My Two Cents: The Goldco Company offers a variety of brokerage services focused on precious metals IRAs. Since being established, the company has continued to grow and after carefully analyzing the competition, I've given it my top rating and full endorsement. Learn more here.
Goldco reviews have been spectacular from the consumer side, so I decided to compare them against other gold ira companies. To my amazement, after I unpeeled every layer of information I could get my hands on, I ended up finding out that this company is the best one in the space. Today I’m here to share with you my full GoldCo review so that you can understand everything you need to know not only about the company itself, but also about investing in precious metals for your retirement portfolio as well.
GoldCo Review – Why Do I Feel They Are The Best?
The company itself offers a variety of services for investors to take advantage of. While there’s the obvious of buying and selling the physical precious metals that it has available, there are a few others that people should be aware of.
For example, the firm also offers a market system. As Goldco testimonials suggest, this is available to investors as soon as they become involved with the organization, and is of quite a high-quality. However, there are a variety of things that people should be aware of before doing so.
This is the case across any precious metals company, give the nature of their business. Investing can be quite a tricky and overwhelming process, which means that information can be key when making a decision.
Founded in 2006 and based in Woodland Hills, California, Goldco offers self-directed precious metal IRAs as an alternative to traditional investments. These IRAs are funded by platinum, palladium, silver, gold, or a combination of each.
GoldCo Partners Up With Ron Paul
In 2017, the company partnered up with Ron Paul in a joint effort to educate investors on the importance of protecting your IRA and 401k accounts. Read the Story on NewsWire.
The company takes advantage of the Taxpayer Relief Act of 1997, which made investing in specific bullions types legal. As a result of this, there has been a rush of companies sprouting up in the niche. This has been a net positive for people looking to invest in precious metals, as there’s a wealth of options to choose from.
Goldco is one of the more notable ones for a variety of ways. Prominent among these is that it offers more than just the buying and selling of precious metals IRAs. Instead, they offer a few extra services that the majority of investors may want to take advantage of.
For example, the firm works with a variety of custodian companies to rollover services to new customers. This should allow clients to transfer their precious metals IRAs from another company to Goldco relatively easily.
While many Goldco testimonials note that the company is quite high-quality, there are a variety of things that investors should know before working with the firm. Since investing in an IRA will require a significant amount of research and consideration, it’s working digging into the firm in-depth.
Investing With Goldco
Investing in precious metals IRAs has become an increasingly popular option over the past few years, with this being driven by a variety of factors. One of the most notable is that they’re not as volatile as stocks and bonds, which should be quite a noticeable benefit. These are also tangible items to invest in, which could be an attractive option for many people.
Goldco offers a wide range of brokerage services in the niche, with the company operating within all Internal Revenue Service (IRS) guidelines. Alongside this, the firm buys back the precious metals or allows clients to sell them on the market once they begin using their distribution methods.
While the company doesn’t offer any custodian or storage solutions, it does work with a broad range of other firms that do. As such, they should be able to help the majority of customers find a storage or custodian facility that’s right for their needs.
Throughout the past several years, the company has been named one of the fastest-growing companies in its niche, which has been driven by a variety of qualities.
- Significant amount of experience in the industry.
- Variety of precious metals-backed IRAs.
- Positive reputation in the industry.
- Doesn’t offer custodian or storage solutions.
Goldco Reviews And Complaints
Since the company was established, Goldco reviews have typically been positive, which is the main reason I decided to check them out as I did many other companies in the space. The majority of this has been focused on the high-quality service that it offers, as well as the quality of the products that it provides. This should mean that potential customers will be able to get a high-quality service with every interaction at the company.
However, there have been a few negative reviews of the firm over its history. While this might be a bad thing, it looks as though much of this was driven by a misunderstanding on a client’s behalf. As such, these bad reviews should be taken with a pinch of salt. Every major company has negative reviews, as there are always a few “tough cookies” out there who never seem to be satisfied.
There is quite a large range of services that clients will be able to take advantage of at Goldco, with these being split across several categories. These include:
- Gold IRA
- Silver IRA
- 401(k) Rollover
- Traditional and Roth IRA Planning
- SEP IRA Planning, and
- Simple IRA Planning
This should mean that customers will be able to take advantage of a broad range of services depending on their needs. However, the company does lack any storage or custodian services, which could be a notable drawback for many people. Despite this, they do recommend a variety of trustworthy options for this, which could be worth looking into.
Goldco doesn’t list the costs that it charges, largely because there are many variables that come into play.
To get exact rates, just call them at 1-877-514-2567. Or Visit GoldCo Online.
I've found their reps to be very informative and not pushy at all, which is very refreshing in this industry and let's be honest, in any environment where someone is brokering financial instruments that's a great sign of a solid company!
What I can say from first hand knowledge is that the recommended minimum is $25,000.
Goldco will reimburse the cost of storage for a year. However, this will come in the form of like-value silver being shipped to the agreed upon storage unit. There is also a charge of $175 annually. This shouldn’t increase until you hit $100,000 in investment, in which case it rises to $225. When compared to industry storage prices, this is very fair and actually a deal compared to many of the other companies.
