Gold Alliance Review

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Gold Alliance is a precious metals and gold dealer that assists clients when it comes to investments in metals in retirement tax-sheltered accounts.

A precious metal or gold IRA (Individual Retirement Account) is one of the best long-term investment strategies.

Gold Alliance is a company that can also assist you when it comes to buying precious metals or gold inside of your retirement account.

Before we get started with this review:

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What Is A Gold IRA?

Gold Alliance is a precious metal dealer that offers precious metals that are IRS approved so that they can be used in Gold IRAs. The list of approved metals includes platinum, palladium, silver, and gold in bars, coins, or bullion.

Gold Alliance charges clients an "account fee" to set up their Gold IRAs, followed by rolling over their client's funds into a new account from a 401(k) or their savings. The client is then able to purchase precious metals such as gold after the IRA has been funded.

Gold Alliance will then store its client's investments securely at a facility known as the Delaware Depository based in Wilmington, Delaware.

gold alliance homepage

How To Purchase a Gold IRA from Gold Alliance

A Gold IRA can be set up with Gold Alliance in 3 easy steps:

  • Contact Gold Alliance

The first step involves making contact with one of the Gold Alliance Representatives to set up an account. The company will provide an application that shouldn't take longer than 10 minutes to fill out.

You will then be required to mail the application to them in the prepaid FedEx envelope that the company provides. Once received, it usually takes a day (24 hours) to activate your account.

  • Fund The Account

Your Gold Alliance representative will then assist you in rolling over your saving from a 401(K) account or any other assets of your choosing to fund the Gold IRA. This will usually take around 5 business days.

  • Choose Your Investment

As soon as the account has been funded, you can now choose the type of precious metal asset that you would like to purchase with the assistance of your representative. You can buy your precious metals through a wire transfer or cash.   

Once you have successfully paid for your precious metals or gold, Gold Alliance will help you to store your assets (free of charge) at a facility that is IRS-approved, which is a Depository in Wilmington Delaware.

It is important to note that the IRS won't allow you to store precious metals if they form a part of your IRA. 

You will receive a quarterly report on the value of your portfolio, and you can check online for the information on your account whenever you want. You can also buy precious metals where you can choose to ship them to another storage facility or directly to your door. 

If you ever want to sell your investment of precious metal coins or bars, Gold Alliance provides a guarantee that they will buy them back. This means appraising the asset and then making an offer. You can then decide to either reject or accept the offer.

They are also open to appraising precious metals that you have bought elsewhere.  

If you ever find yourself in a situation where you are needing a distribution from the account, there is the option of having the physical precious metals shipped directly to your door or liquidating to receive the value of the precious metals in the form of a check.

The IRS also requires that you withdraw a percentage of your gold IRA distribution when you reach the age of 70-½.

Smart Reasons to Buy Gold

two gold and one silver coins

Precious metal values have consistently inversely correlated to both the supply and value of the currency that is paper-based. Silver and gold prices have risen during the inflationary periods and this is also when the dollar has lost its value.

Since the Federal Reserve has continued increasing the supply of money, households have more cash to spend which increases prices and demand which results in inflation.   

This makes the overall purchasing power related to the dollar much weaker. If you have invested a portion of your savings or wealth into precious metals, this provides you with more security since the Fed is unable to debase precious metals or print gold.

Over many years, the gold value has outpaced inflation, which means with a precious metal such as gold, you can scale your purchasing power, which could turn out to be the complete opposite when you compare it to the "purchasing power" in most of the dollar-denominated assets and the dollar itself.

Gold Alliance: Reputation

The BBB has awarded Gold Alliance with an A+ rating, and consumers that have assessed this company have provided a rating of 4.6 out of 5 stars.

On Trustlink, customers that have reviewed Gold Alliance have awarded the company with 5 stars. 

Gold Alliance: Options

There are many purchase options to choose from with Gold Alliance. The catalog of the company includes coins and bullion made from silver, platinum, and gold.

You have the choice to open a self-directed, rollover IRA when you buy IRS-approved products through this company, where your assets will be stored safely in an IRS-approved depository.

You can also choose to buy precious metals and then hold them or store them yourself. However, a self-holding Gold Alliance product is not subject to the same tax benefits linked to storing precious metals in your IRA. 

Transparency, Promotional Offers, and Fees

An IRA set-up fee won't be charged by Gold Alliance, which is what sets this firm apart when you compare them to some of its competitors. When opening an account that qualifies, you could receive a maximum of $5,000 (in free coins).

Gold Alliance also offers a no-questions-asked buyback policy. This means that if you ever decide to liquidate all or a percentage of your assets in your IRA, Gold Alliance will provide a fair offer to buy your assets according to market prices.

This is a type of policy that reduces risks for consumers. 

Gold Alliance is also professional and helpful when it comes to covering most of the concerns that clients may have before they open one of the precious metals IRAs.

The privacy policy is transparent and they also offer their clients an option to opt out of any marketing communications. This is something that makes Gold Alliance stand out.

Many companies in this sector earn money off selling people's contact information or subjecting potential customers to unwanted and unnecessary marketing messages.

Educational Resources and Customer Service

Gold Alliance provides a better online experience when compared to some of the other companies that we have conducted reviews on. They publish a very small blog, yet it is mainly promotional.

