Choosing the right products to invest in can be challenging.
In this Goldco review, we explore the different products and services they offer to build your retirement savings.
Also, we’ll get into the finer details of what makes them one of the top three options for protecting your investments against stock market volatility.
Goldco Review
Goldco is one of the top IRA providers for precious metals in the United States.
Initially, they were founded as Gerson Financial Group LLC and focused primarily on B2B precious metal sales.
Today, they offer an extensive list of products to investors looking to build substantial retirement savings.
The company is headquartered in Woodland Hills, California, as a full-time gold IRA provider.
They also specialize in silver IRAs and a couple of other precious metals.
Alternatively, you can use their services to buy precious metals protected against stock market volatility instead of a self-directed gold IRA.
Another fundamental tenet of Goldco is to help customers diversify their existing portfolios.
Choosing to invest in gold is a fantastic way to work towards protecting your savings against inflation.
With palladium, platinum, silver, and gold IRAs to choose from, Goldco has a great selection to consider.
The central premise of this company is to help individuals hedge themselves against the volatility of the stock market and growing inflation.
You’ll easily find an account meant for you with premium-level services to ensure top-level sales and delivery of precious metals.
Also, all of their products are IRS-approved, as to be expected.
Who Is This Gold IRA Company Meant For?
Some gold IRA companies are designed for the wealthy, while others are best suited for first-time investors.
Goldco takes pride in being an all-in-one approach for any investor interested in diversifying.
You might also be interested in their services if you want to own physical assets instead of investing in cryptocurrencies or the stock market.
With Goldco, you can own tangible assets within your investment portfolio.
Although rates may change, the general value of precious metals won’t be as volatile as other investment solutions.
Goldco is also an attractive option for people interested in protecting their wealth over several years.
Some types of investments are designed to be cashed out well before retirement, while your precious metals IRAs stay valuable until it’s time to retire.
By working with Goldco, you can find the ideal accounts far better than traditional securities, helping avoid panic if the market tanks.
All in all, these investing specialists have decades of experience designed for establishing asset protection.
You’ll have the added stability to your asset growth that you’ve always needed, giving you peace of mind.
What’s Included?
When you start looking into owning an account with Goldco, you’ll find they specialize in two distinct account types: direct purchases and precious metals IRAs.
The precious metals IRAs are the most popular, allowing you to buy and sell gold and silver for a long-term investment.
What makes their gold and silver IRAs unique is the company handles most of the legwork for you during the account setup process.
You must complete the paperwork and begin funding your account to make purchases.
There are also added benefits to this type of account, such as getting the same tax benefits as a standard IRA.
When you opt for precious metal investments, you’ll be able to store your products off-site at a reputable depository.
An approved third-party depository offers remarkable coverage and thoroughly protects your investments.
Goldco uses Equity Trust Company as the custodian for their IRAs as an added benefit.
The second option included with a Goldco account is to purchase non-IRA precious metals.
Whether you want to store your gold at home or off-site, this account option can be preferred to access depositories.
Any investor can consider buying non-IRA precious metals regardless of earned income or age.
You’ll have complete control over where your investment is stored, whether in a secure vault at home or a safety deposit box.
It can be preferred by those looking for a more hands-on approach to building their retirement funds.
Overview of Features
Here’s a detailed look at what you’ll expect from Goldco:
- Transaction Minimums and Fees
Transaction minimums and fees are important features to consider with your investment accounts.
With Goldco, there are several fee structures to take into account. These include:
- Non-segregated storage fees: $100 annually
- Segregated storage fees: $150 annually
- IRA maintenance fee: $80 annually ($50 increase after $100,000 investment)
- IRA setup fee: $50
- Funding via wire: $30 per transaction
It means you could spend approximately $260 setting up your account during your first year of ownership.
Afterward, your annual fees will be approximately $180, depending on the type of account and transactions you make.
That said, Goldco also offers regular taxable accounts that do not have storage, startup, or annual fees.
Other potential fees include:
- Custodian fees
- Precious metals market seller fees
- Fees for money transfers
- Fees for extra investment options
- Minimum Startup Deposit
Most physical gold IRA companies require their customers to make an initial deposit before gaining access to investing options.
Goldco’s minimum deposit is between $20,000 and $25,000 when starting an IRA.
This is important to note, especially if you’re creating an IRA younger than near-retirement age.
As we discussed, there is always the option of making cash purchases of physical metals.
In these instances, you’ll only need to deposit $3500 at your account opening, making it far more affordable.
However, your physical gold purchases must be completed using cash transactions.
This precious metals broker’s minimum startup deposit isn’t the most expensive, but it’s also not the most affordable on the market.
It’s a great middle-layer solution for serious investors.
- Free Storage for Cash Sales
You could get even more benefits if you don’t want a Goldco IRA and would much rather put through cash transactions.
Goldco allows its customers to benefit entirely from free storage for their precious metals if they buy the products outright.
There’s also free delivery if you have the gold, silver, or other metals delivered to an address of your choosing.
