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If there is one thing that is certain in this capitalistic world, it’s that the next crash is coming! Amid the Ukraine-Russia war and the situation in Taiwan, you don’t want to rely heavily on equities, bonds, or mutual funds, which depend heavily on dollars.
If you want to protect your lifelong savings from a volatile stock market and out-of-control government spending, precious metals investment is the way to go, as it is independent of the dollar. You don’t have to be a financial maestro to understand that.
The cost of gold and silver is not negatively affected by the national economic situation. In fact, during times of crisis, the price often rises.
That’s why, as investment experts, I suggest you consider a business like Goldco as a tried-and-true investment that may give stability to your portfolio.
- Company of the Year 2021
- Given AAA rating from the Business Consumer Alliance
- Amazingly positive customer Reviews
- Trustworthy and proven track record
- Offer direct sale of Gold & Silver
An Overview Of Goldco
Goldco is a national leader in retirement planning and gold IRA rollovers. It is a precious metals IRA company that allows investors to hold gold, silver, and other precious metals in their retirement accounts.
Trevor Gerszt established Goldco in 2006, and since then it has become one of the largest and most well-known precious metals IRA companies in the United States.
With over a decade of experience, Goldco helps clients protect their retirement savings and take advantage of the benefits of gold ownership, including tax advantages and wealth protection.
When Gerszt founded Goldco, his goal was to provide a solution that would allow even novice clients to set up their own self-drive IRA accounts and buy gold and silver assets.
Goldco offers a risk-averse business strategy, so if you’re looking for a company to invest in gold and other precious metals, Goldco is an excellent option.
What Does Goldco Offer?
Goldco’s Precious Metals IRAs are mostly made up of Silver and Gold IRAs. You need to understand that Goldco solely functions as a broker for purchasing and selling precious metals. They’ll only help you to acquire IRS-approved coins and bullion for your Precious Metals IRAs.
They won’t handle your IRA account’s custodianship. However, they promise to help complete the paperwork and coordinate the purchases with the storage facility. Additionally, they may help you convert your present retirement funds to a Precious Metals IRA.
Products And Services
Goldco’s products and services can be divided into three categories:
- Gold Individual Retirement Accounts: Goldco provides guidance on setting up a Gold IRA and suggests metals to invest in. Some of Goldco’s IRA-approved gold coins are American Eagle, Australian Striped Marlin, American Eagle Proof, Liberty Coin, Maple Leaf, American Gold Buffalo, American Bald Eagle, Military Guinea, British Lunar Series, Australia Saltwater Crocodile, and Gold Bars.
- Silver Individual Retirement Accounts: Goldco provides guidance on setting up a Silver IRA and information on which silver coins are best to invest in getting the highest return. Type 1 and 2 Silver American Eagle and Chuck Norris 1-ounce silver coins are the most common silver coins suggested by Goldco. They also make Silver Bars available.
- 401(k) Rollovers: Goldco helps you convert your traditional or alternative IRA (Individual Retirement Account) into a Precious Metals IRA.
In addition to gold IRAs and silver IRAs, you may invest in:
- Simplified Employee Pension (SEP) Plans: Goldco responds to questions about SEP IRA eligibility criteria and contribution limits.
- Simple IRA Plans: Goldco explains how to set up a Simple IRA and the guidelines of the Simple silver IRA and Simple gold IRA.
- Traditional-Based IRA & Roth-Based IRA: Goldco offers resources and information on the distinctions between a Traditional and a Roth IRA, as well as help in rolling them over to a Precious Metals IRA.
How Do Goldco Gold And Precious Metal IRAs Work?
Goldco’s gold IRAs provide greater security than the U.S. Dollar, which has lost over 98 percent of its purchasing power since 1971. Meanwhile, gold, silver, or precious metals’ purchasing power has remained mostly consistent.
If you understand the value of precious metals, holding them in an IRA can be a wise choice. According to historic trends, your IRA may outperform the Dow Jones Industrial Average and the S&P 500, according to Goldco.
If you’re considering investing with a silver or gold IRA to get such returns, it’s important to understand the steps to set them up. Fortunately, you need to complete only three easy steps for any of the precious metals’ IRAs:
Step-1: Open Your First Precious Metal IRA With Goldco
The first step in safeguarding and diversifying your retirement funds is to create a precious metals IRA. You need to sign a contract with Goldco to purchase precious metals.
Once you’re done, Goldco will ask you to sign a new form acknowledging and accepting your agreement to its business terms.
That’s all you need to start an IRA. Don’t worry if you don’t completely understand this; Goldco will appoint one of its representatives to this contract. You can ask for help anytime you need it.
