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GoldCo Precious Metals – reviews & Complaints

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Investing in precious metals has become increasingly popular with retirement savers looking to diversify their retirement portfolios.

Precious metal IRAs are a special type of self-directed IRA (Individual Retirement Accounts) that allows investors to include eligible gold, silver, platinum, and palladium in their retirement portfolios.

Most retirement savers prefer to work with GoldCo because of the company’s outstanding reputation.

Goldco receives mostly positive customer reviews with excellent ratings in the industry.

This review article will detail everything you need to know about GoldCo, how it stands out from competitors, and whether it is the best company for precious metal IRAs.

GoldCo – All You Need to Know About IRA Company

What Is GoldCo

GoldCo was founded in 2006 as GoldCo Direct because they focused primarily on direct cash purchases of precious metals.

Based out of Woodland Hills, California, GoldCo quickly established itself as the leading precious metals dealer regionally and across the US.

However, with time, GoldCo founder, Trevor Gerszt, identified an increasing demand for a reputable precious metals IRA provider and worked towards meeting said demand.

In the process, GoldCo Direct changed its name to GoldCo Precious Metals to represent the broader range of services it would offer.

GoldCo Precious Metals quickly established a gold and silver IRA line by setting up an in-house IRA department dedicated to helping Americans safeguard their future in silver and gold retirement plans.

The company worked to ensure that its services were always in line with the strictest IRS requirements.

GoldCo was committed to developing a comprehensive consumer-education platform accessible by anyone through their official website.

This gave their customers more confidence when investing in precious metals IRAs.

In 2017, GoldCo brokered an exclusive partnership with former Congressman and presidential candidate Ron Paul.

This one-of-a-kind partnership was designed to carry on GoldCo’s mission to educate investors on the advantages of supplementing their IRAs and 401(k) accounts with gold.

In 2021, GoldCo partnered up with legendary American martial artist and actor Chuck Norris to further support the company’s mission to educate investors.

In conjunction with GoldCo experts, Chuck Norris released a special report that would be resourceful for any investor looking for safe havens to protect their hard-earned wealth amid the rising national debt, inflation, political unpredictability, and the unprecedented economic impact of COVID-19.

GoldCo’s customer-education focus contributed in part to the company’s tremendous growth and national recognition.

Today, GoldCo boasts exceptional accolades and excellent customer reviews posted on top consumer advocacy websites.

The vast majority of Goldco reviews rave about the company’s excellent customer-focused service with a high level of professionalism from the GoldCo representatives.

Beyond that, the company strikes a proper balance between service-oriented and customer-focused operations.

These attributes are demonstrated through GoldCo’s dedicated departments and streamlined gold-silver IRA processes, commitment to customer education, and personalized customer support.

Services and Products

As a full-service precious metals company, GoldCo offers a variety of investment options in silver and gold products and services.

The core services they offer include:

  • GoldCo Gold IRA
  • GoldCo Silver IRA
  • GoldCo Gold-Silver Non-IRA Sales

GoldCo lists a whole range of silver and gold bullion coins and bars to meet the demands for precious metals investing in the categories mentioned above.

A GoldCo Gold account executive is always available to help investors choose the best product and services for their portfolios and future goals.

1) Precious Metals IRA Services

With nearly 80% of their transactions in precious metal retirement plans, GoldCo gold IRA and silver IRA services can be said to be the company’s core business.

As a full-service precious metals IRA brokerage firm, GoldCo has helped thousands of American investors protect their retirement portfolios and safeguard their future.

GoldCo offers an easy way to set up a self-directed IRA holding silver and gold.

Similar to other precious metal IRAs, GoldCo precious metals IRA functions as either traditional or Roth IRAs.

While traditional and Roth IRAs are both tax-advantaged opportunities, their tax treatment is done differently.

The company representatives guide new clients through their retirement investment options as well as offer assistance in choosing the right blend of bullion coins and bars.

GoldCo partners up with several other companies in the niche to ensure that the gold IRA process is streamlined and straightforward.

This means that GoldCo customers will enjoy an array of specialized services depending on their needs.

To complement/supplement the GoldCo precious metals IRA service, the company offers the following additional services.

