Are you thinking about starting your precious metals investing journey with Goldco? Read this information before you get going.
In the grand scheme of things, Goldco is a highly regarded and well-established organization in the precious metal space. Because of their great accolades, I decided to match them up against the other top gold IRA companies out there right now. Understanding the company’s reputation and offerings is crucial, which is why this Goldco review 2024 is important.
After digging through layer upon layer of information, I discovered some amazing things, including that Goldco is undoubtedly the best company in this industry.
Unfortunately, like any other industry, I discovered that the precious metal space has a couple of bad apples in the bunch. Which is why I decided to investigate Goldco in the first place, just to make sure they are on the up and up.
As you read through this review and make it all the way to the end, you’ll see whether or not Goldco is the best fit to meet your personal investing needs. There are many positive accolades and attributes to working with Goldco, but there may be a couple of drawbacks too.
I did hold back on anything, which you’ll discover as you read through this article. You’ll find out their fees, their history, and more to make an informed investment decision.
Why share this information? I understand that opening a precious metals IRA is a big step toward your retirement. And many beginners are nervous about making a mistake.
With that said, let’s start this review and see how well Goldco performs.
Annual administration fee – $80 per year
Annual storage fee – $100-$150 per year (co-mingled or segregated)
Goldco waves the first year’s fees for qualifying clients
Qualifying customers ($10,000 invested or more) receive $10,000 or more in Free Silver
Goldco sells IRS approved gold and silver bullion for a precious metals IRA
The customer service staff is helpful, informative, and answers each and every question
My Thoughts on Goldco: I can say with absolute certainty that Goldco is a company that you can trust. Their sales staff and advisors are never pushy, they know their precious metals information like the back of their hand, and they are willing to answer any and all questions no matter how long or detailed the answer. Beginners will feel assured when dealing with Goldco’s knowledgeable staff. Their advisors do a good job teaching you about the right choices to make for your retirement portfolio. I give this company my full and rousing endorsement. Qualifying customers receive $10,000 or more in Free Silver
Goldco Services
Goldco offers a range of services designed to meet the diverse needs of retirement savers. Their primary focus is on providing personalized guidance and support to customers looking to invest in precious metals IRAs. Goldco’s services include:
Precious Metals IRA: Goldco offers a self-directed IRA that allows customers to hold physical precious metals within a retirement account. This service provides a secure and tax-advantaged way to diversify your retirement portfolio with tangible assets like gold and silver.
Direct Purchases: For those who prefer to own precious metals outside of a retirement account, Goldco facilitates direct purchases of physical gold and silver. This option allows investors to buy precious metals for personal possession or other investment purposes.
Rollover Services: Goldco assists customers with rolling over existing retirement accounts, such as 401(k), SEP IRA, traditional IRA, or Roth IRA, into a new Precious Metals IRA. This service ensures a smooth and hassle-free transition, allowing you to diversify your retirement savings with ease.
Storage Solutions: Goldco offers secure storage options for precious metals, including segregated and non-segregated storage. They work with trusted, IRS-approved depositories to ensure the safekeeping of your investments, providing peace of mind that your precious metals are stored in a secure and compliant manner.
Goldco Review: Do I Really Think They Are the Best Gold IRA Company?
I’ll say it with my chest – YES – and this is the reason why I invested with them.
This company goes above and beyond the call of duty and provides excellent services for their customers to make the most of. Obviously, customers are going to purchase and sell precious metals via their website. But there are other services that they offer as well.
As one testimonial about Goldco suggests, this company provides high-quality gold and silver investment opportunities for customers as soon as they fund their account. Many customers highly recommend Goldco based on their personal experiences and satisfaction with the services. Nevertheless, people should be aware of a few things about this outstanding organization before getting started.
First of all, Goldco was founded in Woodland Hills, California in 2006. Instead of investing in traditional stock market investments, bonds, and treasury bills, Goldco provides their customers with a retirement alternative.
