Provident Metals Review

provident metals logo
Phone Support(800) 313-3315
BCA Accredited RatingN/A
BCA ComplaintsN/A
TrustLink ReviewsN/A
IRA Transfer Process10 Days
401(K) Rollover Process21-28 Days
Metals Delivery7-10 days
Setup Fees$25
Annual Admin Fees$60+ (Scaled)
Annual Storage Fees$100+ (Scaled)
Preferred CustodianGoldstar Trust,
The Entrust Group,
American Estate & Trust,
Sterling Trust
Preferred DepositoryDelaware Depository,
Min Purchase AmountNo Minimum
Physical IRA Application
Digital IRA Application
U.S. Mint Listed Dealer
ICTA Membership
TRUSTe Verified
Norton Secured

There is one thing the recent downturn in the financial markets has shown us, and that is that the price of precious metals went up rather than down. With the market still bouncing along the bottom, that trend can only continue which is why investing in precious metals is a perfect long or short-term solution for Individual Retirement Account (IRA) investment.

If you are thinking about investing in metals, some of the metals approved for metal-grade IRAs are as follows:

  • American Gold Eagle coins
  • USA Buffalo Bullion Gold coins
  • Gold Bars .995+ Fine which have been accredited by COMEX/NYMEX

Provident MetalsWhile there are many companies that can open an IRA fund for you based on precious metal investments, Provident Metals is one that stands out from the rest due to the range of IRA products they offer. In addition, while most IRAs are not taxed on growth until disbursement, the ROTH IRA offered by this company is tax free even after disbursement since the taxes were paid on the money invested into the ROTH IRA already.

Investors under fifty years old can contribute up to $5,000 per individual ($10,000 per couple) per annum, while investors over this age can contribute $6,000 per individual ($12,000 per couple) per annum. Provident do not have either a minimum or maximum investment amount, but buyers need to be aware that amounts invested over the maximum will not be liable for IRA tax benefits.

The costs associated with a precious metal IRA are the costs of buying the metals and the setup, admin and storage fees that are charged by the trust company. Trust companies that Provident work with include the Goldstar Trust Company, The Entrust Group and American Estate and Trust.

Taking Goldstar as an example, the following is a sample of the main fees charged:

  • Establishment fee $25.00 (one-off)
  • Annual IRA Maintenance Fee $60.00 (minimum)
  • Annual Storage Fee $100.00 (minimum)

As an online only precious metals broker established since 2008. The company has a large selection of investment metals at extremely competitive prices, shipping costs and insurance fees. With a simple to use website and generous discounts although there is a credit card limit of $1,500 on the site.

Customer complaints are slightly below average for a Gold Trader at approximately 13 per year. All of these complaints, however, were dealt with in a fair and timely manner by the company and this is borne out by customer testimony. The company takes its reputation very seriously and this is evident not just in its good customer service, but also in the fact that it has never had any government or class actions filed against it. Anyway, investors need to be aware of the 34 complaints filed against the company for the last 3 years though.

With a range of products across a broad spectrum of precious metals including Gold and Silver, Provident is certainly worth considering as part of your overall investment strategy. Yet in terms of gold IRA investment, there are even better companies with expertise available which are listed in our top recommended firms. Find out more about the top 10 list we have on our website.

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Provident Metals Contacts

Phone Support: (800) 313-3315
Address: 15850 Dallas Parkway, Dallas, TX 75248