Gold Alliance Reviews

June 4

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Gold Alliance Review: Out of Business?

Ilir Salihi

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Update for June 2024:

Gold Alliance is no longer in business. After 22 years of serving Americans, the gold IRA company has closed their doors and is no longer in business.

From our research, it appears that the owner of the company decided to sell Gold Alliance's assets and shut down the gold business for personal reasons.

If you're looking for another top rated gold IRA company, check out our full list of gold IRA dealers here.

There are plenty of trusted companies that you can call for your gold and silver needs.

If you'd still like to read our previously published full review of Gold Alliance from early 2024, we've kept the full article published below.


Gold Alliance is the latest company to have landed on our radar. With celebrity endorsements and promotions across some of the larger media websites, they're hard to miss. Established in 2002, Gold Alliance is one of the older dealers we’ve come across in a crowded gold IRA market.

With so much experience, we're expecting good things, and there's already plenty to point in that direction just from a quick review of their website. But before we get into all the celebrity endorsements, media mentions and product listings, let's see who's behind this top-rated company in the sector.

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About Gold Alliance 

As metals grow in popularity, many gold IRA companies have popped up on the scene. Founded in 2002, Gold Alliance might indeed be one of the older and more established dealers in the precious metals IRA sector. As we tend to point out, experience isn't the end-all-be-all here. But over two decades in business when many of the top competitors are hovering around half a decade? It's something to consider and speaks of commitment.

Gold Alliance's top brass is diverse in terms of background. It's not uncommon for CEOs of companies such as these to come from families where economics run in the blood. That doesn't appear to be the case with CEO Joseph Sherman, who tells us his baker father's work ethic gave him all he needed to succeed in the gritty financial sector.

Joseph Sherman of Gold Alliance

Joseph Sherman, Gold Alliance CEO

Sherman, married for 27 years, works alongside his wife in the company. A founding member status in the Precious Metals Retail Association (PMA), alongside member of the National Ethics Association (NEA) and the Industry Council for Tangible Assets (ICTA), attest to his involvement in tangible assets.

The other personnel listed are Kevin Troy, director and partner with a considerably more traditional background. Troy worked with JPMorgan Chase and as a large mortgage broker in San Diego before being spurred towards precious metals after witnessing the damaging effects of the dot-com bubble crash.

Fred Abadi, the remaining member of the team, likewise has decades of experience in finance under his belt. Specifically, he now has 15 years of experience in the precious metals investment industry, having first come to it due to a general interest in commodities.

Gold Alliance Celebrity Endorsements and Mentions

Gold Alliance is endorsed by Mike Huckabee, the former governor of Arkansas and political commentator. How much this means to you probably depends on how much you agree with Huckabee's stances. But it certainly doesn't hurt to have a Baptist minister and former Republican presidential candidate endorse your precious metals company.

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Being an old, knowledgeable and highly-rated company, it shouldn't come as a surprise to see Gold Alliance featured all over the media. They were named the fastest-growing gold company in America by Inc. 5000 and have found their name in practically every top financial outlet you could think of, like Forbes, the Wall Street Journal, Fox News, Bloomberg Business and plenty more.

As you'll soon see, it's not just celebrities and outlets heaping praise on Gold Alliance: it has one of the best review profiles we've seen out of any gold IRA company. But before we get into products and reviews, a brief mention of their extracurricular activities, so to speak.

Gold Alliance Charity Ventures

An interesting sight on their website comes in the form of a fairly prominent mention of charity, more specifically veterans' aid. They list multiple veterans' foundations to which they support. Not seen that often among gold IRA companies, and a nice touch.

Related: How to Diversify Your IRA with Physical Gold (Free Guide)

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How to Open a Gold IRA with Gold Alliance?

A gold or silver IRA is the primary product that Gold Alliance offers its customers, much the same as any other precious metal IRA company. Though they sell metals outside of an IRA, this tends to be secondary to a tailor-made approach to retirement investments.

Gold Alliance presents us with a familiar 3-step process of opening a gold IRA, which is:

1.      Open the new account with the help of a specialist

2.      Transfer the funds from your existing 401(k) or IRA into the new account

3.      Use the funds to purchase gold and other precious metals which are stored in a secure depository

As you might expect from a top company of this kind, the process is very streamlined and you could find yourself putting in very little effort to get the account up and running.

Besides the standard information that these companies offer interested parties, you can also request a free consultation with an expert, that is, a company representative.

If you choose to work with Gold Alliance, you’ll have a precious metals specialist within the company to assist you. Your representative can answer questions, hold your hand throughout the process, and help with selecting the metals once the rollover process is complete.

Gold Alliance Fees, Custody and Storage

The account minimum of $20,000 is generally on the lower end you'll find among gold IRA companies, and definitely an appealing barrier for such a large and reputable company. It means you don't need to have a huge amount of capital to open and maintain a sturdy retirement account that, given the company's track record, is there for the long haul.

The annual fees for account maintenance vary, with $200 being a ballpark. It's not easy to figure out which custodian and depository Gold Alliance works with, as they're not immediately listed on the site.