They make it possible for future retirees to invest in precious metals via a self-directed gold IRA. This alternative investment opportunity makes it possible to invest in gold, silver, platinum, or palladium. Be warned: Goldco only sells silver and gold on their website. If you wanted to invest in platinum or palladium, you’d have to take your business elsewhere.
Goldco Pros
- New customers receive 10% back in silver coins
- Qualifying customers get their first-year fees waived
- Their sales people and specialists aren’t pushy
- Their team of specialists is knowledgeable and friendly
- Their proficient staff leads customers to making the best decisions for their financial future
Goldco Cons
- Their minimum investment amount is $25,000
- They do not sell platinum or palladium products, only silver and gold
Ron Paul and Goldco Become Like-Minded Partners
Way back in 2017, Goldco and Ron Paul decided to partner together in an effort to provide education to investors about protecting their 401(k) and IRA accounts. You can read the full story on NewsWire by clicking here.
The reason Goldco exists is because of the Taxpayer Relief Act of 1997. Within this act, the IRS made it legal to purchase bullion for precious metals IRA accounts. This resulted in a number of companies springing up to cater to this clientele.
More than anything, this has been a positive situation for precious metals investors looking to shore up their retirement accounts. This is just one more valuable option for creating and protecting wealth.
Out of all of the precious metals IRA companies, Goldco is likely the most notable for many reasons. One prominent reason is that the company offers extra services besides buying and selling gold and silver. Those services are what many investors find very attractive about this company.
Goldco’s extensive experience and credibility in the precious metals market further solidify its position as a leader in the industry.
As an example, Goldco has working relationships with a number of different IRA custodians. These companies offer gold IRA rollover services to brand-new customers. This is how a new customer will open their precious metals IRA account in the quickest and easiest way possible.
Goldco has also received a wide range of testimonials throughout the years. These testimonials prove that Goldco is a great organization providing high-quality services to investors far and wide. Will dig it even further into this precious metals focused firm, by sharing further research and other valuable information.
Beginning Your Investing Journey with Goldco
You likely began your precious metals IRA investing journey, which has gained tremendous popularity in recent years, because a number of factors have driven you to this investment strategy. Volatile bond and stock markets are usually a notable reason for many new precious metals investors.
The increasing popularity of precious metal IRAs as a method for diversifying investment portfolios and protecting against economic downturns cannot be overstated.
Also, Goldco investors are interested in purchasing tangible assets as opposed to paper assets, which many people find attractive.
Goldco caters to just about everybody in this niche with a wide range of different services that all follow the guidelines set forth by the Internal Revenue Service. The firm is also willing to repurchase precious metals from their clients, which they will do at current market value at the time of sale.
This company doesn’t provide its own storage or custodian solutions, but it does have a strong working relationship with a number of excellent firms that provide top-notch services in these areas.
However, they can help customers find the perfect custodian and storage facility to meet their needs even without offering them personally.
Over the past few years, Goldco is considered one of the fastest-growing precious metals IRA companies. They’ve achieved this level of success by offering great support, phenomenal precious metals to sell or purchase, and other fringe benefits.
Precious Metals IRA Investing Options from Goldco
Gold bars, gold coins, and gold bullion
Silver bars, silver coins, and silver bullion
A gold or silver IRA provides the opportunity to hold physical precious metals in a self-directed retirement account, offering advantages such as diversification and protection against inflation.
Please note: Goldco does not sell platinum or palladium products via their precious metals IRA service. You must purchase them from another broker if you desire to invest in these precious metals.
Gold and Silver Products
Goldco offers a wide selection of gold and silver coins and bars that are eligible for IRA investments. Their inventory includes:
Gold Coins: Goldco provides a variety of gold coins, including popular options like the American Eagle, Canadian Maple Leaf, and Australian Kangaroo. These coins are known for their purity and are highly sought after by investors.
Silver Coins: Investors can choose from a range of silver coins, such as the American Silver Eagle, Canadian Silver Maple Leaf, and Austrian Silver Philharmonic. These coins are prized for their high silver content and beautiful designs.
