July 11, 2023

Monetary Gold Review - A reputable Gold and Silver IRA Dealer.

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Monetary Gold is a precious metals dealer that sells gold, silver, and platinum coins and bars for home storage and for those wishing to use retirement saving through a self-directed IRA account. 

Founded in July of 2000, the intended business of Monetary Gold is to help clients "protect and preserve their acquired wealth and safeguard their future". 

Monetary Gold offers the sale of precious metals for home storage or they can walk you through opening a new self-directed precious metals IRA and rolling over retirement funds from a current 401(k) or existing Traditional or Roth IRA. 

How to Get in Touch With Monetary Gold:

Office Hours: Monday - Thursday 6 am - 4:30 pm / Friday 6 am - 2 pm all times PST

Office Location: 21800 Oxnard Stree #1120 Woodland Hills, CA 91367

Call: 888-411-4653

Company Rating Summary

Monetary Gold scores are high for an overall Gold Dealer Rating. They have several positive reviews on multiple review sites and only 2 complaints through the BBB in the past 3 years. Their limited number of reviews on sites such as the BBB, BCA, Yelp, and Trustpilot is a little concerning. Not that they are positive or negative, just there appear to be few for the number of years they have been in business. 

Overall Rating: 
4/5 stars


Educational Resources

BBB Complaints

Overall REview Sites Ratings

Product Offering

Before we get started with Monetary Gold's Review, it's tough to determine which precious metals dealer is looking out for your best interest. Many proclaim they are customer focused but push to sell private "exclusive" rounds with high premiums. 

Work with a company that wants to educate first. The Best give away knowledge and educate individuals on the benefits of precious metals in an IRA before selling any product.  Gold Dealers are not advisors and they should not tell you what metals to buy. However, the best ones are specialists for SDIRA investing and can educate you on which bullion qualify for your IRA. 

The Plug aims to provide you with as much useful information as possible regarding gold IRA dealers. We've reviewed over two dozen Gold IRA Dealers or dealer retailers who work with custodians to find the Best Gold IRA Dealers. 

Check out The Plug's list of the 5 Best Gold IRA Companies and see if Monetary Gold made the list!

Our #1 recommendation is giving away a FREE Gold Investing Kit! Get your kit for free by Clicking the Button Below:

Wealth Protection:

Protect & Secure Your IRA/401(k)

What Is Monetary Gold

Precious Metals IRA Dealer

Precious metals dealers are those companies that set up their businesses to provide the highest quality service for those looking to acquire large amounts of gold and silver as a hedge against inflation or as a store of wealth. 

Monetary Gold is no exception, they have been providing the best service and offering the highest quality bullion to their customers. 

Gold IRAs require a custodian, while Monetary Gold is not a custodian, they will provide a good option and help facilitate the process. 

If you wish to purchase precious metals for home storage or use your retirement savings, Monetary Gold has the knowledge and resources to help along the way.

Monetary Gold is a 'Direct Dealer'. That means they acquire gold, silver, platinum, and palladium directly from the source. This allows them to pass on any savings and reduce premiums. 

Monetary Gold Logo

The History

Monetary Gold was started in 2000 under the name Monetary Gold Group. They have been providing precious metals for home storage and retirement IRAs since the beginning. The Taxpayer Relief Act of 1997 provided investors an opportunity to use an SDIRA to purchase their precious metals. Monetary Gold, as a precious metals dealer, has provided individuals with the expertise and education to help make the best gold and silver choices.

The Service

Monetary Gold provides the service of facilitating Gold and Silver IRA purchases through the use of a Gold IRA or for Home Consumption and storage. You can purchase any of the following with Monetary Golds assistance:

  • Bullion - bars, rounds, and coins
  • Semi-Numismatics - certified graded coins without the high collector premiums
  • Certified-Graded Coins - full numismatics - typically graded by one of the following; Numismatics Guaranty Corporation (NGC) or Professional Coin Grading Service (PCGS).

Minimum Investment, Custodian, Depository,  and Fees

Monetary Gold provides the facilitating of opening a gold IRA and uses the following services as recommendations. 

