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Precious metals are a great way to diversify and protect your assets from economic downturns and the ravages of inflation.
If you’ve been considering opening a gold IRA and came across Patriot Gold Groupit’s natural to wonder if it’s a reputable company.
Can you can trust them with your hard-earned retirement savings?
That’s where we come in.
Although Patriot appears to be a solid organization at first glancewe’re going to dig deeper and see if there’s anything for you to worry about.
Soin this reviewwe’ll cover the following:
- Is Patriot Gold Group legit?
- Their management teamvaluesand products
- The process and costs
- Patriot Gold Group complaints and ratings
- Lots more
Without further adolet’s get started.
The Company Background
Founded in March 2016 and headquartered in Los AngelesPGG specializes in helping customers diversify with precious metals with a safe and straightforward approach.
They have won the Top Rated Gold & Silver Dealer Nationwide award by Consumer Affairs for an impressive five consecutive years – 2016 through 2020.
They also received 5-star ratings on Consumer Affairs the following years.
Now…
The executive team has held upper-level senior management roles at some of the largest retail and wholesale precious metals firms.
They created Patriot when they recognized several fundamental flaws in the industry – lack of client satisfactioneducationretentionand customer service.
With over 50 combined years of experience in the marketthey are committed to ensuring that customers are comfortable taking their wealth preservation and retirement into their own hands and have the necessary tools to do it.
As part of this processthey eliminated multiple executive and shareholder compensation levels to offer precious metals at highly competitive prices.
As patriots serving patriotsPGG stands behind the following commitments to every customer they serve:
- You’ll work directly with an owner
- No fees for the life of your account on qualifying IRAs
- Fast 24-hour account setup
Who Owns Patriot Gold?
You may wonderwho is the CEO of Patriot Gold Group?
Formed as a private partnershipJack Hanney acts as CEOCo-Ownerand Senior Partner.
He has over 20 years of market experience and is considered an expert in the industry.
Liz Lane is the Director of Operationswhile Mike Celano and Charley Chartoff are the two senior partners.
Patriot Gold and Silver Products
Gold and Silver
The company’s main offerings are gold and silver coins.
They provide direct-investor pricing with no added markups or commissions to ensure they can provide the most competitive prices in the industry.
They work with mints worldwide – USCanadaAustriaUnited KingdomSouth Africaand Australia – to offer the highest quality products eligible for IRA accounts.
Their coin selection by mint is as follows:
Royal Mint in South Wales
The largest and most technically advanced mint in the world that produces over 3.3 billion coins for over 30 countries.
Gold and Silver Options:
- Mayflower
- Atlantic Alliance Exclusive
US Mint
From one of its four locationsthe US Mint produces some of the most popular coins in the world.
Gold options:
- American Eagle
- American Buffalo
- Liberty Double Eagle Set
- American Eagle Proof Set
- US Buffalo Proof
Silver Options:
- Buffalo Rounds
- Silver Kennedy Half Dollar 1964
- American Eagle
- Morgan Silver Dollar
- American the Beautiful Set
- Silver Franklin Half Dollar
- Silver Walking Liberty Half Dollar
Royal Canadian Mint
With a rich history dating to 1908it is recognized as one of the top mints in the world.
Gold options:
- Maple Leaf
- Polar Bear and Cub
- Arctic Fox
- Gyrfalcon
Silver Options:
- Polar Bear and Cub
- Maple Leaf
- Polar Bear
- Arctic Fox
Austrian Mint
The Vienna Mint traces its history back to 1194 AD when it received payment for Richard the Lionhearted’s freedom from Duke Leopold V of Austria.
- Gold Philharmonic
South African Mint
Originally part of the Royal Mint during the British Colonial erathe South African Mint is now wholly owned by the South African Reserve Bank.
- Gold Krugerrand
Perth Mint in Australia
The Perth Mint holds the distinction of having produced the world’s purest gold in 1957.
- Gold and silver Australian Spotted Eagle Ray
- Silver Australian Striped Marlin Silver
Though you can view products onlineyou need to speak directly with a representative for quotes.
Besides coinsthey also offer a 10-ounce silver bar.
Though they don’t list platinum or palladium products on their websitea customer service rep informed us they could obtain these products for interested investors.
Precious Metals IRA
Patriot Gold Group is dedicated to helping customers diversify their IRAs with precious metals.
They state that they have over 50 years of combined experience assisting average investors with their retirement accounts.
READ ALSO: Augusta Precious Metals or Patriot Gold Group?
This team make it easy to start the process.
Alsosince you work directly with an owneryou can feel confident that you’re in reliable hands.
Their quick turn-around time to open an account is between 24-48 hoursone of the fastest in the industry.
Another bonus is that you get no fees for the life of your account for qualified purchases.
They have relationships with two of the top self-directed IRA custodiansSTRATA Trust and Equity Trustbut will work with any approved trustee.
Their preferred storage facility is Delaware Depository.
This state-of-the-art facility serves as the primary depository for commodity exchangesbanksand IRA trustees.
In additionall assets are protected by a $1 billion all-risk insurance policy provided by Lloyds of London.
Patriot Gold Group Fees
When looking at this type of investmentsit’s important to consider gold IRA fees and costs.
Unlike stocks or bondsphysical metals need to be stored and secured. Plusyou will need to work directly with a trustee that specializes in the IRS-required documentation.
