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Gold and silver continue to be trusted forms of investment. National Gold Group often comes up as an option for customers looking to purchase physical gold or to include gold as part of their retirement plans.
This guide will take an unbiased look at the National Gold Group. It will compare them to their competitors and examine the legitimacy of their services.
In preparing this guide, every effort has been made to provide accurate information that readers can use when making serious investment decisions.
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What is National Gold Group?
National Gold Group is a company that has helped its customers get access to gold for more than 25 years. This can be in the form of physical gold delivered to their door. Or it can be in the form of gold as part of a 401(k) or IRA program.
What has set National Gold Group apart from its competition is its ability to provide 100% customer satisfaction on all its transactions. In addition to offering quality products, this organization focuses on educating clients.
People feel comfortable working with them because everything they do is transparent, their service is top-class, their pricing is competitive, and they offer actionable financial strategies.
National Gold Group has offices in Hawaii, California, and North Carolina. They describe themselves as professionals that embody conservative American family values while employing modern-day financial principles.
The brothers, who founded the company, have more than a quarter-century of hands-on experience with precious metals and finance.
A Word About the Founders
Interest in precious metals and coins has been a part of the two brother's family for generations. It started with their great-grandmother, Mary Bendina Winters, and her love for silver dollar collecting.
It continued with their grandfather, David, who founded a stamp and coin-collecting company in the 1960s. From there, their father would buy and sell gold. Sometimes, the entire family would sort through bags of silver dollars, looking for rare dates and mints.
In addition to secular education, their father taught the brothers the importance of building wealth.
This financial education and a commitment to traditional American values created the foundation behind National Gold Group's commitment to providing superior customer service.
National Gold Group's Company Mission
The mission of the National Gold Group is to help Americans grow and diversify wealth for generations.
They claim to do this by providing education on precious metals while showing a balanced perspective on why metals are a great way to grow a financial legacy.
Additionally, the company supports charitable organizations, including The Wounded Warrior Project, Sustainable Coastlines, Kaiwi Coast Run & Walk, and The Ronald McDonald House.
Pricing and Fees
The National Gold Group sells platinum, gold, silver, and palladium, all of which are IRS-approved metals. They require a minimum investment of $10,000. The application to start a precious metal IRA is relatively quick.
The process can begin online, and a quick phone call is required to complete the application. When the application is complete, the account must be funded with a minimum of $10,000.
From there, the group's advisors help clients choose the precious metals to put in their IRA.
While IRS regulations require precious metals that are part of an IRA to be stored at an approved depository, the National Gold Group also sends collectible metals to their customers' homes.
In addition to the initial deposit of $10,000, customers will need to pay an annual fee of $99. However, if a customer deposits between $25,000 and $99,999.99, the fees are waived for the first year.
Deposits of $100,000 or more result in fees being waived for five years. This waving of fees does not apply if a customer purchases bars of precious metal.
With a precious metal IRA, a person may be required to pay a custodian fee. This fee will vary based on the chosen custodian and how their fee structure is set up.
While the National Gold Group's website does not have a lot of information about their custodian fees, their representatives are easy to contact. They can answer any questions customers have.
Additionally, the website needs more information on the process and fees for liquidating holdings. When setting up an account, it is best to talk to a company representative about any transaction fees or commissions on buybacks.
Available Precious Metal IRA Products and Services
The company's primary offering is precious metal IRAs. They offer gold IRAs, silver IRAs, palladium IRAs, platinum IRAs, precious metal IRAs, and physical gold IRAs.
A precious metal IRA can hold one of the above precious metals or a combination of them as part of a qualified retirement plan. Precious metal IRAs allow customers to make annual contributions.
Precious metals can be moved to other custodians or can be sold. Distributions can be taken in kind, meaning that precious metals can be taken out of the IRA account and physically delivered to a person's home.
The National Gold Group IRA services have received mostly positive reviews from past customers.
For example, reviews on the Consumer Affairs website include comments commending company representatives for being well-informed, considering the personal concerns of customers, and providing sound investment perspectives.
Multiple customers commented on how company representatives helped them with any questions they had and with building a financial strategy going forward in precious metals.
