By Doug Young

Doug YoungI have over twenty years of personal experience related to precious metals and gold IRAs, and during that time I have thoroughly evaluated many different gold IRA companies.

Here, I am sharing with you my evaluation of Goldco, passing onto you the results of my extensive research, and concluding with my opinion of whether I consider them to be a suitable and trustworthy choice for your gold IRA.

Goldco’s Mission Statement: Goldco state that their mission is to educate Americans about the importance of safeguarding their retirement and to make it as easy as possible for them to use precious metals to protect their retirement portfolios from inflation, stock market volatility and economic uncertainty.

Review Summary: Extensive research led me to conclude that in all aspects of their business Goldco are very well set up to achieve their mission objectives, and it is evident to me that from the amount of satisfied customers they have, that they are succeeding.

 

‘At a Glance’ Analysis

 

Website https://goldco.com
RATINGS:
BBB Rating (Scale of A+ to F)
BBB Customer Ratings
BBB Complaints
BCA Rating (Scale of AAA to F)
BCA Complaints (last 3 years)
Trustlink Rating
RETIREMENT FUNDS:
Gold IRAs Offered (US)
Crypto IRAs Offered (US)
Gold RRSPs Offered (Canada)
GENERAL:
Preferred Depository
Preferred Custodian
Minimum IRA Investment $25,000
Physical IRA Application
Digital IRA Application
FEES:
Goldco Official Fees Statement – Updated December 2022 View Statement
TIMESCALES:
IRA Transfer Process as fast as 2 days
401k Rollover Process 2 to 4 weeks
Delivery of Metals In stock: a few days
New order: 3 to 4 weeks
PEACE OF MIND:
US Mint Listed Dealer
ICTA Member
TRUST Pilot
ethics.net
SPECIAL OFFERS:
New Customer Incentive
Website:

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Goldco

How Goldco Has Evolved

Goldco Direct, LLC is a Los Angeles-based precious metals trader with an emphasis on wealth and asset preservation. They were founded by Trevor Gerszt over a decade ago. Initially, they focused mainly on direct cash deals as opposed to IRAs.

When I checked recently at Inc. 500, I found that Goldco is ranked at #320 and is described as ‘A precious metals company focused on helping customers invest in gold and silver’.

When I contacted Goldco and asked them to define their current business model, they informed me that that nowadays 80% of their business is in IRAs and 20% is in non IRAs, meaning of course that IRAs are now their main business.

Founder

Trevor Gerszt 

Trevor Gerszt

Trevor has spent more than two decades researching strategies to assist individuals in accumulating long-term wealth using the stability and security of precious metals and other alternative investments.

As a small child in South Africa, on vacations and his birthday he regularly received silver dollars. Because he was so taken by the way these coins felt, looked, and sounded, gathering them became one of his favorite pastimes.

Later, as a young adult he came to the conclusion that his father might not have been making the soundest financial decisions for his family.

Consequently, he began working at a young age and he soon found that he had a propensity towards hard work, earning money, and creating plans for the future. Upon examining his chosen professional path, which is in the financial sector, he realized that precious metals were a perfect fit for him.

It has allowed him to combine his love of collecting coins from his youth with his ability to offer a beneficial service that promotes financial stability and wealth preservation.

Source: https://medium.com

Reputation

I was impressed overall with the way that Goldco stands out for its dynamic growth and national recognition, and specifically with the following noteworthy attributes:

  • They were ranked in 2015, 2016, 2017 and 2018 by Inc. Magazine on their Inc. 5000 list of the 5000 fastest growing private companies in the country
  • Goldco is endorsed by Stew Peters, the American alt-right internet personality and political commentator.

Having extensively monitored their growth and development, I can understand why Goldco have gained a solid reputation for providing excellent customer service and educational resources.

Ratings

Goldco have exceptional ratings at independent consumer review sites. My experience of evaluating many different gold IRA companies over the years has taught me that ratings on these types of trusted portals are an excellent barometer of a company’s performance, both past and present.

My findings as of :

BBB – Better Business Bureau 

  • At the BBB (Better Business Bureau) Goldco are an Accredited Business with the maximum A+ Rating and 4.8 out of 5 Stars based on 770 Customer Reviews

The Better Business Bureau (BBB) ​​is a reputable nonprofit organization that has been helping individuals discover trustworthy businesses for over a century. The BBB is a valuable resource for consumers, giving them the ability to judge companies based on the experiences of others. The BBB supports a free and open market for everybody by preserving the highest standards of ethics and professionalism.

