Morgan Gold Review
Morgan Gold has a certain philosophy when it comes to being the best gold IRA company possible: to give each client the personal service that they deserve. The issue that comes up with this organization, however, is that they actually use the same strategist as other organizations, which means there really isn’t anything about them that is unique or special. Their bet is that physical precious metals will split from paper assets as “some point in time” and are asking you to come along for the gamble. Is it worth the risk?
How Much Does It Cost To Start a Gold IRA?
At Morgan Gold, what you’re rolling your IRA into is a self-directed IRA. This means you’ll get full control of the purchasing process to decide what investments to make, but you’ll also be utilizing Morgan Gold as a middleman for the process. That means you’ll be paying them transaction fees for each transfer fee you initiate in addition to any storage or maintenance fees that will be required by your custodian.
What Precious Metals Are Offered For Sale?
At Morgan Gold, because you’re creating a self-directed IRA, you have the full power to add whatever resources you wish into your retirement account. As long as the precious metals are included as part of a legal investment by the IRS, you are free to choose your own metals dealer and pay the price that you negotiate. You would then empowered Morgan Gold to finalize the transaction for you and send your IRA gold to your custodian.
What Is the Buying and Selling Process?
All of the power in this relationship lies with you when it comes to buying and selling. You must secure the metals trading relationship. You must negotiate the price for the gold coins, silver bullion, or other preferred precious metals that you wish to add to your gold IRA. Once you’ve completed the purchase, you must then pay the transaction fee to have Morgan Gold complete the process, whether you are buying or selling. This gives you much more control, but may mean you end up paying more in fees and a higher spread.
What Is the Timeframe That Can Be Expected?
In relationships such as these, each party who is apart of the transaction has the ability to cancel it within 10 business days of it being initiated. That means you’ll need to wait at least that long for your order just to be processed. You’ll also have whatever waiting times are associated with your preferred metals dealer, plus the actual shipping time to yourself or to your custodian. It is not unusual for a typical transaction to take at least 25 business days from start to finish.
Is Morgan Gold the Right Gold IRA Company To Use?
When it comes to self-directed IRAs, it is nice to have a lot more control over the purchasing process, but that also means more responsibility. There are no guarantees unless you negotiate the guarantee on your own. This can give people more security when dealing with gold IRA companies, but it doesn’t provide much help. That’s why our preference is to work with a company like Regal Assets
. When you know everything ahead of time, the whole process is that much easier.