Noble Gold is a well-known investment firm that allows customers to invest using precious metals—such as gold and silver—in a self-directed IRA. In addition to precious metal IRA services, the company also offers standalone purchases, a wide selection of coins (like the American Gold Eagle), physical gold storage solutions via International Depository Services, and even a buyback program!
For the most part, the company has received positive reviews. However, we’ll be primarily taking a look at Noble Gold complaints in this article, so you can gain a general idea of the occasional issues you may encounter.
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An Overview of Noble Gold?
Noble Gold is an online precious metals dealer that offers the opportunity to invest in a variety of precious metals including gold coins, silver coins, platinum coins, palladium coins, gold bars, silver bars, and precious metals with a low minimum investment.
The company prides itself on providing customers with various educational resources, giving them the necessary knowledge to make an informed investment decision with every purchase. Orders deposited into an investment account are stored by International Depository Services, with insurance coverage underwritten by Lloyd’s of London.
Noble Gold also caters to coin collectors with its expansive selection of collectible coins. In addition to selling precious metals, the company also allows customers to sell their precious metals to Noble Gold via the buyback program.
Noble Gold Complaints
“Noble Gold told me no costs involved except $200 annual storage fee for storage of gold and silver. And they were going to pay the first year! That’s what they said with their mouths. They did NOT tell me about their 9 percent commission for the purchase of the gold and silver. That’s hidden in the fine print. Because of who recommended them I thought they were legit. Normally I read all contracts but failed to do so in this case. Lesson learned. Buyer beware. What a racket!” – Charles (US, Jan 18, 2023, via Trustpilot)
Whether you’re interested in Noble Gold for their precious metals IRAs or you simply want to have gold shipped to your home, there is something you need to know going in: every precious metals company charges slightly more than the current price of gold!
The current going rate—known as the spot price—tells you how much your precious metals investments are worth. However, companies won’t make any money if they sell it for this price, which is why they charge slightly more (referenced as “9 percent commission” above).
It’s important to be familiar with every aspect of the entire process when making a purchase, whether you’re buying outright or adding to your retirement portfolio. Unfortunately, you’ll always be charged above the spot price (no matter where you shop!). However, if you want to get the best price, it may be worth looking around at prices from multiple dealers.
“It took about a month to transfer my assets to Noble Gold so if they can speed up the transfer process that would be good. Hope did a good job explaining the best way to buy Gold & Silver. Other than that I was satisfied with the experience.” – David (US, April 9, 2021, via ConsumerAffairs)
Depending on what type of account you have and what type(s) of assets you’re attempting to transfer, the transfer process can take as little as four days to as long as 60 days! A direct custodian-to-custodian transfer will generally be completed in two weeks or less.
For this particular customer, the entire process seems to have taken around a month. Without knowing the specifics of his situation, it’s hard to determine whether this was a reasonable or lengthy process. Regardless, this doesn’t seem to be the average experience.
While most people don’t appear to mention the time frame(s) in their reviews, other user feedback about the transfer process included comments like “smooth transition”, “painless”, and “very easy to roll a partial IRA over”, which reflects well on the company as a whole.
“So far everything is fine but a little more communication would be nice. Wife and I made a deposit into our IRA last month, have not seen or heard anything about it. I would think that we should have received a report by now.” – Michael (US, April 22, 2022, via ConsumerAffairs)
Whether you’re trying to buy IRS-approved coins or make contributions to your precious metals IRAs (such as gold and silver IRAs), it’s fair to expect to be kept up-to-date throughout the entire process. This customer obviously wasn’t happy with the minimal level of communication, but—as explained in the company’s response—the issue turned out to be an easy fix. He just didn’t provide the correct email address!
Assuming you provide the correct contact information, you can expect to be kept up-to-date on any transactions you make with Noble Gold. As noted by another customer, the company is very good at keeping you “constantly up to date on what [you need] to do”, which is certainly a positive!
Most customer reviews have only positive things to say about Noble Gold. The company has established a solid reputation for providing excellent customer service, useful educational resources, secure storage options, and a great selection of investment options for retirement savings throughout the years.
Of course, as with any company, there are some negative reviews out there, but overall, the feedback is pretty good.
Compliments about the company vary, with comments ranging from how simple the rollover process is to praising the US-based storage facilities and wide selection of gold. With the exception of Trustpilot reviewers, it appears that Noble Gold has made a positive impression on most users.
Here are the average scores from a few different popular business rating services.
Better Business Bureau – 4.98/5 (based on 46 reviews)
ConsumerAffairs – 5.0/5 (based on 162 reviews)
TrustLink – 5.0/5 (based on 123 reviews)
Trustpilot – 2.9/5 (based on 2 reviews)
Noble Gold Complaint: Closing Thoughts
Although there are a few Noble Gold complaints that you can find online, this is going to be the case for pretty much any gold dealer. Even the most reputable gold companies still receive complaints occasionally!
Overall, Noble Gold does an excellent job at providing for its customers, offering fair prices, low storage fees, excellent customer service, and a wide variety of products. If you’re interested in adding precious metals to your retirement portfolio, Noble Gold is definitely a service we recommend looking into.
You can learn more about the service by checking out their current offerings here!