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Goldco is a precious metals investment company that specializes in helping individuals and families protect their retirement savings with gold, silver, platinum, and other precious metals.
With over a decade of experience in the industry, Goldco has become a trusted leader in the precious metals IRA industry, offering a wide range of products and services designed to help customers achieve their financial goals.
For those who are looking to diversify their investment portfolio, protect their wealth against inflation and economic uncertainty, or preserve their retirement savings, Goldco could be a viable option to consider.
Below, they will find all the information they need to know about this company to help them decide whether to choose this option or continue searching.
Before we get started:
Inflation and rising interest rates has destroyed many people's savings. Many investors feel defeated and helpless, but you can fight back.
Gold and other precious metals have been used to protect against inflation for thousands of years. And when you hold physical in a tax-protected savings account, it gets even better.
Opening a gold IRA can sound complicated, but it's really not.
That is why we created a list of our most trustworthy investment companies, to make comparing and choosing the company best suited to your needs as easy as possible.
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Table Of Contents
Goldco - General Information
Goldco is a precious metals investment company that was founded in 2006 under the name Gerson Financial Group, and it focused on B2B sales. In 2011, Trevor Gerszt bought Goldco.
The company is headquartered in Calabasas, California, and has quickly become one of the leading providers of precious metals IRAs in the United States. Goldco is dedicated to helping individuals and families protect their retirement savings with gold, silver, platinum, and other precious metals.
The company's main focus is on offering a wide range of investment options for those looking to diversify their portfolios with precious metals. Some of the products and services that Goldco offers include gold and silver bullion coins and bars, precious metals, IRAs, and numismatic coins.
Goldco also offers a team of experienced precious metals specialists who can provide personalized guidance and support to customers, helping them make informed decisions about their investments.
One of the main advantages of working with Goldco is the company's expertise in the precious metals IRA industry. The company's specialists have extensive knowledge of the tax laws and regulations governing precious metals investments.
As a result, they can help customers navigate the complexities of setting up and managing a precious metals IRA. Goldco also has a strong reputation for excellent customer service and has received high ratings from customer review websites such as Trustpilot and Consumer Affairs.
Goldco is a trusted and reliable provider of precious metals investment options for those looking to protect their retirement savings. The company's focus on personalized service and expert guidance make it an excellent choice for individuals and families seeking to diversify their investment portfolios with precious metals.
Goldco IRA Services
Individuals who want to diversify their investment portfolio by investing some of their retirement funds into precious metals can consider opening a gold or silver IRA through Goldco. To begin the process, they will need to fill out an application and open an account before transferring their funds and purchasing their chosen metals.
After that, they will need to select a custodian who will be responsible for storing the metals in their preferred depository for safekeeping.
Goldco's services are designed to make the process of opening a gold or silver IRA account user-friendly and fast, and they charge a flat $50.00 setup fee. The company has a team of experts available to assist customers with the necessary paperwork and handle all communication with the selected depository and custodian.
This streamlined approach eliminates the need for customers to coordinate with multiple parties and makes it easier to complete the transfer without encountering any setbacks.
After the account is set up, and funded, and the custodian and depository are chosen, Goldco assigns an experienced representative to help customers decide which products are suitable for their needs.
The representative will explain the IRS regulations on the type and purity of metal and suggest the available products that meet these criteria. The one-on-one approach allows the representative to understand the customer's situation and goals, enabling them to recommend the most suitable options that align with their objectives.
Goldco offers a variety of silver and gold products that customers can purchase, and a company representative will provide a price quote once the customer has made their selection. After the purchase is finalized, Goldco will ship the package to the customer's chosen depository, where their custodian will take over and handle the metals.
Depositories Goldco Partners With
Goldco partners with top-rated depositories to provide customers with secure storage options for their precious metals investments. The company's depository partners offer state-of-the-art security measures, including 24/7 monitoring and insurance coverage to protect customers' investments.
