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Find the Best Way to Invest in Gold in Richmond, VA

Investors like using gold assets to diversify their portfolios because of its low depreciation risk. In Richmond, gold investment options include coins, bullion, IRAs and ETFs. The Richmond Times-Dispatch has partnered with ConsumerAffairs to create this guide by comparing the reviews and availability of more than 40 businesses and choosing 13 favorites from the top gold investment companies in Richmond.

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Compare Richmond Gold Investment Companies

Gold and other precious metal IRAs are an investment and carry risk. Consumers should be alert to claims that customers can make a lot of money in these or any investment with little risk. As with any investment, you can lose money and past performance is not a guarantee of future performance results. Consumers should also obtain a clear understanding of the fees associated with any investment before agreeing to invest.

How to invest in gold in Richmond

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There are multiple ways of investing in gold, including individual retirement accounts, bullion, futures and electronically traded funds. Each opportunity provides different advantages:

  • Gold IRAs: This type of retirement account uses precious metals as an asset. You can convert a traditional retirement account, such as a 401(k), into a gold IRA through a process known as a rollover.
  • Gold bars: You can invest in gold bars, sometimes called bullion or ingots, to store at home or in an IRA. The value of each bar is determined by the spot price for its weight.
  • Gold futures: Gold futures require the owner to buy a quantity of gold at a set rate in the future. Investors use futures contracts to determine and minimize the risk of such investments.
  • Gold ETFs: Gold exchange-traded funds offer investors the ability to monitor the price of gold and bypass the need for asset storage and insurance. This investment option is ideal for those looking for flexible opportunities with gold.

Richmond gold investment FAQ

Are there taxes on buying gold and silver bullion in Virginia?

Yes, the tax on gold and silver bullion in Virginia ranges from 5.3% to 6%.

How does a gold IRA work?

Gold IRAs need a broker and custodian to help you acquire the right amount of gold or other precious metal for your portfolio. After paying the required fees, your investment team manages your portfolio and provides advice on other investments and opportunities.

Can I hold physical gold in my IRA?

Yes, you hold physical gold in your IRA if it is stored in an IRS-approved depository.

Can I store my gold IRA at home?

No, you can’t store the gold for your IRA at home.

Is gold a good retirement investment for Richmond residents?

Gold can be a good retirement investment for those looking to diversify an already established investment portfolio. If you feel more secure with physical assets than digital or paper assets, gold is a smart investment opportunity. We recommend consulting a financial advisor to determine if adding gold to your retirement plan should help you meet your goals.

Richmond gold investment company information

Red Rock Secured

Red Rock Secured is an L.A.-area wholesaler of gold, silver, platinum and palladium for IRAs. You can have metals purchased for your IRA sent to a private depository or delivered to your home, although the latter option is subject to federal rules. All transactions are based on spot market pricing. Further fee details are not available, but its precious metal experts are available for no-obligation phone consultations.

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Patriot Gold

Patriot Gold provides gold IRAs and gold assets to interested investors. Services such as secure vault storage, home storage and gold IRA rollovers are also available. Patriot Gold waives its $180 annual fee for gold and silver IRAs over $100,000.

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Orion Metal Exchange

Orion Metal Exchange is based in Southern California and specializes in gold IRAs. Orion recommends that its customers do not store metals at home and instead points them to private, nongovernmental depositories. Storage fees vary, but if you meet account value thresholds, you can qualify for free storage promotions. Orion Metal Exchange representatives are available to give precious metal investment advice via complimentary phone calls.

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Monetary Gold

Monetary Gold has offered gold IRA investment guidance and services to consumers since 2000. Depository storage is handled through a private, nongovernmental storage facility in Delaware, which may provide some tax advantages. Storage and insurance fees are about 0.1% of your investment at the time of publishing, with a $100 minimum. Clients who choose physical delivery pay a flat fee of $30 for shipping. Experts are available by phone to provide precious metal investment guidance.

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Oxford Gold

Oxford Gold Group is a gold and precious metals firm based in Southern California. Its gold IRAs have annual maintenance fees of $175 or $225, depending on whether the account is valued above or below $100,000. Oxford Gold arranges all IRA metal storage at insured, third-party facilities in Wilmington, DE, and Salt Lake City, UT. Home delivery isn’t available. Precious metal investment advice is available at no cost, though.

Oxford Gold

Advantage Gold

Advantage Gold offers precious metals IRA rollovers where you convert traditional retirement accounts into physical assets such as gold, silver and other precious metals. Its annual fee for an IRA is $100, plus a $75 custodian fee. The company also offers a wide range of investment resources for those interested in learning more about gold investing.

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Augusta Precious Metals

Augusta Precious Metals, headquartered in Beverly Hills, CA, has been offering gold and silver investments for nearly a decade. Its prices are based on spot market value. Gold IRA customers pay a one-time $50 application charge and an additional $180 annually in custodial and storage fees. Investment advisors are available during business hours. Gold IRAs have a $50,000 minimum purchase amount, but cash purchases have a $25,000 minimum.

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Noble Gold Investments

Noble Gold Investments provides a multitude of opportunities for investors looking for financial stability and tangible assets. The company offers rare coins, precious metal coins and precious metal IRAs. Its lead advisors each boast over 20 years of experience in the industry. There’s an $80 annual fee for IRAs, plus a $150 yearly fee for storage in Texas or Delaware.

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Lear Capital

Lear Capital has helped clients with gold and precious metal IRA rollovers and the acquisition of gold assets since 1997. Potential customers can look up the cost of gold coins and other precious metals directly on Lear Capital’s website.

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VA Pawn

VA Pawn is a pawn shop offering everything from electronics to rare gold coins. The shop is licensed, insured and bonded, and it’s ready to appraise your collection. VA Pawn is located at 5300 Hull Street Road, Richmond, VA 23224.

VA Pawn

Capital City Coins & Currency

Capital Coins & Currency has served Richmond for over two decades. This coin collector and investor company is owned by the only active Professional Numismatists Guild member. Its collection contains both foreign and domestic coins. Capital City Coins & Currency is located at 8801 Patterson Ave., Richmond, VA 23229.

Capital City Coins & Currency

The Gold Prospector

The Gold Prospector buys and sells rare coins, gold and jewelry. Its on-site appraisers are available to answer any questions you may have about a rare coin. Before visiting the shop, customers can also look up the approximate value of a coin on the company’s website. The Gold Prospector is located at 3612 Mechanicsville Turnpike, Richmond, VA 23223.

The Gold Prospector

Liberty Coins

Liberty Coins provides customers with services like liquidations, collection appraisals, and coin and bullion sales. The store has been in business since 1985, and it also participates in a variety of coin shows across the nation. Liberty Coins is located at 1125 N. Gaskins Road, Ste. 200, Richmond, VA 23238.

Liberty Coins