- Popular Coin Selection
Another essential feature to consider when choosing a company for your IRA is to consider the coins they have available.
Goldco works only with IRS-approved products, like many other gold IRA companies.
That said, you can find some of the most popular inventories to begin building your collection.
There are far too many to list in this single review, but a few examples of popular gold and silver coins from Goldco include:
- Gold Valor coins
- Gold American Eagle Proofs coins
- Gold Phoenix coins
- Silver Australian Spotted Eagle Ray coins
- Silver Great Barrier Reef coins
- Silver American Bald Eagle coins
When looking to purchase coins from Goldco, you’ll have plenty of information at your fingertips.
Not only do they provide a thorough background on the coin type, but other types of information, including:
- Face value
- Content
- Weight
- Producer
- Purity
- Diameter
- IRA eligibility
- Retirement Plan Rollovers
One of the most popular ways clients may consider opening a gold IRA is through an entire rollover process.
Goldco helps to facilitate bringing your traditional IRA or 401(k) into a precious metal IRA.
It’s a painless process, especially since third parties handle the money transfers using ethical business practices.
A Goldco specialist will create a new tangible item IRA account with your help during a rollover.
You’ll then begin funding the account using your old IRA. From there, you can purchase different physical investments, like precious metals.
- Buy-Back Guarantee
A common feature with most gold IRA companies is that they offer a buy-back program.
It ensures that you will always be able to find a buyer for your products rather than sourcing one yourself.
With Goldco, they feature a buy-back guarantee, ensuring you’ll get the highest prices for your investment compared to anywhere else.
If you decide to sell your precious metals, Goldco will be the first person in line interested in repurchasing them.
Of course, it’s your choice, but they guarantee they’ll give you the highest offer on the market.
- New Customer Incentives
It can be beneficial to choose a gold IRA company that rolls out the red carpet for you upon joining.
Goldco takes it a step further, offering an assortment of new customer specials to help retain your business.
A few examples of some benefits you could qualify for include:
- $10,000 in free silver (with qualifying IRAs)
- All fees are waived with a $50,000 minimum deposit
- Five percent back in metals when ordering +$50,000
- Storage Solutions
Ordering your precious metals for your IRA seems simple enough, but what about storage?
Goldco works with the top-rated depository nationwide, the Delaware Depository.
Within this storage facility, you’ll have class-3 vaults paired with $1 billion in insurance from Lloyd’s of London.
Outside of the Delaware Depository, you can also choose from IDS in Dallas, Texas, or Brinks in Salt Lake City, Utah.
These two options are best if you’re searching for segregated storage.
As a final alternative, customers can choose a completely different depository if they have a personal preference.
Pros:
- Affordable annual fees compared to the precious metals industry
- Impressive buy-back guarantee program for all types of gold
- Exceptional customer support team
- Great onboarding promotions for IRS-approved coins
Cons:
- Relatively high minimum deposits
- No online account signup
How to Sign Up for an Account with Goldco
Although Goldco has plenty of future-proof products for customers to enjoy, they lack an online signup process.
That said, getting your hands on a free gold IRA kit is quite easy, giving you the insights needed to know what you’re signing up for.
Within the kit, you’ll find the introductory paperwork you can fill out and mail back to begin the signup process.
After you have submitted the paperwork and spoken with a representative, there are three simple steps to using your gold IRA.
These steps include:
Step No. 1: Sign Your Agreement
Every account owner will be required to sign an agreement before being allowed to buy or sell precious metals through Goldco.
The agreement explains your purchasing will be kept secure, and you agree to Goldco’s terms of service for using their platform.
Although this may sound intimidating initially, a representative will walk you through the entire process.
Step No. 2: Funding Your Account
The next step is to start funding your gold IRA to begin making purchases.
Clients can roll over existing retirement accounts, transfer funds from their previous IRA, or fund their new gold IRA with cash.
When rolling your 401k to gold IRAs, there are requirements to consider.
For example, you will need to complete the rollover within 60 days or be subjected to penalties.
With Goldco’s exceptional customer service, they can help you transfer your retirement portfolio easily.
Step No. 3: Begin Buying
Your account should now have at least $20,000 or $25,000 available for investing.
You can choose any metal from Goldco Precious Metals, send it to a specific depository, and begin building your retirement.
Alternative
One of the most popular alternatives to Goldco is Augusta Precious Metals Company.
Augusta Precious Metals offers stellar customer service and gold-star ratings across the board.
They also offer plenty of investment education to help you make the most of your gold IRAs.
Investing has never been simpler with a streamlined signup process and gold coins, silver, and other precious metal coins.
Much like Goldco, you have a team of experienced advisors to help guide you through the entire process.
Verdict
Our Goldco review found that they’re among the most helpful gold IRA companies for moderate to serious investors.
Their options are endless, with competitive introductory offers and savings paired with numerous gold, silver, platinum, and palladium products.
Building your financial future for your retirement has never been simpler.