Orion Metal Exchange Gold IRA Review

by | Aug 24, 2020

Are you looking to invest in precious metals? Perhaps you’re considering opening a Gold IRA.

You might want to take a look at Orion Metal Exchange. Named the top-rated full-service precious metals firm by Retirement Living in 2020, Orion Metal Exchange is a full-service precious metal investment dealer. It offers gold, platinum, palladium, and silver coins and bars.

The company also offers individual retirement accounts (IRAs) for gold and silver investments. According to Orion Metal Exchange CEO Jacob Blalock, recognition by Retirement Living is both an honor and a manifestation of a dedicated, coordinated team effort.

The company boasts a five-star rating by Trust Pilot. Consumer Affairs also recognized Orion Metal Exchange as a Top Gold IRA Precious Metals Company in 2017 and 2018. The company has 50 years of experience in the industry and focuses on helping investors find the best option for precious metals investments.

If you’re looking to diversify your investment portfolio with minimal financial risk, Orion Metal Exchange is can help you. The company doesn’t charge set-up or IRA transfer fees and offers precious metals storage for up to three years.

It offers a variety of storage options to suit your specific needs. In this Orion Metal Exchange review, we explore what this company has to offer so you can decide if it suits your needs.

Orion Metal Exchange Company History and Background

Launched by Jacob Blalock in 2017, Orion Metal Exchange is relatively new to the precious metals industry. Nonetheless, it has achieved tremendous success. With headquarters in Los Angeles, California, the company claims to have more than 50 years of combined experience in precious metals.

It has received many positive reviews and recommendations from hundreds of satisfied investors, making it one of the top-rated precious metals dealers in the United States. The company meets a vast range of precious metals investors’ needs, including:

  • Sales
  • Liquidation
  • Education
  • Accredited IRA account set-up
  • Secure precious metals storage

It offers a variety of precious metals and IRAs not only to U.S. residents but also to investors residing in regions outside the country. The company assigns an account representative to each investor. This representative will work closely with you, guiding you through every step of the investment process.

They can answer all the questions you may have and help you choose the right precious metals to add to your portfolio. Your account representative will also keep in touch, providing you up-to-date information about market conditions and economic events that could affect your investments.

Many people invest with Orion Metal Exchange because the company offers more flexibility compared to other precious metals and IRA companies in the U.S. The company even allows you to roll over your existing IRA into a Gold IRA or precious metals investments.

Orion is validated by the Professional Coin Grading Service (PCGS). It also adheres to rules and regulations set by the Industry Council for Tangible Assets (ICTA) and the Numismatic Guaranty Corporation (NGC).

It’s a company you might want to take a look at to help you with your precious metal investments. They can help you feel confident that you’re investing in products that are appropriately graded and valued.

Orion Metal Exchanged Products & Services Offerings

Orion Metal Exchange offers sale, exchange, and secure storage services for bullion bars, bullion coins, and numismatic coins. When you partner with the company for your precious metal investments, you enjoy a variety of benefits, including:

  • A personal, knowledgeable account representative
  • A generous buyback policy
  • Fast, insured shipping of all Orion Metal Exchange bars and coins
  • Timely information and news on precious metals and economic events to help you make informed decisions

The company can also help you set up a Gold IRA. Let’s take a more in-depth look:

Orion Metal Exchange Gold IRA

What is a Gold IRA?

A Gold IRA is an Individual Retirement Account (IRA) where the investor holds physical gold coins or bars instead of bonds, stocks, or other financial investments. Gold IRAs have all the tax-deferment benefits of traditional IRAs.

Besides gold, you can also use other precious metals such as platinum, palladium, and silver in an IRA. Precious metals used in IRAs require storing.

The Internal Revenue Service (IRS) requires the holders of Gold IRAs to entrust a custodian, such as a brokerage firm or a bank, to securely manage their physical assets.

