If you are looking for a gold IRA company, you have plenty of choices. However, not all of these companies are created equally!
One of these companies that you might come across is Goldco. Goldco is a gold IRA company that also allows you to buy gold and silver.
In the precious metals industry, there are a lot of companies that are simply out to get profits, and they don’t care much about satisfied customers as long as they are getting some money out of it. Is Goldco one of these companies, or do we recommend Goldco as one of the best gold IRA companies out there? Keep reading to find out!
About Goldco (Detailed Review)
Goldco is a precious metals IRA company based in Woodland Hills, CA, which is in the Los Angeles area. Founded in 2006 by Trevor Gerszt, Goldco was named one of Inc. 5000’s Fastest Growing Private Companies for seven consecutive years.
One thing that really stands out about Goldco is the outstanding customer service it offers, based on customer feedback. The investor’s designated account executive helps with investment goals and stays with that investor throughout the entire process of creating a gold IRA or investing in precious metals.
An account rep will also help investors convert their current 401k, 403(b), or other retirement accounts into precious metals IRAs. The whole process can be confusing, especially when IRS regulations and quality standards are considered, but the Goldco team works with the investor the entire time, and they make the process easy.
As with most gold IRA companies, Goldco worked with several self-directed IRA custodians, but they prefer Self-Directed IRA Services Inc. and Equity Institutional. These two custodians are well known for their trustworthy services. However, if you have a different custodian in mind, or a different storage facility, for that matter, it’s no issue with Goldco.
Since Goldco offers both gold IRAs and the option to make direct purchases of precious metals for personal investment, you have different storage options.
If you purchase metals for an IRA, you have to store them at an IRS-approved depository. However, if you purchase metals for investment, you can keep them in your home or in a bank safety deposit box or vault.
The Reputation of Goldco for a Precious Metals IRA
Goldco has a reputation for being one of the highest-rated gold IRA companies in the industry. The company is accredited by a number of independent market review sites, including Consumer Affairs, the Business Consumer Alliance, Trust Link, and Trustpilot.
If you take a look at Goldco’s record and ratings on these sites, you will see that the ratings are amazing, and reviewers often mention the excellent service and wonderful experience they have experienced when working with Goldco.
Goldco really began to make waves in 2015. Inc. 500, as mentioned above, named Goldco as the number one gold IRA provider in the country. At the time, Ron Paul, who was a former presidential candidate, endorsed the company, and from there, Goldco has one various awards and designations.
We like to think about Goldco’s reputation in this way; the company has been in business for more than a decade, and there are very few negative customer reviews and complaints. If the company was doing something nefarious, we would certainly know about it. Every time we have worked with Golco, we have had a great experience.
There are a few negative reviews, of course, as with any gold IRA company, but almost all of them are from people who didn’t do their research and don’t understand how a gold IRA works. We also found reports of people being upset that Goldco doesn’t sell precious metals at spot price. However, every company we have ever worked with always adds a premium over spot price when selling precious metals. This is how they make their money!
We recommend Goldco, and we do this with the confidence knowing that we are not alone in saying this is a great company, and potential customers should certainly take a look.
Goldco Ratings on Consumer Review Sites
As mentioned, Goldco has high ratings on all of the major review sites, including the following:
Better Business Bureau
The Better Business Bureau has given Goldco an A+ rating. It is accredited, as well. When we look at reviews from the BBB, there are more than 1200 customer reviews with a 4.83/5 star rating.
Business Consumer Alliance
The Business Consumer Alliance, BCA, has rated Goldco with an AAA rating.
TrustLink
TrustLink has rated Goldco with 4.8/5 stars, and there are more than 250 reviews.
Trustpilot
Trustpilot has reviews for Goldco, too, and there are more than 1,600 reviews. Overall, reviewers have given Goldco 4.8/5 stars.
Goldco Products and Services
For over a decade, Goldco has offered precious metals in the form of coins and bullion. For precious metals to qualify for a gold IRA, they must adhere to specific IRS regulations. Gold must be a minimum of .995 pure, and silver must be .999 pure.
There are a couple of exceptions, but if you work with Goldco, they will explain what the exceptions are and why you might want to include those in your IRA. It doesn’t matter if you want to buy a single coin or invest thousands of dollars in a gold IRA, Goldco account specialists will help along the way.
At Goldco, you can choose a gold IRA or a silver IRA, and you can buy gold and silver coins. These are the most popular types of precious metals to add to an IRA because they are commonly seen as a hedge against inflation and fluctuating market conditions. Goldco has many of the most popular coins, including American Eagle coins and Canadian Maple Leaf coins. It also offers gold and silver bars.
