How do you know when a company is reputable? Is it worth investing in gold? These are the types of questions that investors ask themselves before they make their first investment. Goldco has earned national recognition as one of the most trusted names with impressive growth in the industry. This blog post will give readers a full review of Goldco to help them answer these questions for themselves.
This article covers pros and cons, features, reviews from others who have used it, and tips on getting started efficiently with the investment process.
Goldco’s Background
Goldco (formerly Goldco Direct) is one of the most established precious metal companies on the market today. The company offers a wide variety of brokerage services and operates within all Internal Revenue Service (IRS) guidelines.
Goldco was founded by finance and precious metals expert Trevor Gerszt in 2006. Located in Woodland Hills, Los Angeles, CA, the company is a privately held retirement services company specializing in wealth and asset protection. The company was named the Number One Gold IRA Specialist Provider in the nation by Inc. 5000.
Goldco is rated A+ by the Better Business Bureau and has a Triple-A rating from the Business Consumer Alliance. Since the establishment of the company, the majority of customer reviews received by Goldco are positive. The majority of customers have rated the company on the high-quality service it offers and the quality of its products.
Goldco Review Summary
Goldco offers a wide variety of retirement investment accounts such as traditional, self-storage IRAs, IRA, 401(k), and 403(b) rollovers. The company facilitates buying and selling precious physical metal while providing a host of other investment services that you can take advantage of.
Investing is always a tricky and overwhelming process, and the right information is key to making correct investment decisions. That is where Goldco IRA team excels at. They employ some of the best investment experts in the industry who will advise you on how to invest in precious metal and roll over part of your portfolio to gold and other precious metal IRAs. The team’s transparency, education materials, and dedication help make their clients feel at ease with their investment.
The only downside is that they require a minimum deposit which is higher than some of the competitors. However, their track record, exclusive benefits, and customer satisfaction ratings easily make up for the tradeoff.
Pros
- 10% back in silver coins for new customers
- The company is beginner friendly and very knowledgeable
- Great track record
- Extensive education materials available to their clients
- Great customer support
Cons
- A small selection of precious metal products
- The minimum investment is high compared to its competition.
Products And Services
Converting a part of their retirement investment to gold and other precious metal IRAs has become an increasingly popular trend with many retirement investors and retirees in the past few years. Whether you want to convert part of your traditional retirement account funds to gold or silver IRAs or purchase gold and other precious metals for personal investment, you don’t have to look further than Goldco.
Physical investments like Precious metals are not as volatile as stocks and bonds – making it an attractive option. Precious metal investment is a great way to grow your retirement funds over time.
Goldco is well-known for its silver and gold IRAs. Cryptocurrency IRA is another popular product offered by Goldco.
The company also has non-retirement accounts if you plan to invest in precious metals outside of a retirement account.
The company acts as a broker between custodians and investors and educates/assists customers with rollovers. Goldco chose Equity Trust Company as the preferred precious metals IRA custodian. Here are some of the popular products/services offered by the company:
- Goldco Gold IRA – Opening a gold IRA account can be daunting. But the assistance you get from the precious metal experts at Goldco makes the entire process relatively easy. Not all IRAs will let you add precious metal to your portfolio. You should set up a self-directed IRA to begin investing in gold. A legal custodian should hold the precious metals in a government-approved depository once you make the rollover.
- Silver IRA – Just like Gold, a self-directed silver IRA can shield your retirement funds from stock market threats. If you are already contributing to a conventional IRA, you can directly transfer the existing IRA funds into a silver IRA.
- 401(k) Rollover – A 401(k) rollover is an option that has numerous tax benefits. You can gain a greater level of control by rolling over 401(k) to IRA. An alternative asset IRA allows you to have a broader range of investment portfolios, including stocks, bonds, precious metals, cryptocurrencies, properties, and ETFs.
- Traditional And Roth IRA Planning – Any employee earning a regular income and is below 70 ½ years can open a traditional IRA. Opening a Roth IRA is more restrictive. If you are a single individual filing taxes and earning less than $132,000 annually, you are eligible to open a Roth IRA. Married couples who are earning less than $194,000/year can open a Roth IRA.
- Crypto IRA – If you are interested in digital currencies, Coin IRA, Goldco’s sister company, offers multiple options of popular crypto coins that can be included in your portfolio.
Here are some of the Gold Coins And Bars offered by Goldco:
Silver Coin And Bars selections offered by Goldco:
Palladium
Platinum
Goldco Precious Metals Storage
Goldco works with a wide variety of storage and custodian companies to store your precious metals and assets. For personal investments, you may also choose your own storage facility company. Here are some of the storage providers Goldco IRA team works with and the respective the storage fees :
- Brinks Salt Lake City charges $100 for non-segregated storage
- DDSC charges $100 for non-segregated storage
- IDS Texas charge $150 for segregated storage
Goldco offers its customers options for safekeeping their metals in either one large container with each unit’s contents marked with a unique investor ID (segregated) or mixed into one larger vault (non-segregated).
