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Goldco Review 2022 | Fees, Ratings, Pros & Cons

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This is the perfect opportunity to invest in precious metals if you haven’t already. In unpredictable times, such as the one we are currently experiencing due to a looming global recession, it is critical to turn to safe-haven investing to safeguard and develop your finances.

While equities, bonds, and mutual funds are all tethered to the dollar; precious metals are self-contained. Traditional securities such as stocks, bonds, and mutual funds have typically moved in the reverse direction of precious metals. Whenever the stock market dips, gold and silver prices usually rise.

Pick a company like Goldco if you want a proven and true investment that can give security to your portfolio.

Who is Goldco?

Goldco Precious Metals, popularly known as Goldco, is a reputable and professional precious metals company. Trevor Gerszt founded Goldco in 2006. The company is based out of Woodland Hills, California; Gerszt imagined a company that would assist each client in making solid financial decisions. For the past two decades, they have helped thousands of consumers expand and build their wealth by investing in actual metals such as gold, silver, platinum, and palladium. Furthermore, precious metals are offered to customers directly.

Goldco’s goal is to use precious metals to enable Americans to secure their retirement funds against stock market volatility and inflation.

Goldco has been trading IRA-approved gold and silver coins for a long time. They specialize in helping you choose precious metals suitable for you.

Collectors and investors can buy precious metals coins and bullion directly from Goldco. Goldco was rated the third fastest-growing financial services firm in the San Fernando Valley Business Journal.

It was also recognized as the fastest-growing company of the year 2021 in the greater Los Angeles Area by the Los Angeles Business Journal.

Pros and Cons

  • The Better Business Bureau (BBB) has given an A+ rating.
  • Fees at Goldco are lower than average.
  • Positive feedback and ratings from customers.
  • New customers can take advantage of exclusive offers.
  • Education materials are provided for both new and existing clients.
  • Non-IRA precious metals can be stored for free.
  • Full transparency of the company’s history.
  • Goldco’s experts have a long-combined investment experience.
  • Investing that is completely hands-off. A Goldco gold or silver IRA requires no guesswork, your account administrator provides you a portfolio of existing coins and bars, and you choose what you want to buy.
  • If you’re unsure whether your retirement savings account qualifies for a rollover, a member of the team can help you figure it out.
  • A gold IRA provides you with the same tax benefits as a traditional IRA.
  • Goldco is not forthright about the fees it charges its customers.
  • Existing precious metals cannot get added. You must purchase any holdings for your Goldco IRA through Goldoc.
  • The website does not have a list of coins and bars that can be purchased (not through an IRA).
  • You cannot open an account online; instead, ask for a free gold IRA Guide.
  • The minimum deposit for a Goldco gold or silver IRA is $25,000, higher than the $5,000 required by several of Goldco’s rivals.

Can you trust Goldco?

Yes, Goldco is a legit business. The company has extensive expertise and is prepared to assist you in protecting your retirement savings. A Goldco gold IRA is, indeed, a secure investment. To begin with, just like any other IRA asset, your precious metals assets are held by a custodian.

Gold IRA custodians, in particular, specialize in storing precious metals and have secure vaults in which to store them.

They also carry insurance to protect your investments in the extreme event that certain metals are stolen or damaged due to an act of God.

Goldco’s Credibility and Accountability

We collated Goldco’s complaints, reviews, and ratings from trusted third-party sources.

Let’s take a look at Goldco’s track record:

  • The Better Business Bureau has given an A+ rating (highest rating)
  • The Business Consumer Alliance has given AAA grade (highest rating)
  • On Trustlink, there are 253 reviews with an average rating of 5 stars
  • On Consumer Affairs, there are 591 total reviews with an average rating of 4.8/5 stars.
  • On TrustPilot, there are 652 reviews with an average rating of 4.7/5 stars.
  • For gold and silver IRAs, former Presidential candidate Ron Paul has promoted Goldco Precious Metals.
  • Sean Hannity is currently endorsing Goldco. Hannity is the popular talk show host of The Sean Hannity Show that dominates it’s airtime and who supports policies that did not lead to the failure of Detroit, San Francisco, and Baltimore but to the leading economies of Texas and Florida and America in the 80s and from 2017 to 2020. He is also a conservative political commentator who’s being proven right every day in this inflationary and high energy cost market. 
  • Goldco was honored as the company of the year 2021 (financial services) in the reputed American Business Awards.
  • Goldco also recently partnered with movie star Chuck Norris to help Americans in protecting their retirement assets.

