Retirement is supposed to be the time when you will be enjoying the rest of your life in comfort. To make it happen, diversifying your traditional IRA into a Gold IRA and investing in precious metals that maintaining their value are the keys. However, not all gold IRA firms are the same, so we did our research and saw very positive Goldco Reviews. Let’s find out more about this company.
Overview of Goldco
Goldco or Goldco Precious Metals specializes in gold and silver Individual Retirement Accounts (IRAs). This privately-owned firm is one of the top-ranking companies that handle asset and wealth protection in the United States.
It was founded in 2006 as Gerson Financial Group LLC. The company initially focused on B2B selling of precious metals. In 2011, it was bought by Trevor Gerszt and changed its name to Goldco Direct. Eventually, the name evolved to Goldco Precious Metals.
This California-based company helps people protect their retirement savings by rolling over an IRA, 401 (k), or 403 (b) to a precious metals-backed IRA. By introducing precious metals IRA, it has expanded its main service which is selling gold and silver to people looking for a solid investment.
It has 16 years of expertise in the financial investing world, never failing to continue its commitment to protect Americans’ retirement funds through the backup of precious metals. With a Triple-A rating from BCA (Business Consumer Alliance) and an A+ rating by the BBB (Better Business Bureau), Goldco guarantees security and growth of your retirement money.
Goldco’s exceptional performance and high trust ratings were recognized by various organizations and business publications. It was named by the Los Angeles Business Journal as the 17th fastest-growing company in the LA area. Way back in 2015, Goldco was named by the Inc. Magazine as the 3rd fastest-growing financial services firm in the United States.
In the 2021 American Business Awards, it garnered the Company of the Year award. Celebrities including American talk show host Sean Hannity publicly endorsed and supported the company’s initiatives to educate people about the benefits of gold and silver investment.
Goldco Gold IRAs: How They Work
With over a decade of expertise in the gold IRA industry, Goldco is doing a great job of protecting their clients’ retirement accounts against inflation and stock market volatility by offering precious metals to back them up. It is keeping up to the company’s vision and mission to provide products offering more stability than the U.S Dollar.
Gold’s purchasing power remains stable despite the economic recessions and decrease in the value of the US Dollar and other fiat currencies. Having gold or other precious metals in your retirement account secures your egg nest.
It has thousands of satisfied clients who can attest to the services of the company. They all agree about one thing - a Goldco Precious Metals IRA is a wise and safe investment. Your gold or silver is stored in a custodian company and secured like other IRA assets in state-of-the-art vaults. All precious metals are covered by insurance to guarantee that in case of a natural event or theft, you will be compensated for your loss.
Goldco offers Gold IRA to eligible people like employees and those under 70 ½ years old. Clients can choose to get a gold IRA, silver IRA, or a combination of both. To start an account, you just need to follow these 4 steps:
Step 1: Call 877-360-0011 to connect with Goldco’s customer support representative and find out how to set up a Gold IRA.
Step 2: If you choose to continue your registration, the customer service rep will transfer your call to a Goldco specialist. You can also set an appointment at a later date or time if you want to have more time before making a major decision.
Step 3: If you decide to talk with an account specialist and move forward with the registration, he will ask for your personal information to set up the account. He will also help you transfer funds from your bank account or roll over the funds from your existing IRA.
Step 4: When your Gold IRA is funded, the next step is to select the precious metals you want for your IRA. Your account executive will assist you regarding the different coin options. You can buy coins or bullions as your IRA assets.
Once you have made a choice, the precious metal will be transported to a safe depository in the next few business days.
What Are They Selling?
As a full-service precious metals company, Goldco sells both precious metals-backed Individual Retirement Accounts (IRAs) and tangible forms of gold and silver. If you are contemplating which is the better option for your precious metals IRA, seek guidance from the Goldco experts.
Generally speaking, the safest investment is gold. Its value is rarely affected by economic, political, or social issues. It does not experience the volatility that other precious metal retirement plans face. However, in the context of preserving wealth, silver is a better option than gold. Silver has a finite nature that appeals to most investors when weighing its value over time.
Services that Goldco Offers
Goldco leverages its expertise in precious metals by offering gold or silver-backed retirement savings IRA. In addition, it provides brokerage services to people who are into buying or selling gold and silver.
Precious Metal IRAs
This investing company makes opening a new account or rolling over an existing retirement account stress-free. In addition, you will be assisted by experts to find the best-fitting precious metal investment and trusted depository. Goldco partners with third-party storage companies that offer state-of-the-art vaults. However, it recommends Equity Trust Company as a prime IRA custodian.
IRS requires Gold IRA providers to comply with the quality and fineness standards of the coins, bars, and bullions of precious metals. Gold coins should meet the minimum fineness of .995 to become eligible for Gold IRA investment. Silver coins must meet the minimum .999 fineness requirement.
Gold-IRA approved coins include:
Gold American Eagle Type 1 – It is the official bullion coin of the United States with a face value of $50. This 22-karat coin was first struck by the US Mint and released in 1986. The coin’s reverse shows an eagle carrying an olive branch above a second eagle on a nest.
