Patriot Gold Review


by Grant HEnson

*The owners of this website may be paid to recommend some precious metals companies. The content on this website, including any positive reviews of these companies and other reviews, may not be neutral or independent.

Patriot Gold stands out as a prominent company in the precious metals industry. Throughout my extensive career as a precious metals expert, I've heard a lot of positive feedback from satisfied customers — all praising the company's competitive prices and its commitment to fair treatment.

However, investing in precious metals is a significant decision that warrants careful consideration of your options. So, before recommending Patriot Gold to any investor, I wanted to gather all the facts.

I decided to delve deep into the services provided by Patriot Gold to offer a clear verdict on whether it’s a worthy choice for investment. This article summarizes the information I’ve gathered about the company.

Patriot Gold: A Brief Overview

Patriot Gold, a relatively new player in the precious metals industry, was founded in 2016. The company is under the leadership of its CEO and founder, Jack Henney, a seasoned veteran with over two decades of experience in both the precious metals and general investment sectors. Jack's background includes being the son of a successful politician and insurance broker, providing him with exposure to the corporate world from a young age. Furthermore, he has worked at various tech startups and algorithmic automated trading companies over the years.

These experiences in the industry eventually led Jack to conceive the idea behind Patriot Gold – a secure haven tailored for retirees seeking to invest their retirement funds in precious metals.

At Patriot Gold, retirees have the opportunity to establish a new gold or silver IRA with the company. This IRA can then be used to acquire IRA-eligible gold and silver coins, effectively diversifying their investment portfolios. The ultimate goal is to enable retirees to invest in stable assets that can safeguard their wealth against potential market downturns.

To achieve this, Patriot Gold facilitates connections with experienced and professional advisors who provide guidance and support throughout your investment journey, ensuring you’re well-informed every step of the way.

The company currently has an A+ accreditation from Better Business Bureau and was voted Consumer Affairs’ top rated gold and silver dealer nationwide for 5 consecutive years starting from 2016 to 2020. From my understanding, one factor that’s definitely contributed to Patriot Gold's glowing reputation is its stellar customer service. From what I’ve seen, the company only employs highly experienced industry professionals who’ve worked in some of the largest retail precious metal firms in the U.S. 

The expert knowledge they provide has actually led to an influx of constant fresh investors, inevitably becoming a cornerstone of their success.

The Best Gold IRA Companies in 2024

Before I get started with this review, I want to inform you that I have reviewed dozens of precious metal IRA companies over two decades, and I have curated a list of the top 6 gold IRA companies in 2024. I highly recommend reading this article before proceeding with an IRA transfer.

The #1 Best Gold IRA is Augusta Precious Metals, with its A+ rating from Better Business Bureau, hundreds of 5-star reviews, and lifetime account support. Read my review on Augusta Precious Metals, or visit the official Augusta website to learn more. 

What Makes Patriot Gold Stand Out?

After investing with the company myself and thoroughly researching its offerings, I’ve come up with the following factors that I believe contribute to Patriot Gold’s overall recognition and reliability.

Investors Have an Opportunity to Work Directly With the Owners

Previously I mentioned how Patriot Gold’s customer service was their most praiseworthy feature. Well there’s a reason for that; Patriot Gold actually allows new customers to get directly in touch with the owners and senior partners of the company. These are individuals who’ve been working in high-profile retail precious metal investment firms for over 50 years now. Their experience helps them in guiding customers towards the right investment that fits their budget, needs and requirements. 

At Patriot Gold, these seasoned professionals are there to support you throughout your investment journey, providing a helping hand at every turn. They’re readily available to address any questions or concerns you may have, ensuring that you receive expert guidance and personalized assistance every step of the way.

What sets Patriot Gold apart is the direct connection you’ll have with the owners. This transparency assures you that your hard-earned money is in safe hands. Their advisors understand the gravity of providing accurate advice, knowing the potential consequences for both your investments and their own company.

To test this, I actually hopped on a call with one of their customer service representatives. My call was immediately connected to one of the senior partners of the company. What I also found surprising was how humbly and patiently the expert dealt with all my questions about the entire process. All the while slowly guiding me through the steps of creating a self-directed gold IRA.  My interaction with the expert tells me that Patriot Gold is a company that employs supremely knowledgeable industry experts. Individuals who offer services beyond sharing plain information, to practical guidance tailored to individual investors' needs.