Gold Bars: Goldco offers gold bars in various weights and sizes, including 1 oz, 10 oz, and 100 oz bars. These bars are a great option for investors looking to purchase larger quantities of gold.
Silver Bars: Similar to gold bars, Goldco provides silver bars in different weights and sizes, including 1 oz, 10 oz, and 100 oz bars. These bars offer a cost-effective way to invest in silver.
Storage Options
Goldco offers secure storage options for precious metals, ensuring that your investments are protected. Their storage solutions include:
Segregated Storage: With segregated storage, your precious metals are stored separately from other customers’ metals. This option provides an added layer of security and ensures that your specific assets are easily identifiable.
Non-Segregated Storage: Goldco also offers non-segregated storage, where your metals are stored together with other customers’ metals. This option is typically more cost-effective while still providing a high level of security.
IRS-Approved Depositories: Goldco works with IRS-approved depositories to ensure the safekeeping of your precious metals. These depositories meet stringent security and compliance standards, giving you peace of mind that your investments are stored in a secure and regulated environment.
BuyBack Guarantee
Goldco offers a buyback guarantee for any gold or silver purchased from them. This guarantee provides customers with the option to sell their precious metals back to Goldco at competitive market rates. The buyback guarantee can be particularly appealing during times of liquidity need, when taking required minimum distributions from your IRA, or when adjusting investment strategies. This commitment to customer satisfaction ensures that you have flexibility and support throughout your investment journey.
By offering these comprehensive services and products, Goldco stands out as a leader in the precious metals industry, providing exceptional customer service and a wide range of investment options to meet the needs of retirement savers.
Reviews & Complaints about Goldco
After originally learning about this company, Goldco has garnered a number of positive reviews, which is what made me look into them in the first place.
The bulk of their reviews are focused on the wonderful services and high-quality people working on their staff. They also focus on the great products that the company sells.
Customers should realize that Goldco provides high-quality services and excellent interactions on a personal basis.
Nevertheless, Goldco has been reviewed negatively on a few disparate occasions. Nothing too negative was said, but it’s important to point out that things happen, clients make mistakes and misunderstandings, but Goldco is willing to work hard to satisfy each and every one of their customers.
So, if you come across a negative review along your Internet travels, please take it with a grain of salt.
Goldco Review 2024 in Summary
If you have any of the following needs, get in touch with a Goldco specialists to discuss how you can invest in precious metals.
- Simple IRA planning
- Planning for traditional and Roth IRA accounts
- Opening silver IRAs
- Opening gold IRAs
- 401(k) to gold IRA rollover
- Planning for SEP IRAs
The only areas where they lack is the fact that they don’t personally offer custodian and storage services. However, they work with many parties in both facets to help you complete your transaction. I chose to use Equity Trust as my custodian and opted for the Texas Depository for my storage. They walk you through choosing both options as you are legally obligated to have a custodian and you can’t store your metals at home per IRS rules.
Goldco IRA Costs
In the event that their prices change in the future, you can visit their website here to learn their exact rates at any given time.
With that said, I’d like to point out that their company representatives, when talking to them on the phone, were never pushy or overly salesy. This was refreshing to say the least, because many other companies have very pushy salespeople on their staff.
From what I can tell based on first-hand knowledge, their customers needed to make a minimum deposit of $25,000 to do business with them.
Their customers will also have to pay a yearly storage fee to an outside storage company that they’ll recommend. Traditionally, they charge $175 per year in annual fees – gold storage included – but these fees are typically waived during the first year.
For the most part, the gold storage fee will remain $175 per year until your account grows to an investment worth more than $100,000. Your yearly storage fee will rise to $225 annually once this happens. This is a fair and comparable price to other precious metals companies.
Goldco IRA Fees
Minimum purchase requirement is $25,000
Annual service fee is $80 per year
Non–segregated storage fee is $100 per year
Segregated storage fee is $150 per year
How to Begin Investing in a Precious Metals IRA with Goldco
Goldco makes it easier than ever to set up a precious metals IRA, yet it is a bit time-consuming so keep that in mind. You have the choice to do it on the phone or complete the paperwork online.
