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Bishop Gold Group is a company that's been around for less than five years. But this gold dealership has gained a loyal following and grown quickly, thanks largely to their reputation. Many of their newest clients are referrals. They also have good reviews as a workplace from their past and current employees.
But there's a real question as to whether Bishop Gold Group can match the competition. Do their services set them apart? Here's what we've broken down about everything you should know.
STOP! Before we continue with this review, we want you to know how seriously we take your investment. We know our research and information may sway your investment decision, so we want to make extra sure you are investing with the right company!
With this said, we do have a list of our top 5 companies (we have found that at least 1 of these 5 companies fits what 99% of our visitors are looking for and all have great reputations & customer reviews):
See if Bishop Gold Group made our list this year, or continue with this review below to see if they are possibly the right company for your investment needs.
About Bishop Gold Group
Bishop Gold Group was founded in 2017 and has expanded significantly since then. The company is based in the US and sells investment-grade products to people who want to invest in gold. Rather than selling as many products as possible, they try to make sure that clients are connected to whatever products they need for their portfolio.
The idea is that every client should feel totally secure and confident in the choices that they make. No matter what they do or don't buy from Bishop, they should learn enough to make good gold investment choices in the future. Judging by the positive reviews from past clients, the company does a good job at sticking to these values.
Precious metals have served two main investment purposes, historically. The first is that they help to protect against inflation, since they rise in value as the value of your currency depreciates. The second is that they perform much better when the stock market and global economy are in shambles. So if your other assets are rapidly losing value, your precious metals holdings can carry you through until you weather the storm.
Everybody employed at Bishop Gold Group is a firm believer that precious metals are one of the most important parts of your portfolio. They are a key means of investing stably and protecting yourself. But a diverse portfolio is also important, as other investments will actually earn money and have further potential for growth.
According to the company's policies, every client is part of the overall team. You are the center of the employees' attention. You are the most important thing, because the investments have to work for you.
Some companies talk a big game about these types of values, but they don't actually deliver. Since Bishop Gold Group has such positive reviews, we don't think that that's the case here. They actually are as good as they appear to be.
Gold IRA Services
Bishop Gold Group can help you with opening an IRA by connecting you to a custodian and helping you with the application paperwork. You'll be given a list of the custodians that Bishop typically works with. Some of their most closely partnered companies are Strata Trust and Kingdom Trust, both of which have a great reputation and transparent pricing.
One note is that you'll need to coordinate most of your rollover process with your custodian. There's no guarantee that Bishop will handle this for you. Some of the competing companies do all of the communication with the custodian on your behalf, which is a lot easier. It also helps to ensure that the paperwork is properly filed and the funds transferred within the required 60 day period.
After you work with your custodian to fund your account, you can talk to your Bishop representative about what to buy. They'll be able to make suggestions based on your goals, answer your questions about the products, and tell you about the pricing and availability of different options. After you finalize your order, the metals will be transferred to your chosen storage vault sometime within the next month.
Bishop usually works with Brinks Global Services and Delaware Depository. These are two of the largest depositories in the US, boasting locations all over the United States and even internationally. The Delaware Depository is a huge security vault that has major tax advantages thanks to its home state of Delaware.
No matter which depository you choose, your holdings will be covered by a full insurance policy. That's more than you'll usually get if you try to store your items at home. Besides, IRAs can't be stored at home without incurring the IRS's wrath.
Bishop continues to have a relationship with each customer after they check out. You can contact them to talk about your holdings, ask questions about the economy, and find out what they think the best moves are for your future.
Is Bishop Gold Group a Scam?
Bishop Gold Group isn't a scam. When you go to their BBB page, you'll find that they're accredited with an A+. There haven't even been any complaints filed over the past three years. In the meantime, you'll see a customer rating of 4.77 out of 5 stars based on 22 reviews, which shows that the majority of customers have had good things to say.
The same is true on other third party websites. On Trustpilot, the company has a 4.8 star rating. Consumer Affairs shows similarly glowing reviews from past customers. It's difficult to find any negative feedback about this store at all, which might be partially because of its medium size.
Still, there are no major red flags. Customers often discuss their experiences with their company representatives by name. They say that the employees make it simple to buy coins and that the process was super easy. Several customers went out of their way to note that there was no high pressure sales tactic or unnecessary sales pitch when asking questions.
Some customers say that this is the first time they've ever invested in gold, and they're glad that they worked with Bishop. Others say that they've worked with many companies over the years, but they keep coming back to Bishop because of the unusually high level of integrity and expertise. No matter whether you're a beginner or a seasoned pro, it seems like the company has something for you.
Pros & Cons of Bishop Gold Group
Bishop Gold Group does seem like a solid company in every respect. Even though they haven't been around for long, they've quickly gained a following and a reputation. Many of their customers come from direct referrals. They offer IRA services as well as bullion for cash purchase.
Overall, there are no major red flags with this company. It seems to be well-managed and to have the interests of the customer at heart. In fact, many customers have praised how knowledgeable, patient, and respectful the sales staff are. But the question is whether this company is able to stand up to some of the other top competitors.
The biggest drawback is the streamlining of the IRA process itself. There are some companies that will handle talking to your custodian for you. They'll facilitate the entire rollover process and make sure that your paperwork is filed within the appropriate time period. But with Bishop Gold Group, you mostly need to handle the rollover process on your own.
The rollover process is often the most complex and time-consuming part of opening an IRA, since you have to coordinate between your old custodian and your new one. We recommend working with a company that takes care of this hassle for you instead.