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If you're searching online for a gold IRA company, you've likely seen Regal Assets prominently displayed on conservative news websites and online advertisements.
Regal Assets was at one point, an established U.S. based dealer that sold both gold and crypto IRAs. But is the company legit?
2023 Update: Due to rising complaints against the company and Regal Assets' F Rating with the Better Business Bureau, we highly recommend finding an alternative to Regal Assets for your gold IRA needs.
There are allegations that the CEO of Regal Assets has stolen millions of dollars from customers. Click here for more information.
Recent article in the Daily Beast
The corporate website is now also offline and the former CEO is believed to have left the United States.
There are plenty of other companies to choose for your gold investment needs.
We are currently working on updating the review below to reflect the shocking news that is being reported about this company.
Regal Assets
Launched in 2009, Regal Assets offered both precious metals and cryptocurrency IRAs to clients in all 50 states. The company is out of business. Find a gold IRA company here.
reputation
pricing
customer service
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Regal Assets Review
Launched on a shoe-string budget in 2009, Regal Assets was at one time a global precious metals firm with offices in Canada and the United Kingdom. Regal Assets was an INC 500 company with thousands of customers across the United States alone.
At one point, Regal Assets had thousands of 5 star reviews on verified customer review websites like TrustLink and BirdEye.
Regal Assets was featured in financial publications such as Bloomberg, Smart Money, Reuters, The Street, and the company's CEO was a contributing member of the Forbes Financial Council.
When in business, the company had competitive custodial and storage fees. They were also competitive with the pricing on your precious metals with some of the lowest commissions in the industry.
For years, they were also the only precious metals IRA dealer that could facilitate both precious metals and cryptocurrencies in the same self-directed IRA account, making them one of the only true "alternative assets" IRA companies in the business.
Today, iTrustCapital has filled this void, offering both metals and crypto to their customers.
Why you should avoid Regal Assets:
Unfortunately, the company is now out of business. Regal Assets' reputation has taken a major hit in the last year. The company has an F rating with both the Business Consumer Alliance and the Better Business Bureau.
Customers are claiming CEO Tyler Gallagher has stolen money meant for their IRA investments.
We've reviewed 25+ gold IRA companies and only recommend a short list (six companies) to our readers. We suggest that you find an alternative company for your gold or crypto IRA.
We update our list regularly. Click here to see our full list of best gold IRA dealers.
What is Regal Assets?
Regal Assets was launched by Tyler Gallagher in 2009. As mentioned above, Tyler Gallagher launched this company on a shoe-string budget of only $5,000. In its early days, Gallagher wore every hat, from CEO, to account executive, to receptionist.
Gallagher came to the U.S. from Canada with little more than the clothes on his back. Within three years, INC Magazine ranked Regal Assets #20 on their INC 500 list of fastest growing private companies in the U.S.
In 2017, Regal Assets expanded into cryptocurrencies. Between precious metals and cryptocurrencies, customers had a wide selection of investment options that made Regal Assets unique to some of the other players in this industry.
Tyler Gallagher, Founder & CEO
Products and Services
Regal Assets' business was almost exclusively dedicated to opening and facilitating precious metals IRA accounts for U.S. customers. They served private and institutional customers all over the world, but their focus was in helping Americans roll over money from a 401(k) or IRA into precious metals.
Regal Assets had a wide selection of IRS-approved bullion bars and coins. It's important to know that the IRS considers most gold, silver, platinum, or palladium coins as collectibles. Americans cannot hold collectible coins in an IRA.
The company had account reps that assisted in selecting IRA-allowed bars and coins. Like other companies in this industry, they followed self-directed IRA tax rules for more than a decade before the company folded. Regal Assets had a large selection of gold, silver, platinum, and palladium products.
Some companies limit their products to gold and silver. Regal Assets made available just about any IRA-eligible coin or bar that customers were interested in buying.
