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As the stock market teeters and inflation rises, people start to panic. Unfortunately, inflation causes the dollar value to drop.
To hedge against inflation, consider investing in precious metals from companies like Monetary Gold.
In this Monetary Gold review, we will share the results of our research.
We will give you all the details so that you can make the right decision. Read to the end to get our final verdict on Monetary Gold.
Monetary Gold is a dealer of precious metals. Monetary Gold offers various services geared toward helping people invest in precious metals for their retirements.
You can customize these services to meet your individual needs.
Monetary Gold was founded in 2000 and is located in Woodland Hills, CA. The company sells precious metals and guides investors in opening a self-directed IRA.
We have researched many gold companies and have rarely come across such a conundrum. Most companies offer extensive information on the management team and their background.
In our research, we have looked high and low to find this information and simply cannot.
The Monetary Gold website has no information about its founders or management team. We do know the company uses the Delaware Depository.
If you have researched Monetary Gold at all, you are likely looking to know the facts. You want to know if this company is legit. Our Monetary Gold review will contain the good and bad. We will tell you about any complaints and red flags we have discovered in our research.
At this time, Monetary Gold has an A+ rating on the BBB. There has been one recorded complaint in the last three years. There are no current open complaints.
Monetary Gold has an A rating on BCA. Their best rating is AAA, and there have been no complaints in the last three years.
If you look on Trustpilot, you will find the company has a 3-star rating. There is only one review on Trustpilot at the time of this writing, and it is warning others that the company is a scam.
The complaint on Trustpilot was lodged almost 2 years ago. The customer claims the company never resolved his issues and kept his money hostage. The review also states the company was not honest about its fees.
When reading Monetary Gold reviews, you must keep one fact in mind. No company can offer perfect service for every customer's needs.
The company has many glowing reviews, so we were surprised to find this negative review on Trustpilot.
We have not seen many poor reviews, so we wanted to delve deeper and make sure there were no lawsuits. At the time of this writing, we could not find any indications of any pending or settled lawsuits.
You have a right to know all the facts when choosing a company for investing in precious metals. After all, we are talking about your financial future.
The following are some of the pros and cons we have discovered in our research:
The minimum investment for Monetary Gold ranges from $5,000 to $10,000. The annual storage fee is around $100, depending on the value of the precious metals you are storing. This fee will cover your storage and the insurance that protects your precious metals.
Monetary Gold focuses on selling gold and silver coins. At this time, they do not offer precious metals like palladium or platinum. The following are some of the coins we found for sale on the website:
The company offers the usual investment options in the form of Gold Canadian Maple Leaf, Gold Austrian Philharmonic coins, and more. Because they offer affordable pricing, you can afford to invest in traditional IRAs for retirement living.
The physical precious metals you have access to will widen upon opening your account. Once again, if you are interested in gold bullion, make sure to ask.
The site does not list bullion coins, but they do say there may be options. We suggest contacting a representative and asking questions about the Monetary Gold products offered. You need to know the physical gold options before going further.
The company appears to want to provide educational services to the public. There are many gold and silver articles and videos on the website. The company also offers the latest news on gold and silver, which could prove helpful, especially for new investors.
In their commitment to educating the public, the Monetary Group offers free online workshops on precious metals, including rolling over an existing retirement savings account, the fragility of the American dollar, and physical gold versus ETF.
You can contact Monetary Gold to sign up for a free workshop. These workshops are held frequently.
Monetary Gold allows you to purchase gold, silver, and other precious metals on their website or by telephone at (818) 462-8050. There are three steps involved when you want to buy precious metals for gold IRAs or your personal collection:
It is important to note that every purchase you make from Monetary Gold comes with a Certificate of Authenticity. The precious metals purchased will not cause a financial risk.
You will need a custodian and depository to invest in gold or silver. Monetary Gold has partnered with the GoldStar Trust Company, and they will store the coins in the Delaware Depository. If interested, you should ask about international storage options.
Many people these days are under stress over the economy. Just when things seem to improve, they suddenly worsen. To work with Monetary Gold, you are going to need to open a gold IRA. This process is easy, depending on the type of retirement accounts you have.
For most IRAs, there are only three main steps. You must ensure you have the proper custodian to guide you through the process.
You can simply contact the custodian and fund your account if you have an existing qualified IRA. Even if you have a 401K, there are options for rolling over to invest in gold and other precious metals. Take the following steps:
With an IRA specialist's help, opening a precious metals IRA will not be overly difficult. Precious metals IRAs give you diversity in your investment portfolio and allow you to purchase bullion coins at open market demand prices.
With direct buyer pricing, you will not have to worry about exorbitant markups on your semi-numismatic coins or the precious metal for your IRA.
One of the things that stood out to us was the extremely knowledgeable staff members. Talking with a financial advisor will give you great peace of mind as you invest in precious metals. Trying to get started alone can lead to stress.
Their BBB rating is also a significant plus. We contacted Monetary Gold Group to ask them about complaints and found the company does try to solve these issues right away.
As we researched Monetary Gold, we were at first impressed by the services they offer. We were unhappy with the lack of transparency on their gold prices, annual fee, and price fluctuations.
While there are always regulatory risks when investing, the company is not a scam. If you want to invest in private storage IRAs, we suggest you take note of the information we have provided and also conduct your own research.
In your research, make sure to investigate Gold Star Trust and stay abreast of capital appreciation. Learn as much as you can about certified graded coins before you start purchasing.
The following are some commonly asked questions:
The company is, without a doubt, legit. They have been around for years and have a solid BBB rating.
Unfortunately, this is a question we have not found the answer to as of yet. We will keep searching.
Dave Ramsey has repeatedly stated that he no longer invests in precious metal IRAs.
Investing in certified graded coins allows you to diversify your investment portfolio. You only need to transfer funds to get started.
Unfortunately, we do not recommend Monetary Gold. While we feel they are trustworthy and not scam because Monetary Gold works for some people, we do believe there are better options.
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.
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