BCA – Business Consumer Alliance

BCA ratings are calculated using a complex formula that combines several key factors, including the nature of the business, how long it’s been in service, compliance with licensing requirements, complaint history and overall industry experience. All these factors are evaluated when determining a company’s credibility. The system is designed to provide a comprehensive and accurate assessment of a company’s reliability and assist consumers in their decision-making process.

Trustlink 

  • At Trustlink Goldco have a 5 Star Rating based on 254 Customer Reviews

TrustLink is a respectable platform committed to creating trustworthy interactions between companies and customers. It’s dedication to checking out the authenticity of evaluations is one of its distinguishing characteristics. TrustLink ensures that the people leaving reviews are actual clients of the businesses they have evaluated. Users are able to make informed decisions based on real experiences thanks to the additional legitimacy and trustworthiness that the verification process brings to the reviews.

Trustpilot

  • At Trustpilot Goldco have a 4.8 out of 5 Stars Rating based on 1265 Customer Reviews

The Trustpilot digital platform enables companies and customers to collaborate and build trust. It is accessible to everyone, free to use, and based on transparency. As well as helping consumers purchase with confidence, Trustpilot offers companies important data to help them improve the services they provide.

Consumer Affairs

  • At Consumer Affairs Goldco have a 4.9 out of 5 Stars Rating based on 1685 Customer Reviews

Consumer Affairs is an impartial consumer watchdog website with a great reputation. It provides a platform where people can obtain and assess genuine consumer feedback, assisting them in making well-informed decisions.

Google My Business 

  • At Google My Business Goldco have a 4.9 out of 5 Stars Rating based on 2244 Customer Reviews

One of the most widely used review systems worldwide belongs to Google. The Google review system provides users with a simple and quick way to share their opinions and give feedback on various products and services. Utilizing the capabilities of this well-known platform, individuals may help create a trustworthy and transparent information center for other customers.

Ratings Comparison

In the table below I have compared for you Goldco’s ratings at independent review sites with the ratings of other leading Gold IRA Companies I have reviewed

 

Gold IRA Company

 

BBB

 

BCA

 

Trustlink

 

Consumer Affairs

Goldco A+ AAA 5 out of 5 Stars 4.9 out of 5 Stars
Augusta Precious Metals A+ AAA 5 out of 5 Stars 4.9 out of 5 Stars
Advantage Gold A+ AAA 5 out of 5 Stars 5 out of 5 Stars
American Hartford Gold A+ AAA 5 out of 5 Stars 4.8 out of 5 Stars
BGASC A+ Not Listed Not Listed Not Listed
Birch Gold Group A+ AAA 5 out of 5 Stars 4.9 out of 5 Stars
Blanchard & Company A+ BBB 1 out of 5 Stars Not Listed
Goldline A A 2.5 out of 5 Stars Not Listed
Rosland Capital A+ AAA 3.5 out of 5 Stars Not Listed

Reviews and Complaints

Positive Reviews

The vast majority of the Goldco Reviews I found (and there are many) are positive. I discovered that customers seem to particularly like:

  • The way Goldco handles all the paperwork involved in setting up a new Gold IRA and does all the liaisons with the custodian and depository on the customer’s behalf
  • The way the Goldco representatives take time to discuss and evaluate each customer’s circumstances, needs and retirement goals before recommending which metals to include in their new IRA
  • Goldco’s customer service, the professionalism of their staff and the ease of doing business with them

Complaints

Naturally, when you have been in business the number of years that Goldco have you cannot satisfy every customer. During my research I didn’t find many complaints however and importantly those I did find have been dealt with and resolved in a timely manner.

I noted that the majority of the complaints are connected with the misunderstanding of how the values of precious metals are calculated, particularly in the case of collectible coins. In some of these instances I noticed that the negative comments have been updated to positive ones after Goldco have explained to the customer how initially the listed value of these coins is the melt value (i.e. how much the melted coin would be worth) whereas the coin value is separate to the metal value.

Ratio of Positive To Negative Reviews

Overall I found 93% of the reviews to be positive which is very high percentage.

Below are screenshots of some of the Goldco reviews I found at well-respected independent business review sites:

goldco review 1goldco review 2goldco review 3

VISIT GOLDCO  >>

Services Offered

I reached out to Goldco’s Customer Service department to find out more about the services that they offer. The lady whom I spoke to was very knowledgeable about what the company has to offer, and it was clear to me as an authority in the field that she was also experienced in both precious metals, and IRS regulations governing the inclusion of precious metals in a retirement account.

