Goldco Review: Is It the Best Precious Metals IRA Custodian?

April 10, 2023

For more than a decade, Goldco has been the go-to source for investors seeking to protect their retirement savings with gold-backed investments. Their precious metal IRAs and direct purchase options simplify adding precious metals to your retirement portfolio. Therefore, we recommend Goldco to anyone seeking to invest in their retirement.

Goldco’s team of experienced advisors provides detailed advice on precious metal investments and IRA rollovers and is prepared to create a unique plan tailored to your needs. With Goldco, you have access to the tools and resources necessary for making informed decisions when planning for retirement.

Although Goldco offers competitive rates in terms of gold IRAs, it's not the cheapest option, nor does it offer the best customer service. If you're planning to diversify a large chunk of your retirement savings, I recommend our best-rated precious metal IRA provider, Augusta Precious Metals, instead. It charges a low fixed annual fee for custodian and storage services that's lower than Godlco's, it doesn't charge account management fees, and it's one of the best-rated companies we've ever covered, with near-perfect average user ratings on all major customer review sites like TrustPilot, Google Reviews, and Better Business Bureau. If you have more than the minimum $50,000 required to get started, I can't recommend Augusta Precious Metals enough.

Looking for a reliable and reputable precious metals IRA custodian? In this Goldco review, we'll take an in-depth look at one of the leading names in the industry. With a focus on gold and other precious metals, Goldco offers a range of investment options for those looking to diversify their retirement portfolio. Read on to find out more about the services, fees, and reputation of Goldco and whether it could be the right choice for your investment needs.

What Is Goldco?

Goldco is a precious metals investment firm based in Woodland Hills, California. It specializes in wealth and asset protection, primarily through Precious Metal IRAs and direct purchases of precious metal coins and bars. The company was founded in 2006 by Trevor Gerszt. Goldco is considered a leader in the precious metals industry, with over a decade of experience helping customers protect their retirement savings. It's a fast-growing company with many positive customer reviews. Goldco's most valuable feature is its expertise in rolling over existing retirement accounts to Precious Metal IRAs, making your gold and silver investment easy, seamless, and secure. Other services include setting up new Precious Metals IRAs and purchasing Goldco physical precious metals.

Features Of Goldco

Let’s look at some of the features that make Goldco stand out.

#1 Industry Leader In Gold-Backed Investments

With over a decade of experience, Goldco has established itself as a trusted leader in the field of gold-backed investments, providing customers with security for their retirement savings. This is a major draw to potential customers, especially those preparing for retirement.

Goldco review

Gold-backed investments are becoming increasingly popular for those who want to hedge against market volatility and safeguard their finances.

Why Invest In Gold-Backed Investments With Goldco?

For those unfamiliar with gold-based investing, Goldco provides experience and reliability. This gives customers access to expertise and resources to help them understand how these strategies work and to make informed decisions.

Investing in precious metals protects your finances from challenging economic times because those assets are more stable than stocks during economic downturns. That means you're likely to earn more than on traditional stocks and bonds when prices are low or volatile. In addition, many people are drawn to investing in precious metals because it offers more liquidity than other types of assets, such as real estate or art. This allows you, as an investor, to access your funds quickly if you need them.

#2 It Offers Precious Metal IRAs To Protect Its Customers

Goldco offers Precious Metal IRAs to protect its customers' tax-advantaged retirement accounts, such as their IRA, 401(k), 403(b), and TSP. This service allows customers to invest in securely-stored and insurance-backed physical gold, silver, platinum, or palladium. By converting their existing retirement accounts into a self-directed IRA with Goldco’s services, customers can diversify their portfolios and potentially protect themselves against market downturns.

You enjoy the security and peace of mind of knowing that a professional firm safely monitors your investments. In addition to protecting its customers' assets from potential market downturns, they also benefit from accessing various precious metals at competitive prices without long-term commitments.

Furthermore, Goldco offers assistance throughout the entire investment process. They guide you through converting your current accounts into precious metal IRAs and advice on which precious metals may be best for each particular circumstance.

Moreover, since these investments are held in an IRA account, customers will not have to pay taxes until they take possession of the asset. This increases the potential for capital gains on investments because of the tax advantages of an IRA account.

#3 Goldco Offers Direct Sales Of Precious Metals

Goldco offers customers direct sales of gold, silver, and other precious metals. This allows you to purchase various metal types from the same company rather than search for different suppliers. It makes it easier to find the exact type of metal you are looking for, eliminating the hassle and risks of dealing with multiple vendors you don't know.