Gold American Eagle Type 2- This 22-karat gold coin is similar to Type 1 except the image on the reverse shows only a single eagle portrait.
Gold Australian Striped Marlin – This 2020 gold coin is issued as legal tender with a $25 AUD face value. It is produced by the Perth Mint. The Marlin in its face is a symbol of tenacity, commitment, and perseverance. It comes in ¼ ounce 99.9 pure gold.
Gold Liberty Coin – This popular New Zealand-produced coin comes with a $25 Niue face value. It is available in ¼ ounce of .9999 pure gold. It has the face of Queen Elizabeth II on the obverse and the Liberty Bell commemorative celebration in 1752 on the other side.
Gold American Eagle Proof – This 22-Karat gold coin has a face value of $50. It is the official US Mint bullion coin enhanced version with 0.0167 fineness.
Gold British Lunar Series – It is a stunning coin that features Chinese zodiac signs. This .9999 pure gold coin is part of the Lunar Series or Shengxiao Collection. It has a £25 face value.
American Gold Buffalo – This 2021 coin is the first 24-karat gold bullion produced by the US Mint. With a $50 face value, this 1-ounce coin is very popular among collectors and investors.
Gold Maple Leaf – Produced by the Royal Canadian Mint, this 1-ounce 2021 bullion coin is .9999 pure gold and comes with a face value of $50 CAD. The first coins were minted in 1979 to address the growing demand of investors who wanted to own premium-quality gold bullion.
Gold Freedom and Hope – This 2021 ¼ ounce of .9999 pure gold was minted 245 years later since the Declaration of Independence. With a face value of $25 XCD, it represents the U.S growth and development. The coin is also a symbol of the country’s dedication to defending its freedom.
Gold Freedom Coin – To commemorate the 135th anniversary of the Statue of Liberty dedication, this 2021 1/4 ounce of .9999 pure gold was issued by the New Zealand Mint. The Statue of Liberty that stands for the American Dream (life, liberty, happiness) was a gift to the United States from the people of France. It has a face value of $25 NZD.
Gold Valor – This .9999 pure gold coin with a $25 face value was produced by the Royal Dutch Mint. Its reverse side has the iconic World War II image of Raising the Flag on Iwo Jima. Around the flag is the phrase “Uncommon Valor Was a Common Virtue.”
Gold Lucky Dragon – This 2021 coin is produced by the Royal Canadian Mint and comes with a $10 CAD face value. It is made of .9999 pure gold and features the image of a dragon as a symbol of strength, power, and good fortune.
Gold American Bald Eagle – Perth Mint struck this beautiful 2021 coin that displays the majestic bald eagle. This bird symbolizes the strength and determination of Americans. It comes with a $25 TVD face value and is made of .9999 pure gold.
Gold Australian Saltwater Crocodile – This .9999 pure gold coin with a $25 AUD face value is produced by the Perth Mint. Under the 1965 Australian Currency Act, it is used as the country’s legal tender. In the animal kingdom, the Saltwater Crocodile of Australia is noted for its powerful bite.
Gold Military Guinea – This ¼ ounce coin is struck by the East India Company of London and made of .9999 pure gold. It pays homage to the UK’s power in the colonial world and is recognized as one of the trusted coins accepted anywhere in the world.
Silver-IRA approved coins are:
Silver American Eagle (Type 1 and 2)
Silver American Eagle Proof
Silver American Bald Eagle
Silver Australian Spotted Eagle Ray
Silver Australian Striped Marlin
Silver Great Barrier Reef
Silver Liberty Coin
Silver Military Guinea
Silver Maple Leaf
Silver Lucky Dragon
Silver 20th Anniversary Britannia
Silver Freedom & Hope
Silver Australian Saltwater Crocodile
Silver World War I
Silver World War II Victory
Silver Britannia Lunar Series
Non-IRA Precious Metals
Gold and silver are the only precious metals you can buy from Goldco. It comes in coins or bars. They are minted in Australia, Canada, New Zealand, and the United Kingdom.
It also sells the Chuck Norris “Five Principles” coin. It features engraved life principles of the actor such as Faith, Family, Fitness, Freedom, and Fight. The coin comes with a Certificate of Authenticity in a lovely wooden box.
Anyone can purchase these valuables from Goldco without the need to provide proof of earned income or be at a certain age. You can have your precious metals delivered to your home address or keep them in the depository vaults of Goldco partners.
What Makes Goldco Unique
Goldco is a great company for different kinds of investors who want to own tangible assets like precious metals, and protect their retirement money against potential financial crises. It is known for giving investors a myriad of attractive and unique perks that they will enjoy up to the end of their contract.
Special Offers for New Customers
Opening a $50k account waives account fees during the first year, helping you save up to $320 upfront
Placing more than $50k worth of qualified precious metals entitles you to free metals worth $2,500 (5%) of your total purchase
White-Glove Customer Service
Goldco takes pride in providing stellar service to their clients - from start to finish. Even if you are only making an inquiry about their investment products, the customer service agent will treat you with utmost respect.
