The Goldco Review is designed to give our readers informed information regarding Goldco Direct, LLC and their business. This is an independent review based on the information obtained from the company and through sources including those found on the internet.
Goldco offers Gold and Silver IRAs for Investors looking to hedge inflation and conserve wealth through the purchase of physical gold and silver metals.
This article has been updated as of March 17, 2024, with current information and details regarding offerings and consumer sentiment.
If you are struggling to understand the current stock market and have a deep worry about your retirement future, then The Plug can help you find the right precious metals company to work with. Diversifying your portfolio to hedge against inflation may be your best option. One of the best ways to hedge inflation is by investing in precious metals like Gold, Silver, Platinum, and Palladium.
The IRS allows investors to buy precious metals through a self-directed IRA. The IRA gives investors the same tax benefits as a Standard IRA or Roth IRA. The benefit to the investor is they have control over their investments. One such control is the ability to buy or sell your precious metals at any time and delay any tax implications till you start your distributions. The IRS has specific guidelines for Gold and Silver to be purchased within your IRA and since we are all not tax advisors and IRS agents, we need to work with the companies providing the most accurate and trustworthy information.
Knowing which companies are the best choice to work with can be difficult. The internet is full of information and can make things more difficult and easier, at the same time. The Plug wants to help you by narrowing down all those options to get you to the best Gold and Silver IRA companies, so you don't need to start from scratch.
In this review, we provide details regarding Goldco, a precious metals dealer specializing in Gold and Silver IRA and IRA Rollovers. We know the information will help you make an informed decision. Keep reading to get information about the company, its offerings, and other details about its customer satisfaction and support.
Goldco Protecting Wealth in 2024
Goldco is a full-service Gold and Silver IRA company. Experts in setting up new Gold IRAs as they have transferred and placed over $1 BILLION investment dollars into physical gold and silver. Investors and money managers recommend them as a TOP choice for precious metals. As a leader in the precious metals industry, Sean Hannity, Chuck Norris, Ben Stein, and Stew Peters have recommended Goldco as their choice for precious metals and gold IRA experts.
Why Choose Goldco For Your Next Precious Metals Purchase?
Trust:
- Rated A+ by the Better Business Bureau
- Triple A Rated by Business Consumer Alliance
- 2022 winner of the Silver Stevie Award by the American Business Awards
- Recognized by Inc. 5000 as one of the Fastest Growing Private Companies in the US
- 4.8 Star Rating by Trustpilot with 1,229 reviews
Mission:
"Our goal is to make it easy to invest in precious metals and will guide you through every step of the process."
"We strive to provide superior customer service based on trust and aim for 100% customer satisfaction."
Buyback Guarantee:
Highest Price Buyback Guarantee. When you purchase with Goldco their knowledge of your coins and bars are unmatched. So when life changes, or your ready to liquidate your assets, Goldco offers the industry leading buyback guarantee.
Experience:
Having helped thousands of investors and moved over $1 Billion dollars into precious metals, Goldco is an industry leader in knowledge and experience.
Whether you're opening a New Gold or Silver IRA or you are buying with cash outside your retirement account, Goldco has the industry knowledge to provide you the data to make informed decisions.
About Goldco
As a new investor or experienced trader, you want to work with the best Gold Dealer who can help you make informed decisions and understand your investment desires. Goldco is one of the finest Gold and Silver IRA companies available. Whether you invest using an IRA Rollover or if you are using your savings to hedge inflation, Goldco is experienced and provides credible information and resources to make informed decisions.
Trust is important to investors looking to diversify and protect their wealth. Using a precious metals company that has a strong history of client satisfaction, a knowledgeable workforce, and industry experience is important to you! Goldco makes investing in precious metals safe, fast, and seamless.
Goldco has been recognized by Inc. 5000 as one of the fastest-growing private companies. But what the reviews say and the ratings are with the Better Business Bureau and Business Consumer Alliance tells you that the company works hard to educate and inform its customers. Businesses with the best ratings tend to make an extra effort in educating their clients. The better informed the investor is the better understanding they will have of the precious metals industry and how owning physical metals influences and affects their portfolio. When you understand the investment then there are fewer complaints.
Goldco Free Silver
Currently, Goldco is offering Free Silver when one opens a NEW IRA Account. There are a few requirements for this offer. Please contact Goldco for current requirements.
When working with a company in the precious metals industry, why not work with one that Guarantees they will offer the highest buyback price when your life changes?
