In my extensive experience within the precious metals industry, I've consistently encountered commendations regarding Monetary Gold's standing as a premier precious metals dealer. Both seasoned and novice investors alike have lauded their competitive pricing for gold and silver. This pricing approach not only fosters trust among their wide customer base but also earns admiration.
However, considering factors beyond their pricing, the question that emerges is: can Monetary Gold genuinely be deemed a trustworthy partner for precious metals investment, or is their reputation potentially exaggerated? Is their performance aligned with their acclaim, or could their prominence be overstated?
This review of Monetary Gold will look directly at what the company has to offer and what sets it apart, and my verdict on whether or not you should invest with the company.
Monetary Gold: A Brief Overview
Monetary Gold was founded in 2000 and is currently headquartered in Woodland Hills, California. The company’s founders shared a common goal of helping retirees and everyday people develop a diversified investment strategy. One that can help them protect their hard earned assets from the constant fluctuations in the market.
They also realized pretty early in the piece that investing in gold was necessary in the current economic climate. However, they believed that you shouldn’t have to pay such high commissions to acquire it. This conviction eventually led to the birth of Monetary Gold — a precious metals dealing company which offers extremely competitive prices with no additional markups.
Since its inception, Monetary Gold has risen to become one of the finest gold IRA companies in the industry. The company has even received an A+ rating on Better Business Bureau due to its reliability as a proven precious metals dealer.
I’ve also noted that the company’s customer service has played a huge role in this regard. Despite the company only being 23 years old, most of its precious metal professionals have over 50 years of experience in the precious metals industry. They've used their experience to educate the company's customers on investment options for greater wealth generation — especially important in today’s economic uncertainty where traditional investments like stocks and bonds are losing value quickly.
I’d like to add that from my experience and understanding, the company’s focus on stellar customer service is one of the major reasons for its success and customer satisfaction.
What Makes Monetary Gold Stand out?
Considering my vast years of experience and research, here are some factors that I believe contribute to the company’s overall reliability and positive reputation.
Offers a Range of Precious Metals
Having invested with Monetary Gold, I must say that their extensive selection of gold, silver, platinum, and palladium coins and bullions truly impressed me. The ability to choose between owning these physical assets or entrusting them to a precious metal IRA offers valuable flexibility to customers like me.
What particularly caught my attention, drawing from my experience in the precious metals industry, is their diverse range of coins sourced from renowned royal mints like Canada, Germany, and Britain. This aspect is immensely convenient for investors like myself who seek a variety of investment avenues.
In the realm of rare coin offerings, Monetary Gold stands out by presenting options such as:
- $20 Saint Gaudens coin 0.97 oz
- $20 Liberty coin 0.97 oz
- $10 Liberty coin 0.48 oz
- $10 Indian coin 0.48 oz
- Morgan Silver Dollars 1 oz
- Peace Silver Dollars 1 oz
These were among the offerings I had the privilege of choosing from when I invested with them. It’s evident that their commitment to providing diverse and historically significant coins adds an extra layer of credibility to their offerings.
Transitioning to their platinum and palladium options, I was equally impressed by the selection:
- Platinum American Eagle
- Platinum Maple Leaf
- Palladium Maple Leaf coin
However, it's important for you to know that not all of the coins Monetary Gold offers are eligible for investing in an IRA. I realized that only gold and silver proof coins qualify for investment in a self-directed IRA, and even then, only a select few are eligible. This distinction becomes clearer once you engage in a conversation with their team.
Besides these considerations, Monetary Gold broadens its offerings to include other investment choices, such as semi-numismatics and certified graded coins, which serve to entice collectors and diversify investment portfolios. This approach showcases Monetary Gold’s commitment to accommodating various investment preferences and interests.
Monetary Gold pride themselves on providing precious metals at some of the best precious metal dealer prices in the industry. In fact, they’re currently positioned as one of the very few precious metals dealers who “direct deal” precious metals to their customers. To put it plainly, the company sources these metals directly without an added markup.
This practice allows them to follow a competitive pricing structure that eliminates all middle men, thus allowing them to keep their prices close to the spot price of these coins. Doing so helps both them and their customers make a profit on the sale. Additionally, this method enables customers to gain from price fluctuations in precious metals without risking their finances, while also potentially profiting from these changes.
Not to mention, the company also frequently offers discounts and promotions to help investors save money on each purchase.
Secured and Insured Storage
Through my experience in this industry, I’ve learned that investing with companies that offer you secured storage is always better — which is another reason why I rate Monetary Gold so highly. Not only does it secure your investment, but it also allows you to stay stress-free regarding the whereabouts of your coins until it’s time to liquidate them.
Monetary Gold goes a step further by exclusively providing insured storage choices. Their sole IRS-approved third-party depository, the Delaware Depository in Wilmington, is among the largest, backed by Lloyds of London.
From my own involvement with Monetary Gold, their commitment to secure storage was evident. They guided me to well-insured options, instilling confidence in my investments. My experience with the company only solidifies their commitment to security, credibility, and clients’ success.
The security for the depository is extremely tight with numerous alarms and devices that are monitored around the clock. Lastly, due to the depository being located in Delaware, customers can also enjoy many of the widely known tax breaks Delaware offers its business constituents.
Like many other top investment partners, Monetary Gold offers its customers full assistance in creating a new self-directed IRA with the company or rolling over their existing assets from an IRA or 401(k).