Goldco’s Education Tools Offered

Concerning investing, understanding what you’re doing is crucial. As a result, Goldco ensures that its clients and investors are well-versed in the business. 

Clients can access a wealth of instructional resources on the company’s website. Here are a few examples.

  • Beginners Guide to a gold IRA
  • Having a gold IRA retirement plan
  • You can also request a free kit.

Recessions, trade conflicts, and other topics are discussed in-depth on this site. Stock market crashes, currency fluctuations, and many other topics are addressed in educational videos. You can track the price of several precious metals in real-time.

Goldco’s Reputation

Before investing in anything, whether it’s stocks, bonds, gold, or silver, it’s critical to do your homework. How can investors tell if they’re dealing with a reputable gold IRA dealer? Luckily, the Internet makes it harder for businesses to remain anonymous. Customers can vent their grievances with gold IRA businesses by going online.

In their 15+ years of serving gold IRA consumers around the United States, Goldco Precious Metals has created an extremely favorable online reputation. Goldco continues to be a highly regarded corporation in its field, on par with its notable competitors and first among the sector’s main rivals.

We’ve gone through the process of vetting many businesses. Only a few companies have made our list of credible gold IRA partners. Goldco as it turns out has an impeccable rep. Despite their many years in operation, it is impossible to discover any unfavorable reviews about Goldco.

Goldco’s Precious Metals Fees

Goldco’s pricing and fees are not listed on their website, although company officials stated that a minimum purchase of $25,000 is recommended. With a $25,000 investment, Goldco will reimburse storage fees for a year in the form of like-value silver delivered to the account owner. Note that this silver is not included in the account holder’s IRA, and the account holder is responsible for paying the storage firm fees in advance.

Goldco’s charges are also $175 per year at the $25,000 investment level. Goldco will ship silver worth a year’s value of storage fees to the account holder for every extra $25,000 invested. Fees with Goldco do not increase until you invest $100,000, at which point they rise to $225 each year.

  • Minimum Purchase Requirement: $25,000 suggested as a preliminary step.
  • Yearly Fee: $175; escalates to $225 if you invest $100,000.
  • Storage Fees: Varies depending on Custodian. For every $25,000 invested in the form, Goldco reimburses one year of storage fees. not to be included in IRA holdings of “like-value” silver.
  • Custodian Fee: Depends on custodian company.
  • Metals Currently offered: Gold bullion and coins approved by the IRS. Also available in platinum, palladium, and silver.

Goldco’s website offers charts with live gold, silver, platinum, and palladium values in the United States because the price of gold swings daily. What factors influence gold’s price? The factors include gold production/mining, central bank reserve instability, interest rates, and inflation.

Services provided by Goldco

Goldco’s Precious Metals IRAs are divided into gold IRAs and Silver IRAs. It’s crucial to understand that Goldco only works as a broker for buying and selling precious metals. It does not act as a custodian of your IRA account. But they do say they’ll help you fill out the paperwork with a custodian company. 

Goldco works with customers to help them purchase IRS-approved coins and bullion for their Precious Metals IRAs. They also arrange these purchases with the customer’s custodian and storage facility. They can also help you roll your current retirement savings over to a Precious Metals IRA. The following is a complete list of Goldco’s products:

  • Gold IRA: Goldco offers advice on how to create a Gold IRA and what metals you can invest in.
  • Silver IRA: If you’re unclear on how to get started with a Silver IRA, Goldco has information, as well as which silver coins get accepted.
  • 401(k) Rollover: Goldco assists in rolling over your customary or some other form of IRA into a Precious Metals IRA.
  • Traditional and Roth IRA Planning: Goldco provides tools and information on the differences between a Roth and a Traditional IRA, as well as assistance in rolling them to a Precious Metals IRA.
  • SEP IRA: For questions about SEP IRAs; Goldco addresses concerns regarding eligibility requirements and contribution limits.
  • Simple IRA: Goldco shows how to open a Simple IRA and how the rules for Simple gold IRS and Simple silver IRAs work.