As mentioned, if you buy gold or silver from Goldco, you can store it in your home or in a bank. If the precious metals are meant for a self-directed IRA, they will ship the metals to an IRS-approved depository, where you can choose from commingled or segregated storage.
Other services that are available from Goldco include:
401(k) Rollovers
Goldco helps their customers transfer/rollover 401(k)s to gold IRAs from explaining every step to filling out the necessary forms. The time it takes for the rollover/transfer to complete varies, but typically, it’s around two weeks. Once the funds are settled into the IRA account, you can start choosing the metals to add to the IRA. Goldco will help here, too, and make suggestions based on your financial goals, but ultimately, the decision is up to you.
SEP IRAs – Simplified Employee Pension IRAs
With these accounts, an employer offers retirement benefits to employees and themselves. There are basic eligibility requirements, such as age, working time, compensation, and minimum salary. You will get the necessary information you need, as well as the rules of SEP IRAs.
SIMPLE IRAs
Savings Incentive Match Plan for Employees, or a SIMPLE IRA, is a type of IRA that offers customers a tax advantage when they follow the IRS requirements. Goldco can help you set up this type of gold IRA account and explain how it works to get the most out of your investment.
Traditional IRA and Roth IRA planning
Of course, you can also get a traditional gold IRA and a Roth gold IRA. For a traditional IRA, the contributions you make are tax-deferred. You will be taxed when you make withdrawals. A Roth IRA is a type of IRA where you are taxed when you contribute to the account, which makes withdrawals tax-free.
Goldco Fees
There are some fees associated with all gold IRAs, and with Goldco, there is no exception. There is a one-time $50 setup fee, and the company recommends a minimum investment of $25,000, but you can go lower with a $10,000 minimum. If you want to invest in precious metals without setting up an IRA, the minimum is $1,500.
There are also fees associated with storing your precious metals, custodian fees, setup fees, and shipping fees. The amount you pay for storage will depend on if you choose commingled storage or segregated storage.
Goldco doesn’t list a lot of the fees online, so you will have to call to speak with someone from the company. Keep in mind that they are very transparent about the fees, so you will know exactly what you are going to pay for your IRA or investments.
For those who invest more than $25,000, Goldco commonly offers promotions like $0 storage fees for the first year.
There also might be administrative fees, which are set at $175 if the investment is at least $25,000, and if the investment is $100,000 or over, there is a $225 annual administration fee.
Buyback Program information
If your circumstances change, Goldco offers a buy-back program. You won’t have to worry about finding a precious metals buyer for your metals. Instead, Goldco offers a buy back program guaranteed to purchase your metals at the highest price possible. Keep in mind that you can’t withdraw from an IRA early, or there will be heavy penalties involved.
Customer Support
Goldco has a very friendly and intelligent customer service team to help customers along the way when opening a precious metals IRA. If you have questions or need help, you can simply call or email the customer service team. There is also an online live chat feature. If that person cannot help, or they need to transfer you, you will be sent to a different person who can help answer your questions and help you gain more confidence.
Also, it’s worth mentioning that there is a very detailed FAQ section on the Goldco website, which has the answers to many of the most common questions about investing in precious metals.
Step-by-Step – Creating a Goldco Account
If you are seriously considering Goldco at this point, you should know that the company will help you build up a precious metals portfolio, and they will make suggestions to help you reach your financial goals. If it’s time to set up your account, it couldn’t be easier with Goldco.
You start the process by filling out an online application on the Goldco website, and one of the customer service agents will get in touch quickly to walk you through the process and answer any questions you might have.
You can also contact the company yourself and work with them to complete the full IRA set up for you. In addition to helping you set up a self-directed IRA account, they will give you information about which metals might be best for you. Once you talk to the customer service rep, you will have much more information about how everything works, and you can make a confident and informed decision about which metals you want to add to your account.
When creating the IRA account, Goldco’s staff will need you to send paperwork to them with information such as your Social Security Number. They will also help you choose from different custodians and storage options.
Goldco’s Celebrity Endorsements
Many gold IRA companies have celebrity endorsements, and Goldco is no exception. Having an influential figure promote a brand is a wonderful boost for businesses, and in this industry, endorsements are literally like gold.
Goldco is one of the most well-respected precious metals IRA companies, and there are many notable figures who have endorsed the company. Here are only a few of the many endorsements:
Ron Paul – Ron Paul is a former U.S. Presidential nominee and a former U.S. Congressmen. He has endorsed Goldco publicly, and as a known proponent for a gold standard financial system, this is important. He has a good insight into economics, too, which makes his endorsement stand out.
