Goldco Review – December, 2024
Welcome to our Goldco review! In today’s uncertain economy, how can you keep your retirement money safe? With rising inflation and volatile markets, hard assets such as gold can provide a much-needed hedge for your portfolio.
Even better, investing through a gold-backed IRA with Goldco lets you harness the power of tax deferral for even better results.
Backed by an unswerving commitment to white-glove customer service as they continuously maintain an excellent reputation on the top consumer protection sites, Goldco will be there for you every step way with lifetime support.
Third: Buyback
Best 5 Rating
4.8
Goldco Review Spotlight:
- Recommended by Sean Hannity.
- Get up to $10,000 in free silver on qualifying purchases
- A+ BBB rating and AAA rating at BCA
- INC 5000 Financial Category Winner
- Printed Guide, Audio Guide & Video Guide.
- Strong focus on customer education
Positives & Negatives
Goldco Review Positives
- Low minimum investment for direct (non-IRA) purchases ($10,000)
- Highest buyback price
- Excellent customer service history
- Consistently rated A+ by the Better Business Bureau
- Long-established, large trusted company
- Multiple-time industry ‘best-of' prize winners
Goldco Review Negatives
- Higher minimum for Gold IRA ($25,000)
- No live pricing on website
- No self-serve option
Why Invest Inside a Gold-Backed IRA?
In today's market, stocks, bonds, and other assets frequently tend to move in unison. Bonds no longer are the effective hedge they once were. So, where can you turn?
Gold is a time-tested hedge against political and economic uncertainty. Gold also tends to move independently of other assets, helping buffer your portfolio from large market shocks. That's why money managers usually advocate that a well-balanced portfolio include some gold exposure.
With continued rampant government spending, owning gold and precious metals is even more critical. Time has shown that these hard assets are one of the few ways to protect against quantitative easing and currency debasement. Investing in gold through a gold-backed IRA can help you feel more financially secure in uncertain times.
Money is gold, and nothing else. If a man had the credit, and I had the money, his customer would be badly off.”
Why Consider a Goldco IRA?
When you’re looking for the best Gold IRA provider, Goldco is a solid choice. Here are the benefits of choosing them as your partner:
- Excellent buyback guarantee. If your circumstances change, Goldco provides a unique buyback guarantee to offer you the highest price currently available. While you will likely never need it, this can provide additional security in case of an unforeseen event.
- Low minimum investment. Indeed, one standout feature of Goldco is their low minimum investment requirements: $10,000 for cash purchases or $25,000 for retirement accounts.
- Customer service-centered. Goldco is a leading precious metal dealer with noted strength in customer service. Without reservation, this is evidenced by their consistently high ratings on consumer rating platforms.
- Experienced. Founded over a decade ago, Goldco has extensive experience helping its customers create and maintain Gold IRAs. In fact, their staff collectively has over a century of combined experience both as dealers and wholesalers in the precious metals industry. Thus, this knowledge helps ensure that your Gold IRA is setup correctly, preserving your tax benefits.
- Consultative approach. Buying gold and other precious metals for the first time involves a distinct learning curve. Goldco is ideal for new gold investors, as they take a consultative approach, advising you through the entire investment process.
- Full service. Goldco works with most popular self-directed IRA custodians. So, they will help you select one that best meets your needs. They will also assist you in choosing the most appropriate gold investments and arranging vaulting, so you'll know your holdings are safeguarded.
A Strong Choice
Like American Hartford Gold, Augusta Precious Metals, and Birch Gold Group, Goldco is a strong choice when evaluating top gold IRA companies. Secondly, they are well-positioned to help you set up your Gold IRA correctly. Furthermore, they are also easy to work with. Lastly, to learn more and get started, visit their website. Undeniably, it's a good idea to request their physically shipped free gold IRA kit which includes a book, audio, and video.
After you contact them, one of their specialists will be in touch. In this call, they can arrange to ship your free kit and answer any initial questions you have about the service.
Goldco Review Rating Details
We research customer reviews on several prominent review websites as part of our annual ranking process. Here's more information on what we discovered on Goldco.
- Better Business Bureau. Goldco was assigned an A+ rating. The company also holds a 4.8 (out of 5) customer rating on the Better Business Bureau as of the review date. The Better Business Bureau (BBB) is a nonprofit platform that helps consumers resolve issues and conflicts with businesses.
- Trustlink. Goldco currently holds, as of the date of our review, a 4.8 star (out of 5) rating on Trustlink. This rating is based on 254 reviews. User reviews are only verified when Trustlink can confirm that the reviewer did business with the company being reviewed.
- Google My Business. Goldco is rated 4.9 out of a possible 5 on the popular GoogleMyBusiness part of the search engine. This is based on 2,229 reviews as of the date of our review.
