Goldco Review: Is This Precious Metals Company Worth The Hype?

*We may receive a referral fee from the company featured in this article. This is not a financial advice article. Refer to a professional for investment advice.

If you’re nearing retirement or simply looking ahead to your financial future, you may be considering ways to diversify your investments. While stocks and bonds are well and good, the volatility of these conventional investments can make any consumer apprehensive.

One option for balancing and diversifying your portfolio is investing in precious metals. Silver, gold, platinum, and palladium are all types of precious metals that you can invest in for greater stability. However, if you want to make the dive into precious metals investing, tracking down a dependable company is key.

Goldco is a leading precious metals company that helps facilitate the purchase of silver and gold IRAs, along with non-IRA precious metals purchases. Having earned hundreds of glowing reviews, as well as the title “Company of the Year” in 2021 and 2022 American Business Awards, Goldco has been gaining attention in recent years.

But, is Goldco truly worth the hype? Is this company the right choice for your precious metals investment? In this article, we’ll break down the details of Goldco’s certifications, fees, and more to help you make the best possible choice for your financial future.

Get Your Free Kit

Understanding Precious Metals IRAs

Prior to breaking down everything that Goldco has to offer, let’s clarify what precious metals IRAs are and how they work.

IRA stands for individual retirement account. Precious metals IRAs are forms of self-directed retirement accounts. With this type of account, you can invest in several different unconventional assets, such as cryptocurrency and, of course, precious metals like silver and gold.

The key benefit of obtaining a self-directed IRA is that it will grant you a much larger choice of assets. Additionally, with self-directed IRAs, investors gain the chance to invest based on their interests and expertise.

Simply put, self-directed investment accounts will give you greater flexibility in your investments, as well as the freedom to make more decisions regarding your investments. This is in contrast to conventional investment accounts, which tend to be mainly controlled by account managers.

Now, we’ve clarified the benefits of self-directed IRAs. But, it’s worth noting that precious metals, in particular, have investment benefits of their own. The most notable of these benefits include:

Stability

Precious metals offer greater stability than paper assets, like stocks and bonds. The value of gold, in particular, has been consistent over time. This benefit can allow investors to balance out the most volatile assets in their portfolios.

Protection Against Inflation

Similar to the benefit listed above, precious metals can offer protection against inflation. Precious metals are often used as an inflation hedge, giving investors security in the event of an economic downturn. 

Tangibility

One of the benefits of precious metals investments listed on Goldco’s website is tangibility. Unlike paper assets, precious metals are tangible. This means that investors have the chance to own the asset outright.

Accessible Information

When you’re investing your hard-earned money, you want to be well-informed. Luckily, precious metals offer the benefit of transparency. The global precious metals market and easily-accessible information regarding the value of precious metals make it easy for investors to stay in the loop.

You can also watch this quick video to get an idea of exactly what Gold IRAs are –

How to Open a Gold IRA with Goldco (Diversify and Protect Your Portfolio)

Get Your Free Kit

An Overview of Goldco

Established in 2006 by Trevor Gerszt, Goldco is a leading precious metals company that specializes in helping customers diversify their retirement portfolios. Gerzt began the company with a longstanding interest in finances and even collected silver dollars as a young boy. Since its inception, this company has gained a number of awards, recognitions, and certifications, which we’ll list below.

Goldco is considered one of the top names in the realm of precious metals. They facilitate the purchase of precious metals and are focused on helping its customers diversify their investments to achieve greater financial stability.

Having been helping customers safeguard their retirement savings for more than a decade, Goldco is a longstanding name in facilitating precious metals investments. The company has a team of Goldco Specialists who are available to assist and advise investors, helping to streamline the process of investing in precious metals. 

Goldco’s Awards and Certifications

Goldco boasts multiple awards and certifications, including:

  • 5-time INC500 Winner
  • A+ BBB Rating
  • 2021 Company of The Year from the American Business Awards
  • Over 1,000 5-star reviews
  • AAA Customer Rated

Additionally, Goldco has been enthusiastically endorsed by multiple celebrities, most notably:

  • Sean Hannity, a leading talk show host in the United States, has publicly endorsed Goldco. Hannity has noted that Goldco is the precious metals company that he recommends to family, friends, and audience members.
  • Chuck Norris is a verified Goldco customer and publicly endorses the company. Goldco even offers an exclusive Chuck Norris silver coin for purchase.