  • Custodial Solutions (via trusted partners)
  • Storage Solutions (via trusted partners)
  • 401(k) Rollovers
  • Traditional and Roth IRA Planning
  • SEP-IRA Planning
  • Simple IRA Planning
  • Cryptocurrency IRA (via subsidiary company)
  • Dedicated Buy-back Program

Goldco has an in-house IRA department staffed by precious metals experts to facilitate the services mentioned above.

Because the majority of GoldCo’s customers already operate existing IRA plans, the company dedicates a whole team of experts specialized in gold IRA rollovers.

The department’s streamlined rollover process and Roth conversion make it relatively easy to transfer any existing retirement account such as a 401(k) into a Goldco account.

Other retirement accounts that are eligible for Goldco’s IRA rollover program include:

  • Roth IRA
  • 403(b) Plans
  • Roth 401(k) and 457(b) Plans
  • SIMPLE and SEP IRAs
  • Pensions
  • TSP (Thrift Savings Plan)

While GoldCo rollover IRA experts will handle most of the legwork, it can be pretty time-consuming. Clients’ complete cooperation is required.

The good thing is that GoldCo precious metal IRA consultants are friendly and always available to answer any question the investor might wish to ask.

2) Precious Metal Sales

GoldCo allows investors to own physical gold and silver in this service category without necessarily being part of a precious metals IRA.

The company makes it extremely easy for investors looking to purchase precious metals outside of a retirement plan.

With this service, investors take physical possession of their metals and arrange for private storage.

Most investors collect commemorative and collectible coins.

Holding these types of coins in a gold IRA is prohibited by the IRS, partly because they are either graded or do not meet the mandated fineness standards.

That is not to say that IRA-eligible silver and gold bullions cannot be part of an investor’s private collection.

However, in such a case, the investor does not enjoy the tax advantages of holding the metals in an IRA account.

GoldCo Catalog

While the catalog on GoldCo’s website lists several precious metals options for IRA savers and non-IRA collectors.

As GoldCo sells collectibles and commemorative coins, retirement investors have to take note of which god or silver coins they include in their gold or silver IRA accounts.

The IRS is very strict about this. It is probably the reason why Goldco assigns knowledgeable and experienced precious metals experts to assist in choosing only IRS-approved bullions and bars.

All IRA-eligible precious metals presented to GoldCo IRA customers meet the IRS minimum fineness requirements outlined below:

  • Gold coins and bars: minimum 99.5% pure
  • Silver coins and bars: minimum 99.9% pure
  • American Gold Eagle coins: minimum 91.67 % pure

For the purposes of this GoldCo review article, we will list only the popular IRA-approved gold and silver coins and bars.

1) Gold

  • American Bald Eagle
  • American Buffalo
  • American Eagle
  • American Eagle (Proof)
  • Australian Saltwater Crocodile
  • Canadian Maple Leaf
  • Gold Canadian Eagle
  • Lucky Dragon
  • Royal Mint Gold Lunar Series coins
  • Gold bars

2) Silver

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

Custodial Solutions

GoldCo does not provide custodial services for precious metals IRAs.

For custodial services, GoldCo maintains a strong working relationship with a number of reputable IRA custodians specialized in managing retirement accounts holding physical precious metals.

Goldco partners up with Equity Trust Company through Equity Institutional to manage customers’ IRA accounts.

You don’t have to set up your account with GoldCo’s recommended IRA custodians, but there are advantages of work with the company’s preferred custodian service partners.

The good thing is that GoldCo experts operate with the highest level of work ethic and professionalism, able to help interested customers set up their metals with any custodial service provider.

Depository Solutions

Again, GoldCo does not offer storage services for the physical metals they acquire on the investors’ behalf. Instead, the company will recommend a secure IRS-approved precious metals IRA depository.

We found that GoldCo works with A-plus rated and nationally trusted Delaware Depository Service.

Account Pricing Information

GoldCo does not make account fees and other pricing information available on its website.

We were directed to schedule a call with a sales representative for more information on GoldCo’s fees and charges.

Clients report that the sales rep they spoke with explained that the company doesn’t list its charges because there are a lot of variables to be considered.

