What is Gold Alliance?
Gold Alliance is a gold IRA provider and precious metals dealer based in Reno, Nevada. They have been in the industry since 2002 and have nearly 20 years of experience.
Their office is located at 50 W Liberty St Suite 420, Reno, NV 89501. Similarly, their contact number is 888-734-74-53.
Gold Alliance offers its customers to choose from multiple IRA custodians including Equity Trust, GoldStar Trust and Preferred Trust.
Furthermore, the company has a large product selection including IRA-eligible gold and silver as well as non-IRA collectible coins.
Some of the most popular products available with Gold Alliance include Gold American Eagle, Silver American Eagle, Platinum Canadian Maple Leaf, Platinum British Britannia among others.
The company has been able to carve a unique niche for itself thanks to its focus on 100% customer satisfaction and transparency.
Moreover, their leadership team comprises highly experienced individuals with qualifications you can count on. I liked how the company’s various Gold Alliance reviews praise the company for its customer service as well.
This gold IRA company offers many free resources to consumers so they can get a deeper understanding of what IRA is.
Additionally, the company enjoys an A+ rating on BBB, a praiseworthy feat.
About the People Behind Gold Alliance
In this section of my Gold Alliance review, I will share some details about the people running Gold Alliance:
Joseph Sherman (CEO / Partner)
Joseph Sherman is the CEO of Gold Alliance. He is a member of the National Ethics Association (NEA) and the Industry Council for Tangible Assets (ICTA).
The Gold Alliance CEO earned a law degree with honors from teh University of Tel Aviv.
He writes on economics and personal finance. Joseph Sherman has also written on the government’s fiscal policy.
Also, the family background of Sherman is full of struggles. According to his bio on the Gold Alliance website, his father was a baker who used to start work from 4 AM.
Kevin Troy (Sr. Portfolio Manager / Partner)
Kevin Troy is the Senior Portfolio Manager at this gold IRA company. He used to work at JP Morgan Chase and then transitioned into a real estate lending career.
In that sector, Kevin Troy became a partner in one of the largest mortgage brokerages in San Diego.
He has a degree in marketing with honors from San Diego State University. Also, the Senior Portfolio Manager at Gold Alliance has over 15 years of experience in helping clients develop well-constructed portfolios.
Fred Abadi (Sr. Portfolio Manager / Partner)
Fred Abadi is a graduate of California State University, Northridge and has a degree in Business Management.
He used to work at Global VR where he increased the firm’s revenue by 40% through his customer service implementations.
Like Kevin, Fred Abadi also has over 15 years of industry experience. He focuses on providing customers with quality service and making sure they have a diversified portfolio.
How to Invest with Gold Alliance
You can begin investing with Gold Alliance by following these steps:
First, you will need to contact the gold IRA company and enquire about opening an account with them.
The representative will provide you with an application which you’ll have to fill out.
Afterwards, you will need to mail the application to them in a prepaid FedEx envelope they will provide you with.
When they get your application, it takes them around 24 hours to activate the account.
After your account is active, your Gold Alliance representative will ask you to fund your IRA. If you have an existing 401(k), the firm will offer to roll over your savings to your gold IRA account.
This process takes around 5 business days.
Once your account has received the necessary funds, Gold Alliance will ask you to choose your preferred gold and precious metals investments.
The representative will help you in selecting the right products depending on your financial needs and goals. After the purchase is complete, the IRA provider will store them in an IRA-approved storage facility.
Furthermore, the firm will send you quarterly reports on your gold IRA portfolio’s value. Also, you can check your account information online whenever you want.
In case you don’t want to store the precious metals in their preferred storage facility, you can ask them to ship the products to another facility or your home as well. However, be sure to consult a financial expert before doing so.
Gold Alliance Products:
With Gold Alliance, you get a large variety of precious metal products to choose from. The IRA provider offers many types of coins including bullion, uncirculated, proof and more.
Here, you get various IRA-approved gold coins as well as silver coins and bars. Some of their most popular coins include the Silver American Eagle, the Gold American Eagle and the Gold Australian Striped Marlin.
Apart from IRA-eligible products, you will find many collectible and limited mintage coins at Gold Alliance.
Here’s a detailed overview of Gold Alliance Products:
Gold Alliance offers over 50 different gold products for you to invest in. You get coins as well as bars to choose from.
Some of these most popular products include the Gold 9/11 Never Forget ⅛ oz 2021 coin. It’s the world’s first ⅛ oz gold coin and was commissioned by the Royal Dutch Mint.
It’s a limited mintage coin and features a firefighter with his canine friend on the coin’s obverse side.
Another attractive limited mintage available here is the Gold Sceptre Guinea ¼ oz.
It is minted by the East India Company Mint and is an official legal tender of the country of St. Helena.
The British Government guarantees this coin’s quality. Hence, it commands a lot of respect for its purity.
