Goldco Review – Fast Stats:
Goldco Overview
Goldco Precious Metals are one of America’s top bullion dealers operating nationally across the US from their headquarters in sunny California.
Although they provide general bullion investment and vaulting services, their true specialty is in the provision of Gold IRAs – over 95% of the gold and silver they sell is held securely within a self-directed IRA.
Consistently among the highest rated bullion dealers in America, Goldco Precious Metals are our 2020 Top Choice Dealer for Gold IRAs.
Goldco’s Main Services
Goldco Precious Metals sell bullion bars and coins, either as part of a Gold IRA, within secure vaulting or directly to client’s homes – in all cases the metals helping to protect client’s wealth by diversifying and hedging their assets.
Having established themselves as market leaders in the Gold IRA field, this is now their principal area of operation and they provide a full concierge service. From opening new IRA accounts or performing IRA rollovers / transfers, to arranging ultra-secure vaulting and custodian services – Goldco then delivers the highest quality investment-grade gold, silver, platinum and palladium bullion directly into client accounts.
For those simply looking for a reliable and trustworthy bullion broker, they will of course direct supply precious metals to your home or arrange high-security vaulting at a choice of vaults – and their team of over 60 highly trained investment professionals and brokers are always happy to advise on any aspects of your portfolio or investment plans.
If you have any questions Goldco’s helpline offers free, no obligation advice on (877) 421-1239
Gold IRA Transfer and Rollovers
Goldco have been at the forefront of the Precious Metals IRA market since 2007, helping savvy Americans take advantage of special tax breaks on offer when buying certain bullion products inside a self directed IRA.
With IRS relaxations on allowable assets, US citizens are now able to buy tax-advantaged precious metals while getting income tax deductions to the same value. If you’re in the 35% income tax bracket this is equivalent to the IRS giving you 3½ ounces of solid gold for every 10oz you buy!
Given Gold and Silver’s historic uses as wealth protection insurance in times of crisis, the IRS is helping you load up on these essential diversification assets just when we may be needing them most – and Goldco has prepared a series of useful guides explaining exactly what gold and silver can do when the next recession hits.
To help you get maximum advantage from gold and silver in your retirement plan, Goldco offers the following services:
#1: New Precious Metals IRAs
To be able to buy tax-advantaged bullion, you need to have a Self Directed IRA. Goldco can help you open a new Self Directed IRA if you don’t already have one – their team of IRA specialists have opened 10,000s of accounts and have developed a process which is incredibly quick and straightforward.
Setting up arrangements with a leading Gold IRA custodian and ultra-secure bullion depository on your behalf, Goldco can handle every step of the process if you wish and can even help you pick a portfolio of metals best suited to your needs.
From first enquiry to having tax-advantaged bullion protecting your retirement can take as little as 10-14 days – and at only $260, including set up, annual maintenance, secure vaulting and wire fees, it’s among the best value in the market too.
#2: IRA Rollovers / Transfers
For clients who already have a regular IRA, an employee 401k or similar, Goldco can perform fast and efficient rollovers or transfers to a Gold SDIRA.
This is required because not all retirement accounts are able to take advantage of holding physical bullion – in fact it’s only self-directed IRA’s that can carry physical bullion bars and coins. Funds will need to be moved to the right type of account, which has to follow a specific process to avoid creating a distribution, which can be a taxable event or even cause a tax penalty. After all there’s no point saving tax on one hand then paying more on another.
Thankfully experts like Goldco carry out Gold IRA rollover and transfers all day every day and have the procedure down to an art form. From working with your existing trustees or custodian, to liaising with your new account, their team can transfer or rollover funds from one account to another sooner than we’ve seen some bullion dealers reply to an email.
The IRS may make the rules complex, but companies like Goldco take all the pain out of the process, leaving you to enjoy the shining and highly tax-efficient result.
Despite rollovers and transfers involving more work than opening a new account, Goldco’s fees remain the same – $260 including set up, first year’s maintenance, vaulting and transfer wire fee.