Gold/Precious Metals IRAs

Goldco will help you set up a Gold or Silver IRA or a combination of both, liaise with their preferred Custodian, Equity Trust Company on your behalf, help you identify which precious metals are right for you, assist you with the purchase of your IRS approved metals and arrange storage of them at an approved depository, thus ensuring that you are fully compliant with IRS regulations.

Cash Sales of Precious Metals

Goldco will help you identify which precious metals are right for you, assist you with the purchase of them at competitive prices and arrange secure and insured delivery to your choice of either a secure vault or your home. Delivery and storage is free of charge. Sales are limited to the United States. There are no international sales available.

In addition to their core services referred to above, I was pleased to discover that Goldco will assist you with:

401k Rollovers

    • they will help you rollover your existing IRA into a Precious Metals IRA

Procedures For Simple IRAs

    • they will guide you on opening a Simple IRA and explain the rules and procedures for gold and/or silver Simple IRAs

Procedures For Sep IRAs

    • they will provide you with assistance and education about matters such as contribution limits and eligibility for SEP IRAs

Procedures For Roth and Traditional IRAs

    • they will provide guidance and education for comparing Traditional and Roth IRAs and assist you with rolling them over into a Precious Metals IRA

What Is a Precious Metals IRA?

  • A Precious Metals IRA (more commonly known as a Gold IRA) is a Self Directed IRA account which allows you to diversify your retirement investments by including physical precious metals (gold, silver, platinum and palladium) just as you would include, for example, stocks or bonds in a conventional IRA.
  • You can rollover or transfer an existing retirement account into a Precious Metals IRA and continue making permissible annual contributions.

Why Choose a Precious Metals IRA?

  • By having a retirement account that includes precious metals you are protecting your investment portfolio against inflation and market volatility or crashes that could cause havoc with your hard earned savings.
  • Gold and silver have a reputation as being a ‘hedge’ because when markets fall and inflation rises they tend to go up in value. Therefore, by including gold and/or silver as a percentage of your investments you are balancing out your portfolio and reducing risks.

Gold Quote

Physical metals shouldn’t be looked at just as an investment.

You also want to look at them the way you look at your home owner’s insurance, health insurance and auto insurance.

Precious metals are your financial insurance

– Goldco

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The Goldco Gold IRA

Gold IRA Transfer/Rollover Process

I found the step by step process from your initial contact with a Goldco precious metals specialist to your metals arriving at the depository to be very straightforward, and that Goldco will hold your hand throughout the entire process.

I noticed that many customers mentioned in their reviews that they particularly liked how Goldco handled all the paperwork and liaising with third parties on their behalf throughout this process.

Step 1

You speak to a rep and once you decide to proceed you will either speak to an IRA Specialist there and then or arrange a phone appointment with one for another time. The Specialist will gather the required information for completing the application to establish your account and for transferring your funds

Step 2

Once the funds have arrived into your account your Account Executive will help you choose, in line with your personal circumstances, the best metals to be purchased and held in your new IRA

Step 3

Your metals will arrive at your chosen depository for secure storage a few days later if the metals are held in Goldco’s existing inventory, or within 3 to 4 weeks if an order has to be made

Notes

  • I consider it worth pointing out that as per standard practice when opening financial accounts, you will be required to provide personal information such as your social security number.
  • If you do not already have a precious metals custodian or preferred depository Goldco will help you to set up accounts with their recommended strategic partners.
  • To initiate the process Goldco will mail or email to you a comprehensive investment guide which will include information about the precious metals options for Gold IRAs. This will help you decide which precious metals to include in your new IRA.

GET STARTED WITH A GOLDCO GOLD IRA >>

What Makes Goldco Unique?

what makes goldco unique

As part of my research I set out to discover what Goldco are doing differently to their competitors. This is what I discovered:

  • Top Ratings
    They have one of the best overall ratings in the industry (this is more difficult to maintain the longer you’ve been in business, and Goldco have been in business for 15 years)
  • Specialism
    They have specialists in every different aspect of their business (not jack of all trades like some companies
  • White Glove Service
    They offer what they refer to as their ‘white glove service’ for IRAs. This encompasses expert assistance from beginning to end, a streamlined process with customers’ hands held every step of the way, knowledgeable, experienced reps, and strategic business relationships with the most reliable and experienced custodians and depositories)
  • Customized Service
    Their staff are trained to discuss and evaluate your individual circumstances before recommending which metals to include in your Gold IRA. The purpose is to create the most suitable portfolio of precious metal assets, based on your capital, needs and retirement goals
  • Free Services
    For cash sales they include free, prompt delivery and free storage
  • Competitive Prices
    They offer Competitive pricing across the board with no ‘pushy’ sales people
  • Special Promotions for new IRA customers
    Goldco give up to 5-10% back in FREE silver (up to 5% on $50k-$100k investments, up to 10% on investments of $100k+ with no maximum)
    What this means to your pocket: If you were to open a new Gold IRA account with $50,000, as an example, you would receive $2,500 worth of free silver. If you were to invest more, the savings you would make and the free silver you would receive would be correspondingly more as well.
  • Specialist Buy Back Department
    Goldco have a dedicated department for their Buy Back Program in which they offer their customers who wish to liquidate their metals very competitive prices and a very streamlined process
  • First Class Education
    They offer extensive educational resources. These include a blog, ebooks, videos and live price trackers, all backed up by customer support

Fees

In December 2022 Goldco released an updated Official Fees Statement. They insist that for compliance purposes any party displaying their fees must display this Statement only, with no changes, no additions and no subtractions.

Competitors’ Fees

Although I cannot include Goldco’ fees for the above reason, I have created this table so that you can see in one place what fees their competitors charge:

Gold IRA Company Set Up Fees  

Admin Fees (annually)

 

Storage Fees (annually)

 

*Fee Type

Augusta Precious Metals $50 + $30 wire fee $80 $150 for segregated
$100 for non-segregated
Flat
Advantage Gold $295 $175 $100 Flat
American Hartford Gold $50 $100 $150 for segregated
$100 for non-segregated
Flat
BGASC Not divulged Not divulged Not divulged Not divulged
Birch Gold Group $90 Not divulged $160 Flat
Blanchard & Company $25 $60-$250 (scaled) $100 (scaled) Scaled
Goldline $125 $60-$250 (scaled) $100 (scaled) Scaled
Rosland Capital $50 £225 Not divulged Flat

*Fee Type explained

Flat fees are always the same amount irrespective of the value of your retirement fund. Scaled fees are calculated as a percentage of your fund and therefore increase as your fund grows. Flat fees are the preferred option for most investors as they nearly always work out less over time.

Frequently Asked Questions (FAQ)

Based on some of the pertinent information I discovered when researching into Goldco, particularly the most common topics discussed by their customers, I have compiled the following Q & A:

FAQ

  • Is there a minimum investment level for a Goldco Precious Metals IRA?

    Yes, $25,000

  • What Precious Metals do they provide?

    Gold, silver, platinum and palladium

  • Can I add precious metals that I already own to a Goldco IRA?

    No, the precious metals included in a Goldco Precious Metals IRA have to be purchased through Goldco

  • Do they provide their own custodian and storage services?

    No, but they will help customers to set up such services through their recommended strategic partners with whom they have strong working relationships

  • Do I have to use their recommended custodian and depository or can I choose my own?

    You have the option to choose your own

  • What types of retirement accounts can I rollover into a Precious Metals IRA?

    401k
    403b
    Roth 401k
    Roth 457b
    Traditional IRA
    Roth IRA
    SEP IRA
    SIMPLE IRA

  • What types of gold can I include in my Gold IRA?

    American Eagle
    American Eagle Proof
    Australian Saltwater Crocodile
    Buffalo
    Gold bars
    Lucky Dragon
    Maple Leaf
    Royal Mint Gold Lunar Series coins

  • What types of silver can I include in an IRA?

    American Eagle
    American Eagle Proof
    Australian Saltwater Crocodile
    Bald Eagle
    Lucky Dragon
    Maple Leaf
    Silver bars
    Royal Mint Silver Britannia Lunar Series coins
    Silver World War I
    Silver World War II Victory

  • How long does the process take to open a Precious Metals IRA?

    2 to 3 weeks on average

  • How long does it take to rollover a Traditional IRA into a Gold Precious IRA?

    Usually approximately 2 weeks, but Goldco do stress that it is very much case by case

  • Do Goldco sell precious metals without a Gold IRA?

    Yes, they will sell you gold and silver and deliver it to your nominated destination

  • Is it true that Goldco give new IRA customers free silver?

    Yes. As a Special Promotion they give customers who open a new IRA up to 5-10% back in FREE silver (up to 5% on $50k-$100k investments, up to 10% on investments of $100k+ with no maximum)

  • Will they buy back my metals when I want to liquidate?