The depository partners are located in strategic locations throughout the United States, including Delaware, Texas, and Utah. These locations have been carefully chosen for their security and accessibility, making it easy for customers to access their precious metals investments when needed.
One of Goldco's depository partners is Brink's Global Services, a global leader in secure logistics and precious metals storage. Brinks operates high-security facilities in multiple countries, and its depository facilities are equipped with state-of-the-art technology and security measures to ensure the safety of customers' investments.
Another one of Goldco's depository partners is the Delaware Depository, a subsidiary of the global logistics company Dillon Gage. The Delaware Depository operates a state-of-the-art precious metals storage facility in Wilmington, Delaware, and it is one of the largest precious metals depositories in the world.
Custodians Goldco Partners With
Goldco works with several custodians to help customers set up and manage their precious metals IRAs. Custodians play an important role in the IRA process by holding the IRA assets and ensuring compliance with IRS regulations. A few options include:
Equity Trust Company: Equity Trust is a leading custodian of self-directed IRAs, including precious metals IRAs. The company offers a range of IRA services, including traditional, Roth, SEP, and Simple IRAs, as well as self-directed IRAs.
Kingdom Trust: Kingdom Trust is a regulated custodian that offers a range of IRA services, including traditional, Roth, SEP, and Simple IRAs, as well as self-directed IRAs. The company has a strong reputation for security and compliance.
New Direction IRA: New Direction IRA is a full-service custodian that specializes in self-directed IRAs. The company offers a range of IRA services, including traditional, Roth, SEP, and Simple IRAs, as well as self-directed IRAs.
STRATA Trust Company: STRATA Trust is a regulated custodian that offers a range of IRA services, including traditional, Roth, SEP, and Simple IRAs, as well as self-directed IRAs. The company has a strong focus on technology and customer service.
Goldco offers special benefits for new customers who meet certain criteria when they open an IRA account with the company. For instance, customers who invest $50,000 into their gold or silver IRA can have the fees for the first year waived, which adds up to over $300 when considering the set-up, custodian, and storage fees.
In addition, customers who purchase more than $50,000 worth of metals for their gold or silver IRA with Goldco can receive free silver valued up to 5% of their total purchase price. It is recommended that customers inquire about any special offers when speaking to their Goldco representative to confirm eligibility and ensure the offer is still valid.
Goldco offers the option to purchase silver and gold for personal investment portfolios directly from the company, without opening an IRA or adhering to the IRS guidelines for an IRA. customers who choose this option can open a depository account to store their non-IRA purchases.
Alternatively, Goldco can ship the purchased items directly to the customer's home, provided they have someone available to sign and receive the package. Every shipment is 100% insured for the customer's protection.
Fees and Pricing
Goldco offers a range of products and services, each with its own set of fees and pricing. The fees and pricing are competitive with industry standards, and the company is transparent about its fees.
customers can expect to pay fees for IRA maintenance and administration, as well as for the storage of precious metals. However, Goldco strives to keep these fees as low as possible while still providing high-quality products and services.
Other fees and pricing to keep in mind when working with Goldco include but are not limited to:
Account Funding Fees: Goldco does not charge fees for account funding, but some banks and financial institutions may charge fees for wire transfers or other methods of funding an account.
IRA Fees: The company charges an annual fee for IRA maintenance and administration. The exact fee depends on the type of IRA and the custodian being used. Fees typically range from $80 to $195 per year.
IRA Setup Fees: Goldco may charge a one-time setup fee for IRA accounts, which can range from $50 to $100 depending on the type of IRA.
Precious Metals Purchases: The cost of precious metals' price varies depending on market conditions and the products being purchased. Goldco offers competitive pricing for gold, silver, platinum, and palladium coins and bars. In addition, the company works with various reputable precious metals dealers to ensure customers can access the best products at competitive prices.
Precious Metals Storage Fees: Goldco's depository partners charge fees for the storage of precious metals, which can range from $100 to $250 per year, depending on the amount and type of precious metals being stored.
