Disclaimer: We are reader supported. We may be compensated from the links in this post, if you use products or services based on our expert recommendations. Please read our Advertising Disclosure.
Founded in 1996 by Joe Jaquint, Patriot Trading Group offers precious metals trading, specializing in gold and silver.
Initially known as All American Gold, the company rebranded in 2009 when Jaquint purchased the shares of his then-partner, Eric Cedarstrom.
Jaquint located the headquarters for the firm in Phoenix, AZ when he founded the firm. While that location retains its headquarters designation, the Patriot Trading Group opened a satellite office in Johnstown, CO in January 2019.
Before we get started with this review:
We understand how difficult it is to pick a company that you can trust with your hard earned savings. That's why we create informative and useful information to give you as much knowledge as possible to make the right decision.
We created a list of our highest recommended investment companies, to make comparing and choosing the company best suited to your needs as easy as possible.
Look to see if the Patriot Trading Group was selected to our "highest recommendation" list this year!
Or...
Get a FREE Gold Investing Packet from our #1 recommendation by clicking the button below:
Protect Your Savings - Tax and Penalty Free!
Patriot Trading Group's Precious Metals Program
Patriot Trading Group sells and trades both gold and silver at each of its locations. Those trades include some pairings of precious metals, a concept used in cryptocurrency.
For example, the company lets its customers trade palladium for gold or gold for silver. It also offers a unique precious metals investing program that creates a pool of money to invest in gold and silver. The investor decides how much to invest each month.
Typical options include $100, $1,000, or $10,000. Patriot Trading Group deducts the pre-set monthly amount from the investor's credit card on file. Pooling the money makes the PTG account a high-net-worth buyer.
Each quarter, the company purchases hard assets and distributes them to its investment clients. The program charges no set-up fees, cancelation fees, portfolio review fees, or management fees.
This method enables investors of all incomes to enter an investment area that traditionally belonged to the vast wealthy.
Because the investor sets the monthly amount, they can build their portfolio a little bit at a time no matter what their monthly income is.
By distributing the metals directly to each buyer, the Patriot Trading Group puts each investor's wealth in its own hands. The investor chooses whether their investment delivery comes in the form of coins or bars.
Other Coin Options
The Patriot Trading Group offers a limited coins inventory. The selection consists of numismatic coins in gold and silver and IRA-eligible Gold American Eagle coins.
The company offers its full catalog online and any investor can purchase directly from it without a pre-existing relationship with the company.
Purchasing the Gold American Eagles for a gold IRA requires setting up a self directed precious metals IRA through Patriot Trading Group. The company uses GoldStar Trust Company as its custodial services provider.
GoldStar uses the Delaware Depository as its preferred vault storage provider.
Investment Consultations
While many larger companies offer customer contact lines with sales associates, at Patriot Trading Group, you can make an appointment to meet with its founder, Joe Jaquint, in person.
The company also offers telephone consultations with knowledgeable sales associates, but Patriot offers meetings with its president and founder.
The company's website promises valuable insight from the CEO in these one-on-one meetings. It also offers insight and education through many other avenues.
These include a weekly podcast, a blog, a YouTube channel, and a live radio program. Patriot leads the way in consumer education regarding precious metals investing.
Special Features of the Patriot Trading Group
Many programs offer precious metals programs and gold IRAs, but few do so using the business processes that Patriot Trading Group does. The company respects its client's privacy and bans cold calling amongst its staff.
The highlights of its most valuable features include:
Today, all companies must adhere to certain privacy rules, but at Patriot, it didn't take the passage of GDPR or the Can Spam Act to get the company to enforce strict privacy rules.
It always used strict controls over how a company representative contacts clients or potential clients. In its 26 years of doing business, no client has complained about the firm's privacy practices.
Red Flags for Patriot Trading Group
After checking out the company on numerous consumer websites, no red flags arose regarding the actual company. In its 26 years of business, the Patriot Trading Group has not had any trouble with its investors or with other trading groups.
It earned a reputation as a privacy-respecting company specializing in gold and silver coin investing.
Although that program delivers gold and silver directly to the investor, Patriot Trading Group can't do that with gold purchased through a gold individual retirement account (IRA).