On the other hand, if you’re looking for collectible coins, you can find many of them here:
- Gold American Eagle Proof 1 oz
- Gold Indian 0.5 oz
- Gold Saint Gaudens Double Eagle 1 oz
IRA-Approved Gold Alliance Coins in Gold:
There are a total of 15 IRA-eligible gold products available at Gold Alliance. These include:
- American Eagle Gold Coin
- 9/11 Never Forget Memorial Gold Coin
- Canadian Polar Bear Gold Coin
- Australian Striped Marlin Gold Coin
- Canadian White Falcon Gold Coin
Apart from these coins, you also get the option to invest in gold bars of 1 oz and 10 oz.
If you want to diversify your portfolio then adding silver products might be a great decision.
Gold Alliance offers 20 different silver products for you to invest in.
Among them, some of the most popular products are:
- Silver Kennedy Half Dollar
- Silver Walking Liberty Half Dollar
- Silver Sceptre Guinea 1.25 oz
IRA-Approved Gold Alliance Coins in Silver:
In terms of IRA-eligible silver products, Gold Alliance offers you 12 options to choose from. Some of the coins you can get in this category include:
- Spotted Eagle Ray Silver Coin
- Canadian White Falcon Silver Coin
- Helena Sovereign Silver Coin
- Canadian Polar Bear and Cub Silver Coin
Apart from these coins, Gold Alliance offers you Silver bars of 10 oz and 100 oz weights to invest in as well.
Surprisingly, Gold Alliance doesn’t offer a large variety of platinum products. You don’t get any platinum products that are not eligible for an IRA account.
IRA-Approved Gold Alliance Coins in Platinum:
In terms of IRA-approved platinum products, you get 3 options to choose from with Gold Alliance.
These include the Platinum British Britannia coin, Platinum Canadian Maple Leaf coin and platinum bar weight 1 oz.
Although the above product selection is full of variety, there’s one thing I didn’t like.
Gold Alliance doesn’t share any pricing details about its precious metal products on its website. To find out the prices of any of these products, you would have to call their toll-free number and inquire about the same with a representative.
Certainly, it doesn’t allow you to compare their prices with other bullion dealers easily.
Gold Alliance Fees: Is it Too High?
Gold Alliance Fees for setting up an IRA account is $50. The annual maintenance fee varies with Gold Alliance depending on the custodian you choose.
For example, GoldStar Trust Company charges a minimum annual maintenance fee of $75 while the minimum annual maintenance fee of Equity Trust Company is $225.
For storage, the Gold Alliance fees are $150 for segregated accounts and $100 for non-segregated accounts.
On average, the annual cost of investing with this precious metals dealer is $180 per year.
This is considerably lower than the industry standard. Furthermore, it’s worth remembering that the prices of precious metals change every day so your costs will vary.
Also, Gold Alliance claims to add a 33% markup on its product prices. This can deter some investors but the lower annual fees make up for the difference.
Furthermore, with this gold IRA company, you don’t have to worry about any hidden charges or fees. The company maintains full transparency when it comes to its charges.
|Initial Setup Fee||$50|
|Annual Maintenance Fee||Variable (depends on the investment and custodian)|
|Storage Fee||$150 for segregated storage and $100 for non-segregated storage|
Additional Highlights of Gold Alliance
Apart from an impressive product selection and competitive fees, Gold Alliance has a ton of features which set it apart from the rest:
Dedicated Client Education
One of the biggest highlights of Gold Alliance is how much this IRA provider focuses on educating its clients.
In the ‘Resources’ section of their website, you’ll find ample guides and articles.
They have a blog which covers the latest industry trends as well as key topics about investing in gold and silver. You can get a great understanding of the current economic climate by following the Gold Alliance blog.
From articles about the IRA to the government’s fiscal policy, there’s a lot to read there.
Furthermore, they have a dedicated FAQ page about gold and silver. Some of the questions available in the FAQ section include:
- How do I know my coins are real?
- What should I buy?
- How do I store my metals?
Certainly, the FAQ page can help you resolve your doubts easily and effectively.
Large Selection of Custodians
Gold Alliance offers its clients a large selection of custodians to choose from. The company has preferred partnerships with the following IRA custodians:
- GoldStar Trust Company
- Preferred Trust Company
- Equity Trust Company
Equity Trust Company is among the leading IRA custodians. They have over 30 years of industry experience and serve all 50 states.
Currently, Equity Trust Company manages over $25 billion in assets. Hence, they are one of the most reliable IRA custodians for many investors.
On the other hand, Preferred Trust Company is relatively new but has grown exponentially to become one of the top IRA custodians.
Their fees are all inclusive.
GoldStar Trust Company is a similar firm with nearly 38,000 self-directed IRAs under their belt.
The IRA custodian operates in all 50 states and like the other two, is among the most popular IRA custodians in the country.
Quality Storage Options
The preferred depository of Gold Alliance is Delaware Depository in Wilmington, Delaware. This 72,000 sq ft facility has Class 3 vaults and state-of-the-art security protocols.
