Goldco Review

Item: Goldco Precious Metals
Rating: 4.6
Author: Christopher Horne

Saturday, June 10th 2023

You’re spoiled for choice when it comes to gold IRA companies. But we must say — no two companies are created equal! It is important to take time to do a background check on Goldco and any other company before getting involved with them! Not all have your best interest at heart. Some are created just to generate profits for the owners.

With that being said, if you’re looking for a thorough Goldco review, then you’ve come to the right place. We’ve covered everything you possibly need to know to decide if this company can help you achieve your investment goals and objectives.

About Goldco

Goldco is a precious metals IRA provider located in Woodland Hills, California. The company was founded in 2006 by Trevor Gerszt, a prominent American entrepreneur and businessman.

This firm helps investors add one or several precious assets to new or existing self-directed IRA accounts while adhering to the IRS regulations. Custommers can as well convert their current 401K or other qualified retirement accounts into precious metal IRAs.

Like most Gold IRA companies, Goldco works with self-directed IRA custodians. However, they prioritize Self Directed IRA Services Inc. and Equity Institutional.

These two custodians are among the most preferred among dealers. But you still get to choose a custodian or storage facilities outside Goldco’s recommendations, as long as they meet the IRS guidelines.

The firm can deliver the metals directly to your home. But if they are purchased inside an SDIRA account, then the metals will be held by the IRA approved custodian. You cannot physically hold your purchase.

► Reputation of Goldco

Goldco has established itself as one of the best rated gold IRA companies in the industry. They are accredited by various verified independent market watchdogs, such as Consumer Affairs, TrustPilot, and Trust Link. If you check out the Goldco’s record on these sites, you’ll notice that the company enjoys stellar ratings.

In 2015, Inc. 500 — an American business magazine ranked Goldco as the nation’s number one gold IRA provider. The former presidential candidate Ron Paul also endorsed the firm for diversifying retirement investments.

Having been in the business for over a decade, the company would have fetched several negative reviews and complaints if they were involved in unethical business practices. In fact, they would not have survived this far.

The few negative reviews are probably from people that didn’t understand how the precious metals market works. They probably invested without first seeking professional advice.

Goldco Ratings on Consumer Review Sites

► Goldco Products and Services

There’s a variety of precious metals available in the form of bullion and coins. Besides the popular gold and silver, Goldco provides investors with platinum and palladium to diversify their investment portfolio. To qualify for a self-directed IRA, each precious metal must adhere to the minimum purity standards set by the IRS as follows.

Gold — .995 pure
Silver — .999 pure
Platinum and Palladium — .9995 pure

Please note certain exceptions exist for specific coins. Goldco has specialists that can walk you through the available options and guide you finding the right mix of precious metals.

Other services offered by Goldco to it’s clients:

401(k) Rollover

Goldco can assist you to rollover 401k or any other IRA to a Gold IRA without any fees or penalties. The amount of time taken to complete a roll over application varies, but it’s usually around 2 weeks. And once the funds have been successfully transferred to your Gold IRA account, you can start investing in precious metals.

Simplified Employee Pension IRAs

With this product, employers can offer retirement benefits not only to employees but also themselves. The basic eligibility requirements allowed by IRS usually touch on employee’s age, working duration, and minimum salary earned in the current tax year. You’ll be provided with the necessary information on these, as well as the rules on SEP IRA contribution limits.

SIMPLE IRAs

SIMPLE is an acronym for Savings Incentive Match Plan for Employees. This type of product offers a great tax advantage when you follow the stipulated requirements. Goldco’s Account Executive can help you set up the account and follow all the rules for a better ROI.

Traditional IRA and Roth IRA planning

For traditional IRAs, your contributions are tax-deferred. You’ll be taxed particularly at the end of your investment when making withdrawals. Roth IRAs, on the other hand, are taxed after you make contributions to your IRA account and not at the end of the investment period. It’s possible for clients to convert their traditional IRA to Roth IRA.

► Goldco Fees

Creating an SDIRA account with Goldco will attract a one-time fee of $50. The recommended minimum purchase is $25,000, although purchases of as low as $1,500 can be allowed for non-IRA products or deals.