  • Monetary Gold Minimum Investment is between $5,000-$10,000 depending on the custodian you choose
  • Gold Star Trust is Monetary Golds Recommended Custodian - but you can use any custodian of your choosing.
  • Gold Star Trust Fees: Set Up $50, Annual Maintenance $90
  • Delaware Depository is Monetary Golds Recommended Storage - but you can choose any depository.
  • Delaware Depository fees are a $30 initial flat rate charge - then it is $100 per year up to $100,000 and $1 per $1,000 dollar after that. Any storage above $150,000 has an annual fee of $150.

Investment Products

Canadian Maple Leaf Coin for IRA
collector silver proof sets

Monetary Gold provides the following precious metals investment products online: Contact a representative for current prices and availability. 

  • $20 Saint Gaudens
  • $20 Liberty
  • $10 Liberty
  • $10 Indian
  • gold British Sovereign
  • German 20 Marks
  • American Gold Eagle
  • American Silver Eagle
  • Gold Canadian Maple Leaf
  • Silver Walking Liberty Half Dollars
  • Half Franklin Dollars
  • Canadian Silver Polar Bear Coin
  • Silver American Buffalo Coin
  • Silver Austrian Philharmonic
  • Silver Britannia Coin
  • Silver Canadian Maple Leaf
  • Arctic Fox Silver Coin
  • Platinum American Eagle
  • Platinum Maple Leaf
  • Palladium Maple Leaf Coin
Goldco bank failure banner

Understanding A Gold and Silver IRA

Choosing a gold or silver IRA is about investing your retirement savings into physical metals inside a retirement account. Gold and Silver buyers, using cash from savings to purchase, have the option to take possession at home and those investing through their self-directed IRA are required to store their metals in a secured depository. 

A depository is a secured storage that is IRS approved. They account for your gold as part of larger storage in non-segregated accounts or you can choose to segregate your metals and store them separately. Either way, if you choose to use cash or an IRA you can securely store your metals at a vault or depository. 

Opening a Gold IRA:

There are Six Steps to start an SDIRA

  1. Choose a Custodian - a custodian, typically a Trust company, completes the paperwork and opens your account. There is typically a fee for opening the account, and yes, multiple fees for transfers, payouts, etc... make sure you understand the fees before making a transaction.
  2. Fund the IRA - now that the account is open you need to fund your SDIRA. There are two ways to fund. 1st, you can choose to fund using earned income yearly similar to that of other IRAs. Regulations in 2023 state that those under the age of 50 can contribute $6,500 and those over the age of 50 can contribute up to $7,500. If you are funding several IRAs, the SDIRA is subject to the same limits. 2nd, you can choose to complete a rollover. An IRA rollover involves the transfer of funds from an existing IRA or prior employer 401(k). Consult your custodian before making a transfer. ** Special note: check with your IRA or 401(k) representative and see if you are allowed 1 transfer per year or multiple. This will be important to make sure you have enough money in the SDIRA to purchase the metals necessary to diversify or hedge your portfolio.
  3. Choose Your Precious Metals Dealer - once you have your account funded you can choose a gold or silver dealer. There are several dealers online and we have some of the best reviewed right here on The Plug's website. Make sure you're dealer is knowledgeable of the IRA requirements for bullion purity and has the metals readily available to ship. 
  4. Purchase Your Metals - based on your investment plan, you can choose the metals that best fit the plan. You can choose gold, silver, platinum, and palladium. You can choose to combine multiple products of coins, rounds, and bars. Get the best overall premiums closest to the spot price of the metals. This gives you the best opportunity to see the highest investment gains. 
  5. Choose a Secured Storage Depository - when researching custodians also look at the different depository's available. You may choose one that is within proximity to your home or one based on the yearly storage fees. Storage fees vary and will depend on if the metals are segregated or non-segregated. In addition, the fees could involve the quantity of metals stored. Some facilities will charge based on the value of the precious metals. 
  6. Confirm Receipt & Monitor Account - now that you purchased your metals and had them shipped you will want to confirm receipt by the depository. Less favorable dealers will take several weeks up to several months to get metals shipped to a depository. You will want to monitor the delivery and get confirmation. When that is complete all you need to do is sit back and relax. 