Goldco's Education and IRA Information
To be an informed buyer, you need to educate yourself not only on the company but also need to been informed on the market you're investing in. In the precious metals industry, Goldco offers a News & Articles page that has close to 800 articles on areas including Central Banks, the Economy, Federal Reserve, Investing, Political, Retirement Planning, and more.
You do not need to be an investor with Goldco to get this information. These articles are available to the public on their website.
When you want more information you can sign up for their newsletter or Request a Free Kit.
Check out these articles on the Goldco Website:
- Beginner's Guide to a Gold IRA
- The Process of Buying Gold with IRA Funds
- How Has Gold Fared This Year?
- Precious Metals in a Roth IRA - How It Works
- Do Precious Metals Make Sense for a Self-Directed IRA?
The FREE Information Kit Includes a printed, Audio, and Visual Guide to Protecting Wealth and Retirement Savings.
Goldco's commitment to their clients is to "Help Protect and Secure Your Wealth"!
Goldco IRA and Precious Metals
At Goldco an investor has the option to open a new Gold or Silver IRA or purchase individual Gold Coins and Bars using their retirement savings. The idea behind precious metals investing is that you are preserving your retirement by hedging inflation and exiting some or all of your investment dollars out of a volatile stock, economic, or political market.
Goldco is one of The Plug's 5 Best Gold IRA Companies. Our recommendation comes from an extensive review of the companies, their reviews, and the extent of education and information they provide before making a sale. We want to inform and provide high-quality information and it is important to us that the companies we review and endorse do the same.
Services Offered:
- Buyback guarantee. They Guarantee the highest price for their clients.
- Gold or Silver IRA Rollover
- Convert Existing Retirement Accounts to Gold
- Retirement Account Planning
What is a Precious Metals IRA?
A precious metals IRA is simply a means to own physical gold or silver as an investment inside a retirement account. Owning physical metals is a way to diversify your portfolio with physical investments.
The pros of owning Physical Precious Metals in an IRA:
- Tax Deferment: when you have gains to your investment portfolio you can postpone the payments till you start taking withdrawals.
- Full Control: the IRS will dictate which gold or silver products you can hold in your IRA, but you do have control over the account and can determine which products to purchase and sell.
- Portfolio Diversification: Over time Gold has been a winner for investors. The ability to own precious metals in your IRA allows you to hedge inflation and remove your cash from a volatile stock market. You own an asset, physical gold or silver, which is completely different than owning a stock certificate.
Goldco Gold IRA
Once you decide a precious metals IRA is the right choice for you, then the process to open an account is relatively simple. The best part of working with a professional company such as Goldco is they will walk you through the process and make sure you understand and are comfortable through the steps, along the way.
Three-Step Process to Open an SDIRA:
- Open Your IRA - a precious metals specialist will assist you in setting up the paperwork to open a self-directed precious metals IRA.
- Fund Your Self-Directed IRA - once the IRA has been opened, now you need to fund the account. You can fund the account by liquidating another IRA or you can roll over funds from an existing 401(k), 403(b), TSP, or savings account. NOTE: typically there are no negative consequences (or tax payments) for the rollover of the retirement funds.
- Purchase Your Precious Metals - now that the IRA is opened and funded you have the option to purchase precious metals from Goldco. There is a list of approved IRA gold and silver coins and bars on the IRS website or you can work with the Goldco team, who have the knowledge of which metals can be in your retirement account. You do not have to use all of your funds immediately. You can choose to purchase over time to take advantage of any down markets or up ticks in the market. Dollar-cost-averaging is a real and useful way to invest in precious metals.
Goldco Silver IRA
Similar to the Gold Goldco IRA process you can choose to acquire Silver Bullion for your IRA. Silver is priced at a much lower price point and depending on the type and quality silver premiums are typically lower. Here is the process to open a Silver IRA with Goldco.
Three-Step Process to Open an SDIRA:
- Open Your IRA - a precious metals specialist will assist you in setting up the paperwork to open a self-directed precious metals IRA.
- Fund Your Self-Directed IRA - once the IRA has been opened, now you need to fund the account. You can fund the account by liquidating another IRA or you can roll over funds from an existing 401(k), 403(b), TSP, or savings account. NOTE: typically there are no negative consequences (or tax payments) for the rollover of the retirement funds.
- Purchase Your Precious Metals - now that the IRA is opened and funded you have the option to purchase precious metals from Goldco. There is a list of approved IRA gold and silver coins and bars on the IRS website or you can work with the Goldco team, who have the knowledge of which metals can be in your retirement account. You do not have to use all of your funds immediately. You can choose to purchase over time to take advantage of any down markets or up ticks in the market. Dollar-cost-averaging is a real and useful way to invest in precious metals.
