Goldco Reviews: Are They a Legit Company in 2022?

The closer you get to retirement, the harder it is to know where to invest your money. Stocks are inherently risky, and while bonds might be a safer option, they don’t offer the potential for high returns.

Gold and other precious metals are often considered safer investments, which is why people often invest in Gold IRAs.

If you would like to protect your income and standard of living upon your retirement, investing in a Gold IRA, which is also referred to as an Investment Retirement Account, can be an excellent idea.

A Gold IRA is not that much different from a traditional IRA, with the only difference being that you are investing in physical gold as opposed to paper assets.

A Gold IRA can be a great way to shield your investment capital from runaway government expenditure and volatility in the stock market. Bonds, mutual funds, and stocks are all assets that are tied to the value of the dollar, but gold and other precious metals will always have intrinsic value besides what happens in the paper asset markets.

If you are looking for a good investment to help diversify and stabilize your portfolio through precious metal investments, you should consider a company like Goldco.

Goldco is one of the best companies to consider investing in whether you want to establish a new Gold IRA or do a Gold IRA rollover.

What Is Goldco?

The Goldco logo alongside two golden coins

Goldco is a full-service gold and precious metals company that was founded in 2006 by Trevor Gerszt.

The company is based in Woodland Hills, California and its primary focus is Precious Metals IRAs also known as Gold IRAs.

Goldco deals almost exclusively in IRS-approved gold and silver investments and works with clients with existing or new Precious Metals IRA accounts (see the best). The company offers clients detailed information to help them build the best precious metals portfolio to achieve their goals.

Goldco enjoys excellent ratings from clients from a variety of review websites such as the BBB, TrustLink, TrustPilot, Consumer Affairs, and BCA, which shows the company’s commitment to the ideals in every part of the business as well as the precious metals industry in its entirety.

What Does Goldco’s Gold IRA Offer?

Goldco understands that saving up for retirement isn’t necessarily the easiest task.

Sometimes, even when investors do everything right and invest their money in the stock market for decades, the gains made can be quickly wiped away just before retirement.

To help people avoid stock market crashes such as the 2008 financial crisis, Goldco offers retirement products backed by physical precious metals as opposed to paper assets. Investing in a Gold IRA by Goldco offers the following benefits:

  • Tax Benefits

Goldco firmly believes that people should have the right to acquire tax-free capital gains, which is exactly what the Gold IRA that the company offers clients provides.

  • Rollover Ease

Goldco has made it incredibly easy for investors to transfer their retirement funds into Gold or Silver IRAs.

  • Financial Stability

The supply of gold increases by just a miniscule amount each year, which means there’s no major inflation risk. In contrast, fiat currencies face an average annual inflation rate of between 2 and 3 percent.

  • Wealth Appreciation

The supply of gold has held steady over the years, but its price has increased consistently over time too. It has actually outpaced the stock market since 1971.

  • Diversification

Investing in gold can protect you against currency risk, inflation, geographic risk, default risk, and financial crises. If you are approaching retirement, this level of security is a luxury that other asset classes simply don’t offer.

Investing with Goldco

Here’s a quick look at what it takes to get started…

If you would like to get started with your precious metals investment, you should first reach out to Goldco. The company’s investing specialists will then walk you through the process of setting up your account. However, it will generally look something like this:

1. IRA Selection

You have the option of choosing either a traditional self-directed IRA or a self-directed Roth IRA. The option that’s most suitable for you will depend on how you plan to fund the account. If you plan to roll over funds from a Roth IRA, a self-directed Roth account will likely be most suitable.

2. Funding Source Selection

You will then need to figure out how you will fund the new account. The vast majority of investors typically use funds from other retirement accounts, such as IRAs, 401(k)s and 403(b)s. You just roll over either a portion or all your funds into the new account.

3. Custodian Selection

You will then need to choose your Gold IRA custodian. Since you are using Goldco, these will automatically be Equity Trust, which is the company’s preferred custodian. Once you have filled out the custodian’s paperwork, you can now establish your IRA and start investing.

4. Fund the Account

The next step is to fund the account. If you are rolling over funds, you can request the transfer by contacting your current retirement or 401(k) holder. However, you should first consider speaking to a tax advisor to ensure compliance with the IRS rules and minimize your tax liabilities.

5. Buy Your Metals

The final step is to choose the precious metals that you would like to buy. Goldco’s investing specialists will help you choose the right metals to include in your portfolio, along with coordinating the purchase, shipping, and storage of your investments,

Gold Products and Services Offered by Goldco

three gold coins purchased from Goldco

Goldco allows customers to legitimately buy and hold a wide range of IRS-approved gold products. The company actually claims to do this more efficiently than other companies that offer similar products and services.