There are several benefits to having a self-directed IRA for precious metals. One such benefit is you get control. If you like to analyze companies and compare, then you should look at all the different custodians and depositories and choose the one that is right for you. 

But, there is an easier way. A way in which you can work with a Gold IRA Dealer who specializes in precious metals IRAs. These companies work with preferred custodians and depositories. Having the existing relationship can streamline the process. 

Choosing a Gold IRA Dealer for IRA Account Set Up

An easier way to get your IRA account set up and funded is by working with companies like Goldco or Augusta Precious Metals. These two businesses are IRA Dealers, meaning they only work with individuals looking to invest in precious metals as a long-term investment. They assist individuals in setting up the account, educate them on how precious metals can benefit their retirement savings, and help facilitate the purchase of the metals for the IRA. 

There are other benefits to working with a Gold IRA dealer versus going on your own. They include the opportunity for FREE Silver or ZERO IRA Fees for 10 Years. Having an existing relationship with the custodian and the depository can benefit you by working with one of these two companies. 

Goldco Protect and Secure Your Retirment

Why Put Physical Gold or Silver in an IRA

Individuals choose self-directed IRAs for several reasons. We know that gold is a hedge against inflation and can stabilize your retirement savings by investing in physical metals. But why a self-directed retirement IRA? Let's explore a few key reasons a gold IRA might be right for you.

How to buy Silver in a Self-Directed IRA
  • Individual Retirement Accounts (IRAs) are a means of protecting your investment as well as your family's financial security.
  • Tax advantages including the gains from the sale of metals are tax-deferred and not subject to immediate taxation. 
  • Protect retirement savings through diversification. Traditional IRA and 401(k) retirement accounts only allow for traditional investments in stocks, bonds, mutual funds, and ETFs. An SDIRA allows you to invest in those products, but also to purchase physical assets such as gold, silver, platinum, and palladium. 
  • Growth Potential - the value of gold has only increased in perpetuity over time. If the spot price of gold has increased 300% over the last 25 years, what will it be at in 25 more?
  • Hedge Inflation - as the dollar gets printed and the dept of the U.S. increases only physical assets can potentially hedge any inflationary period. If the price of the dollar declines, historically the value of gold and silver rises. 

Pros and Cons of Monetary Gold 


  • They offer investors the option to use cash and store metals at home or invest using an SDIRA and store metals with a depository  
  • Knowledgeable & Experienced
  • Good Customer Service Reputation
  • Low minimum investment 


  • Regulatory Risks Found  
  • FDIC Demanded Monetary Gold to Cease False Advertising Campaign 
  • Limited Supply of Product to Sell
  • No online retail pricing

Customer Experience: Is Monetary Gold a Scam

BBB Logo by The Plug

Better Business Bureau (BBB)

  • A+ Accredited Business Rating
  • 33 Customer Reviews
  • 23 Years in Business
  • Accredited Since October 25, 2013
  • 2 Customer Complaints Filed in the last 3 years

The two customer complaints are not public and therefore we were not able to determined the issue. The company has been in business for 23 years but only has 33 customer reviews. That few of reviews is not typical of other Gold IRA Dealers dealing with precious metals sales. 

Two customer reviews in 2023 - they are:

Monetary Gold customer review
Monetary Gold customer review 2

Business Consumer Alliance (BCA):

As you can see the BCA has no responses, reviews, or complaints reported. For a 23 year old company in the precious metals niche that is unique. 

Monetary Gold BCA snapshot - No issues


Trustpilot is also a highly used source for reviews by consumers. There is one review on this site for Monetary Gold. One Reviewer gives the company a 1 Star Rating. 


Review from Mark Swope, Sr.

Been approx 3 months & the SCAM continues. Do not deal with this place. They’ve been floating our $$ without any product for weeks without resolving this. Also, the price quote did not match what was allegedly being sold.

Date of experience: September 09, 2021

Consumer Affairs Logo

Consumer Affairs: 

  • 69 Reviews
  • 4.9 out of 5 Star Rating


The majority of the reviews on Consumer Affairs are positive. So, we don't think it is important to let people know how satisfied 90% of the reviewers have been. We do believe reading the negative comments can help and enlighten IRA investors. Use the information to be informed.

