Goldco Precious Metals Review 2022
If you’re interested in Gold IRA investing, then you’ve probably already heard about Goldco!
Goldco is by-far the most prominent precious metals dealing company today. If you think we’re jesting, then you definitely need to read this article in its entirety as we uncover layers of information about this dealing firm.
By reading this in-depth review until the end, you’ll find out why so many clients love investing with Goldco and what potential benefits you can get by working with them. Don’t be surprised, though, you might decide to join thousands of others who have let Goldco protect their retirement savings.
With that said, allow us to cover all you need to know about investing with Goldco. We won’t miss a thing, that’s for sure! We’ll look at the company’s background, products and services, and ultimately its reliability in the market. Let’s get right into it!
Goldco Pros and Cons
To give you a quick overview, here are the major pros and cons with Goldco investing.
Pros
Cons
Our Goldco Category Rating
We researched the top-rated dealers in the industry to determine how Goldco performs against the competition. Here’s how we rated its operations.
Products & Services | 4.9 |
Pricing | 4.7 |
Customer Support | 5 |
Company Expertise | 4.8 |
Customer Feedback | 4.7 |
Overall Rating: | 4.8 |
What You Get Investing With Goldco:
Quick Summary: Why We Recommend Goldco
Overview: Based in Woodland Hills, California, Goldco is a leading precious metals broker that focuses on providing assistance in rolling over traditional accounts into gold and silver IRAs. With its excellent scores on customer service and long service of over 15 years, it’s safe to say that Goldco is one of the most reliable asset protection agencies today.
4.8/5 Rating
What We Like: Non-pushy advisors, knowledgeable and friendly staff, streamlined account set ups, free storage for non-IRA investments, highest buyback prices
Promos: Get $10,000-worth of free silver by opening a qualifying IRA. Learn more.
About Goldco
As you may have already known, Goldco is a top-rated company in direct purchases of silver and gold. And like any other brokerage firm, they assist clients in setting up and managing precious metal funded retirement accounts.
Not only is Goldco hailed as a trusted investment source all over the United States, the company is also well-known for offering reliable resources that help people get started with precious metal investing for their retirement.
Along with gold and silver IRAs, the firm specializes in helping investors diversify their IRA, 401k, TSP, savings and other tax advantaged accounts to protect their wealth. Goldco has been helping individuals achieve proper financial security for over 15 years, and has protected billions in savings for retirement since then.
Advertising Focus and Purpose
Goldco's advertising focuses on quality customer service, dependability and ethical business practices. With its prompt and professional assistance in all its IRA services, they have left thousands of customers satisfied and were able maintain positive feedback on various third-party sites.
Goldco Products and Services
Goldco offers quite a range of services for their clients. With these, being split across various categories.
As mentioned, the company focuses on assisting clients roll over their traditional retirement accounts into gold and silver IRAs. They also provide brokerage services for buying and selling precious metals.
Below is a brief breakdown of Goldco’s products and services:
• Precious Metals IRA
You can set up a gold or silver IRA with Goldco. This is similar to a conventional IRA, except your account will be funded with precious metals.
• Roth and Traditional IRA Planning
Goldco has an abundance of resources and knowledge to assist you in diversifying your Roth and Traditional IRA portfolios.
• Simple IRA Planning
Its team of specialists will walk you through the entire process of establishing gold and silver Simple IRAs.
• SEP IRA Planning
If you’re looking to learn more about SEP IRAs, Goldco has information and knowledge on qualification criteria and contribution restrictions.
• Buying Physical Gold and Silver
If you’re more into collecting than investing, Goldco also offers the option to buy coins and bars outside an IRA.
Goldco Featured Gold and Silver Products
Goldco provides a wide range of gold and silver bars in different weights, 13 different kinds of IRA-approved gold coins and 18 kinds of IRA-approved silver coins. Below we list some of the most popular options from clients.
Goldco provides a wide range of gold and silver bars in different weights, 13 different kinds of IRA-approved gold coins and 18 kinds of IRA-approved silver coins. Below we list some of the most popular options from clients.
Gold American Eagle Type 1
Struck from 22 karat gold by the US mint, the 2021 Gold American Eagle is available in 1 oz, ½ oz, ¼ oz, and 1/10 oz.
Gold Australian Striped Marlin
The Australian Striped Marlin coin is available in ¼ oz and is struck by the Perth Mint from 99.9% pure gold.
Canadian Gold Maple Leaf
Minted from 99.99% pure gold by Royal Canadian Mint, the 2021 Gold Maple Leaf is now valued at $50 CAD.
Silver American Eagle – Type 1
The 2021 Silver American Eagle is minted from .999 pure silver by the US Mint. It’s now valued at $1 and is available in the form of 1 oz.
Silver Australian Spotted Eagle Ray
Struck by The Perth Mint, the Silver Australian Eagle Ray is made from 99.99% pure silver and is available in 1.5 oz at Goldco.
Silver Great Barrier Reef
This special coins pays homage to the Great Barrier Reef of Australia and is struck from 99.99% pure silver.