Check out this video by Goldco: How to Open a Gold IRA with Goldco for more information:
Press Play Icon when you are ready!
Goldco Precious Metals
Goldco has already committed to buying back the precious metals when the customer's circumstances change. The reason they choose only a select few coins to offer is they want to be able to provide investment-grade products. This also offers them an opportunity to provide the best products available.
The offerings for investors are not wide nor vast at Goldco. The available investment coins and bars consist of high-quality IRA-approved products and only a few specialty minted rounds. Goldco is not a speculator in rare coins or numismatics. The market for these types of products is based on demand and the rarity of the coins. Rare coins and numismatics are considered speculative coin investments. Yes, they could be purchased as an investment, but the market for such items is more difficult to understand and quantify.
Goldco looks to put its investors in solid investments that can be easily understood. Putting their clients in gold bullion and proof sets is the best choice. The purchase price of these coins is based on the spot price and includes the premium. Understanding the price is easy for the investor and the ability to liquidate is much easier than a rare coin or numismatic coin.
IRA-eligible coins have specific requirements. First, they need to be minted by an approved U.S. or national mint backed by the country and second, they need to have a face value. The U.S. Minted American Eagle Gold Bullion Coins come in denominations of $5, $10, $25, and $50, while the Silver U.S. American Eagle Bullion Coin has only a denomination of $1.00.
The third requirement to be eligible for IRA approval through the IRS is the minimum fineness requirements.
- Gold Coins require a minimum fineness of .995
- Silver Coins require a minimum fineness of .999
When dealing with Bullion or Proofs, investors can track the spot price and understand the market for their investment at any given point in time. Providing this type of product to those looking to secure their savings and retirement for the future makes for a better investment option.
Investing in a physical asset that is in demand, no matter the spot price, allows investors to invest with confidence that when the time comes they can liquidate with several buyers willing to purchase.
The following are Gold and Silver coins and bars available to the investor at Goldco:
Gold Bullion and Proofs
Silver Bullion and Proofs
** Special note: check with Goldco when purchasing your precious metals to verify (a) if it qualifies for your IRA and (b) the availability of the coins or bars you are looking to add to your portfolio. The availability of coins can change based on demand.
What's Next After Purchasing My Gold Coins?
Where to Store My Precious Metals?
Congratulations you have purchased your gold or silver for investment purposes. Now What? When you purchase using a self-directed IRA the requirement is you need to place the metals in a 3rd party secured storage facility such as Delaware Depository. Delaware Depository is an IRA-approved facility under IRC-408n.
No, Goldco does not hold your gold or silver in their vaults when you purchase through your IRA. They do have relationships with depositories across the U.S. which you can choose for your convenience. Working with the depositories recommended by Goldco helps with the shipping, but you have control over the coins and bars storage facility.
Many wish to hold their metals in their local safety deposit box or at home in a safe. You can hold the precious metals in these places if you purchase them outside your retirement account. If you used savings or cash to buy your gold, then go ahead and control the location it's stored. You can choose to use a depository if you are working with hundreds of thousands of dollars in coins or bars. Make sure the depository provides the following:
- Keeps your investment segregated from other coins and bars
- Has Insurance that will cover your holdings
- State-of-the-art security system
- Ease of access - can you get your metals within 24 hours?
How to Transport My Precious Metals?
Shipping your metals can vary between online retailers and precious metal IRA companies. When you purchase smaller amounts of gold or silver with cash you can use the standard USPS, Fed-X, or other mail services. Make sure the gold is insured by the selling company. Many questionable businesses require you to insure the coins till you receive them. A more reputable business will insure the package and take responsibility until you sign for the package.
Goldco fully insures your package for the value of everything you purchased.
When Will I or My Depository Receive My Metals?
You could see your metals shipped in as little as five business days with Goldco. Typically, the shipping will take place nearly 14 days and could take up to 45-60 days depending on the number of coins purchased and their availability at the time of purchase.
Check with Goldco at the time of purchase to see if they have the coins or bars in stock or if they need to acquire your metals. You still get your metals at the price you purchased even when it takes 60 days to deliver.
Understanding when the shipment will be sent and received by your depository will greatly increase your trust in the company.
Depending on how you are purchasing the metals will dictate when the metals will be shipped. IRA purchases may take 14 days; while writing a check could take up to or more than 30 days.
Goldco Fees and Investment Requirements?