John from Cortez, Co on June 28, 2022

I went through the entire investment process with Monetary Gold (MG) and it went great until I received my statement and realized it was 50% less than my investment. When I contacted MG they told me a line of lies as to why it was showing less and was actually worth what I paid so I asked them to sell metals, gold and Silver, and was then told that I would lose 40% of my investment if I sold now and that I should wait 4-5 years. Then I purchased the metals at retail and that they only pay wholesale when you go to sell the metals. This would mean that gold and silver prices would have to go up 40% just to break even.

When you move money from one IRA to another the value should remain the same less brokers fees and account creation fees, not 40% of your investment. Monetary Gold will take your money, they win you lose. Ask to read their RECITALS (agreement), the section on Arbitration and Confidentiality. It's designed so if you do go to Arbitration and win you are not able to share the outcome with other investors. It's a huge scam ripping off investors money and getting away with it.

Salvador from Las Vegas, NV on December 28, 2021

My wife put in a certain amount of money on Monetary Gold, but then that was not what she ended up with in the amount of gold and silver that she purchased. It was almost cut in half and she was really very upset about the whole deal. I purchased from them as well and my experience with their reps was pretty fuzzy. There were some things that could have been divulged a little bit more fee-wise and that might have affected the way we conducted business with Monetary Gold. Also, when we were looking on their website, we couldn't find the gold products that we bought at all which made us think that maybe these things weren't real.

Buyer Beware:

Physical Gold and Silver buyers are purchasing bullion and proofs for their IRA based on the retail price of the metals. The retail price includes the Spot Price + Premiums. In some cases, dealers will even add on fees including a commission or transaction fee. 

When you transfer $50,000 to an SDIRA and buy physical metals. You are not getting $50,000 of silver or gold. There is the premium and that premium could be 5% over the spot price or you could be paying upwards of 40% or more.

When you get your statement the value of your metals will be based on the current spot price. Individuals who buy metals need to be aware that they are paying a premium, which is not immediately recoverable if you choose to sell or flip your coins. IRA Dealers will recommend a hold between 5 and 10 years to recover any premiums paid. 

No precious metals dealer can guarantee that the price of metals will increase in the future. There is no way to determine future pricing. As the buyer, you need to understand precious metals investing and do your due diligence before you buy. 

Final Thoughts on Monetary Gold

Established in 2000, Monetary Gold has built a solid reputation as a trusted dealer in precious metals. Their diverse range of offerings includes gold, silver, platinum, and palladium, making them an attractive choice for investors looking to diversify their portfolios.

For those seeking to expand their investment options, Monetary Gold presents a wide selection of products worth considering. In addition to facilitating the purchase of precious metals, they also provide a convenient platform for opening gold or silver Individual Retirement Accounts (IRAs). Through their user-friendly online application process, investors can initiate their IRA set up and rely on the expertise of Monetary Gold's dedicated IRA specialists to ensure a smooth experience.

Customer satisfaction is a paramount priority for Monetary Gold, as evidenced by glowing reviews from their clientele. The company excels in delivering exceptional customer service, with its account representatives consistently earning praise for their attentiveness and dedication.

It is important to note, however, that Monetary Gold does not operate around the clock like some of its competitors in the precious metals market. While it is unlikely that urgent inquiries will arise on weekends or major holidays, it would be advantageous for the company to fulfill its claim of 24/7 client assistance, as stated on its website.

Furthermore, potential investors should be aware that product pricing is not readily available on the Monetary Gold website. In an era where numerous precious metal dealers provide real-time pricing information online, this could be seen as a limitation for certain investors.

In conclusion, Monetary Gold emerges as an outstanding company for anyone interested in acquiring physical precious metals, setting up a precious metals IRA, or both. With their established track record, diverse product range, and commitment to customer satisfaction, they offer a reliable and comprehensive solution for investors in the precious metals market.

Find out more about Monetary Gold on their website - Click Here and we'll send your over! 

Is Monetary Gold Right for You

Individuals need to complete their due diligence before making any buying decisions. While Monetary Gold is a satisfactory company, we believe there are better options and cannot recommend them at this time. 

It does not appear that the company is a scam, but there are better choices when buying precious metals for home storage or within an IRA.

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