Gold and Silver IRAs

Another distinguishing feature that sets Patriot Gold apart from other leading investment partners in the industry is its focused approach. Patriot Gold exclusively offers gold and silver investment options to its clients. The company's commitment lies in providing proven gold and silver assets that have consistently delivered robust returns to investors.

Having invested with Patriot Gold, I can attest to their rigorous approach. They carefully select gold and silver investments, ensuring they maintain value in both domestic and international markets. This instills confidence that serious losses are less likely.

Their transparent labeling of IRA-eligible assets on their website simplifies decision-making. Patriot Gold’s product range includes silver and gold coins from respected royal mints worldwide, like The United Kingdom, Australia, and Canada. Here’s some of the more popular and rare gold and silver coins Patriot Gold offers:

  • The Mayflower gold coin from the Royal Mint ¼ oz.
  • The U.S/U.K Atlantic alliance gold coin from the royal mint.
  • Royal Canadian gold polar bear and cub coin.
  • Silver Kennedy Half Dollar BU.
  • Proof silver American eagle 1 oz.
  • Australian spotted eagle ray 1.5 oz silver coin.

IRA Rollovers

It falls on any reputable precious metal investment company to help their customers set up and fund the IRA they’ve created. Patriot Gold excels at this as they offer their customers step by step guidance and support when setting up their IRA. This is in addition to any help they might need in rolling over their assets from an existing traditional IRA or 401(k). 

I actually decided to follow up on my last call with the company, only this time I’d ask the expert to take me through the entire process. The expert was incredibly clear and direct in his guidance, which led to my self-directed IRA being set up within 24 hours. 

During the call I was also told that I can initiate the creation of my IRA through a form displayed on the website. After that, my designated customer service expert helped me rollover my assets from my traditional IRA into the new self-directed IRA. When the transfer was complete, the next step was to find a custodian that could take charge of the account. Now, Patriot Gold also provided me with a list of preferred IRA custodians during our call, which I’m sharing below for your reference:

  • STRATA Trust
  • Kingdom Trust
  • Goldstar Trust

Moreover, during the call, the expert I consulted with also told me about the various accounts from which Patriot Gold allows rollovers. These are:

  • Roth or Traditional IRA
  • SEP IRA
  • 401(k)

Free Investment Guide

I truly value investment partners that prioritize their customers, which is why I hold Patriot Gold in such high regard. Their commitment to customer education is commendable. As an example, they offer a free investment guide to young investors visiting their website. This guide imparts valuable insights into the significance of diversifying one's portfolio by including investments in precious metals. I actually decided to grab a copy for myself and I can tell you that the guide is incredibly comprehensive. Not only does it list out each and every benefit of investing in gold and silver in clear detail — it also deep dives into why it’s important to acquire precious metals in today’s economic climate. 

This automatically instills loyalty in any one who visits the site and also shows how much the company cares about the thought process and well being of new investors. Additionally, the company also allows new investors to chat with them online through a chatbot that works much faster than communicating through email. 

Customer Education and Guidance

Patriot Gold, like many other top precious metal investment firms, put great focus on ensuring that their customer base gets accurate education about investing in precious metals. With the main purpose being to make investors aware of how important stable assets like gold or silver are when the economy’s going through a downturn. 

To gain deeper insights for research purposes, I personally engaged in a call with one of Patriot Gold's customer service representatives. During this conversation, the representative not only walked me through the process of establishing a self-directed gold IRA but also took the time to attentively listen to my financial objectives, current budget constraints, and existing investment portfolio.

Having absorbed all the details I provided, the expert then proceeded to explain how this investment aligned seamlessly with my financial goals and how it could serve as a safeguard for my wealth. What truly stood out was the engaging and personalized nature of the conversation. It was far more than just information sharing; it felt like receiving practical guidance tailored specifically to my unique needs.

Secured and Insured Storage

Patriot Gold also takes full responsibility of safeguarding your assets from the time you buy them till the time they reach the depository. For collectors and investors, Patriot Gold will ensure that the precious metals you’ve bought from the company are safely delivered either to your home or your chosen depository or bank. 

While for IRA owners, the company will ensure safe, secure and insured delivery and storage of precious metals in IRS-recommended depositories until ownership is handed over to your chosen custodian. 