Step-2: Fund Your Precious Metal IRA
Next, you need to fund your Goldco precious metal IRA after which you can start buying precious metals like gold and silver.
Most gold and silver IRAs require users to move money from their retirement accounts, TSP accounts, 401(k), or 403(b) accounts to their precious metals IRAs since they are self-directed accounts.
However, you should speak with your accountant about your tax obligations since you could have to pay more based on your circumstances— for example, if you are under 59.5 years old and still employed..
To avoid spending excessive amounts of money in taxes when setting up your Gold IRA, you must check with a tax adviser before making any of those modifications.
Step-3: Invest In Your Preferred Gold Or Silver
Finally, you may add precious metals to your retirement account by buying gold with IRA funds. Goldco offers a wide range of precious metals from which you may pick. If they have your preferred precious metals in stock, they will ship them to your chosen depository.
The most excellent thing about dealing with Goldco is that their staff assists you at every stage of the procedure. You are never left in the dark about what comes next.
At this point, we bet you want to know about Goldco’s transaction minimum and fees.
Goldco Account Minimums, Fees, And Promotions
The fees Goldco charges aren’t stated on their website because many variables come into play while investing with Goldco. These include storage and precious metal types.
However, as we have dealt with the company before, we know firsthand about the fees they charge.
Goldco charges lower yearly fees for their precious metal IRAs than other gold IRA providers (like Augusta or Regal Assets) in the market.
You must pay an annual IRA maintenance charge of $80 as well as storage costs. The yearly fee for non-segregated storage (Delaware Depository / Brinks Salt Lake City) is $100, while the annual fee for segregated storage (IDS Texas) is $150.
Besides yearly fees, you also need to pay one-time fees. The startup price for an IRA is $50, and there is a $30 fee for wire transfers.
Precious Metals IRA Fees
|One Time/Flat Fees:||Amount:|
|IRA Set-Up Fee||$50.00|
|Wire Transfer Fee||$30.00|
|Storage Fee (Segregated)||$150.00|
A Goldco IRA with non-segregated storage thus costs $260 for the first year (setup charge, wire fee, yearly fee, and first year of storage) and $180 for each successive year, assuming no further wires.
Regular taxable accounts at Goldco (cash sales) have no fees, unlike a gold IRA. There are no setup fees, yearly fees, or storage charges.
Non-IRA Transaction Fees
|One Time Fee||$0.00|
Goldco Investment Minimums
Additionally, an IRA must have a minimum opening amount of $25,000 to qualify (although in certain instances, they have accepted deposits of as little as $15,000). The minimum investment required for recurring precious metals purchases or cash transactions is $3,500.
Minimum Purchase Required
|Precious Metal IRAs||$25,000.00|
There are also insurance fees. These are optional, but they are recommended to insure your gold against loss or damage. The cost of insurance will depend on the value of your holdings.
Overall, the costs and fees associated with Goldco are very reasonable. They are designed to be as low as possible to maximize profits and keep your money where it belongs (your pocket) when you buy or sell gold.
Goldco provides a few deals that clients may take advantage of to save money. A few of these current deals include:
- Customers who conduct qualified purchases that total more than $50,000 will get 5% back in metals, free of charge. Additionally, clients who make a qualified transaction worth more than $100,000 get 10% in complementary silver when they use their IRA.
- Make sure you ask for fresh discounts from their representative since they run new ones yearly. Recent Offer: Customers who register accounts with $50,000 upfront will get $2,500 in free metals and up to $320 in cost savings (based on the types of metal you purchase).
They might not be running the exact offers when you contact them. But you may be able to negotiate an even better price. So, ask your representative about promotional deals before funding your IRA.
One of the leaders in the industry, Goldco, has a tremendous amount of experience.
Over a decade of helping customers manage and invest, they set the bar regarding retirement portfolios.
Partnering with individuals, they help expand and diversify their investments, whether they be coins or bars.
Goldco Pros And Cons: What We Do And Don’t Like About Goldco Precious Metal IRA
Goldco offers a variety of advantages to customers who want to convert their retirement funds into gold IRA accounts.
On the other hand, the firm does have some shortcomings. You need to consider both to start investing with Goldco.
- Fees at Goldco are lower than the competitors’ average.
- New investors can take advantage of promotional discounts.
- Informative resources are free for both new and old customers.
- Their onboarding process is straightforward, simple, and stress-free.
- There are no transaction fees for non-IRA precious metals.
- They have the finest buyback program with the best price.
- Their executives have long investing experience.
- A gold IRA at Goldco offers you the same tax advantages as a standard IRA.
- A Goldco gold or silver IRA takes no guessing; your account administrator offers you a portfolio of current coins and bars, and you pick what you want to purchase.
