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Personal Finance Gold

Anthem Gold Group Review

Best for no rollover fees

4.6 /5
LendEDU Rating

Gold IRA

  • Expert assistance in setting up a gold IRA
  • No IRA rollover fees
  • Opportunity for free storage, insurance and maintenance for up to 10 years
  • 24-hour risk free guarantee
  • Free shipping
  • Simple Re-Purchase Program to liquidate gold
  • Limited information on website
  • Need to talk to a representative for pricing
  • Only in business for one year

When you’re ready to diversify your investments with precious metals, Anthem Gold Group makes the process easy. The company was founded with the goal of offering gold, silver, and platinum products at competitive prices. It can also help you set up a gold IRA.

Anthem Gold Group began operations in Woodland Hills, California, in 2023. Since then, it has garnered numerous five-star reviews. The company promises expert guidance and world-class customer service. In this Anthem Gold Group review, we’ll take a closer look at what the company has to offer.

How do you open an Anthem Gold Group IRA?

You can purchase precious metals such as coins and bars from Anthem Gold Group, but many investors prefer the tax benefits of a gold IRA. At Anthem Gold Group, you’ll take a simple three-step process to open one of these retirement accounts. 

  1. Create and fund an account: You’ll need a special self-directed IRA to hold precious metals in your retirement account. Anthem Gold Group offers expert advice to help you set up and transfer money into this account.
  2.  Convert account assets to precious metals: Once you’ve set up the account, you can purchase products from Anthem Gold Group with the available funds. You can hold eligible precious metals in the IRA and get the associated tax benefits.
  3. Ship metals to a depository: The IRS requires precious metals to be stored in an approved depository to receive tax benefits. Anthem Gold Group offers a complimentary shipping service to complete this final step in opening a gold IRA.

Throughout this process, you’ll need to make several decisions, including:

  •  Custodian: The IRS requires self-directed IRAs to have a custodian that oversees the account. Equity Trust Company and STATA Trust Company are two popular choices. Anthem Gold Group works with Equity Trust.
  • Depository: This is a secure location to hold your precious metals; using one is an IRS requirement. Anthem Gold Group uses the Delaware Depository for its customers’ accounts.
  • Metals: Only precious metals that meet certain purity and manufacturing standards can be held in a self-directed IRA. With the exception of some American Eagle coins, gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must have 99.95% purity.

When you open your account with Anthem Gold Group, you’ll purchase precious metals from its inventory. Once you have an established self-directed IRA, you can make future contributions from other gold dealers if you’d like.

How much does an Anthem Gold Group IRA cost?

It is common for gold IRA companies to charge an initial setup fee for the creation of your account plus ongoing annual service fees for its administration.

Anthem Gold Group doesn’t share a fee schedule online, but it advertises 100% free rollovers to move money from your current IRA to your new gold IRA. That comes with free storage for up to 10 years for qualified accounts. The number of free years depends on the amount you invest in the IRA.

According to an account manager for the company, the custodian and the depository assess all fees associated with gold IRAs set up through Anthem Gold Group. Anthem Gold Group does not charge any IRA fees. If a customer qualifies for free storage, the dealer will send a reimbursement check or provide an account credit for the amount paid to the custodian and depository.

Here’s how the fees break down for the first year:

CostDetails
One-time setup fee$50
Wire transfer fee$30
Annual maintenance fee$125
Annual storage fee$100

The annual maintenance and storage fees are flat, regardless of your account’s value. 

Anthem will also ship your metals for free, and it offers a Simple Re-Purchase Program that can make it easy to liquidate your gold when you’re ready to cash out. Anthem Gold Group states it charges no fees to use the program.

Of course, you’ll pay for the precious metals. With market prices for precious metals fluctuating on a daily basis, you’ll need to contact Anthem Gold Group to get pricing information on the items that interest you.

Where does Anthem Gold Group store my metals?

Anthem Gold Group doesn’t store metals, but it provides complimentary shipping to the Delaware Depository.

A depository is an IRS-approved facility that securely holds your precious metals until you would like to take distribution from your IRA. Depositories typically have enhanced security, and most carry significant insurance to protect against losses because of theft or natural disasters.