During my call I was told that Patriot Gold has associations with some secure precious metals depositories that they regularly recommend to customers. These are:

  • Delaware Depository
  • Texas Depository

How to Invest in Patriot Gold?

Considering the vast amount of investment companies I’ve reviewed during my two decade tenure in the precious metals industry, I thought Patriot Gold’s process for setting up a self-directed IRA was comparatively quite simple and straightforward. If you want more detail, here’s how the process works:

Step #1: Open your Self-Directed IRA

In order to invest in precious metals you’ll need to create an SDIRA (self-directed IRA) with Patriot Gold. Fortunately, Patriot Gold does not require you to contact or pay a financial advisor to help you in setting up the account. 

Instead, the company provides you with a customer service expert that guides you through the entire process step by step. All you have to do is keep your social security number and some personal details at hand, and your account should be set up in no more than 24 hours. 

Step #2: Fund your IRA

After your gold or silver IRA is completely set up, you’ll be asked by your customer service representative to fund your account. Now, you can either do this by adding new funds to your account, or by transferring funds from your existing traditional IRA or 401(k) to your new SDIRA. 

Patriot Gold helps you out in this process as well by contacting your previous custodian themselves and connecting them to your new custodian so that the transfer can begin. 

Step #3: Acquire Precious Metals

As soon as you’ve added the minimum required funds to your account, you’ll receive a call from your designated advisor asking to discuss which precious metal you’ll be investing in. With your input, your advisor will review your current portfolio and recommend coins that you should invest in. 

Once you’ve purchased your metals from Patriot Gold, the company will handle their secure shipping to your chosen depository or your home. 

Step #4: Liquidate your Assets

After your custodian takes charge of your assets, the only time you’ll have to contact the company or your custodian again is when you need to sell and liquidate your assets. For that, you can again call the number displayed on the company’s website.

Patriot Gold Fees

Patriot Gold adopts a customer-friendly approach with their 'no fee for life' policy on qualifying IRAs. In essence, this policy translates to zero charges for customers when acquiring precious metals, as long as their initial investment meets or exceeds $25,000. I can personally vouch for this feature considering my initial investment with the company.

Apart from that, the company does charge a one time fee of $225 when setting up your gold or silver IRA for the first time. However, even this can be waived if you set up an account that has an initial investment of more than $30,000. 

Patriot Gold Rating on Consumer Sites

Consumer Protection Agency

Rating

Number of Reviews

Complaints in Past 12 Months

Better Business Bureau (BBB)

A+

0

0

Business Consumer Alliance

AA

17

0

TrustPilot

4.9/5

195

0 reviews that are below 4-star

Consumer Affairs

5/5

866

0 reviews that are below 4-star

Pros & Cons

Pros

  • Their experts have over 50 years of experience in the precious metals industry
  • Was voted top gold IRA 5 years running by business consumer alliance
  • Charge very little fee for setting up an IRA
  • Customers get direct access to the owners who advise them on their investments
  • Company provides direct pricing for its customers without any additional markup
  • Offer secured and insured storage at Delaware and Texas Depositories

Cons

  • Minimum investment value is a little high
  • Reaching their customer service department can be difficult during peak hours

The Verdict 

Despite being a relatively new addition to the precious metals investment industry, Patriot Gold has immediately established itself as a major player. A position that’s quite warranted considering the amazing number of services the company provides and its direct pricing system. 

However, I’d still recommend having an initial call with them to understand the ins and outs of the company a little better before you start working with them. 

No matter the decision you ultimately make, my hope is that this review has equipped you with the knowledge needed to make well-informed and educated choices regarding your investment future. If you’d like to explore alternative options, you can refer to my article on the best precious metals companies as a helpful guide.

Frequently Asked Questions

Is Patriot Gold Reliable?

Considering its A+ rating on Better Business Bureau and the fact that it has received the award for top Gold IRA five years running from Business Consumer Alliance, I’d say Patriot Gold is quite reliable as an investment partner.

Who is the CEO of Patriot Gold?

The CEO of Patriot Gold is Jack Henney, a 20+ year veteran of the precious metals industry. One who has worked in some of the largest precious metal investment firms in the world.

Does the IRS Tax Rollovers Into a Precious Metals IRA?

No, the IRA doesn’t tax rollovers into a precious metals IRA. You can transfer or rollover funds from any qualified retirement account tax free and penalty free.

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