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We used our standard gold dealer review methodology for this Priority Gold review. As part of our review process, we spoke to key members of the company's staff team, and clients who have done business with the company. The essence of speaking with these people is to ask them questions about the company.
After conducting thorough research on Priority Gold, we could not rate the company among our top thirty gold companies.
This Priority Gold review contains the details we discovered about the company and why we could not rate it as one of the top thirty companies in the gold industry. Read till the end of this review to see our conclusions about Priority Gold.
Our aim as a professional review organization has been to evaluate precious metals companies and provide our readers with the firms that are the best for diversifying their retirement portfolios using precious metals investments. We understand that people seek reliable options to safeguard their future, and we strive to offer them the most trustworthy recommendations.
Over the years, we have evaluated hundreds of companies in the precious metals market and carefully selected the five best companies for doing business with. These companies have proven to be trustworthy and reliable for people interested in investing in precious metals. These companies, in their ranking order, are.
Monetary Metals & Co was founded by Keith Weiner in 2012. Currently, the company’s headquarters is located in Arizona, United States.
Keith also founded the popular Gold Standard Institute. Keith Weiner is also responsible for ensuring that the government passed laws that made gold a legal tender in Arizona.
Below are some of the people in the company’s management team.
Priority Gold sells only a variety of gold and silver products. They do not sell platinum and palladium products.
Furthermore, it offers IRA (Individual Retirement Account) service to interested customers through its partnership with Preferred Trust Company, an SDIRA (Self-directed Individual Retirement Account) custodial services company.
When you want to invest in a gold IRA through Priority Gold, the Preferred Trust Company will set up your account, rollover funds from your existing retirement account to your new gold IRA account, and buy your preferred precious metals on your behalf. In addition, the custodial company will be responsible for your account management.
Priority Gold is not transparent about its costs and fees. You would have to contact the company’s customer care department to determine the costs and fees of its products and services.
The precious metals dealer sells physical gold and silver bullion coins. In addition, you will find rare collectible coins in the precious metals catalog on Priority Gold’s website. Below are some precious metal products in Priority Gold’s catalog.
As we mentioned, Priority Gold does not sell platinum and palladium. Hence, you will not find any products in those categories on the company’s website.
Precious Metals IRA
You can open your gold IRA account through Priority Gold and diversify your retirement savings portfolio using precious metals. In addition, you can rollover funds from your existing retirement accounts like 401k, 457, 403b, and TSP into your new gold and silver metals account.
Investing in a gold IRA allows you to enjoy the tax benefits of an IRA account while also benefiting from the stability and price increase of precious metal assets.
In these four simple steps, you can set up your gold IRA accounts through Priority Gold.
Priority Gold works with Preferred Trust Company to offer IRA administrative services to interested clients. Preferred Trust Company is a financial institution that began operations in 2007. It is known in the United States for its reputation in custodial service delivery and excellent customer service. Furthermore, Preferred Trust Company is an IRS-compliant custodial company.
Priority Gold does not partner with storage companies or depositories for gold and silver storage.
Priority Gold assists customers who want to sell their precious metal investments. According to a customer care representative, Priority Gold is dedicated to offering its customers quality precious metals. In addition, the company can also buy back any precious metal they sell to their customers.
The company has various buyback options, and they offer them to customers who want to sell precious metals for any reason. The customer rep emphasized that Priority Gold will only buy precious metals from you if it sold them to you during your purchase.
The precious metal dealer pays clients for their metals within 3 days after receiving and confirming the products they want to sell. It will pay you directly through check.
Below are the buyback options mentioned on Priority Gold’s website.
This buyback option is best suited for investors who want to achieve the highest open market price on their precious metals.
However, these types of customers would have to sell the metals themselves. The truth is that selling your precious metals via an Open Market Sale will allow you to sell them for the highest price. Nevertheless, it requires more commitment from you.
In addition, you can sell them through various available auction services. Consider the auction fees and be ready to facilitate the transaction yourself.
This buyback option allows Priority Gold to do all the work while you relax and wait for the results. In other words, a Consignment Sale allows Priority Gold to handle the entire process of selling your precious metals on your behalf.
When we asked a rep for more details about this buyback option, he told us that the company will push your products to the frontline and sell them to the market via Priority Gold’s active trading floor.
However, note that you may not get the highest price in the market for the sale. According to the representative, Priority Gold’s current market ask price on all metals, which sales it facilitates, is minus 15% of the selling price.
The 15% charge will cover the marketing, transaction, insurance, and shipping costs. Please know that you will pay for the shipping and insurance required to move the metals you want to sell to Priority Gold. Priority Gold will handle the other after-sales expenses.
Furthermore, the customer rep told us that this buyback option is best for customers who want reasonable prices for their gold and silver products. He also mentioned that the Consignment Sale is not for everyone.
To qualify for a Consignment Sale, you must be a Priority Gold client who has held your precious metals investment for at least 60 months (5 years) after buying them from the company.
The Immediate Liquidation Sale buyback option is best for investors who want to liquidate their bullion products immediately for rare coins or investment-grade gold and silver products.
Priority Gold will buy your precious metal at its current bid price when you opt for this buyback option. This method is the fastest way to sell your metals without fees or charges from Priority Gold. However, be aware that you are responsible for the insurance and shipping fees of sending your metals for sale to Priority Gold.
The customer rep told us that opting for this buyback service option means selling your metals for lower prices than you will get if you sell through the Open Market or Consignment Sales options.
4.5 out of 5 stars.
This rating was out of 172 reviews.
Bear Lake Gold will end this “Priority Gold Review” by answering, “Is Priority Gold a Scam?” Judging by the information we got from our objective and subjective sources online and offline, Priority Gold is not a scam.
It is a legit gold company that has climbed the ladder of success in the industry through its unblemished reputation since its inception. Its reputation earned it the Sherman Oaks Award in 2019. In addition, it has five-star ratings from Business Consumer Alliance and Better Business Bureau.
However, as a professional review organization, we would not recommend the company to our readers for their precious metal investments for the following reasons.
Priority Gold sells mainly gold and silver coins, which are not so profitable for IRA investments.
They have few reviews for a company that has been in the industry for so long.
Priority Gold's services do not include precious metal storage, which means they leave the job of storing metals on the shoulders of their customers.
They are not transparent about their costs and fees.
Hence, suppose you want to diversify your retirement portfolio by keeping some of your savings in gold through a reputable company with better features. In that case, we recommend doing business with any of our trusted precious metals dealers below. Click the links below to request their detailed review guides and see why they are the best for your precious metal investments.
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Priority Gold offers a wide range of gold & silver coins, gold & silver bars, and certified graded coins that meet the standards set by the IRS and your needs. Our recomended Gold and Silver Bullion dealer is Augusta Precious Metals
Priority Gold is not a scam. It is a legitimate company that provides self-directed IRA services and precious metal investments.
