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Precious metals are a great way to diversify and protect your assets from economic downturns and the ravages of inflation.
If you’ve been considering opening a gold IRA and came across Patriot Gold Group, it’s natural to wonder if it’s a reputable company.
Can you can trust them with your hard-earned retirement savings?
That’s where we come in.
Although Patriot appears to be a solid organization at first glance, we’re going to dig deeper and see if there’s anything for you to worry about.
So, in this review, we’ll cover the following:
- Is Patriot Gold Group legit?
- Their management team, values, and products
- The process and costs
- Patriot Gold Group complaints and ratings
- Lots more
Without further ado, let’s get started.
The Company Background
Founded in March 2016 and headquartered in Los Angeles, PGG specializes in helping customers diversify with precious metals with a safe and straightforward approach.
They have won the Top Rated Gold & Silver Dealer Nationwide award by Consumer Affairs for an impressive five consecutive years – 2016 through 2020.
They also received 5-star ratings on Consumer Affairs the following years.
The executive team has held upper-level senior management roles at some of the largest retail and wholesale precious metals firms.
They created Patriot when they recognized several fundamental flaws in the industry – lack of client satisfaction, education, retention, and customer service.
With over 50 combined years of experience in the market, they are committed to ensuring that customers are comfortable taking their wealth preservation and retirement into their own hands and have the necessary tools to do it.
As part of this process, they eliminated multiple executive and shareholder compensation levels to offer precious metals at highly competitive prices.
As patriots serving patriots, PGG stands behind the following commitments to every customer they serve:
- You’ll work directly with an owner
- No fees for the life of your account on qualifying IRAs
- Fast 24-hour account setup
Who Owns Patriot Gold?
You may wonder, who is the CEO of Patriot Gold Group?
Formed as a private partnership, Jack Hanney acts as CEO, Co-Owner, and Senior Partner.
He has over 20 years of market experience and is considered an expert in the industry.
Liz Lane is the Director of Operations, while Mike Celano and Charley Chartoff are the two senior partners.
Patriot Gold and Silver Products
Gold and Silver
The company’s main offerings are gold and silver coins.
They provide direct-investor pricing with no added markups or commissions to ensure they can provide the most competitive prices in the industry.
They work with mints worldwide – US, Canada, Austria, United Kingdom, South Africa, and Australia – to offer the highest quality products eligible for IRA accounts.
Their coin selection by mint is as follows:
Royal Mint in South Wales
The largest and most technically advanced mint in the world that produces over 3.3 billion coins for over 30 countries.
Gold and Silver Options:
- Atlantic Alliance Exclusive
From one of its four locations, the US Mint produces some of the most popular coins in the world.
- American Eagle
- American Buffalo
- Liberty Double Eagle Set
- American Eagle Proof Set
- US Buffalo Proof
- Buffalo Rounds
- Silver Kennedy Half Dollar 1964
- American Eagle
- Morgan Silver Dollar
- American the Beautiful Set
- Silver Franklin Half Dollar
- Silver Walking Liberty Half Dollar
Royal Canadian Mint
With a rich history dating to 1908, it is recognized as one of the top mints in the world.
- Maple Leaf
- Polar Bear and Cub
- Arctic Fox
- Polar Bear and Cub
- Maple Leaf
- Polar Bear
- Arctic Fox
The Vienna Mint traces its history back to 1194 AD when it received payment for Richard the Lionhearted’s freedom from Duke Leopold V of Austria.
- Gold Philharmonic
South African Mint
Originally part of the Royal Mint during the British Colonial era, the South African Mint is now wholly owned by the South African Reserve Bank.
- Gold Krugerrand
Perth Mint in Australia
The Perth Mint holds the distinction of having produced the world’s purest gold in 1957.
- Gold and silver Australian Spotted Eagle Ray
- Silver Australian Striped Marlin Silver
Though you can view products online, you need to speak directly with a representative for quotes.
Besides coins, they also offer a 10-ounce silver bar.
Though they don’t list platinum or palladium products on their website, a customer service rep informed us they could obtain these products for interested investors.
Precious Metals IRA
Patriot Gold Group is dedicated to helping customers diversify their IRAs with precious metals.
They state that they have over 50 years of combined experience assisting average investors with their retirement accounts.
This team make it easy to start the process.
Also, since you work directly with an owner, you can feel confident that you’re in reliable hands.
Their quick turn-around time to open an account is between 24-48 hours, one of the fastest in the industry.
Another bonus is that you get no fees for the life of your account for qualified purchases.
They have relationships with two of the top self-directed IRA custodians, STRATA Trust and Equity Trust, but will work with any approved trustee.
Their preferred storage facility is Delaware Depository.
This state-of-the-art facility serves as the primary depository for commodity exchanges, banks, and IRA trustees.
In addition, all assets are protected by a $1 billion all-risk insurance policy provided by Lloyds of London.
Patriot Gold Group Fees
When looking at this type of investments, it’s important to consider gold IRA fees and costs.
Unlike stocks or bonds, physical metals need to be stored and secured. Plus, you will need to work directly with a trustee that specializes in the IRS-required documentation.
To cover these services, PGG charges a first-year fee of $250. After that, annual fees run $200.
