Gold is known to become more valuable when the U.S. dollar and financial markets are down. Therefore, it is fast becoming a popular choice for IRAs to help shelter against huge hits to your portfolio in correlation to falling stock prices and more, which can quickly decrease its value.
Goldco is one of the most famous gold IRA companies in the US but is it really one of the best?
What we think of Goldco in a few words
Company name: Goldco
BBB grade: A+
Summary: Goldco is an impressive and trustworthy gold IRA company with plenty to offer and only a $25,000 initial investment, which is one of the lowest initial investments of all gold IRA companies.
Therefore, it definitely fits the bill as a good place to jump in and get your feet wet in gold IRAs, especially if you only have a little to invest. You can also choose between a gold or silver IRA or simply get silver as part of your gold IRA.
Our score: 4.5/5
Should you work with Goldco in 2024?
We understand how difficult it is to choose a reliable precious metals company to work with. For that reason, we created a list of gold IRA dealers that we think are best to avoid. Click on the button below to make sure Goldco isn’t one of them and discover our top 3 recommendations for this year.
Goldco is a precious metal IRA company that enables you to transfer or rollover funds from your existing retirement account to own gold bars and coins as part of your 401k, IRA, 403(b), TSP, savings, and more for increased stability of your long-term savings plan.
They Also Offer a Silver IRA
You could invest in a silver IRA, which also offers its share of diversity due to its growing investment demand and industrial use that could significantly increase its value.
Because it is such a rarely heard-about investment, the company’s precious metal specialists are also ready to provide you with all the information you need to help you understand your silver IRA.
Get Precious Metals Outside an IRA
The company also gives you the option to get gold and silver coins apart from an IRA account. And they will also still ship your them to the depository of your choice.
This way, you can also acquire fine silver and gold to protect or diversify your retirement assets but with your savings instead. And it’s also less paperwork.
They Work With Various Mints Around the World
Goldco boasts an established relationship with mints worldwide. Therefore, you won’t be limited in your gold and silver choices when you get them through their company.
This also means that you won’t have a problem locating IRS-approved assets for your retirement account as per the rules.
10+ Years Experience
The gold IRA company is also among the top businesses of its kind, with a 10-year record of assisting investors to diversify their IRA savings with gold and silver for a more secure future.
Goldco also has a reputation for high ethical standards, excellent customer service, and resourceful education.
They have also been featured in the Los Angeles Business Journal, INC 5000, Fox News, and more.
Highly Knowledgeable Specialists to Assist You
When you partner with Goldco, you will be partnered with a well-informed specialist who will assist you through the process of converting your tax-advantaged retirement account to a gold IRA from start to finish.
This helps take the guesswork out of doing it yourself, which helps make your gold and silver investment easy.
Meanwhile, the company’s best practices help ensure your transactions are seamless and secure.
Simple 3-Step Account Setup Process
They also promise to help make it easier to invest in gold or silver as part of your IRA and more by offering a simple 3-step account setup process.
A great informational kit to get started
You can also request a Gold IRA kit that includes a printed, visual, and audio guide to help you learn more about investing in precious metals before adding them to your portfolio.
In this case, it enables you to make more informed wealth-building decisions concerning your future that you can feel good about.
Goldco also provides loads of various learning resources via their website, including articles and news stories on economy insights, federal reserve, investing, social security, retirement planning, and more, which can be used throughout all phases of your gold IRA investment to help you both achieve and maintain success.
They also offer a beginner’s guide to a gold IRA to provide yet another way for novices to become more educated in purchasing gold for retirement, so they can do so without confusion if they decide to go that route.
Account holders can also rest assured that if at any time they choose to dispose of their holdings back to the company, they can do so via their program.
Thus, it helps eliminate the need for you or your custodian to spend time finding your own precious metals buyer, which can be a hassle.
They also guarantee to trade your assets back at the highest value, which also helps eliminate the need to look elsewhere to sell your gold and silver.
However, there are often costs associated with this type of transaction, so be prepared.
The company is also a winner of countless industry awards, including the American Business Awards Company of the Year Award, which it was presented two years in a row.
It also made Inc 5000’s prestigious list of Fastest Growing Private Companies for the last 6 years.
And the Los Angeles Business Journal has ranked Goldco as one of the top 25 fastest-growing private companies in its area.
What people think about Goldco?
The firm consistently ranks high with the most reputable consumer protection agencies and the like, including the Better Business Bureau, where it is rated A+, which is the top ranking given by the company.
It also holds an AAA with Consumer Affairs, whose goal is to provide consumers with the tools needed to make intelligent financial decisions.
The company has also earned over 2,000 5-star evaluations for its quality services.
Real customer testimonies
With tons of feedback under their belt, we decided to research further to see what users actually had to say. And after further searching their page, we came across several testimonies linked from various reputable consumer sites.
Each person is also verified by the site where they shared their post for more trust in what they had to share.
That said, one person on the Better Business Bureau site shares how professional, informative, and very one-on-one the company was when assisting them as a first-time customer and how helpful they were in assisting them with making the right choice, which made them feel confident in the company and their process.
Another satisfied user left a feedback on Trustpilot about how, out of all the gold IRA companies they spoke with about transferring their retirement plan, Goldco was the only one that actually made them feel comfortable enough to want to entrust their funds to them.
