Noble Gold Review
Investing in traditional stock options is a great idea considering the immense benefits that come with it. But the market is becoming increasingly volatile. The volatility and high inflation rates have created the need for an investment option to hedge against these effects.
This is where precious metal IRAs come in. These companies offer investors a chance to diversify their portfolio by investing in physical and reliable precious metals.
Noble Gold is one such precious metals IRA company. This article is a complete review of the platform. We look at how they function to see if they meet the requirements of a good IRA company.
But First, A Brief History Of Noble Gold
In 2016, Collin Plume, Charles Thorngren, and their over twenty years of experience trading in the precious metals market came together to create Noble Gold.
The company is located in Pasadena, California, and serves as a gold IRA company and a full-service dealer.
Collin and Charles had a single goal while creating the platform: to create a space where clients could trade and invest in precious metals easily and securely. From all indications, they have managed to achieve that. They provide their customers with personable and excellent customer service. They inform their clients and the general populace about the benefits of diversifying in precious metals, especially in such a volatile economy.
They are transparent about their dealings, making them a dream for most investors. To further ensure that their clients have a seamless transition into the precious metals IRA industry, Noble Gold offers a slew of necessary services all in one place.
They have all the necessary professional contracts making them an indispensable unit for both old and new investors.
Who Are The Founders And CEO's Of Noble Gold
A great way to measure the reliability of a precious metal IRA company is to take a look at the founding figures. Charles and Collin are a force to reckon with in the investment and finance world.
Noble Gold’s CEO, Charles Thorngren, had dealt on precious metals and financial investments over 20 years before the company was born. His first foray into investment was through the more traditional stocks and bonds option. After making his mark, he turned down an offer from a Fortune 50 finance company and decided to focus on self-directed precious metals IRAs.
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Collin Plume has an equally fascinating resume. He counsels clients on how to make investment decisions that will lead to long-term wealth creation. Before Noble Gold, Collin was into commercial real estate, property insurance, and precious metals. He managed to garner a portfolio that screamed competence in insurance, finance, and economics.
His in-depth knowledge of the precious metals industry works, places him as one of the best precious metal brokers in the United States. He uses this knowledge to help investors get through financial crises.
These two investment gurus are behind the success of Noble Gold. They have built a successful team and created one of the country’s leading precious metal IRA companies.
Noble Gold Services
In its bid to ensure excellent customer service, Noble Gold has curated many services for personal and retirement planning investing. However, their most popular option is the precious metals IRA services.
They offer varying gold and silver options. They also offer IRA services on other precious metals like palladium, platinum, and more.
If you’d rather not risk an IRA, you can purchase your precious metals from Noble Gold services and store them however you want.
Let’s take a more detailed look at some of Noble Gold’s services…
This is the service that Noble Gold is best known for. You can create a gold IRA on Noble Gold, where you can deposit physical gold.
Noble Gold isn’t the only investment platform offering gold IRA services, but they come with a few benefits that stand them apart from the rest.
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- For one, the platform offers access to a secure Texas storage facility. This storage facility is under the International Depository Service and is approved by the IRS.
- Investing with Noble Gold means all the Gold you purchase is IRS qualified. Some of the options available are the Canadian Gold Maple Leaf and the American Gold Eagle.
- And if you decide to liquidate, Noble Gold will buy back your precious metals.
Although not as popular as gold, silver is increasingly becoming a popular investment option due to its application in different fields and limited supply. It is not surprising that many IRA companies, including Noble Gold, have the option to invest in silver.
Noble Gold’s silver IRA option is very similar to the gold IRA. Investors get access to an approved Texas storage facility. They also get access to IRS-qualified silver options and will benefit from the buyback program if they decide to liquidate.
Some of the IRS-approved options you can get under this IRA include Canadian Silver Maple Leaf and the American Silver Eagle.
Many people want their precious metals at home, where they can see them and easily access them when necessary. Other people might want to invest in precious metals traditionally without having to fund an IRA.
Whatever the case, Noble Gold has created the Noble Express program for people like this. This program will discreetly ship a Royal Survival pack to your home address. This process is confidential, so you don’t need to worry about your identity or purchase leaking.
Of course, Royal Survival Packs are not the same as IRA investments. Your IRA investments can’t be stored in your home. However, the gold coins in the Royal Survival Packs are easy to liquidate if there is an emergency.
Something unique about Noble Gold is that they are the only Gold IRA company with storage facilities in Texas. This is another step by the company to ensure the safety of your precious metals.
Typically, most IRA companies store their clients’ precious metals in New York and Delaware. Noble Gold has a storage depository in Delaware too.
But Noble Gold took advantage of Texas’s consumer protection and state rights by storing clients’ precious metals in the state’s IRS-approved facilities.
This, combined with their partnership with IDS, means you can rest assured knowing your precious metals are safe.
