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When placing money into precious metals like gold and silver, it's crucial to have accurate information. There are many online precious metals investment firms to choose from, so you may want guidance in making the best choice. See what we thought of American Bullion if you're still undecided.
We undertake extensive buyer research to assist you in making an informed decision. We evaluate gold brokers by contrasting various characteristics such as prices, deals, etc. If you need advice on finding a reliable gold IRA, keep reading.
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What Is Gold IRA?
Individual Retirement Accounts (IRAs) allow investors to buy and sell bullion and other physical commodities and so-called gold or precious metals IRAs are a popular choice. Because of these vehicles' additional size and maintenance requirements, custodial charges tend to be higher than ordinary IRAs.
With the assistance of a custodian, pre-tax funds can be invested in a gold IRA. Several so-called "gold IRAs" don't sell gold to their customers. Stocks in mining companies and mutual funds are popular investments for some companies because of the high-profit potential.
Because the IRS limits gold investments to $6,500 annually, persons under 50 cannot contribute more to their retirement funds. Because the value of precious metals tends to remain stable during economic unrest, many people still choose to place their retirement funds in gold IRAs.
Some companies' high required minimum IRA contributions may deter employees from establishing long-term financial commitments. Nonetheless, the rising price of gold needs to be watched. Some years, speculators expect gold demand to rise by 19% from the quarterly average.
Background of American Bullion
In 2009, American Bullion began business as a legitimate company. Former commodities traders Nevtan Akcora and Orkan Ozkan planned to create a company in Los Angeles that would streamline the acquisition and disposal of precious metals. To accomplish this goal, they emphasize assisting customers online and offer the idea of adding bullion coins and bars in IRAs.
In 2013, American Bullion became the first gold IRA provider to accept Bitcoin payments. Although Bitcoin was still a new currency at the time (whose price had just recently hit $1 two years prior), some people were surprised by this occurrence. However, American Bullion stood out as the industry leader, with the world's largest gold IRA accounts.
Several current gold investors consider American Bullion a pioneer in the IRA gold market. Self-directed IRAs may be opened for customers with the aid of STRATA Trust Company. In addition, American Bullion facilitates the transfer of 401(k)s and other paper assets into gold IRAs for its customers.
The company is still led by its original CEO, Nevtan Akcora. His resume includes time as Onstar Global's COO and President before he started his own company. As the digital marketing manager at Akcora, former Siemens systems engineer Erman Ebren also helps with employee management.
Like any other business, American Bullion faces frequent criticism and obstacles. Despite this, the company's history of success continues to excite investors, tax experts and competitors.
American Bullion Products
American Bullion sells precious metal coins and proof versions of popular metals like platinum and gold. In particular, American Bullion offers U.S. and European currency for sale from the turn of the twentieth century. Nevertheless, this company offers more than just bullion coins.
The standard currency of this country is minted from gold that is above 99% pure. Brands with such global recognition are highly liquid assets for investors. In addition, their value remains stable in comparison to the market price of gold.
They also make collector-grade bullion coins. Yet, because these coins may have been removed from circulation, speculators may sell them at a high premium. Before making a financial commitment, novice investors should get advice from gold IRA experts on the value of these physical commodities.
The product catalog is only available on the American Bullion website, much to the dismay of potential customers. Customers can only learn about products and pricing by calling the company directly.
American Bullion Required Minimum Investment
American Bullion has a modest minimum investment requirement like many other gold IRA providers. The pricing structure is simple, which is a plus. There is a yearly maintenance fee of $95 for custodial accounts after the first year has passed in addition to the initial establishment fee of $50. In addition, the first gold IRA contribution from a new customer must be at least $50,000.
For some, the asking price may be too high. However, a new customer's first deposit can be transferred from other accounts with the company. In addition, new customers at American Bullion don't have to pay any storage fees for the first year.
Thousands of users visit the site annually to take advantage of these bonuses. Lastly, a $150 yearly fee will be assessed for accounts with balances of $100,000 or more to help defray the cost of administration and upkeep.
Precious Metals Allowed in IRAs
Specific gold and silver bars and coins from American Bullion are eligible for use in IRAs as they have been designated as such by the Internal Revenue Service (IRS).
Silver Bars and Coins
Gold Bars and Coins
Bullion Storage Options
American Bullion works with STRATA and the Delaware Depository to provide customers safe places to keep their products. The delivery of items to either location is carefully monitored and the same is true for the storage of all other sensitive materials.
But there are still many who need assistance slowing their gold withdrawals. There could be a delay of several weeks in receiving gold from the Delaware Depository. When customers want to see their gold again after storing it, they must schedule a viewing session.
