The main focus of Goldco is to help their customers keep their retirement savings safe and protected by investing in precious metal IRAs including buying silver and gold. Suffice it to say that Goldco is an expert organization that knows everything about precious metals investing. This company has a top-notch reputation with their customers and this shouldn’t surprise anyone. They provide a top-tier white glove service second to no one’s.
Customer service is a huge responsibility that Goldco takes seriously and their team gives them a tremendous amount of pride. Their team works with new customers every step of the way from establishing their account, to funding it, to purchasing IRS-approved precious metals. They even help with gold IRA rollovers to fund their accounts when needed. We also tested their online chat feature, sent them a message, and received a near instant reply.
- They provide their customers with lifetime white glove service as soon as you invest through their organization
- Their buyback program is an excellent option to take advantage of
- This company has a solid reputation with customers and other online review organizations
- They provide customers with multiple storage options based on preference
- Orders more than $50,000 qualify for 5% free precious metals
- New accounts funded with more than $50,000 have their first-year fees waived
- Gold IRA minimum investment amount is $25,000, which is relatively high when compared to other gold companies
An Overview of Goldco
This company takes it upon themselves to understand that retirement saving can be very intimidating at times. Even when investors really understand the right ways to invest and put their money in the stock market, they could end up being wiped out at a moment’s notice if the market crashes.
Unfortunately, many investors lived through the 2008 market crash and realize how quickly their wealth could disappear.
To help mitigate the damage of market crashes like the dotcom crash or the more recent housing market/stock market crash, Goldco is helping investors enter the precious metals market.
Some reasons why investors will benefit from owning physical precious metals include:
- Tax breaks – exactly like a traditional IRA, opening a gold IRA account means earning tax-deferred or tax-free income on your investments
- Rollover simplicity – a simple way to fund your account is using a gold IRA rollover, which is easier than ever through Goldco
- Stable finances – investors never have to worry about gold inflation because the overall supply only increases minutely each year. Fiat currencies, on the other hand, reach 2-3% or more per year
- Accumulating wealth – even with gold supply stability, the value of gold increases consistently year-over-year. In fact, gold has averaged a 10% increase per year since 1971
- Portfolio diversification – purchasing precious metals is a tremendous way of protecting against default risk, inflation, stock market and housing market crashes, and other potential financial crises. Other asset classes do not provide this same level of security
Information about Goldco
Goldco is a private company that focuses their efforts on asset protection and wealth accumulation through precious metals IRA investing. They opened their doors in 2011 and immediately started helping their customers protect portfolios and grow their wealth toward retirement by investing in a gold IRA.
Goldco Contact Info and Hours
- Website: Goldco.com
- Phone: 855-754-4226
- Address: 21215 Burbank Blvd., Suite 600, Woodland Hills, CA 91367
- Monday-Thursday – 8 AM to 5 PM
- Friday – 7 AM to 4 PM
- Closed on Saturday and Sunday
Pricing Structure and Fees
Goldco charges different fees including fees for new account creation, 401(k) rollovers when necessary, and annual depository fees as well. A breakdown includes the following:
- First year fees waived for accounts open with a minimum of $50,000
- Annual storage fee – $180 per year
- Combined storage and account setup fee – $260 for the first year
Gold IRA Storage Options
Customers can store their precious metals and pay the following prices:
- Delaware Depository – non-segregated storage costs $100 per year
- Brinks Global Services – non-segregated storage costs $100 per year
- International Depository Services – only offers segregated storage for $150 per year
- Non–IRA Transactions – no storage fee required
Goldco Account & Purchase Minimums
- Gold IRA account purchase minimum – $25,000
- Non–gold IRA purchase minimum – $3500
- Gold IRA – this type of IRA account allows account holders to purchase physical gold and other precious metals. It’s just like a traditional IRA and possesses the same tax benefits, but account holders purchase gold as opposed to paper assets.
- Silver IRA – similar to a gold IRA account, a silver IRA possesses all the same qualities except you open it to purchase silver as your main investing vehicle, although you can purchase other precious metals as well. Silver actually grows in value quicker than gold from a percentage standpoint, which makes it very attractive to retirement investors looking to grow their nest egg.
- 401(k) Rollover – Goldco makes it possible for customers to initiate a 401(k) rollover into their Roth or traditional IRA. Customers might decide to rollover their 401(k) account assets into an account that gives them greater control over the assets that they can purchase when comparing it to a 401(k). This makes it possible to invest in other areas including precious metals, bonds, stocks, ETFs, and other opportunities.
Additionally, besides gold and silver IRAs, you can also access investing options like SEP IRAs and Simple IRAs from Goldco.
- Simple IRA – this plan is short for Savings Incentive Match PLan for Employees, which gives employers the opportunity to create a traditional IRA that employees can contribute to. It’s a good option for small business owners just starting their retirement savings plan without a 401(k) or another sponsored plan.
- SEP IRA – this plan is called a Simplified Employee Pension and it’s a specific kind of plan offered to business owners from financial institutions to give their employees and themselves benefits for retirement.