Goldco’s Buy-Back Program

To give their customers further security, Goldco has a buy-back program that guarantees the highest price. This program can give customers peace of mind in knowing that when the time comes, they can sell back their precious metals at the highest market rate. 

Get Your Free Kit

What Does Goldco Offer?

While Goldco specializes in facilitating precious metals IRA purchases, the company does have very good relationships with custodians and IRA rollover specialists that can offer more services if you require. Ultimately, these services can be separated into the following six categories:

  • Gold individual retirement accounts
  • Silver individual retirement accounts
  • 401(k) rollovers
  • Simplified Employee Pension (SEP) plans
  • Simple IRA plans
  • Roth IRA and traditional IRA planning

Different customers have different requirements and preferences when it comes to investing.

What About Custodian and Depository Services?

A precious metals depository is a third-party storage facility. Depositories securely hold investors’ precious metals in individual accounts. The custodian is the person who manages the storage facility and is responsible for keeping customers’ precious metals investments safe.

Additionally, depositories are subject to IRS regulations. Investors aren’t allowed to use personal storage for precious metals held in an IRA. Precious metals depositories must also supply valuations to report to the IRS.

Although Goldco doesn’t offer its own depository or custodian services, the company can point you in the right direction. Goldco has relationships with reputable, IRS-compliant depositories and custodians across the United States and can connect you to one that fits your needs.

Equity Trust Company

Goldco’s top IRA custodian is the Equity Trust Company. Around since 1974, this company has been a trusted provider of custodian services for self-directed investment accounts, including precious metals.

Equity Trust works with some of the top depositories in the country to provide investors with safe storage and protection. These depositories include:

  • A-Mark Global Logistics, Loomis International
  • Delaware Depository
  • Brink’s
  • International Depository Services

Delaware Depository

Out of the U.S. depositories listed above, the Delaware Depository is Goldco’s favorite. This depository is stationed in Wilmington, Delaware and has Class 3 vaults, state-of-the-art security, and insurance from underwriters at Lloyd’s of London.

Delaware Depository typically charges $100 in fees annually for non-segregated storage.

Get Your Free Kit

How To Set Up a Silver or Gold IRA With Goldco

If you’re considering investing through Goldco, it’s crucial to understand the process that this company follows to set up a silver or gold IRA. Luckily, for either of these precious metals individual retirement accounts, Goldco requires you to complete just three steps:

  1. Open the IRA

The first step in protecting/diversifying your retirement savings is to open a precious metals IRA and get Goldco’s assistance to help facilitate that. To do this, you’ll need to sign an agreement, which ensures that you understand and agree to Goldco’s terms. This agreement also certifies your purchase.

  • Fund the IRA

Next, you’ll need to fund the IRA. You can do this by rolling over or transferring assets from a current, tax-advantaged retirement account, such as a 401(k), TSP, 403(b), savings, or even an IRA account that you might have with another company. When it comes to tax liabilities, you will have to consult with your accountant because if you are not over 59 ½ years old and you are still with your current employer, you might have to pay extra fees. That’s just one scenario. So you will just have to make sure you consult with tax advisor before you make any of those changes to make sure you don’t end up paying an exorbitant amount of money in taxes while getting your Gold IRA set up.

  • Purchase gold or silver

Lastly, you can purchase precious metals to include in your retirement account. You can choose from an expansive selection of precious metals available through Goldco. If they have your precious metals of choice in stock, they can send them to your chosen depository.

I know it might seem like a confusing/complicated process in the beginning, but the best part about working with Goldco is that their representatives help you with every step of the way. So you are never left wondering about what the next steps are.

Get Your Free Kit

Buying Silver and Gold Coins

If you want to invest in precious metals, but don’t want to open a precious metals IRA, you can purchase gold and silver coins through Goldco with cash. Goldco can either ship the coins to your chosen depository or send them straight to your address. Additionally, for non-IRA silver and gold, you’ll get free storage.

