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Goldco Review

Goldco Review

What is Goldco? A Little Company History

Goldco is a medium-sized company that was founded in 2006 by Trevor Gerszt. Its headquarters are in Woodland Hills, located in California, and provides precious metal IRAs subsidised by palladium, silver, gold, platinum, or an amalgamation of these metals. Precious metal is an alternative to common investments in funds, stocks, or bonds.

This kind of IRA investment did not exist before 1997. The Taxpayer Relief Act, 1997 introduced the possibility of investing in precious metals. Goldco was named the number one gold IRA company in 2015 and was the number three firm in the financial sector. It was also named one of the top twenty fastest-growing companies in the United States Inc 5000.

Other ways Goldco invests include building a precious metals portfolio or getting physical gold and silver for direct investment. Goldco is highly rated by Better Business Bureau and Business Consumer Alliance. Chuck Norris and Ron Paul, a former presidential candidate, are among the leading public figures who have endorsed it.

Goldco’s main business comes from people looking to move their traditional IRAs and 401(k)s to gold IRAs. The firm offers gold and silver offerings that have been approved by the IRA. It does not deal with other precious metals like palladium and platinum coins. Goldco does not promote the availability of silver and gold bullion bars and ingots.

In 2017, Goldco firm added cryptocurrencies to their investment portfolio with a subsidiary of the company CoinIRA.com, which was set up in the same year, handling the IRAs from cryptocurrency.

Goldco is a leading firm because of its impressive growth. In 2017, Goldco’s sales increased by more than 600% to $89.5 million.

Table of Contents

What Goldco Offers

The decision to invest in precious metals IRA may suit some investors, especially when compared with the sometimes turbulent nature of the stocks and bonds market. This kind of IRA is appealing to investors who want a tangible asset. There are different products you can put your money in from Goldco.

How Much To Invest?

Professional investors recommend  5 to 10 percent of your retirement funds allocated to Precious Metals IRA. This reduces your risk while giving you stability of precious metal values which have been known to be stable. (https://www.forbes.com/advisor/retirement/precious-metal-ira-gold-silver/)

Services Offered by Goldco

It is crucial to remember that Goldco is a precious metals facilitator, not a custodian of your current IRA. They will, however, aid you in implementation of the account opening application with a custodial business. Goldco helps consumers buy IRS-approved coinage and bullion for their Precious Metals IRAs. It also arranges these acquisitions with the customer’s depository and safekeeping. Goldco can help you transfer your existing pension assets as well.

Some of their services are:

Precious Metals IRA

Goldco offers gold and silver IRAs, and there is an option of combining the two. Goldco stores the gold and silver in a vault in the custody of a third party because it neither offers custodian services nor storage facilities. They have a list of vendors whom they recommend to their customers.

An Equity Trust Company is its favored IRA custodian. All these are within IRS regulations for dealers in precious metals IRAs. Eligible investors for Precious Metals IRA are aged below 70 and have an earned income. You’ll need at least $25,000 to open an account.

Non-IRA Precious Metals

An investor can buy precious metals through the company instead of doing it directly. It gives an advantage to people who are not eligible for the Precious Metal IRA.

Once you purchase the precious metals, you can store them yourself, either in a third-party vault or in your home vault.

Silver And Gold Coins

You can purchase gold and silver coins that the IRS has approved. These coins are of a certain purity, and Goldco has gold of 99.5% pure, and silver is 99.9% pure.

Cryptocurrency IRAs

The newest product offered by Goldco is under their subsidiary CoinIRA. It is an option for investors who are interested in digital currencies.

401(k) Rollover

This is where an investor moves a part of their investments from traditional investments such as mutual funds, stocks or bonds to Precious Metals IRA.

Roth and Traditional IRA Planning

A Roth IRA is a retirement account that offers tax-free growth and tax-free withdrawals during retirement. Goldco has expertise in comparing traditional IRAs and Roth IRAs and can help in rolling them over to precious metals IRA after assessing your best options.

SEP IRA Planning

Goldco will give information such as eligibility conditions and contribution restrictions to help you better understand and make an informed decision.