Initiating a retirement account through a precious metal IRA with Goldco’s guidance is straightforward and seamless.
Nevertheless, you must have information on hand to personally identify who you are during the sign-up process, so keep your Social Security number handy.
As you begin opening your account, Goldco will guide you every single step of the way to help you get started with a precious metals IRA. They will help you make the best decisions to complete this process as quickly and efficiently as possible.
Q&A for Goldco
Undoubtedly, you will have many questions to ask Goldco about gold IRA investing or investing in precious metals from a general standpoint.
Back in the day, when I first discovered this investment strategy, I felt like I had 1 million questions for my broker.
Nevertheless, after questioning the people at Goldco on numerous occasions, they patiently answered my questions and made me feel like I really mattered.
Routine Questions Asked of Goldco during 2024
typically, when interviewing a gold company like Goldco, I will ask the following questions:
How do I get started?
How much is my minimum investment?
Where will I store my precious metals?
What fees will I have to pay?
No matter what company you’re dealing with, they should answer these questions in great detail and have the information readily available. It shouldn’t be difficult to find this information out, because nothing should be kept a secret.
Finding out fees and prices amongst other things will make it easy to discover the top gold brokers in the industry.
Still, it’s important to note that you should consider each company before choosing your final gold broker to invest with.
Particularly, Goldco is a transparent company from top to bottom. I have a few regular questions that many people tend to ask before beginning their investing journey. It’s worth reading this information before you get started.
You’d be surprised how many people are looking to purchase precious metals bars and coins for their IRA accounts. There is definitely a wide range of options to choose from, but they must have IRS approval to qualify for an IRA. This limits the number of approved investment opportunities currently available.
Nevertheless, these restrictions on bullion and bars do exist because the IRS has put them there. Please pay close attention to the fineness requirements and other guidelines laid out by the IRS. Precious metals fineness requirements include:
Gold fineness is 99.5% pure
Silver fineness is 99.9% pure
Platinum fineness is 99.95% pure
Palladium fineness is 99.95% pure
Goldco has a number of custodians and storage companies that they choose to work with, but customers aren’t restricted to only doing business with the ones on their list. In fact, you can choose your own storage company if that’s what you prefer. Goldco will work with them even if they aren’t one of their personal recommendations. Their recommended custodians include Equity Institutional and Self-Directed IRA.
As far as storage companies are concerned, Goldco highly recommends choosing Sterling Trust to handle your gold storage needs. But the decision is ultimately yours.
While most people would prefer storing their precious metals at home, this goes against the rules. In fact, the IRS strictly forbids it.
The IRS forbids storage at home to make sure the owner always maintains possessions of their IRS approved precious metals. Unfortunately, there are many unscrupulous people in this world who would try to beat the system. To prevent this from happening, approved depositories are an absolute must according to the rules and laws set forth by the IRS.
As you can imagine, a company could never guarantee the value of precious metals because the prices are always fluctuating. Companies have no control over the spot price of silver or gold, which investors should know and understand before getting involved in this investment opportunity.
The good thing about precious metals is they tend to maintain their value over time and fluctuations are usually minor at best. That’s why investing in silver and gold is considered such a stable investment.
To start receiving distributions at the appropriate time, a gold IRA account holder must reach the age of 59.5 years old. According to the rules, this is when an account holder becomes eligible to take distributions without having to pay additional fees or penalties.
For the most part, a gold IRA rollover will likely go a lot faster than you think. In fact, most experts will tell you that the rollover process only takes around two weeks from start to finish, yet it does vary from time to time. On occasion, some circumstances will prolong the account creation process.
You’d be surprised how many people are looking to purchase precious metals bars and coins for their IRA accounts. There is definitely a wide range of options to choose from, but they must have IRS approval to qualify for an IRA. This limits the number of approved investment opportunities currently available.
