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Investing in precious metals allows you to hedge against inflation and protect your wealth. As you start the process, you must find a precious metals company to help you buy gold coins and bars for your private stores or as part of an IRA.
American Gold Reserve is one of the available options, but it may not be the best. You must research the company to learn about its owners, services, and products. It also helps to read American Gold Reserve customer reviews, as many negative ones may indicate that the company lacks integrity.
We realize that not everyone has time for intensive research. We have spent hours gathering information and want to share it with you so you can make an informed decision. Check out our comparison chart and read our other company reviews to see how American Gold Reserve compares to the best in the industry.
At The Gold Information Network, we understand the importance of your financial choices and the trust you place in our insights. We conduct in-depth research on each firm we review, evaluating its reviews, reputation, product offerings, fees, and history while also meticulously comparing it with similar market products.
In a financial landscape where banks appear geared towards serving the wealthy, we hold reservations about these institutions, the monetary system, and politicians. We passionately advocate empowering individuals like you with greater control over their finances. We firmly believe that you should have the authority to shape your financial future independently, reducing your dependence on institutions and politicians.
American Gold Reserve is a precious metals company based in Houston, Texas. The company's website states that it has been operating for over 17 years in the industry. We could not find any other information on the company's “About Us” page.
American Gold Reserve does not offer information about its owners or management team. However, through the Better Business Bureau and other sources, we discovered that Kimberly D. Poulard is the company's current owner.
Customer reviews provide valuable information to help you decide if a company is worth your time. Our first stop in our investigation was the Better Business Bureau. Here, we discovered American Gold Reserve is not accredited and has no rating.
There are multiple complaints on the Better Business Bureau, and American Gold Reserve only has 1.54 stars out of five. Only one customer gave a positive review and said they were happy with their precious metals.
Most people left negative reviews that included the following:
Now, we get to the complaints:
One customer complained about being pressured into purchasing two Kruggerands that were supposed to be highly valuable. A representative told the customer they could return the coins if they changed their mind.
American Gold Reserve later told the customer they could not give a refund until they sold the coins. The customer paid over $25,000 and discovered the coins were valued at around $5,000. This customer has filed a complaint with the Texas Attorney General.
Another customer saw an ad for the company and called to talk to a representative about purchasing $5 coins. The rep told the customer they needed to buy higher-priced coins to see an actual profit. The customer was concerned about the cost, but the representative assured them they could sell the coins back at any time if they needed money. When the customer tried to sell, the representative was never available. After talking to another company rep, the customer learned American Gold Reserve would not honor the deal.
Based on customer complaints and reviews, American Bullion Reserve seems to use underhanded tactics, overhyping the value of coins and charging higher prices than they should.
Customers buy precious metals and pay as much as five times the spot price. In our experience investing in precious metals, we view this sales strategy as fraudulent, even if it is legal.
Unfortunately, most customer concerns have never been resolved. Although the retailer responds to some customer complaints, they often state that they cannot find an account under the customer's name.
Pros
Cons
This is a tricky question to answer. Although the company has been in business for years, the lack of accreditation, negative reviews, and missing information about the company means we cannot determine the answer now.
We have concerns about the company's operations. The website does not display any inventory. In all our years of researching gold retailers, we have never seen a company with such a lack of information on its website. Spending your hard-earned money on metals should not become a guessing game.
The company does not show products. Reportedly, they offer gold coins like Gold American Eagle coins and other bullion, but we have no way to verify their catalog. American Gold Reserve should update its site and show the top gold, silver, platinum, and palladium coins and bars.
It is strange to see a company that does not list its products. Most retailers will at least show pictures of American Eagle coins and others, even if they do not include the price.
American Gold Reserve expects customers to call and talk to a representative before learning about the product offerings or prices. This seems highly deceptive and concerns us greatly. American Gold Reserve needs to work on a few things to attract investors.
The company does not have a page of information on its services. We do know it sells gold bullion and other precious metals. It also reportedly has a buyback option. However, we cannot verify whether it offers gold IRA services.
In our research, we contacted the company via chat and received an AI response. We were asked to provide contact information so a company representative could call us. You have to wonder why American Gold Reserve acts so secretive in giving information about its products and service options.
