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To Put it Simply: Goldco is a gold and silver broker that offers both self-driven IRA and non-IRA transactions. Goldco helps customers to set up or rollover their IRA accounts in accordance with IRS guidelines.
We give them 4.8 out of 5 stars, and customers agree.
Goldco Pros & Cons
Goldco stands out in the industry because they put the customer above everything else. Goldco’s exceptional customer service and dedication to education make them stand out above the competition. This is reflected in their perfect marks with the BBB and BCA and highly rated reviews across many business review websites such as Trust Link, TrustPilot, and Consumer Affairs.
About Goldco Precious Metals
Goldco Precious Metals is a precious metals investment company that was founded in 2006 by Trevor Gerszt. They facilitate the creation of self-driven IRAs by brokering the purchase of precious metals. Since its founding, Goldco has worked with thousands of customers to facilitate the sale of precious metals for IRAs.
Gerszt has said that his motivation in founding Goldco was to create a company that provided a straightforward way for people to transfer IRAs into self-directed precious metal IRAs. He believes in the stability provided by a diverse portfolio including physical assets in the form of gold and silver.
Unlike many other investment companies, Goldco makes the process simple by specializing in gold and silver brokerage. Goldco does one thing and they do it very well.
The company is committed to making the process of buying precious metals simple and understandable for its customers. They provide extensive educational resources as well as providing a personal expert available to the customer during every step of the process.
Goldco, like Augusta Precious Metals, offers both gold and silver in the form of coins, bars, and bouillon. They offer sales in the form of self-driven IRA as well as non-IRA transactions. The gold and silver are under direct ownership of the investor which makes for a risk-averse investment.
Under IRS requirements of third-party asset storage, Goldco has partnerships with two companies that act as custodians of their precious metal IRAs. Self Directed IRA Services Inc. is a subsidiary of Horizon Bank in Texas which is a trusted bank with over a century of experience. Equity Institutional has $12 billion in custodial services and is the industry leader in providing investment custodial services.
Goldco's Fee Structure
IRA set-up fee
Wire transfer fee
Goldco’s fee structure varies on a case-to-case basis. Goldco states that they structure their fees in such a way as to provide customers with the lowest possible fees. These fees, Birch Gold's, are described as “as low as” and may be higher depending on circumstances.
IRA transaction fees:
One time setup fee: $50
Wire fee: $30
Annual maintenance fee: $80
Annual fee for non-segregated storage: $100
Annual fee for segregated storage: $150
Based on this fee structure, IRA customers with non-segregated storage will pay as low as $260 in their first year and $180 each year thereafter. IRA customers with segregated storage will pay as low as $310 in their first year and $230 each year thereafter.
Goldco waives fees for the first year when an account of $50,000 or more is opened.
Fees are increased for accounts of $100,000 or more. Fees increase on average $50 annually for accounts over this amount.
First-time buyers can also earn up to 5% in free metals on qualified purchases of $50,000 or more.
There are no fees for non-IRA transactions.
They will also store the precious metals for free! This is a huge perk for non-IRA customers.
Goldco requires a minimum investment of $20,000 to $25,000 for IRA transactions and $3,500 for non-IRA.
There are no maximum investments for IRA transactions.
Who would be the best match for Goldco Precious Metals?
Those Looking to Diversify
Goldco is a good fit for individuals that are looking to diversify their investment portfolios through the purchase of physical assets. It operates through self-driven gold IRAs and self-storage gold IRAs which allow the investor to maintain full control over their portfolio.
Those Looking for Self-Storage
Goldco offers the option of Self Storage Gold IRA and will assist the customer in setting up a Limited Liability Company (LLC) which then allows investment of the customers’ IRA. This gives the customer full control over the investment portfolio and legal distinction from Goldco. They do a great job of making you feel secure and keep your investments safe and accessible, unlike some other companies who have not so great client reviews like Lear Capital, JM Bullion and Monetary gold.
Goldco stresses the benefits of owning physical assets to minimize or eliminate the reliance on the volatile stock market. Precious metals are less impacted by fluctuating economic situations than other investments. Precious metal IRAs are more straightforward than complex investment portfolios full of stocks and bonds.
