Patriot Gold Group Review

Patriot Gold Group is a company that allows customers to invest in precious metals, including gold, silver, platinum and palladium. Through Patriot Gold Group, customers can invest via physical precious metals — gold and silver coins and gold — and through an individual retirement account (IRA).

In this Patriot Gold Group review, we discuss its pros and cons, offerings and other important information about the company. You can also look at how Patriot Gold Group’s precious metals IRA compares to Money’s list of the best gold IRA companies in the market to learn more.

Patriot Gold Group pros and cons

Patriot Gold Group pros

As a precious metal investment firm, Patriot Gold Group has a number of pros, which we discuss below.

A+ BBB rating

Patriot Gold Group has been accredited by the Better Business Bureau (BBB) since 2022 and boasts an A+ rating. The BBB assigns letter-grade ratings to businesses based on seven key factors, including complaint history with the BBB, the company's history, and known advertising and legal issues. To earn an A+ rating from the BBB, companies must respond in good faith to customer complaints, have few or no legal issues and avoid problematic advertising practices.

24-hour account setup

If you want to open a gold IRA but are intimidated by the precious metals IRA process, Patriot Gold Group offers a three-step IRA account setup. You first need to contact the company via Patriot's online portal or phone. Then, a Patriot customer service representative will work with you to roll over an old 401(k) or IRA into your newly created Patriot Gold Group account. Finally, you'll work with your Patriot customer service representative to buy and store the precious metals that will fund your account.

Conditional no fees for life

Typically, recurring annual fees for a gold IRA include insurance and custodial fees. However, with Patriot Gold Group, customers aren’t charged any fees for its gold IRAs, which can add up to substantial savings over the long term, if they’re able to meet certain funding criteria.

Patriot Gold Group cons

Patriot Gold Group also has a few drawbacks that you should consider before investing with the firm. The following section discusses them.

Website lacks educational resources

When considering precious metals investing, it’s important for potential customers to get answers to all of their questions about the risks before making a purchase. On Patriot Gold Group’s website, you can access its silver and gold IRA investor guides, but you must provide your contact information.

Other than these two resources, however, the website lacks robust educational resources, like frequently asked questions and articles about precious metal investing best practices.

$50,000 minimum deposit to open an account

Some new investors might have limited funds to dedicate to an investment account. According to a customer service representative from Patriot Gold Group, the company requires a $50,000 minimum deposit to open an account. Given this high investment, you might look to other precious metal investment options with a smaller financial threshold.

Patriot Gold Group offerings

Patriot Gold Group is a gold and silver dealer that offers several kinds of gold and silver investment opportunities as part of its precious metals IRA.

Gold bullion

Gold bullion is pure gold in physical form, including gold bars. Patriot Gold Group offers seven kinds of gold bullion, including bullion from the U.S., Canada, South Africa and Austria.

Gold coins

If you want to use Patriot Gold Group to invest in gold coins, you can choose from exclusive or proof gold coins. Exclusive gold coins include vintage and contemporary coins from the U.S., Canada and Australia. Patriot's proof gold coins include gold from the U.S. Mint, including a set of four coins.

Gold IRA

With a gold IRA, you can hold physical precious metals, including gold and silver. This allows you to grow your gold investment tax-free as you save for your retirement, unlike if you were to simply purchase coins or bullion for eventual resale. Patriot Gold Group offers 10 gold IRA coins from the U.S., Canada, the UK and Australia.

Silver bullion

For silver enthusiasts, Patriot Gold Group offers five bullion options from the U.S. and Canada.

Silver coins

Patriot Gold Group's silver coin offerings include proof and exclusive silver coins. Silver proof coins include four options from the U.S. and Canada. The exclusive coin choices are from Australia, the UK and the U.S. and include coins over 50 years old, as well as newer silver coins.

Silver IRA

Patriot Gold Group has seven kinds of IRA-eligible silver coins from the U.S., Canada and Australia.

Patriot Gold Group pricing

Patriot Gold Group's pricing structure depends on the kind of investment plan you want to pursue, the amount of your investments, which precious metal you choose to invest in and which storage and insurance options you select.

Storage and maintenance fees cost $250 for the first year and $200 each year after that, according to a Patriot Gold customer service representative. Customers can also expect to pay $225 for the account setup unless they initially invest an initial minimum requirement that will qualify them for the no-fees-for-life offer.

For a specific estimate of the fees you'll pay based on your situation, contact a Patriot Gold representative.

Patriot Gold Group financial stability

Patriot Gold Group was founded in 2016 and is a certified Professional Coin Grading Service (PCGS) company and is a member in good standing of the Numismatic Guaranty Corporation. However, because it is a privately owned company, information about its financial well-being is not available online.

Patriot Gold Group accessibility

Availability

The company is based in California and has partnered with storage facilities in several locations throughout the U.S. It serves customers in all 50 states.

Contact information

You can contact Patriot Gold Group by starting a live chat or submitting a contact request on its website. You can also contact a representative via phone at (877) 771-6618. Live chat and phone support are both available Monday through Thursday from 7 a.m. to 5 p.m. PST and Fridays from 7 a.m. to 3 p.m. PST. You can also contact Patriot Gold Group via email at info@patriotgoldgroup.com at any time.

User experience

Patriot Gold Group's website is mobile responsive and includes interactive features like live chat and an online input form to start the quote generation process. The website also features a Knowledge Center, which provides resources about gold and silver prices, as well as a required minimum distribution calculator that is useful for retirement planning.

Patriot Gold Group customer satisfaction

Despite being accredited by the BBB since 2022, Patriot Gold Group has no customer reviews on the platform. Another user review website, Truspilot, gives the company a perfect five-star rating based on 315 reviews.

How to open an account

You can open a gold IRA account with Patriot Gold Group by submitting an online application on the company's website or by calling its toll-free customer response number during service hours. The application will require you to include personal information such as your address and Social Security number.

Once your application is processed, a customer service representative can help you get your account up and running, including rolling over funds from other accounts and choosing the precious metals you wish to invest in.

Patriot Gold Group storage options

Patriot Gold Group allows you to choose your own storage options for the physical assets you purchase. You can choose to store your investments in a secure and insured storage facility with free delivery of your precious metals to the facility by Patriot Gold Group. If you have a taxable account, you can also opt to store your investment bullion or coins at home or in a private storage facility. Importantly, for a gold IRA, that latter option is not permitted by the IRS.

How we evaluated Patriot Gold Group

In analyzing Patriot Gold Group’s gold IRA, we evaluated aspects of the company’s business model, its product offerings, financial stability and customer feedback. We also examined its certifications, accreditations and ratings, as well as pricing and the various account options available to customers.

Summary of Money's Patriot Gold Group review

Patriot Gold Group is a precious metals dealer that offers investment options in the form of coins, bars and bullion, as well as precious metals IRAs. The company has an A+ rating from the BBB and offers several perks that might be enticing to precious metals investors, including an IRA setup with simple steps to roll over funds and conditional no fees for life.

However, for the budget investor or investor new to the precious metals investment space, Patriot Gold Group could present some disadvantages. The company has high financial barriers to entry and charges for each transaction. If you're still learning the ins and outs of precious metals investing, you might consider a different dealer, as Patriot Gold Group's online knowledge resources are limited.