Disclaimer: Many or all of the companies listed here may provide compensation to us. This is how we maintain our free service for consumers. Compensation, along with hours of in-depth editorial research, determines where & how companies appear below.
The Gold Alliance IRA is a precious metals trading company. Their primary objective is to facilitate retirement savings and the utilization of tax benefits for their clientele. Investors in the United States might think long-term by opening a gold IRA.
But are they the best IRA gold service available? And what red flags should we look out for? We researched the company's offerings so you could make a well-informed decision.
Make Your Investment With The Right Company!
Make sure that you are making your investment with a trusted and proven company. Our team has spent hundreds of hours researching the top precious metals companies, see if JM Bullion made our list of the top companies for this year!
History of Gold Alliance
Gold Alliance was established in 2002 by professionals with a combined 85 years of expertise in the precious metals industry. Unlike the common investment firms offering stocks and mutual funds, this organization focuses solely on gold and social metals.
The company, with headquarters in Reno, Nevada, offers its clientele a wide selection of precious metals. Customers can access a curated selection of rare antiques, mainstream bullion items and IRA-eligible products.
The Silver Canadian Maple Leaf, Gold American Eagle, Platinum Canadian Maple Leaf and Silver American Eagle are all legal tenders that can be held in an individual retirement account (IRA).
The original goal of the Gold Alliance was to help investors protect their portfolios against the effects of government intervention and market volatility. Initially, the organization set out to provide consumers with precious metals' financial and psychological security.
The firm believes that precious metals investing provides a safe alternative to the stock market and banks for portfolio diversification. The company's personnel provides clients with projections, insights and investment suggestions based on their initial financial study results.
The company's strengths lie in the quality of its customer service and the depth of its resources for those interested in investing in precious metals.
Gold Alliance Management Team
Advisors manage Gold Alliance with extensive experience in the precious metals sector. The team came together because they were all committed to the same thing: the prosperity of their clients. Some of the masterminds behind the scenes are revealed here.
Joseph Sherman – Chief Executive Officer/Partner
Although he grew up in a financially unstable home, Joseph understood the importance of building solid retirement savings early on. He has shifted his focus to helping clients find the most secure and profitable ways to build their retirement funds outside conventional banking and stock market systems.
Even when not working for private clients, Joseph Sherman is helping the public through his books and public presentations. He has nearly twenty years of experience in private education, commodities trading and the financial services sector.
Joseph has lent his knowledge to several prestigious companies and groups, including the National Ethics and the Industry Council for Tangible Assets. Even now, he is dedicated to assisting American retirees with their money issues.
Joseph earned his degree from Tel Aviv University with the highest grade point average. He takes tremendous pleasure in football and spending time with his family and friends.
Kevin Troy – Senior Portfolio Manager/Partner
Kevin Troy started in the banking field at JP Morgan Chase and has since successfully transitioned into the real estate loan sector. But the dot-com crash revitalized his commitment to helping ordinary Americans secure their financial destiny.
At that time, he decided to diversify his portfolio from real estate to precious metals. For 15 years, Troy has dedicated himself to the safety of his client's finances.
Kevin Troy's passion for marketing is seen in his San Diego State University honors degree. Recently, he and his family moved to sunny Los Angeles, California. He keeps himself active by playing sports like soccer and basketball and giving back to the community.
Fred Abadi – Senior Portfolio Manager/Partner
Fred began his career as an executive in company operations, where he managed the improvement of many businesses' production and customer service. Due to Abadi's efforts to enhance customer satisfaction, Global VR's revenue grew by 40% during his tenure as CEO.
His interest in the precious metals market was sparked by the possibility of establishing deep connections with his clientele. Fred has been an expert in this area for close to fifteen years.
A crucial part of his work is developing customized strategies to help clients diversify their holdings. An avid hiker, the ex-student of California State University enjoys the outdoors in his leisure time.
Gold Alliance Product Offerings
Gold Alliance's financial advisors will sit down with you to go through your goals, time frame and budget before recommending an investment strategy.
