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Goldco Reviews

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A Comprehensive Review of Goldco

If you are looking for an effective way to protect your investments from volatile stock market conditions and runaway government spending, you should consider investing in precious metals, and in particular a gold ira.

The great thing about them is that, unlike mutual funds, stocks, and bonds, which are all tied to the dollar, precious metal IRAs stand on their own. If the stock market was to crash, the price of precious metals such as silver, gold, platinum, etc. is not affected. In fact, it usually rises during such periods.

If you are looking to strengthen your portfolio through precious metals investments, you should consider partnering with Goldco, which is a company that focuses mainly on precious metals investments and specializes in precious metal IRAs.

Who Are Goldco?

Goldco Precious Metals, which is commonly referred to as Goldco is a precious metals company that has been in operation for well over a decade and was founded back in 2006 by Trevor Gerszt and is based in Woodland Hills, California. The company provides self-directed precious metal IRAs funded by silver, gold, or a combination of these metals as opposed to traditional investments in bonds or stocks.

Why Invest in Precious Metals?

Goldco offers its clients retirement products, which are backed by physical precious metals and not paper assets to help them avoid financial market crashes such as the one that happened in 2008. Goldco provides a number of reasons why investors should consider investing in physical precious metals, which include
– Rollover Ease: You might be surprised at just how easy and effortless it is to transfer your existing retirement funds into a precious metals IRA. – Tax Benefits: Precious metals IRAs, just like regular IRAs offer users the ability to accrue gains without tax obligations.
– Financial Stability: The supply of precious metals such as gold increases by only a minuscule amount each year, which means that there’s little risk of inflation. In contrast, the average inflation rate associated with fiat currencies is about 2 to 3 per cent annually.

– Investment/Portfolio Diversification: Investing in precious metals can protect against default risk, currency risk, financial crises, geographic risk, currency risk, and even inflation. If you are close to retirement, this security is a luxury that other asset classes simply don’t offer.

– Wealth Appreciation: The price of precious metals such as gold has increased consistently over the years despite the stability of their supply. In fact, gold has managed to outpace the stock market for almost half a century.

Asset Diversification – diversifying your assets, and in particular, your retirement portfolio can help you manage risk and reduce the potential market volatility.

Taking into account your own personal circumstances, investing in various metals, such as gold and silver by rolling over your traditional and Roth IRAs may be a good way for you to diversify, but you need of course to take the relevant advice from financial professionals before making such a decision.

Speaking with a Goldco representative is a good start, but again, make sure you are comfortable purchasing metals and rolling them over into precious metals IRAs. You never want to transfer all your funds from your traditional retirement accounts, into any one investment vehicle, let alone a Gold or Silver IRA.

Goldco Services and Products

Goldco offers its customers a wide selection of products and services, which include the following:

I. Cash Sales of Precious Metals

Goldco can help you identify the precious metals that are right for you, help you buy them at competitive prices, and arrange secure and insured delivery of the same to either a secure vault or your home. Storage and delivery are usually free. However, sales are limited to the U.S. and no international sales are available.

II. Precious Metals IRAs

Goldco is one of the leading gold ira companies and can help you purchase IRS-approved bullion and coins to be included in your Precious Metals IRA and coordinates these purchases with the custodian and storage facility of your choosing. The company will also help you roll over your existing retirement account into a Precious Metals IRA. The two most popular Precious Metals IRAs offered are:

– Gold IRA:

A gold IRA is an Individual Retirement Account, which holds physical gold for the account owner. It shares many similarities with a Traditional IRA with the key difference being that it holds precious metals as opposed to paper assets. Goldco provides its customers with information on opening a Gold IRA, including with metals to invest in.

– Silver IRA:

A silver IRA is very similar to a Gold IRA with the key difference being that it uses silver for wealth storage. A key benefit of choosing silver over gold is that it is known to make larger percentage gains in price compared to gold. It can be more attractive to investors looking to grow their wealth. If you aren’t sure of how to start a Silver IRA, Goldco will give you tips on how to get started, what coins are acceptable, and much more.

III. Cryptocurrency IRAs

Goldco works in conjunction with its sister company CoinIRA to help you identify which digital currencies are suitable for you and set up a Crypto IRA if you wish to use it as a means of investing in cryptocurrency. However, the company doesn’t offer the option of combining precious metals and cryptocurrencies in the same IRA.

IV. Traditional IRA and Roth IRA Planning

Goldco gives you the resources and knowledge base comparing a Traditional IRA and a Roth IRA and ill help you get them rolled over into your Precious Metals IRA. Such high-quality information regarding IRAs isn’t easy to find online and the company shines in this regard.

V. SEP IRA Planning

A Simplified Employee Pension (SEP) IRA is a type of plan that’s provided by financial institutions for business owners to provide themselves along with their employees with retirement benefits. If you need clarification when it comes to SEP IRAs, Goldco provides information on things such as contribution limits and eligibility requirements.