The Delaware Depository offers its clients a robust insurance policy from Lloyds of London.
It’s worth noting that Lloyds of London is among the oldest insurance firms on the planet.
The insurance goes up to $1 billion and the depository is IRA-approved. Hence, you don’t have to worry about any technical complications with their storage.
Also, Gold Alliance allows you to choose from segregated and non-segregated storage facilities.
Gold Alliance Buyback
At Gold Alliance, they offer a buyback facility for many precious metal products. This includes coins and bars from other bullion dealers as well.
Furthermore, Gold Alliance says it honors its buyback program without question. They will purchase all precious metal products you have bought from them.
On the other hand, for precious metals products of other bullion dealers, the company will first inspect the product. Then, they will make an offer.
It’s worth noting that their buyback facility only includes coins and bars.
Free Guide on Gold and Silver Investments
Gold Alliance focuses heavily on providing its clients with ample resources. They offer a free guide which teaches you about investing in alternative investments like gold and silver.
All you need to do to get the Gold Alliance free guide is to enter your name, email and phone number. Then, they will mail the guide to you directly.
100% Money-Back Guarantee of Gold Alliance
Gold Alliance Reviews: What Their Clients Say
Before you invest with any gold IRA provider, it’s best to look up their reviews. While researching for this Gold Alliance review, I found plenty of consumer reviews on this company.
Overall, the reviews paint a very positive picture.
The company enjoys a high rating on almost all third-party review platforms which shows they have put in significant effort into customer satisfaction.
Here’s a detailed overview of Gold Alliance reviews:
Gold Alliance BBB:
The Gold Alliance BBB page has an A+ rating. Furthermore, they have a 4.96 out of 5-star rating on the basis of over 170 customer reviews.
Having such a high rating on BBB suggests the company prioritizes its customers’ experience over other aspects.
The reviews on the Gold Alliance BBB page praise the company’s customer service particularly.
For example, Glenda says that she had invested in precious metals before. So, getting started seemed scary to her.
However, she points out that the staff at Gold Alliance was fantastic as they answered her questions and guided her through the experience.
Glenda says she is now comfortable with her new investments and recommends the IRA provider to others.
Gold Alliance BCA:
On Business-Consumer Alliance, there are 13 Gold Alliance reviews. All of them give the gold IRA company 5 out of 5 stars.
Hence, the company enjoys a stellar AAA rating on the platform.
Reviews on this platform praise the customer service of the company as well.
For example, Jimmy says the staff at Gold Alliance was very helpful. They sent him all the paperwork and called him to explain the paperwork before he signed it.
Then, the staff explained to him all the different precious metals and the suitable products depending on his portfolio.
Jimmy says he is happy with how the staff explained everything to him and completed the process professionally.
I must add that even though Gold Alliance has been in the IRA industry since 2002, the firm has very few reviews online.
This bugged me a little because the company has already been in business for 20 years now. There should be sufficient reviews but apart from the BBB page, there weren’t many Gold Alliance reviews available.
Verdict: Is Gold Alliance Legit?
- Large product selection
- Hundreds of positive reviews on BBB
- Low fees
- Multiple IRA-eligible custodians
- Maintain customer’s privacy
- Plenty of free resources for IRA education
- Website doesn’t disclose pricing
- Relatively fewer reviews than their competitors
- High markup on premium products
- No platinum products
According to the hundreds of Gold Alliance reviews I found online, my answer is – yes, they are legit.
The company has been in the industry for 20 years and has been able to develop a reputation for providing quality customer service to its clients.
Furthermore, the large selection of free resources available on their website make it easy for new investors to get acquainted with precious metals investments.
The company’s leadership is highly experienced and every client gets access to their senior portfolio management team. On top of that, various Gold Alliance reviews indicate that the firm is extremely helpful towards its clients.
Gold Alliance has been in the industry for a while and their leaders’ experience has helped them get ahead in the industry.
Their product selection is large and there’s something for everyone. Whether you’re interested in collectibles or common bullion, you’ll find precious metals products here.
The only drawbacks of Gold Alliance is its lack of transparency in terms of pricing. You must contact their account representative to find out the current prices on their precious metals, which makes price comparison rather difficult.
Another drawback is the lack of reviews online. Although the company has been in business for 20 years, they have very few reviews in comparison to their industry counterparts.
Gold Alliance is a good option for novice investors. Their focus on educating their clients and providing effective customer service makes them suitable for beginners.
Also, their large selection of collectible gold and silver coins makes them perfect for casual investors.
Furthermore, there is no minimum buy limit. So, you can start with as little investment as you want. You also get access to their highly experienced portfolio managers which is another highlight of Gold Alliance.
The company gives you multiple custodians to choose from including the renowned Equity Trust and GoldStar Trust.
However, don’t take my word blindly. Always consult a financial advisor before making such decisions.
If you’re interested in reading about other gold IRA providers, feel free to check out our list of the top gold IRA companies.