In this United Gold Direct review, we investigate their business, their offerings, what we liked, what we didn’t like and whether we recommend them when investing in gold and silver.
Who is United Gold Direct?
United Gold Direct serves all 50 states and is a nationally acclaimed leader in the precious metals industry. The corporate office is located in Westlake Village, California, a state that has had a long love and history for gold, going back to the days of Sutter’s Mill and the “Gold Rush” days of glory.
What I Learned From United Gold Direct?
The agent said the first thing to do is to make a smart decision by investing in precious metals. He mentioned that timing is important, and that now is a great time to convert volatile stocks into tangible assets. He also said that the process would only take 1 to 3 weeks, depending on who the current IRA custodian is.
All paperwork is taken care of in-house, and clients have online access, plus quarterly reports and personalized service is just a phone call away. The agent said United Gold Direct has been in business since 1996, has no complaints on file, and is a respected firm in the precious metals IRA business. However, when a company look-up was done with the California Secretary of State, the records showed the company was founded in 2009, not 1996.
United Gold Direct does not use scare tactics or push people to invest, but the agent advised me to keep tabs on the news, especially now with a US economic crash at hand. The transactions with the company are transparent and there are no hidden fees.
All employees are salary-based, which eliminates commissions and allows for complete visibility with pricing. The agent advised me to thoroughly check out any company I was interested in working with and offered to give me references for United Gold Direct.
He warned me to be careful of scams. “There are hundreds of precious metals dealers now,” he said, “many fly-by-nights due to economic instability, so watch out.” The agent wanted me to understand that he could not offer me anything but physical assets, no gold or silver stock.
As one of only three approved wholesalers in the US, United Gold Direct’s prices are low due to small overhead.
According to the agent, United Gold Direct does not advertise, so it can keep operating costs low. Most of their business comes from referrals. However, a quick Google search showed their advertisements in the paid section, which brought up the second instance where I questioned the agent’s truthfulness.
United Gold Direct – Gold IRA Fees
|Initial Setup Fees||$75+|
|Annual Admin Fees||$95|
|Annual Storage Fees||$100 – $250 (Scaled Rate)|
|Minimum Purchase Amount||$5,000|
|Preferred Depository||Delaware Depository|
Rankings, Complaints & Customer Reviews
Better Business Bureau
Based on the Better Business Bureau website, the company is rated an A+, which is an excellent rating. It has been a BBB-accredited business since October 26, 2009 with no complaints filed within the last 12 months.
Business Consumer Alliance
There are no reviews or ratings from the BCA which is rather strange since United Gold Direct has been operating for a number of years.
|Based on 18 reviews|
There have been 18 reviews posted on TrustLink by clients based on their experience with United Gold Direct. These were mostly positive reviews, which has resulted in a 5-star rating of the company.
There have been a few complaints filed at Ripoff Report for United Gold Direct. The complaints were focused on not receiving their shipment promptly and being charged up to 70% higher than the competition.
Conclusion – Final Thoughts
Since 2006, United Gold Direct has provided its clients with satisfaction in terms of quality service, low prices and a website that is informative. However, there are some issues about the company that can be a source of doubt for potential investors.
There is a lack of trust and credibility, given that the agent made untrue statements. Furthermore, the complaints posted on Ripoff Report back up this claim.
The other issue is that although the company is an approved wholesaler of gold, their storage fees are scaled, which can be very costly over the long term. As your account value increases so does your storage fees which defeats the purpose of investing in gold.
|Bottom Line: United Gold Direct has good reviews, low prices, and knowledgeable reps. However, the two issues with the agent appearing to make false claims gave it a lower overall ranking.|
Which Company Do I Recommend?
After a long search and many months of research, I decided to go with Goldco. Its credible business practices and affordable fees help beginners in the world of gold investing.
Goldco has a perfect track record with the BBB, BCA and a 5-star rating on TrustLink. Additionally, they charge a flat storage fee of $100 per year, which is the lowest I’ve found anywhere.
For a full report on Goldco, check out this review.
With all of these positive aspects about the company, there is no doubt that Goldco is worth choosing over the competitors. If you’re interested in protecting your retirement by opening up a gold IRA, visit Goldco or Call 1-877-589-1223.
- Editor Rating
- Rated 3 stars
- United Gold Direct
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