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If you have ever considered investing in precious metals, you might have felt overwhelmed by all of the choices for precious metals companies on the market. There are certainly many options to choose from, but taking a closer look at one of the market's more popular companies can help. The following review of First National Bullion can help you learn more about this specific company. An honest look will help you determine if they are the right one for you.
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An Overview of First National Bullion
Founded in 2005, First National Bullion has been servicing customers for more than 17 years. Although their headquarters are based in San Diego, California, they service investors across the country. They are a smaller precious metals dealer with a strong focus on providing the highest quality of customer service. While other companies may focus more on sales, their team of representatives is more interested in helping investors make informed precious metals investments.
The team of knowledgeable customer service personnel recognizes the importance of using gold and silver to protect wealth in addition to pursuing growth. They have become renowned as an industry leader by putting greater focus on helping their customers use precious metals to reach their investing goals. The company does this by putting educational materials at the fingertips of their customers. They issue monthly newsletters that discuss investing trends and market news. Customers also have access to a wide range of informational materials to help them become more familiar with gold and silver investing.
How Does First National Bullion Stand Out?
As you take a deeper look into First National Bullion, you'll discover that the company has generated a high level of customer trust. In addition to servicing investors for almost 20 years, the company has earned that trust by providing better quality service.
Here are a few reasons beginners and seasoned investors choose to invest with First National Bullion:
In many ways, First National Bullion has set a higher standard for the rest of the industry. Their focus on building long-lasting relationships with their customers produces a broad range of advantages. You'll discover more reasons to invest through them as you explore their services below.
A Look at Their Products and Services
A review of First National Bullion's products and services will help new investors learn what they can expect from the company. Many of these services are designed to educate future and current customers, proving that the company is interested in helping their customers invest without regret.
They Offer Bullion Purchases
You can buy gold, silver, platinum, or palladium bullion. This makes it easy to build a diverse inventory of precious metals that will help you meet your investing goals more efficiently. When you visit them online, you will see real-time market prices, and you'll have the ability to make secure purchases online.
They Connect You With Buyers
At some point, you will need to liquidate your precious metals. First National Bullion will provide you with a list of offers from multiple buyers, allowing you the opportunity to choose the best offer. If you're not satisfied with any of those offers, the company will help you find a buyer that is willing to pay a fairer price.
They Sell Rare Numismatic Coins
If you collect rare coins, you can find interesting choices in First National Bullion's inventory. Similar to other forms of precious metals, the coins they sell will appreciate in value as inflation increases. They will help you generate a collection of coins that will increase in worth over a long period of time.
They Provide Real-Time Charts Online
When you visit their website, you'll be able to view market values in real-time. You can also take an extended look at the values of specific precious metals with a 30-day view. This can help you determine the best time to buy or liquidate your precious metals.
They Feature a Retirement Center
When you visit their Retirement Center, you'll find the resources you need to create a retirement investing strategy. The information will help you calculate how much you need to retire, and you'll learn the best investing strategy for meeting those goals. If you weren't aware that precious metals can help you build wealth in addition to protecting your existing savings, the Retirement Center should be your first stop.
They Will Alert You to Price Changes
If you want to keep a closer eye on the value of your investments, First National Bullion will help you. You can set up a price alert for any precious metals you want to watch. When the price of those metals changes, you'll receive an email notification. These email notifications can be used to help you keep tighter control over your investments.
The First National Bullion Purchasing Process
When you're ready to start buying precious metals through First National Bullion, you'll have a couple of different options. Your motivation for buying gold and silver will determine which option you will use.
Fund Your Self-Directed Precious Metals IRA
If you want to invest in precious metals as a way of protecting and growing your retirement savings, you won't be able to store gold and silver in your own home. The IRS has established strict rules for purchasing and storing precious metals.
You should let First National Bullion know that you want to use gold and silver products to invest in your retirement. They will make sure your purchases meet the IRS regulations for metal purity. They can also help you choose an IRS-approved depository to store your metals since the IRS prohibits investors from storing gold and silver in their residential homes.
Buy Coins For Your Personal Collection
You can invest in precious metals in the form of rare coins that don't meet the IRS' rules for purity. While these products can't be included in a self-directed precious metals IRA, you can store your collection in your own home.
You just won't enjoy the same tax benefits as gold and silver that are held in a retirement account. If you order more than 15 ounces of precious metals, First National Bullion will provide free shipping to your home. When ordering silver, you must buy a minimum of 300 ounces to get free shipping.
Each shipment is fully insured. Once it arrives at your home, you will have to sign to approve the shipment. This ensures the transaction is completed and secure. You can also have your shipment delivered to your bank or to an office, but you will still have to be present to inspect and sign for the delivery.
Use Brinks Secured Storage
If you're buying coins for your collection but you feel uncomfortable keeping them in a home or office, you can store them in a secure facility. First National Bullion partners with Brinks Secured Storage. An armored Brinks truck will deliver your purchase to the storage facility. They provide convenient account access and audits to help you keep an eye on your collection or investment.
Pros & Cons of First National Bullion
For a quick overview of First National Bullion, it can help to look at the pros and cons of buying precious metals through them.
Pros
Cons
FAQs For First-Time Customers
Using precious metals to invest in your retirement involves a complex set-up process, but First National Bullion can help you make that process easier. Many first-time precious metals investors have expressed common concerns. To help you learn more about this process, here are answers to a few frequently asked questions.
Who Can Start a Self-Directed Precious Metals IRA?
This option for retirement investing is open to anyone who is 70 or younger. Although you wouldn't be eligible to start a self-directed IRA after age 70, First National Bullion can offer more options for investing in precious metals later in life.
Are there IRS Penalties For Rolling Funds Over From a Traditional or Roth IRA?
