Goldco Review
What is Goldco?
The online company is a precious metals dealer specializing in 401(k) and IRA rollovers. In the past, the company was called Goldco Precious Metals and Goldco Direct. The firm was established in 2006 in Woodland Hills, California and offers over 100 total years of experience in precious metals wholesaling through their website. The services offered also include direct delivery of precious metals to clients through 410(k) and Goldco Gold IRA vehicles.
The specialization of the company is Silver and Gold IRAs. Thousands of clients have received help to diversify, protect and grow their wealth through physical metals including silver, gold, palladium and platinum. The company takes pride in ensuring its clients receive excellent customer service and has achieved a reputation for both exceptional educational resources and extremely high-quality service. Investors interesting in hands-off diversification are excellent candidates for a Silver or Gold IRA.
Despite the limitation of this type of IRA to a single asset class, investors receive an opportunity to invest in precious metals as a hedge for paper investments. This is different than investing in funds, stocks or bonds because the need to spend time performing market research to determine the best investments for a precious metals IRA has been eliminated. The client simply chooses from a catalog containing silver and gold bullion to fund their account.
The function of a Precious Metals IRA works the same way as a Roth or Traditional IRA. Clients saving for retirement receive an investment opportunity with a tax advantage. A Goldco Gold IRA is a retirement account enabling clients to make an investment in precious metals including physical gold. Both Roth and Traditional IRAs are available and can be rolled from an existing retirement account or fully or partially funded account into a new IRA.
Once the client chooses the metals they want to purchase, everything is facilitated by the account administrator. The metals are then safely stored by transferring them to a depository facility. Metals must meet the fineness standards of the IRS of 99.9 percent purity to qualify for addition to a precious metals IRA.
Services Offered
The company offers Precious Metals IRAs. Each one is split into Silver and Gold IRAs. It is important to understand the company is a broker for purchasing and selling precious metals as opposed to a custodian of the client’s actual IRA account. The company does provide assistance in the completion of paperwork applications to specific custodian companies. Clients also receive assistance in purchasing bullion and coins approved by the IRS to include in Precious Metal IRAs.
These purchases are then coordinated through the storage facility and the client’s custodian. Assistance is provided to roll over existing retirement accounts into Precious Metals IRAs. The complete listing of available products is defined below.
Silver IRA:
The client’s unsure how to begin a Silver IRA receive tips from the company including which silver coins are acceptable.
Gold IRA:
Information is provided on starting a Gold IRA. This includes the acceptable metals for investment.
401(k) Rollover:
The company helps clients rollover different types of IRAs including traditional IRAs into Precious Metals IRAs.
SEP IRA Planning:
Clients requiring clarification regarding SEP IRAs are provided with information including contribution limits and eligibility requirements.
Roth and Traditional IRA Planning:
Knowledge and resources are available to compare a traditional IRA with a Roth IRA and roll them into a Precious Metals IRA.
Simple IRA Planning
The company explains the process of opening a Simple IRA including the rules for silver and gold Simple IRA.
Why Invest in Precious Metals?
Scarcity and Demand:
Just like with all natural resources, eventually mining will slow down until the depletion of precious metal reserves. This means precious metals will not last indefinitely. In addition to ensuring precious metals are scarce, the demand will continue increasing since they are used for everyday applications including medical supplies and computers. Precious metals are essential for numerous industries. Purchasing silver and gold bullion is an opportunity to possess extremely valuable resources in the future.
Diversification:
Due to the recession of 2008, a lot of families in the United States experienced an especially bad year with many losing assets and investments. Coming back from this financial crisis was a major struggle. During these times, investing in precious metals is critical for a stable financial portfolio. An investment in precious metals enables people to offset a portion of their losses when there is a recession. There is always the potential for an economic crisis and it is better to be prepared. Diversification provides a healthy balance between stocks and physical assets.
Liquidity:
The issue with owning an expensive home or car is these types of assets are unable to be quickly transformed into cash. Although there is value, the selling process has risks. In some cases, these types of items do not sell. Precious metals are different because they represent immediate liquidity. Precious metals are easily converted into cash whenever necessary. This means they are a valuable asset because they can be relied on for financial security.
