My Last Update to this Article was on: December 5th, 2018
A Word Of Advice
Don’t fall for pushy salespeople that will utilize the “Bait & Switch” and will charge you a premium for “rare” gold coins…unless you are looking to lose half of your investment.
Before you read my review of Heritage Gold, click here to see why I decided to work with this other company instead.
Heritage Gold Group Review
Heritage Gold Group is a sub-division of GoldCo Direct, and was established in 2006. This Gold Company is relatively new in the industry. It has received perfect scores and ratings from the BBB, BCA, and TrustLink (the 3 top ranking entities in the Precious Metals industry) and has had some positive feedback from current and past clients.
However, the big downside I see with Heritage Gold is that it is just not as established as other Gold Dealers. It is almost a pity, as this Company truly appears to be the real deal (and their customer service is attentive and experienced, per my conversations with them) but in this volatile economy, companies that handle large amounts of third party owned capital can go belly up at any time. This is why I personally prefer Gold IRA companies with a bit more history under their belt.
My Personal Opinion About Heritage Gold Group
I was impressed with the gold broker that picked up my call. As usual, I went through my checklist (you can see my full list of questions I ask Gold Companies here) and even found out details I did not know before, such as why Segregated Storage for a Gold IRA is better. More on Segregated Storage can be found in my article here. I love when that happens.
Little details can make or break your fortune, so you must be on top of everything and really get to know who will be handling your (lifetime) savings.
Heritage Gold Group was great on the phone but then I proceeded (as I usually do) to the second phase of my investigation. Unfortunately, I was not able to dig up a lot (or enough) information about Heritage Gold – this, in my eyes, is not a good sign. I always look for a wealth of information and history – good or bad – about Gold Companies. I need to have a palpable feel for who they are, what they have done for their clients, and what mistakes they have made, if any.
I Liked These Things
– 5 star rating with TrustLink
– Triple A Score with the Business Consumer Alliance
– An A+ ranking with the Better Business Bureau
– About 50 reviews from clients (on TrustLink) raving about Heritage Gold Group
– No setup fees
I Did Not Like These Things
– Very limited information on Heritage Gold Group is available
– Heritage Gold’s own website does not provide a lot of detail, either
– A Gold IRA transfer will take 14 days to process (other Gold Custodians are faster)
– Very high (compared to others) administrative fees ($100/year) and storage fees ($125/year)
Reviews, Ratings, Complaints, and Scams
Better Business Bureau
Heritage Gold Group boasts an A+ rating with the BBB (this is a perfect score)
The company has been accredited with the Better Business Bureau since May, 2012.
No complaints have been recorded.
Business Consumer Alliance
The Business Consumer Alliance has given Heritage Gold Group their highest mark: an AAA score.
Also very rare and commendable is that Heritage Gold does not have any complaints on record.
The only comments that appear on the BCA site state that Heritage gave clients a full or partial refund, made amends, or successfully resolved negative situations with customers.
A full 5 star score for Heritage Gold.
47 customer reviews, and in most of them, clients raving about Heritage Gold Group’s services.
Most of their clients appear to have executed a Gold 401K Rollover, or a Gold IRA Rollover, and this seems to be the Company’s main focus and strength. The array of clients (at least based on the reviews) seem to not be high level investors, with invested amounts in the range of $10K to $20K, overall.
Other Reputable Review Sources
No other reviews, comments, or information can be found anywhere for Heritage Gold Group from sites like the Ripoff Report, Yelp, Yellow Pages, or CitySearch, which is really a bit unusual (most companies do have at least one or two reviews with at least one of these sites).
Heritage Gold Group’s Strengths
Really, for me, their top strength is their amazing brokers (at least the one I spoke with), which are great on the phone and just full of deep-level advice (they touched on a few issues, like Depositories and long term implications and benefits of owning Gold over the U.S. Dollar) that no other company I had spoken with was able to bring up.
My second favorite plus about Heritage Gold is the fact that they do have perfect scores and great reviews from customers. Even though client reviews can be faked, I think it will get difficult to fake almost 50 reviews. But you never know, that’s why I always look for the whole picture.
Heritage Gold Group’s Weaknesses
I like to see lots and tons of information available about the Gold IRA Company I’m evaluating. Great reviews and rankings are a must, but without a healthy history behind it, a Company is not worth its weight in gold.
My own parameters (the ones I use and run in the back of my mind when I’m talking to all companies) are: they must have been established for at least 10 years, have perfect ratings and rankings, raving customers, and must be mentioned by a great deal of reputable sources.
If just some but not all of my parameters are met, I simply pass. A company like Heritage Gold Group is solid, and I like it a lot. I have it on my top 10 shortlist, and I’m keeping an ear and eye open watching it unfold in the coming years. If its reputation holds and more buzz about it starts to become widespread, I may consider it for future investments.
What Company Did I Choose?
For the reasons above, I decided to not choose Heritage Gold.
Instead, I decided to work with this other company.
I wrote 3 pages on all the reasons on why I decided to choose this other particular company.
In a nutshell:
They specialize in gold IRAs, they have a non-pushy sales staff, the lowest fees, the fastest processing and shipping times, segregated storage (this is a big reason), and the best (and also the most) consumer reviews.
If you would like to talk to me, I’ll be glad to help out in anyway I can. You can email me directly to [email protected] and I’ll answer personally.