Like many precious metals companies, some fees and requirements need to be met to be qualified to purchase from their businesses. Don't consider this an all-inclusive list of requirements and some fees may change.
Goldco Has NO Fees for their Clients: However, there are fees for the custodian and storage, see below.
Based on Goldco representatives currently, the fees and requirements are as follows:
- 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. - Cash transactions require a minimum savings balance of $20,000
- Early withdrawal - ask your Goldco precious metals specialist for these figures
What are Goldco's Ratings?
When you consider the top precious metals companies in the U.S. Goldco is in the top five. At The Plug, we place Goldco in our Top 5 Best Precious Metals Companies. Here is how we have assessed Goldco in the market:
- Customer Service: A+ - the online availability to talk with a precious metals specialist and the ability to pick up the phone and talk with someone in the U.S. makes for high marks.
- Reputation: A - a company that has been around for many years in this industry and has more positive reviews on several sites tells us they are a good company to work with.
- Buyback Guarantee A+ - they are putting their reputation and money on the line by offering a buyback guarantee.
In reviewing the reputation of Goldco in the precious metals market we looked at several sites including Trustpilot, the Better Business Bureau, Business Consumer Alliance, TrustLink, and Yelp. Checking multiple sources to read and verify customer reviews is important to understanding the true reputation of a business. Considered also is the fact that false reviews are often posted to give negative light or positive light on a business. We believe after reviewing hundreds of responses that overall we give Goldco a 4.9 out of 5.0-star rating.
Goldco BBB
A+ Rating 4.79 out of 5.0 Star Rating - 840 Reviews have been given to the BBB. 54 complaints closed in the past 3 years and 32 complaints closed in the last 12 months.
** Complaints tend to be around the lack of communication and understanding of the acquisition price of coins versus the IRA accounts reconciliation value based on the spot price for gold or silver bullion. Goldco is immediately working with these complainants to rectify the issues. In most, not all, cases the customer gets a reasonable and satisfying result.
Goldco Business Consumer Alliance
AAA Rated with 5.0 Stars - 1 review - 13,266 inquiries - 1 Complaint - rectified to the customer's satisfaction.
Goldco TrustLink Review
5 Star Rating - 254 Reviews - we found many of the reviews to be older than 2021 and no updated or current reviews. This is not a viable or current review site based on the age of the reviews.
Goldco Trustpilot Review
1.5 out of 5.0 Star Rating (1 review past 12 months) - 85% of the reviews are 5 Stars, 11% are 4 Stars, and the remainder are 1 Stars or less. Reviews on this site are recent and positive reviews. Most commend the customer service and experience with their contact at Goldco. Some reviews were from repeat customers commenting on the good service and support of the company.
Goldco Yelp Review
3.5 out of 5.0 Star Rating - 13 reviews were found on Yelp. One review discussed the "Premium" price paid for "Exclusive" coins. Understanding spot price helps start the process of understanding the price of gold or silver bullion or proofs. But the spot isn't an "all-encompassing" price of the coins. Taking the time to understand why you are paying over the spot will help you understand the price of coins and bars. Several customers who left reviews on Yelp were completely satisfied with their transactions and accounts.
It is our conclusion from the reviews and complaints we have read that Goldco does everything possible to satisfy the customer. Goldco states 100% satisfaction for the transactions and has offered solutions to complaints that have satisfied the customers.
The reviews are an excellent source to help investors not only understand the company they are looking to work with they also provide insight into questions that customers can ask to help clarify and alleviate concerns for their retirement accounts.
It is the responsibility of the investor to know all the facts. Having knowledge and asking questions will make for the most positive of transactions. Do your due diligence and make sure you are working with a company that you have the most comfort and trust in. There are several Precious Metals SDIRA dealers out there. You are not required to use the one we recommend.
Goldco Pro's and Con's
With every company, there are pros and cons. Having an understanding of these may help decide if choosing Goldco is right for you. Here are some items to consider.
Bottom Line
Understanding the market for precious metals and the viability of using physical assets for retirement can diversify your portfolio.
If you are new to physical precious metals working with reputable companies like Goldco will help beginners and seasoned investment specialists navigate the process and understand how these investments work.
Diversifying your portfolio is important to keep your investments stable. We know over the past 30 years Gold has increased over 400% and based on other physical assets such as vehicles and real estate we expect it to continue to increase over the next 30.
You are processing the information we have provided and considering all your options. Before you reach out to Goldco check out of 5 Best Gold IRA Companies review to gather more information on a few other top options.
Frequently Asked Questions
