If you have been thinking to invest in gold & silver to diversify your retirement portfolio lately I absolutely understand you. You might have come across Western Gold Capital in your research.
This company is not on my top-5 list of gold IRA companies, at least not yet. However, Western Gold Capital might end up there in a near future as they have been getting good reviews lately.
In this detailed Western Gold Capital review, I’ll cover everything you want to know about:
- Overview of Western Gold Capital
- Products and services offered
- Account setup process
- Storage and security
- Fees and pricing
- Pros and cons
- Customer reviews
What is Western Gold Capital? (quick overview)
Western Gold Capital (WGC) is a precious metals dealer that claim to be located in two locations: West Palm Beach, Florida and in Scottsdale, Arizone. I tried hard to find any info on owners and what year the company was founded but there was no info on their website, also not on the Better Business Bureau… both places where you usually can find that kind of info.
Anyway, the company focuses on gold, silver, platinum and palladium, mainly through precious metals IRAs but also through cash purchases.
As mentioned above, I didnt find any info on the BBB website, as a matter of fact, I didn´t find anything at all about the company on BBB, that surprised me as they are encouraging their website visitors to read the reviews on BBB, what´s going on?
Western Gold Capital stands out for waiving all the fees on precious metals IRA for the lifetime of qualified clients client. Another thing that make them stand out is their wholesale pricing, typically 3-5% below the retail online prices.
Western Gold Capital Review (Products and services):
As mentioned, the way you can invest in physical precious metals with this company is either through and IRA or through cash purchases.
You can rollover or transfer an of the following accounts into an IRA: Traditional IRA, 401(k), 401(a), 403(b) 457(b) TSP, SEP IRA Non-IRA investment accounts (e.g. brokerage account).
The metal products you can choose from are gold, silver, platinum and palladium in the form of either coins or bars.
Precious Metals IRA
It looks to me that their gold, or Precious Metals IRA service is their main service.
A Precious Metals IRA is just like any traditional IRA, only that you hold physical precious metals in it instead of paper assets. It basically provides the exact same tax advantages as a traditional IRA but obviously acts more as a hedge against inflation.
Western Gold Capital offers a wide variety of IRA-approved metals, including:
- Gold coins and bars
- Silver coins and bars
- Platinum bars and coins
- Palladium bars and coins
Cash Purchases?
Yes, cash purchases are available on the WGC website, gold, silver, Platinum and Palladium in the form of bars, coins and rounds. If you are interested in this you are encouraged to reach out to their team to learn more on how it works.
Storage and delivery (small overview)
The storage options you have with WGC is, just like some other things, a mystery… There is no info about this on their website…
Buyback program
I could not find any information about this at all on their website, so that is a mystery as well…
Customer Service
The way you can contact this company seems to be either through phone or by e-mail. Personally, I would appreciate if they had a live-chat function on their website but maybe that´s just me…
What are the steps to opening a Gold IRA with WGC?
The process that most times most of the other companies in this industry clearly shows on their website is nowhere to be found on the WGC website, so that is another mystery… Guess your only way to find out is to contact them and ask about this as well.
What they do state on their website is that there are no fees, and that sounds almost to good to be true because how else would they make any profit by helping you out? Guess the only other way would be on the markups on the actual metal products, right?
**See my #1 Recommended Gold & Silver IRA Solution instead
Storage and security
As mentioned, the storage options you got are a mystery as well, no info at all to be found about this on their website.
Home delivery?
I managed to find a bit of text about this on their website, home delivery is possible, however, they also mention that you would have to contact them to talk about this to find out more details on how it actually would work… Man, they really seem to like to talk to you it seems…
What about the Fees?
The only info about fees on their website is that they claim there are no fees, at least for “qualified” accounts, they do not explain what qualified means either…
What custodians have they partnered with?
Again, another mystery. Not a word on any of the custodians they have partnered with, only thing I found about custodians on their website was in the FAQ section where they answered the question why a custodian is needed.
PROs & Cons
I always provide you with PROs and CONs about the particular company I review, and below are the very few ones on WGC:
PROs
- No fees
CONs
- No info on their website about many key things
- Barely no reviews to be found on independent third-party consumer protection agencies
Western Gold Capital Customer Reviews
I always go and look at what the most well-known and trusted, independent, third-party consumer protection agencies have to say about a particular company I review. So, what ratings have Western Gold Capital got from these online watchdogs?
BBB (Better Busines Bureau)
Rating: N/A
Trustpilot
Rating: 4 / 5 (from 4 reviews) click here for details (opens in new window)
Rating: N/A
Trustlink
Rating: N/A
BCA (Business Consumer Alliance)
Rating: N/A
Is Western Gold Capital a Scam?
Is Western Gold Capital a scam or legit? Well, personally I see a lot of red flags, or should I say question marks. First of, they encourage you on their website to go and read their reviews on BBB, Trustpilot and Trustlink, then, when I visit those sites there is nothing to be found about Western Gold Capital… (exept for a few recent reviews on Trustpilot) Zero… So what is going on with that?
There is also no physical address to be found on their website, no info on how long they have been in business, no owner is named… All these things are pretty much always present on any other company in this business. So that is another weird thing I would say.
Then you got no info on their website on key things like custodians, storage alternatives, etc…
So personally, I would be very careful… Something I would advice you to always be of curse, but please make sure that you know all the info about this before moving forward with anything.
**See my #1 recommended Gold & Silver IRA solution instead
Do you own or represent Western Gold Capital?
If you are a representative or associate of Western Gold Capital and have found something not to be correct in this review please, feel free to tell me and I will make sure to update the info on this post. The easiest way to do it is in the comment section below and/or simply by sending an e-mail to contact@goldretired.com.
Final words and verdict:
Verdict: Not recommended (for now)
Overall rating: 2 / 5
To me this company is very unclear about many things, as I have mentioned in the review above. So I can not recommend this company at the moment. This can, of course, change in the future as I make sure to update these reviews as soon as something new comes up on any of the companies on this site.
Am not saying this is a scam, however, I really think that they need to work on their transparency because you shouldn´t need to call and ask about every little detail about a company of this caliber, at least I do not think you should.
Important:
Please make sure that you ALWAYS do your own research and that you compare different alternatives before you move forward with anything. You clearly understand this as you obviously are reading this review!
You are a smart person, so I am absolutely sure that you will have no problem to find the right company to do business with and that you also feel 100% comfortable with!
See my #1 Recommended Gold & Silver IRA Company
And/Or
See my Top-5 List of Gold & Silver IRA Companies
I hope you found this short review on Western Gold Capital to be helpful and that you now have a better overall view! Please, if you have used any of their services then please share you experience in the comment section below as it can help others!
Much success to you!
Michael, founder of GoldRetired
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