How To Start A Goldco Precious Metals IRA
Setting up a precious metals IRA with Goldco is quite simple, although it may be slightly time-consuming. You’ll be able to do this either online or over the phone. However, you’ll need personal identifying information on-hand when you’re doing so, such as a social security number.
During the process, Goldco will give you a guide to the precious metal IRAs that are available to you, which should help you make a decision. They should also walk you through the process as much as you need.
Naturally, you most likely have questions about Goldco and IRA investing with precious metals in general. Years back when I first found out that this type of retirement strategy was viable, I probably had about 20 questions I fired at every broker from various companies I interviewed!
However, this is entirely natural, and even more comforting, to me, was the patience exercised by many of the reps at companies fielding my queries - namely with GoldCo.
Most questions are in fact quite routine to them in 2020!
I like to ask the following, (even though I outlined all of these questions above - just do so for full transparency.)
All of this information should be readily available, regardless of the company you’re thinking of. As such, you shouldn’t have to spend much time finding anything out, which the majority of us should find relatively appealing.
This will then allow you to develop a fully-formed idea of what the brokerage company offers and whether they’re the right precious metals IRA firm for your needs. However, it’s also worth noting that you should spend a significant amount of time considering each area before you decide.
There are quite a few prominent questions that you should ask any firm that you’re considering investing with. Goldco, in particular, is quite transparent with their answers, which is a beneficial trait. There are a few Q&As that may be more important than others, which is why they’re worth looking at.
Can The Precious Metals Be Coins Or Are They Limited To Bars?
Quite a large number of people may want to take advantage of both bars and coins for their IRS. While there should be a variety of options for this, it’s much more limited than you might have thought. This is because only certain coins are IRS-approved for IRAs, which drastically limits what you can and cannot take advantage of.
Alongside this is the fact that there are some restrictions on bars and bullions. While this isn’t as limited as precious metal coins may be, there are still a few of them that you might not be able to take advantage of. As such, you should need to be aware of these guidelines before trying to invest in any precious metal IRAs.
All of these should be available from the IRS website.
Can I Choose My Own Storage Company?
While Goldco has a variety of custodian and storage companies that it works with, this doesn’t mean that you’ll be restricted in your options. Instead, you should be able to use almost any storage company you want to. Despite this, the firm does have a variety of recommendations, including the Self Directed IRA and Equity Institutional custodian firms.
Alongside this, it recommends Sterling Trust for your storage needs. While each of these should be of a relatively high-quality, it’s worth looking into them before you make your decision.
Can I Keep My Precious Metals At Home?
Quite a large number of people would want to keep their IRA precious metals at home. However, this can’t be the case, as the IRS forbids in. Typically, anybody with one of these will need to use an approved non-bank trustee. Alternatively, they can use a bank that operates within IRS guidelines and restricts access to the precious metals.
This is done to make sure that the exact precious metals that you purchase are the ones that you take advantage of in the future. Like a traditional IRA, access to precious metals IRAs has to be restricted in specific ways. The majority of this is to make sure that all deposit and disbursement laws are met.
Are The Precious Metal’s Value Guaranteed?
The value of precious metals is never guaranteed, and this can fluctuate quite significantly. This is an aspect that’s outside of many company’s control. However, the value of the precious metals tends to stay relatively stable over time, which any fluctuations being relatively minor. This should mean that there might not be much to worry about with these types of IRA.
When Will I Be Eligible For My Goldco Gold IRA?
You should be able to start taking advantage of your Gold IRA from age 59 and a half. Since the IRS dictates this, it may be eligible for change at some point or another, although it shouldn’t be the case at any point. As such, there should be a set date for when you’ll be able to penalty-free distributions from your account.
How Long Does It Take To Rollover A Traditional IRA Into A Gold IRA
This is probably the first question that many of us will have. Typically, this will be much quicker than some may have anticipated and usually takes two weeks, although this can vary somewhat. Much of this is based on specific circumstances, so you may need to speak to someone at Goldco to determine this accurately.
Your retirement portfolio is something that you’ll want to think about well before you get to your golden years. I, for one, started thinking about it in my mid 30's and wish I would have been told to do so, earlier.
Goldco Company is one of the more noteworthy brands out there in a very littered, competitive, and confusing space. As you can tell with all of the time and detail I put into this website, I'm a "get down to brass tacks" type of guy. I spent a lot of energy in coming to this recommendation, and I put my reputation on the line for very few people, so don't take this Goldco review with a grain of salt.
Goldco has over a decade of experience in the space, so there’s a large amount of expertise to rely on and a lot of comfort knowing that in a rather new space, they are seasoned pro's.
Goldco works to simplify the logistics and overall paperwork, which is refreshing. Other companies left me confused, befuddled, and untrusting of the process.
Though each of the FAQs above should be relatively comprehensive, as I put a TON of time into them, it’s natural to have questions. The experienced staff at Goldco should be able to answer these quickly and in a simple way, regardless of how complex the question might be. Contact them below and I'm sure you'll be just as pleased as I have been with their service.
GoldCo Phone #: 1-877-514-2567
Or Online: Official GoldCo Website