You are considering buying gold, but you need to know more. You deserve to know the facts. Is investing in gold worth your time or too much of a risk? Should you buy bullion?
New investors have many things to consider, and protecting their wealth is essential. We break down the benefits and disadvantages below so you can make the correct decision for your investment needs.
Inflation continues to plague the world. As it continues, the price of gold tends to rise. Stocks can fall during high inflationary periods and cause you to lose money.
Diversifying your investments helps secure your wealth and prevent you from losing it all in one market downfall. In our experience, 5% to 10% of your assets should include metals. You can invest higher or lower, depending on your comfort level.
If you invest in metals through an IRA, you can take advantage of tax benefits. Depending on the type of IRA, you can gain tax advantages with each contribution or distribution.
As companies like American Gold Reserve will tell you, gold is highly liquid. Liquidity means you can buy or sell quickly, even during economic distress. It serves as an excellent liquid asset for your portfolio.
Gold is a safe haven investment because it retains its value or rises during market instability. Historically, it has retained its value even when paper currencies fell.
Storage issues can become problematic when investing in gold, silver, platinum, or palladium. Storing your metals at home can lead to risks of theft, and other more secure options require fees. If you invest in an IRA, the IRS will require you to put your metals in an approved depository.
Unlike stocks, you cannot earn a passive income from investing in gold. The only way you can make money is to wait until the price goes up and sell at the best time.
You could be subject to higher taxes if you sell your metals with a profit. Profits on these sales subject you to capital gains taxes.
There are ways you can avoid paying capital gains taxes. Based on our experience, getting advice from a certified public accountant is best.
As we have encountered in our years of research and investments, the industry is full of frauds. These frauds prey on new investors, promising them genuine metals and giving them the runaround.
We urge you to research companies like American Gold Reserve and others. Although the company has never been charged with fraudulent activity, you should always remain vigilant in learning as much as possible before you invest in metals.
After years of industry research, we have discovered some important attributes to look for in metal retailers like American Gold Reserve.
We take our retailer reviews more seriously than most because we are investors ourselves. We hold companies to a high standard and refuse to recommend retailers that do not make the cut.
Retailers that do not offer the above are not worth your time. The market is too full of retailers to settle for one that does not provide you with the best service and expertise.
American Gold Reserve does not operate a storefront. They only serve clients online, but you can call and talk to a company representative 24/7.
American Gold Reserve promises competitive prices, but customers complain about high markups and misleading pricing. For instance, some customers have bought Gold American Eagle Coins only to learn they paid way more than the value.
American Gold Reserve has had lawsuits. The latest was filed by Dora Rowe in 2022. The lawsuit is based on fraud. The case was dismissed with prejudice and settlement papers.
There are many alternatives to American Gold Reserve. We have reviewed countless retailers in the industry and invite you to read them and learn about your options.
Companies like American Hartford Gold, Goldco, and Augusta Precious Metals offer better service, selection, and pricing.
The Better Business Bureau's poor rating and the negative reviews, complaints, and lawsuits are enough for us to avoid recommending AGR.
We have tried to be as thorough as possible with this American Gold Reserve review. We have spent hours researching American Gold Reserve to dig up all the details, but it was challenging.
The American Gold Reserve site and About Us page lack information. The Better Business Bureau does not accredit American Gold Reserve, and it has no rating.
We discovered multiple customer complaints and a lawsuit from a former customer of American Gold Reserve. The customer accusations were concerning.
We cannot recommend American Gold Reserve to our readers because of its poor reviews, complaints, and lack of company information.
There are far better options available. Do not settle for less than the best. Unfortunately, American Gold Reserve is not the best.
The information provided in this website is intended solely for educational purposes and general informational use. It is not intended as, nor should it be considered, financial or investment advice. Investing in gold or any other financial asset carries inherent risks, and decisions regarding investments should not be made solely based on the information presented here.
We strongly recommend that you consult with a licensed and qualified financial advisor or investment professional before making any investment decisions. They can provide you with personalized guidance and take into account your individual financial situation and goals.
We do not assume any responsibility for the accuracy, completeness, or suitability of the information provided on this website for your specific circumstances. Any reliance you place on such information is strictly at your own risk.
Any opinions offered by The Gold Information Network are The Gold Information Network’s opinions and not to be relied on by anyone for any purpose.