Those Who Desire Excellent Customer Service
Goldco provides exceptional customer service and educational opportunities. They are committed to ensuring that its investors understand the process and the benefits of gold and silver IRAs before any purchases are made.
Goldco is a good choice for both experienced investors and first-timers. Goldco’s agents are not pushy and do not rely on jargon-heavy language. Ease of use and the availability of assistance make this company universally well suited.
Many facing retirements in the coming years are afraid of an uncertain financial situation and physical assets like gold and silver offer some measure of protection against an economic crash. Physical assets maintain value even when inflation reduces the value of cash, stocks, and bonds.
Goldco has the benefit of providing self-driven IRA accounts which leaves control of the investments in the customer’s hands. Because gold and silver IRAs are more straightforward in comparison to other types of investments, it is easier for laymen investors to effectively manage their portfolios. Self-driven IRAs are also considered to be tax favorable.
Goldco makes it easy to buy additional precious metals to supplement existing accounts as well as offering buyback.
Goldco Precious Metals Services & Products Offered:
Goldco offers the following services. In all cases, IRAs are self driven:
- Gold IRA
- Silver IRA
- 401(k) Rollover
- Self Storage Gold IRAs
- Non-IRA sale of gold and silver
Goldco offers the following products:
- Gold and silver coins that are IRA approved. The IRS publishes requirements as to the types of gold and silver coins that can be part of an IRA account.
- Gold and silver bars. Goldco’s gold is 99.9% gold which meets the IRS standards.
- Gold and silver bouillon
- Collectible coins
Goldco Ratings and Reviews:
Goldco has an A+ rating with the Better Business Bureau (BBB). They have been a member of the BBB since 2011 and have seven customer complaints on file. Four of the complaints are considered resolved and three are answered and in the process of resolution. The complaints are mostly concerned with minor communication issues and the company is quick to correct any issues.
Goldco has a AAA rating with the Business Consumer Alliance (BCA). There are no complaints on file with the BCA.
Customer reviews for Goldco are overwhelmingly positive. Customers praise the business for exceptional customer service, ease of use, and educational resources. The one point that comes up repeatedly in customer reviews is the exceptional IRA Specialists and the customer service that they provide.
Consider this review from the BCA:
I had many questions as a new customer and he was able to answer all my queries. Having a friendly, personal relationship with staff in a company goes a long way toward a positive experience.
This review is from the BBB:
Great experience dealing with this company. Great customer service, with the agents always taking time to stay in touch while explaining each step in detail. They take your information and make recommendations to help you decide what's best for you. This company is also endorsed by Chuck Norris who's name speaks volumes for the company's reputation.
Goldco has 5 out of 5 stars from Trust Link.
They have a 4.8 out of 5 stars with Consumer Affairs and a 4.9 out of 5 stars with TrustPilot.
This review is from Consumer Affairs:
I recently rolled over my IRA and my experience with Gold Co was pleasant and painless. My representative was very knowledgeable and kept me informed with every step of the process and answered all my questions. They even assisted me with rolling over my funds. I highly recommend this company, it was a good experience.
Check out this review from Trust Link:
I had a wonderful experience. The representatives were very helpful and knowledgeable. Excellent customer service and I would refer family and friends.
This review from TrustPilot highlights the importance of ensuring the customer feels secure in each step of the process:
My salesman was knowledgeable, honest and importantly no pressure. That mattered to me because it was my first time purchasing precious metals.
Goldco’s feedback repeatedly highlights exceptional customer service, the company’s integrity, and the way the entire process was made easy and understandable.
What Makes Goldco Stand Out From the Crowd?
Goldco prides itself on its comprehensive customer service. Experts are available via email and phone to assist in the process at any time. Their experts also handle most of the required paperwork during the process of creating the self-driven IRA.
They provide extensive educational materials. They have an educational blog on their website that is frequently updated with relevant information. They provide videos and written reports on the state of the economy in an effort to keep customers updated and well-informed. Goldco also has published books about gold IRAs.
Goldco’s educational materials are not limited to precious metal IRAs and their own business. Their blog is frequently updated and contains articles about all sorts of financial topics that customers may find informative. Posts include topics like recessions and the debt bubble.
Goldco offers several e-books for download from their website.
