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Last Updated on April 22, 2023
Goldco, a leading precious metals dealer and IRA (Individual Retirement Account) provider, has grown in popularity as an investment option for those seeking to protect their wealth with tangible assets.
This review will take an in-depth look at the company, its services, and its reputation, providing insight into whether Goldco is a suitable choice for your investment needs.
In this Goldco review we will cover various aspects of the company, including its pros and cons, services offered, pricing and fees, user reviews, and more.
Before we get started, if you interested in learning more about investing in precious metals, and the easy 3-step process for opening a gold IRA, get Goldco’s free investing kit below:
Goldco Pros and Cons
- Specializes in gold and silver IRAs, providing expertise in this niche
- Highly rated by customers and has a strong reputation within the industry
- Offers a variety of precious metals options for investment
- Provides a knowledgeable and helpful customer service team
- Offers an incentive in the form of free silver when opening an IRA account
- Limited to gold and silver investments, offering less diversification
- Some customers may find the account setup process lengthy and complicated
- May not be ideal for those looking for short-term or speculative investments
What is Goldco Precious Metals?
Goldco has some of the highest marks across the industry for customer service and integrity, including an A+ Rating from the Better Business Bureau.
- A+ Rating from Better Business Bureau
- AAA Rating from Business Consumer Alliance
- Get up to $10,000 in Free Silver with Qualifying Purchase
- Easy 3-Step Process to Get Started
"The crew at GoldCo are professional and accommodating, extremely helpful and very easy to work with. My service rep, Tony Pino, was always available and willing to answer/explian any questions. Highly recommend them." -Mark G.
Goldco is a U.S.-based company specializing in precious metals investments and retirement solutions. Founded in 2006 by Trevor Gerszt, Goldco focuses on helping clients diversify their investment portfolios with gold and silver assets.
The company offers various services, including gold and silver IRAs, direct purchases of precious metals, and educational resources for clients.
What Services Do They Offer?
Goldco provides several services to cater to clients’ investment needs:
- Precious Metals IRA: Goldco specializes in helping clients set up gold and silver IRAs, which are self-directed retirement accounts that hold precious metals as investment assets. These IRAs provide a tax-advantaged way to invest in gold and silver, helping clients protect their wealth from economic uncertainties and inflation.
- Direct Precious Metals Purchases: Goldco allows clients to purchase gold and silver coins and bars directly, which can be shipped to their homes or stored in a secure vault.
- Educational Resources: Goldco offers educational resources such as guides, webinars, and blog posts to help clients make informed decisions about their investments.
Precious Metals IRA
A precious metals IRA is a type of self-directed IRA that allows investors to hold physical gold, silver, platinum, or palladium as investment assets.
These accounts offer the same tax advantages as traditional IRAs, but with the added benefit of diversifying your portfolio with tangible assets.
Goldco specializes in gold and silver IRAs, offering a range of approved coins and bars for investment.
How Their Gold IRA Process Works
Setting up a gold or silver IRA with Goldco involves the following steps:
- Request a free Goldco IRA guide: Goldco provides a comprehensive guide that explains the benefits of a precious metals IRA and how to set up an account.
- Contact Goldco: Get in touch with a Goldco IRA specialist who will guide you through the account setup process.
- Open a self-directed IRA: Goldco will help you choose an IRS-approved custodian to set up your self-directed IRA.
- Fund your account: Transfer funds from your existing retirement account or make a direct contribution to your new self-directed IRA.
- Choose your precious metals: Work with a Goldco specialist to select the gold and silver products that best fit your investment strategy.
- Store your metals: Goldco will help you arrange for the secure storage of your precious metals in an approved depository.
Pricing and Fees
Goldco’s fees for setting up and managing a precious metals IRA include:
- One-time account setup fee: $50
- Annual maintenance fee: $80
- Annual storage fee: $100 (segregated storage) or $150 (allocated storage)
These fees are relatively competitive within the industry. It is essential to note that precious metals IRA custodians typically charge additional fees for transactions, such as buying or selling metals or transferring assets.
Is a Precious Metals IRA a Smart Investment?
A precious metals IRA can be a smart investment for certain investors, depending on their financial goals, risk tolerance, and investment strategy. Here are some factors to consider when deciding whether a precious metals IRA is right for you:
- Diversification: A precious metals IRA can help diversify your investment portfolio by adding tangible assets like gold, silver, platinum, or palladium. These assets tend to have a low correlation with traditional assets like stocks and bonds, which may help reduce overall portfolio risk.
