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Find the Best Way to Invest in Gold in Sioux City, IA

Gold can be a smart way to diversify your investment portfolio because its value increases during times of financial uncertainty. The Sioux City Journal has partnered with ConsumerAffairs to create this guide by comparing reviews and availability of more than 30 businesses and choosing 13 favorites from the top gold investment companies in Sioux City.

Companies pay ConsumerAffairs to be authorized, and the Sioux City Journal and/or ConsumerAffairs may receive compensation when you click a link, call a number or fill out a form on this site.

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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 Sioux City

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When you think of investing in gold, you might picture coins or jewelry. There are many other ways to invest in gold in Sioux City, including gold IRAs, futures and exchange-traded funds.

  • Gold bullion: Bullion is high-purity gold in the form of bars, coins and ingots. Gold bullion coins are popular with new investors. The most widely circulated coins, like the South African Krugerrand, the American Eagle and the Canadian Maple Leaf gold coins, are good for maximum liquidity.
  • Gold IRA: A gold IRA is an individual retirement account that holds physical gold or other precious metals. Much like a traditional IRA, a gold IRA holds assets on behalf of the account owner. The gold, silver, platinum or palladium must be stored by a trustee, not the individual. Like a traditional IRA, the account owner can liquidate the account for cash or take possession of the physical gold.
  • Gold futures: Gold future options give you the flexibility to buy or sell the gold at a certain price at a specific time. It’s popular with investors who do not want to invest a lot of capital upfront.
  • Gold ETFs: A gold ETF, or exchange-traded fund, is basically the purchase of gold in electronic form — you buy and trade just like you do with stocks. Gold ETFs are passive investment instruments based on gold prices.

Sioux City gold investment FAQ

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

No, there aren’t sales and use taxes on gold and silver bullion in Iowa. According to Iowa law, “Bullion means bars, ingots, commemorative medallions of gold, silver, platinum, palladium, or a combination of these where the value of the metal depends on its content and not the form.” There is also no tax for legal tender coins as long as they are being shipped to an Iowa address.

What is a gold IRA rollover?

Gold IRA rollover is a strategy some investors use to roll their existing retirement investments into gold bars or coins. With a gold IRA rollover, you have 60 days from the day you receive the funds to deposit the money in the firm. This is different from a transfer, in which you don’t have to worry about the 60-day rule.

Can I keep my gold IRA at home?

No, physical precious metals owned in a gold IRA account must be held in an IRS-approved storage facility.

How much gold can I sell without reporting?

All gold and silver sales are subject to capital gains taxes. Federal tax laws state that precious metal dealers must report certain sales by their customers, as well as payments they receive for a single transaction of $10,000 or more. Different rules apply for dealers and owners of gold, but regardless of the dealer's reporting obligations, you’re required to report any gold that you sell.

Is gold a good investment for Iowans?

Investing in gold can be a smart way to diversify your portfolio and hedge against inflation. While the price of gold can be volatile in the short term, it usually maintains its value over the long term. If you are interested in gold or other precious metals, we suggest talking to a trusted financial advisor before making any investment decision.

Sioux City gold investment company information

Red Rock Secured

Red Rock Secured provides gold and silver IRAs, with nearly 90% of clients qualifying for its “zero-fees-for-life” promotion. Investments must be at least $1,500, and storage fees start at $125. Choose from depository storage or home delivery. Red Rock Secured also offers a price protection guarantee and gives all clients one-on-one consultations.

Red Rock Secured Learn More

Patriot Gold

Patriot Gold acts as a facilitator in IRA transactions. There’s a $225 one-time setup fee to open an IRA account. This fee is waived for investments over $30,000. The company provides direct pricing and helpful resources to help with IRA management. Accounts can be created in one day, and Patriot Gold works with your financial institution to make IRA transactions run smoothly.

Patriot Gold Learn More (800) 678-7196

Orion Metal Exchange

Orion Metal Exchange offers precious metal IRAs, secure vault storage and home storage services. This company requires a minimum investment of $5,000 to start an IRA. There are no transfer or setup fees required when opening an IRA with Orion Metal Exchange, and you can store gold and silver for up to three years with this company for free.

Orion Metal Exchange Learn More (800) 439-2259

Monetary Gold

Monetary Gold is a direct dealer specializing in precious metals IRAs and coins. The company offers free gold investment workshops and boasts 50+ years of experience in the industry. All new clients get free shipping. However, a minimum investment of $5,000 to $10,000 is required, depending on the chosen custodian.

Monetary Gold Learn More

Oxford Gold

Oxford Gold Group is a precious metals dealer and IRA provider that lets investors store their precious metals in either the Delaware or Salt Lake City Depository. It covers storage fees for the first five years. Minimum investments start at $7,500 for those storing precious metals in their IRA. Otherwise, the minimum investment is $1,500 for other precious metal purchases with Oxford Gold Group.

Oxford Gold

Augusta Precious Metals

Augusta Precious Metals offers precious metals cash purchases and gold and silver IRAs with a minimum investment of $50,000. Since its gold and silver IRAs are self-directed, Augusta Precious Metals does not charge management fees. IRA clients can also choose which depository their gold and silver are stored in.

Augusta Precious Metals Learn More

Advantage Gold

Advantage Gold helps clients acquire physical gold and silver for direct delivery or an IRA. The firm charges up to $175 for yearly storage and custodial fees. Featured IRA coins include American Eagle gold, silver and platinum coins. Customer services include education and resources about investing in precious metals.

Advantage Gold Learn More (714) 912-8807


Goldco offers brokerage services between clients and trusted vendors. The company does not offer storage or custodial services but instead helps facilitate transactions and connect clients with financial institutions for their precious metal investments. Annual fees are up to $225 per year for IRA accounts. It is a fast-growing company and an option for clients who want to invest in a tangible asset instead of owning stocks.


Lear Capital

Lear Capital assists clients in Iowa and nationwide with rolling their traditional IRAs over to precious metal IRAs. Clients are assigned a company representative to help with their investments. The company does not charge a penalty for the transfer from one IRA to the next, but there are storage fees. The annual fee is $180 for insurance, shipping, quarterly financial statements and 24/7 online access to your account.

Lear Capital

J&J Coins and Collectibles

J&J Coins and Collectibles sells coins, currency and precious metals. The business also buys gold and silver jewelry in all conditions. It’s an authorized dealer with the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Services (PCGS). J&J Coins and Collectibles is located at 901 S. Cecelia St., Sioux City, IA 51106.

J&J Coins and Collectibles

Thorpe & Company Jewelers

Thorpe Jewelers has been in Sioux City for over a hundred years. The business employs on-site goldsmiths. Find unique rings, necklaces, earrings, bracelets and pendants alloyed in white, yellow and pink. The company also buys old jewelry from estates. Thorpe & Company Jewelers is located at 501 Fourth St., Sioux City, Iowa 51101.

Thorpe & Company Jewelers

Pioneer Pickers

Pioneer Pickers buys, sells and trades a variety of items, such as coins, coin collections, currency, gold, silver, jewelry and scrap metals. If you can’t make it to the store, someone from the business can come to you and look at and purchase items. Pioneer Pickers is located at 408 Fourth St., Sergeant Bluff, IA 51054.

Pioneer Pickers

Mel’s Pawn Shop

Mel’s Pawn Shop has been serving the Sioux City area since 1975. The shop brings in new merchandise regularly and provides cash loans. It can offer fair prices for gold and silver and give you cash right on the spot. Mel’s Pawn Shop is located at 1019 W. Seventh St., Sioux City, IA 51103.

Mel’s Pawn Shop