All these providers have a very sophisticated secure vault system and other security devices to protect your investments in each storage facility. They also include advanced security systems & adequate insurance to cover any eventualities, providing investors with peace of mind.
Customer Service
The customer service of the company is top-notch. The majority of customers have rated Goldco highly for its customer services and product quality. Many customers testify that they could easily contact the company’s customer service representatives via phone, email, or the contact form on their website.
On the other hand, the information provided on the company’s website is extremely valuable and helps make the client feel at ease with his/her investment.
Reputation, Ratings, and Complaints
The majority of Goldco customer reviews have been positive since the establishment of the company. The quality of products and customer service of the company is rated highly by customers.
The company is A+ rated by the Better Business Bureau with zero complaints over the past three years. They have a Triple-A rating with zero complaints over the past three years by Business Consumer Alliance (BCA). Notably, Inc. 5000 rated the company as the #1 Gold IRA Provider in the nation.
However, there have been a few negative reviews of the company in the past. Much of this was driven by a misunderstanding on a client’s behalf, and Goldco did a great job resolving the confusion.
The list below sums up some of their recent achievements:
- It has a 4.9/5-star rating on Trustlink
- A+ rating with the BBB
- Zero BBB complaints over the past three years
- Zero BCA complaints over the past three years
- AAA rating with BCA
- Rated #1 Gold IRA Provider in the nation by Inc. 5000
Goldco Fees, Metal Costs, and Deals
The minimum investment required for gold or silver IRAs is $25,000. The minimum investment for non-IRA transactions is $3,500. The one-time setup fee for IRA is $50, and the wire fee is $30. The annual maintenance fee is $80, while the storage fee is $100 for non-segregated & $150 for segregated.
The company will reimburse the cost of storage for a year for investments of more than $50,000. If you are a new customer, you will also get 5% back in free metals (silver) credited to our account.
The price of gold and other metals fluctuates daily. Goldco’s website has a section called price tracker which lists the market prices and updated frequently. The company offers a competitive price and flat markup fee.
How To Open A Goldco Precious Metals IRA Account?
You can open a precious metal IRA with Goldco over the phone or online. The process can be time-consuming at times, and the IRA specialist will assist you throughout the process. You should have your personal identification information (such as your social security number) on hand when opening an IRA account with Goldco.
Here are the steps to open your gold or silver IRA account:
- Open a new account, transfer, or rollover an existing account with the help of Goldco’s IRA specialist team.
- Fund your account with money transfers or other listed methods.
- Purchase the precious metal. The IRA specialist team will advise you on the most appropriate selection of metals based on your situation. You are free to make the final decision.
- The chosen metals will arrive at the depository within 3 to 4 weeks.
Goldco will assist you throughout the process by assigning an accounts executive to handle the rollover. On your part, please be prepared to fill up a form or two with all the necessary information.
FAQ
How long does it take to roll over a Traditional IRA into a Gold IRA?
It will take about two weeks for the process. The exact amount of time taken for the process can vary depending on each application. A dedicated Goldco Gold IRA specialist will help you gather and complete all of the necessary documents for your rollover.
Can I choose any custodian and storage company, or do I have to use Goldco’s recommended companies?
Goldco uses Equity Institutional & Self Directed IRA as the custodian of your precious metal IRA. But for non-IRA transactions, you should be able to use almost any storage services company you want to.
Are the values of the precious metals I buy for my IRA guaranteed?
The value of precious metal isn’t guaranteed. The price of gold and other metals can fluctuate depending on the market conditions. But the fluctuations are relatively minor compared to stock market volatility or assets like stocks and bonds. Also, precious metal values tend to stay relatively stable over time.
Conclusion
If you plan to diversify your retirement portfolio with a precious metal IRA, you have made the right decision. There are many advantages to diversifying your retirement portfolio with gold or silver IRAs, such as tax breaks, wealth appreciation, financial stability, and diversification.
Goldco is a trusted name in the U.S. when it comes to diversifying your retirement investment portfolio with gold and other precious metal IRAs. Some of the many benefits of investing in Goldco Precious Metals IRA include working with a company that has 15 years of experience and thousands of satisfied customers. You are also getting top-notch IRA specialists and advisors to help you with whatever questions you might have. The company works efficiently to simplify the logistics and paperwork on our behalf.
Call Goldco today to get the free information kit to get started with your gold IRA rollover.