Precious metals are a one-of-a-kind investment to diversify your portfolio, hedge against inflation, and have in your physical possession–unlike the stock market. Also, their price isn’t influenced by the stock market like the other investments are. This makes them the ideal investment vehicle to safeguard your retirement against risks in the stock market.
Goldco has an excellent reputation as one of the top-ranking gold IRA specialists, and are known for excellent customer service and high ethical standards. They provide valuable education to increase your knowledge of precious metals. In this article we will talk about the pros and cons of Goldco.
Who is Goldco?
Goldco Precious Metals is a provider of gold and silver and precious metals IRAs. They’re based in California and were established by Trevor Gerszt in 2006. The company has received numerous prestigious honors and accolades, including being awarded “Company of the Year” for two years straight. They ‘re the only company recommended by major media leaders like Sean Hannity, Chuck Norris, Ben Stein and Stew Peters.
What separates Goldco from other providers are the services they provide: In addition to gold and silver IRAs, you can also purchase precious metals directly from them in the form of coins and bars.
Although their account minimums are higher than some of the other companies out there ($25,000), they offer many advantages these other companies don’t have, such as the ability to easily roll over any type of existing retirement account, including IRAs or 401(k), 403(b), and TSP accounts–not just savings accounts. Rollovers have NO Fees. Their customer service is excellent and do not pressure you to buy. They have many positive reviews from clients who say reps go above and beyond.
Looking for a lower minimum investment? American Hartford Gold offers the chance to invest in a precious metals IRA with only $5,000.
Would you roll your retirement savings into a gold IRA?
- Competitive pricing
- Valuable in-depth educational resources
- Rollovers are very easy + NO fees
- Slightly higher minimum investment
- Flat rate fee is slightly more when you have a lower balance
Let’s break down the key features Goldco offers its customers.
Gold and Silver IRAs
Goldco Precious Metals offers gold and silver IRAs as its primary service. These investment accounts, which come with tax advantages, allow you to invest in gold and silver for retirement.
You can get started by signing up on Goldco’s website or requesting a free informational kit. Afterward this, you can easily fund your IRA by rolling an existing retirement account—any tax-advantaged account will work (e.g., another IRA, 401(k), 403(b) account) into your new Goldco IRA.
From there, you can further invest your portfolio savings into gold and silver coins or bars. If you’re currently only invested in the stock market this is a safe way to diversify and protect your retirement savings.
How much do you have saved for retirement?
The government has set specific requirements, such as purity, that the gold and silver in a precious metals IRA must meet. Goldco makes it easy to purchase IRA-approved gold and silver IRAS, and / or gold and silver coins and bars, by selling directly to their customers.
If you’re interested in diversifying your portfolio, Goldco also offers investment opportunities in other precious metals such as platinum and palladium. Their experts specialize in helping customers choose the right mix of metals to invest in based upon their goals.
Precious metal sales are processed by their team–who also boast great customer service–so opening an account with them is easy sailing.
Buying Precious Metals Directly
If you’re interested in buying gold or silver for personal possession, but don’t want to open an IRA, Goldco can help. They offer a wide range of coins and bars in both metals to store at home.
As per IRS rules, gold coins need to be 99.5% pure or higher (except for American Gold Eagle coins. These ones have 91.67% purity). Silver coins need to have the same high purity standard of 99.9%.
Fortunately, Goldco Precious Metals offers investors a wide variety of coins and bars that adhere to the above purity standards and IRA regulations.
Their offerings include:
- Gold American Eagles
- Silver American Eagles
- Gold American Eagle Proofs
- Silver American Eagle Proofs
- Silver American Bald Eagles
- Silver Australian Spotted Eagle Rays
- Silver Australian Striped Marlins
- Gold Australian Striped Marlins
- Gold bars
- Silver bars and more
Do you have concerns about how to liquidate your gold? Goldco has a very good buyback program so that you can take the distributions needed when it’s time, without the hassle of locating a reliable dealer to buy your gold or silver.
Just like with any IRA, you’re able to take distributions at 59 and 1/2 without being penalized.
Precious Metals Storage
While the government doesn’t allow you to store gold and silver in a personal IRA, Goldco provides several storage options:
- Delaware Depository: $100 for non-segregated storage
- Brinks Salt Lake City: $100 for non-segregated storage
- International Depository Services Group (Texas): $150 for segregated storage
While Goldco doesn’t have fees published on their website, we discovered them after speaking with a representative. Here are the notable ones:
- $80 one-time setup fee
- $200 annual storage, maintenance, and insurance fee
The minimum purchase for anyone buying gold or silver outside of an IRA account is $25,000. Their set-up fees and annual rates compare favorably to other gold IRA investment companies that enable customers to buy precious metals.
Goldco Review – The Bottom Line
Goldco is a highly reputable, well-established provider of gold and silver IRAs, with excellent ethics and outstanding customer service. However, Goldco does have a relatively high minimum deposit. If $25,000 is too high of a minimum investment for you, consider another provider such as American Hartford Gold or Birch Gold Group.