A comment that is repeated in reviews is that the experience was straightforward, easy, and transparent. Additionally, customers commented that they never felt pressured to make purchases that were not in their financial best interests.
With precious metal IRAs, a person can:
Depending on the chosen custodian, a person could have an online account that updates constantly to show them how much their investments are worth.
Every custodian will provide regular reports about accounts and updates about any changes to their rules.
Direct Sales
Some customers want to purchase gold directly as opposed to including it in their IRA. The National Gold Group can facilitate these types of purchases.
Some of the products they offer include the following:
The American Gold Eagle coins
This official gold bullion coin is highly sought after and created by the US mint. This is one of the few recognized investment-grade gold bullion coins. The United States government regulates the quality of these coins.
The Austrian Philharmonic coin
This is an official bullion coin of Austria. It is a 24-karat or 99.99% pure gold coin. This coin is popular with investors and, like the American Gold Eagle coin, can be used for IRAs.
Gold American Buffalo coins
This is the purest gold bullion coin made by the US mint. The design dates back to 1913. Very popular with investors, this coin can also be used to fund an IRA.
The Gold Bar
Also known as the gold ingot, this is a high-quality refined metallic gold bar. They can be purchased in various weights, including grams, ounces, and kilos.
Other gold products for sale include the Canadian Gold Maple Leaf, the Australian Gold Kangaroo, the British Gold Brittania, and the St. Helena's Gold Queen's Virtues: Victory.
Silver products include:
- American Silver Eagle Bullion Coins
- American Silver Eagle Proof Coins
- Austrian Silver Philharmonic Coins
- Canadian Silver Maple Leaf Coins
- Australian Silver Koala Coins
- British Silver Brittania Coins
- Silver rounds and bars
Additionally, they offer several platinum coins, ranging from the American Platinum Eagle to the Australian Platinum Kangaroo. Customers can purchase palladium bars, the Canadian Palladium Maple Leaf, and the Palladium American Eagle.
IRS regulations do not govern purchases made with cash that are not part of an IRA. As a result, customers can have these coins sent directly to their homes. The National Gold Group will insure these packages until they arrive.
Their friendly customer service representatives can answer customers' questions about their available stock of coins.
If there are coins that a person wants to purchase but are not available, a customer representative can discuss whether or not it is possible to acquire them.
Is the National Gold Group a Scam?
No. This company is not a scam. Founded in 2021, it is relatively new on the precious metal and IRA scene. However, this company has developed a reputation for providing quality customer service and delivering on its promises.
According to the company, their representatives are also consultants. This means that if a customer knows what they want to purchase, they can go full steam ahead.
Or customers who are still learning about precious metals can work in conjunction with precious metal advisors before making a final decision.
When reviewing the National Gold Group on the Better Business Bureau, one sees that they have been accredited since November 18, 2021. They have an A rating, with five out of five stars for customer reviews.
Given the number of positive reviews about this organization from several customers on multiple sites and the fact they currently have zero complaints from customers with the Better Business Bureau, there is no reason to believe that this organization is a scam or engages in fraudulent practices.
Final Thoughts on National Gold Group
The National Gold Group has good customer reviews with almost no complaints. Their focus is precious metal IRAs, but they have experience selling precious metals directly to customers.
Although their customer representatives are available to answer questions, the lack of in-depth information about their services, depositories, and fees on their website is frustrating.
On the plus side, they have a vast inventory for customers to choose from, whether they want to purchase precious metals or include them as part of their IRA.
The National Gold Group is an ok company, they are not a scam, but we do not recommend them.
They are not the best option for individual purchases of precious metals, and certainly not the best option for investors looking to protect their savings with a gold IRA.
There are much better companies to work with that we have written about extensively on this website.
You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:
>> CLICK HERE to read our list of the Top Gold IRA Companies. <<
Or, if you like what you have read about National Gold Group, you can go to their website below:
I started BMOGAM Viewpoints as a way to compile all my views on investing in one place. I own my home, have some real estate, and own a few stocks like most people, but what really drives my interest in investing is I have a strong love of precious metals, especially gold.