Here is just a sample of the products Regal Assets offered their customers:
- Gold American Eagles
- Gold American Buffalos
- Gold Canadian Maple Leafs
- Gold Austrian Philharmonics
- Gold Chinese Pandas
- Gold Britannia Coins
- Silver American EaglesSilver Australian Kookaburras
- Silver Australian Koalas
- Silver Canadian Maple Leafs
- Platinum American Eagles
- Platinum Canadian Maple Leafs
- Palladium Canadian Maple Leafs
- Credit Suisse Gold, Silver, Platinum, or Palladium Bars
Before going offline, Regal's website showed a selection of gold, silver, platinum, and palladium bars and coins.
Again, due to the accusations made against the company, their decline in ratings and volume of customer complaints, we suggest that you find a different company for your metals or crypto purchase.
Click here to request information from a trusted gold dealer.
The focus on this Regal Assets review is to reveal what the company offered when they were in business. Their priority was in gold and silver bullion for inclusion in IRAs. As mentioned above, the company did also offer a wide selection of cryptocurrencies for their customers.
Through a partnership with Coinbase.com, Regal Assets offered customers all coins available on coinbase for self-directed IRAs. This was convenient for retirement savers that wanted both metals and crypto.
Gold IRA Fees and Pricing
When in business, Regal Assets negotiated competitive fees for your gold IRA. A gold IRA requires three parties:
- The precious metals dealer (Regal Assets)
- The self-directed IRA custodian
- The vault storage facility
With Regal Assets, you would have paid $90 annually for your custodial fees and $100 annually for storage in an IRS-approved vault. These fees were paid directly to the storage and custodian and not to Regal Assets.
Regal Assets would facilitate the initial set-up of your account, and work as a liaison between the custodian and the storage company to ensure your metals are purchased, shipped, and stored in compliance with the IRS.
Before shutting their doors for good, Regal would run promotional offers that covered 100% of IRA fees for the first year of opening your new account.
How did Regal Assets get paid?
Regal Assets would source your precious metals at wholesale cost and sells to customers at a competitive retail price. The difference or "spread" between the wholesale and retail price of your precious metals is how Regal Assets and other gold IRA companies made a profit. They served as a gold seller and didn't charge additional fees for the admin of customer accounts.
Related: 9 Best Gold Coins to Buy as Investments in 2023
Regal Assets Buy-Back Program
Like many of their competitors, Regal Assets offered a buyback program for customers that needed to sell their metals. Regal Assets claimed they were willing to buy back customer metals at any time.
While all of the companies offer a buy-back of your metals, most of them charge a fee for this. Regal Assets did not add fees for this.
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Regal Assets Complaints, Ratings, & Reviews
In the last year before eventually closing, negative reviews began to pour in against Regal Assets.
Websites like the Better Business Bureau and Business Consumer Alliance help make the internet transparent. Bad actors are easily sniffed out as anyone can log on and write a damaging complaint.
- The Business Consumer Alliance - Regal has an F rating.
- Better Business Bureau - Regal Assets currently has a F rating with three complaints filed against them in the last three years.
- TrustPilot - Regal Assets has a 1.7/5 star average rating based on 22 customer reviews.
Regal Assets Review
In 2022, more Americans are seeing the benefit of diversifying with alternative assets like precious metals. As demand grows, new gold IRA specialists are opening up shop every day. The market is ripe for this as recessions, record-breaking inflation, and TRILLIONS in new government spending cripple the U.S. economy.
Don't work with a fly-by-night company that may not be in business in five years. Find a reputable gold IRA company that's been in the game for a while and knows what they're doing.
Regal Assets is out of business and the former CEO is not to be trusted.
Based on their online ratings with the BBB and the BCA, along with a recent surge of online complaints, it seems many customers have lost their money with Regal Assets.
There are several top rated gold IRA companies in the U.S. to choose from for your precious metal purchases. We suggest you not risk it. Don't get anywhere near this company, and instead explore other options.
