- A+ BBB rating
- Transparent pricing
- Free shipping
- Excellent customer service
- Newer company
- No online purchases available
In this Priority Gold review, you’ll learn if Priority Gold is the right precious metals dealer for you.
Whether that’s a Priority Gold IRA or a direct purchase of precious metals coins or bars, Priority Gold offers hands-on service from knowledgeable account executives, complete with product guarantees and even valuable promotions on certain products.
The main drawback is a lack of transparency on fees.
The Verdict for Priority Gold
Priority Gold has an excellent reputation among investors, and we were unable to find any pending or past lawsuits against the company.
As an investor, you can use the company to purchase gold or silver – either for a precious metals IRA or for direct purchase.
Overall, we’ve given the company an 8 out of 10 rating, except in the area pricing. That’s because they provide no pricing information on their website.
In our Priority Gold review, we’ve considered the following criteria in evaluating this company:
Category | Rating (out of 10) |
---|---|
Product & Service Offerings | 7 |
Pricing & Fees | 5 |
Guarantees | 10 |
Customer Experience | 8 |
Storage & Security | 9 |
Account Setup & Maintenance | 9 |
Reputation & Reviews | 8 |
Overall Rating | 8 |
In this review of Priority Gold, I’ve followed GIC’s detailed criteria for evaluating the precious metals IRA company.
About Priority Gold
Texas and California based Priority Gold, LLC was launched in 2015, and is a precious metals dealership providing metals for both direct purchase and for gold and silver IRA accounts.
Not much information is available on company ownership, but Dun & Bradstreet lists Michael Anderson as the key principal, as does the Better Business Bureau.
Expert’s Take
Priority Gold makes acquiring gold easy and stress-free. They have notched some of the highest consumer reviews and industry ratings and are committed to complete customer satisfaction.
They’re called ‘America’s Precious Metals Dealer’ because they want to help you protect your American Dream!
So, whether you’re buying gold or silver as a hedge against economic risk or to ride its record-breaking upside — Priority Gold is a company you can trust. It’s where I get my gold.
American Commentator, Author, TV & Radio Host
Product & Service Offerings
Priority Gold enables investors to either purchase gold and silver for personal possession or to be held in a precious metals IRA. Only certain coins and bars offered by the company are eligible to be held in an IRA.
These are coins which must meet IRS requirements for purity. Included are any coins with a metal content purity of .995% or higher. The primary exception is the American Eagle Gold bullion coin, that is .9167% pure.
Other coins available for purchase inside an IRA include the following:
- Canadian 1 ounce gold Maple Leaf
- 1 ounce silver rounds
- 10-ounce silver bars
- US Morgan silver dollars
- South Africa’s Krugerrand
Saint-Gaudens Gold Double Eagle (numismatic) are available for purchase outside an IRA, along with any other coins listed above.
Pricing & Fees
Priority Gold charges the following fees for gold IRA accounts:
Setup fee for IRA | $50 (only for IRA transactions, not cash purchases) |
Wire transfer fee | $35 |
Custodian administration fee | $80 to $125 annually (depends on custodian) |
Storage fees | $100 for non-segregated or $150 for segregated per year |
Priority Gold states on their website that they provide “complementary storage and shipping on qualified purchases”. However, they do not state exactly what qualified purchases refers to.
You should also expect to pay a markup on the purchase of any precious metals you either place in your IRA or have delivered to your home, as this is the common practice among precious metals dealers.
The markup typically ranges between 4% and 8% over the spot bullion price on the day of purchase. This fee varies based on the dealer, precious metals being purchased, the form (coin or bar), and the volume of the metal being purchased.
An email to Priority Gold requesting this markup information went unanswered.
Priority Gold Promotions
Priority Gold is offering the following promotions on qualifying purchases:
- Up to $5,000 in free silver on qualifying purchases
- Free storage and shipping on qualifying purchases
You’ll need to speak with a company representative to determine if you qualify for either promotion.
We aim to provide unparalleled knowledge and expert guidance on precious metals markets and products.
Guarantees
Priority Gold offers its Price Protection Program, on purchases over $250,000, with the following terms:
- Only certain customers qualify.
- Only certain precious metals qualify.
- Program lasts for 30 days following the recording of your transaction confirmation.
- Customers may elect either a price drop protection feature or the ability to buy more precious metals for the amount of funds originally remitted.
Investors may exercise this option only once should the price of the metals purchased drop after the original order is placed.
Priority Gold offers its Buy Back Policy, with three buy back “avenues”:
1. Sales on the Open Market
Offers an opportunity to get a higher sale price than other avenues. Your precious metals will be sold to the public at a price set by either you directly or by using available online auction outlets.
2. Sales from Immediate Liquidation
Priority Gold will repurchase your precious metals from you at the current wholesale bid price. This may be higher or lower than the price you paid for the metals, based on market factors at the time of sale. The metals will be converted to cash or cash equivalents, after being sold directly to a national wholesaler. Though the price your metals will fetch will be lower than other avenues, this is a way to immediately liquidate your holdings.
3. Sales on Consignment
This is an option if you do not need immediate liquidation. It’s available for the sale of investment grade or numismatic products purchased from Priority Gold that have been held for at least 60 months. It cannot be used for bullion products, whether coins or bars. Priority Gold charges an 18% consignment fee to find another buyer for your metals.
Customer Experience
Priority Gold customer contact is available by phone at (866)335-8786, as well as by live chat or email ([email protected]), through no days or hours of operation are specified.