To hedge against inflation, some people may put their money into more conservative investments. You're not planning on making a killing but rather providing yourself with some security in the event of a market crash.
Global economic uncertainty has increased dramatically over the past few decades. You'd be wise to invest in items that depreciate gradually under these circumstances. Among the investment options discussed by your financial planner are American Eagle coins, gold and silver rounds and Canadian Maple Leaf coins.
Each of these items maintains a high degree of consistency in their stability. There is always a chance of losing money while investing, but based on historical data, these seem less risky.
Choose products with a proven track record of significant price increases if capital appreciation is your goal when purchasing precious metals as an investment. There is a greater potential for harm associated with these. The initial asking price could increase or decrease suddenly.
Gold Alliance employees usually advise clients looking for quick gain to purchase items like the $20 Liberty gold coin of 1904. To hedge against potential price declines, this investment may be paired with another. As an example, think about buying anything whose base price remains the same no matter what. You will retain all your money even if your risky investment does not pan out.
Investors could feel more comfortable with the silver peace dollar introduced in 1922. There has always been a minimum purchase price for this investment.
Some have also raised privacy concerns. They want to make a financial investment for tax reasons but only have to fill out the minimum number of documents. Consult a financial counselor if you need assistance determining which investments will allow you to reach your goals.
Gold Alliance Custodians and Storage
Gold Alliance has formed strategic alliances with three IRA custodians to assist their clients further. The following are among them:
Gold Alliance recommends Wilmington's Delaware Depository as the safest place to store precious metals that qualify for an Individual Retirement Account. More than 72,000 square feet of assets are safeguarded by the facility's class 3 vaults and other state-of-the-art security systems.
Lloyds of London, one of the earliest insurance providers in the world, offers comprehensive protection for the company. Customers of the Delaware Depository have the option of storing their assets in either segregated or non-segregated vaults.
Gold Alliance IRA Costs
The Gold Alliance IRA has an annual fee of $180. All expenses incurred for recordkeeping, account maintenance and online statement access are included in this total.
Their prices are generally lower than their competitors. The business will take care of the expense of hosting and maintenance for you.
You'll also have to fork over cash for the metals you purchase. The value of rare metals fluctuates frequently. Because of price fluctuations, you won't be able to see product prices on the Gold Alliance site. You should contact them and ask about pricing.
Gold Alliance Capital's premiums could be too expensive for precious metals. The service could occasionally add a surcharge on top of the current spot price of the metal you want to buy. For example, Gold Alliance charges 33% more than the industry standard.
Hence, the metals may be sold at a loss upon resale. Precious metals are sold by vendors at prices much closer to the spot price. Instead, they make money off of customer account fees.
Gold Alliance membership is open to anybody and does not require a monetary commitment. Many other enterprises, however, have relatively large minimum investment requirements.
In addition to the $75 account maintenance fee each year and the spot prices of the metals being traded, there are no extra fees for trading metals.
How Is Gold Alliance Customer Service Like?
Gold Alliance Customer Service is dedicated to providing customers with outstanding service. They strive to ensure customers have a positive experience interacting with their representatives. They have a team of knowledgeable and friendly staff that is always available to answer questions, provide guidance and help with any concerns or issues that customers may have.
Gold Alliance Customer Service is committed to providing customers with a personalized and tailored experience. They are available via phone, email and online chat. Customers can also access helpful resources such as frequently asked questions, tutorials and product guides. This helps customers quickly find solutions to their inquiries and resolve their issues promptly and efficiently.
In addition, Gold Alliance offers a variety of customer support options. Customers can choose from extended warranties, free returns and free shipping. They also offer a loyalty program, where customers can earn points for every purchase redeemed for discounts and special offers.
Education and Client Satisfaction
Articles on topics like "The Advantages of Owning Gold," "Optimal Diversification," and "Crisis Protection with Precious Metals," to name just a few, can be found in Gold Alliance's extensive library of educational materials. The company offers market investment news, precious metals charts and a free education kit.