Benefits of Goldco

Precious metals IRAs offer an interactive investing opportunity when you need to save for retirement. The good news is that precious metals provide asset diversity, which can enable you to hedge against inflation, as well as tax-advantaged accounts.

Hands-off investing

Having a Goldco account comes with several advantages. Hands-off investment is one of them because a silver or gold IRA requires very little effort. You will be assigned a personal account administrator who will provide you with a list of available bars and coins. Thus, you can simply select the precious metals you want to buy.

Interactive opportunity

Precious metals IRAs offer an interactive investing opportunity when you need to save for retirement. The good news is that precious metals provide asset diversity, which can enable you to hedge against inflation, as well as tax-advantaged accounts.

Keep in mind that there are many different types of gold you can buy with a Goldco IRA. Which comprise American Eagle, Buffalo, American Eagle Proof, Maple Leaf, Lucky Dragon, and gold bars. Keep in mind that there are many different types of gold you can buy with a Goldco IRA. Which comprise American Eagle, Buffalo, American Eagle Proof, Maple Leaf, Lucky Dragon, and gold bars.

Simple Process

Goldco, on the other hand, has a solid online reputation, with excellent ratings on multiple reliable review sites. Some investors claim that the procedure of rolling current cash into a Goldco account is not only simple but also easy to manage, according to a Goldco review.

Knowledge and experience

Your retirement fund should be able to support you for several years after you retire. Hence, all adjustments to the investments should be taken seriously. Goldco has extensive knowledge of precious metals IRAs and the market. They can use this knowledge to help their investors make decisions. These include precious metals IRA investment possibilities and also precious metals IRA rules.

Simplified Work

Fortunately, Goldco also aims to make the logistics and paperwork associated with moving physical assets as simple as possible. When it comes to working with the IRA custodian, some logistics can be simplified. They have a group of businesses, as well as IRS-approved storage facilities and trustworthy metal brokers. So, if you are looking for a metal broker, you should contact Goldco to learn more about their services.

Purchasing From Goldco

Purchasing conventional assets through a trading account is not the same as investing in a precious metals IRA.

Here’s how it works:

  • Create a user account. Contact Goldco’s customer service team to arrange a meeting with the company salesman.
  • Make a money transfer. Fill your Goldco precious metals IRA with some or all of your existing retirement funds. To start an account, you’ll need a minimum of $25,000 cash.
  • Choose your metals. Select coins and bars from Goldco’s catalog to add to your account.
  • Place metals in storage. Order your metals to get transported to one of Goldco’s depository sites.
  • Goldco purchases precious metals on your behalf and manages your account as the account broker.
  • Subsequently, your metals get shipped to one of its six partner depositories, where they are safely secured.
  • You can sell your metals back to Goldco or a third-party dealer when the time comes to cash out.
  • Goldco gold and silver IRAs are available to investors who want to start a new account or rollover an existing IRA or 401(k). You must have at least $25,000 to open an account. 
  • If any precious metal investments get added to your account, you must purchase through Goldco. You cannot add gold or silver that you currently own to your Goldco account.

How can you start?

Customers can call Goldco directly or fill out an application online to open a Goldco Precious Metals IRA. Personal identifying information, such as social security numbers, will be requested when opening an account, as with any other financial account.

Goldco will help you open an account with one of their recommended precious metals custodians if you don’t already have one.

Goldco will send you a full handbook explaining the possibilities of the precious metal as part of the setup process. Then you can research before deciding what types of metals to put in your IRA.

Investing with Goldco is a great way to diversify your portfolio.