Goldco has connections with mints across the globe. This means that the company can help you track down the precise precious metals that you’re seeking. Some of the most common silver and gold coins that Goldco offers include:

  • Chuck Norris 1-ounce silver coin
  • 2021 1-ounce Silver American Eagle, Types 1 and 2
  • 2021 1-ounce Gold American Eagle, Types 1 and 2
  • Gold American Eagle Proof coin
  • Silver American Eagle Proof coin
  • Silver American Bald Eagle

These are just a few of the countless silver and gold coins available through Goldco.

Goldco Costs and Fees

Goldco has a compulsory minimum investment of $25,000. Additionally, like many precious metals insurance companies, the custodians and depositories that Goldco uses/recommends do impose some fees. Here’s just an estimate on how much they charge:

  • The annual IRA maintenance fee at Goldco is $80. If your account hits $100,000, this annual fee is raised by $50, to $130. It’s worth talking to your representative about this annual fee, as they may be able to waive it for you.
  • Custodian fees with Goldco vary depending on the facility/provider you choose.
  • The setup fee for an IRA at Goldco is $80 total: a $50 setup fee and a $30 fee for wiring funds into the account.
  • Goldco has a non-segregated annual storage fee of $100 and a segregated storage annual fee of $150.

Taxable accounts and transactions that don’t involve an IRA have a minimum investment of $5,000.

Get Your Free Kit

Gold and Silver Market Resources

Goldco provides informational resources about the precious metals market directly on its website. These resources include beginner’s guides to precious metals investing and recent news relating to the economy and investing.

Additionally, you can request a free kit from Goldco to learn more about protecting your wealth with precious metals investments. This kit includes a printed guide, audio guide, and video guide.

What Are Customers Saying About Goldco?

To paint a more detailed picture of what it’s like to invest through Goldco, let’s consider reviews on some of the top consumer review websites: Trustpilot and Consumer Affairs.

  • On Trustpilot, Goldco has earned an average rating of 4.7 out of 5 stars from over 600 reviews. This is considered excellent by Trustpilot’s ranking system. After reading many of these reviews, you’ll notice that many customers note how helpful, friendly, and responsive Goldco representatives are.
  • On Consumer Affairs, Goldco has an average rating of 4.8 out of 5 stars from over 600 reviews. From these reviews, you can gather that beginners to the world of precious metals investments are welcome at Goldco, and that the company’s representatives are happy to help with any and all questions. 

Get Your Free Kit

Who Should Consider Investing Through Goldco?

Finances are personal: There’s no one-size-fits-all when it comes to saving for retirement. With this in mind, Goldco won’t be the right fit for every investor. However, this precious metals company could be the right fit for you if:

  • You’re looking to secure your investment portfolio and retirement savings against inflation and the fluctuating stock market. Investors who are wary of the volatility of conventional paper assets can often benefit from the consistency and stability that many precious metals have to offer.
  • You’re interested in the benefits of owning a physical, tangible investment, rather than paper assets. Physical assets provide many investors with greater peace of mind. Just based on historical performance, we all know that precious metals tend to hold more value long term than some other assets.
  • You’re getting close to retirement and are afraid of the possibility of another financial crisis. If an economic downturn strikes, precious metals can get you through the slump.

Pros and Cons

Pros:

  • The Most Trusted brand in the Precious Metals industry.
  • Compared to its competitors, Goldco’s annual fees are the lowest.
  • For non-IRA silver and gold, customers get free storage.
  • Goldco has earned the highest possible ratings with the BBB and BCA.
  • Goldco earned the title “Company of the Year” in 2021 and 2022.
  • Over a thousand customers have given Goldco excellent ratings.
  • Goldco representatives have earned a reputation for providing exceptional customer service.
  • Goldco’s Highest BuyBack Guarantee offers peace of mind for investors when the time comes to sell.
  • Goldco focuses on education and helping each customer reach their unique financial goals.
  • None of their representatives or sales people use high pressure sales tactics.
  • Goldco is known to get their customers the best Gold & Silver deals in the industry.
  • They offer 100% Free IRA Rollover
  • A+ Better Business Bureau, AAA rating from Business Consumer Alliance