The process I myself went through was very easy and uncomplicated. Firstly, I rang up the company’s number and was connected with one of their customer service representatives. He guided me on how to set up a self-directed gold IRA with the company. After that, he helped me roll over my assets from my existing traditional IRA.
The next step was finding a custodian to take charge of my account. Now, the expert I was assigned told me that Monetary Gold does not have any agreements with certified custodians. But he, along with other experts, did suggest specific custodians based on their own direct experiences. These include:
- Equity Trust
- Kingdom Trust
- Goldstar Trust
Once you’ve created a brand new SDIRA with them, Monetary Gold will assist you in rolling over you funds from a:
- Roth or traditional IRA
- SEP IRA
Customer Education and Guidance
Monetary Gold has made it their mission to educate any and all prospective customers on the benefits of investing in gold, silver or other precious metals. The company’s also big on informing its investors about the best precious metal investment options they have based on their specific needs and requirements. In fact, Monetary Gold is currently offering multiple free information kits including a “Gold IRA Investment Guide” and “Coin Guide”.
Their website’s resources section shares details about new investment opportunities and current gold and silver prices. They also provide regular updates on the gold vs. dollar scenario.
I myself had a great experience hopping on a call with one of their customer service representatives. I immediately wanted to test how he’d respond to being asked a bunch of questions that were quite basic in nature.
To my surprise, the expert dealt with all of my questions patiently, while slowly taking me through the process of setting up a self-directed gold IRA. He took a vested interest in learning about my financial goals while also explaining how the investment aligns with my goals and can help me preserve my wealth.
Near the end of the call, I felt quite reassured that someone knowledgeable was guiding my investments and addressing any concerns I had. This example underscores how Monetary Gold’s customer service extends beyond just information sharing to practical guidance tailored to individual investors' needs.
Flat Shipping Fees
All top precious metals dealers understand that to grow their customer base they must offer incentives for new customers.
Monetary Gold does just that by offering free shipping for new customers, a fact I realized on my own when I decided to invest with the company. Granted, the company charges customers after the first few purchases but I can attest to this fee being fairly low and always fixed.The fee does not change with the price or quantity of the metals being sold.
The flat shipping fee is charged through either UPS, USPS or FedEx. After that, your precious metals will be shipped to either your home or chosen depository.
How to Invest With Monetary Gold?
On their official website, Monetary Gold has described an easy and fairly uncomplicated process that customers can use to open a self-directed IRA and then fund the account from scratch or rollover funds from their existing IRA or 401(k). Here’s how the process goes:
Set up IRA Account
Like I mentioned before, the first step you have to take is establish a gold IRA account with Monetary Gold. Fortunately, you don’t need to contact or pay a financial advisor to set up your gold IRA for you. The company’s in-house experts can guide you through the process of completing your application free of charge.
You can contact one of their experts through the number displayed on their website. You’ll also need your social security number and some other personal documents to complete the registration process.
Fund your IRA
When I set up my IRA account, I faced confusion with this step too. But my designated advisor helped me out, just as they will for you. To start your gold IRA and buy precious metals, you'll fund it from scratch or by rolling over assets from your existing IRA. Your advisor will guide you through the process effortlessly.
Acquire Precious Metals
After funds are successfully transferred into your account, expect a call from your precious metals expert. They will assist you in executing your first purchase order and will arrange for the metals to be sent to your chosen depository or your home, as per your preference.
All your metals will be examined, processed and insured upon arrival. After this, your Monetary Gold IRA specialist will hand over the reins to your chosen custodian.
Liquidate your Assets
Once your precious metals are in the hands of your custodian, you’ll be able to monitor your account’s progress online. The company will give you access to their online dashboard from where you can check your assets’ current valuation. Whenever you decide to liquidate your assets, the company will guide you through that process as well.
Monetary Gold Fees
Currently, Monetary Gold charges two types of fees. The first one is their flat shipping fee which I've already explained in detail above. The second is their annual storage fee. Amazingly, the company does not charge any fees when you open an IRA account with them.
When I invested with the company, Monetary Gold offered me the choice of storing my precious metals at my home or any depository of my choice. I went with the depository option and was charged an annual insurance fee of $100 for up to $100,000 of gold. After the initial $100,000, the company informed me that they will charge $1 for every $1,000 of gold I invest in.
Thus, if the total worth of the gold in your account is $150,000 then the annual storage fee you’ll have to pay would be $150.
Monetary Gold Rating on Consumer Sites
Consumer Protection Agency
Number of Reviews
Complaints in Past 12 Months
Better Business Bureau (BBB)
Business Consumer Alliance
1 review that is below 4-star
0 reviews that are below 4-star
Pros & Cons
After being in business for 23 years, Monetary Gold is now recognized as a major player in the industry. Deservingly as well, considering the wide range of impressive features the company boasts.
In terms of my recommendation, I wholeheartedly recommend Monetary Gold for any individuals looking to invest in precious metals. But first, contact their customer service for more clarification on the services they offer.
Regardless of whatever decision you make, we hope this article provides you with enough information to make a well-informed investment decision that fits your future financial goals. However, If you’d still like to look at other options, you can use my article on the best precious metals companies as a guide.
Frequently Asked Questions
Monetary Gold has received a glowing A+ recommendation from Better Business Bureau. Along with some positive reviews from customers who appreciated the patience the company’s advisors showed.
No, it does not. You can transfer or rollover funds from any qualified retirement account tax free and penalty free. You’re simply transferring assets from one custodian to another.
The minimum amount for investing in a gold IRA is $5,000 to $10,000 depending on your custodian.