This feels like a perfectly reasonable explanation.

Notwithstanding, we always advocate for complete transparency, especially from an industry leader such as GoldCo.

We were impressed to learn that the GoldCo team was forthcoming with pricing information when contacted.

They have been reported to be quite informative, attentive, and polite, which can be deeply refreshing for anyone who has had any experience with the industry’s pushy sales reps.

We managed to find out the IRA fee categories clients can expect to pay in when setting up an account with GoldCo.

Below are the investment minimums, fees, and related charges GoldCo customers can expect.

Minimum Investments

  • $25,000
  • $50,000 (5% bonus)
  • $100,000 (10% bonus)

One-time Fees

  • $50 (IRA account setup)
  • $30 (Wire transfer)

Annual Fees

  • $80 (Administrative)
  • $160 (Segregated storage)
  • $100 (Non-segregated storage)

Some of the prices listed above may differ depending on the Gold IRA custodian and depository company a client will choose.

We recommend starting a GoldCo IRA with a little over $100,000 due to the incredible bonuses that come with it.

As for the choice of storage option, we advise going for segregated storage in spite of it being a little more expensive than non-segregated storage.

With segregated storage, each client gets exactly the exact same bullion metals they put into storage.

How GoldCo Stands Out 

1) Top-tier Gold/Silver Provider

GoldCo is a full-service precious metals firm specializing only in silver and gold products.

They offer a wide selection of silver and gold products for both retirement investors and precious metals collectors.

Specializing in silver and gold made Goldco the go-to precious metals company for those particular metals.

They offer Crypto-assets for retirement saving, but only through their sister brand called Coin IRA.

GoldCo IRA customers enjoy incredible savings gained from the company’s direct link with silver and gold suppliers.

The company further specializes by employing top-level experts experienced in precious metals IRAs.

Goldco only partners with the best precious metals custodians and depository facilities to ensure that their customers get quality services from start to finish.

2) Education-focused Approach

Goldco maintains a laser-beam focus on customer education.

Their official website is chock full of resourceful tools and very informative educational material.

An Educational Resources section provides free guides, articles, eBooks, videos, FAQs, and price charts.

A section is also dedicated to Gold IRAs and Silver IRAs, including a detailed outline of all IRA eligible silver and gold bullion coins and bars.

Specific information on the different types of tax-advantaged retirement investments can be found in the Retirement Planning section.

It includes information on rolling over traditional IRAs and 401(k) plans to gold or silver-backed self-directed IRAs.

These are all excellent learning resources for first-time customers interested in learning about silver and gold and self-directed IRAs before purchasing precious metals in an IRA.

3) Solid Reputation

Only a few gold IRA companies maintain a reputation that compares to Goldco’s rating online.

Unrivaled customer service, streamlined IRA investment processes, competitive prices across an extensive range of products, and an unparalleled focus on customer education have all contributed to Goldco’s high rating with reputable third-party review platforms.

Goldco’s exceptional ratings with both its client base and independent review organizations fast-tracked its growth and development.

The Los Angeles Business Journal ranked it as the fastest-growing company in its region.

It was also featured in the California Business Journal and Inc. Magazine.

Featuring in the Inc. 5000 list consecutively from 2015 to 2018 gives Goldco some much deserved national recognition.

4) Dedicated Buyback Program

Goldco will buy back your precious metals when you want to liquidate.

The firm has a dedicated buyback program and department that will make precious metals liquidation easy.

This is an advantage to retirement savers who wish to sell their precious metals once the Goldco retirement account matures at 59.5 years.

Most customers report that Goldco offers reasonably fair for metals they have sold.

In fact, the company asks customers to give them first refusal when it’s time to sell.

5) Special Promotions

Goldco offers various promotions to new customers.

First-year fees are waived for investments over $50,000.

The company also gives new customers a minimum of $2500 in free silver.

IRAs above $50,000 are rewarded with 5% in free silver for investments up to $100,000.

For investments above $100,000, Goldco rewards 10% back in free silver.

For cash sales, GoldCo provides secure and insured shipping of precious metals to the buyer’s choice of vault facility or their home, free of charge.

