Goldco Precious Metals Review
5-Star-Rated Customer Service & Performance 14 Years & Counting
In a Nutshell: During the course of researching our Goldco review, we have found Goldco Precious Metals to be dedicated gold IRA specialists with a passion for individualized customer service and a sterling reputation in the industry.
Afraid of investing your hard-earned nest egg with the wrong precious metals IRA company?
...Scared of placing your assets in the hands of a company you don’t fully trust?
You’re right to be nervous. After all, this is your retirement at stake. You’ve worked and planned all your life for your later years, and a trusted haven is what you need now for that nest egg.
Goldco Precious Metals is a gold and silver IRA brokerage company that you can trust with your assets.
Thousands of investors have chosen Goldco as their gold and silver IRA company because of its unblemished reputation and wide recognition for unparalleled customer service.
Ratings by industry watchdogs testify that Goldco has been a leader in IRA rollovers into precious metals IRAs (more commonly called gold IRAs) since 2015.
A Brief History of Goldco
Goldco Precious Metals was founded in 2006 as Gerson Financial Group, specializing in business-to-business precious metals sales.
Trevor Gerszt bought the firm in 2011, changed the name to Goldco Direct, and recast the business model to one that focused on direct-to-consumer sales of gold, silver, platinum, and palladium.
At this time, they also began offering 401k and IRA rollovers to self-directed IRAs, allowing owners to hold physical precious metals in their retirement accounts. By 2014, providing self-directed gold IRAs and IRA rollovers had become the bulk of their business.
Goldco’s Mission Statement
“To provide Americans with a powerful option to protect their IRAs, 401(k)s and other qualified retirement accounts from the market volatility and inflation that take an irreparable toll on your savings. This singular dedication and service has made us the number one Gold and Silver IRA provider in the nation.”
Chief Executive Officer
VP of Sales
Chief Marketing Officer
Goldco Reviews & Complaints
All good companies have abundant 5-star reviews, and Goldco is no exception. Across the board, they garner effusive 5-star comments on its customer service.
Clients praise Goldco account specialists for their knowledge, patience, and accessibility before, during, and after sales.
They average 5-star ratings from 700+ customers on industry watchdog sites
- Rated “Excellent” (the highest possible assessment) with 498 reviews on Trustpilot
- Rated a perfect 5 stars with 245 reviews on TrustLink
- A+ rating on the Better Business Bureau and accredited with the BBB since 2011 (To achieve accreditation, a company must have established and maintained a positive track record, advertised honestly, told the truth, honored promises, built trust, been transparent, been responsive, safeguarded privacy, and embodied integrity.)
- AAA rating on Business Consumer Alliance
- Highest 5-star rating with 206 reviews on Consumer Affairs
The proof of a company’s caliber only partially lies in its great reviews, however. The clincher lies in a company’s response to bad reviews and customer complaints.
It’s in this critical area of responding to customer complaints that sets them apart from the competition. Of the few bad remarks they have received, most have revolved around misunderstandings about coin values.
Representatives have responsively and patiently addressed the concerns and explained how coin values work. Some of the negative reviews have been amended to reflect this.
In other situations, reps have answered complaints directly and made every effort to rectify the situation. These responses underscore their commitment to superior customer service and total client satisfaction.
Services Offered by Goldco Precious Metals
Precious Metals IRAs
The eligibility requirements for a traditional IRA (such as a precious metals IRA) are:
- 1You have earned income and
- 2You’re under age 70 ½.
If you have met these requirements, you can hold physical gold (coins & bullion), silver (coins & bullion), platinum coins, and palladium coins in a their precious metals IRA. The recommended minimum investment is $25,000.
The IRS mandates that self-directed IRAs have custodians. Goldco’s preferred IRA custodians are Equity Trust & Self Directed IRA (Strata Trust).
**Per IRS rules, IRA metals must be stored with a third party.
Goldco’s preferred storage company is Delaware Depository, a facility with Class 3 vaults and Lloyd’s of London insurance. Other storage company options are Brinks (Salt Lake City) and IDS (Dallas). Investors may also choose different facilities altogether.
The IDS storage facility in Dallas offers segregated storage.
Non-IRA Precious Metals
Any investor can purchase precious metals through Goldco outside of an IRA account. You don’t have to be a certain age to purchase them or have earned income. You can have the precious metals delivered to your home or kept in a secure vault.
Goldco’s subsidiary company, CoinIRA, offers cryptocurrency IRAs. It has been featured on Investopedia, Forbes, WealthManagement.com, and TheStreet. CoinIRA has also developed non-IRA offerings that allow investors to buy and sell cryptocurrency within their own portfolios.