Noble Gold’s Policies And Fees
Noble Gold is a customer-centric platform. To them, the clients come first, so they have created policies meant to boost clients’ assets while cutting costs.
The company will cover all first-year fees and setup costs for all precious metals IRA accounts. With their fast shipping, your precious metals will be in one of their secure and certified depositories in five days.
Each long-term IRA asset is recorded, and all IRAs are provided a lifetime service at no extra cost.
Noble Gold’s policies are designed to ensure unmatched customer satisfaction. The team is always ready to provide users with personal assistance, including all necessary help with paperwork.
Fees and Minimum Investment
The fees you pay and your minimum investment depends on the type of transaction.
- For Precious Metals IRA transactions, clients must pay a flat annual fee of $225 and make a minimum investment of $2000.
- For Non-IRA transactions, clients do not pay an annual fee; however, they can only make minimum investments above $5000.
Most people find it difficult to invest in precious metals because they are difficult to liquidate. Noble Gold has a Buyback option that makes liquidating your precious metals seamless.
With their transparent pricing, you can be assured that you are getting the right value for your precious metals.
If you sell your precious metals back to Noble Gold, they will buy them back and have the funds securely in your account within 24 business hours.
Benefits of investing with Noble Gold
Investing with Noble Gold offers many benefits. Here are some of our top benefits:
1) Gold Serves As A Hedge Against Inflating Markets
The economy is becoming increasingly volatile, and many investment portfolios are at risk of devaluation. Investing with Noble Gold gives you the necessary hedge to keep your assets safe in a market where traditional investment options fluctuate.
2) Professional Management Services
Regardless of the precious metal you are investing in, Noble Gold will provide you with the same professional management services.
From the moment you contact them for the first time, a professional will be available to provide all the necessary information and help you understand the details of precious metals IRA and how to go about investing.
Their management skill will ensure you tap fully into a precious metals IRA’s potential to grow your portfolio.
3) A Range Of Coins And Bullion
An outstanding feature of Noble Gold is its selection of coins and bullion. With an extensive range that includes features like the American Gold Eagle and the Australian Gold Kangaroo, Noble Gold has provided clients with an exceptional range to choose from.
They also offer some rare coins, and if you are interested, you can add Palladium coins to your portfolio.
Bullions are also available if that is what you’d prefer. With this wide selection of metals, Noble Gold has made it easier to diversify your portfolio.
Noble Gold is conscious about the security of your assets, which is why they have partnered with the International Depository Services to ensure your physical gold is securely stored according to IRS-approved standards.
The company has gotten insurance from Lloyd’s of London as extra protection. This ensures that your assets will be protected in the case of damage or loss.
5) The Lowest Fees In The Industry
With a flat fee of $225, Noble Gold is one of the most affordable precious metal IRA companies. The implication is it’s easier to start investing in precious metals and reaping the long-term benefits of your insurance plan.
6) The Incentives Of Investing In Physical Gold
Investing in precious metals offers several incentives that traditional investment options won’t.
It is a great choice for investors looking for long-term investment options because it retains its value over time.
Creating an IRA with Noble Gold also gives you rights to IRS’s tax-free rollover feature. This feature lets you transfer funds from other qualified IRA accounts into your precious metal IRA and vice versa.
And when you purchase Gold through Noble Gold, they help you claim taxable income deductions, so you get the best value for money.
Drawbacks of investing with Noble Gold
A review will not be complete if we do not include the drawbacks we noticed while checking out this platform. Here are a few areas we think the platform could do better:
1) No internal storage
The company does not have depositories outside the country. Clients outside the country have to trust that their investments are safe within the country. However, with the lengths the platform has gone to ensure the safety of clients’ assets, this should not pose a problem.
2) You Need An IRA Specialist TO Complete Setup
This is not an issue if one considers how easy it is to complete the setup with the help of an expert. However, some people feel it would be better if the setup were less complicated.
3) Setting Up Your Noble Gold Account
Noble Gold has made signing up to use their services easy. It takes minimal time and can be done from anywhere. You can create an account as you commute to work.
To make it easier, Noble Gold puts professionals at your beck and call so you can successfully create an account and start diversifying your retirement plans.
To start, you must fill out the form they have on their website. They will contact you via email or phone to complete the setup process.
When you are done, you will get access to your account and dashboard, from where you can monitor your assets in real time.
Final thoughts: Should I invest with Noble Gold?
Precious metals are great for hedging against inflation and volatility. If you have decided to invest in a precious metal IRA, Noble Gold is a great way to go. Their excellent customer service, buyback program, and low fees make them a great choice.
However, before you invest in a Gold IRA, talk to your financial adviser to weigh your options before proceeding.
