Priority Gold Review 2024: Fees, Complaints, Products, IRA, and More

Finding a reliable gold IRA company can seem overwhelming.

As the popularity of alternative investments has grown recently, many people have started looking into gold IRA providers.

One of them is Priority Gold.

In my following Priority Gold review, I’ll help you figure out if they are worth your money or not.

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Priority Gold: Unique Highlights Overview

Below is a table covering the overall offerings of this company:

What is Priority Gold?

Priority Gold is an American precious metals trader that was created in 2001 and has built a solid reputation over time. It provides gold, silver, and a precious metals individual retirement account (IRA). Opening an IRA is a simple process, and Priority Gold’s trained team will help you every step of the way. It also provides a variety of useful web tools, such as a blog, lexicon, and guidelines.

Priority Gold has decades of experience as a precious metals dealer and has an A+ rating with the Better Business Bureau. It also holds a AAA rating from the Business Consumer Alliance. The company is based in Dallas, Texas, and is affiliated with the Texas Rangers Major League Baseball (MLB) team.

It sells a variety of gold and silver items and can help you open a precious metals IRA in just a few clicks. It’s also simple to convert your regular investments into precious metals.

Priority Gold offers free shipping, insurance, and reputable custodial services to protect your investments. It has knowledgeable and pleasant professionals who can assist you in developing a portfolio that is tailored to your requirements.

Who are the People Behind Priority Gold?

Priority Gold’s organizational structure reflects a lean, specialized approach typical of mid-sized precious metals dealers. The company is led by a core management team that oversees operations and client relations, supported by a cadre of precious metals specialists and customer service representatives.

Executive Leadership

At the helm of Priority Gold’s operations is Mike Anderson, serving as the Director of Operations. His role likely encompasses strategic decision-making, overseeing day-to-day functions, and ensuring the company maintains its competitive edge in the precious metals market.

Account Management

Lindsey Banghart, in her capacity as Jr Account Executive, presumably plays a crucial role in client relationship management and potentially in new business development. This position typically involves direct interaction with clients, understanding their investment goals, and tailoring solutions to meet their needs.

Operational Team

The company’s workforce of approximately 38-39 employees suggests a streamlined operational model. This structure allows for agility in responding to market fluctuations and client demands, which is essential in the volatile precious metals sector.

Specialized Roles

Priority Gold emphasizes the expertise of its team, particularly its certified metals specialists. These individuals are likely responsible for:

1. Market analysis and product recommendations
2. Client education on precious metals investment strategies
3. Assisting with IRA setups and rollovers
4. Providing insights on market trends and economic factors affecting precious metals

Customer Service Infrastructure

The company maintains a dedicated customer service team available during extended business hours. This commitment to accessibility is a key differentiator in the competitive precious metals market, where trust and reliability are paramount.

Organizational Culture

While specific details about the company culture are not provided, the emphasis on customer service and education suggests a client-centric approach. This aligns with industry best practices for firms dealing in high-value, trust-based financial products.

In conclusion, Priority Gold’s organizational structure appears designed to maximize efficiency while maintaining a high level of expertise and customer service. The lean team composition, coupled with specialized roles, positions the company to respond nimbly to market conditions and client needs in the dynamic precious metals investment landscape.

Does Priority Gold Offer IRA Services?

Yes, Priority Gold helps consumers in opening gold IRAs.

Priority Gold has established strategic partnerships for custody and storage services, essential components of their precious metals IRA offerings and secure storage solutions. These partnerships are crucial for ensuring compliance with IRS regulations and providing clients with peace of mind regarding the safekeeping of their assets.

Custodian Partnership

Priority Gold has formed a strategic alliance with Preferred Trust Company for custody services related to precious metals IRAs. This partnership is integral to their IRA offerings for several reasons:

1. Regulatory Compliance: Preferred Trust Company, as a qualified custodian, ensures that all IRA transactions and holdings adhere to IRS regulations.
2. Administrative Efficiency: The custodian manages the administrative aspects of the IRA, including record-keeping, reporting, and facilitating transactions.
3. Fee Structure: The partnership allows for a transparent fee structure, with an initial setup fee of $50 and an annual fee of $125 for IRA accounts.