Cons:

  • Goldco’s required minimum investment ranges from $25,000.
  • You can’t establish an account with Goldco online – you’ll have to give them a call.
  • Goldco doesn’t display its fees directly on its website – you have to call the company and speak to a representative to get the exact numbers.
  • You can’t add any precious metals that you have previously bought through an IRA to Goldco. All of your precious metals must be purchased from Goldco to be added to your new IRA. It is not really a con if you think about it because that is standard practice with every IRA.

Get Your Free Kit

Deals

Goldco already has low fees when compared to other precious metals companies. But, as a bonus, Goldco also offers a variety of specials that customers can take advantage of for significant savings. Some of these deals include:

  • Customers who place qualifying orders that exceed $50,000 will get 5% back in cost-free metals. And customers who place a qualifying order of more than $100,000, they get  10% or $10,000 in free silver with their IRA.
  • They do run new deals every year so make sure you ask for them from their representative. Recently they were running a deal where customers who open accounts with $50,000 on the dot can save as much as $320 on fees and earn $2,500 in free metals (based on the types of metal that you purchase).

When you contact them, it is possible they might not be running the same deals. It is possible you might get an even better deal. So make sure you ask the representative that will be helping you.

In all cases though, you should always talk with your Goldco representatives and see if there is a way to get your fees waived. Because there are certain situations in which that may/could be possible.

Frequently Asked Questions

Which types of precious metals should I invest in?

For an IRA, silver and gold are the most widely trusted investments. Gold typically offers the benefit of outstanding stability, while silver is generally regarded to have greater potential for growth.

While they’re less popular, you can also invest in palladium and platinum. Palladium and platinum can both act as an inflation hedge and diversify your retirement portfolio.

Can I withdraw from my account with Goldco at any time?

You’re allowed to withdraw from a precious metals IRA whenever you want. However, if you make a withdrawal prior to reaching the age of 59 and a half, you’ll owe a 10% penalty. Any withdrawals made after this age aren’t subject to taxes. Additionally, according to the IRS regulations, you must begin taking minimum distributions when you hit age 72.

How long will it take to roll over funds from my current IRA to a precious metals IRA?

While it’s possible to complete the process of rolling over funds to your new precious metals IRA in just two weeks, this time period can fluctuate depending on the investor’s circumstances as well as market circumstances.

Will I have to pay taxes when I move my 401(k) or IRA to a precious metals IRA?

Unfortunately this is something that will depend on a case by case basis. So you will have to speak with your tax advisor to get more clarity on your specific situation and how much you would pay in taxes.

Does Goldco offer custodian and depository services?

While Goldco does facilitate the purchase of gold and silver, over the years they have established relationships with some of the best and the most trustworthy U.S. depositories. And they can make recommendations accordingly.

How can I contact a Goldco representative?

You can call Goldco or submit an online form to reach one of the company’s representatives. If you reach out to the company online, a Goldco representative will reach out to you within 24 hours of your form submission if your submission was done during business/call center hours.

If you opt to call Goldco, it’s best to stick to the company’s normal business hours. Monday through Thursday, Goldco is open from 8:00 am to 5:00 pm PST, Monday – Friday.

Get Your Free Kit

Our Judgment: Is Goldco Worth Investing In?

From all of the information provided in this Goldco review, we can confidently say that Goldco is a reputable and highly rated precious metals company. Although Goldco’s investment opportunities may not be right for everyone, people who are interested in investing in precious metals will benefit from Goldco’s low fees and highly praised customer service.

It’s also worth noting that Goldco is partnered with some of the best depositories and custodians in the country. So, while the company doesn’t provide direct custodian services, they make it easy to get top-notch storage and security for your precious metals investment.

Goldco’s representatives have been widely lauded as supportive, skilled, and willing to help. With this in mind, if you’re interested in Goldco but not quite ready to commit, you can always call the company and speak to a representative. You can get all of your questions answered over the phone.

Get Your Free Kit

Related Stories