Goldco’s free Gold IRA Guide covers all aspects of the process and should be considered essential reading for anyone considering holding gold in an IRA.
Goldco’s Step-by-Step IRA Process
- A customer will initiate contact with Goldco Precious Metals, either through their website or by calling (877) 421-1239.
- They will then speak with an investment advisor for a short initial chat to see if precious metals or a gold IRA would be suitable for their situation. This is not always the case and Goldco will always point out alternatives in the rare cases when gold and silver are not good options.
- When the client wishes to proceed they be given a telephone appointment with a Gold IRA Specialist who will gather the required information to move forward with the process.
- Either a new account is established and transfer of funds initiated, or if the client already has a suitable IRA they move onto the next step.
- With funds in the account, the client’s Account Executive will discuss and help select a choice of bullion bars and coins which will then be purchased.
- Inventory bullion is placed directly into the client’s IRA account at the chosen secure bullion depository. This typically takes 2-4 days, but for non-stock items this can take from 2-4 weeks depending on rarity and wholesale seller stocks.
The items are then held in the IRA account until such time as the client wishes to withdraw. At this point Goldco will ask for first opportunity to buy back – as they will generally offer better than average prices – or the client can sell to any bullion dealer they wish.
IRA Custodian Services
All IRAs should be held by a custodian – a trusted and accredited third party helping keep your IRA investments at arms length and ensuring all investments and tax events are tracked for the IRS.
The rules for custodians are strict and because they work directly with the IRS and have a fiduciary duty of care to their clients they must meet and maintain high standards for IRS approval.
Not all custodians are set up to handle physical precious metals, or well-versed in the sometimes complex IRS rules and regulations specific to precious metals. Goldco works with some of the most trusted precious metals custodians in the business and can suggest a custodian best suited to your needs – especially if you’re looking at other alternative assets such as bitcoin.
Goldco’s main precious metals custodian is currently Equity Trust – but the company are flexible enough to work with any custodian you’d prefer.
At time of writing the annual maintenance fee for Goldco’s custodian services through Equity Trust is $80. This is included in Goldco’s total first year fee of $260, or annual fee of $180.
Gold in an IRA cannot be held at home – it must be held in an approved bullion depository, a specialist high security bullion vault assessed by the IRS as meeting strict standards. This is something Goldco will arrange on your behalf, and in conjunction with your custodian. For more details on vaulting see the next section; Vaulting.
The Goldco IRA Investing Kit contains more information on working with IRA custodians and is delivered free to your home.
Goldco Security: Precious Metals Vaulting
Whether inside of an IRA or outside in your personal / family investment portfolio – gold and silver bullion is most secure when it’s being held in a specialist bullion vaulting facility or depository.
Although specialist vaulted storage is a legal requirement for an IRA, it’s highly advised for any precious metals portfolio over $10,000. Despite home safes being able to be be insured, and with many of the better ones being rated at $25,000, $50,000 and even $100,000 – they can never offer the level of protection provided by a professional gold depository.
High security normally comes at a high cost, but thanks to the enormous economy of scale these large depositories operate at, many can provide all your vaulting needs regardless of how big your holding for between $250-$500 a year – and in Goldco’s case thanks to special arrangements they have with some of the top vaults in the country, far less.
At time of writing the annual storage fee for Goldco’s IRA bullion vaulting services through Delaware Depository Services is $100 for unsegregated/allocated storage. This is fully included in Goldco’s total first year IRA fee of $260, or annual fee of $180. You can upgrade storage from allocated to fully segregated for only an additional $50/year.
And for non-IRA clients, it gets even better: Goldco have a special deal on offer for 2020 where high-security bullion depository vaulting is free* in year one – saving their already low $100 vaulting fee.
Goldco’s recommended gold vaulting services are the Delaware Depository Services Company, Brinks and International Depository Services.
For full details of these special vaulting offers or to claim the free* vaulting for yourself, call (877) 421-1239 and mention Bullion.Directory.