One of the most important things that make Goldco stand out in the crowd is the availability of their IRA Specialists. Their communication is exceptional. They return phone calls quickly, are available to answer any questions the customer may have, and assist in every step of the process.
Goldco makes it so that their customers do not face any step of the process by themselves. Not only does this streamline the process, saving the customer time and money, but it also makes it easier for customers to invest with confidence. Their customers can trust in the integrity of the company.
Goldco understands that the average investor has a limited understanding of how investments work. Their specialists meet the customers where they are and ensure that they feel comfortable with every decision before they purchase anything. Goldco treats their customers like family and it shows.
Their IRA specialists are informative without being condescending. They are committed to providing education without relying on incomprehensible jargon.
One service that makes them stand out is its assistance with rolling over existing IRA accounts. This service is especially helpful to many investors who are interested in turning intangible assets into gold and silver. The process can sometimes be confusing and the Goldco specialists will help the customer to file the necessary paperwork to complete the process.
How to Get Started with Goldco Precious Metals and the Buying Process
As long as you are 70 years old or younger and have earned income you meet the base standards for IRA transactions.
There are no age or income restrictions on non-IRA transactions.
The first thing to do is get their free IRA guide-when you download this you will put in your contact information. From there they will reach out and help you start the process!
The initial appointment with the IRA specialist is comprehensive. The specialist and the customer spend time discussing the process, what their goals are, and they will start to collect information that will allow the specialist to begin the application process.
The specialist then helps the customer to begin the process of setting up the account. They are there every step of the way.
Goldco prides itself on keeping the process simple. They describe it as three steps.
1. Open a new IRA account
2. Determine how to fund the account
3. Make purchases
1. The first step in the process is to open a new self-driven precious metals IRA.
Goldco will assist with the process from start to finish. They don't manage the IRA accounts.
2. Once the account has been opened it must be determined how to fund it.
Typically, IRA accounts are funded through money transfers from a bank account. IRA Specialists can also aid in the process of rolling existing IRAs over into the new IRA account.
It is possible to fund the new account through a rollover from an old IRA account.
Goldco’s specialists will assist with this process, making the whole thing simple and straightforward.
It usually takes approximately 10 business days for the rollover to process.
3. The final step is to make the purchases.
This is where Goldco’s IRA specialist agents truly shine. They are industry experts and can help to determine the best combination of gold and silver to best meet the investor’s needs. IRA Specialists can advise investors down to individual pieces, such as coins, that are likely to increase in value over the years until the investor is ready for retirement.
Once the purchases are made the gold and silver will be transferred to the partner company that will provide custodial services. Goldco uses one of three storage providers: Delaware Depository, IDS Texas, and Brinks Salt Lake City. Their preferred provider is Delaware Depository and they will use this provider unless you request otherwise.
Your gold or silver will be transferred to the facility in about 10 business days from the time that the sale is finalized. In some cases, the process might take up to three or four weeks. Once the transfer has been finalized you will be informed.
One of the best things about Goldco is that you are not alone in what can feel like a very complicated and confusing process.
How Does the Buyback Program Work?
One of the biggest questions first-time investors have is what to do with the metals once they are ready to retire. The good news is that Goldco does offer to buy back the gold or silver coins, bars, or bouillon that you acquired through them.
Goldco offers competitive market rates that are likely to be a better deal than collectors or other businesses. They do not lowball their offers and offer transparency in regards to their rates.
You are not required to sell your precious metals back to Goldco but it is a huge convenience to customers.
Not having to track down a buyer and make your own arrangements will save considerable time, energy, and money.
Are you ready to diversify your portfolio and set yourself and your family up for a comfortable retirement?
Visit Goldco's Gold IRA guide site, put in your information and then they will reach out to you. T
his is the most efficient way to get in contact with them!
Our Final Word:
Goldco Precious Metals is a precious metals IRA brokerage company that has been in operation for 15 years. They are a respected business in their industry and maintain exceptional ratings with the BBB and BCA. Customer reviews are overwhelmingly positive for Goldco.
They prides themselves on providing excellent education and easy-to-use service for investors of any experience level. They provide a comprehensive experience that allows customers to feel good about their decisions and to trust that Goldco has their best interests at heart.
Goldco is a trustworthy and well-respected company and that is why they are our #1 recommendation!
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