Simple IRA Preparation

Goldco shows how to set up a Simple IRA and how the regulations for gold and silver IRAs operate.

Cost Of Operating Goldco IRA

Depending on the kind of investment you will take up, there are various fees:

• Precious Metals IRA

The first year’s investment with Goldco costs $260. You pay $50 to start up an IRA, $150 for non-segregated storage, $80 for annual maintenance, $30 for a wire transfer, and $100 for segregated storage.

If you integrate your IRA with non-segregated storage, you will pay $260 for the first year and then $180 every following year.

If you opt for segregated storage, that’s a $50 extra charge. Your first annual payment will be $310 and subsequently $230 annually after that.

• Non-IRA Fees

There is no cost for non-IRA fees for the first year and the years after that.

• Minimum Investment Funds

Precious metals IRAs range from $20,000 to $25,000.

The Non-IRA services will be at the cost of $3500.

Goldco Reputation

Goldco is a highly rated company according to their customers and industry experts.  Their expertise in the process of buying precious metals, selecting custodians, and third-party storage options makes them a valuable resource for investors.

Goldco is rated A+ by the Better Business Bureau and is rated A+++ by the Business Consumer Alliance. The ratings are based on customer reviews. The other considerations are ethical business practices and stability.

There have been some negative reviews. These come from investors who did not understand the precious metal IRA, how it works, how they are computed, and the investment returns. For instance, the most shared negative reviews were from Goldco’s collectable coin value.

The IRA lists the melt value, which is the total value of the metals when melted. The coin value is different from the melt value. In many cases, the investors think the coin value should be similar to the melt value.

What Makes Goldco Different From Others

What sets Goldco apart from other companies is its advisory services. The investment advisor will consult with you and assess your needs and goals for your portfolio. The role of the advisor is to help you with your options rather than sell you into an investment option you are not sure about.

With the information you receive, you are encouraged to ask for clarifications until you are satisfied.

Goldco will give you a list of the IRS regulations and list their recommended custodians and equity trust firm.

Low fees

The cost of establishing your IRA with Goldco is cheaper than most in the market.

Special Offers For new customers

If you open an account with at least $50,000, you will get all fees waived.

Great customer service

Goldco is always available to respond to queries, advise on options available, provide clarity and quick resolution of issues that may come up.

Informative Resources

Goldco provides a lot of information online and through their investments specialist. There is a detailed resource center on the Goldco website with videos, e-books, a constantly updated blog, and great customer support. If you are new to investing in precious metals IRA, this is a great place to start (free gold IRA info kit offer below).

Rollovers

Goldco facilitates the  rollover process from 401Ks, which makes the process easy and seamless.

Live price trackers

Goldco has live price trackers on the website for gold, palladium, platinum, and silver, which will enable you to track the precious metals market.

Why Goldco Is A Good Choice

Goldco is a proven investment firm with steady benefits for its customers. The ratings for the company are good, and the firm continues to grow in size and investment portfolio.

Pros

• They have great reviews from customers
• They are highly rated by industry experts
• Offers comprehensive guides both online and via customer support
• Their annual fees are low
• Great customer service
• Offers new client promotions

Cons

• The minimum investment amount is high compared to other firms
• Have to register account physically

Keeping Track of Precious Metals Investments

Goldco does not have a traditional customer dashboard like in stocks and bonds. However, the customer can track their investment using an Equity Trust and Self-Directed IRA as its custodians. Both have customer dashboards you can use to check in on your investments.

How to Get Started with a Goldco

To get started with Goldco, go to their website and open an account. Their customer representative will contact you to proceed.

Final Words

Having different investment options in your retirement portfolio may offer diversification of your retirement funds. Goldco has a proven record of experience in facilitating in setting up your IRA account, helping you to decide on the best investment options, and simplifying the work of moving and storing the precious metals you have invested in.

Goldco will work with a storage facility that satisfies IRS requirements and an IRA custodian. 

Goldco may be a great option for beginner investors and intermediate investors alike. Its growth over the years is a testament to its viability. It has also remained stable even in a recession and showed growth without being affected by the financial downturn in the United States.

Free Gold IRA Information Kit