    Yes, in fact Goldco urge their customers to give them first refusal as they have a dedicated Buy Back Program and Department. Many customers have reported that their prices are reasonable and competitive

Pros and Cons

High Percentage of Positive Customer Reviews (93%)

No Custodian and Storage Services (However They Will Help Customers Set Up Such Services Through Their Recommended Partners)

Exceptional Customer Service With Highly Qualified Staff

You Can’t Add Gold or Silver You Already Own to Your Goldco IRA

Ranked Among the Top 3 Precious Metals Companies By Multiple Sites

Combined Gold/Crypto IRA Not Offered

Their Gold IRA Process is Streamlined, Quick and Easy. They Complete All The Paperwork For You

No International Sales – U.S Only

They Treat Each Customer As An Individual. Their Expert Advisors Evaluate Your Circumstances, Objectives and Retirement Goals Before Making Any Recommendations

You Can Have Unlimited Phone Consultations

They Provide First Class Educational Resources

They Have Top Ratings On The Major Review Portals

Low (Flat) Annual Fees

Competitive Buy Back Program With Dedicated Staff

They Give Up To 10% In Free Silver To Qualifying Accounts (To New IRA Customers: up to 5% on $50k-$100k investments, up to 10% on investments of $100k+ with no maximum)

Who Are Goldco Best Suited For?

My evaluation is that Goldco is a good fit for:

  • Those who wish to invest in precious metals, either within or outside of an IRA
  • Those who are concerned about economic uncertainties, market volatility, the government printing more and more money, rising inflation, the ever increasing National Debt, devaluation of the US dollar… and they wish to protect their wealth from any or all of these
  • Those who are nearing retirement age and don’t want to spend their twilight years forever fearful of financial crises which could cause their pot to run dry

Goldco’s precious metals IRAs offer a tax-advantaged investment vehicle for investors who wish to save for retirement, in the same way that traditional and Roth IRAs do.

Goldco vs. Competitors

My 3 Best Gold IRA Companies

Gold IRA Company My Rating Best For Find Out More
Best Overall Augusta Precious Metals ZERO BBB and BCA Complaints Ever Read Review
#2 Goldco High Percentage of Satisfied Customers Visit
#3 American Hartford Gold Best Gold IRA Newcomer Read Review

Summary

Your retirement investment portfolio, including IRAs, is there to keep you going for many years after you stop working and therefore changes to these should always be carefully thought through. Mistakes could be very costly.

Goldco has a wealth of experience in precious metals, precious metals IRAs, retirement planning and IRS regulations. This experience enables them to help investors make informed decisions when it comes to planning for their retirement.

My Verdict

Following in-depth research, I found that Goldco has a solid reputation, is highly rated and has many happy customers.

As someone with extensive expertise and experience with precious metals and gold IRAs, and having evaluated many different gold IRA companies over the years as a benchmark, I consider Goldco to be a trustworthy option for investors looking to diversify their portfolios with precious metals.

My recommendation is that Goldco is certainly worthy of consideration for your Gold IRA. They didn’t quite make it to the top of my list as my Top Pick, but they came a very close second.

I encourage you to visit different gold IRA companies’ websites, to explore their products, and to conduct your own research before making any investment decisions.

My Rating

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How To Speak With a Company Representative

  • The easiest way to speak with a Goldco representative is to request their FREE GOLD IRA KIT. Just fill in the form on their website which simply asks for your name, email and phone number.
  • Once you submit the form one of Goldco’s friendly Gold IRA and Retirement Planning experts will call you to check your mailing address for the Kit and to answer any questions that you might have. Make sure that you leave the best ‘phone number for them to reach you on therefore.

If you submit the form outside of business hours Monday thru Friday or at weekends they will contact you the next working day.

Tip: I realized that it’s a good idea to jot down your initial questions in readiness so that you don’t forget any of them when the Goldco representative calls you.

The team of experienced experts at Goldco has conducted a thorough review and verification process to ensure the utmost accuracy of this article.

See Also:

Augusta Precious Metals vs Goldco

About the Author: Doug Young

Doug YoungDoug is a highly experienced professional and widely trusted authority in financial investing, commodity trading, and precious metals. With over 20 years of expertise, he helps others make informed decisions by sharing a combination of personal experience, extensive knowledge and meticulously researched information on gold IRAs, precious metals investing and retirement planning. He regularly writes and publishes news items on these topics. He has considerable experience of evaluating Gold IRA and Precious Metals Companies, gained over a period spanning more than a decade.

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