Storage Solutions

While specific storage partners are not explicitly named in the provided information, Priority Gold’s storage arrangements can be inferred to align with industry standards:

1. IRA Storage: For IRA-held metals, Priority Gold likely utilizes IRS-approved, secure depository facilities. The annual storage fees ranging from $100 to $175 suggest partnerships with established, high-security storage providers.
2. Non-IRA Storage Options: For personal investments, Priority Gold offers flexibility:

• Direct shipping to the client for personal storage
• Bank safety deposit box storage
• Secure storage depository options

Client Incentives

Priority Gold has implemented a client-friendly policy to enhance the value proposition of their services:

• For IRA rollovers of $50,000 or more, the company covers the first year of storage fees ($100 to $175) and administration fees.

This incentive demonstrates Priority Gold’s commitment to reducing initial barriers for substantial investments and fostering long-term client relationships.

Professional Assessment

The partnership with Preferred Trust Company and the structured approach to storage solutions indicate that Priority Gold has developed a robust infrastructure for managing client assets. This setup aligns with industry best practices, providing a balance of security, compliance, and client flexibility. The absence of specific names for storage facilities is not uncommon in the industry, as companies often maintain discretion about their security arrangements.

Priority Gold’s approach to custody and storage reflects a professional, client-centric model that addresses the key concerns of precious metals investors: security, compliance, and accessibility. This comprehensive strategy positions them competitively in the precious metals IRA and investment market.

Steps to Open a Gold IRA

1. Choose a Reputable Gold IRA Company

Select a well-established, IRS-approved custodian specializing in precious metals IRAs. Research their reputation, fees, and customer service quality. Top-rated companies like Goldco or Augusta Precious Metals are often recommended.

2. Open a Self-Directed IRA Account

Contact your chosen custodian to initiate the account opening process. You’ll need to:

• Complete an application form
• Provide necessary identification documents
• Choose between a Traditional or Roth IRA structure

3. Fund Your Account

There are three primary methods to fund your gold IRA:

• Transfer: Move funds directly from an existing IRA to your new gold IRA
• Rollover: Withdraw funds from an existing retirement account and deposit them into your gold IRA within 60 days
• Cash Contribution: Make a direct contribution, subject to annual IRS limits

4. Select Your Precious Metals

Work with your custodian to choose IRS-approved precious metals for your IRA. These typically include:

• Gold coins or bars (minimum 99.5% purity)
• Silver coins or bars (minimum 99.9% purity)
• Platinum or palladium (minimum 99.95% purity)

5. Purchase and Transfer to Depository

Once you’ve selected your metals:

• Your custodian will facilitate the purchase
• The metals will be transferred to an IRS-approved depository for secure storage

6. Maintain and Monitor Your Account

• Review your account statements regularly
• Stay informed about precious metals market trends
• Consult with your custodian regarding any necessary rebalancing or additional purchases

7. Plan for Distributions

Understand the rules for taking distributions from your gold IRA:

• You can start taking penalty-free distributions at age 59½
• Required Minimum Distributions (RMDs) begin at age 72 for Traditional IRAs

By following these steps and working closely with a reputable custodian, you can successfully establish and manage a gold IRA as part of your retirement strategy.

What Products Can You Purchase at Priority Gold?

I found their product catalog to be quite intriguing.

Another company with a similar catalog is Anthem Gold Group.

Priority Gold offers a comprehensive range of precious metals products tailored to meet diverse investment needs. Their product lineup includes:

Gold Products

• Gold Coins: Priority Gold provides a variety of gold coins, including American Gold Eagles, Canadian Gold Maple Leafs, and other internationally recognized sovereign coins. These coins are popular among investors due to their purity, liquidity, and government backing.
• Gold Bars: The company offers gold bars in various weights, typically ranging from 1 oz to larger sizes. These bars are produced by reputable refiners and are ideal for investors looking to acquire larger quantities of gold at lower premiums.
• Certified Graded Gold Coins: For numismatic enthusiasts and collectors, Priority Gold stocks certified graded gold coins, which have been evaluated and authenticated by professional grading services.