Additionally, here are some other things to know about Goldco as one of the best Gold IRA providers:
- Business Consumer Alliance rated the firm Triple-A
- Has cumulatively earned over one thousand 5-star customer ratings
- Is an INC5000 award winner for over 5 years
Goldco Review of Fees and Costs
With Goldco, you can either purchase gold coins for cash or setup your account as a Self-directed Gold IRA. Here is our review of their fees and costs.
(Please note that fee information is current as of this review.)
Goldco Review of Their Fees and Costs
Our Goldco review revealed that they very fair fees and costs. Here's a summary of their pricing as of November 2023:
- 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.
To get started, visit Goldco's website here. Be sure to request their complimentary gold kit so you can get acquainted with their offerings.
After you request the free kit, team members are available to answer questions about their service or the process of adding gold to your portfolio.
Promotions Currently Available at Goldco:
- Up to $10,000 in free silver on qualifying purchases.
- Goldco offers multiple promotions throughout the year to help you maximize your purchases. Please inquire directly.
How to claim: You can utilize these promotions by mentioning them when you visit with a Goldco team member to customize and arrange shipping for your free gold kit.
Goldco History
Headquartered in Calabasas, CA and founded as an online precious metal dealer by their CEO Trevor Gerszt over a decade ago, the company has been acknowledged and praised for its growth and customer service.
Trevor's vision was that the firm offer individuals and families ways to secure their long-term financial security using precious metals and other alternative assets.
It has been recognized as one of the fastest-growing companies in the Los Angeles area by the Los Angeles Business Journal. The firm has also been named to the Inc. 5000 list for over 5 years.
The company's credentials and experience can therefore provide peace of mind, especially for newer precious metals retirement savers.
Why Consider a Goldco IRA?
Today's markets are fast moving. With unconstrained money printing and record government debt, many asset classes aren't as reliable as they were in the past. Bonds, for example, often move like stocks and are not necessarily the safe investment they used to be.
What can protect you in today’s uncharted financial territory? Investing in gold has been a time-tested strategy to protect you from financial volatility and help you keep pace with inflation.
Starting a gold-backed IRA takes this strategy one step further. It allows you to hold gold and other precious metals in the most tax-advantaged manner possible. By utilizing the power of deferred taxation, your investment can grow faster. By selecting Goldco as your provider, their experienced team can help you set everything up correctly, so you can realize the maximum benefit from your gold IRA.
Why Gold?
Of course, you could put other investments in an IRA, and most people do. But there are many reasons why precious metals and specifically gold is a wise choice in today's volatile economic and political climate:
- Gold has served as a safe haven asset for literally thousands of years. Investors usually flock to gold when the stock market or world economy encounters shocks. Many refer to gold as “portfolio insurance” since it provides stability in a way that most assets cannot.
- Gold traditionally serves as one of the few hedges against inflation. Consequently, over the past hundreds of years, societies facing inflation or even hyperinflation have turned to gold to protect their purchasing power.
- Gold also acts as a universal currency and has for the past 5,000 years. Currencies of individual countries are subject to economic and political pressures, which can cause volatility. Gold, however, is not subject to the influence of any one government, so it is somewhat immune from those other pressures.
- Gold is an effective diversification tool. Adding gold to your traditional portfolio can help reduce risk and improve overall returns over long time frames.
Adding a Gold IRA is one of the most efficient ways to add precious metals to your holdings. Thus, you’ll get the benefits of investing in gold in the most tax-advantaged way possible.
What are the Steps to Establish a Gold IRA with Goldco?
As one of the top-rated Gold IRA companies, Goldco makes your gold investment experience smooth and straightforward. Because Gold IRAs are less common than traditional IRAs, it is critical that you work with a provider who understands the regulations impacting these accounts. The team at Goldco has helped many customers successfully set up and maintain these accounts, so they can help ensure the process is easy for you.
Here are the steps involved.
Step 1. Create a new Self-Directed IRA (and Arrange a Rollover)
The first step will be starting a new self-directed IRA. This step may include the rollover of an existing retirement account if that is how you intend to fund your Gold IRA. Your Goldco representative will help you fill out the paperwork to ensure it is done right. You may need to consult your tax advisor for specific tax questions.
Step 2. Custodian Selection
Next, you will need to select a custodian for the new account. This needs to be a separate firm according to tax regulations. Your Goldco representative can suggest suitable custodians and help you make a selection.
Step 3. Metals Purchase
Once the new account is active, you'll be ready to select the gold or other precious metals you'd like to invest in through your new Gold IRA. You can't pick any metal; all items must be IRA-approved and meet standards specified by the IRS. Your Goldco representative can help you choose suitable gold (and silver) investments that meet the criteria and fit your needs.