Nevertheless, these restrictions on bullion and bars do exist because the IRS has put them there. Please pay close attention to the fineness requirements and other guidelines laid out by the IRS. Precious metals fineness requirements include:
- Gold fineness is 99.5% pure
- Silver fineness is 99.9% pure
- Platinum fineness is 99.95% pure
- Palladium fineness is 99.95% pure
Goldco has a number of custodians and storage companies that they choose to work with, but customers aren’t restricted to only doing business with the ones on their list. In fact, you can choose your own storage company if that’s what you prefer. Goldco will work with them even if they aren’t one of their personal recommendations. Their recommended custodians include Equity Institutional and Self-Directed IRA.
As far as storage companies are concerned, Goldco highly recommends choosing Sterling Trust to handle your gold storage needs. But the decision is ultimately yours.
While most people would prefer storing their precious metals at home, this goes against the rules. In fact, the IRS strictly forbids it.
The IRS forbids storage at home to make sure the owner always maintains possessions of their IRS approved precious metals. Unfortunately, there are many unscrupulous people in this world who would try to beat the system. To prevent this from happening, approved depositories are an absolute must according to the rules and laws set forth by the IRS.
As you can imagine, a company could never guarantee the value of precious metals because the prices are always fluctuating. Companies have no control over the spot price of silver or gold, which investors should know and understand before getting involved in this investment opportunity.
The good thing about precious metals is they tend to maintain their value over time and fluctuations are usually minor at best. That’s why investing in silver and gold is considered such a stable investment.
To start receiving distributions at the appropriate time, a gold IRA account holder must reach the age of 59.5 years old. According to the rules, this is when an account holder becomes eligible to take distributions without having to pay additional fees or penalties.
For the most part, a gold IRA rollover will likely go a lot faster than you think. In fact, most experts will tell you that the rollover process only takes around two weeks from start to finish, yet it does vary from time to time. On occasion, some circumstances will prolong the account creation process.
Goldco Final Thoughts
Setting up a proper retirement portfolio is something that you have to think about now, much earlier than when you’re finally ready to retire. I began the retirement account creation journey in my mid-30s, but I honestly would’ve preferred starting even earlier.
Goldco is one of the most trusted and noteworthy brands in the precious metals IRA space. They have more than a decade of experience, and their staff is second to none. They spend a great deal of time cultivating their excellent reputation, which is why it’s hard to believe that anyone can have anything negative to say about this fantastic business.
During the account creation process, Goldco will logistically take over all of the paperwork and handle 95% of it on your behalf, which is very fortunate for brand-new account holders. When I dealt with other companies before I connected with Goldco, I was confused and I didn’t trust them a great deal because they didn’t take the reins or clarify the process the way Goldco did.
I do not know when the special is going to end, but right now if you open an account with Goldco, they will give you back 10% of your deposit in silver. This means you will generously receive an additional 10% in your precious metals IRA account, which is a huge boost to say the least.
Goldco FAQ Section
I can tell you with complete certainty and emphatically that Goldco is a company that has one of the best reputations in the industry. According to the Better Business Bureau, this company has received a capital A+ rating, which is their highest rating. And the Business Consumer Alliance has given Goldco their best AAA rating.
If you intend to invest in a precious metals IRA in the near future, doing business with Goldco is a great idea. You can convert your 401(k), SEP IRA, traditional IRA, or Roth IRA into a gold IRA account at your earliest convenience. This is known as the IRA rollover process.
Did you know that you cannot purchase precious metals in a traditional or Roth IRA? You’ll have to convert these accounts into a self-directed gold IRA account before you can begin buying physical precious metals.
Goldco makes money by selling physical precious metals including silver and gold and adding them to their customers’ precious metals IRA accounts. They also repurchase silver and gold and resell it to other customers. They always follow every one of the rules and regulations strictly, so they remain in compliance with the IRS at all times.
A gold IRA account is considered a non-traditional investment account that allows you to purchase alternative investments including silver and gold. Traditional and Roth IRA accounts allow customers to purchase stocks and bonds and other investments, but gold isn’t allowed.