Goldco Online Reviews
Thanks to their strong focus on customer care and fast efficient services, Goldco reviews are wholly positive across all major review websites and ratings aggregators, averaging 5 stars or A+ ratings.
Goldco IRA Reviews are as to be expected the most common review found online although there are reviews from non-IRA clients and even coin collectors thanks to Goldco’s occasional promotions on Proof American Silver Eagles and Proof American Gold Eagles. Goldco’s IRA Loophole Guide also receives frequent mention.
As of February 2020, Goldco reviews among the main consumer protection sites are:
Business Consumer Alliance: AAA
Scam Report: A+
Trustpilot: ★★★★★ (484 Reviews)
Consumer Affairs: ★★★★★ (210 Reviews)
We ask all customers to leave Goldco reviews and ratings using the “Reviews” tab at the top of this section. Your reviews, good or bad, will help future investors make a decision when choosing Goldco for their IRA or investment gold.
Detailed Goldco Ratings
The following ratings are based on a combination of third-party reviews, consumer feedback and our own experiences in dealing with Goldco and are a direct comparison to other bullion dealers in the market.
The average mark should be taken as 50%, below average is 40% and lower, above average is 60% and higher. Ratings higher than 90% are considered excellent and are among best in class.
Metals Selection
Although Goldco can get hold of most bullion products, their stock lines are limited to the most popular mints and brands at the most popular sizes. Special orders can see delays of 2-3 weeks, so we recommend sticking with stock items which are available immediately.
Metals Premium
Due to their high volumes in trade Goldco’s premiums on their most commonly bought items and largest bar sizes are excellent, especially in comparison to other Gold IRA specialists. Although the metals can be found cheaper at low budget bullion dealers, the value-added services Goldco bring to the table more than make up for this.
Storage Costs
Goldco’s IRA storage fees are among the lowest in the gold IRA marketplace and they run regular vaulting offers for non-IRA customers which can see free storage offered at certain order minimums. Even outside of special offers, Goldco’s vaulting averages between $100-$150 regardless of quantity vaulted, which can give clients significant savings versus percentage-based fees.
Shipping Costs
Shipping prices are included in Goldco’s low IRA fees and for retail purchases can be free above certain order minimums.
Customer Care
This is where Goldco truly stand out and Goldco clients are consistently happy with all aspects of the company’s services. While there are occasional bad reviews as can be expected with any company operating on this scale, these are considerably lower in volume or for less serious matters than at other equivalent companies.
Overall Rating
We have rated Goldco a high 92% making them out top choice for Gold IRAs in 2020 and highly recommended in all other aspects. The only class we don’t recommend Goldco in are numismatics/collectibles, due to their being wholly a bullion dealer and not a rare coin specialist.
Goldco Complaints
Goldco complaints, though rare on the ground do exist and from looking at the most common complaints these seem to be down to small misunderstandings between individual brokers and clients.
They tend to be either in regard to metals purchased (proof versus bullion) or timescale of investments (gold works best in the mid to long term and during crises). Complaints are never about non-delivery, miss-selling or other more serious problems sadly common in the market.
Goldco has a strong customer care team and request all clients contact them with any complaints no matter how small before leaving reviews and this means the company can typically turn around grumbles or small issues to a client’s complete satisfaction, without affecting Goldco’s stellar 5-star and A+ ratings.
Complaints should be addressed to the Goldco email: support@goldco.com or by using the freecall number (877) 421-1239
Goldco’s Free Investor Kit
Goldco’s Gold Guide and Investor Kit Includes:
CLICK TO ORDER YOUR FREE KIT NOW
*Free Physical kit and silver coin strictly U.S. only. Qualified investors only. While stocks last. T&Cs apply, see website for details. Alteratively for details of any free offers mentioned, call Goldco on (877) 421-1239
E-commerce facility
Bullion Bars
Stephen Betts & Son
Physical Gold Ltd
Guy - Goldco Precious Metals – :
We’re in a lockdown and no gold dealers are selling despite prices being on a drop before the big pickup and I was almost despairing until I spoke to Goldco who DO have gold and are actually selling it so 10/10 for that what I’d have assumed was the #1 task of a gold dealer selling gold. Very helpful and good advice they gave I dont know why other gold dealers cant be selling gold but not only did Goldco sell but I was able to get 40k worth when others are limiting orders to nonsense like 5k which is crazy. Be healthy and stay safe its gonna get a lot worse before its better!!!
