A quick google search reveals a long list of precious metal IRA specialists ready to help you diversify a portion of your retirement savings into physical gold and silver.
But which company should you choose to work with?
In this Goldco review, we’ll take a close look at Goldco's history, fees, reputation, online complaints, and more.
Let's get started.
Goldco: Company History
Founded by Trevor Gerszt, Goldco is a full-service precious metals company located in Calabasas, California.
From gold IRAs to direct purchases of precious metals, Goldco has served thousands of Americans.
The gold dealer has facilitated over $2 billion in gold and silver transactions in over a decade of business.
Goldco’ Reviews and Complaints
Due diligence is important before making any decisions with your savings. It makes sense to research any gold company before purchasing your bullion bars or coins.
In recent years, some well known gold companies have found themselves in legal battles. Established gold dealers have been sued, and some have even gone out of business for unethical business practices and other gold IRA scams.
So where do Americanas turn to assure they’re working with a legit gold IRA dealer?
Fortunately, the internet makes it difficult for bad actors to hide. Customers have the ability to go online and vent any frustrations with these gold IRA companies.
We’ve curated Goldco’s online complaints, reviews, and ratings from independent websites. Let’s see how Goldco’s reputation stacks up:
We're happy to report that Goldco has built an overwhelmingly positive online reputation in more than a decade of serving gold IRA customers across the United States.
We’ve vetted 25+ gold IRA companies. Based on our research, we’ve decided to add Goldco to the top of our list of recommended gold dealers for 2024.
Goldco Products and Services
The company has a wide selection of precious metal coins and bars available for purchase. Goldco is very familiar with navigating the rules and regulations surrounding gold IRAs. As your gold and silver specialists, Goldco is able to set up up your new gold IRA without worry of an IRS penalty.
It's important to note that Gold IRAs cannot hold collectibles, numismatic, rare, or graded coins. Examples of Goldco precious metals that are acceptable for your IRA include:
This is not a full list of Goldco's invesntory. More information about precious metals allowed in your IRA can be found here.
If you're interested in bars or coins not listed above, simply reach out to Goldco. The company should have no problem sourcing any gold IRA-eligible bars and coins.
Note: Goldco regularly offers promotions and incentives for new customers. At the time of this writing, customers can qualify for up to $10,000 in free silver.
Goldco Review: Fees and Pricing
To avoid any confusion, we've taken Goldco fees information directly from Goldco's website.
The company's preferred IRA 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 for an IRA is $100, and storage is $150 for segregated storage or $100 for non-segregated storage. You can discuss the pros and cons of each storage type with your Goldco account rep.
Know that 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.
Note: The required minimum purchase at Goldco to start a gold IRA is $25,000.
Goldco Complaints: What I Don’t Like About the Company
My only complaint is that Goldco has a minimum purchase of $25,000 for new gold IRA accounts. For non-IRA deals, the company will handle purchases as low as $3,500.
While I understand that 401(k) or IRA rollovers are usually larger purchases, I some of Goldco's competitors are willing to open your new account with much less.
If you're considering buyinig over $25,000 in precious metals, then Goldco is worth your consideration. But this $25,000 minimum may be high for some Americans.
If you Goldco's minimums are too high, don't worry. There are still several highly rated gold IRA dealers with lower account minimums worth your consideration. For example:
Silver Gold Bull: No minimum for opening a new gold IRA.
Noble Gold Investments: $10,000 minimum for new gold IRAs.
American Hartford Gold: $10,000 account minimum
Birch Gold Group: $10,000 gold IRA minimum
Goldco is a highly rated gold IRA company. It appears they really care to do their customers right, and it is reflected in their high rankings across verified customer reviews.
The company has low IRA fees, reasonable pricing, and a generous buyback program. Goldco is currently one of a short list of gold IRA dealers that we’ve endorsed on this website.
A specialist will call you to confirm your shipping address and get educational material sent out for delivery within two business days.
Take the time to research and ask questions.
It's always a good idea to speak with a financial advisor before making any decisions with your retirement savings. It's also a good idea to compare at least 2-3 companies before making a decision with your retirement savings.