The IRS doesn't have restrictions that prevent you from rolling your 401k, traditional IRA, or Roth IRA funds over into a self-directed IRA. In fact, you can do several rollovers throughout your lifetime. The only stipulation is that each rollover must be processed by the IRS within 60 days. If your rollover paperwork isn't received within that time frame, the IRS will charge income taxes and early withdrawal penalties on the amount.
How Can Distributions Be Taken?
As previously mentioned, First National Bullion will help you find buyers for your precious metals when you want to liquidate them. Alternatively, you can take your distributions in physical form. Rather than selling your bullion or coins, the company will deliver them directly to you.
Is First National Bullion a Scam?
When it comes to protecting and growing retirement wealth, it's easy to feel apprehensive about dealing with a new company. While you might not be familiar with First National Bullion, you can easily find a history of their performance. Nearing almost 20 years of service should prove to you that they are a legitimate dealer of precious metals. Look to the long list of positive reviews that you can see on consumer protection websites to learn more about positive investor interactions with them.
Why Should You Open a Gold & Silver Self-Directed IRA?
You might consider investing in gold, silver, and other precious metals without opening a self-directed IRA. While you can certainly do that, it's important to understand that you'll be missing out on the biggest advantage of an IRA. That is the tax savings you'll enjoy with an IRA. Income taxes will be deferred on any contributions you make to your self-directed IRA until you begin taking disbursements upon retirement. You also won't have to pay income taxes on the wealth you grow through investments until you retire.
The only exception would be a situation in which you take an early withdrawal. In that case, you will have to pay income taxes and penalties on the amount you withdraw. Even if you only borrow against your IRA holdings, you will be subject to taxes and penalties. However, you can avoid those costs if you repay the full amount within 60 days.
An advantage that's specific to a self-directed precious metals IRA is that you'll be protecting your retirement wealth. Even when you diversify your holdings among a variety of stocks, funds, and other paper investments, you can still lose money when the market loses value. In the event of a market crash, you could lose all of your savings.
When you have money invested in physical gold and silver, those funds won't face the same risks. In fact, the value of precious metals typically rises as the value of paper investments drops. When there's a drop in the market's value, many investors turn to precious metals, resulting in greater demand for gold, silver, and other precious metals. This will cause a sharper increase in the value of any precious metals you might be holding. In this way, having 15% to 30% of your wealth invested in precious metals can offer you protection against a volatile market.
Even when the market is performing well, your gold and silver holdings can provide a financial safety net. When you know that a portion of your wealth is secure, you'll feel more confident in using the rest of your wealth to pursue a more aggressive investing strategy. This can help you grow your investment earnings at a faster pace.
Finally, holding precious metals can help you secure your future through uncertain economic times. If there's a market crash or paper currency loses all value, you'll still be protected. Since some metals, such as gold and silver, are available in limited supply, they will always be valuable. In a financial crisis, your precious metals can be used for currency. While it may seem unlikely, there may be a time when paper currency is no longer accepted. You'll be prepared for that eventuality by owning precious metals that you could use to barter for goods and services.
How Can You Get Started With First National Bullion?
Many people avoid starting self-directed precious metals IRAs because the process seems too overwhelming. Fortunately, there's plenty of help available to you. When you choose to work with First National Bullion, they will assign an experienced manager to help you get through the initial set-up process. The following guide will tell you what to expect from this process.
Open Your Account
If you have any experience with the internet, you have opened at least one account through an online application process. You'll go through a similar process when you visit First National Bullion online. You'll fill out an online application and submit it via their secure portal. Once your application is received, a customer service representative will create a gold and silver account for you.
Initiate Your Rollover
If you have never processed a rollover, don't worry. Your First National Bullion account representative will help you complete this process. They will work closely with your 401k or traditional IRA custodian to process the rollover for you. In a very short time, your new self-directed precious metals IRA will be funded with your retirement savings.
Start Buying Precious Metals
The First National Bullion representative will also work closely with you to help you develop an investing strategy. They will help you choose the right gold and silver products that meet the IRS' regulations. From buying precious metals to having them delivered to an approved depository, you'll always have experienced assistance close at hand.
First National Bullion Values Transparency
You'll find many precious metals companies that focus only on making sales. In those companies, it's common to find hidden fees and a lack of customer assistance. That's not the case with First National Bullion. Their goal is to build long-lasting customer relationships, so they offer transparency and honesty in communicating with their customers and investors.
Fees
When looking for a precious metals dealer to help you fund a self-directed IRA, it's important to review the company's fee schedule. First National Bullion makes this easier by posting their fees on their website. Before you open your account with them, you'll be able to see how fees are charged and how rates are applied.
It's important to note that you won't see specific fees online. That's because your fees will depend on the amount of value of the precious metals you're handling. You will be able to use the online information to calculate your fees based on the size of the transaction you intend to process.
Customer Service
As you begin investing in precious metals, you will undoubtedly have many questions. You might have concerns about this process or about the performance of the market. First National Bullion makes it easy to contact their customer service team whether you prefer an email or a phone call. All of their contact information is available on their website.
After you create your account, you'll always have customer support at your fingertips. Your assigned account representative will help you with any assistance you might need. Even after you have maintained an account with them for years, they will always be happy to assist you. Make use of their help in buying different precious metals or in gaining insight that will help you plan a better retirement investment strategy.
Conclusion
In the end, you will have to trust your personal impressions and research in determining if First National Bullion is worthy of your time. Any investment should be researched thoroughly before deciding to move forward. The same is true with precious metals companies. After doing your due diligence, you might find that First Bullion Review will offer you the best precious metals investing experience. If so, their customer service team will be happy to assist you.
First National Bullion is an okay company and there is nothing too bad to say about it. However, we do not recommend them, since there are better companies we have reviewed on this website.
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