The United States Gold Bureau (USGB) is a leading precious metals supplier. The company offers gold, silver, platinum, and palladium to be purchased directly or included in retirement accounts such as IRAs. Customers can also sell precious metals to the USGB.
Below, we discuss USGB’s products, fees, customer experience, and how they compare to other precious metals dealers.
Overview of the U.S. Gold Bureau
USGB stands out for its retirement planning services. Its professionals work with clients to evaluate retirement accounts and devise a diversified portfolio of precious metals featuring an asset allocation designed to adhere to risk tolerance and investment goals.
The company helps clients rollover existing traditional, Roth, and SIMPLE IRAs into self-directed precious metals IRAs. However, customers with 401(k) or other employer-sponsored retirement accounts generally cannot roll over funds into a precious metals IRA if they are currently employed by the company offering the plan.
USGB does not act as a custodian for retirement accounts or a storage facility for precious metals. It works with third-party custodians that manage your retirement accounts and IRS-approved custodians that store your precious metals.
The IRS-approved preferred custodian is Equity Trust. USGB also has a relationship with the Texas Bullion Depository, the only state-backed precious metals repository in the United States. Both USGB and Texas Bullion Depository are owned by Lone Star Tangible Assets.
Overall, USGB may be suitable for investors who require professional guidance when developing a retirement strategy regarding precious metals.
U.S. Gold Bureau Snapshot
U.S. Gold Bureau Products and Services
USGB offers gold, silver, platinum, and palladium bars, coins, and investment grade coins.
You can also purchase precious metals directly and have them delivered to your home. However, precious metals stored within an IRA must meet IRS purity requirements and be stored in a qualified vault. Purity requirements are listed below.
- gold: 99.5%
- silver: 99.9%
- platinum: 99.95%
- palladium: 99.95%
How do I sell gold to the US Gold Bureau?
To sell gold with the U.S. Gold Bureau, contact the company by phone or through its website for a quote. A representative will evaluate the items you’re selling and provide instructions for safely shipping your metal. After the item is received, inspected, and approved, USGB will complete the sale and issue payment. According to the USGB, payment is typically available within 72 hours after the item is sold.
The company also offers to buy back metals originally purchased through USGB. The company also offers a buyback guarantee, which allows it to buy back precious metals originally purchased from the U.S. Gold Bureau or facilitate the sale of those metals on your behalf.
How the US Gold Bureau Process Works
To open a precious metals IRA, customers first speak with a USGB specialist in the Retirement Services Department and fill out an application. That individual will evaluate your retirement account, investment goals, risk tolerance, time horizon, and more to devise a diversified precious metals portfolio. Our experts can also recommend account types and help you transfer your retirement assets from checking accounts to your new precious metals IRA.
A typical USGB client experience looks like this:
- Complete the counseling and fill out the application. A USGB specialist will discuss your investment goals and help you complete your application and account setup.
- Fund your account. Transfer funds from an existing retirement account, such as a traditional IRA, to a new precious metals IRA.
- Select metal. Choose IRS-approved precious metals with guidance from USGB experts.
- Organize your storage. The metal is stored in an IRS-approved facility such as the Texas Bullion Depository.
U.S. Gold Bureau Fees and Pricing Considerations
Like many precious metal suppliers, USGB cannot sell bullion or coins at spot prices or fluctuating market prices for particular precious metals. Most suppliers sell precious metals at a price higher than the spot price.
The USGB website states that premiums over spot prices typically range from 2% to 15%, depending on factors such as weight, metal type, and rarity.
According to USGB experts, the minimum investment required by the company to establish a precious metals IRA is $30,000, and the USGB currently covers the setup costs. However, you can also pay fees to the custodian who manages your retirement account and the facility where your precious metals are stored. Storage fees range from $200 to $250.
It’s worth noting that the company does not list all account fees online and recommends potential customers discuss IRA fees directly with a USGB specialist over the phone.
US Gold Bureau Reputation and Customer Experience
USGB maintains an A+ rating from the Better Business Bureau (BBB). However, customer reviews posted on BBB’s website are not considered in determining ratings. Overall, these reviews are a mix of positive reviews praising USGB’s customer service and negative reviews complaining about frequent marketing calls.
On Trustpilot, the company has a rating of 4.7 out of 5. Most of the reviews here are positive, with many users claiming that USGB staff are helpful and knowledgeable. However, negative reviews mentioned defective packaging and aggressive sales tactics.
Advantages and disadvantages of US Gold Bureau
Weigh these tradeoffs before committing to USGB.
Strong Points
- Dedicated support from account specialists
- Offering a variety of products
- Huge library of educational resources
Cons
- The pricing structure is not very transparent on the USGB website.
- Shipping to other countries is not guaranteed.
- International customers must pay by bank transfer.
Comparison of US Gold Bureau and competitors
Precious metal suppliers typically specialize in providing precious metals for direct purchase or inclusion in retirement accounts such as IRAs.
Typically, pricing structures and levels of customer support may vary. In this regard, USGB aims to create personalized investment strategies regarding precious metals on behalf of each client. It also stands out for its extensive free educational materials and customer support.
conclusion
The National Gold Bureau can be a strong choice for investors who want practical guidance on adding precious metals to their retirement strategy. The company offers access to all four major investment-grade precious metals, IRA rollover assistance, personalized portfolio recommendations, as well as extensive educational resources for new investors.
That said, many prices are not published online, so potential customers should be prepared to talk to a representative to get a complete picture of pricing and ongoing account costs. Comparing premiums, storage fees, and storage costs with other precious metals dealers will help ensure you get the best fit for your investment goals.
US Gold Bureau Frequently Asked Questions
Does the U.S. Gold Bureau offer Gold IRAs?
The U.S. Gold Bureau helps customers open self-directed precious metals IRAs and rollover qualified retirement accounts, including traditional IRAs, Roth IRAs, and SIMPLE IRAs. The company works with third-party custodians and IRS-approved custodians to manage and store IRA assets.
What is the minimum investment amount for a US Gold IRA?
The U.S. Gold Bureau requires a minimum investment of $30,000 to open a precious metals IRA. There is no minimum amount required for customers purchasing precious metals outside of an IRA.
Does the U.S. Gold Bureau charge storage fees?
Precious metals held in an IRA must be stored in an IRS-approved vault, and there is usually an annual storage fee. According to the USGB, storage and maintenance fees generally range from $200 to $250 per year, but the exact costs vary by custodian and storage provider.
Can I store U.S. Gold Bureau IRA metals at home?
No, IRS rules generally require that precious metals held within a self-directed IRA be kept in an approved storage facility rather than at your home. However, customers who purchase metals outside of their IRA can have eligible products shipped directly to their home.
Is United States Gold Bureau a legitimate company?
U.S. Gold Bureau has been in business for over 20 years and maintains an A+ rating with the Better Business Bureau. It also has strong customer ratings on Trustpilot, with many reviewers praising the company’s knowledgeable staff, although some customers have reported concerns about its sales tactics and marketing calls.
