July 23, 2022

Patriot Gold Group Review

Read more about Patriot Gold Group
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. You help support CreditDonkey by using our links. (read more)

Patriot Gold Group is a popular provider of precious metals IRAs. But is it right for you? Is it legit? Or a scam? Read on to find out.

Overall Score

3.9

Minimum Deposit

2.5

Customer Service

4.5

Gold IRA

4.0

Fees

3.5

Safety

5.0
5-point scale (the higher, the better)

Pros and Cons

  • Choose your own custodian
  • Excellent customer service
  • 24 hr setup
  • $25,000 minimum
  • Other fees lack transparency

Bottom Line

Reputable precious metal IRA with no account fees for large investors

Most people invest their retirement savings in the stock market — which is smart.

The market has consistently trended upward. But from month to month, there have been many ups and downs.

What if you need to withdraw when the market is down?

You would lose a lot of money. That's why many people invest in precious metals.

A precious metals IRA, like those offered by Patriot Gold Group, provides healthy diversification to your portfolio.

But Patriot Gold Group is not the only precious metals IRA provider. Is it the right one for you?

In this in-depth review, you'll learn everything you need to know.

What is Patriot Gold Group?

Patriot Gold Group is based in Seal Beach, California, and is a well-known provider of precious metals IRAs.

Gold and silver IRAs offer a hedge against the stock market's volatility and potentially against the inflation of the U.S. dollar. Both of which can be important considerations when planning for your future.

With Patriot Gold Group, you can roll over existing retirement accounts such as Roth IRAs or 401(k)s. They also sell gold and silver directly, making it easy to fund your retirement account.

Patriot Gold Group customers gain access to several depositories for secure storage of their gold and silver.

For those looking to learn more about precious metals IRAs and gold and silver investing, Patriot Gold Group offers a range of educational materials.

Finally, they are known for having quality customer service, which can be highly appealing when considering this relationship may last decades.

Patriot Gold Group Features

  • Excellent customer service
  • Easy account setup
  • No IRA fees for accounts $100,000+
  • High minimum investment
  • Pricing not transparent

Now that you have a general idea of what Patriot Gold Group is and what they do let's take a closer look at each of their offerings.

Precious Metals IRA

The Precious Metals IRA from Patriot Gold Group is their primary offering. You can invest in gold and silver in a tax-advantaged account for your retirement.

Account setup is easy thanks to their dedicated customer service team. Getting your account fully set up can take as little as 48 hours.

The minimum deposit for opening an account with Patriot Gold Group is $25,000. This is towards the high-end compared to similar competitors. This may make it inaccessible for newer investors.

Patriot Gold Group is not an IRA custodian, but they have relationships with both STRATA Trust and Equity Institutional. They also work with other IRA custodians like The Entrust Group, New Direction Trust Company, GoldStar Trust Company, and Kingdom Trust Company.[1]

That said, Patriot Gold Group will allow customers to work with a custodian of their choosing.

Precious Metals Storage

Secure storage of your precious metals investments is vital when opening a gold and silver IRA. And due to regulations imposed by the government, you aren't able to store IRA-related precious metals at home or in a personal safety deposit box.

Fortunately, Patriot Gold Group works with multiple depositories including Texas Depository, Delaware Depository and Brinks Global Services USA.

Customers can work with Patriot to set up storage with any of these facilities.

Available Gold and Silver Coins

Patriot Gold Group lets you purchase precious metals for your own personal use or to fund your precious metals IRA.

But there are strict requirements on precious metals used for an IRA. Patriot Gold Group does the work to ensure that your investments will qualify.

They offer an extensive range of coins and bullion including:

  • Gold American Eagles
  • Gold American Buffalos
  • Australian Gold Philharmonics
  • South African Gold Krugerrands
  • Canadian Gold Maple Leafs
  • Royal Canadian Mint Gold Bars
  • Silver Buffalo Rounds
  • Silver American Eagle Proofs
  • Silver American Eagles
  • Royal Canadian Mint Silver Bars and more

If you purchase precious metals through Patriot Gold Group, they offer free delivery, registration, and insurance.

Fees to Look Out for

Patriot Gold Group doesn't disclose their fees on the website. But we spoke to a rep to get the details. Here's what you can expect:

  • Setup fee: 5% on dealer-over-cost metal prices. This means if you invest $25,000, you'd pay $1250 in fees.
  • Annual fees: $140 for storage and insurance, and $60 for IRA custodian management

The first 1-3 years of storage fees may be waived depending on your initial investment.