However, some digging lists GoldStar Trust Company, Equity Trust Company and Preferred Trust Company as their preferred custodians. Like most companies of this kind we've come across, you can probably choose another custodian if it suits you. Keep in mind, though, that different custodians can mean different annual fees.

The same goes for the Delaware Depository, which is the preferred gold IRA storage depository used by Gold Alliance. We reached out to Gold Alliance and received confirmation they’re open to working with any approved private depository in terms of where you'll store the precious metals you've purchased.

Gold Alliance

GoldAlliance.com

Gold Alliance Promotions

It seems the company alternates a little bit between what's their current main promotion, which isn't unheard of in this sector. Currently, the most advertised promotion is up to $15,000 in physical gold added to your account on qualified purchases. If you can qualify, it's certainly a good one.

When a company is in business for over 20 years, it's only normal that they'll switch their promotions up a bit, and to get the most accurate info, you might be best off talking to one of their representatives on the phone.

Gold Alliance: 1-888-281-6695

Related: American Hartford Gold Review - Best Choice for Your Gold IRA?

Gold Alliance Buyback Policy

If you research a few of the top gold IRA companies, you’ll see that many of them advertise a program to buy back your metals if and when it comes time to sell. Gold Alliance claims to have one of the best buyback programs around offering a fair price for your precious metals.. 

That's the kind of assurance we like to hear. Whether you end up opening a gold IRA with Gold Alliance or a competitor, make sure to get their buyback policy in writing. The option to liquidate the metals in your account easily can sometimes be as important as the option to purchase them easily.

Related: Buy Physical Gold & Silver (Tax-Free) with Your 401(k)

Gold Alliance Products

The precious metals IRA is their primary product, but what will it contain? With all the mentions of gold and silver, we were half-expecting only these two metals in their inventory.

But that's not the case, as they also have a reasonable selection of other precious metals, with relative rarities in each of the four categories. With nearly a hundred items together, let's split them up based on the metal in question and see what the company has to offer to IRA and non-IRA buyers.

Gold

·        American Gold Eagle, bullion and proof, 1oz, 1/2oz, 1/4oz and 1/10oz

·        Canadian Gold Maple Leaf, 1oz

·        Austrian Philharmonic, 1oz

·        South African Krugerrand, 1oz

·        Various Canadian wildlife-themed coins in greater variety than you'll find with most other companies

·        A low-mintage recent commemorative gold coin

·        19th and 20th century U.S. gold coins, in denominations ranging from 0.125oz to 1oz

·        Various collectors sets, mostly the semi-antique U.S. numismatics

·        Gold bars, 1oz and 10oz

Gold Alliance products

Wide selection of gold and silver products

Silver

·        American Silver Eagle, bullion and proof, 1oz

·        Canadian Silver Maple Leaf, 1oz

·        Britannia, 1oz

·        Various Canadian wildlife-themed coins in various denominations

·        America the Beautiful, 5oz

·        Silver rounds, Sunshine Mint, 1oz

·        A lot of silver bars starting from 1oz

·        A lot of "junk silver" coins

Platinum

·        Canadian Platinum Maple Leaf, 1oz

·        Australian 1/3oz wildlife-themed platinum coin

·        Platinum Britannia, 1oz. Listed as "common bullion", but really, where have you seen this coin?

·        Platinum bars, 1oz

Palladium

·        Palladium bar, 1oz

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Gold Alliance Reviews

While not the only company with this approach, it's one that bears mentioning: Gold Alliance features videos with customers talking about their experience with the company on various parts of their website, including the front page.

Click to play

It's not just Mike Huckabee giving the accolades: you'll get to hear an Average Joe precious metals customer tell you what it's been like doing business with the Gold Alliance team. And, in every such video, they emphasize that the person talking is a real customer and not a paid actor, just in case there are any doubters out there.

This is a huge plus any time a company includes it, as you get to not only learn about the profile of the company, but also the kind of buyers they might attract. To those not wanting to watch videos, Gold Alliance prominently features various written reviews compiled from different watchdog sites that praise the company. Let's get into those in greater detail.

In a spot on the Better Business Bureau (BBB) page where there are usually alerts about a business' malpractice, Gold Alliance has placed an alert asking customers to consider mailing a customer care representative, along with providing their name and address, before making a complaint. It's a proactive way of trying to avoid dealing with complaints publicly, which can be difficult to remove, and also shows a dedication to customer care in general.

So, did it help the BBB profile? We'd say so. 4.98/5 rating based on 181 reviews: both a contender for the highest rating on BBB overall and the highest number of reviews on the site overall, the latter kind of to be expected given the company's tenure.

BBB reviews and ratings

Better Business Bureau

They're accredited with an A+, the highest grade, and have been since 2017. There, it is indeed confirmed that Gold Alliance has been in business for a kind of staggering 21 years.