Gold Alliance also offers current market-price charts on precious metals and provides a useful interactive-charting tool that allows visitors to the website to check on the performance levels of precious metals over time.

Similar to any other company that we have conducted reviews on in this sector, Gold Alliance has also published many free guides when it comes to investing in precious metals.

To access these guides, you will be required to enter your contact information, which means you cannot download the guide from the website.

At this stage, a Gold Alliance sales representative will call you to ask you what you are interested in, which will allow the company to send you accurate information. 

Once again, this company has provided a simple opt-out marketing option. This can be very useful when you are still looking for an investment company to deal with and you prefer not to be inundated with sales calls and emails from each company you are trying to find out about.

Buyback Program

Gold Alliance offers what is known as the Buyback Option, which includes bars and coins that you may have purchased from another company.

Gold Alliance make it very clear that they honor the buyback policy that they offer without asking any questions when it comes to buying all and any precious metal products that you bought from them.

If you have purchased precious metals from another company, Gold Alliance will first need to inspect these products before they will be willing to make you an offer. The buyback program that Gold Alliance offer will only include bars and coins. 

Storing Your Precious Metals

If you prefer to avoid worrying about or stressing about storing precious metals in your home, you have the option to keep your investment safe through third-party facilities through either a precious metal depository or a bank. 

  • Banks

If you decide to use a bank to store precious metals they will either be stored in a bank vault or a safety-deposit box. This will depend on your budget or desired levels of privacy.

The drawbacks of choosing a bank to store your precious metals include limited accessibility and high fees.

For example, you would only be able to access your assets during the opening hours of the bank, and during emergencies or financial crises, banks generally close their doors.

There are also concerns relating to theft, but you could take out insurance that would cover damage and theft.

  • Precious Metals Depository

Gold Alliance suggests that you rather use a reliable and reputable precious metal depository to protect and store your assets. These facilities provide the space you will need in a climate-and-moisture controlled environment to make sure your assets remain under optimal condition.

These facilities are highly and professionally guarded which provides increased levels of security. Some of the security features typically include recording and monitoring every activity along with the restricted entry.

Many of these facilities provide the option of communal or segregated storage. Segregated storage involves storing your assets in a private, individual storage compartment. Communal storage will mean that you are sharing the area of storage with other individuals.

Both these options provide high levels of security.  

These depositories also provide additional protection. Accounting and auditing services will periodically verify and record the contents of every storage compartment which helps to prevent theft or loss.

The insurance policy that accompanies these depositories covers anything that goes missing, while many of the policies also cover damage and theft that has occurred after your assets have reached the depository.

When considering all the advantages that a precious metals depository can provide, Gold Alliance encourages all its clients strongly to use these methods of storage when it comes to precious metals when they need a safe place to store such valuables.

PROS

  • Buy-Back guarantee
  • A+ rating with the BBB
  • Lifetime client support
  • Some decent reviews on Google

CONS

  • The prices of precious metals are not featured on their site
  • You cannot buy precious metals online

Frequently Asked Questions

How Do I Purchase Precious Metals For Direct Delivery?  

You will first need to provide funds into your account through a wire transfer or check. Once funded, a Sr, Portfolio Manager will contact you to cover all the available options to ensure you are buying assets that match up to your goals.

Your precious metals will then be delivered to your door discreetly by Gold Alliance. The package is fully insured and will require your signature. 

What Should I Be Buying?  

Silver and gold come in many different forms and types, which is why you must understand the vital differences between each category to make sure you are acquiring the correct assets for what you need.

The Sr. Portfolio Manager assigned to you will offer accurate information on the different assets so that you can make an informed choice when it comes to your goals. 

How Much Precious Metals Should I be Buying?  

The precious metal amount is totally up to what you can afford. Making informed decisions on what you can afford to purchase can assist you in diversifying your savings.

How Long Should I Hold My Precious Metals? 

You can hold your assets for as little or as long as you like. But you should find out when to sell and when to buy.

Is Gold Alliance A Scam?

This business is not a scam. This company allows individuals to buy precious metals outside and inside an IRA.

If you decide to go for a self-directed IRA with Gold Alliance Capital they can assist you in streamlining the process, which speeds up the process of opening one of these accounts.

However, there are a couple of potential drawbacks that you may encounter if you decide to work with this firm.

The markup on precious metal prices is among the largest drawbacks. The storage costs that the company charges help to keep the maintenance annual fees lower when compared to competitors, but there is a mark-up on the metals that they sell. The prices are anything from 17% to 33% higher when compared to market prices. 

It may be a better option to choose a firm that earns money from the fees that they charge while still selling precious metals at a fair market price.

Conclusion

Gold Alliance, in general, is highly driven by an objective to offer outstanding customer service. It offers clients the choice between three IRA custodians, which include GoldStar Trust Company, Preferred Trust Company, and Equity Trust Company.

At the same time, the well-known Delaware Depository offers highly secure and safe vault options for storage. 

Gold Alliance is not the worst option for novice investors when it comes to Precious Metals IRAs. They provide a range of IRA-approved bars and coins and they offer many resources to help their clients to remain informed when it comes to precious metal investments and how to add these to eligible retirement accounts.

As we already stated Gold Alliance is not a scam, but they are not the best option for cash purchases of gold and definitely not the best option for investors looking to protect their savings with a gold IRA, like other companies we have researched on this website.

You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:

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