Advantage Gold Review

3.8 _/5

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Gold & Other Precious Metals

• Excellent customer service reviews
• 2 IRA custodian options
• Open an account online without spending time on the phone
• Platinum and palladium coins available in addition to gold and silver
• Buyback program available
• Extensive educational resources for customers

• Unclear pricing online
• Precious metals appear to be unavailable for purchase outside an IRA
• Charges for shipping and insurance on purchases

Los Angeles-based Advantage Gold touts itself as the No. 1-rated gold company in America, thanks in part to earning Best of TrustLink honors for five straight years. The firm has been in business for eight years, and both its co-founders have worked as executives for national U.S. Mint-listed dealers.

Advantage Gold specializes in gold IRAs and has developed a streamlined process to help customers roll over an eligible 401(k) to precious metals. The company is a member of the Industry Council of Tangible Assets and the American Numismatic Association. Keep reading for more about the company’s fees, minimum investment requirements, customer reviews and complaints, and more.

What does Advantage Gold offer?

IRAs—aka individual retirement accounts or arrangements—are the core of Advantage Gold’s business. Along with those IRAs, Advantage Gold offers various coins that meet IRS requirements for gold and precious metal investments in a retirement account.

Advantage Gold IRA

A gold IRA is a self-directed IRA that comes with tax advantages. These retirement accounts allow workers to hold investments beyond the typical stocks and bonds you’ll find in a traditional IRA.

With an Advantage Gold IRA, you can invest in more than just gold. Your options include gold, silver, platinum, and palladium.

Precious metal coins

The IRS has specific requirements for the precious metals that can be held in a self-directed IRA, such as a gold IRA. For instance, collectible coins aren’t eligible, and bullion must be of a certain purity level.

Advantage Gold offers its customers a range of coins that meet IRS standards.

What is Advantage Gold’s minimum investment requirement?

Advantage Gold requires a minimum investment of $5,000 to open a gold IRA account. This threshold helps ensure clients diversify their portfolios and benefit from the tax advantages of holding precious metals in an IRA.

How much does Advantage Gold cost?

Advantage Gold provides a significant amount of information on its website, but it doesn’t mention pricing or whether it requires a minimum investment.

However, the company works with two IRA custodians—STRATA Trust and Equity Institutional—and these companies include fee schedules on their applications. 

Potential Advantage Gold fees

The following are common gold IRA fees:

• Setup fee: $50
• Annual fee: $95 – $100
• Storage fee: $100 – $150
• Other processing or service fees based on account activity

The IRS requires gold IRA holders to have a custodian to oversee their accounts. The government also requires precious metals in a self-directed IRA to be stored at an approved depository.

When it comes time to purchase coins for an IRA, the Advantage Gold client and shipping agreement notes that most common bullion has a 2% to 7% markup.

Advantage Gold customer reviews and complaints

Source	Rating	Number of reviews
Better Business Bureau (BBB)	4.88/5	74
Google	5.0/5	822
Trustpilot	4.9/5	1,666
TrustLink	5/5	491

Reading Advantage Gold reviews such as this one can help you understand how the company operates, but it’s important to see how its customers rate their experience. A look at online reviews for Advantage Gold reveals that most people seem satisfied.

Advantage earns consistent praise and a five-star score on TrustLink.

This comment left at the BBB is representative of many of Advantage Gold’s customer comments:

Excellent customer service, they provided educational videos, talked with me multiple times about the various products, and they explained everything thoroughly.

Personalized attention and exemplary customer service are the recurring themes in many customer reviews. While the reviews are mostly positive, several customers recount negative experiences with Advantage.

A poor review on the BBB website stated:

Not happy with my purchases as I feel taken advantage of as a new investor three years ago. Mark up on the coins is way higher than should be. I didn’t work 40 years to near retirement and have 20% of my fund be taken by the company in overcharges for metals.

A Trustpilot reviewer said:

When I opened the account, I sent money and when I actual was shown what my account had in it and what it was worth (about a month later), I had lost $60000.Three times now that I have had to sell coins to get my RMD ,I have lost so much money. The last time I sold $22000 in coins and received $18000 in cash. Someone is getting paid a high commission.This company has ripped me off big time.

Where does Advantage Gold store my precious metals?