Hedging Against the Dollar:
As of February of 2019, the United States is in debt to China for $22 trillion. The basis of value for the dollar depends on the United States paying its debts. History has proven the only way to avoid a financial crisis is with proper preparation. In the event of a serious crisis, the value of the dollar could crash or become completely obliterated. This means a backup plan is necessary for financial security. The best option for a safe haven and protection from inflation is precious metals.
Fees
When a client makes an investment of $25,000, one year of storage fees is reimbursed by the company in the form of silver shipped to the owner of the account. This silver is not included in the IRA held by the client. Fees charged by the storage company must be paid up-front. At the investment level of $25,000, the annual fees are $175. For every additional investment of $25,000, silver is shipped to the client with the same value as storage fees for another year.
The company’s fees do not increase until the client reaches an investment level of $100,000. At this time, the annual fee increases to $225. The actual storage fees are dependent on the custodian. The custodial fees vary depending on the custodial company. The available metals for investment include coins and bullion. Due to the daily fluctuation of the price of gold, the official company website provides charts including the live costs for silver, gold, palladium and platinum in the United States.
There are numerous factors impacting the price of gold. Some of the most common include gold mining and production, inflation, interest rates and the instability of the central bank reserves. All of these factors can affect pricing at any time.
| FEES | |
| Investment Minimum | $25,000 minimum |
| Annual Fees |
$175 under $100,000 $225 fee for $100,000 and more |
| Storage and Custodian Fees |
The actual storage fees are dependent on the custodian The custodial fees vary depending on the custodial company |
| Available Metals | The available metals for investment include gold, silver, platinum and palladium coins and bullion |
Investment Minimum
The company fees and costs are not listed on their official website. According to a representative, the minimum investment recommended is currently $25,000.
Unique Features
The firm offers hands-off investing. This eliminates any guesswork involved with a Silver or Gold IRA. A catalog is sent by the client’s account administrator with available bars and coins. Each client then decides what they are interested in purchasing. The company has a very solid reputation. Their online reputation remains strong for numerous review platforms including the BBB or Better Business Bureau. The specialty of the company has always been selling and delivering IRA-approved silver and gold coins.
The focus of the company is exclusively focused on silver and gold assets approved for IRAs. The precious metals are either delivered directly to the client or their custodians for 401(k)s and Gold IRAs. Two different gold issues are currently featured on the official website. Both have been IRA approved. These are the Lunar Dog British and Australian Saltwater Gold coins. The company offers both coins in a quarter-ounce denomination.
Both coins also have a minimum of 99.9 percent purity which is required by the IRS. The company specifies both of these coins must be vaulted through a secure depository and kept with a custodian to be eligible for inclusion in a Precious Metals IRA. These coins are also available for purchase for private at-home collections. In this instance, the coins would not be included in the client’s IRA.
Australian Saltwater Crocodile Gold Limited Mintage Coin:
The specifications for this coin include:
• 99.99 percent pure gold
• Eligible to be included in a Precious Metals IRA
• Produced in Australia by The Perth Mint
• Extremely well-respected alternative for United States currency.
• Legal tender face value in Australia of $25
• One-quarter ounce size
• Always in demand by collectors and investors all over the world
Gold Lunar Dog British Coin:
The specifications for this coin include:
• Gold purity minted to .9999
• Eligible for inclusion in Precious Metals IRAs
• Legal tender in the United Kingdom with a face value of £25
• Features an official Queen Elizabeth II portrait on the obverse
• Fifth in the 12-year lunar calendar series, highly sought and in high demand
• Bullion standard according to the Royal Mint
• Includes a reverse design by Wuon-Gean Ho, a British-Chinese artist
The company advises all of its clients regarding the different considerations necessary for an investment in gold versus silver. To begin with, establishing a partnership with a trusted company is necessary to eliminate issues related to the counterfeiting of silver coins. Silver is also used heavily as an industrial metal. These applications far exceed both jewelry for consumers and status symbols. Silver is essential for the industrial sectors.
This includes essential energy technologies, medical equipment and industrial tools. This is one of the reasons experts are always predicting the price of silver may substantially increase during the next few years. This means IRA-approved silver can be purchased not only for scarcity and appreciation, but also as a hedge for future inflation. The company is straightforward in informing clients not every silver coin is IRA eligible. This is because IRS rules for silver qualification are strict.