In short, this feature provides you convenience and access. Quick access to multiple precious metals and the convenience of not having to research or shop around for the right vendor or risk getting stuck dealing with a poor supplier.

Additionally, some people may feel more comfortable purchasing precious metals directly from a single reputable company rather than through an individual seller on a website like eBay or Amazon.

Finally, by buying from Goldco directly, you may take advantage of special offers or discounts not available elsewhere, helping you get a better price. In fact, Goldco can reduce overhead through direct sales, and it passes these savings to its customers by, so they sometimes have better prices on precious metals than other vendors, even without special offers.

#4 Has A Professional, Helpful And Knowledgeable Team

Goldco's team can help make your gold and silver investment easy, seamless, and secure. This feature is important because it ensures your assets are appropriately managed, giving you a sense of security.

The team at Goldco has extensive experience in helping clients choose the right type of precious metal for their portfolio. When making recommendations, they consider the customer’s individual goals, budget, and risk tolerance. In addition to offering personalized advice, they also provide helpful tools such as cost estimators, retirement calculators, and market analysis reports to assist decision-making. The goal is to ensure customers have all the information necessary to invest in gold or silver successfully.

This feature also ensures that you have access to knowledgeable support staff who can help you navigate the process should any problems arise during your investment journey. For instance, if you need assistance understanding how taxation affects your investments or want advice on when to liquidate the assets in your portfolio, you can reach out for qualified guidance from Goldco’s team members.

#5 Has Low Annual Fees For Gold Ira Accounts

Goldco offers low annual fees for Gold IRA accounts, ranging from $180-$230, depending on your chosen option for storing your gold or silver investments. This includes both account maintenance fees and storage fees, and it's lower than most competitors.

By charging relatively low annual fees, Goldco makes investing in gold more accessible and affordable for individuals who may not have been able to invest otherwise. Do consider, though, that these are flat fees, so they become proportionally lower the more you invest in your IRA account.

Goldco also lets you choose between segregated and non-segregated storage, giving you access to lower fees. You also get various payment options to make paying those fees quick and easy. All these factors make opening an IRA account with Goldco very attractive because you can now invest in gold without worrying about large hidden expenses.

#6 Goldco Has A Minimum Purchase Requirement

Goldco requires a minimum purchase of $25,000 and an annual fee of $225 if you invest $100,000 or more. This is a high amount for an initial investment compared to other providers, which require as low as $5,000. However, investing in larger amounts of gold can potentially lead to higher returns due to economies of scale. When you invest in larger amounts of gold, you may be eligible for discounts on premiums, which can increase your potential returns over time.

This minimum purchase requirement ensures that only serious investors invest in gold through Goldco. This can create a more stable and long-term investor base for the company, which can help reduce volatility in the gold market.

On the other hand, the high minimum purchase requirement of $25,000 may exclude smaller investors who don't have that amount of money to invest in gold. This can limit the accessibility of Goldco's services to a certain group of investors. So, it's good if you're looking to make larger investments or if you already have a large sum saved for your retirement, but not so if you're only starting your retirement saving journey.

This minimum purchase requirement also comes with more concentrated risk. This is because investing a large amount of money in a single asset class like gold can lead to heavy losses if the price of gold declines. It's like putting all your eggs in one basket.

#7 Has Near-Perfect Five-Star Reviews

Goldco has one of the best track records of any Gold IRA provider, with near-perfect five-star reviews from the Better Business Bureau, Consumer Affairs, and Trustpilot. This is an important indicator of the quality of service that customers can expect to receive, i.e., it shows that users are generally satisfied with their experience at Goldco.

With such a high rating, it’s likely that all aspects of the customer experience – from setting up accounts to making investments – will be handled in a friendly and professional manner.

#8 Gold IRA Rollover

Goldco is a precious metals IRA custodian that offers an IRA rollover feature. This allows you to roll over an existing IRA or 401(k) into a Goldco precious metals IRA, therefore transferring the funds from your existing retirement account to your new Goldco account. This transfer is usually done tax-free and without penalty as long as you follow IRS rollover rules.

Once the funds are in your Goldco account, you can use them to purchase physical precious metals such as gold, silver, platinum, and palladium. These metals are stored in a secure depository on your behalf, and you can sell them or take physical possession of them later on.

#9 Goldco Referral Program

Goldco offers a referral program that allows individuals to earn commissions by referring new customers to Goldco. As a Goldco affiliate, you can earn up to $165 for each new qualified lead and one of the best affiliate commissions in the market, ranging from 8% to 10% of sales, depending on volume, which is 2X to 5X more than what some competitors like Birch Gold Group offer.