Want to avoid all fees? Patriot Gold Group offers a No Fee for Life IRA for accounts with balances over $100,000.

If you have that much to invest, you can save more with Patriot Gold Group compared to other gold IRAs.

Patriot Gold Group vs Competitors

Now that we have a solid grasp of the features and fees charged by Patriot Gold Group let's look at them in the context of their most popular competitors.

Patriot Gold Group vs Goldco

Goldco is another well-known precious metal IRA provider. Like Patriot Gold Group, you can invest in gold and silver IRAs. They also offer platinum and palladium if you want to diversify your portfolio.[2]

Goldco also has a fairly steep minimum investment of $25,000. Their transaction fees start at 7%, which is higher than Patriot Gold Group.

But both providers charge comparable fees, and in both cases, you'll need to talk to a representative to get a clear answer about pricing.

Like Patriot Gold Group, Goldco has an excellent reputation when it comes to customer service.

Patriot Gold Group vs Augusta Precious Metals

Augusta Precious Metals has similar features and fees as Patriot Gold Group.

But the minimum deposit is $50,000 to open a gold and silver IRA.[3]

Augusta Precious Metals does stand out in terms of transparency, offering detail regarding pricing publicly on their site that either Patriot Gold Group or Goldco doesn't match.

One reason you might want to choose Patriot Gold Group over Augusta Precious Metals is if you have over $100,000 to invest to start with, you will benefit from Patriot's No Fee for Life IRA.

Bottom Line

Overall, Patriot Gold Group is a solid choice for a precious metals IRA.

For investors with more than $100,000, the No Fee for Life IRA will be a great fit.

Patriot has a positive reputation for quality customer service and offers useful guides and other educational tools for those looking to learn more about precious metals investing and IRAs.

References

  1. ^ Patriot Gold Group. Custodian Partners, Retrieved 7/2/2022
  2. ^ Goldco. FAQs: What type of metals can I keep in my Precious Metals IRA?, Retrieved 7/2/2022
  3. ^ Augusta Precious Metals. Are there minimum and maximum orders?, Retrieved 7/2/2022
Goldco

Free Gold IRA Kit

Learn how to protect your retirement savings

Ally Invest Coupon Codes

Get Up to $3,000

Expires 9/30/2022

The minimum qualifying deposit to receive a cash bonus is $10,000. Accounts will be reviewed 60 days after account opening to determine the total qualifying deposit. Corresponding cash bonus will be credited to the account within 10 business days. Once the bonus is credited to the account, the bonus and qualifying deposit (minus any trading losses) is not available for withdrawal for 300 days. If the qualifying deposit is withdrawn, the bonus may be revoked.

Deposit or TransferCash Bonus
$10,000 - $24,999$100
$25,000 - $99,999$250
$100,000 - $249,999$300
$250,000 - $499,999$600
$500,000 - $999,999$1,200
$1,000,000 - $1,999,999$2,000
$2,000,000+$3,000

Betterment

Get up to 1 Year Managed Free

New Betterment customers only. Accounts must be funded within 45 days of signup. Terms apply.

BlockFi

Get Up to $250 in Bonus BTC

DepositCrypto Bonus
$100 - $1,499$15
$1,500 - $19,999$20
$20,000 - $39,999$40
$40,000 - $74,999$75
$75,000 - $99,999$100
$100,000+$250

Jeremy Harshman is a creative assistant at CreditDonkey, a personal finance comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

Read Next:

Best Gold IRA Companies

Best Gold IRA Companies

Best Places to Buy Gold Coins

Buy Gold Coins

How Long Will My Money Last Calculator

How Long Will My Money Last Calculator

Goldco Precious Metals Review

Goldco Review

Augusta Precious Metals Review

Augusta Precious Metals Review

Best Roth IRA Providers for Beginners

Best Roth IRA Providers

Compare:

Leave a comment about Patriot Gold Group Review?



Advantage Gold Review

Advantage Gold Review

Advantage Gold is a popular precious metals IRA provider. But is it right for you? How high are the fees? Read on to find out.

About CreditDonkey
CreditDonkey is a personal finance comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
(888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
© 2022 CreditDonkey Inc. All Rights Reserved.