VI. Simple IRA Planning

A Savings Incentive Match Plan for Employees (SIMPLE) IRA is a plan that allows both employers and employees to contribute to regular IRAs that are set up for employees. It is best used as a start-up retirement savings plan for the small employers that are currently not sponsoring a retirement plan. Gold explains how to open a Simple IRA along with how the rules work for a precious metals Simple IRA.

How Does Goldco Approach Precious Metals IRA Investing?

Investing in a precious metals IRA is remarkably different from buying paper assets via a brokerage account. Here is a brief breakdown of the process:

Step 1: Account Opening

To get started with your precious metals investing via Goldco, you first need to get in touch with the customer support team to schedule a call with one of the sales representatives who will help you get started with setting up your account.

Step 2: Funds Transfer

Once you have set up your account, it is now time to get it funded. Rollover part or all your current retirement account funds into your newly established Goldco Precious Metals IRA. You will need at least $25,000 to open your account.

Step 3: Metal Selection

The next step is to choose the bars and coins that you would like to add to your IRA from Goldco’s catalog. While the IRS strictly regulates the bars and coins that can be added to IRAs, you don’t have to worry about this requirement since Goldco only offers IRS-compliant bars and coins.

Step 4: Storage

The final step is to place your order to have your precious metals shipped to any one of the 6 of partner depository locations for safe storage. When you are ready to cash out, you have the option of selling the metals back to Goldco or a third-party dealer.

Note: Any precious metals investments that you add to your account must be purchased through Goldco. You cannot add any silver, gold, or any other precious metals you already own to your Goldco account.

What Precious Metals Can You Add To A Goldco Precious Metals IRA?

GOLD

Gold IRAs are not allowed to have numismatic or graded coins within, only approved gold IRA coins or bullion. Whatever type of gold you add to your gold IRA must be approved by the IRS. When setting up your Goldco gold IRA, your account executive will present you with the various options in eligible coins.

The gold coins that you can add to your Goldco gold IRA are:

  • Gold American Eagle
  • gold American Eagle Proof
  • Gold American Bald Eagle
  • Gold Freedom
  • Gold Buffalo
  • Gold Maple Leaf
  • Gold Lucky Dragon
  • Gold Australian Saltwater Crocodile
  • Royal Mint Gold Lunar Series
4 main coins allowed in gold ira

Silver

For a silver IRA, if you are looking to add silver to an existing ira, then Goldco have a good selection of silver coins.

The following silver bullion coins are available from Goldco direct for adding to your Goldco precious metals iras:

  • 1 oz Silver Dragon
  • 1oz American Eagle
  • 1/2oz Silver Freedom
  • 1oz Canadian Maple Leaf
  • 1/2oz Australian Saltwater Crocodile
  • 1oz Lucky Dragon
  • 2oz World War 1 Silver Coin
  • 2oz World War II Victory
  • 2oz American Bald Eagle
  • Royal Mint Silver Britannia Lunar

You can also add silver bars with a purity of 0.9999 and they come in the following sizes for you to choose from 1, oz, 5 oz, 10 oz, and 100 oz.

With Goldco the metals options are limited. Whereas other companies allow investment in gold silver platinum and palladium, with Goldco gold and silver are the only options for investment

1 OZ CANADIAN MAPLE LEAF SILVER COIN

Are You a Good Fit With Goldco?

Goldco is a great investment vehicle for many different people. If any of the descriptions below apply to you, then you could be a good fit:

• You want to invest in physical precious metals

Investing in a company via shares exposes you to the real and serious risk of losing your investment if they ever go into the red and close their doors. With silver and gold, however, there’s no such risk since they generally hold their value rather well. Your portfolio will always be perked up by precious metals investments. It definitely won’t do you any harm.

• You Don’t Want to be Hurt by Stock Market Fluctuations

It can be rather unnerving to follow the stock market. It is due to this reason why metals such as gold silver platinum and palladium are such a great investment. They usually rise in value even when other types of investments fall. So, if you are looking to avoid any uncertainties associated with the stock market, you should seriously consider investing in gold and silver via Goldco.

• You Are Approaching Retirement Age

It might be hard to come by a stress-free retirement if the economy goes through another severe recession. Unfortunately, a recession seems almost inevitable in the coming years. So, whether you are retired or just about to, having precious metals in your investment portfolio can be an excellent way to bring equilibrium to your assets.

 Goldco Reviews And Complaints

When it comes to doing business with any company, it is always good to see what previous customers have said about their experience. We looked at a number of the leading review sites and this is what we found.

At consumneraffairs.com they have a score of 4.8/5 from 424 mainly positive customer reviews as of 5th June 2021

On Trustpilot also as of 5th June 2021, they have a score of 4.8/5 from 576 reviews.