The Goldco referral program is a great way for individuals to earn extra income by promoting a valuable investment opportunity. Whether you're a financial blogger or simply someone looking to make some extra money, the referral program is an easy and effective way to earn commissions. With its generous commission rates and comprehensive marketing resources, the Goldco referral program is a valuable opportunity for anyone interested in the growing demand for precious metals investments.

Pros Of Goldco

  • Goldco is an industry leader in gold-backed investments and retirement strategies.
  • The company focuses on simplicity, accessibility, and efficiency for its customers.
  • It can assist customers in portfolio diversification through its gold-backed investment options.
  • Goldco is an A+-rated member of the Better Business Bureau.
  • It is a fast-growing company in the industry.
  • Goldco offers promotions and other customer bonuses or incentives.
  • The company provides a gold IRA option as part of its retirement portfolio diversification options.

Cons Of Goldco

  • The minimum investment required is currently $25,000, which may be significant for some investors. It's worth considering whether you have the financial resources to meet this.
  • The annual maintenance fee of $175 for investments below $100,000 may be too high. It increases to $225 for assets above $100,000.

Goldco Pricing

  • Goldco’s most popular plan is the Gold IRA account, which comes with a $180-$230 annual fee. Also, it has a requirement of $25,000 as the starting balance and $3,500 for regular precious metals purchases or cash sales. The annual fee is made up of an $80 account maintenance fee and a storage and insurance fee that goes from $100 for non-segregated storage (your coins and gold bars are stored along with others like them) to $150 for segregated storage (your coins and bars are stored separately from everyone else's). The Gold IRA also has a $50 account setup fee and charges $30 for money wiring.
  • Annual fees increase to $225 when the investment exceeds $100,000.
  • Goldco charges a fee for setting up a new account, helping with the 401 (k) rollover process (if necessary), and an annual charge for storage and insurance at the depository, with $260 as the first-year cost and $180 annually.
  • Additionally, regular taxable accounts at Goldco (cash sales) have no annual fees, start-up costs, or storage expenses.
  • Goldco does offer a refund policy or guarantee for lost or stolen items in transit to the customer by common carrier, with the company having the discretion to either refund the customer or replace such items.

In Summary

If you’re looking for a company with extensive experience in gold-backed investments and retirement strategies, Goldco is an ideal choice. This company is best for long-term investors thinking about their retirement. They specialize in Precious Metal IRAs and provide customers with the insight they need to make sound financial decisions. With over 10 years of expertise, they provide assistance with rolling over existing retirement accounts, setting up new Precious Metals IRAs, and buying physical precious metals.

However, if you have more than $50,000 to invest in precious metals, Augusta Precious Metals is a better choice than Goldco. It offers more competitive rates upfront for large investments, and those rates don't increase as a function of the total invested amount.

Goldco FAQs

Is Goldco worth it?

Yes, investing in gold through Goldco is worth it. Goldco offers customers the opportunity to diversify their retirement savings portfolio with a physical gold IRA. Goldco provides customers with a secure, insured storage option and the convenience of purchasing and selling gold online. Customers can also use Goldco’s tax-advantaged investing options and receive personalized customer service.

Is Goldco safe?

Yes, Goldco is safe. They are a reputable company that has been in business since 2006. They have earned an A+ rating from the Better Business Bureau with zero complaints. They use industry-leading security measures to keep their client’s information safe, secure, and insured through COMEX Vaults to protect your physical metals purchases.

Is Goldco legit?

Yes, Goldco is a legitimate investment company and has been in business since 2006. They are registered with the U.S. Securities and Exchange Commission (SEC) as an independent financial advisory firm, making them a safe, secure choice for gold investors of all sizes.

What kind of company is Goldco?

Goldco is a financial services firm specializing in retirement planning and wealth management. The company provides services such as IRA rollovers, gold and silver investments, tax-advantaged investments, and long-term care planning.

How does Goldco make money?

Goldco makes money by charging clients a fee to purchase and manage their investments in gold, silver, and other precious metals. They also earn profits by buying and selling precious metals on behalf of clients. Goldco charges a commission when clients use its services to purchase or sell physical gold or silver coins.

Does it matter what brand of gold I buy?

Yes, it does matter what brand of gold you buy. Different brands may have different levels of purity and quality, so it's important to research before purchasing. Additionally, some companies may offer better customer service or other benefits than others, so it is worth comparing these options.

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