August 2, 2022

Goldco Precious Metals Review

Read more about Goldco
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. You help support CreditDonkey by using our links. (read more)

Goldco Precious Metals is a popular provider of gold and silver IRAs. But how high are the fees? And is it right for you? Read on to find out.

Goldco
Free Gold IRA Kit

Overall Score

4.1

Minimum Deposit

3.5

Customer Service

5.0

Gold IRA

4.0

Fees

3.0

Safety

5.0
5-point scale (the higher, the better)

Pros and Cons

  • More gold coins than competitors
  • Educational resources
  • A+ BBB rating
  • $25,000 min
  • Higher transaction fees

Bottom Line

Very reputable Gold IRA account, but fees are higher than competitors

Precious metals are a unique investment. Unlike the stock market, you can physically touch them.

Just as important, their price isn't correlated to the stock market. This makes them a hedge against a 100% stock portfolio.

With Goldco Precious Metals, you can invest in gold and silver in a tax-advantaged retirement account.

But they're not the only reputable gold IRA provider. What are the fees? Minimum requirements? And are they right for you?

In this detailed Goldco review, you'll learn everything you need to know.

What is Goldco?

Goldco Precious Metals, also known as Goldco, is a precious metals IRA provider. They're based in California and were founded in 2006 by Trevor Gerszt.

They offer a few main services, including a Gold and Silver IRA. You can also purchase precious metals directly from a selection of gold and silver coins and bars.

But they do have a fairly steep account minimum of $25,000 with a cash purchase. To roll over your IRA, you'd need at least $100,000. This may put their IRAs out of reach for some investors.

Looking for a lower minimum investment? Patriot Gold Group offers the chance to invest in a precious metals IRA with only $25,000. Read the head-to-head comparison below.

Goldco does offer the ability to roll over any type of existing retirement account, including IRAs or 401(k), 403(b), and TSP accounts. You can also roll over a savings account.

Would you roll your retirement savings into a gold IRA?

Goldco also has a solid reputation with users. It boasts an A+ rating with the Better Business Bureau, as well as a AAA rating with the Business Consumer Alliance.

Further down, you'll learn about their features and fees and the specifics for their precious metals IRA accounts.

Goldco Features

  • Competitive prices
  • Helpful educational resources
  • Rollovers are easy + no fees
  • High minimum investment
  • Flat rate fee more expensive for lower balances

Let's take a detailed look at each feature Goldco offers its users.

Gold and Silver IRAs

Goldco Precious Metals' primary service is offering users gold and silver IRAs. These tax-advantaged investment accounts allow you to invest in gold and silver for retirement.

Setting up a precious metals IRA with Goldco is easy. You can get started by visiting their website and signing up. Or you can request a free informational kit.

Once you've signed up, you can fund your gold or silver IRA with Goldco by rolling over an existing retirement account. Any tax-advantaged account will work, such as another IRA, a 401(k), or a 403(b) account.

From there, you'll be able to invest your retirement savings in gold and silver coins and bars. If you're currently only invested in the stock market, this is a healthy way to diversify your portfolio.

Did you know the average retirement savings is $172,000? Sounds like a lot, right? But the average person needs 70% of their annual pre-retirement income during retirement. Which means most people don't have nearly enough. Want to see if your retirement savings are on track? Read more about the average retirement savings and check the savings benchmarks for your age.

How much do you have saved for retirement?

Funding a precious metals IRA requires that the gold and silver match certain requirements, such as purity, set by government regulators.

Goldco makes it easy to ensure you're only purchasing IRA-approved gold and silver. They sell to their customers directly. In fact, unlike some other gold and silver IRA providers, Goldco requires its members to purchase directly from them.

So if you already have another precious metals IRA, you won't be able to transfer it to fund your Goldco account. Some potential customers may find this a dealbreaker.

If you are interested in diversifying your portfolio, they also offer investment in other precious metals like platinum and palladium.[1] Goldco's experts specialize in helping you choose the right mix of precious metals to meet your investment goals.

Wanting to invest in palladium or platinum? Both Patriot Gold Group and Noble Gold offer similar precious metals IRAs. They also sell palladium and platinum. Check out the in-depth reviews on each for more.

The precious metals IRAs from Goldco also have a fairly steep minimum investment of $25,000. This is in line with some of its competitors.

Still, suppose you can meet the minimum requirements and are interested in a fairly hands-off retirement investing account for gold and silver. In that case, a Gold or Silver IRA from Goldco may be worth your consideration.

Since precious metals sales are made through their team, and they have a strong reputation for customer service, you can be fairly certain that opening an account with Goldco will be a smooth experience.

Buy Precious Metals Directly

Want to just buy gold, but not an IRA? You can still purchase gold and silver directly from Goldco without opening an IRA.

Goldco offers a decent range of gold and silver coins and bars.

Their offerings include:

  • Gold American Eagles
  • Silver American Eagles
  • Gold American Eagle Proofs
  • Silver American Eagle Proofs
  • Silver American Bald Eagles
  • Silver Australian Spotted Eagle Rays
  • Silver Australian Striped Marlins
  • Gold Australian Striped Marlins
  • Gold bars
  • Silver bars and more

Which precious metal are you likely to buy?

Buyback Program

Are you worried about selling your gold when you want to cash out? Goldco offers a buyback program so you can take your distributions when it's time. You won't have to find a dealer to sell your gold.

