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Find the Best Way to Invest in Gold in Madison, WI

During hard economic times, gold can provide you some financial protection. Diversifying your portfolio by investing in a gold IRA helps reduce your risk if other investments don’t do well. Madison.com has partnered with ConsumerAffairs to create this guide by comparing reviews and availability of more than 30 businesses and choosing 12 favorites from the top gold investment companies in Madison.

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Gold and other precious metal IRAs are an investment and carry risk. Consumers should be alert to claims that customers can make a lot of money in these or any investment with little risk. As with any investment, you can lose money and past performance is not a guarantee of future performance results. Consumers should also obtain a clear understanding of the fees associated with any investment before agreeing to invest.

How to invest in gold in Madison

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There are several ways to invest in gold. Some options may work better for you than others. Buying physical gold like bars and coins and even jewelry is one option. You can also invest in buying gold funds, such as gold exchange-traded funds or mutual funds, futures and IRAs. To figure out what option is right for you, read more about each investment below:

  • Gold bullion is any gold in the physical form of coins, bars or blocks. The value of gold bullion is determined by the daily spot price as well as the bullion’s mass and purity. You can invest in gold bullion by purchasing it from jewelers, government mints, precious metal dealers and private mints.
  • Gold ETF is an exchange-traded fund (ETF) that trades like a stock. A gold ETF is not a fund of physical gold. It’s a fund that holds gold-based assets. You can buy gold ETFs through investment brokers. Investing in a gold ETF is a low-cost option if you want to invest in gold.
  • Gold futures are contracts that say a specific quantity of gold will be bought or sold at a predetermined price on a future date. Investing in gold futures allows buyers not to pay the full price upfront.
  • Gold IRA, is an individual retirement account with tax-free growth. With a gold IRA, you own physical gold in coin or bullion form instead of paper assets. Your gold is stored at an IRS-approved depository via third party or the company you have an IRA with.

Madison gold IRA FAQ

How does a gold IRA work?

A gold IRA works like a traditional IRA except that the account holds gold or other precious metals. To open one, you must contribute gold bullion that meets IRS fineness standards. Your gold is then held by a custodian that is approved by the IRS.

What is a gold IRA rollover?

A gold IRA rollover lets you convert your existing retirement account into bullion bars or coins. In other words, you take the money you have in your current IRA and buy gold, which is held in the account.

Are there taxes on buying gold and silver bullion in Madison?

Yes, bullion coins are subject to sales and use tax, which is 5% in Wisconsin. According to the Wisconsin Department of Revenue, those who “purchase bullion for investment purposes may not purchase bullion without tax for resale.” Gold coins are also taxable if they are sold above their value as collectors' items.

How much gold can I sell without reporting?

You cannot sell any amount of gold without reporting it. Federal law requires you to report it on your income tax return. When you sell gold at a profit, a capital gains tax applies, which is equal to your marginal tax rate up to a maximum of 28%.

Is gold a good investment?

Gold is a safe investment, but it’s not going to give you huge returns. Gold is a good way to hedge the risk of the other investments in your portfolio. Gold has been around for a long time, and for a good reason: Its value holds. Buying gold is something to consider in times of economic uncertainty.

Madison gold investment company information

Red Rock Secured

Red Rock Secured is a wholesaler of gold, silver and other precious metals for IRAs. Metals purchased for IRAs can be stored in private storage facilities, but you can also elect to use home delivery, which is subject to federal rules around how and where the metals are kept. All transactions are based on spot market pricing, but details about additional fees aren’t available. Gold and precious metal specialists are reachable by phone at no cost.

Red Rock Secured Learn More (844) 824-7255

Patriot Gold

Patriot Gold Group offers a wide selection of gold, silver, palladium and platinum coins and bars as well as precious metal IRAs. Precious metal IRAs have a $180 annual fee after the first year and no fees on accounts with more than $100,000.

Patriot Gold

Orion Metal Exchange

Orion Metal Exchange specializes in helping clients invest IRA funds in gold, silver and other precious metals. The company, which advises its customers not to store metals at home, offers recommendations for secure, insured depository storage facilities. Storage fees vary but can potentially be free for three years on accounts that meet eligibility criteria. The Orion Metal Exchange advisory team is available to give guidance at no charge.

Orion Metal Exchange Learn More (800) 439-2259

Monetary Gold

Monetary Gold has helped consumers invest in precious metals since 2000. Depository storage is handled through a private depository storage facility in Delaware, which may provide some state tax advantages. Storage and insurance cost 0.1% of your investment after a $100 minimum. Customers who prefer to take physical delivery of precious metals pay a flat shipping fee of $30. Precious metal specialists are available to provide free investment guidance during business hours.

Monetary Gold

Oxford Gold

Oxford Gold Group is a gold and precious metals investment firm. Gold IRAs have an annual maintenance fee of $175 or $225, depending on whether your account is valued at more than $100,000. Oxford Gold handles all IRA precious metal storage at secure third-party facilities in Salt Lake City, UT, and Wilmington, DE. Home delivery isn’t available, but precious metal investment advice is available free of charge.

Oxford Gold

Advantage Gold

Advantage Gold is a precious metals investment firm that sells bullion coins and bars. The company also offers precious metal IRAs that hold gold, silver, platinum and palladium. Annual fees are $175 for storage and custodian management. Precious metals from Advantage Gold cannot be purchased online.

Advantage Gold


Goldco sells gold and silver coins for cash. Precious metal IRAs hold gold, silver or other metals. The company charges annual fees between $175 and $225 on IRA accounts.

Goldco Learn More (855) 707-4653

Augusta Precious Metals

Augusta Precious Metals has been selling gold and silver since 2012 at prices based on spot market values. Gold IRA customers pay a one-time $50 application charge and an additional $180 per year for custodial and storage fees. Cash purchases have a $25,000 minimum and Gold IRAs have a $50,000 minimum. Personalized specialists are available for free consultations during business hours.

Augusta Precious Metals Learn More (833) 546-5248

Lear Capital

Lear Capital offers precious metal IRAs as well as gold, silver, platinum and palladium bullion. Lear Capital charges a $160 annual fee that covers storage costs at the Delaware Depository, insurance, quarterly financial statements and an online account where you can monitor your portfolio performance. The company provides a 30-day price guarantee on the gold it sells.

Lear Capital

Jim’s Coins and Precious Metals

Jim’s Coins and Precious Metals deals coins, gold and silver bullion, scrap gold and jewelry. Coin appraisals under 10 minutes are free. The appraisal fee is waived if you sell your item to the company. Jim’s Coins and Precious Metals has one location at 726 N. Midvale Blvd., Ste. B-2, Madison, WI 53705. Customers can also shop online.

Jim’s Coins and Precious Metals

Rick’s Olde Gold

Rick’s Olde Gold buys jewelry, gold and silver coins, scrap gold jewelry and sterling silver. The store also sells jewelry, including diamond rings, vintage pieces, gold rings and more. Rick’s Olde Gold is located at 1314 Williamson St., Madison, WI 53703.

Rick’s Olde Gold

University Coin and Jewelry

University Coin and Jewelry is a local store that buys and sells gold and silver coins, bullion, jewelry and other collectibles. The business also offers appraisal services and may charge for consultations. University Coin is located at 6801 University Ave., Middleton, WI 53562.

University Coin and Jewelry