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.
Everybody’s talking about buying precious metals and about precious metals retirement accounts.
Experts tout the purchase of gold as a solid hedge against inflation, protection against market volatility, and a way to diversify your retirement assets within your portfolio. It’s never been more important to deal with an honest, reputable precious metals dealer.
Enter United Gold Group. Based in Los Angeles, CA, they are a precious metals company offering opportunities to invest in gold with your IRA. Are they legitimate company? What are their reviews? What exactly is their gold IRA? What can you expect when you work with them?
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 United Gold Group has what it takes to make the list this year!
This lets you to quickly compare the leading companies in this field and select the one that aligns with your specific requirements and investment objectives.
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Who is United Gold Group?
We compiled this review to answer all of these questions. We cover who United Gold Group is and what types of precious metals they sell. We also look at how to set up and fund a precious metals IRA using an existing retirement account.
United Gold Group is a precious metals company based in Los Angeles, CA. They are a Better Business Bureau-accredited business with an A+ rating. Founded in 2018, they received accreditation in 2021. They sell gold, silver, and platinum bars and coins you can invest in with a retirement account.
According to their page on the BBB website, their listed management structure consists of Randy Kohl, President, and David Bleeden, Manager of Finance. There is no other info about the company’s leadership or its team. Their BBB file consists of four positive five-star reviews and three minor complaints closed within the last three years.
United Gold Group also maintains relationships and associations with other reputable, related companies and causes. They hold membership within the National Coin & Bullion Association (ICTA), a leading watchdog in the precious metals industry. They also belong to the Sound Money Defense League, a leading advocate for state and federal sound money legislation.
Lastly, the United Gold Group counts itself as a member of the Teddy Roosevelt/United Gold Wildlife Initiative. The initiative represents a partnership between United Gold Group and TreeSisters. TreeSisters is a UK-based charity focusing on social change, environmental protection, and reforestation.
Products and Services
United Gold Group sells precious metal products, namely coins and bars in gold, silver, and platinum. Generally, their gold and silver inventory tends to be much more abundant than their platinum inventory. United Gold Group offers precious metals products that have IRS approval for purchase with an IRA.
As a full-service precious metals investment company, they also help clients purchase IRS-approved precious metals through other types of tax-deferred accounts. They can work with prospective customers wanting to purchase precious metals through funds transferred or rolled over from an IRA, a 401(k), or even a 457.
Although United Gold Group helps customers use a host of retirement accounts to fund a precious metals IRA, the precious metals IRA is the only type of individual retirement account they offer. Called a self-directed IRA (SDIRA), it allows you to purchase and hold physical precious metals assets. Later, you can receive tax-free distributions in the form of cash or physical metals.
How to Set Up a United Gold Group SDIRA
To set up a SDIRA, you need to fund the account. You can do this with a bank wire, a transfer, or a rollover of funds from an existing tax-deferred retirement account. United Gold Group streamlines the process, putting seasoned team members at your disposal. With a single phone call, a team member can assist with filling out all of the required paperwork.
To perform a rollover or a transfer, contact your retirement account’s custodian. Transfers and rollovers performed within 60 days incur no fees or penalties. In some cases, transfers and rollovers can take as little as three to five business days.
Once you fund your precious metals IRA, you can start using its funds to invest in gold, silver, and platinum. Since these are collectibles, they must meet stringent IRS standards for purchase with an IRA. United Gold Group removes the guesswork from the process, featuring precious metal bars and coins that are also IRA-eligible.
United Gold Group can also help with:
SDIRA administration and due diligence are of utmost importance when managing any SDIRA. It’s just as critical when managing a SDIRA containing precious metals. Per the law, a precious metals SDIRA must have an associated IRS-approved custodian and depository.
A precious metals SDIRA or gold IRA requires record maintenance, IRS reporting, transaction processing, and distribution of funds. These are the custodial duties. Depositories take responsibility for asset custody, a must when you invest in precious metals with an IRA.