The company provides unrestricted service to guarantee that its clients are constantly satisfied. A customer already invested in Gold Alliance's precious metals products will have access to the firm's senior portfolio management team and any related educational resources and publications.
Customer Reviews
Clients who have dealt with Gold Alliance have generally had a good experience and given the company high marks. The company's quick responses, friendly customer service reps and high-quality offerings earned high marks from satisfied clients.
Customers gave the company's website high marks, saying it was simple to use and filled with all the information they needed to make a well-informed purchase.
As of this writing, the Better Business Bureau (BBB) has awarded Gold Alliance Corporation an A+ rating. Gold Alliance has received a few complaints over the years, but the BBB says they were all addressed to the customer's satisfaction.
The company's reputation is highlighted, as it has been a BBB Accredited Company since 2013. This demonstrates their dedication to their customers and their dependability.
Process of Opening a Gold IRA
Setting up a traditional IRA is more difficult because it differs from a precious metals IRA in many ways. You can still anticipate a few things while attempting to open one. Read on to understand what is involved in setting up a precious metals IRA.
Choose a Self-Directed IRA Custodian
No IRA company is currently authorized to deal with IRAs containing precious metals. The only authorized party to handle your self-directed IRA is a custodian. Any financial institution recognized by the IRS will do.
While they provide a wide range of services, the custodian's primary responsibility is to invest your funds on your behalf. The custodian of your self-directed IRA should be someone you have the utmost confidence in. You should also watch out for the IRA's maintenance fees.
Choose a Precious Metals Dealer
Once the custodian of your IRA transfers funds to the dealer, the dealer will buy precious metals on your behalf. Do your homework to identify a trustworthy dealer.
So, what exactly should you be looking for? Membership in respected trade associations such as the American Numismatic Association, the Professional Numismatists Guild or the Industry Council of Tangible Assets indicates a dealer's reliability.
It takes a lot of work to join one of the organizations that set the standards that precious metals merchants must follow. If you need help deciding, consider the IRA provider's advice. It's common for a reputable IRA firm to deal with other verifiable businesses.
Choose Products to Buy
Now that you've found a dealer, you can start researching the products they stock. First and foremost, keep in mind that the market for gold and silver coins and bars is volatile. Every change in the market will likewise cause a change in the prices of such things.
It comes down to personal preference and area of expertise when deciding what to pick. If you need to familiarize yourself with buying precious metals with your IRA:
Once you've mastered the basics, you can move on to rarer products such as coins from a different country's mint. You can also try your luck with gold bars, palladium bullion or gold and silver bullion if you can locate a merchant with a large quantity of these items.
Choose a Depository
Once again, the precious metals IRA provider will not be responsible for keeping your metals safe. This responsibility is given to a depository institution recognized by the IRS such as Brinks, the International Depository Service or the Delaware Depository Service.
Choose a facility that is convenient for you geographically and financially. Secure, locked vaults are the best option if you can afford them. This provides an additional safeguard for your property while it is stored onsite.
Complete the Order
Everything is ready to go now; all that remains is to finish the order. You can leave the rest of your financial management to your custodian, IRA provider or depository service. All that is required of you is to keep an eye on the total dollar amount of your orders at regular intervals. Keeping them safe is a good idea because you never know when you might need access to them.
Final Thoughts
The Gold Alliance IRA allows you to invest in gold and other precious metals. The company offers to offer low maintenance expenses. But they can do so by setting prices higher than the going rate for precious metals. In this case, the selling price of the metals will be far lower than the cost of mining and refining them.
It's a nice company, but many others offer comparable services at lower prices and with more client convenience. As a result, we are compelled to withhold our complete recommendation of this firm. Five of our top picks for gold IRA providers provide significantly superior offers and rates.
These companies also provide superior customer service. They aim to create lasting bonds with their clientele. The firms offer a wide range of services, goods, instructional resources and high-quality customer assistance around the clock.
Don't Forget To See Our Top Companies!
Use our research to your advantage and checkout our top companies before investing!
Or visit JM Bullion below...