- Their customer service and the whole setup process are highly rated by customers.
- Goldco fees are not mentioned on their website. So, if the costs change during your time of the deal, there is no way to know until you set up your IRA.
- Your existing precious metals cannot be added to your Goldco portfolio. Any assets for your Goldco IRA must be bought via Goldco.
- There isn't a list of available coins and bars on the website.
- There is no way to open your account online.
- The recommended minimum deposit amount of $25000 is much higher than the competitors’ $5000.
- No palladium and platinum coins are available.
What Makes Goldco Different?
Goldco has much to offer against its competitors, which is why they’re so highly regarded in the precious metal IRA industry. Here are some of the features that set them apart:
1. Strong Focus On Customer Service
Goldco has always emphasized growing and maintaining its clientele. They provide many first-time customer benefits, such as eliminating all first-year fees and a 10% refund on all silver purchases.
The company consistently delivers a high level of customer service by ensuring that a client has access to helpful information and advice when needed.
2. Variety Of Investment Products
When investors open IRA accounts with Goldco, there is a wide range of gold products available to buy for their portfolios, including gold bars, coins, and bullion from all around the world.
Goldco requires their products to have a minimum fineness of .995 percent to be eligible for inclusion in the gold IRA package.
This requirement ensures that the products offer the best value and enables the company to provide one of the best buyback guarantees in the market.
3. Best Buyback Program
Goldco offers a very high price on their buyback program. It eliminates the need to seek cunning coin merchants who provide lowball prices for your gold or silver coins.
You may sell the actual coins or bars you purchased from Goldco back to the firm when it’s time to liquidate your gold IRA, or if you want to get rid of them.
Just ask the assigned representative for help, and all you have to do is wait for the payment! However, you can also turn down the offer made by the company at any time.
4. Rollover Services
Rolling over IRA accounts is sometimes challenging for investors who know little about this subject. Goldco provides this service to investors who wish to convert intangible assets into tangible ones.
Goldco has a working connection with various depository and storage experts, including Brinks and Delaware Depository. Their account representatives can easily take care of 401k plans by working with custodians from other investment companies.
5. Specialists In IRAs On Call
Goldco stands out above all due to the accessibility of its IRA experts. At the start of the procedure, each client is allocated an expert who works with them through the whole process.
In addition to being a subject matter expert, this specialist is dedicated to the client’s interests and is accessible to respond to queries, outline the procedure, and allay any worries.
They are not just salesmen who only want to close the deal and receive commissions.
6. Free Informative Resources
Goldco provides informative materials directly on its website. You can access these resources anytime for free. They’re great for beginner investors and those who want to remain updated with the most current news on the economy and investment.
You may also ask Goldco for a free kit to learn more about how precious metals investments might help you safeguard your money. The set includes printed copies and audio and video guides.
- Annual Fee: $180; $80 maintenance and $100 storage fee
- Minimum Investment: $50,000
- Promotion: Can waive fees depending on the investment amount
- Types of Services: Gold and Silver IRA & Gold and Silver cash Purchases
- Support 401(K): Yes
- Crypto Offered: No
- Annual Fee: $215, which includes custodial fees and vault fees
- Minimum Investment: $5,000
- Promotion: Fees waived 1st year & 3% commissions on sales
- Types of Services: Regal IRA, Precious Metals & Crypto
- Support 401(K): Yes
- Crypto Offered: Yes
Who Should Consider Goldco IRAs?
Goldco is the best match for:
1. People Who Are New To Investing In Precious Metals
Goldco is a good option for people who don’t know much about precious metal IRAs and want to engage with a business that will educate them and treat them with respect.
2. Seniors Who Want To Diversify Their Holdings
Investors have a wide range of IRA-approved gold items to choose from after a Goldco Gold IRA is set up. The precious metals are of certified quality and originate from around the globe.
3. People Who Like To Own Tangible Assets
Unlike investments in U.S. Dollars (which have no backing whatsoever) or the volatile stock market, precious metals have been of consistent value for hundreds of years and will remain so for the foreseeable future.
4. People Who Want To Save Their Funds Against A Crisis
Many reliable investors believe that the United States is about to see one of its worst financial catastrophes due to the devaluing of the U.S. Dollar; in fact, two-thirds of CEOs see a recession on the horizon.
What Do People Say About Goldco?
Goldco has been a Better Business Bureau (BBB) member since 2011 and has a perfect A+ rating.
Business Consumer Alliance (BCA) has rated Goldco a perfect AAA (highest rating).
Additionally, TrustPilot, Trust Link, Consumer Alliance, and Google Reviews have excellent things to say about Goldco. Most of their reviews are positive.