Harold D - Goldco Precious Metals – :
Happy with everything transaction went as smoothly as I’d hoped and Goldco were the height of professionalism at all times
Margaret P - Goldco Precious Metals – :
I had the pleasure of dealing with Goldco in a recent IRA transfer completed November 2019. Both advisors were absolutely top of their game, one on the IRA side and the other as an expert in gold and silver coins. I was out of the country for two weeks and they still got everything finished on time and earned every penny of their fees
Brad - Goldco Precious Metals – :
First class experience not pushy no harassment very happy all good
Patrick - Goldco Precious Metals – :
understanding and patient gave me much appreciated breathing space to get my affairs in order after divorce
Joan - Goldco Precious Metals – :
I was blown away with how helpful Goldco were when I was getting out of my 401k and into a self directed IRA. First up I wasn’t a big customer with my retirement account maxed out at $28k and despite this I was treated as if I was their top client. Nothing was too much, no question too stupid or worry not taken seriously. I really do have to take my hat of to the three agents I worked with from start to finish and the patience and understanding they showed me. There were firms I called up who told me they didn’t work with small scale investors and didn’t take me seriously and I now feel all Pretty Woman on them. Yes I only had a 28k account but I’m all on that one and when my husband moves over which he will then suddenly there’s a 10x on that. So once again thank you Goldco and as for ***** ****** it’s your loss LOL!
Christine - Goldco Precious Metals – :
Very satisfied with Goldcos professionalism. I must commend Rick Dougherty especially on his clear explanations and the patience he showed me when I bought some investment coins
Richard - Goldco Precious Metals – :
To be fair I was a little bamboozled after getting off the phone but I got a better explanation from Lauren. I just thought John was too fast a talker. Other than that great and proceeding with rollover now.
Cary - Goldco Precious Metals – :
A big thank you to Goldco representatives Reggie and Patricia Loya for the help they gave me rolling over my 7-year old IRA into a gold IRA. Perfect experience and I’m hopeful for good performance
Melissa - Goldco Precious Metals – :
Goldco helped me transfer my 403b into a self directed IRA and my broker Richard went so far above and beyond helping me it was ridiculous! I cannot be happier with the process and glad I went with this company
John Idaho - Goldco Precious Metals – :
I got a good deal on silver thank you Goldco Johnny Jim and Lauren
Francis - Goldco Precious Metals – :
Good company to work with very helpful and never pushy. Faultless service and all transfers went like clockwork. They know what they’re doing and it shows
David M - Goldco Precious Metals – :
Very professional outfit and honored a price I’d been quoted even after prices rose. My delay which was entirely my fault could have cost me over $400 but goldco were amazing
Katrina J - Goldco Precious Metals – :
My name is Katrina James and I wanted to write this to congratulate the employees and owner of Goldco Precious Metals on such a great business. I had never heard of using metals for my IRA before and when I did, I looked around for different companies who do this and how they do it. Goldco was the only one who stood out to me and to me it seemed the most secure. I live in the Reseda area and they’re not too far from me so whenever I have questions, I can always pop on by and ask them. The people that I talked to were very helpful and courteous. I didn’t even make an investment yet until the second call but they still treated me with such respect. I honor how gold and silver IRAs can save us from a bad economy and I suggest everyone to do their own research and give Goldco a call. Besides the amazing service, they definitely teach you a thing or two about the process. Thanks Goldco!
TM - Goldco Precious Metals – :
I organised a precious metals IRA with Goldco when they were Heritage Gold Group and I have to say I was pleased with their speed, service and costs.