The law doesn’t allow you to hold your gold IRA’s physical metals. You must keep them at a secure, IRS-approved facility. Taking physical possession of your SDIRA’s precious metals before age 59 1/2 or before your account reaches five years of maturity incurs withdrawal taxes and penalties.
United Gold Group works closely with highly respected, IRS-approved depositories throughout the United States, including DDSC in Delaware and multiple Brinks depository vaults.
How Does United Gold Group Define Due Diligence?
Due diligence looks different from investor to investor and between investment types. However, there are some general criteria to bear in mind when considering what investments to make. First, examine your options.
In addition to precious metals, a SDIRA allows you legally to purchase and hold stocks, bonds, and many other nontraditional investment types: real estate, private loans, limited partnerships, and crypto, to name a few.
Research all your potential investment options. Gold purchased through an IRA can’t be withdrawn immediately. You can convert gold in your IRA to cash. You can then use the cash to purchase other assets, including other types of IRA-approved precious metals products.
IRA Precious Metals for Sale
United Gold Group identifies its IRA-approved precious metals inventory. A live chart on the website keeps buyers abreast of changes in prices. Selecting a precious metals website link takes you directly to United Gold Group’s IRA-eligible products.
The inventory fluctuates daily. Availability changes nonstop, with coins and bars of different weights appearing and vanishing. The inventory includes the who’s who of IRA-eligible precious metals and a few pleasant surprises.
The IRS has specific, somewhat conflicting requirements for the IRA eligibility of precious metals. Gold and silver must meet purity values of .995% and .999%, respectively. Coins and bars must be of certain sizes and weights.
Here are a few examples found on the United Gold Group website:
United Gold Group also sells IRA-eligible silver and platinum products. Most are silver and platinum versions of the gold coins and bars mentioned above: the Silver American Eagle coin, for example. A few other examples are the:
Surprisingly, the American Eagle coin in gold doesn’t meet the purity values the IRS established for the inclusion of precious metals in an IRA. As stated above, all IRS-eligible gold must have a purity value of at least 99.5%. The American Eagle coin in gold has a purity value of about 91% to 93% (about 22 karats).
The coin’s historical gravitas and its perceived value make it one of the most beloved, prized, and frequently collected gold coins. It’s also a product of the U.S. Mint. These factors give this coin a special, enhanced value that makes it an asset the IRS approves for purchase with an IRA.
These are the types of crucial details you discover when performing due diligence. Going forward, thoroughly research every single precious metals product or other opportunities before investing in it with your IRA. A lot of gold glitters, but not all of it is IRA-eligible.
Additional Services Worth Noting
United Gold Group offers additional services for those who wish to explore unique designations and trusts. Like a traditional IRA, you can transfer the wealth of your gold or silver IRA to an heir. United Gold Group helps you with the entire process, making it a cinch to designate beneficiaries.
United Gold Group can help you maximize the diversity of your precious metals IRA. They can assist with the setup of a self-directed retirement trust. Like a SDIRA, you can invest in trend-forward, nontraditional assets for a retirement trust, like private lending and fine art.
When it’s time to start taking Required Minimum Distributions from your IRA, United Gold Group is on your side. You can have your distributions sent to your home in the form of physical gold, or you can cash out.
The Pros and Cons of United Gold Group
United Gold Group is an attractive precious metals IRA company for several reasons. Their range of products and services is quite wide, encompassing admin, planning, IRS-eligible precious metals, and more. Their ICTA membership, BBB accreditation, A+ rating from the BBB, and their commitment to wildlife initiatives give them a healthy, well-rounded culture that’s both appealing and successful.
They haven’t been in the business for very long. Only founded in 2019 and BBB-accredited since 2021, they don’t have hundreds of customer reviews. However, their one-stop shopping experience is very attractive.
From setting up a precious metals IRA or a self-directed retirement trust to designating beneficiaries, providing trusted secure storage, and handling ongoing paperwork, they just about do it all. They also have a buyback policy, repurchasing your precious metals at very competitive market rates.
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