Silver Products

• Silver Coins: Similar to gold, Priority Gold offers a range of silver coins, including American Silver Eagles, Canadian Silver Maple Leafs, and other popular sovereign issues.
• Silver Bars: Investors can purchase silver bars in various weights, providing a cost-effective way to accumulate larger quantities of silver.

IRA-Approved Precious Metals

Priority Gold specializes in providing metals that meet IRS requirements for inclusion in Precious Metals IRAs:

• Gold products with a minimum fineness of 99.5% purity
• Silver products with a minimum fineness of 99.9% purity

These IRA-eligible products allow investors to diversify their retirement portfolios with physical precious metals.

Buyback Program

In addition to selling precious metals, Priority Gold offers a buyback program with multiple options for liquidating investments, including:

• Sale on the open market
• Consignment
• Immediate liquidation with a guaranteed unconditional and zero-fee buyback option

This comprehensive product range, coupled with their educational resources and customer-centric approach, positions Priority Gold as a full-service precious metals dealer catering to both novice and experienced investors. Their focus on IRA-approved products also makes them a suitable choice for those looking to diversify their retirement savings with precious metals.

KEYWORD Fees and Pricing:

What Do Priority Gold Reviews Say?

Priority Gold has established a commendable reputation in the precious metals industry, as evidenced by its consistently high ratings across various authoritative review platforms. This performance underscores the company’s commitment to customer satisfaction, ethical business practices, and industry compliance.

Ratings Overview

1. Better Business Bureau (BBB):
   Priority Gold has secured an A+ rating from the BBB, which is the highest possible grade. This rating reflects the company’s commitment to resolving customer issues, maintaining transparency, and adhering to ethical business practices.
2. Business Consumer Alliance (BCA):
   The AAA rating from the BCA further reinforces Priority Gold’s standing in the industry. This top-tier rating indicates a history of satisfactory complaint resolution and ethical business operations.
3. TrustLink:
   With a perfect 5-star rating on TrustLink, Priority Gold demonstrates strong customer satisfaction. TrustLink is known for its verified customer reviews, lending credibility to this impressive score.
4. Aggregate Rating:
   An overall 4.7-star rating (platform unspecified) positions Priority Gold among the top-rated precious metal dealers, indicating consistent performance across multiple review sources.

Industry Recognition

• The Good Standing Award from the Industrial Council for Tangible Assets (ICTA) signifies Priority Gold’s adherence to industry best practices and regulatory compliance.
• The 2019 Best of Sherman Oaks Award highlights the company’s local reputation and community standing.

Analysis

These ratings and accolades collectively paint a picture of a company that:

1. Prioritizes customer satisfaction and dispute resolution
2. Maintains high ethical standards in its business operations
3. Complies with industry regulations and best practices
4. Has established a strong reputation both locally and within the broader precious metals market

It’s worth noting that while specific ratings for platforms like Trustpilot and Google are not provided in the search results, the consistent high performance across other reputable platforms suggests a likely positive presence on these sites as well.

The absence of significant negative feedback or low ratings from major review platforms is particularly noteworthy in an industry where trust and reliability are paramount.

In conclusion, Priority Gold’s ratings profile indicates a well-established, customer-focused operation that has successfully built and maintained a strong reputation in the competitive precious metals market. This performance likely contributes significantly to customer trust and the company’s market position.

