Are you seeking a reliable method to protect your precious metals investments from a volatile stock market price but still incapable to secure one? Well, there is a popular proverb that was quoted by Mr. Benjamin Franklin that goes by ‘there is a place for everything and everything in its place,’ which means that the best way to stay well organized in life is by keeping things in their correct places. By all means, this saying is undeniable true because Goldco Precious Metals might be the helpful safe haven for your gold and silver.
In this article, I will do reviews of this leading provider of precious metals IRAs that is quite prominent in the investment industry for having delightful customer service in helping individuals diversify their retirement accounts. So, why Goldco out of all things? Let’s take a closer look.
All and About Goldco Precious Metals
Goldco Precious Metals or also known as Goldco specializes in precious metals, gold IRA and 401(k) transfer who also sells precious metals directly to clients. The founder and CEO of Goldco Precious Metals are Trevor Gerszt, which its main headquarters is located in 21215 Burbank Blvd Suite 600, Woodland Hills, California. He is a precious metals dealer based in Los Angeles specializing in wealth and asset protection. Goldco started back in 2006, but the company’s executives have over 100 years of combined experience in the precious metals industry. Unlike other gold IRA companies, its operations are transparent and it owns an IRA rollover process that is unruffled and stress-free.
In 2015, Inc. Magazine has named this company as the third fastest-growing financial services for being able to offer a range of investment accounts in the United States. Besides that, Goldco was also named as the 17th fastest-growing company in the greater Los Angeles Area by the Los Angeles Business Journal. Another recent award that Goldco has acquired is the winner of a Gold Stevie Award as Company of the Year during the 19th Annual American Business Awards in April 2021. Judges have given positive praises to Goldco for being excellent and able to offer clients exemplary service for those who are interested in diversifying their retirement portfolios.
Overall, this award-winning company’s prime mission is to help Americans in protecting their retirement accounts from stock market unpredictability and inflation through the usage of precious metals.
Accessible Services Provided by Goldco
Goldco provides two main services that are precious metal IRAs and direct purchases, and another company that deals and manages with cryptocurrencies. Here are the details about the services that Goldco offers:
Precious Metals IRAs
You are eligible for a traditional IRA if you have an income and are aged under 70 and a half. Basically, you can get a gold or silver IRA, or even a combination of both. By following the IRS rules and regulations, these precious metal IRAs will be put inside a third-party vault for storage. Plus, the preferred IRA custodian is Equity Trust Company.
Non-IRA Precious Metals
If you are not interested in getting gold silver IRA, you can still purchase gold or silver with this company’s preofessional help, and what makes it easier, there are no age or income requirements. In this matter, after you purchase the precious metals, you can either keep them in a secure vault or have them delivered to your home address, or it just depends on what kind of helpful service that works for you.
Goldco owns a sister business company that is known as CoinIRA. It specializes in cryptocurrency IRAs and it is suitable for investors who are interested in digital currencies.
You may question why this firm has the best services?
Generally, Goldco’s services own its capability to plan a portfolio specific to individual desires. It varies from many of its opponents because they are far more absorbed in providing a practical way to invest money than simply providing assets. Rather than simply providing investors with the purpose of investing in funds, they seek to bargain a functional solution to the most complex investment inquiries. But this article review doesn’t end here as we will explore a deeper understanding of why this award-winning company is considered the best choice.
The Process of Investing with Goldco Precious Metals
Goldco is very alert when it comes to managing consumers needs based on individual retirement goals. Their outstanding and dependable customer support shapes a good reputation of high trust and reliability that consumers needed the most. There are few ways that you need to follow when you want to invest with them.
1. Creating an account
Contact Goldco’s customer service team to schedule a phone call with one of its sales representatives.
2. Transfer funds
Roll some or all of your existing retirement account funds into your Goldco precious metals IRA, at least $25,000 to open an account.
3. Select your precious metals
Choose the coins and bars you would like to add to your account from Goldco’s catalogue.
4. Precious metals storage
Place your order sales to have your metals shipped to one of Goldco’s depository locations.
As the account broker, Goldco will buy precious metals on your behalf and acts as the account administrator. Then, your metals will be shipped to one of its six partner depositories where your metals will be safely stored. When the time comes for you to cash out, you can sell your metals back to Goldco or a third-party dealer.
Apart from that, business investors are also welcomed to establish a new account or roll an existing IRA or 401(k) into a Goldco gold silver IRA. But still, you need at least $25,000 to open an account.
All in all, always remember that Goldco acts primarily as a broker when it derives to buying and selling precious metals. They are not custodians of the actual IRA account, but they are professionals who can guide you in your retirement account with a custodian bureau. Besides that, they will also manage the sales of precious metals along with the custodian and storage facility. Management services are as well offered the rollover of existing retirement accounts in a Precious Metal IRA.
This award-winning company often uses the term “as low as” to showcase how affordable their services can be. The fees can be extracted into two types of fees that are by precious metals IRAs and non-IRA transactions.
