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Priority Gold Review (Is It Legit?) (August 2023 Update!)

August 21, 2023

Priority Gold Review

Welcome to my Priority Gold Review! (Updated August 2023)

With the possibility of multiple wars and other assorted chaos in 2023, alternative stores of value like gold and silver can serve a very important role for those looking to hedge.

That said, you do need to look for a trustworthy dealer first.

Is Priority Gold one of these companies that you can actually trust or not? We shall find out in this Priority Gold Review! Let's get started.

If you wish to jump straight to our top-recommended precious metals company, click here!

Priority Gold Review Quick Summary

Name: Priority Gold

Primary Contact: Mike Anderson (Marketing Director)

Price: Varies depending on your investments

Rating: 4/5

Priority Gold Review logo

What is Priority Gold?

Priority Gold is a precious metals investment company that was founded back in 2015. It is based in Dallas, Texas (headquarters) and Sherman Oaks, California.

This precious metals dealer provides clients gold and silver bullion products, as well as IRA-eligible ones, paired with security and convenience.

The precious metals offered by Priority Gold to its clients serve as a protection against inflation. Also, this gold company provides ways for the clients to diversify their portfolios to attain protection for the future.

Furthermore, Priority Gold has experts who can help clients choose the perfect investment-grade precious metals that are suitable for their specific financial goals, as well as their investment portfolios.

Apart from the precious metal products, Priority Gold offers various services that will fully help investors in their precious metal investments.

Overall, Priority Gold is a good, trusted and reputable precious metals company in the United States that value the clients' precious metal investments and make sure that they make the best decisions.

Priority Gold Awards

To add to Priority Gold's legitimacy, the precious metals company won several awards in the past. It was awarded the Good Standing Awards by the ICTA (Industrial Council for Tangible Assets).

ICTA is basically the Consumer Watchdog Agency in the precious metals community. It is responsible for making sure that precious metal investors are safe from scams.

Also, Priority Gold received the 2019 Best of Sherman Oaks Award. It is an annual award that recognizes the achievements of local businesses in Sherman Oaks.

Priority Gold Company Management Team

Now let's get to know the people behind Priority Gold. In Your Gold IRA Guide, we always check whether the precious metals company provided information about their management team.

It is common that scam companies do not provide any information on their founder or people behind them because obviously, their operation will be exposed.

Unfortunately, Priority Gold's website does not have a section that contains any information on their management team.

However, I found 2 LinkedIn profiles of the staff of the company.

  • Mike Anderson - Director of Operations
  • Gregory Gaussa - Manager

Mike is in-charge of the leadership, strategic vision, the company's direction and their planning. He has over 10 years of experience in the industry.

Gregory has been in Priority Gold since 2020 and has over 14 years of experience in Sales and Retention. He claims to have helped people preserve their wealth and in their precious metal investments.

Priority Gold Review: Products and Services

Priority Gold is similar to Goldco in which they only provide investment-grade gold and silver precious metal products in forms of bullions, proof coins, private coins and IRA-eligible precious metals.

Among the products being offered at Priority Gold are the following:

  • Gold Austrian Philharmonic
  • Gold American Eagle
  • Gold Canadian Arctic Fox
  • Gold American Buffalo
  • Gold Canadian Maple Leaf
  • Silver Canadian Maple Leaf
  • Silver American Eagle
  • Silver Canadian Gyrfalcon
  • Silver Canadian Polar Bear
  • Silver Canadian Arctic Fox

Currently, Priority Gold does not offer any platinum and palladium bars and coins, making their catalog a bit limited, compared to other companies.

You can check out its complete list of products in its website.

Priority Gold IRAs

Priority Gold also offers IRA services for its customers. However, it is not an IRA custodian. The gold company can only provide you with the IRA-eligible precious metals. But don't worry.

Priority Gold has a partner IRA custodian that can take care of you, which is Preferred Trust Company. They will provide the custodial and the administrative services for your IRA.

But if you prefer to choose another IRA custodian, you are free to do so. Just informed Priority Gold.

Moreover, rollovers are accepted. So if you have existing IRA accounts, 401(k), 403, 457, or TSP, you can transfer your funds to your new IRA with Priority Gold.

To get started, you only need to follow these simple steps:

  1. Open your self-directed IRA. You can either rollover your existing accounts, or contact an IRA custodian to start. You can ask Priority Gold's assistance to get you started.
  2. Once you have your IRA, start funding it. Your IRA custodian will help you out.
  3. Select a Priority Gold as your precious metals dealer.
  4. Choose the right precious metals for your IRA. Priority Gold's experts can advise you with this.
  5. Order the precious metals and then they will be kept in storage.

NOTE: Priority Gold has not mentioned any options for their storage services or any partner depositories.

Priority Gold Review: Buyback Program

If you wish to liquidate and sell the products you purchased from Priority Gold back to them, you can do so with their Buyback Program.

The said program has three options for you.

Open Market Sale

If you want to maximize the selling price of your precious metals, then you should go for this option. In this one, you are 100% in control of the selling and are fully responsible for the transactions.

