In the realm of investments, reliability is essential. Investors looking to protect their wealth and diversify their portfolios need a trustworthy partner.
Gold Alliance, a premier gold IRA provider and precious metals dealer based in Reno, Nevada, asserts that it offers transparency, customer satisfaction, and a wide array of investment options.
This review explores Gold Alliance’s services and evaluates its credibility as a financial partner. With nearly two decades of experience, the dealer has established a strong presence in the industry.
We will investigate whether its claims are substantiated and if it is a dependable choice for investors navigating the intricacies of precious metals investment.
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What is Gold Alliance?
Gold Alliance is a gold IRA provider and precious metals dealer based in Reno, Nevada, with nearly two decades of experience since its inception in 2002.
They allow customers to choose from several IRA custodians, including Equity Trust, GoldStar Trust, and Preferred Trust.
The company offers a wide selection of products, featuring IRA-eligible gold and silver as well as non-IRA collectible coins. Popular products include the Gold American Eagle, Silver American Eagle, Platinum Canadian Maple Leaf, and Platinum British Britannia.
The company’s dedication to 100% customer satisfaction and transparency has helped it carve out a unique niche in the industry. Gold Alliance’s leadership team consists of highly experienced professionals and numerous reviews highlight the company’s excellent customer service.
Moreover, the company provides various free resources to help consumers better understand IRAs. The company enjoys an A+ rating from the Better Business Bureau (BBB), a testament to its reputable standing.
Warning For Gold IRA Investors!
Several gold IRA companies have recently been exposed as scams. It is strongly advised that serious gold IRA investors read this detailed guide on Gold IRA scams.
Who are the People Behind Gold Alliance?
In this section of the Gold Alliance review, we’ll take a closer look at the key individuals driving the company:
Joseph Sherman (CEO / Partner)
Joseph Sherman serves as the CEO of Gold Alliance. He is a member of the National Ethics Association (NEA) and the Industry Council for Tangible Assets (ICTA). Sherman holds a law degree with honours from the University of Tel Aviv.
He writes extensively on economics, personal finance, and government fiscal policy. His background is marked by perseverance, with his father working as a baker who started his day at 4 AM, as noted in his biography on the Gold Alliance website.
Kevin Troy (Senior Portfolio Manager / Partner)
Kevin Troy is the Senior Portfolio Manager at Gold Alliance. His career began at JP Morgan Chase before transitioning into real estate lending. In that sector, he became a partner at one of the largest mortgage brokerages in San Diego.
Troy holds a marketing degree with honors from San Diego State University and has over 15 years of experience in helping clients build robust portfolios.
Fred Abadi (Senior Portfolio Manager / Partner)
Fred Abadi graduated from California State University, Northridge with a degree in Business Management. He previously worked at Global VR, where he increased the firm’s revenue by 40% through enhanced customer service strategies.
Abadi also boasts over 15 years of industry experience, focusing on delivering quality service and ensuring clients have diversified portfolios.
Gold Alliance Products
Gold Alliance offers a wide variety of precious metal products, including a diverse range of coins and bars. As an IRA provider, they provide numerous options for investment, including bullion, uncirculated, and proof coins.
They offer various IRA-approved gold and silver coins and bars. Some of their most popular coins include the Silver American Eagle, Gold American Eagle, and Gold Australian Striped Marlin.
In addition to IRA-eligible products, Gold Alliance features many collectible and limited mintage coins. Here’s a detailed overview of their offerings:
Gold Products
Gold Alliance provides over 50 different gold products, including coins and bars. Some notable offerings include:
Gold 9/11 Never Forget ⅛ oz 2021 Coin**: The world’s first ⅛ oz gold coin, commissioned by the Royal Dutch Mint, features a firefighter and his canine companion on the obverse side. This limited-mintage coin is highly sought after.
Gold Sceptre Guinea ¼ oz**: Minted by the East India Company Mint, this coin is an official legal tender of St. Helena and is guaranteed for quality by the British Government.
For collectors, the dealer offers:
- Gold American Eagle Proof 1 oz
- Gold Indian 0.5 oz
- Gold Saint Gaudens Double Eagle 1 oz
IRA-Approved Gold Coins:
Gold Alliance offers 15 IRA-eligible gold products, including:
- American Eagle Gold Coin
- 9/11 Never Forget Memorial Gold Coin
- Canadian Polar Bear Gold Coin
- Australian Striped Marlin Gold Coin
- Canadian White Falcon Gold Coin
In addition to coins, the company provides gold bars in 1 oz and 10 oz weights.
Silver Products
For those looking to diversify, Gold Alliance offers 20 different silver products. Some popular options are:
- Silver Kennedy Half Dollar
- Silver Walking Liberty Half Dollar
- Silver Sceptre Guinea 1.25 oz
IRA-Approved Silver Coins:
Gold Alliance has 12 IRA-eligible silver products, including:
- Spotted Eagle Ray Silver Coin
- Canadian White Falcon Silver Coin
- Helena Sovereign Silver Coin
- Canadian Polar Bear and Cub Silver Coin
They also offer silver bars in 10 oz and 100 oz weights.