To cover these servicesPGG charges a first-year fee of $250. After thatannual fees run $200.
Howeverif you rollover $100,000 from your IRA403B and 401Kyou’ll qualify for their “no-fees for life” program.
With this no fee for life precious-metals-backed IRAthey’ll cover both your custodianstorage and insurance costs for the life of your account.
What Is The Minimum Investment For Patriot Gold?
Their minimum investment to open an IRA is $25,000or $10,000 for non-IRA cash purchases.
If you invest a minimum of $100,000they will waive all custodian and storage fees for the life of your account.
And if you make an investment of $250,000 or moreyou qualify for their platinum level.
Not only will they waive all feesbut they will also cover all the shipping costs to and from your storage facility.
How To Open An IRA With PGG?
Opening an account is quick and easy and comes down to the following 3 steps.
1) Firstfill out the online application.
This form will ask for your contact and personal informationincluding your social security number.
Orif you feel more comfortableyou can speak directly with your representative.
2) Nextyour representative will reach out once the information is submitted to the trustee and help you finish any required paperwork.
Once openedPGG’s 401(k) and IRA Rollover department can help with the transfer process from an existing retirement plan or IRA account.
Funding times will depend on how quickly your current plan transfers your money.
3) Now that you’re fundedyou can select your precious metals.
Your account representative will help you choose from their high-quality products and then confirm your order.
Trades are completed within 48 hours of receiving funds from your trustee and will be shipped directly to your selected storage facility.
Any time you wishyou can make arrangements to visit the vault to see your precious metals in person.
Investor Education Offered
Knowledge Center
Addressing the lack of quality educational resources from other precious metals dealersPGG is committed to providing the tools necessary so customers can feel comfortable managing their retirement and protecting their wealth with precious metals.
From the Knowledge Center on their websiteyou can access short videos by Dick Morris and CEO Jack Hanney discussing the benefits of investing in precious metals.
You can also access links to articles provided by other financial websites covering a wide range of relevant topics.
They also provide free updated precious metals quotes and charts comparing gold and silver prices to the US dollar.
And their online calculator makes it easy to calculate your required minimum distribution or RMD when it comes time to make withdrawals.
Free Investor Kit
You can request their free Gold and Silver Investor Guide from the website.
It will show you the simplethree-step process to opening a precious metals IRA and answer common questions.
Customer Service
Customer satisfaction is a top goal for this companyand they make it easy to get the information you’re looking for.
They offer an online chat featuring a live person who will happily answer any questions. We were able to get most of our questions answered in just minutes using this option.
Orif you preferyou can speak with a representative by phone.
Representatives are available Monday through Thursday from 7 am – 5 pm PST or 7 am to 3 pm on Fridays.
You can also email their support departmentand they will get back to you the next business day.
Customer Reviews and Complaints
This company has prioritized outstanding customer serviceand it shows in the reviews.
In factwe couldn’t find a single negative review or complaint across multiple third-party review sites.
The Better Business Bureau shows a five-star rating based on one review and zero complaints.
Though they have only been a member since April 2022they maintain an A+ rating.
On the Business Consumer Alliance websitethey have a perfect 5-star rating based on 17 reviews and zero complaints.
They have been a member since 2016 and have an AA rating.
And with TrustPilotthey have a 4.9 average rating based on 110 reviews.
But don’t just take our word for it.
Insteadlisten to what others have to say about working with them:
I wanted to invest in precious metals IRAbut the only challenge was that I didn’t know a thing about it. Thankfullysomeone recommended Patriot Gold Groupand they helped me end to end. Fast processamazing servicesand professionals you can trust for their expertise.
Or these two:
Patriot was helpfulstraightforwardand honest and made me comfortable with moving my money into hard assets.
Creating a precious metals IRA was a smooth and easy experience. Everyone I worked with was helpfulknowledgeableand provided excellent assistance. I highly recommend Patriot Gold.
Patriot Gold Group: Pros And Cons
So why consider Patriot?
Let’s take a look at the pros and cons.
Reasons to Consider:
- You work directly with an owner
- Waives all the fees for accounts over $100,000
- Excellent Patriot Gold reviews and ratings by clients
- Free investor kit and online Knowledge Center
Reasons to Avoid:
- No online pricing
- Less-extensive product offerings
- The $25,000 account minimum may be too high for smaller investors
Is Patriot Gold Group Legit? The Verdict
Selecting a precious metals IRA company you can trust can be a challenge. And it’s crucial to do your homework.
That’s why we took the time to do this in-depth analysis so you can decide if they’re the right company for you.
Sois Patriot Gold Group legit or scam?
Noit’s not a scam. After reviewing this businesswe feel confident that PGG is a legitimate company with nothing to hide.
Considering its excellent reviews and commitment to outstanding customer servicewe see no reason you shouldn’t trust Patriot Gold with your precious metals IRA.
Whether you work with their preferred trustees or one of your choosingthey will provide the necessary assistance to save you time and money.
And though their gold and silver selection is less extensive than other companiesit will be high-quality products that meet the strict requirements imposed by the IRS to be included in an IRA.
Though Augusta Precious Metals continues to be our #1 recommendationPatriot Gold would make a good alternative.
Nowwe’d like to hear from YOU:
- Have you ever dealt with this business?
- Do you agree with this Patriot Gold Group review and its legitimacyor do you have a different opinion/experience?
Let us know your thoughts in the comments section below!
