IMPORTANT: This Goldco - Gold IRA Review is only applicable to residents of the United States of America. Non-residents of the USA are ineligible to participate in Goldco IRA's and cash products.
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Goldco - Gold IRA Review Summary
Prior to 2021, Goldco had similar offerings as Augusta Precious Metals, in that they only offered gold and silver precious metals products, and stayed away from alternatives like platinum and palladium. Since mid 2021 they have increased their offering to include these additional products. If your focus is only gold and silver then maybe Birch Gold might be worth investigating instead.
In addition to the products themselves, Goldco's educational material is superb and there is plenty of material to help potential investors learn the gold and 401k rollover market before making any decisions. Their staff are professional, courteous and the purchasing process is completely transparent. You will feel comfortable doing business with this company.
Goldco IRA Pros & Cons
Goldco Company Overview
Goldco was founded in 2006 by Trevor Grezst who's goal is to provide sound financial help for those setting up for successful retirement. The company is located in Calabasas, California. Originally only dealing in gold and silver IRA's and cash purchases they have now added platinum and palladium into the investment mix. They have extensive experience in collectible coins with a good selection that can be added to their IRA products. Goldco can rollover your 401(K), 403(B) holdings, 457 Deferred Compensation Plans and many other eligible retirement products into a Gold IRA.
The group has an A+ rating on the Better Business Bureau and a AAA rating on the Business Consumer Alliance, plus 253 reviews on TrustLink and 574 reviews on TrustPilot. They're someone you can do business with.
Why Invest In Precious Metals With Goldco
Right now, the world and financial markets in general fluctuate between stability and chaos. You never know from one day to the next just what's in store. So from a financial perspective, you need to be thinking about protection.
That is, protection of your asset base, protection of your portfolio as a whole and most importantly, protection of your family. If all your investments are tied up in one asset class, such as stocks, bonds or even real estate, then you leave yourself vulnerable to events like the global financial crisis or international conflict through war.
If the stockmarket falls, so does your potential retirement fund. So with that in mind, diversifying your porfolio into physical assets like gold, silver and other precious metals simply makes sense. It acts as a hedge to inflation, as a protection to financial instability and in real terms it represents "real money".
But like all investments, you need to be smart about it and get the right information from people who work in that asset class day in and day out. That's where Goldco comes in. As professionals, they will take the time to discuss your individual situation, and once you decide your investment mix, they will facilitate that for you to help you diversify your assets, and above all, keep you safe.
Goldco IRA Offering
Goldco offers a number of products ranging from gold IRA's, silver IRA's, collectible coins and precious metals cash purchases. The services provided include but are not limited to:
MINIMUM INVESTMENT AMOUNT AND FEES
The required minimum purchase at Goldco to start a gold IRA is $25,000. Goldco’s preferred Custodian charges a flat annual account service fee which includes a one-time IRA account set-up fee of $50, as well as a $30 wire fee. Annual maintenance is $100, and storage is $150 for segregated storage or $100 for non-segregated storage.
Fees for gold storage and custodianship can vary depending on the company you select to handle these services (required by the IRS, as all IRA assets must be managed by a custodian). Depending on the Custodian, storage fees can range from $10 to $60 per month, or as a percentage of assets, from 0.35% to 1% annually. Goldco does not charge any storage fees for cash transactions over $25,000.
Goldco uses Equity Institutional and Self Directed IRA as the custodians of choice.
Check the dates but Goldco currently offer $10,000 free silver with each qualifying Gold IRA.
While specific storage organisations are not listed, they do say that the precious metals within the IRA's are stored at IRS approved depositories.
Goldco offers a buyback program designed to get you the highest price.
Precious Metals IRA Options
During the set up an account with Goldco (which is a simple 3 step process), your account specialist will help you choose how to fund the account and then help you determine how you want to continue investing over time. Initially it might be done through an IRA Rollover or via direct gold and silver purchases.
Not all accounts are eligible for an IRA rollover so this is something you'll have to directly discuss with Goldco. If you are eligible however, a rollover is a great way to hold precious metals in your retirement account instead of stocks and bonds.
You benefit from the same tax benefits and you can continue to make contributions to the account. These contributions will vary depending on your account type, your age and any other limits based on your individual circumstances. If you have any questions at all about rollovers simply talk to your Goldco representative.
Gold and Silver Bars and Coins
You can buy both bars and coins to add to your IRA account and there are plenty of options to choose from. The only limitations are the ones the IRS has in place to protect you from holding inferior products (which is a good thing). Gold coins or bars must have a purity level of at least 99.5% and silver coins and bars must have a purity level of at least 99.9%.
This means you get the choice of the best quality products. Some of the available options are included below. A full list is available on the gold and silver pages on the Goldco website:
Gold IRA Coins
Silver IRA Coins
Goldco Values & Standards
This is an area where Goldco excels. Their educational material is easy to understand and is progressive, so that each new video or book you read builds on the level of knowledge from the previous one. This is very helpful to IRA investors, especially new ones, as rolling over a retirement account can seem very daunting to the uninitiated.
Goldco matches you with a specialist in the investment area you desire. These account executives take the time to walk you through the entire process and help you to choose the right products for your circumstances. They are then on call for further questions and updates on your account.
Because the precious metals environment can often be a mystery to investors, it's critical that the process of moving existing investments into an IRA, or buying new investments with cash or within an IRA, is completely transparent.
Without this level of transparency with the products and the process, customer satisfaction can not be assured. Goldco goes out of its way to make sure everything is transparent and that customers are 100% clear on the nature and type of their investments.
Goldco - Gold IRA Review Conclusion:
Goldco have a strong customer satisfaction rating across many review services and have only had 5 registered complaints in 3 years according to the BBB. Their product range is exceptional, especially in their collectible coins and their staff are friendly and helpful.
Their website could contain more information on fees and minimum investments but this information can easily be obtained from one of their specialists during your initial call with them.
Learn More About Goldco IRA's
Goldco IRA FAQ
Only certain coins are IRS approved for inclusion in Gold and Precious Metals IRAs. The IRS outlines acceptable forms of precious metals for IRAs including bars and coin types. Goldco reps can help you select appropriately.
Yes. Goldco recommends either Self Directed IRA or Equity Institutional as potential custodian options and Sterling Trust for storage. You can choose either of these or go with your own companies if desired.
No. Your best option for safe storage is to use a bank's safety deposit box or preferably an IRA approved depository service, which is more secure. When investing in Gold IRA's, you cannot store the products in anything but a secure approved premises. So you can't store them at home like you would your own non-IRA products. Even those should be in safe storage outside your home.
Usually about two weeks although everything is done on a case-by-case basis so your own circumstances or product choices may entail a longer timeframe.
You can start taking penalty-free distributions from your account from age 59 and a half. IRS states that this can be iether you or the beneficiary of your Precious Metals IRA.
Absolutely. Goldco Gold IRA investment managers will work with you to find the best combination between yourself and them regarding communication and personal preferences.
Gold and other precious metal IRAs are an investment and carry risk. Consumers should be alert to claims that customers can make a lot of money in these or any investment with little risk. As with any investment, you can lose money and past performance is not a guarantee of future performance results. Consumers should also obtain a clear understanding of the fees associated with any investment before agreeing to invest. See more Gold And Precious Metals IRA's here.
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