About Bishop Gold Group
Bishop Gold Group is a precious metals dealer based in Los Angeles, California. You can buy gold, silver, platinum and palladium bars and coins directly from the company, and Bishop also helps customers invest in precious metals through self-directed individual retirement accounts (IRAs). The company then uses Brink’s Global Services or Delaware Depository to store these investments.
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- Variety of precious metal offerings
- Offers precious metal IRAs
- Two depository storage options
- Delivery can take up to 28 days
- Account fees not disclosed publicly
Bishop Gold Group sells precious metals, which you can use to invest for retirement in a tax-advantaged IRA. It doesn’t disclose fees upfront, though, so you’ll need to reach out to see how it compares with its competitors.
What is Bishop Gold Group?
Bishop Gold Group is a precious metals dealer that also assists people in setting up self-directed IRAs. This means you can purchase precious metals from Bishop Gold Group and have them delivered straight to you or use them to invest for retirement.
If you’re looking to buy, Bishop Gold Group offers an array of precious metal products. These bars, coins and rounds come in different weights from a variety of different countries, including Canada, Mexico and South Africa.
If you’re also interested in holding your precious metals in a tax-advantaged retirement account, Bishop Gold Group can set you up with an IRA custodian and deliver your investments to one of two depository options. Bishop Gold Group can also assist in transferring funds from your current IRA or 401(k) by rolling them over into a precious metals IRA.
How does Bishop Gold Group work?
Bishop Gold Group helps you open a self-directed retirement account with a third-party custodian of your choice. You should be able to do this in four steps:
- Choose from a list of approved self-directed custodians and transfer your funds to your new custodian. You can also roll over funds from an existing IRA or 401(k) into your new retirement account if you wish.
- After the transfer, Bishop Gold Group helps you stock your account with precious metals, providing any information you want about its products, including price, inventory and delivery. Once you purchase, the metals should be sent to your depository account within 28 days.
- Your metals are stored at one of two depositories, Brink’s Global Services or Delaware Depository, until you’re ready to sell them or withdraw them from your account. Your investment is also insured for up to $1 billion against property and casualty losses during this time.
- Once the products are in storage, Bishop Gold helps monitor your retirement accounts moving forward.
You’ll follow the same steps whether you choose to invest in gold, silver, platinum or palladium.
If you’re not interested in opening a retirement account, you can still buy precious metal bars, coins and rounds from Bishop Gold Group directly. These products should be delivered to your address within 28 days of placing your order.
Bishop Gold Group products
Bishop Gold Group has a wide range of precious metal products for sale, including:
- Gold coins: American, Canadian, Mexican, British, Dutch, Australian and South African gold coins are available.
- Gold bars: Eleven sizes are available, ranging from 1 gram to 1 kilogram.
- Silver coins: American, Canadian and Australian silver coins are available.
- Silver bars: Four sizes are available, ranging from 1 ounce to 100 ounces.
- Platinum coins: American Eagle platinum coins are available in various weights.
- Platinum bars and rounds: Several types and weights are available.
- Palladium coins: Canadian Maple Leaf palladium coins are available in various weights.
- Palladium bars and rounds: Many types and weights are available.
Bishop Gold Group also helps clients set up precious metal IRAs. These are sometimes referred to as gold IRAs. However, you can store any IRS-approved metal in these accounts, including silver, platinum and palladium.
Bishop Gold Group costs
Bishop Gold Group does not disclose pricing for individual products — the prices of precious metals frequently change. The company provides 24/7 updates on the cost of precious metals, and you can view a live feed of gold, silver, platinum and palladium market prices on its website.
If you’re opening a retirement account with Bishop Gold Group, you should expect to pay setup and annual fees, though the company doesn’t disclose how much these fees cost upfront. To make sure you’re getting a good deal, we recommend reaching out to Bishop Gold Group for more information about its fees and comparing the cost against your other options.
Bishop Gold Group FAQ
- How do you buy gold from Bishop Gold Group?
To purchase gold from Bishop Gold Group, you’ll need to reach out to the company directly by phone, email or its website’s contact form.
- Where does Bishop Gold Group store my investment?
If you purchase precious metals for a self-directed IRA, your investment is stored with Brink’s Global Services or Delaware Depository. Otherwise, storage is up to your discretion.
- What precious metals does Bishop Gold Group offer?
Bishop Gold Group offers gold, silver, platinum and palladium products.
- Where is Bishop Gold Group located?
Bishop Gold Group is located in Los Angeles, California.
Is Bishop Gold Group legit?
Bishop Gold Group claims its employees are experts in the gold and silver market with decades of experience helping clients build precious metal portfolios. IRA investments are also insured for up to $1 billion against property and casualty losses. However, like any investment, precious metal investments carry risk, and Bishop Gold Group’s insurance policy won’t cover losses due to market fluctuations. That’s why you should research your options to make sure diversifying your portfolio with precious metals is right for you.
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So far it's been a really good relationship. Paul and his entire team have been accessible and very knowledgeable. I would like to have quarterly statements to let me know where and if I'm headed in the right direction. A quick phone call occasionally would be appreciated. Thanks. Benny
As I have done for the past two years. I drew out enough to pay my state and federal taxes. First year 2021, went off very well. Withholding for the IRS. My wi2022 had some problems. Several attempts to get the withdraw done, took several tries. Then, when completed the entire amount was sent to my credit union account. The irs taxes were not paid. I am now working to get that amount paid to the irs thru my tax preparer. I really like Bishop Gold Group. Todd **. Sydney.
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Very courteous and patient. Takes the time to answer questions. Return calls in a very timely manner. Knowledgeable in what they do, helping decide the best option for me… There is nothing I can complain about with my transactions at all.
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