Even if you already have an individual retirement account (IRA), you can have a gold IRA.
If you want to use the funds in your existing IRA to fund your gold IRA with Noble Gold, you can do that through a process called IRA rollover.
Part of the process of IRA rollover the Internal Revenue Service (IRS) defines. Noble Gold wrote its processes according to rules set by the IRS.
In this article, we’ll consider the full process of IRA rollover with Noble Gold and lead you step-by-step through the process.
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What is Noble Gold?
The investment firm Noble Gold offers a silver IRA and a gold IRAs. Unlike other companies that offer these types of IRAs, they specialize in precious metals. These two products are all they offer.
According to the Noble Gold website, it has handled precious metal transactions for more than 20 years. According to the Better Business Bureau though, the company began in 2016.
Noble Gold promises its clients a safe, easy way to buy precious metals. It makes it the company’s mission to offer honest, friendly service while providing its clients with an in-depth understanding of how to use them to increase investment value.
Noble Gold describes its vision as one of ensuring its clients’ wealth preservation. They see themselves as an educator on precious metals and how they can benefit a retirement portfolio.
The company focuses on conveying the “importance of owning tangible assets in a rocky economy.”
Initially based in Pasadena, California, President/CEO Collin Plume founded the firm to help create truly balanced portfolios for its clients, considering balanced investments as a key to long-term investing and retirement.
The company says it puts trust first. Plume’s business processes differ from those of the majority of gold and silver investment companies.
As a part of its services to customers, the agents at Noble Gold consult certified public accountants, estate planning attorneys, and financial agents regarding the precious metals market.
This ensures they can offer a wide range of recommendations to other professionals to help their clients further their financial goals.
Services Noble Gold Offers
Although we’re ostensibly covering the gold IRA offered by Noble Gold Investments, we’ll also quickly consider the other products offered by the firm. Next, we’ll go through the step-by-step process of getting started with a rollover IRA.
Gold IRA
With a gold IRA you only pay taxes on account contributions, not on investment gains. This type of IRA also lets the owner defer paying taxes on the investments until liquidation.
A gold IRA can contain gold coins approved by the IRS or bullion bars created by an ISO 9000-approved refiner, such as NYMEX or COMEX.
The gold bar options include PAMP Suisse Lady Fortuna Gold Bars, Pamp Suisse 100gm Gold Bar, Perth Mint 10z Gold Bar, and 1 Kilo Gold Bar. Gold in an IRA gets stored in a bank repository, not your home.
Silver IRA
You only pay taxes on account contributions, not on investment gains. This type of IRA also lets the owner defer paying taxes on the investments until liquidation. Like the gold IRA, the account can only contain IRS-approved silver products.
Choose from five-ounce Highland Mint Silver Bars, 10-ounce Republic Metals Silver Bars, one-ounce Rand Refinery Silver Bars, and 100-ounce Republic Metals Silver Bar, or any IRS-approved silver coin.
Silver in an IRA gets stored in a bank repository, not your home.
Choose from four-ounce weights of the US 1986 American Gold Eagle gold bullion coin, American Gold Eagle Proof Coins, Canadian Gold Maple Leaf Coins, Australian Gold Kangaroo Coins, 4 Piece Set American Gold Eagle Proof Coins, or Austrian Gold Philharmonic Coins.
These ship to your home and you store them as you like unless you add them to an IRA instead of a private collection.
The firm offers US quarter dollar America the Beautiful Silver Bullion Coins, one ounce American Silver Eagle Coins, first minted in the US in 1986, and one ounce Canadian Silver Maple Leaf Coins.
The IRS also approved Australian coins including the legal tender one-ounce Silver Kangaroo coin and the Perth Mint's one kilogram.
Noble Gold also offers the IRS-approved one-ounce Austrian Silver Philharmonic Coin and the Highland Mint's one-ounce Silver Round. It also offers so-called junk coins that lack numismatic value but contain silver in amounts of 30 to 90 percent.
These also ship to your home and you store them as you like unless you add them to an IRA instead of a private collection.
Clients can purchase American Platinum Eagle Coins, one-ounce Canadian Platinum Maple Leaf, or Baird & Co Platinum Bars in one ounce or 10 ounces to add to their private collections.
These ship to your home and you store them as you like.
Noble Gold offers only two palladium products - the single-ounce Canadian Palladium Maple Leaf Coin, minted from 2005 to 2007, in 2009, and from 2015 to present, and single-ounce Credit Suisse Palladium Bars.
These ship to your home and you store them as you like unless you add them to an IRA instead of a private collection.
The rare coins available vary over time. Currently, Noble Gold offers three options. Customers can purchase a four-piece American Indian head and St. Gauden set (MS63) of coins that offers a glimpse into the early 1900s in the USA.
The investment firm also sells 1854 Kellogg $20 coins (AU53) and uncirculated Morgan Silver Dollars (NGC MS68) issued in 1879 and 1881.
How To Rollover an Existing IRA to a Noble Gold IRA
Before you make any other activities regarding your existing IRA, fill out the appropriate paperwork with Noble Gold. The company provides step-by-step instructions on its support pages.
Step One: Complete the online IRA setup form on the Noble Gold website.