Step 4. Plan for Storage
Finally, your custodian will arrange for your purchased metals to be securely stored in a depository. The depositories used by Goldco and IRA custodians are high-security venues that utilize significant technology and physical security to protect your holdings.
That's an overview of the process. Be aware it can take a few weeks to get through these steps.
What is the Process to Rollover an old Retirement Account to a Goldco IRA?
If you have an existing 401(k) (or other retirement account) that you want converted into a gold IRA, the procedure is not overly complex. However, it must be done carefully, or you may face hefty penalties.
Working with Goldco can help make the process easier. They understand the paperwork and will help walk you through it, so everything is done in accordance with regulations.
A critical aspect of rollovers is that you usually should not take possession of the money—it should be sent directly from the existing financial institution to the new one. Once the money is there, Goldco can help you select the appropriate metals and then help you place the order.
Goldco Review Frequently Asked Questions
Does a Goldco IRA have a return or buyback policy?
Since you’re buying an investment, there is no “return” policy; you simply sell the investment when you no longer want to hold it.
Selling physical precious metals, though, is different than selling a stock or ETF, which is primarily electronic. However, Goldco is unique in that it offers a Buyback Guarantee.
If you buy through Goldco and later wish to sell, the Buyback Guarantee at the highest price helps you know you will easily be able to sell. Most other companies do not offer this type of guarantee to their customers.
What tax ramifications are there if I sell my gold back to Goldco (or another dealer)?
If you purchased the metals with cash, the sale would be taxable. Thus, dealers must report most sales to the IRS.
However, if you hold these in your Gold IRA, the sale becomes tax-deferred, likely exempting you from capital gains tax.
Instead, you usually will be subject to regular income taxes when you withdraw from your Gold IRA in retirement. Without a doubt, please contact your tax advisor for specifics on your individual situation.
What kinds of precious metals products are available in a Goldco IRA?
Goldco sells gold and silver bullion bars and coins.
However, if you're looking to invest in a gold-backed IRA, only certain products are approved for use.
Your Goldco representative will provide guidance when selecting metals for your gold IRA or cash purchase.
How does Goldco help ensure the safe storage of the physical metals?
If you are investing through a Gold IRA, your IRA custodian will select an approved depository.
If you're investing outright with a cash purchase, you may store your metals in the location of your choice.
The depositories recommended by Goldco and IRA custodians are purpose-built with state-of-the-art security, armed guards and high-tech surveillance to help ensure that your metals are safe.
Additionally, these depositories also provide insurance against common losses.
What are the best things to look for in a precious metals company?
When you're looking to start a gold-backed IRA, it's essential to only do business with the top-rated gold IRA companies. Here are a things to look for when evaluating providers:
- First, insist on a company with a significant amount of experience. Gold-backed IRAs are different from regular IRAs and other retirement accounts because they have some additional requirements. If you don't set up and maintain the IRA properly, you risk losing your tax benefits or facing penalties. So always look for a firm like Goldco, which has been helping customers with gold-backed IRAs for many years.
- Second, always check out customer reviews. And go beyond the reviews posted on the company website. Instead, look at independent organizations that allow customers to truthfully rate companies. The BBB (Better Business Bureau) and Trustlink are two examples of reliable sources. We have ranked the five best gold IRA companies to save you time, based on our research of independent review sites. Of course, any serious firm that has been in business for many years will get an occasional negative review. But if there’s more than a small percentage of disgruntled customers, don’t risk your money. Excessive customer complaints may signal that the firm is not taking care of its customers or possibly is not financially stable.
- Look for firms that are transparent about fees and costs. If a company is not upfront when you talk with them, there may be some reason they prefer to hide their pricing. Established firms are comfortable being open with pricing. And by working with those firms, you avoid annoying hidden costs that you didn't consider.
What problems should I anticipate while creating a Goldco IRA?
Setting up a self-directed gold-backed IRA is straightforward, but you can easily make mistakes in a few areas. When rolling over an existing retirement account, you should typically have the money sent directly to your new IRA custodian, not to yourself. Also, it's crucial to purchase only gold investments that appear on the IRS’s approved list.
In brief, working with Goldco helps you avoid these mistakes and ensures correct setup. Don't risk your money with a new provider. Unquestionably, it's safest just to stick with the companies that have proven to properly serve customers and follow all regulations diligently. Indeed, that's what you'll get with Goldco, one of the top Gold IRA companies.
Finally, don't forget to talk to your tax professional to make sure you can realize the full benefits of a Gold IRA.
In conclusion, ready to learn more? Reach out to Goldco for a free gold IRA kit to begin. In fact, there's no cost, no-obligation and no pressure.
Best 5 Rating
4.8