Goldco is also in the cryptocurrency IRA business through their sister company.
Consensus Reviews of Goldco
This company has produced thousands of satisfied customers throughout their decade of experience in the industry. Based on customer reviews shared on their website, the good people at Goldco provide phenomenal service and really pay close attention to the needs of their customers. Several of the reviews talk about how succinctly they meet customer needs. Moreover, they have a chat feature on their website that allows customers to ask questions directly to one of their representatives.
On the Better Business Bureau website, the company has an A+ rating, which is their highest rating and they are also accredited for over 10 years. On the Business Consumer Alliance website, they have a perfect AAA rating and they’ve received many positive reviews about their strong ethic, ethical business practices, dependability, and excellent services.
- BBB – A+ rating based on more than 250 customer reviews
- BCA – AAA rating based on 1 customer review
- Google My Business – 4.3 out of 5 stars based on more than 300 customer reviews
- TrustLink – 4.8 out of 5 stars based on more than 250 customer reviews
Precious Metals IRA from Goldco
The process to open and fund a precious metals IRA with Goldco is very simple. The breakdown is as follows:
- Customers will get in touch with a Goldco representative. The representative will complete all of the necessary documents and set up the online account. From here, the rep will initiate a rollover or transfer with the existing 401(k) or IRA custodian. Or, the new account holder can fund the account with the amount based on the current annual IRA limits.
- Customers must fill out a minimal amount of paperwork, which Goldco will take over from there.
- Goldco opens the self-directed gold IRA, processes the required documents for funds transfers from one retirement account to the new precious metals IRA, and avoids early penalties and taxes in the process.
- After the account is open, your Goldco rep will make valuable recommendations and provide guidance to help you choose the best investments.
- The entire process takes 2-3 weeks from beginning to end.
- After you pick your precious metals, your Goldco representative will purchase them on your behalf and deliver them to the depository of your choice – Brinks, Delaware Depository, or International Depository Services.
Goldco Fee Structure
- Goldco is willing to waive their first-year fees if you make a minimum deposit of $50,000 or more
- Qualified accounts with a $50,000 order or more receive a 5% back in free precious metals
- Goldco charges a one time IRA account setup fee for $50
- Annual account maintenance fee is $80 per year
- Annual account storage fees range from $100-$150 per year depending on your chosen depository and whether or not you went with segregated or commingled storage
- Shipping fees vary, free shipping is possible in some cases
- Minimum $50,000 IRA purchase
- Minimum $25,000 non-IRA purchase
Q & A
Can you purchase non-IRA precious metals from Goldco?
Absolutely! They make it very easy for customers to buy precious metals in a non-precious metals IRA capacity, which they will ship to your home or office or anywhere you desire.
How do I initiate a 401(k) or IRA rollover with Goldco?
Simply open a brand-new account with Goldco and your custodian will take care of the rest. They will help you from beginning to and to fund your account with a 401(k) rollover without having to worry about paying additional money in fees or early taxes. After they complete the transfer, your rep will even help you choose the best precious metals to meet your financial objectives.
What kind of silver and gold can I purchase from Goldco?
They offer a wide range of different silver and gold assets including gold bars, silver bars, gold coins, silver coins, and bullion bars and coins as well. They also offer rare and premium options that are non-IRA approved.
How long will it take to open a precious metals IRA with Goldco?
The account creation process is relatively swift. It will take roughly 2-3 weeks to complete the entire process.
Who can open a gold IRA?
All United States citizens below 70 ½ years old who have earned income.
Will I have to pay penalties during a 401(k) rollover or transfer?
Absolutely not! This is a common tax-free process that doesn’t require any additional fees or penalties being paid unless you fail to deposit the money in the new account within 60 days.
Which precious metals products are allowed in a gold IRA account?
Gold and silver are the two most popular precious metals typically bought for IRA accounts. Nonetheless, platinum and palladium are also acceptable. All of these investments must meet strict IRS purity requirements to qualify.
Are account holders allowed to physically take possession of their precious metals?
Yes, they are allowed to take possession of their physical precious metals as part of a distribution as long as they reach 59 ½ years old. Remember, at this stage you will have to pay taxes on your investment, so make sure you have enough money available or sell some of their assets to cover the tax expenses.
Will my precious metals remain safe and protected in a gold IRA?
With 100% certainty. You will pay between $100-$150 per year to keep your precious metals in an approved depository. The top approved depositories are Delaware Depository, Brink’s Global Services, and International Depository Services.
Does Goldco repurchase precious metals from their customers?
Yes, Goldco is very happy to rebuy precious metals from their customers. In fact, they highly recommend contacting them first if you intend to liquidate your assets. More than likely, they will provide their customers with a better deal than a different broker or random coin dealer.
Would you like $10,000 of free silver?
Believe it or not, you can get access to $10,000 worth of free silver if you sign up to receive Goldco’s free guide and then become a first-time buyer. After reading through their free guide, you’ll get in touch with a Goldco specialist that will walk you through the account creation and funding process from beginning to end. They’ll also tell you how you’ll qualify for $10,000 worth of free silver.