To be eligible for the tax advantages of a gold IRA, you must store your precious metals in an approved depository. Advantage Gold is not a depository itself, but it will send your purchase to an approved company for storage.

For instance, Delaware Depository is a common option for precious metal storage. The company has multiple storage facilities, keeps all bullion off its balance sheets and allocated to owners, has competitive storage rates, and carries $1 billion in all-risk insurance.

Can I see how my precious metals investments are performing?

Just as you can follow the price of stocks and bonds on investment websites, you can track the value of gold and other precious metals.

One popular website for this information is goldprice.org. In addition to showing current spot prices, you can use one of the website’s gold calculators to see the current value of specific coins you own.

Meanwhile, on Advantage Gold’s website, you can use a tool to see how gold has grown in value compared to other investments, such as oil and the S&P 500. You can customize the interactive charts for specific investment amounts and dates.

How to open an Advantage Gold IRA

Opening an account with Advantage Gold is simple. If you have questions or want to discuss your options, call the company’s toll-free number—888-501-900—to speak with a knowledgeable representative.

Or if you already know you want an Advantage Gold IRA, you can skip the call and complete the following steps online.

Step 1: Complete a self-directed IRA application

When you hover over the “Open a Gold IRA Account” button on the Advantage Gold website, you have two options for an account custodian: STRATA Trust or Equity Institutional. Click your preference, and then open the Self-Directed IRA Application, which you can complete online.

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Tip

Contact Advantage Gold at 888-501-9001 for assistance choosing a custodian.

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Step 2: Sign client and shipping agreement

Next, read and sign the Advantage Gold Client and Shipping Agreement. This lays out all the terms of the company’s service, including its refund, shipping, and buyback policies.

Step 3: Upload a financial statement

To fund your Advantage Gold IRA, you must roll over a balance from an eligible retirement account. These accounts include:

• IRAs, including traditional, Roth, SEP, and Simple accounts
• Tax-sheltered annuities
• Certain pensions
• Certain 401(k), 403(b), 457(b), and Thrift Savings Plans

Once you upload a statement from the account you plan to roll over, a specialist will review the document to confirm eligibility.

Step 4: Sign a precious metals investment direction and disclosures form

The final step is to sign a disclosure document that contains information about your account terms and allows you to select the depository for your gold and precious metals.

Pros and cons of Advantage Gold

Like all personal finance companies, you’ll find advantages and disadvantages to using Advantage Gold for a precious metals IRA.

Pros

• Excellent customer service, as evidenced by many positive online reviews

• Two IRA custodian options

• Open an account online without spending time on the phone

• Platinum and palladium coins available in addition to gold and silver

• Buyback program available

• Extensive educational resources for customers

Cons

• Unclear pricing online

• Precious metals appear to be unavailable for purchase outside an IRA

• Shipping and insurance charged for purchases

How can I withdraw from my account?

When you’re ready to withdraw from your IRA, you can take possession of your gold or precious metals or liquidate some by selling it back to Advantage Gold.

By law, Advantage Gold cannot guarantee it will buy back gold from its customers, but it states its intent to purchase back precious metals at fair market prices.

Also, keep in mind that the IRS has certain rules regarding when money can be withdrawn from an IRA. If you withdraw money or precious metals from your account prior to age 59½, you could pay a 10% tax penalty.

Meanwhile, if you have a traditional IRA, the government will require you to begin taking what are known as required minimum distributions (RMDs) at age 73. Failure to do so could result in a tax penalty equal to 20% of the amount you failed to withdraw. Talk to a tax professional for more about IRA withdrawal rules to ensure you’re complying.

Where to find Advantage Gold alternatives

Advantage Gold is a notable player in the gold IRA space, but it’s always wise to explore and compare other options to ensure you find the best fit for your investment needs. Different gold IRA companies offer varying levels of customer service, fees, and selection of precious metals, which can have an impact on your investment experience and returns.

When searching for alternatives to Advantage Gold, consider evaluating companies based on customer service, fees and costs, selections of precious metals, and reputation and reviews.

Before you settle on a specific company, be sure to review our list of the best gold IRA companies.

How we rated Advantage Gold

We designed LendEDU’s editorial rating system to help readers find companies that offer the best gold IRAs and selection of precious metals. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared Advantage Gold to several gold companies using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating and best-for designation, recapped below.

Product	Our rating
Advantage Gold IRA	3.8/5