Goldco Account Minimums and Fees
Goldco does not specify its fees and pricing on their website, but we spoke with a representative and they shared with us the firm requires a minimum of $25,000 investment for a gold or silver IRA account and a minimum of $3,500 for a non-IRA transfer.
When it comes to annual costs, you’ll need to account for an $80 maintenance fee plus another $180 for storage and insurance. Once your investment reaches the $100,000 investment limit, your annual cost will likely increase. At this level, you will be charged $225 for storage fees, excluding the custodianship and insurance.
Here’s what to expect when investing with Goldco.
Minimum IRA Investment | $25,000 |
Minimum Non-IRA Investment | $3,500 |
Annual Custodian Fees | $80 |
Storage & Insurance Fees | $180 $225 (above $100,000 investment) |
Set Up Fee | $50 |
Shipping | Varies per custodian company |
Promotions
Based on our research, Goldco offers the following promotions. However, it’s important to speak with a sales representative first to make sure these are still offered.
1st-year fees waived on qualified transfers exceeding $50,000
5% back on free metal orders exceeding $50,000
10% back on new clients in silver coins
$50 payment fee for first time gold IRA investors
$10,000 worth of free silver for new and qualifying gold IRA
Goldco Storage Options
Goldco works with three preferred storage facilities:
DDSC: offers non-segregated storage for a fee of $100
Brings Salt Lake City: offers non-segregated storage for a fee od $100
IDS Texas: offers a segregated storage for a fee of $150
The IRS stipulates that you store Precious Metals acquired through an IRA at an eligible facility. The storage providers above are not only authorized, but offer high class vaults with state of-the-art security as well as appropriate insurance policy to insure against any investment violation.
Goldco Reviews and Disputes
Below we compiled customer reviews from third-party rating companies. As we researched, we found quite a number of client reviews for Goldco. Here’s what the crowd are saying:
Google Reviews
Goldco earned an average of 4.9/5 stars from Google Reviews. Majority of clients were pleased with the company's exceptional advisors. People are saying they had a very comfortable experience while working with Goldco. Some also commended the firm for its generous promotions.
But just like any other well-established companies, Goldco also received quite a few criticisms. Many investors did not like the lack of price transparency and high minimums for opening an account.
4.9/5 Rating
Better Business Bureau (BBB)
The company received a 4.83/5 stars from BBB. Within the last 3 years, 18 complaints were filed against Goldco, of which it is actively resolving. A lot of these issues involved a misconception on the value of collectible coins. Few customers have complained their investment had no intrinsic value when they inquired with other websites. This, however, was already addressed by Goldco, explaining that the listed value of a collectible coin is based on the melt value, which is distinct from its market value in solid form. (If you have concerns regarding this information, you should reach out to a Goldco representative for better guidance).
Majority of the clients, however, commended Goldco’s support team and were satisfied with the streamlined account set up.
4.83/5 Rating
Consumer Affairs
Goldco also shows a satisfactory 4.8/5 rating in Consumer Affairs. Many clients appreciated its beginner-friendly filing process and were happy with the team’s friendly approach.
You can click on the links below to see the actual review yourself.
4.8/5 Rating
More GoldCo Reviews
4.8/5 Rating
4.8/5 Rating
3/5 Rating
Opening a Gold IRA with Goldco
Setting up a gold or silver IRA with Goldco is quick and easy. Just follow the steps below and you’re good to go!
The next step is to roll over your assets from your existing account to fund your gold or silver IRA. For instance, your 401K, TSP, or savings can all be transferred, and normally don't imply any tax consequences.
Once your new gold or silver IRA is funded, you can now select which type of metals you’d want to include in your portfolio.
FAQs on Goldco Investing
Yes, you can buy physical gold or silver directly from Goldco. They even apply the same quality of care as they would when dealing with IRA eligible products.
Goldco requires a minimum of $25,000 for IRA investments and a minimum of $3,500 for non-IRAs.
You can sell back your holdings with Goldco’s buyback program, which is known to offer the highest prices in the industry.
According to the IRS, you can start taking distributions from your IRA account once you turn 59 ½. Once you reach this age, you are allowed to take withdrawals either in the form of cash payment or the precious metals itself.
Yes. While Goldco does work with a few custodian and storage companies, this doesn’t mean you only get to choose from these options. Instead, you are free to choose your own preferred facility with which you feel the most comfortable working with.
Goldco Review: The Bottomline
We believe Goldco has earned its place as the most reliable and customer-friendly gold IRA provider in the industry.
First off, the firm offers unparalleled customer service and streamlined IRA rollover process. Apart from IRA specialists that walk you through from start to finish, the entire procedure of starting a new IRA account is designed to be quick and pain-free.
What’s more, if you want to make a direct purchase, you will have an account executive to make sure your precious metals are shipped to you on time.
Overall, apart from the lack of price transparency and a higher minimum for IRAs, we found no major discontent with this firm and its stellar customer care. Their generous promotions, high buyback prices, affordable annual fees, and well-established customer base makes them one of the safest and most reliable options for newbie investors.