We also found someone on the Consumer Affairs site that had a lot to share about their experience with the firm, including how knowledgeable and helpful their team was and how smooth the process was of rolling over their 401k funds to Goldco’s gold or silver IRA account.
They also boasted about how quickly their funds were transferred and how fast their order was confirmed.
A few members also left feedback on Google, with one sharing how comfortable they felt with the team right from the start. They also shared how helpful the articles the company sent were and how their specialists’ attentiveness and understanding all helped them make a confident choice.
Another Google comments testifies to their confidence and trust in the company and how they feel they are really there to help and want to see you succeed. They, too, also attested to the company’s ability to ease their concerns whenever they had questions, as well as how smooth their process was from beginning to end.
These are just a few of the feedback that stood out to us. To read more of them, be sure to check out Goldco’s website. Or you can also visit various reputable online review sites to read what others have to say about the company to make sure Goldco isn’t a gold IRA scam.
You can also read our guide on how to avoid them here to learn more.
Costs and Minimum Investment
So with all that Goldco has to provide and the verified member opinions to back it up, you must be curious about their prices.
Well, though a breakdown of the company’s fees is not included on their site, they are very easy to get simply by contacting one of their agents.
In general, you can expect to pay around $50 to set up your precious metals IRA account, which is about the average cost across all such companies.
However, some may waive the account setup cost or simply not charge it at all based on various factors, such as if you are a new member or your initial investment exceeds a certain amount.
You should also expect to be charged an annual fee starting at around $80 for administration services.
There is also a fee to store your assets, which is about $100 a year for non-segregated storage. Opting for this option simply means your gold is stored among all the other gold contained in the depository.
Or they also have segregated storage, which means your gold is safely stored separately from all other gold stores in the facility. If you opt for this type of storage, it’ll cost you about $150 a year.
If you choose to sell your gold back to the company via its buyback program, you should also expect to pay associated costs.
Unlike Augusta Precious Metals, Goldco has a minimum investment of only $25,000 for a Gold or Silver IRA. However, you can also acquire their gold and silver products outside of an IRA for a minimum of $3,500.
New clients get the added advantage of having their account fees waived off for the first year when they open a gold IRA through the company.
Members that open a gold IRA above the required minimum of $50,000 will also receive complimentary metals worth $2,500.
If you acquire your gold or silver direct, there is also no cost to store your precious metals.
How to Get in Touch With The Company?
Goldco offers various ways to contact them. For instance, you can simply call them using the number they have posted at the top of their site, or you can hit the contact us button, also located at the top of their page, and fill out the contact form to have a member of their team contact you.
They also have a live chat feature on their site to make your inquiries.
The company is available Monday through Friday from 7 am and 3 pm.
The Account Setup Process
Once you are ready to set up your account, the specialists will walk you through the setup.
If you have an existing IRA that you want to roll over to their gold IRA, their experienced team will also help with the process and educate you on what to expect.
Otherwise, you can open a self-directed gold IRA using your savings.
When opening a new account, you will also need to provide them with various personal information, including your social security number and current retirement account details, so they can help get the ball rolling to transfer your funds.
In the meantime, you can explore the many learning resources available on their site to begin thinking about which gold and silver options you want to add to your account.
They will also most likely send you an email that includes various resources on precious metals to help guide you with your choices.
Pros about Goldco:
- Goldco is an experienced, long-standing company with a 10+ year record of helping investors open a gold IRA.
- Users can choose between a gold IRA or a silver IRA.
- You can put both gold and silver in your IRA.
- They have an easy account setup.
- Members have access to gold and silver products from mints worldwide to ensure they find exactly what they want.
- You are paired with a knowledgeable specialist to assist you throughout the process.
- The company has a buyback program, and it guarantees the highest value.
- They provide tons of resources and guides to help educate you to make informed choices that you can live with.
- It is an award-winning company that has also appeared on Fortune, Washington Examiner, Fox News, and more.
Cons about this firm:
- They do not state if they work with an outside party to ensure compliance.
- It doesn’t say if the depositories they work with are private, which helps protect against creditors and more.
- their site doesn’t include an inflation and retirement savings calculator to help you calculate how much you need to save for retirement.
Storage and Non-IRA Options
We also like that they provide complimentary storage when you secure their gold or coins directly and that you also have the option to get precious metals outside an IRA.
Good Ratings and Testimonies
As we saw from the countless satisfied testimonies, they also have great customer service, which is so important when investing such a large amount and or entering a new market from which you know little to nothing about to help ensure you make an informed choice you are confident with.
Get IRA-Approved Gold and Silver From the Mint of Your Choice
They also work with various mints across the world, so you are not limited to just a few coins or bullion when building your IRA.
Their precious metals are also IRA-approved, so you can feel confident that your account won’t encounter issues later.
Their custodians are also sourced from all major companies, so you are also not limited in who you work with.
Not Enough Depository Information on Their Website
We just wish the company provided more information about the depositories they work with on their site so that you know if they offer a facility near you and if their depositories are private.
However, the organization is very transparent in its information and costs, so you should have no problem finding out this information when you call them.
If you still don’t know which gold IRA company to choose, we strongly suggest you read our side by side comparison about Goldco versus Augusta Precious Metals.
Would you rather invest in silver?