You can request a FREE Gold IRA Kit, which comes with several incentives, including a physical Gold IRA guide, a video guide, an audiobook, and a free silver coin.

6) Crypto IRA Available

GoldCo offers greater retirement savings diversification with Silver and Gold self-directed IRAs through their precious metals business, and cryptocurrency IRAs through their subsidiary, Coin IRA.

With Coin IRA, precious metals investors working with Goldco don’t have to go out searching for a reputable cryptocurrency provider.

Like its parent company, Coin IRA specializes in its niche space.

As a full-service Bitcoin IRA company, Coin IRA has helped crypto-savvy Americans to diversify their retirement portfolios in digital currencies.

Unfortunately, Goldco and Coin IRA do not allow investors to hold precious metals and crypto assets within a single retirement account.

Gold/Crypto combined IRA is an option available with Regals Assets and Bitcoin IRA.

The Cons

1) Fees Not Disclosed

There isn’t any information on service charges and fees posted on Goldco’s official website.

Clients have to contact the company’s representatives to learn about the fees charged.

While the representatives are forthcoming with pricing information and other related inquiries, we expect to see a decent level of transparency from a reputable company like GoldCo.

The best gold IRA companies boast complete transparency from the get-go.

That means complete disclosure of account fees and service charges posted on the company’s official website.

While such information is not available with Goldco, customers can expect to pay a one-time setup fee with a Gold IRA custodian, annual maintenance fees, and annual storage fees.

2) Limited Products

While GoldCo claims to be a leading precious metals company for investors considering purchasing IRS-approved coins and bars, the company only lists information on silver and gold but doesn’t mention platinum and palladium.

We could not find any options for platinum and palladium investing with Goldco, which could be an important issue for investors looking to diversify in these metals to consider.

It may be worth noting that GoldCo offers further diversification in cryptocurrency IRAs their sister company, Coin IRA, which is kind of counterintuitive that it doesn’t offer platinum and palladium instead.

Many full-service precious metal IRA companies feature all gold, silver, platinum, and palladium metals approved for precious metals IRAs.

If GoldCo IRAs don’t answer the purpose, then these alternatives would be best considered.

Reviews, Ratings, & Customer Complaints

The majority of GoldCo reviews were positive, with excellent ratings from top consumer watchdog organizations online and only a few complaints from investors.

Negative reviews were few and far between, with most dissatisfied customers citing a pricing and advertisement issue.

Quite a number of negative reviews were either retracted or edited to reflect a change of opinion following a misunderstanding that the company resolved.

We found a few customer reviews revised following the company’s response to a misunderstanding about collectible coin value and melt value.

Below is a look at how GoldCo faired across the top third-party websites for consumer reviews.

Ratings

  • Better Business Bureau: A+
  • Business Consumer Alliance: AAA
  • TrustLink: 4.8/5 (253 reviews)
  • Trustpilot, Inc.: 4.9/5 (610 reviews)
  • Consumer Affairs: 4.8/5 (485 reviews)
  • Google: 4.8 (384 reviews)

Customer Complaints

We found a total of 8 (eight) customer complaints on the Better Business Bureau (BBB) website, of which 5 (five) issues were resolved in the last 12 months from the time of writing this GoldCo review article.

In the customer complaints section, Gold Co fell short in the four categories as summarized below:

  • Advertising and sales: 12.5% of the complaints
  • Billing and collections: 25% of the complaints
  • Delivery issues: 12.5% of the complaints
  • Problem with a product or service: 50% of the complaints

Overall, we were impressed with GoldCo’s timely response to more than half of the complaints filed on BBB, and we’re pleased to learn that they were working to resolve the remainder of the pending issues.

Customer Reviews

This is the first time I’ve bought metals and everyone was very patient with me. It took a while to make up my mind but Marty just kept calling once in a while, no pressure. I’m excited for my delivery to come. Thanks, everyone.

Janet of Brunswick, OH – on Consumer Affairs

GoldCo is a company to be emulated. They are welcoming and respectful with dedicated attention to your needs and intentions. Their expert knowledge educates and they operate in total integrity. I am safe and protected now and into the future. Walter Dombrowski is the Best! I am grateful!

