|Phone Support||(813) 482-9300|
|BCA Accredited Rating||N/A|
|IRA Transfer Process||2-4 weeks|
|401(K) Rollover Process||2-4 weeks|
|Metals Delivery||5-7 Business Days|
|Setup Fees||Depends on custodian selection|
|Annual Admin Fees||Depends on custodian selection|
|Annual Storage Fees||$180+ (Scaled)|
|Preferred Custodian||Goldstar,New Direction IRA|
|Preferred Depository||Gainesville Storage|
|Min Purchase Amount||Not Disclosed|
|Physical IRA Application|
|Digital IRA Application|
|U.S. Mint Listed Dealer|
Investing in a gold IRA is one of the best possible ways to secure your retirement, but you still have some difficult decisions to make. Among these is the choice of which gold investment company to trust with your retirement funds, as there are so many competing in this market. One of these companies is Florida-based Gainesville Coins, and you may be wondering whether they would be a good company for your retirement account.
Gainesville has been in business since the year 2000, and is best known for its very extensive selection of rare and certified silver and gold bullion coins, outclassing most of its competitors for the variety on offer. The selection includes pre-1933 US gold coins, and a wide selection of modern ones, including silver, gold and platinum Eagles. The company prides itself on stocking the most comprehensive range, both of the most popular coins and bullion, and of the rarest and hardest-to-find coins and medallions, a feature which will be valued more by collectors than by investors.
The company does also offer a program for rolling over your 401k or traditional IRA into a precious metals IRA, and their extensive stocks of coins and bullion do include a wide range of products that are eligible to be placed in a self-directed IRA. One of the distinctive features of their IRA program is that they offer segregated storage — that is, the gold you buy is kept separate, not pooled with other people’s gold — which very few other companies offer. However, rather than using one of the major depositories, they have their own storage facility — Gainesville Storage.
When you open a new precious metals IRA, you have to choose a custodian to administer your fund. Gainesville work closely with four different custodians, all well regarded — Entrust, Sterling, Goldstar, and Self-Directed IRA, Inc. You can select any of these, or use another of your own choosing.
A major area of competition among companies who provide gold IRAs is the fees they charge. There are four types of fees — initial set-up fee, annual maintenance, annual storage, and transaction fees. With Gainesville, the fees you pay depend on the custodian you choose — for example, the Goldstar charges are, respectively, $25, $60, $100 and $40. Generally, Gainesville’s charges are higher than those of many other companies.
One of the most important things you need to find out about the company dealing with your retirement fund is whether they are trustworthy, and usually a very reliable way of finding this out is through the major ratings agencies, such as the TrustLink, and BCA, or Business Consumer Alliance. Gainesville in fact has no ratings with TrustLink or BCA. Although there have been a large number of complaints — 35 — registered against them, these are all closed. Most of the complaints refer to shipping and delivery, problems with products, and customer service.
Although Gainesville Coins has a good reputation, and seems to be a reliable and trustworthy company, the main drawback for you if you are looking for a gold retirement account is that the company’s focus is clearly on bullion and coin sales, with gold IRAs being just an additional service they provide. There are in fact a number of companies who have precious metals IRAs as their primary specialism, which should ensure you receive a more expert and competent service in what is a very complex area. Before making a decision, it would be a good idea to check out some of the other companies we recommend on our site.
Gainesville Coins Commercial Video
GC Website Monthly Visitors
|Phone Support:||(813) 482-9300|
|Address:||17860 N. US Hwy 41 Lutz, FL 33549|