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Like many finance-based industries, the precious metals industry is an important vehicle for investment. Many people buy silver and gold as a way of hedging their retirement against global economic upheaval. Considering the amount of global economic upheaval we've had lately, this makes perfect sense.
But also like many finance-based industries, there are many gold and silver dealers that operate like scammers. Even if their businesses are technically legitimate, they may pressure or confuse people into making purchases. They might use underhanded sales tactics, charge huge commissions, create hidden transaction fees, or misrepresent the value of the purchase.
Many companies like this have made headlines over the past few decades. Unfortunately, they can seem so prevalent that it's hard to find any gold dealer who's honest. That's especially overwhelming when your retirement funds are on the line.
Gold Alliance Capital is a popular precious metals dealer with a robust online catalogue and multiple services. But are their policies actually beneficial for the customer? What do past clients have to say, and what's most important that a customer knows before they make a purchase?
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 Gold Alliance Capital 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 Gold Alliance Capital
Gold Alliance Capital is headquartered right at the heart of the gold industry in the US. While many companies are stationed in urban California, Gold Alliance Capital operates out of Reno in Nevada. The desert has been the source of tons of precious metals, and multiple mining operations continue in the state to this very day.
Gold Alliance Capital is also an older company in terms of IRAs. It has only been legal to keep silver and gold in a retirement account since legislation was passed in 1997. Gold Alliance Capital started operating in 2002, just five years after this. They have more than twenty years of experience establishing themselves in the industry.
In addition to having products available for a retirement account, the company also sells certain rare collectibles. They often have premium coins, limited historical and vintage options, and common bullion. Only some of their products meet the purity and type requirements to be considered for an IRA.
They do have many of the most popular choices of gold and silver to store in an IRA. For example, you'll find gold and silver American Eagles, Maple Leafs, and other important coins from sovereign mints worldwide.
Customer education is strongly encouraged by the employees at Gold Alliance Capital. When you call, you can ask questions and get thorough, informed answers. The employees and representatives are happy to discuss both the benefits and the drawbacks of precious metals with potential customers. They also have tons of educational resources that you can peruse on your own, some of which include:
The idea is that every customer should be absolutely sure that they're making the right purchase for their future. There's no interest in selling people things that they won't use.
Storage and Custodian Options
When investing in a silver or gold IRA, you need to pick a storage depository and custodian. Both of these entities must meet IRS compliance regulations regarding their expertise and security. Your custodian will manage your account, while the depository will keep the items safe. Items inside a depository are insured and frequently audited to make sure the account statements are accurate.
Gold Alliance Capital is not a custodian or a storage depository. But they do work with several of these companies. Through their partnerships, they're able to give you flexible and reasonable pricing options.
The main custodians that the company works with are Goldstar Trust Company, Preferred Trust Company, and Equity Trust Company. All have solid overall reputations, with Equity being a preferred partner by many of the top gold IRA firms in existence.
Equity Trust has been around for over 30 years, and their experts have decades of experience. This company manages $25 billion of customer assets and works with customers all over the US.
Preferred Trust Company is more of a newcomer, having only been around since 2007. But that's still fifteen years in the industry. They have since grown to become one of the nation's biggest custodians of retirement accounts. They are best known for their solid customer service and all-inclusive fee structure.
Goldstar Trust Company is popular because of the emphasis they place on self-directed IRAs. They manage nearly 40,000 self-directed retirement accounts for their clients. Like the others, they work with clients throughout the US and have become one of the most popular choices of gold IRA custodian.
Gold Alliance Capital only has one preferred depository, which might be an issue for people seeking storage in a specific region. There are other companies that have multiple US and international options for storage. But Gold Alliance Capital mostly works with the Delaware Depository.
The Delaware Depository is an excellent company with a great reputation. The depository itself is gigantic, with futuristic security and over 70,000 square feet of storage. Every single vault in the depository is fully insured with Lloyds of London, which is the biggest insurer on the planet.
You have a choice of getting a segregated vault or a non-segregated vault. Segregated vaults cost more. Regardless of what you choose, your vault will be frequently audited and subject to the full insurance policy. So you can get your investment back if there are any issues with the holdings in your vault.
Pricing and Fees
Some of the fees are related to your custodian and depository, while others are related directly to Gold Alliance Capital.
If you use the company's IRA services, you'll pay $50 to set up your account. That acknowledges the time that your representative takes to walk you through your paperwork and help you connect with your custodian.
You'll also pay annual fees for storage. Assuming you use the Delaware Depository, that will be $100 for non-segregated and $150 for segregated options. This amount is paid every year. Getting non-segregated storage can save you significantly on your costs over time.