As with any IRA, you can take distributions without penalty at the age of 59 and a 1/2.[2]

Precious Metals Storage

Due to government regulations, you cannot personally store gold and silver held in a precious metals IRA.[3] But Goldco offers a number of storage options.

Options include:

Fees to Look Out for

Goldco doesn't have fees published on their website. But we spoke to a rep to get the details. Here are some fees you can expect:

  • $80 one-time setup fee
  • $200 annual storage, maintenance, and insurance fee

For those purchasing gold or silver outside of an IRA account, the minimum purchase is $25,000.

Their flat-rate setup and annual fees are on par with other gold IRA companies.

Goldco vs Competitors?

Next, let's look at how Goldco compares to other popular gold and silver IRA providers.

Goldco vs Augusta Precious Metals

Goldco and Augusta Precious Metals offer many of the same services. They're both providers of gold and silver IRAs. In many ways, the two are equally good options. However, they do differ in a few regards.

Augusta Precious Metals has a $50,000 initial minimum investment,[4] making it more difficult to get started than Goldco's $25,000 minimum.

But Augusta is more transparent about fees and pricing, whereas Goldco requires you to talk to one of their representatives to find out what you'll be paying.

One reason you might want to choose Goldco over Augusta Precious Metals is their inclusion of platinum and palladium as investment options.

Goldco vs Patriot Gold Group

Patriot Gold Group is another precious metals IRA provider which, like Goldco, also offers platinum and palladium in addition to gold and silver for their IRAs.

They also have a minimum investment of $25,000. Like Goldco, you'll need to talk to a representative to get a clear answer about pricing.

If you have $100,000 invested, you qualify for Patriot's No Fee for Life IRA. That can help you save a lot on fees over the course of the account.

Patriot Gold Group is also well-regarded in terms of customer service.

Bottom Line

Goldco is a legit, reputable provider of gold and silver IRAs known for excellent customer service. With Goldco, you'll find comparable service to many of its popular competitors.

However, it does have a relatively high minimum deposit and less-than-transparent pricing.

If $25,000 is too high of a minimum investment, consider another provider such as Noble Gold.

References

  1. ^ Goldco. FAQs: What type of metals can I keep in my Precious Metals IRA?, Retrieved 7/24/2022
  2. ^ Internal Revenue Service. IRA FAQs - Distributions (Withdrawals), Retrieved 7/24/2022
  3. ^ U.S. Code. 26 USC 408(m)(3)(B) and (n): Individual retirement accounts, Retrieved 7/23/2022
  4. ^ Augusta Precious Metals. Are there minimum and maximum orders?, Retrieved 7/24/2022
Goldco

Free Gold IRA Kit

  • Up to $10,000 in free silver for eligible customers
  • Highest buyback price, guaranteed
  • Endorsed by Sean Hannity and Chuck Norris
Augusta Precious Metals

Gold IRA Retirement Diversification

  • Free 1-on-1 web conference designed by an on-staff, Harvard-trained economist
  • Lifetime support even after your purchase
  • Endorsed by Joe Montana, Hall of Fame Quarterback
Regal Assets

Free Investors Kit

  • Precious metals and cryptos investing
  • Buyback any business day and get cash in 24 hours
  • Pre-designed investment packages for protection and wealth-building
  • No setup fees
Ally Invest Coupon Codes

Get Up to $3,000

Expires in 3 days

The minimum qualifying deposit to receive a cash bonus is $10,000. Accounts will be reviewed 60 days after account opening to determine the total qualifying deposit. Corresponding cash bonus will be credited to the account within 10 business days. Once the bonus is credited to the account, the bonus and qualifying deposit (minus any trading losses) is not available for withdrawal for 300 days. If the qualifying deposit is withdrawn, the bonus may be revoked.

Deposit or TransferCash Bonus
$10,000 - $24,999$100
$25,000 - $99,999$250
$100,000 - $249,999$300
$250,000 - $499,999$600
$500,000 - $999,999$1,200
$1,000,000 - $1,999,999$2,000
$2,000,000+$3,000

Jeremy Harshman is a creative assistant at CreditDonkey, a personal finance comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

Read Next:

Best Gold IRA Companies

Best Gold IRA Companies

Best Places to Buy Gold Coins

Buy Gold Coins

Patriot Gold Group Review

Patriot Gold Group Review

Noble Gold Review

Noble Gold Review

Augusta Precious Metals Review

Augusta Precious Metals Review

Best Places to Sell Jewelry

Places to Sell Jewelry

Compare:

How much do you have saved for retirement?
10% Less than $25,000
11% $25,000 - $100,000
12% $100,000 - $250,000
19% $250,000 - $500,000
49% Over $500,000
Source: CreditDonkey poll of 1,956 respondents. Totals may not add to 100% due to rounding.
Which precious metal are you likely to buy?
62% Gold
24% Silver
5% Platinum
5% Copper
5% Other
Source: CreditDonkey. Totals may not add to 100% due to rounding.
Leave a comment about Goldco Precious Metals Review?



American Hartford Gold Review

American Hartford Gold Review

American Hartford Gold is one of the top precious metals IRA providers. But how high are the fees? Are they right for you? Read on to learn more.

About CreditDonkey
CreditDonkey is a personal finance comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
(888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
© 2022 CreditDonkey Inc. All Rights Reserved.