IRS-regulations dictate that gold products to be included in an IRA are required to have at least 0.995 fineness, which is a criterion that Goldco’s product offering certainly meets. To ensure that the fineness criteria is met, Goldco collaborates with mints in the USA, Canada, Australia, and other parts of the world.

The IRS-approved Gold IRA products that Goldco offers are listed below:

  • Gold American Eagle Type 1

It was first manufactured and distributed by the US Mint back in 1986 and is recognized as the official gold bullion coin of the United States and it is a great investment. The asset is available in a variety of weights ranging from 0.1 oz, 0.25 oz, 0.5 oz, and 1 oz.

  • Gold American Eagle Type 2

It is very similar to the Gold American Eagle Type 1 since it is also made from 22 karat gold, but it features a different design/image that sets it apart from Type 1.

  • Gold American Eagle Proof

It is IRS-approved and comes in 4 distinct variants of 0.1 oz, 0.25 oz, 0.5 oz, and 1 oz. It is crafted from 22 karat gold.

  • Gold Liberty Coin

It is a $25 coin that carries the likeness of Queen Elizabeth II as well as Philadelphia’s Liberty Bell. It is made in the New Zealand Mint.

  • Gold Australian Striped Marlin

It is a coin that’s made from 99.99% pure gold. It is made in Australia by the Perth Mint.

  • Gold Maple Leaf

It is a coin that was originally created by the Royal Canadian Mint and was introduced into the market back in 1979 and is made with 1 oz of 0.9990 pure gold. It is also IRS-approved.

  • American Gold Buffalo

It is an IRS-approved 24-karat gold bullion coin that’s made from 0.9999 pure gold. It is minted in the United States by the US Mint.

  • Gold American Bald Eagle

It bears the likeness of Queen Elizabeth II on one side of the coin and a bald eagle on the other side. It is made in Australia by the Perth Mint. It features 0.25 oz of 0.9999 gold.

  • Gold Australia Saltwater Crocodile

It is yet another product offered by Goldco that comes from the Perth Mint. The coin passes as legal tender.

  • Gold Lucky Dragon

It contains 0.25 oz of 0.9999 pure gold and comes from the Royal Canadian Mint. It is considered a lucky charm and is actually revered in the market.

  • Gold Freedom and Hope

It was originally made to mark the 245th anniversary of the Declaration of Independence. It weighs 0.25 oz and is made from 0.9999 pure gold. It is made by the Royal Dutch Mint.

  • Gold Freedom Coin

It is minted in New Zealand and it symbolizes freedom. The coin celebrates the 135th dedication anniversary of the Statue of Liberty.

  • Gold Military Guinea

It is a gold IRA-approved coin that’s minted by London’s East India Company to pay tribute to a previous coin. It is made from 0.25 oz of 0.9999 pure gold.

  • Gold British Lunar Series

It is a unique coin that’s a product of the Royal Mint. It features a new design that’s hinged on the Chinese Zodiac signs. It is made from 0.25 oz of 0.9999 pure gold.

  • Gold Bars

It is a product category targeted towards IRAS and comprises IRS-approved IRA-eligible gold bars whose purity levels are 0.9999.

Other Products Offered by Goldco

Goldco does not just offer gold products that you can include in your IRA. Here are other products offered by the company:

  • Silver Coins

The company offers 2 high-quality silver coins minted from 1 oz of 0.999 pure silver that come from various mints, notably in Canada, Australia, the United Kingdom, and New Zealand. The Silver American Eagle Type 1 and the Silver American Eagle Type 2 are the most notable among these coins.

  • Silver Bars

Just as is the case with the gold investment products that Goldco offers, the silver products the company offers also have a fineness of up to 0.9999, which makes them some of the best in the market.

  • Five Principles by Chuck Norris

It is a unique product that’s offered exclusively by Goldco. The Chuck Norris Five Principles are made by the New Zealand Mint from 1 oz of silver. The 5 principles that the product represents are faith, freedom, family, fitness, and fight.

Buyback Policy

Goldco boasts of offering clients the best buyback policy in the industry with the most extensive possible returns. If you ever reconsider your decision to invest in precious metals or would like to make changes to your Gold IRA holdings, the company promises to repurchase your coins or bars at the best possible price.

Storage Options

According to IRS regulations, you are required to store your IRA precious metal investments with an approved third-party depository. Goldco has partnered with the best storage providers in the industry to safeguard your investment.

The default storage provider used by Goldco is the Delaware Depository. You can expect highly sophisticated vaults at each of the storage facilities along with other types of security apparatus to prevent any violation of your precious metal investment.

