With gold prices surpassing $2,400 per ounce, it’s no surprise that people are increasingly interested in gold individual retirement accounts (IRAs). A gold IRA allows you to invest in precious metals inside of a tax-advantaged retirement account, but these IRAs require additional steps to meet federal tax requirements.
Choosing a reputable precious metal broker-dealer and gold IRA provider is key. Allegiance Gold is a full-service precious metals dealer, with a stellar reputation as one of the best gold IRA companies in the industry. In this Allegiance Gold review, learn about the company’s fees, precious metal options, and customer service.
Allegiance Gold
| Account minimums: | $10,000 for gold IRAs |
| Better Business Bureau (BBB) rating: | 4.91/5 |
| Approximate spread on American Eagle Gold 1-ounce coin: | $105 |
Pros
- Excellent customer reviews
- Multiple precious metal options
- Clear fees
Cons
- Accounts cannot be opened online
- $10,000 minimum deposit required
- Limited customer support hours
Allegiance Gold is a good option for those with existing retirement savings who want to roll over their accounts into a gold IRA and who want step-by-step assistance. Allegiance Gold allows customers to open a gold IRA with $10,000, and it provides personalized, one-on-one support throughout the entire process.
Allegiance Gold allows investors to choose from a variety of precious metals, including IRS-approved gold coins and bars. It has a lower-than-average spread on American Eagle Gold coins, with clear and transparent fees.
According to Alex Ebkarian, chief operating officer (COO) and co-founder of Allegiance Gold, Its pricing is one of its standout features.
“We’re committed to offering you the best value,” he said. “If you find a better price elsewhere, we’ll match it, ensuring you get the most out of your investment.”
Allegiance Gold has high scores for customer support, but it offers limited do-it-yourself (DIY) options. For example, you cannot open an account online. You have to call a speak with a customer service representative or submit your information and wait for a portfolio manager to complete the account setup, which may be frustrating for independent investors who want to handle every part of the process digitally.
Allegiance Gold doesn’t offer evening or weekend business hours, so you can’t place orders during those times, so those who want 24/7 service may have to look elsewhere.
Allegiance Gold services
Allegiance Gold provides the following services:
- Gold IRAs: Through Allegiance Gold, you can invest in IRS-approved gold bars and coins in a retirement account.
- Precious metals IRAs: Allegiance Gold also offers precious metals IRAs, allowing you to invest in your retirement by purchasing IRS-approved silver and platinum coins and bars.
- Precious metals dealer: Besides investing in gold or other precious metals within an IRA, Allegiance Gold also allows customers to buy precious metals on their own. Through Allegiance Gold, you can buy gold, silver, and platinum coins and bars and receive the physical product.
How Allegiance Gold fees work
With Allegiance Gold, the following fees apply to gold IRAs:
- Storage fee: $100 for depository storage of up to $100,000 worth of metals
- Account maintenance fee: $95 per year
- Gold spread: When you purchase gold coins or bars, pay attention to the “spread” — the difference between the customer’s purchase price and the selling price of the coins. A higher spread means the company is making a larger profit. Allegiance Gold’s spread on American Eagle coins is lower than the industry average. As of July 31, you can buy a one-ounce Gold American Eagle coin for $2,577.84.
Allegiance Gold’s consumer reviews
Allegiance Gold has excellent reviews from customers. On Trustpilot, it has over 60 reviews, and it has a TrustScore of 4.8 out of five. Customers say the company is responsive, knowledgeable, and helpful. As noted in one review:
“My experience with Allegiance Gold was absolutely amazing. They answered my questions and provided all the information I asked for. I have worked with many gold companies before, and none have made me feel as safe and secure as Allegiance Gold.”
How to open an Allegiance Gold account
To open an Allegiance Gold IRA, follow these steps:
- Fill out the form: You can contact customer service at (844) 790-9191, or you can fill out a simple form online. The form asks for your personal information, email address, phone number, and desired deposit amount. Once you submit those details, a customer service specialist will contact you within 24 hours.
- Choose a depository: Gold IRA metals must be held by an IRS-approved custodian. Your customer support specialist can recommend potential depositories.
- Fund your IRA: The customer service specialist will work with you to open a new account. Once it’s open, you need to find the IRA. You can transfer funds from an existing IRA or make cash contributions. You’ll provide your details to the customer service specialist who will work with the IRS-approved custodian to handle the IRA.
- Place orders: Your specialist will help you choose IRS-approved gold coins or bars, and the coins and bars will be sent directly to the IRS-approved custodian.
“Whether it’s for a direct delivery or through a self-directed IRA, Allegiance Gold typically delivers within five to seven business days after the funds are cleared,” said Ebkarian.
Allegiance Gold alternatives
Allegiance Gold is a leading gold IRA company. How does it measure up to competitors like JM Bullion and Silver Gold Bull?
Allegiance Gold has a higher investment minimum than those companies, and it’s been in business for less time. However, it has better customer reviews than JM Bullion and Silver Gold Bull, with a higher rating on both Trustpilot and the BBB.
The takeaway
If you want to open a gold IRA, choosing a reputable and reliable precious metals dealer is pivotal. As noted in this Allegiance Gold review, the company is a trusted provider of gold IRAs, with transparent fees and excellent customer service ratings. It could be a good option if you want personalized assistance opening and managing your gold IRA.