- Consumer Affairs: There are 811 reviews with an overall rating of 4.8/5 stars.
- Trustlink: There are 253 reviews with an average rating of 5 stars.
- Trustpilot: There are 754 reviews with an overall rating of 4.8/5 stars.
- Google: There are 850 reviews with an average rating of 4.9/5 stars.
Also, some celebrities have warmly promoted Goldco as their go-to investment partner:
- Sean Hannity is a well-known talk show personality in the United States. Goldco is the precious metals firm he recommends to his loved ones, close friends, and viewers.
- Former presidential candidate Ron Paul has endorsed Goldco Precious Metals for gold and silver IRAs.
- Chuck Norris openly supports Goldco and has been a confirmed client. Goldco even sells a limited-edition silver coin featuring Chuck Norris.
- The prestigious American Business Awards selected Goldco as the financial services category’s firm of the year for 2021.
Customers praise Goldco for its excellent customer service, usability, and educational offerings. However, don’t just believe what we say blindly. Listen to what the consumers have to say. Be sure to check the customer reviews online and then make your decision!
My Judgement: Is It Worth Investing In Precious Metals With Goldco?
When it comes to investing in precious metals, there are a lot of options out there. But is Goldco a good option? Here’s what I think.
- One of the things I like about Goldco is that they offer a wide range of services. If you’re not sure what you want to do with your precious metals, they can help you figure it out. They can buy and sell gold and silver on your behalf.
- Another thing I like about Goldco is that they’re a reputable company with over 15 years of experience. They have a good track record in terms of customer satisfaction. I feel confident in recommending them to my readers.
- Their prices are competitive. They offer various payment options, making it easy to invest in precious metals. Their website is very user-friendly.
So, if you’re thinking about investing in precious metals, Goldco is definitely worth considering.
Frequently Asked Questions About Goldco
Q1: Can I keep My Gold And Silver At Home?
No. Goldco follows IRS regulations that restrict storing precious metals in IRAs at home or in a conventional safety deposit box. The storage facility imposes access restrictions and ensures separate storage for each customer’s precious metals.
This ensures that the metals you buy are distributed legally and returned to you (or paid in).
Q2: Is The Value Of The Precious Metals I Purchase For My IRA Guaranteed?
No. Like other investments, the future value of precious metals is not guaranteed and is subject to change based on market conditions.
Q3: Can I Withdraw Anytime From My Goldco IRA?
Yes, you can make unlimited withdrawals from your precious metals IRA with Goldco at any time. However, there is a catch. If you withdraw before you are 59.5 years old, you’ll have to pay a 10% penalty.
After this age, there are no taxes. As per IRS laws, you must also take minimum distributions when you turn 72.
Q4: Am I Free To Use Any Custodian And Storage Service?
Yes. You can choose your own custodian and storage companies; however, Goldco suggests Sterling Trust for storage and Self-Directed IRA and Equity Institutional as custodians.
Q5: Which Precious Metal Is Better For IRA Investments: Gold Or Silver?
Both gold and silver have their advantages, and both are generally safe. Ultimately, it depends on what you want from an IRA precious metals investment.
Gold doesn’t face the same levels of volatility as other precious metal IRAs, so it is generally safer. However, when it comes to long-term wealth preservation, silver is considered a superior investment to gold. Due to its limited supply, silver will ultimately outperform gold in value, which appeals to many investors.
Ask your Goldco representatives this question at the third step while buying precious metals. They’ll be able to offer better direction on this.
Q6: How Much Time Does It Take To Convert A Regular IRA To A Gold IRA?
It takes about two weeks to convert your regular IRA to a gold one with Goldco. However, every application is different, and processing time may vary from case to case.
Q7: How Do Buybacks Work?
Buyback is when you sell your assets before they mature. With Goldco IRAs, you can offer it to the company if you need to get your money back before selling the gold on the open market. They promise to always provide you with the best deal on your buyback.
Closing Remarks On Goldco IRA Guide
I have analyzed at least a dozen gold IRA service providers and found no other option as good or as safe as Goldco for precious metals IRA.
Their IRA professionals do a fantastic job. Once you contact them, you’ll feel like a king or queen. They will answer all of your questions; they know it all.
So, now it’s your time to buy gold and silver. The next crash might happen soon. You must act quickly if you want to be assured that your hard-earned riches are safe.
- Given an A+ rating by the BBB
- Reliable and trustworthy representatives
- No First-year fee
- Bonuses for new clients
- Setting up an account is efficient
- Account support and access via multiple devices
- The minimum IRA investment is $25,000
- High storage fees
- Limited metal investment opportunities