On the Better Business Bureau, they have a score of 4.9/5 from 119 customer reviews.

The complaints we saw across these sites were few, but nonetheless important, especially to the people who made them. The majority were related to communication issues, which Goldco worked on resolving.

Goldco Fees

Fees for Precious Metals IRAs

If you are looking to set up a Precious Metals IRA with Goldco, you will be faced with a few one-time fees. The initial setup fee for your IRA is $50 while the wire fee for the initial transfer costs $30. You will also be required to pay an annual maintenance fee of $80.

Storage fees for precious metals are $100 for non-segregated storage and $150 for segregated storage. If you choose non-segregated storage, you will pay just $260 in total fees for the first year. If you choose segregated storage, you will have to pay $50 more, which will be $310 for the year.

Fees for Non-IRA Transactions

If you are looking to purchase your precious metals outside of an IRA, it is possible to do so via Goldco for no more than the cost of the asset itself. You won’t be required to pay any fees for setup, maintenance, or even storage. Shipping fees, however, are still applicable.

What Makes Goldco Unique

Goldco is an attractive option for many precious metals investors for a variety of reasons, which include the following:

Special Offers for New Customers

Goldco offers new customers 2 offers to consider:

– Waiving of fees for the first year if you have an account with $50,000 or more

– 5 percent refund in metals for qualified orders of $50,000 or more

Simply put, if you have an account with $50,000 or more, you could get $2,500 in metals thus saving as much as $320.

Exceptional Customer Service

The greatest goal of Goldco is to do right by its customers. If you want to buy precious metals or invest in a precious metals IRA, Goldco’s customer service team does a great job of providing the necessary assistance throughout the process. The company doesn’t use aggressive sales techniques.

Great Education Resources

If you want to learn more about how precious metals investments work, you can find all that information in the education center integrated into the Goldco website. You will find a very comprehensive blog that covers many essential concepts. The company also provides information, tips, and advice regarding precious metals investments via video format.

Buyback Program

If you need to raise money and don’t know what to do with your precious metals, Goldco has a great buyback program. The great thing about Goldco’s buyback program is that you will often get a much better rate than other dealers online. While you have the option of selling your precious metals to any business you like, it is generally much easier and rewarding to stick with Goldco.

Low Fees

Goldco’s fees are very affordable and allow you to hold onto your money as opposed to putting it all on metals. If you start a precious metals IRA, you can expect to pay at least $260 in fees for the first year and $180 annually for subsequent years. If you don’t start an IRA, you basically won’t pay anything in fees. It is actually possible to have your metals stored completely free, which isn’t the case with many other precious metals firms.

401 (k) and IRA Rollovers

If you already have a retirement route and wish to bring all those funds to your precious metals IRA, it is not too difficult to make the transfer with Goldco.

All you need to do is:

– Start your Goldco Precious Metals IRA

– A Goldco specialist will assist you with linking your old and new IRA

– A specialist then works with you to find suitable metals for you after you have transferred funds

You should always work closely with your IRA specialist during this period. You can expect the entire rollover to take about 10 business days to be fully complete.

Advanced and Secure Storage

Storage for your precious metals has to be properly accredited due to the IRS guidelines. The storage agencies that Goldco works with are some of the best in the industry and all use sophisticated, modern techniques to keep your items safe.

 

Our Final Verdict on Goldco

Goldco is the company to work with if you are looking to invest in precious metals. The company genuinely seems to care about its investors. It is even quite easy to do things such as setting up your account. If you don’t wish to invest in an IRA, you will be working with an account executive who will work hard to ensure that you get your metals without delay.

If you want to boost your investment portfolio or simply want to introduce precious metals into your assets, then you should seriously consider partnering with Goldco.

Goldco Review Score
  • Fees - 9.7/10
    9.7/10
  • Scores on the likes of BBB BCA and Truslink - 9.7/10
    9.7/10
  • Customer Service - 10/10
    10/10
  • Education - 9/10
    9/10
  • Ease of Purchase - - 9/10
    9/10
9.5/10

Summary

Goldco is fast gaining the reputation as one of the best gold ira companies around. This is due to their dedication to providing high-quality service to all of their clients, as well as educating potential clients as to whether a gold IRA is right for them. When you look at their various reviews across the internet at places such as the BBB the Business Consumer Alliance where they have a AAA  score, and Trustpilot where they have a rating of excellent, it is obvious that this is a company that highly values its clients.

Pros

  • A rating of A+ with the Better Business Bureau (BBB)
  • Exceptional customer service
  • Free storage for non-IRA precious metals
  • Low fees
  • Buy Back Facility
  • Often has special offers such as free silver with gold purchase

Cons

  • You cannot set up an account online
  • The minimum deposit for an IRA starts at $25,000
  • Goldco doesn’t offer other metals like platinum and palladium, only gold and silver coins and bullion.