A Precious Metals IRA may be an enticing choice for customers who believe the stock and bond markets are too volatile. Precious Metals IRAs also appeal to those who prefer a tangible asset over a stake of a corporation whose value may fluctuate due to mergers or the company’s eventual demise.

Goldco provides brokerage services for precious metals-funded IRAs in accordance with IRS guidelines. When a customer begins getting distributions from their IRA, they have the option of purchasing the physical precious metals back or selling them on the metals market. Goldco, on the other hand, does not focus on providing custodial or storage services, although they can support clients in setting up such services through authorized partners. Goldco is well-known for its quick growth and extensive recognition. With revenues of $89.5 million and a growth rate of 676.77 percent, Goldco was ranked 670th on Inc. Magazine’s Inc. 5000 list of the country’s 5000 fastest-growing private companies in 2017.

The Good News

The good news is that if you wish to sell your precious metals later, Goldco will buy them back from you at a significantly lower price than other coin dealers.

What is the requirement for The Buy-Back Program?

When you’re ready to sell your metals, Goldco will advise you to make them their top priority. Goldco is more likely to provide you a better deal than a random coin dealer or broker who will try to make a counter offer. 

However, you are under no obligation to return your metals to Goldco. Making that choice is entirely up to you.

Features

  • Gold and silver IRAs are available.
  • You can diversify our investing portfolio with a Precious Metals IRA from Goldco.
  • When you’re ready to start withdrawing money from your account, gold and silver keep their value well and are simple to liquidate.
  • Goldco’s crew is knowledgeable and ready to assist you anytime you need it.
  • For investment, they have a wonderful assortment of gold and silver coins and bars.
  • To learn more about investing in precious metals with a gold IRA, you may request a free Self-Directed IRA handbook.
  • There are numerous eBooks, movies, and other resources available on their website.

Q&A with Goldco

Should my precious metals need to be bars or can they be coins?

While some coins can be used in Precious Metals IRAs, only a limited number of coins have been allowed by the IRS for use in IRAs. In truth, not all bars or bullion are approved by the Internal Revenue Service. The IRS keeps track of which precious metals are permitted for IRAs. Goldco offers a wide range of precious metals for IRAs that adhere to IRS regulations.

Do I have to use Goldco’s suggested custodian and storage companies or can I use any custodian and storage company?

Yes. You can choose your own custodian and storage firms, while Goldco recommends Self Directed IRA and Equity Institutional as custodians and Sterling Trust for storage.

Is it possible for me to store my precious metals at home?

No. IRS laws prevent you from storing your IRA precious metals at home or in a traditional  safety deposit box. They must be held by an IRS-approved nonbank trustee or a bank thatfollows IRS requirements and keeps all precious metals segregated. This guarantees that the identical metals acquired by a specific customer are returned to that same customer once all legal distribution obligations have been completed. To put it another way, just like a Traditional IRA, your Precious Metals IRA’s access to the precious metals must be controlled. That too, very precisely to guarantee that deposit and disbursement regulations are observed. 

Are the precious metals I buy for my IRA guaranteed in value?

No. The future value of precious metals, like all investments, is not guaranteed and can rise or decline depending on a variety of market factors.

When will my Goldco Gold IRA allow me to take distributions?

According to the IRS, you or the beneficiary of your Precious Metals IRA can begin drawing penalty-free withdrawals from the account when you reach the age of 59 and a half.

What is the time frame for converting a Traditional IRA to a Gold IRA?

Typically, two weeks, Goldco emphasizes that each application is unique and that the time frame varies on a situation basis.

The Verdict

Changes to your retirement portfolio, especially IRAs, should never be handled carelessly. Goldco has extensive experience in the precious metals sector as well as Precious Metals Individual Retirement Accounts (IRAs). This knowledge enables them to assist investors with key decisions, Precious Metals IRA rules, and Precious Metals IRA investment possibilities.

They also aim to make the paperwork and procedures of shifting physical assets as simple as possible. In fact, the ease of dealing with a team of organizations, including the IRA custodian, the metals broker (Goldco), and the IRS-approved storage facility, is the aspect most frequently noted in customer reviews as the best solution about Goldco.

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