Chuck Norris – Most people know Chuck Norris. He gained fame as a martial artist, and now he’s a well-known cultural icon. Norris is also a big fan of Goldco, and he has given the company his personal seal of approval and endorsement. Having Chuck Norris as a person who endorses your product is a very big deal because he has helped to make the brand more visible thanks to his personal fame.
Sean Hannity – Best known for his television hosting abilities, Sean Hannity is also a well-known endorser of Goldco. Sean Hannity is a conservative political commentator, and he has a large following. An endorsement from Sean Hannity shows that Goldco is a trustworthy company and a good choice for those who are interested in buying gold and making investments into precious metals.
Ben Stein – Ben Stein is an economist, lawyer, actor, and podcast creator. Based on his expertise in economics, people trust what Ben Stein says about investments, including in gold and silver investments.
Industry Reviews and Endorsements – We have already shared that Goldco has earned top ratings on major industry review sites, including the Better Business Bureau, which has given the company an A+ rating. Goldco has an AAA rating with the Business Consumer Alliance, and TrustLink also rates the company very highly. All of these sites also feature reviews from real customers, which also lends to the amazing reputation of Goldco.
All of these endorsements and reviews from celebrities and “real people,” alike further show that Goldco is dedicated to top-quality service. It also shows that the company is serious about continuing to be an industry leader in the gold IRA and precious metals industry.
Keep in mind, however, that as good as these endorsements and reviews are, you should always do individual research to ensure that Goldco is right for you.
What Makes Goldco Different from Other Gold IRA Companies
Goldco has worked hard to stand out from the crowd. The gold and silver IRA industry is very crowded and competitive, and there are many choices for investors to choose from. However, many of these companies simply don’t make the grade. Instead, they do things like overcharge investors for metals, add hidden fees, and keep information from potential customers.
Goldco, however, is much different, and here are a few reasons why:
Strong Reputation and Highly Trustworthy – Goldco has made a name for itself in the industry thanks to amazing ratings from the BBB, BAC, and TrustLink. The customer satisfaction seen in these reviews is evident on all of these sites.
Education First – Goldco is well known for its focus on customer education, and it offers its customers a full range of educational resources including eBooks, webinars, video guides, news, and other information for free on the website. This is information that can help potential investors learn more about the gold IRA industry and gives them more confidence to invest. This is just one more reason people know Goldco – its exceptional customer service
Many Service Offerings – Another thing that really stands out about Goldco is the companies innovative ways of helping people invest in precious metals. They help customers every step of the way, explain everything, and even when working with customers rolling over an IRA from an existing retirement account to a new gold or silver IRA, the Goldco team makes it extremely easy. They also explain things like tax implications and secure storage solutions, which makes them a stand out team amongst the rest.
Affordability – Many gold IRA companies require tens of thousands of dollars before a customer can open an IRA. Goldco does not. It also offers it’s gold and silver products at competitive prices, which makes it easy for anyone, regardless of experience, to invest in precious metals. It’s also very common for Goldco to offer promotions to customers, which oftentimes make products and services even more affordable.
A Focus on Retirement Protection – Goldco also stands apart from its competitors thanks to its focus on helping customers protect their retirement savings accounts with precious metals IRAs. This gives customers the option of investing into assets like gold and silver, which helps to protect them from inflation, economic downturns, volatility and fluctuations.
Ethics in Business – Goldco stands firm on operating with both honesty and integrity. This means that you will never see any hidden fees, you will alway deal with gold that was sourced ethically, and you never have to worry that the company doesn’t always have your financial well-being in mind.
It is not secret that Goldco has an impressive track record, and with so many services available, we always recommend Goldco as one of the most trusted and ethical companies in the industry. With a focus on education, customer service, and of course, trust, you won’t go wrong with Goldco.
Do We Recommend Goldco?
Yes, we recommend Goldco. The company is a trustworthy precious metals dealer, and it’s highly recognized for its products including precious metals and gold and silver IRAs. Though the company doesn’t have as many available retirement assets as other companies, the customer service and value for your money make up for it.
Maintaining its stellar reputation is important to Goldco, and since the company has been working hard for more than a decade, you know they won’t do anything to tarnish that reputation at this point. We honestly believe in what Goldco does, and we trust the company to assist with important financial decisions.
Goldco has partnered with some of the most trustworthy IRA custodians and storage facilities, as well, which makes us trust the company even more. We are happy to recommend Goldco to anyone interested in opening a gold or silver IRA, or for anyone who is interested in investing in gold or other precious metals.