- Inflation hedge: Precious metals, particularly gold and silver, are often viewed as a hedge against inflation. As the value of paper currencies decreases over time due to inflation, precious metals tend to retain their purchasing power, protecting investors’ wealth.
- Economic uncertainty: Precious metals are considered a safe-haven investment during times of economic uncertainty or market volatility. Investors often turn to gold and silver as a store of value when other investments are underperforming.
- Long-term perspective: A precious metals IRA is generally more suitable for investors with a long-term investment horizon, as the value of precious metals can fluctuate significantly over short periods. Investors should be prepared to hold these assets for several years to benefit from their potential appreciation.
However, it is essential to remember that a precious metals IRA may not be suitable for everyone. Some of the potential drawbacks include:
- Limited liquidity: While precious metals can be sold relatively quickly, the process of liquidating a precious metals IRA can be more complex and time-consuming compared to traditional IRAs holding financial assets like stocks or bonds.
- Storage and insurance costs: Precious metals held in an IRA must be stored in an approved depository, which typically involves storage and insurance fees. These costs can add up over time and may offset some of the potential gains from investing in precious metals.
- No guarantee of returns: Like any investment, there is no guarantee that the value of precious metals will increase over time. Investors should carefully consider their risk tolerance and investment objectives before investing in a precious metals IRA.
Ultimately, whether a precious metals IRA is a smart investment for you depends on your unique financial situation and investment goals.
It’s essential to consult with a financial advisor before making any significant investment decisions to ensure that a precious metals IRA aligns with your overall investment strategy.
BBB Rating and User Reviews
Goldco has an A+ rating from the Better Business Bureau (BBB), indicating a high level of customer satisfaction and a commitment to resolving any issues that may arise.
The company also boasts a 4.8 out of 5-star rating on Trustpilot, with numerous positive reviews praising the company’s customer service, knowledge, and assistance throughout the investment process.
While the majority of Goldco’s customer reviews are positive, some clients have expressed concerns about the lengthy account setup process or confusion regarding specific fees.
However, these complaints seem to be isolated incidents rather than systematic issues with the company.
There is no public record of any significant lawsuits against Goldco at the time of writing this review. The company’s strong reputation and commitment to customer satisfaction have helped it maintain a clean legal record.
Does Goldco Offer Free Silver?
Yes, Goldco offers an incentive program for clients who open a new precious metals IRA account.
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Under this program, Goldco provides up to $10,000 worth of free silver, depending on the amount invested in the new IRA. This offer serves as an additional benefit for clients looking to diversify their portfolios with precious metals investments.
Learn more about Goldco’s free silver offering here.
Who Owns Goldco?
Goldco was founded by Trevor Gerszt in 2006. Trevor Gerszt is the CEO and owner of the company, overseeing its operations and ensuring that it continues to provide high-quality services and products to clients interested in precious metals investments.
With his leadership, Goldco has grown to become a respected and trusted player in the gold and silver IRA market.
Is Goldco Legit?
Yes, Goldco is a legitimate precious metals investment company with a strong reputation in the industry. As we’ve already outlined — Founded in 2006, Goldco specializes in gold and silver IRAs and direct purchases of precious metals. The company has an A+ rating from the Better Business Bureau (BBB) and a 4.8 out of 5-star rating on Trustpilot, reflecting a high level of customer satisfaction.
Goldco is also a member of several industry associations, including the American Numismatic Association (ANA), Industry Council for Tangible Assets (ICTA), and Professional Numismatists Guild (PNG), which further validates its credibility in the precious metals market.
While no investment is without risk, Goldco’s strong reputation and transparent business practices make it a legitimate and reliable choice for investors seeking to diversify their portfolios with precious metals.
Goldco is a reputable and reliable precious metals investment company that specializes in gold and silver IRAs. Its strong industry reputation, knowledgeable customer service team, and range of precious metals products make it an attractive option for those looking to protect their wealth with tangible assets.
The company offers various services, including setting up precious metals IRAs, direct purchases of gold and silver, and providing educational resources to help clients make informed investment decisions. While some clients have experienced minor issues with the account setup process or fees, the overall feedback on Goldco is overwhelmingly positive.
With competitive pricing, a strong BBB rating, and an incentive program for new IRA clients, Goldco is worth considering for those interested in diversifying their investment portfolios with precious metals.
However, it is crucial to understand that investing in gold and silver may not be suitable for everyone, particularly those looking for short-term or speculative investments. Always consult with a financial advisor before making any significant investment decisions.