CoinIRA specialists are available to assist customers in rolling over 401k accounts. The company assures the protection of crypto assets through its partnership with a market leader that provides insured custody services.
For the general public as well as its clients, they offer extensive website resources to help people understand retirement investing in gold and silver.
Under the Resources tab on the top menu, you’ll see a dropdown with ebooks, videos, and FAQs. You’ll also see a link to check spot prices of precious metals.
They religiously publish a blog, which can be found on the homepage menu. There are almost 700 blog articles to choose from.
Goldco Fees & Storage of Your Precious Metals
Precious Metals IRA Fees
One Time Fee
$100 Non-Segregated$150 Segregated
**Ongoing cost is $180/year for Non-segregated storage and $230 for segregated storage.
**There are NO fees for purchasing gold, silver, platinum, or palladium outside of a retirement account.
Goldco Preferred Storage Providers
Segregated / Non-Segregated
Annual Storage Cost
Brinks Salt Lake City
IRS regulations require storing your IRA-held coins or bullion in an approved third-party depository.
Goldco has relationships with three state-of-the-art providers giving you segregated and non-segregated options.
Opening Your Self-Directed IRA- Goldco Makes it Seamless
You can’t open a Goldco precious metals IRA account online, but you can submit an online application or start the process easily over the phone.
- 1Call Goldco to speak to a customer support agent (855-465-3472).
- 2Get transferred to a Goldco IRA specialist (or set an appointment).
- 3Provide your information to the IRA specialist for the completion of your application, account setup, and funds transfer.
- 4When your account is funded, an Account Executive will help you choose the metals you want to purchase and hold in your IRA. Goldco will transfer the metals to the depository you select within a few business days if they have the metals in stock. If they don’t, it will take three or four weeks to get the metals to your depository.
The process is smooth and easy and can usually be completed in two weeks.
Faq About Precious Metals IRAs
Why should I have a precious metals IRA?
Gold and precious metals IRAs are attractive instruments to many mature investors because precious metals are generally considered stable assets that weather stock market turbulence and market volatility.
In a precious metals IRA, gold and precious metals help provide insurance that portfolios will retain value.
Does Goldco guarantee the value of my precious metals?
No. Just like all investments, values of precious metals rise and fall according to market activity and influences.
Can I have coins, or do my precious metals have to be in bars?
Some coins are IRS approved, and you can hold these in a precious metals IRA.
**Not all coins and not all bars or bullion are IRS approved.**
Goldco only deals with coins, bars, and bullion that the IRS has approved for IRAs.
Can I roll over my traditional IRA into a Goldco precious metals IRA?
Yes. A dedicated Goldco specialist will help you do that in compliance with IRS rollover regulations. There are direct rollover and indirect rollover options.
You will work with your specialist to determine which is the best option for you.
It generally takes about two weeks for the rollover to be completed, although in some cases, it can take longer.
Can I store my precious metals at home?
**You can only store your precious metals at home if you’re buying them directly and they are not part of an IRA.
If your metals are part of an IRA, they cannot be held at home (per IRS rules) and must instead be held in a third-party IRS-approved storage facility.
This means that Goldco can’t store them either.
What are the requirements for a precious metals IRA?
The requirements are the same as for any traditional IRA. You must have earned income and must be under the age of 70 ½.
Is a precious metals IRA different from a gold or silver IRA?
No. You can use the terms interchangeably. In other words, a gold IRA is a precious metals IRA.
Do I have to use Goldco’s custodians and storage companies?
No. You can choose your own.
If you want to use Goldco’s companies, they recommend either Self Directed IRA or Equity Trust as custodians and Delaware Depository, Brinks, and IDS as storage providers.
Does Goldco have a buyback program?
Yes, Goldco has a very aggressive buy-back program and has an entire department dedicated to buy-backs.
Also, after you turn 70 1/2 or 72(depending on your birth date), the IRS requires to begin taking withdrawals from your precious metals IRA.
When can I take distributions from my precious metals IRA without penalties?
Age 59 ½ is the golden number at which IRA distributions can be taken penalty-free.
A Final Word on Goldco Precious Metals
The stock market crashes of 2000, 2008, and now 2020 serve as in-your-face reminders of the volatility of the global economy. Investment portfolios exclusively comprising stocks and mutual funds are at risk when the financial landscape is buckling.
Holding safe-haven precious metals in Goldco IRAs provides a comforting hedge during these times.
If you like everything about Goldco except the fees, consider opening a taxable account. And if you simply want to purchase precious metals outright, that’s an option, too.
Goldco provides a range of solutions for its clients. Each one is accompanied by unparalleled customer service, responsively delivered.
We sincerely hope you've gotten great value from our Goldco Precious Metals review. Let us know your thoughts and any questions you may have below in the comments section.
Quality of Service