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Finding a reliable gold IRA firm to help you diversify your investment portfolio with precious metals might be difficult. Like most investors, you want to be sure that your money and assets are safe in an honest and trustworthy organization.
We aim to provide you with the necessary resources to make wise purchases to secure your financial future and peace of mind. In this post, we'll evaluate the U.S. Gold Bureau and tell you whether or not you should open a gold IRA with them.
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History and Background of the United States Gold Bureau
The U.S. Gold Bureau (USGB) is a Texas-based precious metals company that has been in operation since 2003. In 2003, the company's ownership structure was revised and it began operating as a wholly owned subsidiary of Lone Star Tangible Assets. This parent organization oversees the operations of the Texas Bullion Depository.
The U.S. Gold Bureau boasts on its website that it can offer more affordable and safe storage options than its competitors' thanks to its proximity to the Texas Bullion Depository and the superior security measures.
The U.S. Gold Bureau introduced Wholesale Coins Direct in 2021, pledging better service and a wider variety of silver and gold coins. The U.S. Gold Bureau adds value to its website for customers by providing buy-back programs and free instructional information.
The firm discusses the process of acquiring precious metals, recommended investing techniques and more in featured articles and videos that break down the ins and outs of IRAs.
When serving its consumers, the U.S. Gold Bureau strives to exceed expectations by giving them more for their money. While it is a member of the Industry Council on Tangible Assets, the BBB still needs to be accredited by the U.S. Gold Bureau.
Precious Metals Offered by the U.S. Gold Bureau
Gold, silver, palladium and platinum are precious metals and accessories the United States Gold Bureau sells. They also sell foreign coins, gold coin sets and diamonds. Premium gold sets, bars and other investment coins are subject to price fluctuations according to market demand and supply.
According to market research, the U.S. Gold Bureau is a major purchaser of gold bars from the U.S. Mint. That's why they stock coins from various domestic and international mints.
Gold Coins
The company offers various coins including:
Gold and Silver Bars
Gold bars ranging in size from an ounce to a kilogram are regularly stocked at the United States Gold Bureau. Silver bars may be found in sizes ranging from one ounce to one thousand ounces.
Silver Coins
U.S. Gold Bureau customers can buy and invest in a wide variety of silver coins, including but not limited to:
Platinum and Palladium
Platinum is more expensive than other precious metals because it is rarer. You may buy platinum coins and various United States Gold Bureau bars. Regarding palladium, the United States Mint has a significantly larger selection of bars and coins, including the palladium Eagle.
Services and Expertise
For anyone interested in buying, selling or investing in gold, the United States Gold Bureau offers a wide variety of services. The company's most sought-after offerings and available payment methods are described here.
Buy-Back Service
If you're an investor in need of quick cash, consider selling your holdings back to the U.S. Gold Bureau. Although it is recommended that you shop around for the best price and payment terms, selling gold through the U.S. Gold Bureau's buy-back program is simple.
The company maintains a catalog of payments detailing all of its purchases. You may go over this list and choose things to ship to the U.S. Gold Bureau if you want to make some sales to them. You will be given a numbered packing slip for your shipment and within five business days of the USBG receiving it, you will be paid.
Sales Packages
Due to its unique offering, this investment service may exceed customer expectations in the precious metals industry. Customers may browse and purchase a wide variety of precious metals and other investment options such as:
Depending on your budget, the U.S. Gold Bureau offers a range of sales packages from $250 to $100,000. The more costly packages feature larger quantities of rare metals.
Secure Storage Facilities
The U.S. Gold Bureau has an arrangement with and ties to the Texas Bullion Depository; therefore, they use it as their preferred storage option. The U.S. Gold Bureau has been able to improve its image and achieve some level of success thanks in part to the usage of this secure location.
Is the U.S. Gold Bureau a Legit Company?
The U.S. Gold Bureau is a trustworthy firm that has been around for almost two decades. Being a subsidiary of Lone Star Tangible Assets, the firm has already built a solid reputation.
However, input from individuals with expertise in the institution is necessary when developing a review and establishing the gold IRA company's credibility. For this detailed assessment of the U.S. Gold Bureau, we combed through consumer feedback posted on external review sites.
Reviews on sites like Trustpilot, Trustlink and Consumer Affairs, among others, have rated the organization anywhere from 2.9 to 4.1 stars out of 5.