Fees and Pricing Options

Goldco has a relatively higher minimum investment requirement compared to the competition, but this is a fact that the company makes very clear to all clients. Still, in good faith and in an attempt to make its product more accessible, Goldco doesn’t charge new clients any fees for the first year.

The following is a breakdown of the company’s pricing and fee structure:

  • The minimum investment is $25,000
  • The yearly fees charged are $180 plus storage fees
  • The company offers new clients a 10% rebate on silver coins and they also aren’t required to pay any fees for the first year.

Real Customer Reviews: What Are Real Customers Saying About Goldco?

The vast majority of customers appear to enjoy and be satisfied with the services that Goldco provides. In fact, the company has such a positive reputation that it has earned an A+ rating by the Better Business Bureau (BBB), a 4.8-star rating by Trustpilot, and a 4.7-star rating by Google Reviews.

The vast majority of customers have nothing but favorable things to say about the company’s employees. Goldco customers report that they were able to seamlessly establish or rollover their existing IRA to a Gold IRA with the help of a representative of the company.

Still, other customers didn’t have the most positive experiences. Some found the fees confusing and weren’t sure of where their investments were stored, making it difficult to go through the initial setup and maintenance of the accounts.

Other customers report that while the company’s customer service team was friendly, they quickly grew frustrated with the frequent calls to buy Gold IRAs. People looking to spend less money did not like the high minimum deposit required.

Overall, most Goldco customers report having a pleasant experience with the company, which is why there are numerous mostly positive comments online. Overall, the company actually follows through on its claims to provide customers with a simple and reasonable option to create and use a gold IRA.

Goldco Pros and Cons

Determining whether or not Goldco is the best service for you isn’t necessarily a straightforward option and may depend on your specific requirements. That’s why it is important to consider the company’s pros and cons before making your investment:

The Pros

  • Goldco has generally impressive customer service that ensures that all clients have a great experience.
  • Goldco has simplified the process of investing in Gold IRAs, even for individuals without much knowledge about such investments.
  • New Goldco customers enjoy some wonderful incentives, such as not being required to pay service fees for the first year and a rebate of 10% on silver coin purchases.
  • The company offers the best buyback rates to customers.
  • The company offers a wide range of precious metal investments that customers can include in their Precious Metals IRAs.
  • Goldco provides honest advisors that customers can consult.

The Cons

  • The minimum investment amount is $25,000 which is considered too high by most average investors.
  • The company offers just gold and silver investment products but does not offer platinum or palladium products.

Best Goldco Competitors

If you are looking for the best Gold IRA company to invest in, you need to do proper research to ensure that you are working with a reputable company.

The best Gold IRA company will depend on your financial goals and capacity.

While Goldco is definitely highly recommended, there are other decent alternatives, which include:

  • Augusta Precious Metals

Another worthy competitor to Goldco is Augusta Precious Metals.

It is a highly trusted Gold IRA company that hasn’t received any complaints since starting its operations back in 2012. The company’s mission is to empower regular citizens to protect their retirement funds by investing in precious metals.

The main advantage the company has over the competition is its simple onboarding process.

  • Birch Gold Group

Birch Gold Group is another decent Goldco alternative.

It has close to 20 years of experience in the precious metals industry and offers a wide range of investment products. The company simplifies the process of investing in Gold IRAs.

The main advantage the company has over the competition is the free Gold IRA information kit it offers clients to help you learn about how precious metals investment can protect your retirement funds.

  • Regal Assets

Regal Assets is the final worthy Goldco alternative that we have found.

If you want something different that will allow you to maximize your retirement funds, you should definitely consider Regal Assets.

The company was founded back in 2009 by Tyler Gallagher and has quickly become a leading name in financial services.

The main advantage that Regal Assets has over its competitors is their focus on alternative investments, like cryptocurrency.

Summary

Precious Metals IRAs provide a hands-off investing opportunity if you are looking to save for retirement.

The good thing about precious metals IRAs is that they not only help you hedge against inflation but also that they are tax-advantaged accounts.

Goldco is a highly reputable and trustworthy precious metal IRA firm and it has a long track record of success. The company’s credibility is unquestionable, which is why customers are at ease when they invest in it.

The services offered by the company are aligned with the best interests of the customer and the Goldco team is committed to helping you grow, diversify, and protect your wealth with precious metal investments like silver and gold.

Goldco offers an excellent solution if you want to safeguard your retirement funds and is highly recommended.

If you are ready to purchase precious metals or invest in a gold IRA, you should reach out to Goldco today to learn more about investing in precious metals.

About the author, Colin Kuehn

Colin is a trained journalist, with a master's degree from the University of Montana. He has worked in print, radio and television. His primary research focus is gold and sliver investing. Learn more about Colin and the team on our about page.

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