Popular depositories include the following:

  • Delaware Depository
  • A-M Global Logistics
  • IDS Group
  • Dakota Depository

Most depositories offer two storage options:

  • Commingled storage: Also called nonsegregated or allocated storage, this option stores your precious metals in a vault alongside other investors’ gold and silver. When you withdraw, you’ll get precious metals of the same type as you deposited, but they may not be the same bars and coins.
  • Segregated storage: Your gold and precious metals are stored separately from other customers’. This assures that when you make a withdrawal, you’ll get back the same metals you deposited.

Segregated storage is more expensive than commingled storage, but some people prefer to know their gold is stored separately.

How do I see how my Anthem Gold IRA is performing?

Once you’ve opened a gold IRA through Anthem Gold Group, you should get quarterly statements from Equity Trust. These could be mailed, sent electronically, or accessed online.

Each custodian’s statement may be formatted differently, but Equity Trust includes the following sections, among others:

  • Asset summary
  • Account activity
  • Recent transactions

The asset summary will list the value of your precious metals based on the current spot price, also known as the melt value. When you look at your first statement, don’t be surprised if this amount is less than you paid for your precious metals. Gold dealers add a premium—or markup—to their products, which the statement won’t show.

The spot price represents the value of your gold at a particular moment and isn’t necessarily the same as the price you’ll be able to charge when selling your gold in the future.

You can monitor your investment’s performance between statements by watching the daily spot prices for gold and precious metals online. Anthem Gold Group provides pricing and historical charts on its website, making it easy to see how much precious metals are worth today and where their prices are trending.

Can I withdraw from my Anthem Gold Group account?

IRAs are subject to government rules. While you can make a withdrawal from a gold IRA at any time, you could lose tax benefits or even pay a penalty if you take a distribution too early.

Generally speaking, you must wait until age 59½ to make a penalty-free withdrawal from an IRA. Distributions taken before then may be subject to regular income tax plus a 10% penalty.

Once you reach age 59½, you can make withdrawals from your account as you’d like without fear of a penalty. If you have a traditional IRA, the value of your distribution will be subject to income tax. If you have a Roth account, withdrawals are tax-free.

You can use Anthem Gold Group’s Simple Re-Purchase Program to cash out your metals. You also have the option to make a withdrawal by taking physical possession of your gold, silver, platinum or palladium. In that case, the depository will ship the metals to you.   

Pros and cons of Anthem Gold Group

Anthem Gold Group has a robust selection of precious metals, which makes setting up a gold IRA easy. Along with an IRA account, the company offers benefits, such as free storage for up to 10 years and free shipping. Plus, liquidating your gold can be an easy process with the Anthem Simple Re-Purchase Program.

Still, this is a newer company with a short track record of success. Plus, it offers limited information on its website, so you’ll need to call for pricing details.

Overall, here’s what we consider to be the Anthem Gold Group’s pros and cons.

Pros

  • Expert assistance in setting up a gold IRA

  • No IRA rollover fees

  • Opportunity for free storage, insurance, and maintenance for up to 10 years

  • 24-hour risk-free guarantee

  • Free shipping

  • Simple Re-Purchase Program to liquidate gold

Cons

  • Limited information on the website

  • Need to talk to a representative about pricing

  • Only in business since 2023

Is Anthem Gold Group a reputable company?

Although a new business, Anthem Gold Group is registered in California and accredited with the Better Business Bureau (BBB), earning an A-minus rating there.

So far, Anthem Gold Group has proven popular with customers and garnered numerous five-star reviews. Here are its current ratings on major review sites.

SourceCustomer ratingNumber of reviews
Trustpilot4.6/522
Google5/545
Better Business Bureau5/530
Collected on June 13, 2024.

Customers cite Anthem Gold Group’s excellent customer service. Some reviews also note that the company’s prices were better than those found elsewhere. As of this writing, no reviewers have left negative reviews for Anthem Gold Group.

How we rated Anthem Gold Group

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

Anthem Gold Group was compared to several gold IRA 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.

ProductBest forLendEDU rating
Anthem Gold Group IRANo rollover fees4.6/5