Constance of Albuquerque – on Consumer Affairs

Goldco was a pleasure to work with setting up my account. Looking forward to the benefit of precious metals. Thanks again

Bryce S. – on TrustLink

Goldco has provided superior service! Because of my very good experience converting a 401(k) account to a precious metals IRA, I decided to convert a second retirement account as well.

Yvonne P. – on TrustLink

Final Thoughts

GoldCo has been consistently ranked America’s top precious metals IRA firm.

Its commitment to educating American investors on the importance of protecting their hard-earned wealth is unmatched.

Beyond customer education, GoldCo commits to making it easy and affordable for investors to diversify their investment portfolios.

Diversification in GoldCo gold IRAs and Silver IRAs helps protect 401(k) accounts against the devastating impact of the economic downturn.

While just about any precious metals brokerage firm can help with this, only the best gold IRA company will guarantee seamless processes, excellent customer service, and, most of all, the highest degree of transparency and work ethic standards.

GoldCo has demonstrated its earnest commitment to its clients’ best interests.

Anyone thinking of including precious metals in their retirement portfolios would do well to consider GoldCo Investing.

Frequently Asked Questions (FAQs)

1) Which is the better investment between gold or silver?

Physical precious metals are sound investments, especially in periods of economic uncertainties and high volatilities in the traditional assets market. While all precious metals are great investment options for portfolio diversification, gold and silver are particularly attractive options due to their stable growth in their market.

Of the two, gold may be considered the better option for the average precious metals investor because its price is less volatile than the price of silver.

Silver experiences notorious volatility compared to gold because of the influence of small markets on its price.

Still, and despite its speculative nature, silver remains a safe instrument to invest in during times of poor stock market conditions.

2) How do precious metals IRAs compare to cryptocurrency IRAs?

Investors turning to self-directed IRA accounts have the flexibility to diversify their retirement portfolios in a wide range of alternative assets not allowed in traditional IRAs. Precious metals IRAs and cryptocurrency IRAs are both excellent investment vehicles for a well-diversified retirement portfolio.

Retirement portfolios blending both cryptocurrencies and precious metals must do so conservatively.

  • Gold and silver: (less than) <20%
  • Bitcoin and other Cryptos: (less than) <5%
  • Experts advise such conservativeness because while cryptocurrency IRAs and precious metals IRAs are good hedges against inflation, they protect retirement portfolios differently.

    Precious metals are comparatively less volatile and may hold their value longer against depreciating standard currencies.
    On the other hand, cryptocurrencies are highly volatile and have greater potential to appreciate in value as their use becomes more mainstream than ever.

    As such, cryptocurrencies increase the risk profile of a retirement portfolio but present an opportunity for substantially higher returns.

3) Does gold lose its value after you buy it?

Gold and other precious metals are investment assets, and their value is subject to market forces, same with other investment assets. Still, while the price of gold will rise and fall, it doesn’t experience significant fluctuations like leveraged ETFs, options, and penny stocks.

Gold tends to retain its value making its price relatively stable over the long term and experiencing only minor fluctuations at a time.

It should mean that while the value of your gold cannot be guaranteed, there might be little to worry about after you’ve bought it.

Note that, many factors influence the performance of the precious metals market, and past performance does not guarantee future performance results.

4) Who holds the gold in a gold IRA?

The IRS is very strict about how the gold in a gold IRA is handled. This is because the physical bullion coins and bars purchased in an IRA are given special tax advantages. As such, the IRS needs to be sure that the exact same metals purchased within the IRA are the only ones that will benefit from the defined tax benefits.

In this case, gold IRA bullion coins and bars are required to be held with a trustee. Typically, this is a non-bank depository or a bank that operates within IRS guidelines.

Investors who take possession of their gold IRA metals before first attaining the age of 59.5 years violate IRS rules, and the consequences can be severe.

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David is a professional gold investor and trader, cryptocurrency analyst, and blockchain vehement. He has written articles, technical analysis, market analysis, books, broker reviews, etc. in the gold and cryptocurrency and market. He also has an online mentoring platform and portfolio management services.

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