You will be selling your precious metals yourself. However, the downside is that you need to allocate your time and energy into selling them. Moreover, there are transaction fees that you need to comply.

No minimum hold is required for this option.

Consignment Sale

In this option, you will be letting Priority Gold sell your precious metals for you through their trading floor. Consignment Sale will price your portfolio or precious metals based on Priority Gold's current market price, less than 15% which will cover for the various fees including the transaction, marketing, insurance and shipping.

Moreover, for the shipping and insurance of your precious metals to the Priority Gold facility, you are in charge of paying for these.

This option is ideal for those who want reasonable value for their portfolio but do not want to allocate their personal time into selling.

Furthermore, this option is only exclusive to Priority Gold clients who have held their precious metal investments for at least 60 months from the date of their original sale. Additionally, this option will be available for products that you have not purchased from Priority Gold.

Immediate Liquidation Sale

If you want to sell your precious metals quickly, then this option is best for you. This is recommended for bullion metals, numismatic coins and investment-grade coins.

Priority Gold will buy your precious metals based on their current bid price with zero fees. However, you will be paying for the shipping and insurance of your precious metals to the facility.

If you sell bullion metals under this option, you will receive the same price that you will get from option 1 and option 2 before fees.

However, if you do sell investment-grade and numismatic coins under this option, you will receive lesser price for them than in option 1 and option 2.

For this option, there is no minimum hold required.

Priority Gold Review: Fees and Charges

One of the very important factors in checking out a precious metals company are their fees and charges. Clients need to know these values since it has an influence on their decision, as well as their precious metal investments.

Unfortunately, Priority Gold currently has no information or transparency regarding their fees and charges, which is a huge disadvantage.

Most clients really prefer a transparent precious metals investment company and they steer clear from companies with insufficient information. Especially in this industry in which trust and transparency is important, precious metals company must provide all the necessary information that clients need.

There are other companies such as Goldco that offer ZERO fees for their clients for the first 10 years and will even let you choose your gold and silver.

How to buy precious metals from Priority Gold?

There is no clear information about the process of buying from Priority Gold. However, since it has an e-commerce website, it may be similar to the other companies.

Basically, you just go to their product catalog through their website and choose a product you want to buy.

You need to add these products to your "Cart" and when you are done, proceed to the payment.

Once payment is received and cleared by Priority Gold, they will ship your products to the address you have provided.

Priority Gold Payment and Shipping

Another information lacking in Priority Gold are its payment methods and shipping policies.

Again, these are very important factors that will influence clients in their decision of choosing Priority Gold.

Chances are, you will only find out the payment methods and shipping policies if you will be buying from Priority Gold.

For those who want to check them out first before buying, you will not be able to know these information.

Priority Gold Reviews and Ratings (August 2023 Update)

To make this Priority Gold Review better, I have listed the company's online reviews and ratings below as of August 2023. These ratings and reviews will provide you an overview of what past clients think about Priority Gold.

  • Better Business Bureau (BBB) - 5 out of 5 rating, A+ rating based on 10 reviews and 2 resolved complaint. Still BBB accredited
  • Business Consumer Alliance (BCA) - 5 out 5 rating, AAA rating based on 35 reviews
  • Trustlink - 5 out of 5 rating based on 24 reviews

As you can see, Priority Gold reviews and ratings are positive from these websites. However, the number of people leaving these reviews are a few, making the sample size small.

There are other companies that received thousands of positive ratings and reviews. So if you prefer these companies, click here.

Priority Gold Pros and Cons

Pros

  • Very good ratings and reviews online
  • BBB accredited
  • Good customer care and service
  • Provides a lot of information to the clients
  • A+ BBB rating
  • Provides IRA services
  • Buyback program

Cons

  • Most of the precious metals offered seem to be in the form of coins, which may not be fascinating to some clients who prefer to deal with various precious metals like bullion bars, rounds, etc.
  • Lack of transparency and vital information
  • No platinum and palladium products
  • Limited online presence

Is Priority Gold a scam?

To conclude this Priority Gold Review, let us find out whether it is a scam or not.

Evidently, Priority Gold is not a scam. First things first, it is BBB accredited and received several positive ratings and reviews online. If it was a scam, it won't even achieve this kind of feat.

Moreover, it provides very good products and services to its clients. If you are looking to start investing in precious metals, you can surely trust Priority Gold.

However, they fell short in their transparency and information. Most clients really prefer a company that has complete information on their company, products and services.

But in the end, it will still be up to you. If you wish to know more about other companies, you can check out my other reviews below.

Thank you so much for reading my Priority Gold Review! If you have any comments or questions, feel free to leave them in the comments section.

Anis is a digital marketing expert that enjoys writing blogs and helping people avoid scams online; he is passionate about investing in real estate and gold; in his free time, Anis loves playing football, going to the gym, and hanging out with friends.


By the way, if you are tired of scams and want to invest with a legit gold company, check out my 6 top legit gold IRA companies of 2024!

Anis

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