You’ll also need to factor in the storage, custodian, and shipping fees. The amount you pay will vary. Such information cannot be accessed on the dealer’s official site. You have to inquire about the actual costs directly from a company representative. Goldco will email you a comprehensive list of all the fees charged for you to review before making any investment.

If you’re going to invest $25, 000 or more, then Goldco will reimburse the storage fees for the first year. Well, you won’t receive the refunded money but instead, get a precious metal (silver) of a similar amount.

There are annual administrative costs set at $175 for investments worth at least $25,000. These fees can increase up to $225 if your investments hit $100, 000.

Goldco usually rolls out promotions, which are designed to discount or waive the costs above.

► Buyback program

When the time comes to liquidate your precious metals, Goldco has got you covered. You don’t have to worry about the hassle of finding a buyer for the assets. This dealer will buy back your metals fast. You will be able to resell them at the current spot market price, reducing the risk of missing out on any potential gains.

► Customer support

Goldco has a friendly and knowledgeable customer support team to help you in every step of the way. If you have any questions or need advice, you can contact them using a toll-free telephone number. Also, you can email them or use the live chat feature.

Before you contact Goldco, however, make sure you visit their detailed FAQ section. You will get answers to many common questions often asked by interested investors like you.

► Creating a Goldco Account

If you’re convinced Goldco can help you build a precious metal portfolio and reach your goals, it’s time to set up an account. You can fill out the online application form on their official site and the agents will surely get in touch within a short period.

Alternatively, try speaking to a company representative to complete the registration for you. In addition to helping you create an SDIRA account, they will provide the information and resource needed for you to make an informed decision on the ideal metals to add to your IRA account.

When establishing your account, the company staff will require you to send some paperwork with personal identifiable information like social security number. You will also be assisted to set up an account with one of Goldco’s preferred custodians.

Step 1: Fill out the form

Fill out their form. All you will need to provide is your contact information and a precious metal specialist will contact you shortly and will answer any questions you have about a rollover.

Step 2: Receive a free guide

The Goldco agent who will get in touch with you will send you a free comprehensive guide. You have the choice of getting it either through mail or by e-mail. This guide will let you become well-versed in all the investment options available to you.

Step 3: Open and fund your new account

As soon as you come to a decision, their precious metal specialist will help you fill out the necessary forms to open your account and assist you in transferring a portion of your retirement account into a Self-Directed individual retirement account while ensuring that there are no IRS penalties.

Step 4: Choose your metals

The final step involves choosing the metals you want to purchase which will then be sent to a highly secure storage facility.

The Bottom Line

Goldco is clearly a well trusted precious metal dealer. While the company may not have the largest product range in this niche, it thrives in delivering on its promises. The customers’ reviews say it all.

Maintaining high rankings for all those years they have been in the business is no small feat. As such, they can be trusted to have the experience to guide you through all the important decisions and let you know how certain rules and regulations affect your investments.

Goldco works together with IRA custodians and IRS approved storage facilities, taking away much of the stress associated with moving the physical investment.

We are happy to recommend Goldco to anyone looking to invest in gold and other precious metals.

Frequently Asked Questions about Goldco (FAQ)

Who owns Goldco?

Trevor Gerszt heads Goldco.

Is Goldco legit?

Goldco has been helping a lot of people convert their retirement accounts partially or fully to Gold IRAs for more than two decades now making it one of the oldest firms in this field. They have been able to give their customers great service over this long period of time and are highly rated on various platforms.

Is Goldco a good firm to invest through?

Goldco takes away an important hassle by dealing directly with the company that manages the customer’s existing account. They are well-versed in converting paper-based accounts to precious metals-based accounts in a manner that does not incur taxes or penalties.

Where is Goldco located?

Goldco is headquartered in Los Angeles, California

When was Goldco founded?

Goldco was founded in 2006

What are some of Goldco’s unique features?

Direct dealing with company managing existing account
• Hassle-free conversion of existing account to gold IRA
• One of the most experienced gold and precious metals IRA firms