Whether you are interested in buying actual gold or silver products, or opening a gold IRA investment, their investment specialists go over and beyond to ensure that you are satisfied. They will not push you to decide or set up an account right away, will instead advise you to think it over and come back when you are ready.
Goldco has a low fee scheme for gold IRAs. During the first year, you need to pay $260, and then $180 per year during the succeeding years.
For direct purchase of precious metals or non-IRA transactions, there is no fee. You will only pay the amount of your gold or silver purchase. And there’s more - Goldco will store them at no cost at all. Other providers do not offer this amazing opportunity.
IRA & 401(k) Rollovers
Goldco gladly accepts clients with existing retirement plans. It has professional staff who will assist you during the rollover process, making it quick and effortless.
Here are the three simple steps that you need to do:
Set up a new Goldco Precious Metals IRA.
Move the fund from the old IRA or 401 (k) to your newly-opened Goldco IRA. Your investment specialist will help you with this. There is no need to invest more money or pay penalties.
Once the fund is on your Goldco IRA, you will be given resources that can help you select the right precious metals and achieve your retirement goals. You also decide where to store your gold or silver coins/bars. Goldco does not hold your metals directly. Your specialist will help you find the ideal storage company for your gold or silver metals.
From there, the IRA specialist will continue the rollover process which can take around 10 business days. Once completed, you will be notified of the development including the time when the depository received your precious metals.
While Goldco imposes a minimum investment that is higher compared to other precious metal IRA providers, it is straightforward when it comes to fees. There are no hidden fees or charges.
You can’t view their pricing on its business website, but calling the customer service department will confirm the fees below:
$50 Initial Setup Fee
$80 Annual Administration Fee
$100 Annual Storage Fee (non-segregated) or $150 (segregated)
The minimum investment is $50,000 for precious metals IRA. For non-IRA transactions, the minimum purchase is $3,500.
New account holder clients also get to enjoy a waiver of the fees during the first year of the contract which is a total of $260. However, you need to pay for the storage fees of your IRA assets. During the succeeding years, you will pay a $180 annual fee plus a storage fee.
Goldco has the highest buy-back guarantee for its customers. This eliminates the need to look for random coin dealers who will try to offer low-ball prices for your gold or silver coins.
When it is time to liquidate your gold IRA or you want to dispose of the physical coins or bars you bought from Goldco, you can sell them back to the company. You can ask your specialist to help you with the transaction. Once done, all you need to do is wait for the payment. However, you can always decline the offer if you don’t want to sell them to the company.
Pros and Cons
To know if Goldco is the right gold IRA company for you, check out the following pros and cons to help you decide.
Wide variety of IRA-approved gold and silver coins
Beginner-friendly gold-IRA firm
Transparency of the organization’s history
Stellar customer service
Allows you to open a gold IRA and purchase physical gold or silver
Offers bonuses to new clients (first-year fees waiver and 10% back on silver coins)
Free storage for non-IRA precious metals
Easy and free IRA and 401 (k) rollovers
Straightforward and simple account setup or purchase of non-IRA precious metals
Positive reviews from customers and industry experts
Non-pushy investment advisors
Highest price buyback offer
Free retirement resources
Easy access to information over the phone or website
Recipient of 2021 Company of the Year Award
High minimum investment of $50,000
Non-availability of other precious metals like platinum and palladium coins
No publicly available prices of precious metals and fees
How to Get Started with Goldco?
If you are interested to know more about precious metals investing, the easiest way to do this is to fill out the Goldco online application on its website. A Gold IRA expert will contact you and take you to the next step.
If opening a new self-directed account, you will be asked to give personal information like your social security number to prove your identity. Goldco will send an email with resource material about precious metal options to guide you in your investing plan. This will give you an idea of which gold or silver option suits your IRA.
If you have an existing IRA and wish to convert it into a Goldco precious metals retirement plan, you will be assisted by an account specialist through the rollover process. It has a team of well-trained and licensed agents who will guide you to avoid possible loopholes that may result in paying taxes and penalties when converting a conventional IRA into a Gold IRA.
Goldco’s business hours are 8:00 am- 5:00 pm Mondays to Thursdays and 7:00 am-4:00 pm on Fridays. It has customer service associates who are ready to help with your account-related questions. You can also fill out an online contact form and submit it. Expect one of the company’s experts to contact you via chat or phone call within 24 hours.
Final Thought - Goldco Review
Is Goldco the right company to entrust your retirement money to? Thousands of customers are attesting to the outstanding aspects of working with them. Goldco makes precious metals investing more accessible to ordinary employees by offering gold or silver IRAs or physical coins. You don’t have to worry about your investments because they are kept in a secure custodian that you choose.
We are confident in saying that based on the benefits that it brings - verified customer reviews, buy-back program, and low-fee model - choosing Goldco is the smart decision to grow your retirement portfolio.