Many consumers prefer different methods; however some want to keep their cash at home for security reasons. Yet, there are risks associated with this approach. Disasters and theft can cost tens of dollars, if not hundreds. If you need help setting up home delivery, American Bullion is here to help.
Why Gold IRAs Are an Excellent Investment
A gold IRA may be the best solution to add more precious metals to your portfolio. The IRS will only raise red flags if you invest in this bullion, making it a great option for someone deciding whether to open a single or joint account.
Gains from Taxes
Dorcels, bullion bars and coins are acceptable forms of gold for IRA contributions. When the time comes to sell the gold, the investor will not be subject to capital gains tax. This can save them and their families tens of thousands of dollars annually and make them wealthy.
Investment Portfolio Diversification
Gold IRAs are a fantastic way to spread investment risk and maintain a healthy portfolio mix. Gold is one of the few investments rarely affected by market fluctuations, so having it in an IRA can help mitigate overall portfolio risk.
To steal or hack it would need a lot of effort and time. This gives American Bullion great assurance in their gold IRA approach; they would only suggest something they were fully convinced in themselves.
Protect Yourself from Market Crashes
To protect your wealth during market downturns, consider investing in gold. Having gold in your IRA can make your portfolio more secure and less vulnerable to market downturns. Gold is a popular way for investors to reduce their exposure to the market and the potential consequences of a daily economic slump.
Estate Planning
Putting money into a gold IRA is wise for those concerned about legacy and retirement planning. Many people invest in gold because they wish to provide for their families in the future. Some stock and commodity investors may desire to diversify their holdings into other industries or asset classes to rest easily at night.
Putting some of your money into gold is a brilliant method to protect your family's financial future in the event of your untimely demise. Gold is an excellent investment for those who want to protect their wealth from estate taxes.
Conducting IRA Rollover
So, you want to buy some precious metals but need the cash. American Bullion may help you convert your existing traditional IRA, Roth IRA or other IRA into a gold IRA if you want to switch.
Start the rollover process before having your broker purchase precious metals on your behalf. American Bullion provides a contract detailing fees, storage options, risk concerns and more, much like other respectable gold dealers. If this is your first experience working with an IRA provider, you should seek the advice of a tax or legal professional.
You'll need valid identification to use self-directed IRA Services. American Bullion will validate your gold IRA rollover when you've completed the required requirements. A self-directed IRA gives account holders more leeway in investing their retirement funds. Your broker provides precious metals IRAs, carrying out your instructions.
American Bullion Reviews and Ratings
Reviews of American Bullion can be found on several other websites. Business Consumer Alliance and the Better Business Bureau are two groups that continue to collect and consider customer comments. The following is a collection of comments:
TrustLink
TrustLink is a platform for customers to leave reviews and ratings for local companies. The consensus among American Bullion users was positive. The reliability of this business has been praised in several five-star ratings. Precious metals retirement account investors have praised American Bullion's knowledge and service.
BCA has given the company an A+ rating. Their precious metals operatives reportedly kept them informed and even located some lost funds. American Bullion received BCA's top rating of AAA due to the company's stellar reputation, longevity in business and dependability.
The Better Business Bureau
American Bullion has an A+ rating with the Better Business Bureau and has received only one complaint in the past three years. Due to their prompt resolution of the issue, customers have awarded American Bullion four stars.
Many reviews have singled out the company's friendly customer service and wealth of available educational resources as the key reasons they would recommend it to others. Most reviewers believe American Bullion is reliable when transferring your IRA or your existing account.
Trustpilot
Current and previous clients of American Bullion are welcome to provide feedback on their experiences here. The company has accomplished remarkable success, with nearly 200 satisfied clients rating it 4.5 out of 5.
Customers on Trustpilot have nothing but praise for American Bullion, a precious metals investment company. Some clients have reported that they felt comfortable enough with agents to finalize transactions with them.
Final Thoughts
Given American Bullion's high customer satisfaction rating and hundreds of positive reviews, the precious metals component of your retirement portfolio could be a good place to start.
American Bullion is unparalleled in its capacity to provide customers with the tools they need to make informed decisions when investing in gold, silver and platinum.
With over a decade of experience, this Los Angeles gold dealer is a pro at handling large sums of money and caring for their customers. In addition, customers appreciate the variety of items they offer and the financial aid they provide to deserving students, both of which get them high scores from clients.
The minimum investment and account maintenance costs should be lowered. Some customers have expressed frustration that their orders from American Bullion sometimes take a while.
After careful consideration, we have determined that American Bullion remains an acceptable alternative. This trustworthy, client-focused company is a solid option for new investors.
Nonetheless, we do suggest looking into our finest reliable gold IRA firms. They are among the best in the market because of the high quality of service they provide to clients, the inexpensive cost of their services and the minimal minimum investment required.
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