Notwithstanding the Better Business Bureau's lack of accreditation, the U.S. Gold Bureau's website boasts an average rating of 4.1 stars from customers. The average rating of 3.6 out of 5 stars based on 882 reviews on Trustpilot indicates that many customers were dissatisfied and voiced their displeasure in the evaluations they left.
Several BBB-recorded complaints against the U.S. Gold Bureau have been addressed and resolved. One Trustlink reviewer describes how specific U.S. Gold Bureau staff were "very helpful" over repeated transactions. In contrast, another reviewer claims they will "only work with these people" (i.e., the U.S. Gold Bureau) in the future.
But, the company's usually stellar reputation may take a minor hit due to the reviews' varied results. Over the board, the U.S. Gold Bureau's poor ratings focused on four main issues:
Many customers have complained to the U.S. Gold Bureau about the bureau's slow response and long wait times. A 2022 review describes a consumer who bought a gold Eagle but then had trouble making a payment. The customer had to phone U.S. Gold Bureau "almost a month ago" to find out when he would get the item he had bought.
Another Trustpilot reviewer said that after weeks of emailing and calling, they "finally" got the right number of items in their purchase. The U.S. Gold Bureau canceled this client's transaction and after several calls that went unanswered, the consumer finally got through to someone who could help.
Why Add Gold to Your IRA?
Adding gold to an IRA is a fantastic inflation hedge and portfolio diversifier. Gold has always offered investors security, high returns and a hedge against market volatility. Gold's ability to maintain its value and riches over time is only one of the reasons it's often included in investment portfolios and used as a means of diversification and capital preservation.
Putting gold in your IRA is a great way to protect your retirement savings from the effects of inflation. Gold is a steady asset frequently considered a haven in the face of the volatility of paper currency and other assets. Diversifying your IRA portfolio with gold fortifies your retirement funds against inflation and market volatility.
Moreover, gold tends to do well during economic instability. Gold prices spiked in 2008 as investors sought safety from an impending economic downturn. You may use gold's propensity to grow in value in a volatile economy by including it in your retirement account (IRA).
Also, diversifying your IRA with gold helps reduce risk. Gold is a diversifier, which may help keep your portfolio from being too dependent on any one thing. Lower your overall investment risk and increase your potential rewards by diversifying among different types of assets.
Gold is an excellent long-term investment that can protect your money. In addition to helping to protect wealth, gold may also provide investors with tax advantages. Investors looking to invest for retirement will find gold a good alternative because of the lack of a capital gains tax.
How Do You Open a Gold IRA?
Opening a gold IRA involves a few steps:
How Can You Withdraw from Your Gold IRA?
You can either take a physical distribution or a cash distribution. A physical distribution involves taking possession of the gold coins or bars in your IRA. You will receive an actual delivery of the gold to your home or another secure location.
You must arrange the transport and secure storage of the gold yourself. It is important to note that this type of distribution will come with a hefty tax penalty and you must be sure to meet all the legal requirements for a physical distribution before choosing this option.
A cash distribution involves liquidating the gold in your IRA and receiving cash in return. This distribution is also subject to taxes but is typically less than physical distribution. You must contact your IRA custodian to initiate a cash distribution and complete any required paperwork.
Depending on the custodian and account type, you may also need to provide proof of identity. Once the paperwork is complete and the cash is received, you can use it for whatever purpose.
In both cases, the gold IRA custodian is responsible for following all IRS regulations and reporting any distributions to the IRS on Form 1099-R. It is essential to follow these regulations correctly to avoid penalties and other legal issues.
In addition, there may be penalties for taking an early withdrawal from your gold IRA. These include a 10% early withdrawal penalty if you are under 59 1/2 and potential federal tax liability.
Final Thoughts
The United States Gold Bureau has conflicting opinions on the delivery system's efficiency. Some customers may feel neglected, while others have noted that the organization goes above and beyond to ensure their satisfaction and offers helpful resources for the investing process.
Individuals just getting started with this or wanting to establish a gold IRA may find this abundance of instructional information helpful in figuring out the best options for them and their budget.
When looking to diversify your holdings, the U.S. Gold Bureau offers a wide range of precious metals and investment opportunities. The United States Gold Bureau is a good choice for establishing your IRA.
However, some highly rated companies provide a wider variety of options for investing in gold. If you're looking for a reputable gold investment firm, look at the reviews of these gold IRA companies. The best way to narrow down the list of potential candidates is to find out which ones have the highest favorable reviews from past customers.
For example, our top 5 highly rated companies can offer better customer service, more payment options and faster delivery. When you are ready to purchase, looking at what these companies can offer you is a good idea.
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