Scott R. Hillford
Author & Founder Gold Is Money 2
Disclaimer: Some or all of the companies reported here may provide compensation to us, at no cost to our readers. This is how we keep our reporting free for readers. Compensation and detailed analysis are what determines how companies appear on this website.
Today's investors are smart, but many still need to understand how advantageous precious metals are and how much they increase their investment portfolio.
The many benefits of investing in precious metals start with diversification, including steady value increases, inflation protection, and safer choices for retirement. Investors who purchase stocks and bonds alone don't always get the significant return they need.
In addition, these investments are risky, and account owners could lose money due to market changes and financial crises beyond their control. Investors avoid these complications and improve their prospects if they invest in precious metals.
Prior reading further, it is important to acknowledge that investing your savings is a not easy. When it comes to incorporating precious metals into your investment portfolio, how can you tell which companies are reliable?
After devoting extensive time and effort, we have conducted thorough research within the precious metals industry and compiled a selection of the most trustworthy companies.
Take a moment to read our list and determine if American Hartford Gold has what it takes to make the list this year!
This lets you to effortlessly compare the leading companies in this field and select the one that aligns with your specific requirements and investment objectives.
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As they venture into precious metals investments, these investors must find a credible seller. Reviewing what American Hartford Gold offers helps these investors determine if the company is the best choice for their investment needs.
Who Is American Hartford Gold?
The company has Consumer Affairs and Better Business Bureau accreditation, and celebrities like former NY mayor Rudy Giuliani and Bill O'Reilly recommend the company to investors. In addition, there are many positive customer reviews for American Hartford Gold on Google and Trustpilot.
Start a Precious Metals IRA
American Hartford Gold provides gold IRAs for investors to offer a secure option for funding their golden years. To get started, hire an IRS-approved custodian to create your documentation and open your IRA account.
Next, choose a depository for your precious metals, as you cannot store them anywhere else since they are assets within an IRA account.
Inform your custodian how you want to fund your new self-directed gold IRA. Then, you can use your money on hand or transfer or roll over money from an existing IRA account. Eligible accounts include traditional IRAs, ROTH IRAs, Thrift Savings Plans (TSP), employer-matched 401(k) plans, 403(b) plans, and 457 accounts.
If you decide to transfer or roll over IRA funds, your custodian contacts your IRA provider to initiate the transfer. Under most circumstances, they complete the transfers in a few business days, but the custodian's client load could affect the time it takes.
Be aware that there is a 60-day deadline for transferring the money from the existing account to the new self-directed gold IRA. If your custodian misses this deadline, you face tax penalties, must pay these fees to the IRS, and consequently lose part of your investment.
After the funds are available to your custodian, they contact you to set up your precious metals purchase. American Hartford Gold provides a price quote according to what precious metals you want, the quantity, and the current market price for each metal type.
You must disclose any contributions you've made in the current year to any IRA accounts. In addition, you must stay within the total annual contribution limits according to IRS guidelines.
Once your funds transfer from your custodian to American Hartford Gold, the gold company sets up your shipment. Then, they ship the precious metals to your preferred depository according to your custodian's instructions. Upon arrival, the depository contacts your custodian and locks your precious metals in a secure vault.
American Hartford Gold has depository recommendations for investors. They partnered with Delaware Depository, Brinks Global Services, and International Depository Services. While the gold seller prefers these depositories, the company doesn't impose depository restrictions on their clients. As a result, you can use any IRS-approved depository to store your precious metals for your IRA account.
Annual IRA Contributions
According to IRS guidelines, you can contribute up to $6,000 if you are under 59 and up to $7,000 if you are at least 60. If you plan to contribute to any other IRA accounts, you must deduct these amounts from any new gold IRA contributions. There aren't any restrictions on precious metals you purchase without IRA funds or that you aren't adding to the new gold IRA account.
Your custodian arranges any new precious metals purchases and completes documentation for these changes whenever you want to add more metals to the IRA account. The same rules apply to future contributions as the precious metals ship to the depository directly.
Calculating IRA-Related Fees
American Hartford Gold helps with calculating IRA-related fees. Whenever you are ready to set up a new self-directed gold IRA, American Hartford Gold offers custodians and depositories who could help you instead of hiring these service providers yourself.
If you call them first, they provide a detailed price list for setting up the new account, IRA transfer documents, maintenance fees, and storage costs. However, you are not obligated to use their preferred service providers.
If you hire your custodian and set up depository services outside American Hartford Gold's recommendations, it is wise to get estimates before you start. You'll pay these fees initially when setting up the IRA account and throughout the account's lifespan. Knowing ahead of time helps you plan for these new investment ventures and ensures you have the capital to cover all related costs.
Self-Directed Gold IRAs and Tax Implications
After you turn 65, contact your custodian to start distributions. You decide how much you receive from the IRA account each month.
However, you must consider that the IRA funds used to open the account were tax-deferred, and you'll pay income tax according to how much you receive annually.
Careful planning helps you control these distributions and decrease your tax implications. If you decide to liquidate the gold IRA, you must discuss your options with your custodian.
Under the circumstances, you would pay income tax on the total cash value you receive for your precious metals. Your custodian can calculate the complete tax implications according to the cash offer you receive from American Hartford Gold or the gold company offering the highest payout.
Self-Directed Gold IRA and Estate Planning
Protecting your gold investment for the future is paramount. Estate planning is one way to ensure that your heirs receive distributions if you die before you can use all the funds. You can set up provisions to roll over the self-directed gold IRA into an inherited IRA for your heirs. The beneficiary receives distributions according to the payment schedule you set up.