The Internal Revenue Service (IRS) has specific rules for the establishment and management of gold IRAs. A gold IRA must use an agent to purchase the gold, which must be stored in a facility meeting specific safety measures.
Patriot Trading Company chose GoldStar Trust Company as the purveyor of its custodial services. Happy State Bank & Trust Company, a Division of Centennial Bank, established GoldStar as a subsidiary in 1989.
Established in 1908, the bank that owns GoldStar Trust Company has a longstanding business that has operated from the same location for more than a century - Amarillo, TX.
The bank that manages the gold IRAs for Patriot Trading Group earned an “A-“ from the BBB. They've had 15 complaints during the past three years, but not about the services provided through GoldStar Trust Company.
While not exactly a red flag, don't expect Patriot Trading Group-level customer service from the company it uses for gold IRA management.
The Other Patriot Trading Group Raises a Red Flag
Some members of the Cedarstrom family didn't make a clean break from the company when Jaquint bought out Eric Cedarstrom.
A family member of the late Eric Cedarstrom, Lori Cedarstrom founded a gold, silver, platinum, and palladium business also using the name Patriot Trading Group.
According to its website, the late Eric Cedarstrom founded the business, and his family continues to own and operate it. Those statements conflict with information on the BBB, Yelp, and GoldStar Trust Company.
According to the second PTG website, you can buy and sell all four precious metals through its website and do with them whatever you like.
According to the second Patriot Trading Group site, “We do not store gold for private clients. Where you store your gold is up to you.”
This other website further directs investors to “Call 480-419-9927 Get your lock-in trade number” and does not offer online sales.
The second Patriot Trading Group website lists three “Portfolio Consultant Specialist” staff - Lori Cedarstrom, Wendy Green, Ericka Pinkerton. It provides an email address for each – one with AOL and two with Gmail.
Buyer beware. This is very fishy and highly unusual. Only shop the real Patriot Trading Group website which the US Better Business Bureau links to from its website and is accredited.
Is Patriot Trading Group a Scam?
No, the real Patriot Trading Group, also known as Patriot Trading Metals Group, LLC, does not scam its customers, according to the Better Business Bureau. Although in business for 26 years, the company only became BBB accredited in 2014.
Customers can report on any business though, whether accredited or unaccredited and none have ever complained about or reviewed Patriot Trading Group. It established its BBB file on January 19, 2004. The company maintains an “A+” rating on the BBB.
Its BBB profile provides multiple methods of direct contact. The consumer organization offers two phone numbers and a fax number for Patriot Trading Group, plus an email contact form and website.
The firm's Yelp profile reveals a five-star rating. According to the Yelp information, Patriot Trading Group also offers appraisal services.
While many organizations take an e-commerce approach to business, Patriot operates its Arizona business office using normal business hours. It opens at 8 am and closes at 4 pm, Mondays through Fridays.
Closed on the weekends, investors can still make online purchases on Saturday and Sunday. Investors can visit the Patriot Trading Group at 2010 West Parkside Lane, Phoenix, AZ 85027. Reach them by phone by calling (623) 780-3117.
One of the company's clients, Sierra J. says in her review, “I would highly recommend buying gold from him than any other gold dealer. He's honest and trustworthy, to say the least.”
Pros and Cons
Pros
Cons
Final Verdict on the Patriot Trading Group
Patriot offers a unique opportunity for investors just starting. It creates products accessible to individuals at all income levels.
Whether you can afford $100 per month or $10,000 or more a month, the experienced gold trader offers an option.
Although its coin selection remains small, it offers reliable investments and delivers its coins and bars on time.
It's an impressive fact that in 16 years of business, not one customer has lodged a complaint or posted a bad review of the company.
In today's world, a company or individual with imitators typically signals a high-quality company or individual.
That doesn't make the imitator any good though, so stick with the real Patriot Trading Group if you decide to invest in gold or silver.
While we think that Patriot Trading Group is an ok company, they are not a scam, but they are also not the best if you're looking for a gold dealer to invest in precious metals or to set up an IRA with them, there are much better options for investors.
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 Investing Companies. <<
Or, if you like what you have read about Patriot Trading Group, you can go to there 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.