If you work with Goldstar Trust Company, you'll pay a minimum of $75 each year for the maintenance of your account. This number might go up if you add any other alternative assets to your account, like cryptocurrency or real estate. For Equity Trust Company, the cost will depend on how much you're holding in your account. The minimum usually starts at around $225, but Gold Alliance Capital might have a deal with them to reduce that minimum.
Education and Satisfaction
It's good to see gold companies that place a strict focus on client education. The goal isn't to trick people into making a purchase. Instead, it's to show people why this type of investment is a good idea. The ideal customer is one who believes that precious metals are a vital choice for their financial future.
As mentioned, there are multiple educational tools available. In addition, the company has a blog that updates frequently with thoughts on current events and the precious metals industry. They have multiple in-depth articles that discuss things like diversifying an investment portfolio, using precious metals as a hedge in times of economic crisis, and how precious metals differ from any other traditional asset.
There's a News section where the company reports on news within the market itself. This might include more commentary on current events impacting the global market.
You can download the free investment guide to get more in-depth information about gold, silver, retirement, and Gold Alliance Capital itself. There are also tools like the price charts for silver and gold, which update minute by minute with new information from the global exchanges.
Customer satisfaction is a major focus of the company's policies. They have multiple staff members exclusively dedicated to customer support. Even after people make their purchases, the company continues to work with them for life. You can call to ask for insights on the market or on your portfolio. If you choose to add metals to your portfolio, your representative will be happy to work with you for the long term.
Many of the top gold IRA companies have a buyback program in place. When you decide that you want to make a sale, the company is right there with an offer. That saves you the hassle of trying to quickly find an honest dealer willing to liquidate your holdings for a fair price.
In addition to buying back items that were purchased through Gold Alliance Capital, the company will actually buy back items that you got from other gold dealerships.
According to the company website, the buyback program for past customers is honored with no questions asked. If you bought the metals through Gold Alliance Capital, then you will receive a buyback offer.
There is no guarantee that you will be given an offer if you purchased your metals through a different dealership. In these cases, Gold Alliance Capital asks that they have a chance to look at the metals before they make their offer. They want to be able to determine the condition and authenticity of the items.
Gold Alliance Capital only buys bars and coins. So they're not a good option if you want to sell things like jewelry, watches, scrap metal, bullets, or rounds.
Is Gold Alliance Capital a Scam?
Gold Alliance Capital isn't a scam. As mentioned, the company has operated since 2002. They are very transparent about their history and founder, and you can find information about their headquarters online. There's no question that this is a real company that operates legitimately.
On top of that, they also have a good reputation. Sometimes companies skirt the line of legality, mistreating customers without ever actually going against their policies. But that's not the case here. The vast majority of customers have good things to say.
Take the company's Better Business Bureau page, for example. There are over 170 customer reviews, almost all of which give a perfect 5 out of 5 stars. By comparison, there are only 5 complaints within the last three years, only one of which occurred within this past year alone.
The company also efficiently responds to consumer issues and tries to resolve them. There's an alert on the BBB page that gives people the customer service contact info if they have problems. Judging by how many positive reviews there are, the team seems to be on top of things. Any publicly filed complaints have been responded to, so the company is rated A+ by the BBB itself.
The BBB only gives this rating to companies that make a good faith effort to communicate with their customers and resolve potential problems. The companies must also have a clean legal record and be well established in their fields.
The Business Consumer Alliance is another key organization that monitors the customer interactions of businesses. They give Gold Alliance Capital a rating of AAA, which is the highest mark possible. This rating cannot be achieved unless a company has demonstrated a high level of transparency and ethics. Essentially, the BCA confirms that Gold Alliance Capital operates in a positive and customer-focused way.
There have not been any complaints filed with the BCA. There are similarly positive reviews from past customers on sites like Trustlink, Trustpilot, Consumer Affairs, and Facebook. These are all places that people go to find verified and impartial accounts of other customers' experiences.
Pros & Cons of Gold Alliance Capital
Gold Alliance Capital is a solid business. Not only do they have a lot of transparency about their management and policies, but they have been given great reviews by past customers. There are a few caveats to keep in mind, however.
One caveat is that this company doesn't chiefly focus on gold IRAs. Though they have IRA services, there are other businesses with in-house IRA teams that can offer a quicker and more streamlined experience. For this reason, we recommend one of the competitors when it comes to opening and funding a gold IRA.
Another caveat is the pricing of the company's premium coins. Since there are premium and collectible coins available, the markup is higher than on pure bullion. That's because the coins are rarer, and part of their value is based on speculation. It's theorized that they might be worth even more in the future. But if that doesn't turn out to be true, then you'll only get the melt value when you sell them.
That's a risk that you take when you invest in any numismatics and collectibles. In fact, the risk is significant enough that some investors warn against them. Gold Alliance Capital's prices aren't outrageous, but it's possible that you can find lower offers from competing dealerships. You should check the selling price of any collectible coin against their offer before deciding whether the purchase is a good plan.