The Business Consumer Alliance (BCA) website gives them a 5 out of 5 star rating based on 13 reviews, and an AAA rating, the highest mark. On Trustpilot, they have a 4.7 rating based on 44 reviews, 91% 5-star ones, 7% 4-star ones and no 1-star ones. The TrustLink site only has 2 reviews, with a total rating of 5 out of 5 stars.

For better or for worse, the CEO seems to reply to almost every review on Trustpilot, good or bad. The most emphasized thing about Gold Alliance is probably how easy the process is, which is what many gold IRA buyers are after.

Professionalism and things like going out of their way to keep track of a customer's order, which can get lost in transit more often than you'd expect, are among the more common themes here.

Related:  Diversify Your 401(k) with Physical Gold and Silver 

Gold Alliance Complaints

6 complaints on the BBB website closed in the last 3 years, 2 in the last 12 months. What do they say? The only complaint that reveals anything says it's a minor issue in the form of receiving advertising on their email when they don't want it.

Trustpilot has what you might call a negative review with some back-and-forth between a would-be customer and a CEO. Nothing horrible seems to have happened: it looks to have been a case of limited supply from two years ago among retailers and the sales rep perhaps needing to exercise a little more delicacy, which happens sometimes.

There's a few 4-star reviews, but they don't say a single negative thing about the company, which kind of makes us wonder: "Why not 5-stars, then?" And that's pretty much it in terms of negative feedback.

Gold Alliance Alternatives

If you've been researching gold IRA companies for some time, you already know there are a large number of precious metal dealers advertising across the internet, tv, and radio. 

Before choosing a company, it's always smart to compare two or three dealers and compare fees, pricing, and current promotions for opening a new account. 

Some other gold IRA companies to consider include:

Goldco: Similar to Gold Alliance, Goldco also has A+ ratings across the internet, over a decade in business, and a wide selection of gold, silver, platinum, and palladium bullion bars and coins.

Current promotion: Up to 10% free silver when you roll over $100,000 or more into your gold IRA

Augusta Precious Metals: Another highly rated gold dealer, Augusta Precious Metals has also been in business for over a decade. Endorsed by Joe Montana, the company is known for it's price transparency and commitment to customer service. Ask about their (free) one-on-one educational webinars.

Current promotion: All customers qualify to have all IRA fees covered for up to ten years.

Birch Gold Group: Another established gold IRA dealer, Birch Gold was founded in 2003. Highly rated across review sites, the firm is endorsed by prominent conservative figures like Steve Bannon and Ben Shapiro.

Current promotions: Up to $10,000 in free silver with new accounts.

Request your free gold IRA guide from Gold Alliance, but make sure to review at least two or three companies before making your decision.

We've ranked and reviewed all of the best gold IRA companies here. 

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Gold Alliance Pros and Cons

Pros

  • More than two decades in business obviously gives them plenty of experience
  • Great inventory for both gold IRA and non-gold IRA eligible products
  • Overt attention to customer service over the long-term

Cons

  • No markup listed, as is standard for most IRA precious metal brokers
  • Not much of a fee outline besides the account minimum of $10,000 for IRA and non-IRA purchases

Gold Alliance Review - Verdict

Customer care and inventory are two things we have to talk about here. The review profile is great, and if that's really the CEO replying to customers, all the better. Actually, the one "kind of" negative reviewer seems to affirm that the CEO really is making these replies. Hard to believe, but it still looks good for the company.

With 20+ years in the business, we'd definitely expect more complaints and negative reviews, but there are practically none. The proactive approach that the company has taken towards reassuring customers in the form of interviews on the website is great and certainly helps instill confidence.

The other thing that needs to be mentioned is the inventory. There are items in there that are a strange find in any bullion dealer's inventory even for experienced investors. A platinum Britannia?

You don't see that very often, and certainly not among precious metals IRA brokers. Likewise, the incremental collector's coins enforce the idea that the company does plenty of business outside of gold IRAs.

Either way, those looking for a robust precious metals IRA are highly likely to find Gold Alliance a good choice. When it comes to staying power, which IRAs kind of revolve around, it's hard to beat the title of having "over two decades in the precious metals sector."

This kind of mileage conveys commitment that goes past just making a profit, as do the CEO's various media appearances of cautioning investors against economic calamity.

Whether you want to open a gold IRA with a plethora of investment choices in all four precious metals or obtain some rare coins, Gold Alliance is an easy company to recommend.

The precious metals dealer has a long history of 5-star reviews, an excellent selection of gold and silver, low account minimums, and a committed Gold Alliance management team. While they're not our top choice, we’re keeping an eye on Gold Alliance as they're a solid company that seems to only be getting better. 

Buy Physical Gold with Your 401(k) or IRA

Goldco Kit

Free Guide Reveals Strategies to Buy Physical Gold & Silver with Your IRA or 401(k)...

Goldco awards recognition


About the Author

Ilir Salihi is the founder and senior editor at IncomeInsider.org. He oversees all content for IncomeInsider and its partner sites. His articles and insights have been featured on Barchart, Benzinga, and Investing.com, among other prominent media channels.

Ilir Salihi


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