Still, if they don't set up the distributions within five years of your passing, your custodian must liquidate the account and distribute it to your heir in one lump sum. Your heirs could face higher tax implications if they accept a lump sum instead of monthly payments.
Another choice is to add the self-directed gold IRA into a trust through an estate plan. If it is in a trust, your heirs won't face issues with probate because the IRA is no longer a part of your estate. Instead, you choose a successor to take over the trust when you die, and they make all decisions about the gold IRA and other assets transferred into the trust.
For example, if you want to leave the IRA to multiple heirs, your successor could liquidate the IRA account through the trust. They'd pay taxes according to the total cash value with funds from the trust, and they could add the proceeds to the trust account. Your successor could then distribute the proceeds evenly between your heirs, and your family avoids additional inheritance taxes.
American Hartford Gold has IRA specialists who are familiar with future planning and could provide further advice about distributions and securing the asset for your heirs. To discuss your options, a toll-free number is available for these specialists on the American Hartford Gold website.
Buying Precious Metals
American Hartford Gold offers precious metals from the US, Perth, and Royal Canadian Mints. Unfortunately, most products in their inventory were minted previously, and as of 2023, the gold seller doesn't have any brand-new precious metals releases. However, you can get updates with a user account and track the availability of freshly minted options.
You can browse their inventory on their website. Under each tab on the navigation bar, you can find their complete list of gold, silver, and platinum coins, bullion, and bars. The tab also offers a separate menu option for finding special deals and offers for each category. For example, click "IRS-Approved" on each product page to find precious metals available for a gold IRA.
When you are ready to purchase your precious metals, create a list of the products you want, and call a customer service representative to get a price quote. If you buy precious metals outside of an IRA, you can set up your payment with the customer service representative.
American Hartford Gold ships your precious metals to your preferred location in discreet packaging after they receive your complete payment.
Setting up an account with American Hartford Gold helps them track your purchases and makes it easier for you to purchase more precious metals later. You should update all contact information and personal details any time there are any significant changes, such as you move or change phone numbers.
Profit Losses and Penalties
American Hartford Gold imposes penalties for order or payment cancelations like other precious metals dealers. If they incur a loss due to market price changes, you must pay penalties for cancellations or if you stop the payment.
After accepting their offer and locking in the price, you must send the payment via wire transfer. You won't face a penalty if the market prices increase following the cancellation.
Guides and Investment Advice
Request a free annual guide from American Hartford Gold for more details about upcoming products and investment advice. American Hartford Gold has a web form you can complete to request the guide, and they deliver the free guide to your preferred email account.
Selling Precious Metals
You must call a customer service representative to sell precious metals to American Hartford Gold. If you want to sell precious metals you didn't buy from them, you must explain what you want to sell to the representative.
Then, to give you an accurate quote for these precious metals, they will send you a kit with instructions on how to package your metals and send them discreetly to American Hartford Gold.
Once they receive your package, they weigh and inspect the metals to calculate a price quote. Finally, the representative presents an offer, and you can accept or refuse. If you accept, they will keep your precious metals and send your payment according to your preferred payment method. For example, they can mail a check or send a wire transfer to your bank.
If you want to sell precious metals you purchased from them, contact a customer service representative, and inform them which precious metals you want to sell that, appear in your order records. The representative provides a cash offer for your precious metals based on the current market value and after deducting their fees.
They mail you a pre-addressed package with pre-paid shipping for you to return these precious metals to American Hartford Gold. Once they receive your metals, they determine if the products are in the specified condition. If so, they will send you a payment based on the price quote. A customer service representative may contact you with a new offer if the metals don't meet their expectations.
American Hartford Gold can refuse a buyback or purchase based on imperfections or damage. However, you are notified if they do not wish to buy the metals after your shipment arrives. All precious metals returned to customers by American Hartford Gold arrive in discreet and secure packaging and are covered by insurance.
Tracking Your Precious Metals Values
American Hartford Gold offers tracking options for monitoring your precious metals values. At the top of their website, you'll find a scrolling marquee displaying the current market prices for gold, silver, and platinum. The prices update according to the market prices on the NASDAQ.
Checking the market price helps you avoid financial losses and getting ripped off. In addition, knowing the current market price helps determine if you receive a fair price from gold resellers if you choose to sell your precious metals.
Is American Hartford Gold Legitimate?
American Hartford Gold has accreditation through the Better Business Bureau and Consumer Affairs. It is a legitimate company and precious metals company. As of 2023, there aren't any legal complaints against the company that indicates that consumers have been manipulated or defrauded of any precious metals purchases, IRAs, or investments when dealing with the company.
Most customer reviews indicate the company offers satisfactory customer service and high-quality precious metals products. In addition, there aren't any reports of inflated prices for the bullion, coins, or bars the customers bought from the company or discrepancies in the organization's claims to provide precious metals at market prices.
What Are the Advantages or Disadvantages?
American Hartford Gold's advantages include its accreditation with the Better Business Bureau and Consumer Affairs and the many positive customer reviews they have online.
As of 2023, the company doesn't require a minimum purchase amount or impose fees to start an IRA. In addition, the organization offers a vast inventory of precious metals for investors and collectors.
The disadvantage is that they have a limited supply of recently minted coins and bullion. For this reason, investors may pay more initially for precious metals since their inventory includes products that have grown in value and have a high resell value.
After reviewing American Hartford Gold, they offer many benefits for investors. Whether investors want to set up a self-directed gold IRA or buy precious metals outright, the gold seller provides many options that have a high value and give investors a better start for diversifying their portfolio.
They have preferred custodians to help clients save money initially, but the company doesn't impose restrictions on custodians or depositories. Overall, American Hartford Gold is a sound choice for investors, and the company can help collectors find high-quality precious metals.
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