Goldco Review
Mary Hartley | July 6, 2021
Goldco Precious Metals IRA Review
Disclosure: The owners of this website may be paid a commission to recommend Goldco. The information herein, including the positive review of Goldco may not be independent or neutral.
Are you looking for a way to protect your retirement and investments from government over-reach, spending and a unstable stock market?
Then, precious metals should be a consideration to add to your portfolio. Unlike fluctuations in the stock market, gold and silver are not affected by those changes and can actually increase in value when the market takes a dip.
Goldco has the highest percentage of positive customer reviews (93%) of any precious metals company.
The company will pay for the first year of storage fees with a deposit of $25,000 or more. The important thing to note here is that the customer will be paid in the form of silver of the same value. The customer will need to pay the up-front fees, which are $175 per year for $25,000. This silver is also not a part of the client's IRA.
Gold and Silver Individual Retirement Accounts
The fundamental truth:
With over a decade of experience, Goldco is one of the leading providers, if not the top provider, of precious metals and a firm that transfers all or a portion of your traditional IRA into precious metals IRAs, including a gold IRA or a silver IRA. They can help investors open their own self-directed IRA (SDIRA) too. Originally, they were called Goldco Direct before their name was officially changed to Goldco.
For those who take advantage of Goldco investing, Simple IRA Planning is offered and they will explain the rules that are in place for opening one for a gold or silver IRA as well as the rules for SEP IRAs.
These IRAs are retirement accounts that operate in the same way with tax advantages for those saving for retirement as traditional and Roth IRAs.
In 2021, they were honored as the company of the year at the American Business awards with the Stevie award for their achievements over the last year that included recognition for the company being “an excellent precious metals firm which offers customers exemplary service for those who are interested in diversifying their retirement portfolios.” They go above and beyond in customer service in their ability to help individuals diversify their retirement savings accounts than other gold IRA companies to secure their financial future.
When you are looking for a time-tested and proven asset that can provide stability to your investments, you should look at a company like Goldco. Their customer service is exemplary and they specialize in helping customers identify which precious metals are right for them.
Goldco Fees
On Trustpilot, Goldco has 586 customer reviews with 99% rating the company Excellent or Great. This is an incredible statistic for an investment company.
On the Better Business Bureau (BBB) website, Goldco has earned an A+ rating and has a 4.9 out of 5-star customer rating based on one hundred and thirty-four (134) Goldco reviews. They have no negative comments by name on the Consumer Financial Protection Bureau and they have the best rating available with the Business Consumer Alliance (BCA) with a triple-A rating.
Goldco Reviews by Clients
One thing is abundantly clear… customers on the Better Business Bureau website rave about Goldco’s IRA Specialists. Several Goldco reviews mention team members by name saying they are “very friendly, knowledgeable and treat you with respect.
Ask any question and you will get an answer.” Clients appreciate having their own personal IRA Specialist who works directly with their old custodian to get your funds rolled over. You don’t have to move the funds yourself.
Once your account is set up, your specialist even exchanges some of your paper-backed assets for physical ones. Many customers claim the Goldco team makes the entire process “pleasant and seamless.”
Other reviews say they’re “easy to reach by phone” and always answer every question in detail. Simply put, the company offers unmatched customer service—especially in the IRA rollover process—and its one reason why customers are proud to be apart of the Goldco family. As with any investment, past performance is not a guarantee of future performance results.
According to Consumer Affairs, they have a 4.8 rating out of 5.0 with 500 customer reviews.
What Sets Goldco Apart As One Of The Top Gold Investment Companies?
New customers are given two special offers when they have a minimum investment amount of $50,000
1. All account fees for the first year are set aside
2. You earn back 5% in free metals when purchasing precious metals depending the metals you want to buy
If you do the math on these offers, you will find that you will get $2,500 in free metals and save right around $320 in annual fees
Highly Personalized Service
Goldco is known to have customer service that is second to none and one of the reasons they won the Stevie awards in 2021. Their representatives are not pushy, rather they do their best to ensure the investment you make is the one that is best-suited for you. They will assist you every step of the way as only certain coins are approved by the IRS to be included in gold IRAs.
Low Fees
Goldco’s low fee model keeps more money where it belongs—in your pocket. For precious metals IRAs, you’ll pay as low as $260 your first year, then $180 every year after that. For non-IRA transactions, you will pay $0 in Goldco's fees. That's pretty impressive. Firms that offer other precious metal IRAs have larger fees and costs than you will find with Goldco.