Although simple, it may ask for information you don’t know offhand. You can look up this information to complete the form or leave it blank and wait for a follow-up call from Noble Gold.
If you do have all of the information handy, it should take five minutes to complete.
Step Two: The Noble Gold team contacts you within 24 hours.
The contact will be your new account custodian, who will set up your account for you. At this time, the account representative apprises you of any additional paperwork required.
Step Three: The custodian emails you the self-directed IRA account number. Keep this for your records.
Step Four: Since you’ve chosen to roll over your existing IRA into a gold IRA with Noble Gold, you won’t need to provide bank funding information. Instead, you’ll need to close out your existing account, then forward the check to Noble Gold.
The term rollover refers to the process in which you close one IRA, take receipt of the funds, and reinvest them within 60 days in a new retirement plan. You must open the new account before the 60-day period ends to avoid tax penalties.
Step Five: Noble Gold funds your gold IRA with the proceeds check you provided. As long as you get the check to us, you won’t incur a penalty.
Step Six: Noble Gold purchases your gold and physically segregates it in a secure, private depository vault. If you also purchase silver from us, those metals go into separate storage. The IRS does not allow mixing metals in storage.
Step Seven: When you request the distribution of your gold, the company will ship your tangible assets to your home. Alternatively, you can sell back your gold to Noble Gold through its buyback program. You choose how to obtain your assets.
Can You Trust Noble Gold?
According to all of the consumer watchdog websites, Noble Gold offers a trustworthy business. Its tiny amount of complaints on the BBB website coupled with its large number of positive reviews from actual customers shows its veracity.
The BBB does not publish the three complaints. Complainants can elect to not make their comments public. The BBB respects that choice.
Whether positive or negative, the company responds to nearly every review or complaint. It posts these responses quickly and in a well-written manner.
Pros and Cons of Noble Gold's IRA
On the side of the pros of using Noble Gold, this company offers trustworthy transactions and two useful products. It has built a positive record of investing for its clients during its six years in business.
On the cons side of Noble Gold, the company has not been in business for long. It does have a flurry of recent complaints. The fact that all three complaints came in the last three years of service, two in 12 months, indicates the potential for a problem.
The Review Process
We want to provide you with the best quality reviews, so you won’t find information from other reviews here.
Instead, we carefully read the website of Noble Gold for our information on their gold IRA and how to roll over your existing IRA to a gold IRA with them.
Our ratings, complaints, and customer reviews information come straight from the Better Business Bureau website. The quoted reviews come directly from the BBB website, as well.
We also draw from the company’s Yelp profile and reviews, and those from its Google My Business.
We completed this same process for other companies that offer gold IRAs, so please read our Top Gold IRA companies list and each review before deciding where to invest. Take care in choosing your gold IRA, so you maximize your investment.
Noble Gold IRA Ratings and Complaints
Noble Gold comes highly rated by its clients across the many review sites the Internet offers. It earned an A+ rating from the Better Business Bureau (BBB), a score calculated by the BBB. The company also earned BBB Accreditation.
The Noble Gold BBB account opened on August 19, 2016, and it became a BBB-accredited business on January 23, 2017.
As mentioned, the BBB reports that Plume established the business six years ago, providing a date of May 14, 2016. Noble Gold was incorporated ten days later, on May 24, 2016.
The BBB allows customer reviews and shows that Noble Gold’s customers love doing business with the company. It has earned a rating of 4.98 out of a possible 5 stars based on 44 customer reviews.
The company has had three complaints during the time the BBB has maintained an account of them. It addressed each complaint quickly and to the satisfaction of the client and BBB. Two of those complaints occurred during the last 12 months.
According to the BBB website, Noble Gold maintains offices in Encino, California. It’s registered as a Limited Liability Company (LLC) and employs 29 individuals. It maintains two alternate business names, doing business as (DBA) Noble Gold and Golden Bull, LLC.
Open for business Monday through Thursday to 6 pm, Fridays from 6:30 am to 5 pm, and Saturdays from 8 am to 1 pm, the company offers phone service and email contact. The company closes on Sundays.
Turning to the consumer-driven websites for other reviews and ratings, we found that Noble Gold earned a perfect rating of five on Yelp, but they only have one review at this time. It’s a shining one.
While few clients have found the company’s Yelp listing, they flock to the company’s Google My Business (GMB). On GMB, the company has 308 reviews and a rating of 4.9 out of a possible 5.
This website offers the most information, directly from clients. Let’s explore both sides of the ratings, looking at why so many people offer five-star ratings of this company and a handful offer ratings of one.
Many of the company’s clients love their willingness to explain the products, and the IRA rollover process and to help with the paperwork. For example, company clients S. Chapee and Jessica Michelle Kemp describe how Noble Gold’s communication style can function as an asset or a liability depending on the customer.
Conversely, during the same time of the past two months, customer Scott Burns reports making a 401K purchase and having a month pass with his account still showing a zero balance.
Noble Gold client Timothy Kim could not obtain adequate documentation of his purchases since no invoice the company provided offered a line item accounting of its fees.
Conclusion
You could look at its two products, a silver IRA and a gold IRA, as limited options or as specialization.
You choose the perspective. Other companies do offer other precious metals products in addition to IRAs, but Noble Gold offers a higher level of knowledge in precious metals IRAs.
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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.