However, the Better Business Bureau lists days and hours of operation as Monday through Friday, 8:00 a.m. to 5:00 p.m., which could be either Central or Pacific time due to the dual office locations in Los Angeles and Dallas, TX.
Priority Gold can also be contacted on popular social media sites, including Facebook, X, LinkedIn, and Instagram. However, the company does not offer a mobile app.
The company’s high ratings from third-party rating services (BBB, TrustLink, and Trustpilot) confirm a positive customer service experience.
Storage & Security
Priority Gold is a precious metals dealer, facilitating the buying and selling of precious metals offered. However, it does not maintain physical custody of your purchases and cannot store those held in a precious metals IRA.
Under IRS regulations, precious metals held in an IRA must be deposited with an approved trustee that operates an IRS approved storage facility for the metals.
Priority Gold uses Equity Trust Company and STRATA Trust as preferred trustees for that purpose, but you can select any IRS approved trustee. Therefore, once your metals have been purchased and deposited into your IRA, they will be held with one of these trustees.
While your precious metals are held in storage with a trustee, it will be recommended you hold insurance on the value of the assets.
The cost of this insurance will vary based on the insurance providers being used by the storage trustee, as well as the type and value of the metals stored.
If you are purchasing precious metals from Priority Gold outside an IRA, you can take direct custody of the assets. If you wish to have the metals insured, you can do so under your homeowner’s or renter’s insurance policy.
Account Setup & Maintenance
The process for setting up a precious metals IRA with Priority Gold takes place in 4 steps:
Step 1. You’ll have an initial consultation with a company representative. You’ll share your financial goals and ask any questions you have so that you thoroughly understand the nature of investing in precious metals. You’ll also be furnished with educational resources.
Step 2. In most cases, you will fund your precious metals IRA with a rollover from another retirement plan, such as an IRA or a 401(k). Priority Gold will handle paperwork for this rollover. You will also choose a trustee for your account.
Step 3. Tailoring your precious metals strategy. Once your initial consultation is completed, you will work with a representative of Priority Gold to establish a strategy. Your investment will be assessed, and a diversification strategy will be devised. You’ll also get help with specific metal selection, as well as market insights and information on IRS approved metals for your IRA.
Step 4. The precious metals IRA process will be finalized.
Request your free precious metals IRA guide
Reviews & Reputation
Priority Gold enjoys very favorable ratings among various third-party sources:
- Better Business Bureau: A+, the highest rating given.
- Trustpilot: 4.1 out of five stars based on over 300,000 reviews.
- Google listing: 4.4 out of five stars among 16 reviews.
- TrustLink: 5 out of 5 stars from 44 reviews.
Priority Gold Alternatives & Competitors
Priority Gold can be an excellent choice as a source for precious metals. However, if you prefer to “shop the competition” consider the following alternatives:
Our Rating:
4.8
|
Our Rating:
4.5
|
Our Rating:
4.2
|
Minimum for IRA transfers:
$25,000
|
Minimum for IRA transfers:
$2,000
|
Minimum for IRA transfers:
$10,000
|
Goldco
Much like Priority Gold, Goldco is a precious metals dealer providing alternative assets for IRAs and direct purchase. Though the selection of coins available through Goldco more limited than Priority Gold, they do offer their Highest buy-back guarantee as well as a silver bonus of up to 10% of amount of limited mintage coins purchased for a precious metals IRA. Goldco’s fees are comparable to those of Priority Gold.
Request Goldco’s free gold & silver guide
Noble Gold Investments
Noble Gold Investments works like the other precious metals dealers on this list, providing precious metals for direct purchase and for IRA accounts.
They offer gold, silver, platinum, and palladium – in both coins and bars – for investment. This can be an advantage over Priority Gold, which does not offer investments in either platinum or palladium.
Request Noble Gold’s free gold guide
American Hartford Gold
American Hartford Gold also offers direct precious metals purchases and a gold IRA. It offers a satisfaction guarantee that if you notify the company within seven days that you wish to cancel your purchase, you will receive a full refund within 30 days of receipt of the returned metals.
However, American Hartford Gold can be a bit high on fees. They have a sales charge of up to 19.99% for bullion coins, and 34.99% for numismatics.
Request AHG’s free gold investors guide
Is Priority Gold a legit company?
Based on the consumer ratings on Google, the Better Business Bureau, and Trustpilot – as well as the absence of any previous or pending legal actions against the company, Priority Gold appears to be a legitimate company.
Request your free precious metals IRA guide
FAQs
Who owns Priority Gold?
Priority Gold appears to be a small, closely held company. Dun & Bradsteet list Michael Anderson as the “key principal”, while the Better Business Bureau lists the same individual multiple times as “operating and marketing manager”.
Does Priority Gold have any pending lawsuits or complaints?
A Google search turns up no pending or previous lawsuits filed against the company, nor do any appear with the Better Business Bureau.
Where is Priority Gold offices located?
Priority Gold lists its headquarters as:
5005 Lyndon B. Johnson Fwy.
Suite 350
Dallas, TX 75244
There is also a Los Angeles office located at:
9777 Wilshire Blvd.
Unit 718
Beverly Hills, CA 90212
We aim to provide unparalleled knowledge and expert guidance on precious metals markets and products.
Priority Gold
With over a decade of experience, Priority Gold stands as your trusted partner in wealth preservation.
Product Brand: Priority Gold
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Priority Gold
With over a decade of experience, Priority Gold stands as your trusted partner in wealth preservation.
Product Brand: Priority Gold
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