As for the precious metals IRAs, the price for its one-time fees cost $50 for the setup fee for IRA and $30 for the wire fee. Meanwhile, the annual fee for the maintenance fee is $80, and the storage fee is $100 for non-segregated or $150 for segregated. Overall, this precious metals IRA starts at $260 per year. However, if you want to acquire a self-directed roth IRA with segregated storage, you need to pay an extra $50 and you will pay $310 the first year and $230 in the next years.
As for the Goldco fees for non-IRA transactions, believe it or not, there are zero fees. Yes, they do not charge any tax or hidden charges with non-IRA transactions.
But, don’t get too jiggly due to that one thing because you need to take into account the minimum money too. Keep in mind that the precious metals IRA requires at least $20,000 to $25,000, meanwhile the non-IRA transactions require $3,500 for their minimum investments.
The Perks of Using Goldco
Goldco assures customers to extend their knowledge on the subject by providing a wide-ranging education centre that can be found on their site. In this matter, investors and those who are looking to open a Gold IRA can access blog posts, e-books, and videos covering a variety of investment topics and issues. Furthermore, interested clients can also download their “Self-Directed IRA Guide” on the website for a summary. Also, just by phone call process with a professional IRA specialist through the contact number provided on their site.
Another benefit that Goldco offers to its customers is professional hands-off investing. Basically, with Goldco gold or silver IRA, your account administrator sends you a business catalogue of available coins and bars, and you will get to select what you would like to purchase through it. The next benefit is maintaining a solid reputation. In this situation, Goldco professional aid will be very helpful in maintaining a strong online reputation across several reputable review platforms including the Better Business Bureau (BBB).
For a better business, Goldco has two special offers for new customers. By this mean, they get all fees waived on the first year when you open an account with at least $50,000 and you will get to earn another $5 back in free metals when you place a qualified order over $50,000. Hence, it is helpful because you could save up to $320 in fees and have a total of $2,500 worth of free metals depending on which ones you purchase.
The Rip-offs of Goldco Precious Metals IRA
Be mindful of these drawbacks when you plan to open an account with Goldco.
1. Lack of transparency.
Goldco is not be made available or needed when it comes to what it charges its account holders.
2. High minimum deposit.
Goldco acquires you to at least own $25,000 to open a Goldco gold or silver IRA, which is more expensive than the $5,000 minimum required by some of Goldco’s opponents.
3. No add-on to existing precious metals.
Any assets that you want to add to your Goldco IRA, must be purchased through Goldco Precious Metals.
Does Goldco Fits You?
As we are getting deeper into the topic, you might question yourself, does Goldco fits you well? Is it a sign for you to invest now? Well, if these define you, then you may be a good fit.
1. You have the desire to own Gold IRA.
Nowadays, many companies could be at stake in closing their doors at any moment, but precious metals will be around forever as they will always have value.
2. You don’t want to get affected by the stock market volatility.
If the stock market makes you unsettled, then precious metals are such a good investment for you because gold and silver tend to rise when other types of investments tumble.
3. You are retiring and worry about a financial crisis.
If you are retired or are nearing retirement, precious metals improve constancy to your monetary finance as it can be an excellent investment for bringing balance to your assets.
Goldco Reviews and Complaints
After doing an in-depth review by reading the feedback and complaint on Goldco’s official website, I can sum it up by saying that Goldco received a number of reviews.
As of October 2020, it’s an accredited business with the BBB and receives a 5- out of 5-stars rating after 49 customer reviews. On the site TrustScore, it has 4.7 out of 5 stars based on the feedback of 523 investors and has no complaints to its name on the Consumer Financial Protection Bureau.
One of the verified customers known as McKinney has rated 5 out of 5 stars on the Trustpilot review website. There, he explained that he was skeptical at first to start investing with Goldco, but after receiving good guidance from his representative, he went through with the transaction and later explaining that the direction he received was top-shelf and he was satisfied. Meanwhile, on Google review site, a customer known as Kei explained that he and his wife were very concerned about their finance after retiring, they were anxious about their future goals to get a good retirement account. Eventually, the representative has answered all of their doubts with a detailed and thorough answer. Hence, the perfect number of star and reviews meant that they are satisfied over getting a helpful and knowledgeable roth IRA specialist team who works directly with your IRA custodian to get your funds rolled over.
For complaints or any negative reviews, it is hard to find. This situation proves how reliable and amazing they are in handling and managing their customers. However, there are still one to three customers that call out complaints by giving only 3 stars rating, eventually, their so-called complaints were still considered good.
To conclude, I can confidently say that if you are seeking a reliable and helpful investment that can offer constancy to your portfolio, consider Goldco, which focuses more on helping you classify which precious metals are suitable for you. Be it an IRA or direct purchase, your future definitely can’t go wrong with Goldco. There are many retirement savings out there that are helpful and will offer you the best deal, but if you haven’t done any research your finance might be at risk.