When you open a silver or gold IRA, you must purchase IRS-approved investments that must be stored in a secure vault in a dedicated storage facility that also has IRS approval.
This man truly needs no introduction, but if you aren’t certain about who were talking about, he is the CEO and founder of Goldco. He created this company so Americans can have an alternative investment strategy for their retirement plan. It gives them the ability to offset stock market crashes, economic downturns, and other market volatility.
The IRA specialists at Goldco are the best in the business and they follow the rules and regulations to the letter at all times. The Goldco company really works hard to educate investors, because they have an extensive library of educational resources on top of phenomenal customer service.
When compared to other companies, Goldco’s fees are average and pretty much in line with the fees that everybody else charges. If you read reviews about Goldco online, you’ll see that they’ve had numerous positive customer interactions, which means the company has a fantastic reputation.
Getting into contact with Goldco is easier than ever. You can visit their website, find their phone number, and call them to talk with a customer representative. Or if you prefer, you can go directly to their main office at 21215 Burbank Blvd. in Woodland Hills, CA.
In the past, this company had a few different names, believe it or not, before they finally settled on Goldco. One of their previous names was Goldco direct. They changed their name officially to Goldco Precious Metals at this time. If you’ve come across any information about Goldco Direct, you’re likely reading old and outdated info.
Unfortunately, at the time of this writing Goldco doesn’t provide customers with personal IRA custodian services. Nevertheless, the company has phenomenal relationships with third-party custodians all across the US. And if you would choose to work with any of their recommended custodians, Goldco typically waives the first-year fees. This makes it quick and easy to initiate a gold IRA rollover from your 401(k).
According to the rules and regulations from the IRS, Goldco investors and anyone who has a precious metals IRA can purchase IRS approved gold, silver, platinum, and palladium.
But remember, you must have an IRS approved precious metals IRA account in order to buy these investments for retirement.
As far as a precious metals IRA is concerned, the most popular investments are typically silver and gold. Why? These seem to be the most stable investments out of the four options, and it’s very easy to sell gold and silver if you need to liquidate because there is a large market for these precious metals.
Typically, Goldco only sells silver and gold on their website. They focus on these investments specifically because they can be easily liquidated if the need ever arises.
The Goldco account executives are there to help you every step of the way. They are the people that help you set up your account from beginning to and. They are the people that will help you choose the gold and silver investments for your account. And they will help you create the best strategy to meet your personal investing needs.
On average, Goldco typically maintains 4.5 stars out of 5 stars rating. Even better, on the Better Business Bureau website, they have an A + rating. And the business consumer alliance has given them a AAA rating, which is also their best.
Honestly, the customer service experience at Goldco is so good that I can say with absolute certainty that it’s the best in the industry. Take a close look at some of the reviews left about them online and you’ll see that I’m telling you the truth.
No matter what review you read, you’re likely to come across a glowing review about their customer service staff. And more often than not, many of their customers leave 5-star reviews because they are so thrilled with the customer service experience that they had when doing business with this company.
They also have a buyback program in place for all of their customers. This is a generous offer to say the least. Customers can sell their gold and silver products back to Goldco at fair market value based on the current spot price.
Even though people typically call it a gold IRA or silver IRA, basically it’s all the same thing. If you open a self-directed precious metals IRA, you have the opportunity to purchase gold, silver, platinum, or palladium in this account.
Guess what? The rules have been expanded even further with this type of account. Believe it or not, investors are allowed to finally purchase cryptocurrencies in their self-directed IRA accounts as well right now. This is an added benefit that many investors are successfully making the most of right now.
When you invest in alternative assets like precious metals, you obviously want to know every type of investment available to you. Investors have an opportunity to purchase stocks, bonds, cryptocurrencies, precious metals, and real estate in a diverse IRA portfolio.
Only you can truly answer this question for yourself, so I’m not going to give very specific instructions in this regard. It’s often said that you should invest 5-20% of your portfolio in precious metals.