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Frequently Asked Questions (FAQ)
A Gold IRA is an example of a Self-Directed IRA. Self-Directed IRA’s were designed to give individuals more freedom in the selection of investments that they could hold in their retirement account. A Gold IRA is unique to precious metals, where the investor/individual has the ability to hold gold, silver, and other precious metals such a platinum and palladium in their account rather than being limited to traditional stocks and bonds.
By holding precious metal investments in a Gold IRA, this gives the ability for individuals to make their portfolio more diverse and prepare themselves for future financial success. Having a diversified portfolio makes for a better chance to survive a stock market crash and still have some of your funds held in other categories, such as gold.
There are various options when it comes to investing in gold. One option is to purchase gold coins or bars from a local retail shop or gold investment company. You may then hold the metals until you are satisfied with their growth, ready for retirement, or need them for another expense.
Another option to invest in gold is by setting up a Gold IRA. These are a form of a Self-Directed IRA, only your funds can be held in gold rather than stocks and bonds. This is a good way to invest in precious metals without worrying as much about taxes.
The value of a gold coin increases as the value of spot gold increases. The number that is printed on each gold coin (known as the face-value) is not an accurate reflection of its true valuation. In fact, its value is likely much higher than the face-value based on the current price of gold today.
Depending on your age, current financial position, and personal preferences, the answer to this question will vary per person. If you are coming up on retirement, you’ll want to take fewer investment risks and may not want a large portion of your money in gold. If you’re still young and have more time to take greater investment risks, you may want a larger percentage of your portfolio invested into gold.
Like many investments, it is optimal to buy at a low value. Generally speaking, when the stock market is over-performing, the value of gold is at a much lower amount. Gold also follows some trends such as a decrease in certain months of the year, including January, March, and April.
It is always a good idea to seek out a financial advisor to help discuss the best options for your current situation. This way you can shift your investments based on what makes the most sense for your financial goals, and the current economy.
Your current plan may not give you the option to invest in gold, but there are numerous other plans that allow gold investments. Keep in mind that there are specific rules set out by the IRS regarding how gold can be bought and stored. Because of these rules, it’s important to find a reputable company to work with.
You are legally allowed to do a 401(k) rollover and avoid paying taxes and penalties, but to do this you must follow the correct process. Start by contacting your current 401(k) plan and explain your situation. The rollover may take several weeks or months to complete, so it’s best to begin as soon as possible.
Traditional 401(k) plans and IRA’s are tax-deferred savings accounts, meaning you do not need to pay any taxes on your contributions. Once you retire and eventually withdraw your funds, you will pay taxes on those withdrawals. You will not get any tax breaks if you purchase gold for personal ownership. Right now, the only way to avoid paying taxes on gold is by purchasing it through your 401(k) plan or IRA.
Although this process is a bit tricky, you absolutely can purchase physical gold in your 401(k) plan. Since your IRA cannot be the seller and holder of the gold, they will need to store the physical gold with a third party. You are also not personally allowed to hold the gold. You may only keep gold and silver in a plan of this type if someone else is storing it, according to the IRS. While you will not be allowed to have physical control over the gold, you may still be allowed to access the storage facility.
Yes, any gains made on the gold held in a Gold IRA are subject to capital gains taxes. Additionally, if you take a distribution from the Gold IRA before you reach the age of 59 and a half, you may be subject to income taxes and a 10% early withdrawal penalty. Things may differ depending on whether you have a traditional IRA or Roth IRA.
No. You are not allowed to take physical possession of the gold or other precious metals held in an IRA account.
No. Home storage is not allowed and could have serious tax implications if you are found to be taking physical possession of the gold held in your IRA. You must store the gold with an IRS-approved custodian. Any company that promotes home storage is not providing sound advice and should be avoided.
No. The IRS does not allow precious metals to be stored in a safe deposit box. The custodian/depository must always maintain possession of the gold.
This is a tricky question.
Mostly, no. For most folks, it’s impossible to take physical possession of their gold without paying severe fees.
There is however a workaround for very (VERY) few individuals.
A “Checkbook IRA” allows the IRA owner to have more control over their investments. They can use an LLC to make investment decisions and hold assets on behalf of the IRA. The LLC is owned by the IRA and managed by the IRA owner or someone else. The assets, including precious metals, can be stored in a place chosen by the LLC, like a storage facility or the IRA owner’s home as long as it’s secure and insured. Though, the IRS has strict rules for using a Checkbook IRA and storing IRA-owned assets.
Some of these rules include:
- A minimum net worth of $250,000.
- Must have a corporate legal counsel.
- Ownership must be shared among multiple individuals.
- And much more
Keep in mind that this loophole is not recommended. There is a possibility that you will be penalized and even possibly disallowed from future investments. It’s not worth the risk, even if you do meet all these requirements.
Remember that your specific situation and goals should always be discussed with your tax advisor.