The company also features two silver, half-ounce coins on their official website for inclusion in a Precious Metals IRA. These are the Canadian Lucky Dragon and Australian Saltwater Crocodile silver coins. Both have the minimum purity of .999 mandated by the IRS. In order for these coins to be included in a Precious Metals IRA, the custodian must store them at a secured depository. If the client is interested, the coins can be shipped directly to their home for a private collection. In this instance, the coins are not included in the IRA in any way.
Australian Saltwater Crocodile Silver Coins
The specifications for this coin include:
• Produced in Australia by the Perth Mint
• 99.99 percent silver purity
• Highly respected option to the United States currency
• Limited mintage coins
• Eligible to be included in a Precious Metals IRA
• Legal tender in Australia with a face value of $0.50
• One-half ounce size
• In demand all over the world with both collectors and investors
Canadian Lucky Dragon Silver Coin:
The specifications for this coin include:
• Produced at the Royal Canadian Mint
• Weight of one ounce
• Limited mintage issues
• Face value of $5 for legal Canadian tender
• Eligible to be included in Precious Metals IRAs
• .999 fine silver
• In high demand all over the world by collectors and investors
• Well-respected alternative for the United States currency
Customer education is unique because the company makes it a priority. Clients can find a lot of useful information on the official website. This information is located in the Knowledge Section of the drop-down menu. Pricing is provided for the two key precious metals in addition to a wide range of videos for view and eBooks. There is also a page titled Frequently Asked Questions offering even more information. The majority of feedback for the company is positive.
The business is accredited with the BBB and has achieved a five out of five-star rating. A 4.7 TrustScore is based on feedback from 523 investors. The Customer Financial Protection Bureau has not received a single complaint at this time. The company has maintained an excellent track record since being established in Woodland Hills, California in 2006. According to clients, the company makes it straightforward and simple to roll existing funds into a Precious Metals account.
Pros and Cons
The Pros:
• Full transparency regarding the background of the company and the management team
• Customer support team is friendly
• Company specializes in IRAs backed with precious metals
• Clients receive access to extensive educational materials
• Excellent track record
• Better Business Bureau rating is an A+
• The team is highly experienced with a century of experience in metals
The Cons:
• Although the precious metals selection is small, this is not necessarily bad
• Other alternative assets are not available with the company
• No storage or custodial services are provided by the company
Coupons and Offers
If you are thinking of joining Goldco and would like a coupon, you can get their Free Gold IRA Guide which includes Free Audio Book, Free Video Guide and Free Silver!
SPECIAL OFFER FOR NEW CUSTOMERS:
When you open a new account with at least $50k, Goldco will waive all fees for the first year
Place a qualifying order over $50k and earn 5% back in free metals
Reviews
How to Get Started
Once an individual decides they are interested in including precious metals in their investment portfolio, the first step is to contact the company. Each investor is provided with all of the help required to set up and establish a functional SDIRA. The process is as follows.
Step One:
Go to the official company website. There is a form provided the individual needs to fill out. The client will receive a call from the support staff to set up their account. This process is based on the individual needs of each client. If preferred, clients can also contact the company via telephone at (877) 414-0830.
Step Two:
The support staff will inform each client as to the information and documentation required. When the client has everything necessary, they can call the support team or arrange a convenient time to be reached. This is when the registration process is completed. The rollover process will also be completed at this time.
Step Three:
All of the paperwork is then sent to the company for verification by the support staff. Once verification is complete, the account is activated.
Step Four:
The SDIRA account is opened by the company. An expert works with each client to determine the best precious metal assets for inclusion in the investment portfolio. The client needs to allow between two to three weeks for the entire process to be completed.
A retirement portfolio such as a Precious Metals IRA is important because it must last for numerous years of retirement. No changes should ever be initiated lightly. The company provides a lot of years of experience in both Precious Metals IRAs and the precious metals market. This experience is essential for guiding investors through many important decisions. The company explains the available investment options for Precious Metals IRAs and the rules regarding investing in a Precious Metals IRA.
The company also works hard to make the paperwork involved and logistics necessary to move physical investments as simple as possible. The most frequently discussed benefit of working with the company in client reviews and testimonials is the ease of working with company teams including the storage facility approved by the IRS, the metals broker and the IRA custodian.
Visit Goldco website to get Free Investment Kit
