Goldco Review
Founded in 2006, Goldco is a leading, award-winning gold and silver broker. The company facilitates transferring funds from an existing 401(k), 403(b), 457, pension or Thrift Savings Plan (TSP) account to a self-directed gold IRA. Goldco can also do Roth IRA rollovers or conversions.
Goldco’s goal is to help clients understand precious metals investing and protect retirement assets. The company helps clients navigate each step of the gold IRA rollover process. Consumers can also buy gold and silver from Goldco to hold outside of a retirement savings account.
- Specializes in gold IRAs and silver IRAs
- Full-service precious metals broker
- Over 15 years of experience with precious metals IRA rollovers
- Continuous client base and sales growth with high ethical standards
- Rarely sells precious metals other than gold or silver
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.
Investing With Goldco
Investing in a precious metals IRA can be an attractive option for consumers who want to balance the volatility of stock and bond markets. Consider a precious metals IRA to hold a tangible asset in your investment portfolio.
The Taxpayer Relief Act of 1997 made exceptions to the IRS collectibles rule, allowing specific bullion and coins for IRA investments. Goldco understands what coins and bars are appropriate for a retirement account. The customer service team has decades of experience with the entire rollover process. You’ll receive assistance with selecting IRS-approved custodial and storage services and precious metals.
Goldco received national recognition in 2021 by winning the Stevie Award for Company of the Year at the 19th Annual American Business Awards. The company landed a spot five times in recent years on the Inc. 5000 list of the fastest-growing private companies in the country.
Goldco Services
Goldco is a precious metals broker that facilitates buying and selling gold and silver. All IRAs require a custodian to manage account assets, and Goldco assists with the related paperwork for smooth processing. Clients also receive a great deal of assistance rolling over an existing retirement account into a precious metals IRA.
See our Best Gold IRA Companies guide to learn more about precious metals IRAs and the top providers.
After completing the paperwork, Goldco assists with selecting IRS-approved coins and bullion to include in a precious metals IRA. A specialist coordinates the purchase of assets with the custodian and communicates with the storage facility.
Goldco Costs
Goldco’s required minimum purchase is $15,000. The company charges a flat annual fee rather than a percentage of assets. Goldco does not publish fees on the website but mentions frequent fee refund promotions.
Gold storage and custodian fees depend on the company you choose to handle these services (required by the IRS). Average storage fees can run from $10 to $60 per month or as a percentage of assets ranging from around 0.35% to 1% annually.
| Cost/Fee | Goldco Gold or Silver IRA |
|---|---|
| Minimum Purchase Required | $15,000 recommended minimum |
| Annual Fee | Discuss with a representative. May be reimbursed. |
| Storage Fees | Varies by facility. |
| Custodian Fee | Varies by custodian. Typically $75 to $300 annually, depending on account value. |
| Metals Available | IRS-approved gold and silver bullion and coins. |
You’ll find some basic gold and silver charts in the IRA section of Goldco’s website. Precious metals prices can fluctuate since they’re affected by production and mining, central bank reserves instability, interest rates, and many other factors.
How to Open a Goldco Precious Metals IRA
Customers can call Goldco directly or fill out an application online to open a precious metals IRA. You’ll need to provide a Social Security number and other identifying information, as required by any investment account.
Goldco will mail or email you a comprehensive guide explaining appropriate precious metals investments. After reviewing the options, you can get help deciding what gold or silver is suitable for your IRA.
Goldco Reviews and Complaints
Goldco has an A+ rating from the Better Business Bureau. Consumer reviews on the BBB site give Goldco 4.87 out of 5 stars. The few complaints filed have all been resolved thoughtfully by the company. Goldco has a AAA rating from the Business Consumer Alliance.
ConsumerAffairs readers give Goldco 4.8 out of 5 stars. Reviews indicate Goldco is very responsive to questions, and many noted that the specialists were thorough and patient. Goldco also has 4.8 out of 5 stars on Trust Link and Google reviews.
Goldco Q&A
-
How do I sell gold or silver held in a Goldco precious metals IRA?
Goldco offers a buyback program to clients who want to take distributions from their accounts. Your specialist can also help you sell on the metals market. -
Can I store my precious metals at home?
No. IRS rules forbid keeping your IRA precious metals at home or in a standard safety security box. The storage facility must restrict access and store each customer’s precious metals separately. This ensures the metals you purchased are returned to you (or cashed in), meeting legal distribution requirements. -
Are the values of the precious metals I buy for my IRA guaranteed?
Like all investments, the future value of precious metals is not guaranteed and rises or falls based on various market influences. -
When can I take distributions from my Goldco Gold IRA?
You or the beneficiary of your precious metals IRA can start taking penalty-free distributions from the account at age 59 1/2. -
How long does it take to rollover a Traditional IRA into a Gold IRA?
How long does it take to roll over a traditional IRA into a gold IRA?
IRA rollovers typically take around two weeks to complete. However, each Goldco application is different, and processing time varies by case.
Conclusion
Goldco guides investors through important decisions, the rules surrounding precious metals IRAs and IRS-approved investment options. Goldco offers many years of experience with the precious metals market and silver and gold IRAs. Consumer reviews frequently mention the level of customer service Goldco provides throughout establishing a precious metals IRA.