Gold IRA custodians must follow stringent IRS guidelines on asset security, accounting, and reporting. Orion Metal Exchange is one of the leading Gold IRA custodians in the U.S.

How Orion Metal Exchange Gold IRA works

With Orion Metal Exchange Gold IRA, you can physically hold precious metals such as bullion bars and gold, platinum, silver, and palladium coins in a tax-deferred account.

The company will guide you through the entire process of setting up the IRA. You can fund the Gold IRA with cash or a rollover of an existing retirement account. The company also offers a range of IRS-approved precious metals options, including popular products such as Silver Eagles and American Gold.

Orion’s Gold IRA falls under the same tax rules as traditional IRAs. That means your IRA contributions can be deducted from your federal income taxes.

You can’t make withdrawals from your account until you reach the age of 59½ years. If you do, your withdrawals will be subject to taxation, plus a 10% penalty for premature withdrawal.

When you reach the age for 70½ years, you must begin making mandatory withdrawals, which are subject to taxation, as with traditional IRAs.

If your Gold IRA is a Roth account, your withdrawals are tax-free because you already paid tax on the contributions. You’re also not obligated to begin making withdrawals at age 70½.

Orion Metal Exchange Pricing Info

Many investors prefer working with Orion Metal Exchange for its competitive pricing. The company charges annual storage fees of between $75 and $100, depending on where it stores your precious metals.

That storage fee includes insurance. The minimum amount you can invest in precious metals is $5,000. However, it’s a good idea to invest at least $30,000 to capitalize on promotional offers.

For example, if you invest $30,000, Orion Metal Exchange offers you one-year storage, insurance, and a custodian at no extra cost. There is no annual agreement fee.

Orion Metal Exchange Storage Options

The company offers three options for storing your precious metals – home storage, secure vault storage, and IRA.

Home storage

If you want to keep your precious metals at home, Orion Metal Exchange can help you choose the best in-home safe to secure your assets.

Secure vault (depository) storage

A depository vault is the safest storage option. If you’re not comfortable with the idea of storing your precious metals at home, vault storage may be a good option to ensure the security of your assets.

Individual Retirement Account (IRA)

If you choose to invest your gold, silver, or other precious metals in an IRA, Orion Metal Exchange will assist you with setting up a Precious Metals IRA account or completing a rollover from an existing IRA.

Shipping Precious Metals

If you place an order for gold, platinum, silver, or other precious metals with Orion Metal Exchange, The company can assist you so that your assets can be shipped quickly and securely.

The company packages and ensures every shipment of precious metals arrives safely and as quickly as possible.

Orion Metal Exchange FAQs

What is a Gold IRA?

A Gold IRA is a retirement investment in which you can own physical IRS-approved gold, platinum, palladium, and silver bullions, coins, or bars. It has all the tax-deferment benefits as traditional IRAs. However, Gold IRAs have some restrictions on withdrawals.

Can I store IRA precious metals at home?

Precious metal firms advise customers against storing precious metals at home because of the standard outlined in sections 408(m)(3)(B) and (n) of the Internal Revenue Code. You should save your assets in safe depositories designed for storing IRA precious metals.

Can I store my metals in a safe deposit box?

Yes, but you should expect some challenges or additional costs. You’ll need to securely move the bulky possessions when it’s time to cash them out, which can be a costly endeavor if you’re renting the boxes for a prolonged period. You’ll also need to purchase insurance for the safe deposit box because banks don’t offer such coverage.

What’s the significance of investing in precious metals IRA?

Gold and silver are dubbed “safe-haven” assets. Adding these precious metals to your IRA helps stabilize the value of your savings. It also prevents your savings from fluctuating like other investments.

Final Thoughts

Orion Metal Exchange may be the one you need if you’re looking for a precious metals investment company to assist you with setting a precious metals IRA or investing in gold, silver, or other precious metals. The company offers you the option to purchase or liquidate, and it has a Gold IRA account to help customers diversify their portfolios.

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