Goldco Precious Metals ReviewIn this Goldco Precious Metals review, find out here unbiased view on this acclaimed precious metals custodian, and whether or not their services match your vision for retirement planning and Gold IRA investment. You’ will find out what we liked, what it offers and whether or not we recommend to do invest in gold with them. As an investor considering rolling over your retirement plan to Bullion gold or other currency than the Federal reserve dollar, it is paramount to choose a Gold IRA company that is reputable and one of which you can trust. Goldco Precious Metals has been one of America’s go-to, Inc 5000 custodians since 2006.
What is Goldco Precious Metals History?Goldco.com was incorporated firstly as Gerson Financial Group LLC. The intention of Gerson as a firm was to provide to the retirement marketplace B2B (business to business) sales of tangible assets such as precious metals. Trevor Gerszt, the founder, eventually purchased the firm as early as in 2011, amending the original name to finally Goldco Direct. Around the same time period, the company was starting making changes to its existing business model – that was, to highlight direct-to-consumer sales of precious metals, primarily Gold Bullion and coins, including Silver and Padallium.
The Services That Goldco ProvidesGoldco is a precious metals custodian. Custodians of this caliber are incorporated to look after, manage and protect others’ money. Goldco like other precious metal custodians support Gold IRA rollovers for both IRA and 401k, as well as non-IRA transactions. They also offer free storage for transactions that are NOT Gold IRA Rollover transactions, that is, if the customer would not like their assets delivered to their household. As well as tangible assets, Goldco also have a sister company which specialises in the cryptocurrency market as discussed above.
Step by Process of Goldco Precious MetalsThe Step-by-step process for negotiating a precious metals purchase with Goldco is the following: From your first contact with them to eventually completing the rollover, you speak to a representative of Goldco. When they agree to move forward with your application, you will either be directed to a Specialist in IRA plans or book in an appointment with them. Your IRA Specalist will accumulate all the information needed to finalise your application on your account and will transfer the funds to you. Once the funds are received into the new account, the customer will speak with their Account Executive to choose the metals to be purchased and held in the IRA; the metals will be placed directly into the account at the customer’s chosen depository for storage within a few days if the metals are in our existing inventory, or 3-4 weeks if they need to be ordered.
Precious Metal Storage OptionsPrevious investors at Goldco have reported that when rolling over their 401k/IRA with them, they provide the following secured storage options – so you can see and hold the real gold that you own.
The DDSC is a preferred storage option — $100 for non-segregated; https://www.bgasc.com/delaware-depository-precious-metals-depository
You can also choose to have storage in Brinks Salt Lake City — $100 for non-segregated option, but the IDS in Texas which is $150, offers segregated only.
Minimum InvestmentLike all precious metals custodians you will discover, Gold IRA Rollovers do not come at a low price compared to non-IRA purchases. The minimum investment for a IRA or 401k/Roth comes at $20k. But for non-IRA purchases, the minimum is $3,500. Therefore if you are just starting investing in your retirement, a non-IRA purchase with Goldco may be the right place to start.
Fees BreakdownBut what are the fees associated with Goldco Precious Metals? Are there any “Upsells”? Well, to start – there is an initial $50 set up fee. This is to open your self directed precious metals account. For your Gold IRA account, there is a annual $100 storage fee (this is for non segregated storage) but for segregated storage this fee is $50 dollars higher being $150 per year. So it is up to you if you’d prefer the extra rate for segregated storage. Additional fees include a $30 wire fee. So, the summary of fees are (minus your investment):
- $50 set up fee
- $100 annual Gold IRA fee (non segregated storage)
- $150 for segregated storage
- $30 wire transfer fee
Verified Ratings and Reviews of GoldcoIt is worth mentioning that Goldco as a Precious Metal Custodian has been accredited by the BBB (the Better Business Bureau) But not only has it been accredited by the government, it has also been given the highest rating possible, an A+ Rating. It really doesn’t get much more securer than that! On the Better Business Bureau website, here are some comments from verified investors who have done business with Goldco to diversify their retirement portfolio:
VaultsAs mentioned under the Precious Metals Storage Options section, Goldco use secure, fully insured depositories against every eventuality. If you decide to use a service such as Brinks, you can see the gold or precious metals you have rolled over to any time.
Buyback program?One of the crucial factors of dealing with Gold IRA companies is this: “Is there a buyback program?” According to Goldco’s CEO, they explain that they as a custodian will require you to buy back the metals you purchase when you want to liquidate. This is because they explain the customer will most likely get a better price from Goldco; compared to just a random broker on some boulevard who tries to take advantage of investors pitching a low offer. The CEO explained investors don’t have to sell them back to Goldco; but that they have full choice in the matter.
What We Didn’t Like About GoldcoAlthough we liked a lot of the features and services that Goldco has to offer for retirement planning, it has to be mentioned that there were some parts of the firm that didn’t live up to our expectations. 1. There isn’t much feedback on Goldco There is positive ratings on the BBB from Goldco, however by further investigation there appears to be a lack of further testimonials from others that use Goldco’s services. For investors looking for that extra reassurance before making the first call, this can strike as unsatisfactory as they would like to see more customer reviews. 2. Think carefully about cryptocurrency investment If you decide to rollover your IRA with Goldco, from our side – we recommend that you rollover to the time-tested valuable asset of Gold Bullion. Because gold has been used as currency for thousands of years, it only makes sense to invest savings into such asset class. Bitcoin and cryptocurrency is on the rise, but it is still NEW. There are a lot of schemes out there surrounding Bitcoin, but other competing firms such as Regal Assets offer this type of plan.
What separates Goldco from other companies?In summary, Goldco has to offer:
- Bank Secure, Precious Metal Storage Depositories
- A Pressure-Free Service
- A solid history in the Financial Services and Precious Metals industry
- A secure, A+BBB Rating
Goldco Review Video
Watch this video to learn more about Goldco’s Gold IRA services and portfolio choices.