IRA-Approved Platinum Coins:
Gold Alliance provides three IRA-approved platinum products:
- Platinum British Britannia Coin
- Platinum Canadian Maple Leaf Coin
- Platinum Bar (1 oz)
Gold Alliance’s extensive selection of precious metals ensures that investors have ample opportunities to diversify and secure their portfolios.
How to Invest with Gold Alliance
Investing with Gold Alliance is a straightforward process. Here’s a step-by-step guide:
Step #1: Contact Gold Alliance
Begin by reaching out to the company to inquire about opening an account. A representative will provide you with an application form to fill out.
Once completed, you’ll need to mail the application back to them using the prepaid FedEx envelope they provide. Upon receiving your application, Gold Alliance typically activates the account within 24 hours.
Step #2: Fund Your IRA
After your account is active, your Gold Alliance representative will guide you through funding your IRA. If you have an existing 401(k), the company offers assistance in rolling over your savings into your gold IRA account.
This process typically takes around 5 business days.
Step #3: Choose Your Investments
Once your account is funded, you’ll work with your Gold Alliance representative to select your preferred gold and precious metals investments.
They’ll help you choose products based on your financial goals and needs. After purchasing the chosen investments, the dealer will store them in an IRA-approved storage facility.
Gold Alliance provides regular updates on your gold IRA portfolio’s value through quarterly reports. Additionally, you can access your account information online at any time for monitoring purposes.
If you prefer not to store the precious metals in Gold Alliance’s recommended storage facility, you can request to have them shipped to another facility or your home. However, it’s advisable to consult a financial expert before making such a decision.
By following these steps, you can easily initiate your investment journey with Gold Alliance and begin building your precious metals portfolio.
Gold Alliance Fees & Charges
Gold Alliance charges a $50 fee for setting up an IRA account. The annual maintenance fee varies depending on the chosen custodian. For instance, GoldStar Trust Company has a minimum annual maintenance fee of $75, while Equity Trust Company’s minimum annual maintenance fee is $225.
For storage, Gold Alliance fees are $150 for segregated accounts and $100 for non-segregated accounts. On average, the annual cost of investing with this precious metals dealer is $180 per year, which is considerably lower than the industry standard. It’s important to note that precious metal prices fluctuate daily, so your costs will vary accordingly.
The dealer adds a 33% markup on its product prices, which might be a deterrent for some investors. However, the lower annual fees help balance this out. Additionally, the company is transparent about its fees, ensuring there are no hidden charges.
Fee Summary:
- Initial Setup Fee: $50
- Annual Maintenance Fee: Variable (depends on the custodian)
- Storage Fee: $150 for segregated storage and $100 for non-segregated storage
What Gold Alliance’s Clients Say
Before investing with any gold IRA provider, it’s wise to check their reviews. In researching Gold Alliance, I found numerous consumer reviews that paint a very positive picture of the company.
Overall, the company enjoys high ratings on various third-party review platforms, reflecting their commitment to customer satisfaction. Here’s a detailed overview of Gold Alliance reviews:
Better Business Bureau (BBB):
Gold Alliance has an A+ rating on the BBB and a 4.96 out of 5-star rating based on over 170 customer reviews. Such a high rating suggests that the company prioritizes its customers’ experiences.
Reviews on the Gold Alliance BBB page particularly praise the company’s customer service. For instance, Glenda, a customer, mentioned that although she had previously invested in precious metals and felt apprehensive about starting again, the staff at Gold Alliance were fantastic.
They answered her questions and guided her through the process, making her feel comfortable with her new investments. Glenda now recommends the IRA provider to others.
Business-Consumer Alliance (BCA):
On the BCA platform, Gold Alliance has 13 reviews, all giving the company 5 out of 5 stars, resulting in a stellar AAA rating.
Customer reviews on this platform also highlight the company’s excellent customer service. For example, Jimmy praised the helpfulness of Gold Alliance’s staff. They sent him all the necessary paperwork and called to explain it before he signed.
Additionally, they walked him through different precious metals and recommended suitable products for his portfolio. Jimmy was pleased with how professionally the staff handled everything.
Customer Reviews:
Despite being in the IRA industry since 2002, Gold Alliance has relatively few online reviews, which is surprising given their 20 years in business.
Apart from the BBB page, there are not many Gold Alliance reviews available, which might be a point of concern for some potential investors.
Is Gold Alliance Legitimate?
Pros:
1. Large Product Selection
2. Positive BBB Reviews
3. Low Fees
4. Multiple IRA-Eligible Custodians
5. Privacy Maintenance
6. Free Educational Resources
Cons:
1. Lack of Transparency
2. Limited Online Presence
Based on the numerous positive Gold Alliance reviews found online, it can be concluded that the company is indeed legitimate
With two decades of industry experience, the company has earned a reputation for providing quality customer service. Their extensive selection of free educational resources caters to new investors, and the accessibility of their senior portfolio management team adds to their appeal.
However, potential investors should be aware of the company’s pricing transparency issues and limited online presence.
Overall, Gold Alliance is a suitable option for novice and casual investors, offering a diverse range of products and flexible investment options.