One huge issue people run into when they invest in precious metals is the ability to liquidate if necessary. After all, it’s not possible to pay for services or items using pure gold. So, if someone needs cash, they’ll have to sell the precious metals to get it. This can lead to another problem if they can’t find an entity to offer them a fair price, and they may end up selling at a loss.
However, this is where the buyback program from Goldco comes into play. Like many companies in the precious metals industry, Goldco will happily buy back gold and silver when a customer wants to liquidate for cash. Also, the company promises to offer a fair and fast price quote, and they’ll base this quote on the current prices of the metals.
It is important to note that, like any precious metal, the price of gold and silver may fluctuate between the buying and selling points. However, reviews indicate that past customers have successfully used Goldco's buyback program to generate a solid profit.
As long as the price of the precious metals increases during the holding period, there is a high likelihood of being able to sell them back at a profit. customers who prefer to sell directly to another buyer can opt to have Goldco ship the metals to their home, although it is worth keeping in mind that the company typically offers some of the most reasonable prices on the market.
If a customer decides to sell their gold or silver back to Goldco, they must contact the company and speak to their representative. The representative will review the customer's account and provide a price quote for any metals they wish to sell.
If they agree to the sale, the representative will initiate the trade by contacting the custodian. Once the trade is underway, the custodian will release the precious metals and send them to Goldco.
The package will arrive and go through a processing center. Once it clears, Goldco will submit the payment, generally using a bank wire transfer. This company makes a point to try and make the entire buyback process as quick and simple as possible so the customer can get their money relatively quickly.
Is Goldco a Scam?
Goldco isn’t a scam and has a strong reputation for customer service, transparency, and reliability. In addition, the company has received high ratings and reviews from reputable sources, indicating that it is a trusted provider of precious metals investments and IRA services.
Below, we compiled a few reviews and ratings from various sources:
Better Business Bureau (BBB): Goldco has an A+ rating from the BBB, which is the highest possible rating. The BBB has accredited the company since 2011 and has a 4.83 out of 5-star rating based on customer reviews.
Business Consumer Alliance (BCA): Goldco has an AAA rating from the BCA, which is the highest possible rating. Since 2011, BCA has accredited Goldco.
Consumer Affairs: Goldco has a 4.8 out of 5-star rating on Consumer Affairs, based on over 350 reviews, and it's been accredited since 2016.
Trustpilot: Goldco has a 4.8 out of 5-star rating on Trustpilot, with over 1,000 reviews. The company has a TrustScore of 4.8 out of 5, which is considered "Excellent."
Goldco Benefits and Drawbacks
Goldco offers a range of benefits for individuals and families seeking to protect their retirement savings with gold and other precious metals. However, like any investment opportunity, there are also some potential drawbacks to consider. A few positives and negatives to keep in mind below.
Goldco is a reputable provider of precious metals investments and IRA services. With a focus on personalized guidance, competitive pricing, and secure storage options, Goldco is a trusted leader in the precious metals IRA industry.
The company's wide range of IRA options, including traditional, Roth, SEP, Simple, and self-directed IRAs, allows customers to choose the right investment strategy for their individual needs.
The company’s partnerships with top-rated depositories and custodians ensure customers' precious metals investments are secure and compliant with IRS regulations.
In addition, the company's team of precious metals specialists provides personalized guidance and support to customers, helping them make informed decisions about their investments.
While investing in precious metals carries market risk and may be subject to fees and limitations, Goldco offers a range of benefits for investors seeking to protect their retirement savings with gold and other precious metals. These benefits include tax advantages, diversification, and the potential for long-term investment returns.
Goldco is a reliable and trustworthy provider of precious metals investments and IRA services, with a strong reputation for customer service, transparency, and reliability.
Remember to read our list of the Best Gold Investment Companies to work with, before investing your hard-earned savings!
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Hi, I'm Charles Turner, founder of Turner Investments. I created Turner Investments to provide education and guidance to individuals interested in personal finance.
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