However, if you rollover $100,000 from your IRA, 403B and 401K, you’ll qualify for their “no-fees for life” program.
With this no fee for life precious-metals-backed IRA, they’ll cover both your custodian, storage and insurance costs for the life of your account.
What Is The Minimum Investment For Patriot Gold?
Their minimum investment to open an IRA is $25,000, or $10,000 for non-IRA cash purchases.
If you invest a minimum of $100,000, they will waive all custodian and storage fees for the life of your account.
And if you make an investment of $250,000 or more, you qualify for their platinum level.
Not only will they waive all fees, but they will also cover all the shipping costs to and from your storage facility.
How To Open An IRA With PGG?
Opening an account is quick and easy and comes down to the following 3 steps.
1) First, fill out the online application.
This form will ask for your contact and personal information, including your social security number.
Or, if you feel more comfortable, you can speak directly with your representative.
2) Next, your representative will reach out once the information is submitted to the trustee and help you finish any required paperwork.
Once opened, PGG’s 401(k) and IRA Rollover department can help with the transfer process from an existing retirement plan or IRA account.
Funding times will depend on how quickly your current plan transfers your money.
3) Now that you’re funded, you can select your precious metals.
Your account representative will help you choose from their high-quality products and then confirm your order.
Trades are completed within 48 hours of receiving funds from your trustee and will be shipped directly to your selected storage facility.
Any time you wish, you can make arrangements to visit the vault to see your precious metals in person.
Investor Education Offered
Addressing the lack of quality educational resources from other precious metals dealers, PGG is committed to providing the tools necessary so customers can feel comfortable managing their retirement and protecting their wealth with precious metals.
From the Knowledge Center on their website, you can access short videos by Dick Morris and CEO Jack Hanney discussing the benefits of investing in precious metals.
You can also access links to articles provided by other financial websites covering a wide range of relevant topics.
They also provide free updated precious metals quotes and charts comparing gold and silver prices to the US dollar.
And their online calculator makes it easy to calculate your required minimum distribution or RMD when it comes time to make withdrawals.
Free Investor Kit
You can request their free Gold and Silver Investor Guide from the website.
It will show you the simple, three-step process to opening a precious metals IRA and answer common questions.
Customer satisfaction is a top goal for this company, and they make it easy to get the information you’re looking for.
They offer an online chat featuring a live person who will happily answer any questions. We were able to get most of our questions answered in just minutes using this option.
Or, if you prefer, you can speak with a representative by phone.
Representatives are available Monday through Thursday from 7 am – 5 pm PST or 7 am to 3 pm on Fridays.
You can also email their support department, and they will get back to you the next business day.
Customer Reviews and Complaints
This company has prioritized outstanding customer service, and it shows in the reviews.
In fact, we couldn’t find a single negative review or complaint across multiple third-party review sites.
The Better Business Bureau shows a five-star rating based on one review and zero complaints.
Though they have only been a member since April 2022, they maintain an A+ rating.
On the Business Consumer Alliance website, they have a perfect 5-star rating based on 17 reviews and zero complaints.
They have been a member since 2016 and have an AA rating.
And with TrustPilot, they have a 4.9 average rating based on 110 reviews.
But don’t just take our word for it.
Instead, listen to what others have to say about working with them:
I wanted to invest in precious metals IRA, but the only challenge was that I didn’t know a thing about it. Thankfully, someone recommended Patriot Gold Group, and they helped me end to end. Fast process, amazing services, and professionals you can trust for their expertise.
Or these two:
Patriot was helpful, straightforward, and honest and made me comfortable with moving my money into hard assets.
Creating a precious metals IRA was a smooth and easy experience. Everyone I worked with was helpful, knowledgeable, and provided excellent assistance. I highly recommend Patriot Gold.
Patriot Gold Group: Pros And Cons
So why consider Patriot?
Let’s take a look at the pros and cons.
Reasons to Consider:
- You work directly with an owner
- Waives all the fees for accounts over $100,000
- Excellent Patriot Gold reviews and ratings by clients
- Free investor kit and online Knowledge Center
Reasons to Avoid:
- No online pricing
- Less-extensive product offerings
- The $25,000 account minimum may be too high for smaller investors
Is Patriot Gold Group Legit? The Verdict
Selecting a precious metals IRA company you can trust can be a challenge. And it’s crucial to do your homework.
That’s why we took the time to do this in-depth analysis so you can decide if they’re the right company for you.
So, is Patriot Gold Group legit or scam?
No, it’s not a scam. After reviewing this business, we feel confident that PGG is a legitimate company with nothing to hide.
Considering its excellent reviews and commitment to outstanding customer service, we see no reason you shouldn’t trust Patriot Gold with your precious metals IRA.
Whether you work with their preferred trustees or one of your choosing, they will provide the necessary assistance to save you time and money.
And though their gold and silver selection is less extensive than other companies, it will be high-quality products that meet the strict requirements imposed by the IRS to be included in an IRA.
Though Augusta Precious Metals continues to be our #1 recommendation, Patriot Gold would make a good alternative.
Now, we’d like to hear from YOU:
- Have you ever dealt with this business?
- Do you agree with this Patriot Gold Group review and its legitimacy, or do you have a different opinion/experience?
Let us know your thoughts in the comments section below!