Goldco Gold IRA Rollover Guide
If you have an existing traditional IRA retirement plan, then please take a look at the Goldco gold IRA rollover guide that makes the rollover process of your existing IRA quick and easy. They offer brokerage services for these traditional retirement accounts that looks something like this:
You will open a new Goldco IRA with the help of a personal gold IRA specialist. Just like traditional IRAs, there are certain restrictions on opening an IRA. Your customer service specialist will ensure that the deposit and disbursement laws are followed.
When the funds are moved to your gold IRA account from your old account, your specialist guides you in choosing the precious metals that suit your financial goals.
Your IRA Specialist guides you through every step of the rollover process, which typically takes about 10 business days. They will send you a brochure either by mail or by email with your precious metals options.
Buyback Program for Collectible Coins
Ready to sell your precious metals? Goldco will happily buy them back from you. This is good news for investors as you’ll likely receive a higher price than you would from random gold coins or silver coins dealers who’s known for lowballing offers. In your IRA, you will see a melt value. This is how much the coins are worth if they were to be melted down.
You’re not required to sell your metals back to Goldco, but you’ll save yourself a headache and likely get a better deal than you would elsewhere.
Extensive Educational Resources
Goldco has an extensive education center on its website, which aims to keep investors informed on precious metals and gold IRAs as well as the silver IRA. It has an in-depth blog that covers a range of topics, including recessions, trade wars, the debt bubble, and more.
There are several ebooks you can download, including The American IRA and 401(k) Crisis, 10 Reasons Why The Dollar Will Crash, and a 12-page gold IRA investment guide. If videos are more your thing, Goldco has a comprehensive list that dives into topics like retirement planning threats, dollar fluctuation, stock market crashes, the oil crisis, and more.
You can view live price trackers for gold, silver, platinum, and palladium directly on its website. And as always, customer support is happy to help you answer any questions or concerns you may have.
State Of The Art Storage Options
IRS regulations require that you keep your physical precious metals at an approved precious metals depository. The storage providers that Goldco uses have state of the art security and technology. Goldco does not store your metals themselves, but they facilitate that process with an IRS approved depository with the gold and silver IRAs that you purchased. IRS rules do not allow IRA precious metals to be kept at home or in any type of security box outside of a depository.
What Gold Storage Providers Does Goldco Use?
Storage providers Storage type Annual storage cost Delaware Depository (preferred) Non-segregated $100 Brinks Salt Lake City Non-segregated $100 IDS Texas Segregated $100.
By default, Goldco stores your precious metals at Delaware Depository. This renowned depository has over 200 years of experience in the precious metals market, state-of-the-art security systems, and Class 3 vaults. But you can request another storage facility if you’d like to keep your physical precious metals somewhere else.
How to Set Up an Account with Goldco
This is the step-by-step process from the initial contact with a customer support representative to the IRA rollover and choosing your precious metals. During Step 4 listed below, Goldco will give you a handout with a list to the precious metal IRAs that you can choose from to add to your portfolio and one that will help you make an informed decision. As with any type of investment in gold IRAs, silver IRAs or other precious metal IRAs, there is a certain amount of risk. You should make your investment decisions taking into account your own personal circumstances.
You're all set!
If Goldco has your metals in stock, they’ll transfer them to your chosen depository within a few business days. If they’re not in stock, they’ll show up within a few weeks. Then, you'll be ready to go and you can check off precious metals IRAs as part of your financial portfolio.
Goldco has a number of services they offer to potential clients. The ones of course that stand out are buying and selling the physical precious metals that it has available. But, there are more that you might like to be aware of, too. One of the other services that Goldco offers is a market system. It is a first-rate system that is offered and available to clients once they have signed up to do business with the company.
THINGS YOU NEED TO KNOW
As it is with any company that invests in physical precious metals, it can be a complex process if you don't work with the right people, and that means the information you're given to make a wise financial decision is crucial. In 1997 a new law took effect that made it legal to invest in certain types of precious metals. The new law was called The Taxpayer Relief Act of 1997.
Due to this new law, it opened up many more retirement and investment options.
Goldco has long been a company known for its expert customer service and quality. In 2021, they were presented with the Stevie award as one of the top businesses in the United States. The company works with many precious metal custodian companies to assist with rollover services to new customers.
There are many companies that invest in gold and silver and other precious metals, and ones that assist in the 401 k rollover process, but Goldco is at the top of our list when you're looking for a knowledgeable company to work with and take the hassle out of getting the job done well. To have an idea of what other companies offer, we go over the pros and cons of the best gold IRA companies.
Whether you already have a retirement investment account that you want to add precious metals or you want to buy them directly, Goldco has the expertise you need and the customer service you'll love.
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