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Personal Finance Gold

Patriot Gold Group Review: Gold IRAs & Precious Metals

Updated Mar 05, 2024
8-min read
TJ Porter Author Photo
Reviewed by TJ Porter
TJ Porter Author Photo
Reviewed by TJ Porter

Expertise: Credit, credit cards, investments

TJ Porter is a Boston-based freelance writer specializing in credit, credit cards, and bank accounts. He graduated with a degree in business from Northeastern University.

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Editorial Rating

Editorial Rating

What we like:

Best for limiting fees

What’s offeredPrecious metals IRA & coins and bars
Annual fee$180 for accounts under $100,000
$0 for accounts over $100,000
BBB RatingA+
Trustpilot Rating4.9/5
See how Patriot Gold Group compares to top companies
Best Gold IRA Companies

BBB and Trustpilot rating checked on March 15, 2021.

Patriot Gold Group is a precious metals company based in Los Angeles, California. The company helps its customers invest in precious metals, focusing on gold and silver. Investors with Patriot Gold Group can invest in these metals in taxable accounts and Individual Retirement Accounts (IRAs). IRAs offer tax benefits to those who use them to save for retirement.

Find out everything you need to know about opening a gold IRA in this Patriot Gold Group review.

In this review:

What does Patriot Gold Group offer?

Patriot Gold Group helps investors buy, sell, and store precious metals for investment and helps people establish precious metals IRAs, commonly referred to as gold IRAs.

Precious metals IRA

Many people want to save for retirement to have a nest egg they can rely on when they stop working. Investing is one of the best ways to make sure that your savings grows over time, so most people invest their retirement funds to help them grow.

A gold IRA is a particular type of account designed to help people save for retirement. With a traditional IRA, you can deduct any money you contribute from your income when you file your taxes. That means that you pay less tax in the years that you contribute. Instead, you pay taxes when you withdraw from the account in retirement when you likely have a lower tax rate.

Patriot Gold Group helps investors open a gold IRA, which lets them invest in precious metals while getting the tax advantages of an IRA. You can work with Patriot Gold Group to contribute cash to your account and buy metals. Patriot Gold Group can also help manage storage and transportation for you.

Silver and gold products

Even if you don’t plan on opening a gold IRA, you can still work with Patriot Gold Group to buy and sell precious metals. The company focuses on gold and silver coins. You can’t invest in other precious metals like platinum and palladium.

The coins available for purchase come from around the world, including the following countries:

  • Austria
  • Canada
  • South Africa
  • United States

One drawback of Patriot Gold Group is that it doesn’t list actual prices for its coins on its website. You can select the amount you want to invest in each type of coin to generate a quote. Still, you’ll need to speak to one of the company’s representatives to learn the pricing for each coin.

How much does Patriot Gold Group cost?

Whenever you’re working with a financial company, whether it’s a bank or an investment firm, you have to think about fees. Companies that help people invest in precious metals are no different. In fact, precious metals investing is more complicated than many other financial services, which adds costs.

Metal is a physical asset. Unlike stocks and bonds, you need to move and store precious metals and keep them safe and secure. That means that investors in precious metals have to pay the costs to store their coins and bars.

We spoke to a representative from the company on March 15, 2021, that outlined the following fee structure:

BalanceYears of waived feesAnnual fee
Under $50,0001$180
$50,000 – $99,9992$180
$100,000+All$0

Customer ratings and reviews

When you’re thinking about opening an account with a new financial company, you want to feel confident that you’re working with a reputable business whose customer service team is there to support its customers. If you’re going to be investing in precious metals like silver and gold, that’s especially true, as you have to trust the company you work with to store your metals.

The precious metals industry is also popular amongst scammers, making it even more important to work with a trustworthy business.

Patriot Gold Group is a well-known metals dealer and has strong customer reviews from many sources. Here are the ratings as of June 12, 2023.

SourceRating
Better Business Bureau (BBB)A+
Trustpilot4.9/5
Google4.8/5

Where does Patriot Gold Group store my precious metals?

One of the most complicated aspects of investing in precious metals is storing your metals. These precious metals are physical assets, so you have to put them somewhere and ensure that they stay safe from damage or theft.

Patriot Gold Group offers a few vault storage options for storing your metals. It works with multiple depositories around the country. If you want, the company can manage the transport and storage of your gold and silver at one of these depositories for a fee.

For taxable accounts, Patriot Gold Group lets investors store their metals at home.

Typically, IRS rules forbid IRA investors from holding precious metals in their self-directed IRA at home. However, Patriot Gold Group offers a complicated strategy that allows investors to store metals in an IRA at their home without violating IRS rules.

In practice, it’s likely best to keep your metals at a depository instead of using the company’s untested method, which also requires that you handle storage and safety.

Can I see how my precious metals IRA is performing?

With any investment, it’s essential to keep track of your portfolio and its performance. This allows you to adjust your portfolio and investing strategy.

The custodian that you are matched with after working through Patriot Gold Group will be responsible for providing you with an online account that you can use to see your portfolio.

The company’s website includes up-to-date pricing information for gold and silver. You can use these charts to inform your investing strategy.

Pros and cons of Patriot Gold Group

Pros

  • No fees for accounts over $100,000

  • Positive customer ratings

  • Free gold IRA investor guide

Cons

  • Platinum and palladium can’t be included in your IRA account

  • Some sections of the website are unclear or incomplete

How to open an account

To open a precious metals IRA with Patriot Gold Group, you start by filling out an application on its website or calling (877) 583-2399. This form asks for your contact information and personal information, such as your Social Security number.

You’ll also have to provide bank account information so the company can draw funds from your account when you make a purchase.

An account representative will reach out to you once you submit this information to help you finish the process of opening your account. If you want to roll an existing retirement account into your new precious metals IRA, Patriot Gold Group’s 401(k) and IRA Rollover department can help with the transfer process.

To make purchases, you’ll call your account representative, who can help you place the order and transport the coins and bars to your storage location of choice.

How can I withdraw from my account?

If you open an IRA, IRS rules place restrictions on when you can start withdrawing money from the account. You cannot take money out of the account until you turn 59½. Any withdrawals before that age incur a 10% penalty in addition to any taxes you owe.

When you’re ready to withdraw money from your self-directed IRA, there are two options.

One is that Patriot Gold Group can help transport the precious metal from your storage location to your home. Once you have the silver or gold coins and bars in your possession, you’re free to do with them as you please.

The other option is that your account representative can help you sell your metals and deposit the cash proceeds to your bank account. This is the more convenient option if you need money to spend.

Where to find Patriot Gold Group alternatives

Patriot Gold Group is just one of many companies that help people invest in precious metals. Before you open a gold IRA account, you should take the time to consider some alternatives. You may find another company that better meets your needs.

If you’re interested in investing in precious metals, such as gold and silver, our guide to the best gold IRA companies is a good place to start.

How we rated Patriot Gold Group

Our rating for Patriot Gold Group was determined by reviewing our partners based on several factors. These factors included BBB rating, Trustpilot rating, annual fees, educational resources, customer support, and collection of precious metal coins and bars.

Once a score was assigned, we then identified where each company stood out amongst its competitors to create our picks for what each company was the best for.

Find out more

Best for limiting fees

  • Annual fee: $0 – $180
  • BBB rating: A+
  • Offers precious metals IRA and silver & gold products