Investing in precious metals has helped many people to bring in lucrative returns on their investments. So, if you also want to benefit from the precious metal industry, then you need a gold IRA.
Opening a gold IRA come with incredible benefits while keeping your wealth safe from inflation. But, it is vital to choose the right company to do business with in the precious metal industry. And if you’re looking for a company that can help, here is a comprehensive review of Orion Metal Exchange.
About Orion Metal Exchange
Orion Metal Exchange is a top-notch company rated as one of the best service providers in the precious metal industry by Retirement Living in 2020. The company's CEO Jacob Blalock praised his team for the recognition by Retirement Living.
It is a one-stop solution for anyone who wants to buy gold, silver, palladium, and platinum coins or bars. Besides precious metals, the company also offers IRAs for gold and silver.
Orion Metal Exchange is very popular among its customers, as it has a five-star rating on various platforms, including TrustPilot. Moreover, Consumer Affairs recognized Orion Metal Exchange as the top company for gold IRA in 2017 and 2018.
With more than 5 decades of experience in the precious metal industry, Orion Metal Exchange aims to assist investors in finding the best investment options. So, if you want to diversify your portfolio and mitigate the impact of high-risk investments, you can consult Orion Metal Exchange.
Working with Orion Metal Exchange means you won't have to pay any set-up fees or charges for an IRA transfer. You can also choose any one of the storage options that Orion Metal Exchange offers to its customers.
Orion Metal Exchange Company History and Background
Jacob Blalock started the company in 2017. Despite being in the industry for less time, it has achieved great success in the last few years. Orion Metal Exchange has its headquarters in Los Angeles, California, US, and has experts with more than 50 years of experience.
The company has a satisfied clientele, who have been very vocal with their positive reviews and feedback throughout various online platforms. Orion Metal Exchange is famous for the wide range of services it offers to meet investors' needs:
- Accredited IRA account set-up
- Investor education
- Liquidation
- Sales and customer support
- Storage for secure precious metals
Another notable thing about Orion Metal Exchange is that it offers services to people outside the US. Orion Metal Exchange will assign an account agent to its investors, who will work closely with clients. These agents will guide investors at each stage of the investment process.
You can ask any questions you might have about investing in precious metals. Their agents can help you pick suitable metals that have a chance of growing over time. Moreover, the agent will keep you up-to-date about new developments in the market or the economic situations that can affect your portfolio.
Most people choose Orion Metal Exchange because of its flexibility. You can easily roll your current retirement accounts into gold IRAs and invest in precious metals.
Orion Metal Exchange has validations and associations with various agencies, including the Professional Coin Grading Service (PCGS). The company also follows the standards and criteria the Numismatic Guaranty Corporation (NGC) and Industry Council for Tangible Assets (ICTA) has set.
These factors make Orion Metal Exchange a company worth considering if you want to invest in the precious metals. You can avail their services to invest in products that can help you create a healthy portfolio.
Orion Metal Exchange Products & Services Offerings
Orion Metal Exchange provides its clients with different products and services. You can use their storage services to keep your coins, bullion, and bars. Partnering with Orion Metal Exchange offers a variety of benefits, such as:
- A dedicated account agent who can assist you with your needs
- Complete information about the changing market conditions and the economic events that affect your portfolio.
- Generous buyback policy
- Safe, quick, and insured delivery options for Orion Metal Exchange coins and bars
Along with these benefits, you can also set up a gold IRA with Orion Metal Exchange. Let's dive into the specifics of opening a gold IRA with this company.
Orion Metal Exchange Gold IRA
What is a Gold IRA?
A gold IRA is similar to the traditional Individual Retirement Account, with the only difference being that these companies back their assets with gold. The investors of a gold IRA will enjoy the same tax benefits and exemptions that come with more traditional ones.
Apart from gold, investors can use other valuable assets, such as silver, platinum, etc., in an IRA. The precious metals in an IRA will go into a safe storage facility. According to the rules that the IRS have set, gold IRA holders will need to entrust a custodian.
The custodian can be a bank or a brokerage firm which will safely store these physical assets. A vital thing to note is that the custodians need to adhere to the IRS guidelines. Orion Metal Exchange is known as one of the top custodians of gold IRAs in the country.
How Orion Metal Exchange Gold IRA works?
Orion Metal Exchange allows you to hold physical assets like gold bars, coins, bullions, etc., in your account. It will also help you store other precious metals, like palladium, silver, and platinum.
You will get complete guidance for setting up an IRA with Orion Metal Exchange. The company allows you to fund your account with cash or a rollover of a current IRA. You can also check out the company's various IRS-approved precious metals options, like American Gold and Silver Eagles.
Investing in the Orion Metal Exchange's gold IRA means you'll get the same tax deductions as a traditional one. However, investors need to remember that they cannot make a withdrawal before the 59½ years. Making a withdrawal before 59½ years will make you subject to various taxes and a 10% penalty for premature withdrawal.
When the account reaches 70½ years, you need to make mandatory withdrawals. If not, you will have to pay the same taxes for it as a traditional IRA. If your gold IRA is a Roth account, you won't have to pay any taxes when making withdrawals.
Orion Metal Exchange Pricing Info
The pricing gives Orion Metal Exchange a competitive advantage over other companies in the field. The annual charges for the storage will vary, depending on where you store your precious metals. Usually, the company can charge anywhere from $75 to $100 for storage.
The storage charges also include insurance costs. You need to invest at least $5,000 in precious metals. But, it's best to invest more than $30,000 to take advantage of its amazing offers.
A great example is that the company won't charge for storage, custodian, and insurance, if you invest at least $30,000.
Orion Metal Exchange Storage Options
Orion Metal Exchange gives its customers three options for storing their precious metals. You can choose any option according to your convenience.
Home Storage
Most people want to keep their precious metals in their homes, which is where they can help as well. The company can assist you in finding the best in-home safe protect your assets.
Secure Vault (depository) Storage
The depository is the best and most secure option to store your precious metals. You can keep your precious metals safe in a vault.
Individual Retirement Account (IRA)
Orion Metal Exchange can help you set up an IRA account backed by gold, silver, or other precious metals. The company can also help you rollover from your current IRA into one backed by gold.
Shipping Precious Metals
Orion Metal Exchange also assists customers in shipping their precious assets to their desired locations. You can place the order for gold, silver, etc., and the company will deliver it safely and quickly. The company will ship the valuable commodities in a secure package as well.
Orion Metal Exchange FAQs
What is a Gold IRA?
A gold IRA is very similar to traditional Individual Retirement Accounts. The only difference is that companies back it by gold or other precious metals instead of cash-backed assets. You can enjoy the same tax exemptions and benefits, but it does have a few limitations on withdrawals.
Can I store IRA precious metals at home?
Various companies don't recommend their clients to keep their precious metals at home due to the criteria set by the Internal Revenue Code in sections 408(m)(3)(B) and (n). So, it would be best if you store your assets in vault storage designed to keep your valuable metals safe.
Can I store my metals in a safe deposit box?
Yes, you can expect some extra charges that you need to expect. You have to get insurance for your safe deposit since banks don't offer any coverage. Moreover, it can be expensive to move the box when you want to cash your metals out.
What’s the significance of investing in precious metals IRA?
Gold and other precious metals are considered safe-haven investments, which mean their value will stay stable in tough economic times. Also, you can get a decent return if you invest in these assets.
Final Thoughts
If you want to invest in precious metals, you can consider Orion Metal Exchange, and the company makes it easy for you to invest in a gold IRA. You can easily purchase and liquidate other valuable assets as well.