Examples of Priority Gold Reviews:

1. “Priority Gold represents the pinnacle of professionalism in the gold investment sector. Their team of professionals is not only informed, but also really helpful. I approached them with a little understanding of gold investments, but they took the time to educate me and provide helpful advise targeted to my circumstances. Throughout the process, their honesty was clear, instilling trust in each transaction. Furthermore, their commitment to customer service distinguishes them; they go above and beyond to ensure customer happiness. Without hesitation, I entrust my gold deposits to Priority Gold, knowing that they are in trustworthy hands.” – A customer praising them on Trustpilot
2. “I recently worked with Priority Gold to meet my gold investment needs, and I must say that their service exceeded my expectations. From the beginning, they were honest and transparent, gently leading me through the procedure. Their skilled team gave vital insights, allowing me to make informed judgments. What impressed me the most was their devotion to customer service; they were always helpful and attentive to my questions. I definitely suggest Priority Gold to anyone looking for a dependable and trustworthy gold dealer.”- James on Trustpilot
3. “Highly recommended! Priority Gold exceeded my expectations in all areas. From their affordable prices to the superb quality of their items, they have won my trust as a premier precious metal dealer. Their customer service is exceptional, with timely communication and helpful instruction at all times. I love their straightforward attitude and will definitely be a returning customer!” – A 5-star review on Priority Gold

Source: Trustpilot

Can You Trust Priority Gold? Is Priority Gold Legit?

Yes.

Priority Gold is a legitimate gold IRA company with a proven track record. However, if you’re ever confused about the reliability of any gold dealer follow these tips:

Tip #1: Check Their Regulatory Compliance and Accreditation

Check for proper licensing and registration with relevant financial regulatory bodies such as the Securities and Exchange Commission (SEC) or Financial Industry Regulatory Authority (FINRA).

Verify the company’s accreditation with industry organizations like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).

It will help you check how credible they are.

Tip #2: Look into The Company’s Background

1. Research the company’s history, including years in business and any name changes.
2. Examine the Better Business Bureau (BBB) rating and accreditation status.
3. Review customer feedback on reputable third-party review sites like Trustpilot or Consumer Affairs.

Tip #3: Does the Company Offer Good Resources?

1. Assess the clarity of information provided about fees, storage options, and buyback policies.
2. Evaluate the quality and depth of educational resources offered to investors.
3. Verify that the company provides clear information about IRS regulations regarding precious metals IRAs.

Tip #4: What are Their Product Offerings and Pricing?

1. Ensure the company offers IRS-approved precious metals for IRA investments.
2. Compare pricing with other reputable dealers to ensure competitiveness.
3. Be wary of companies pushing numismatic or collectible coins over bullion for IRA investments.

Tip #5: Confirm the Storage and Custodian Partnerships

Verify that the company works with IRS-approved custodians and secure storage facilities. According to IRS’ regulations, you cannot store your gold IRA’s precious metals at your home.

You’ll need a certified third-party storage provider.

Check the company’s storage and custodian partner to ensure you’re working with a reliable firm. Moreover, ensure they offer segregated storage options for your precious metals.

Segregated storage means your owned precious metals products will be stored separately from other investors’ possessions. Similarly, non-segregated storage means your products will be stored along with others.

Keep in mind that storage providers charge extra for segregated storage.

Some popular custodians include Equity Trust and Goldstar Trust.

Red Flags to Watch For in Gold IRA Companies

1. Promises of guaranteed returns or claims of “secret” investment strategies.
2. Pressure to act immediately or make large investments without proper consideration.
3. Lack of physical address or unclear company ownership structure.
4. Unwillingness to provide detailed information about fees or policies in writing.

By thoroughly evaluating these aspects, investors can make an informed decision about the legitimacy and reliability of a gold IRA company. It’s crucial to conduct due diligence and, if necessary, consult with a financial advisor before making any investment decisions.

Priority Gold Review Summary:

Overall, Priority Gold seems to be a good option for precious metals investors. However, I recommend checking out the market before proceeding. There are many gold IRA providers available.,

Moreover, always consult with a financial advisor.

What are your thoughts on this Priority Gold review? Let me know in the comments!

Priority Gold Review 2024: Fees, Complaints, Products, IRA, and More

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