Disclosure: “The owners of this website may be paid to recommend Goldco. The content on this website, including any positive reviews of Goldco and other reviews, may not be neutral or independent.”
Why, you ask? Well, without further ado, let's jump into the review!
Goldco Review Quick Summary
Website: >> goldco.com (10% back in Free Silver)
Founder and CEO: Trevor Gerszt
Cash minimum: $10,000
IRA minimum: $25,000
What is Goldco?
Goldco, previously known as Goldco Precious Metals, is a trusted and experienced full-service precious metals firm. They specialize in taking care of gold and silver IRA rollovers. They offer precious metals to be sold directly to their customers as well.
Founded by Trevor Gerszt in 2006, Goldco's headquarters is located in Woodland Hills, California.
Since their founding, Goldco has been offering precious metals services to their customers, helping them secure, protect, and diversify their investments and wealth.
The firm has received recognition from different publications. In 2015, it was named by Inc. Magazine as the 3rd fastest-growing financial services company in the U.S.
Furthermore, it was also named by the Los Angeles Business Journal as the 17th fastest-growing company in the greater L.A. area.
Goldco Management Team
Goldco's founder, Trevor Gerszt, has a very inspiring story. His family came into the United States when he was still 6 years old. He is a self-made man who worked hard to get to where he is right now.
He finished school with a real estate license and lived in San Fernando Valley region of Los Angeles, where he got exposed to areas with rich real estate opportunities.
However, in 2008, where the economy struggled, he recognized the importance of precious metals in people's investments and how they can literally provide protection.
Moreover, because of the unethical practices that he noticed in the industry, he was inspired to create his own gold company, which is named Goldco. Since then, the company has been serving thousands of clients, both beginners and professionals, with quality services and products in the form of precious metals.
Being Endorsed By Sean Hannity
It is quite rare for precious metals company by notable people. However, lately, Goldco has been endorsed by Sean Hannity.
Who is he? Sean is an American talk show host, conservative political commentator, and renowned author. He even has his own show, the Sean Hannity Show.
Sean emphasized that Goldco is the ONLY company that he has endorsed to everyone, including his family and friends. Moreover, he stated that it is because of his research in which he learned that Goldco ranks as the best at their specialization.
This is a gamebreaking situation because a man like Sean, actually endorsed Goldco to everyone, knowing the company's potential and legitness. He really believes that Goldco is more than capable of helping people with their investments, especially today with the economic crisis that is happening lately.
Goldco has an extensive precious metals catalog that it offers to its clients. Although it does not offer any platinum and palladium products, Goldco has a wide range of gold and silver precious metals, which are also IRA-eligible!
Below are the list of the gold and silver products that you can purchase from Goldco!
- Silver American Eagle
- Gold American Eagle
- Gold American Eagle Proof
- Silver American Eagle Proof
- Silver American Bald Eagle
- Silver Australian Spotted Eagle Ray
- Silver Australian Striped Marlin
- Gold Australian Striped Marlin
- Silver Australian Sea Turtle
- Silver Great Barrier Reef
- Silver First Moon Landing
- Silver Washington Monument
- Silver Lincoln Memorial
- Silver Lone Cypress
- Silver Survivor Tree Coin
- Silver Liberty
- Silver USS Texas
- Gold Liberty
- Silver Phoenix
- Gold Phoenix
- Gold Washington Monument
- Gold Independence Hall
- Gold Australian Sea Turtle
- Silver We The People
- Silver Mighty Mo
- Silver Mayflower
- Silver Valor
- Gold Valor
- Silver Military Guinea
- Silver Freedom & Hope
- Silver Maple Leaf
- Gold Maple Leaf
- American Gold Buffalo
- Gold Freedom
- Silver Freedom
- Silver Land of the Free - Bald Eagle
- Gold Freedom and Hope
- Gold American Bald Eagle
- Gold Lucky Dragon
- Silver Dragon
- Silver Lucky Dragon
- Gold Australian Saltwater Crocodile
- Silver Australian Saltwater Crocodile
- Silver World War I
- Silver World War II Victory
- Gold Military Guinea
- Silver 20th Anniversary Britannia
- Silver Britannia Lunar Series
- Gold British Lunar Series
- Gold Bars
- Silver Bars
Now, that was a lot, wasn't it? Due to Goldco's partnership with various mints such as Perth Mint, Royal Mint, U.S. Mint and many more, the company has a lot in store for its clients.
How to purchase gold and silver from Goldco?
Goldco's precious metal purchase process is designed to be quick and easy for its clients. Here are the steps you need to do.
1. Create an account and sign the agreement.
Create an account in its website and then sign the customer agreement.
2. Fund your account.
After your account is created, you can start funding it for your precious metal purchases. Goldco has a few options that you can choose from. You can send them funds through bank wire or mail them a check to their office in Los Angeles.
Moreover, if you choose check, they can send you a FedEx shipping label so that you will not pay for shipping fees when you expedite your purchases.
3. Choose your precious metals.
Once your account is funded, you can start choosing which precious metals you want for your account. After that, you can either opt to have Goldco ship your metals to an independent insured depository, directly to you or your account may qualify for free storage.
Goldco offers a wide range of services including the following:
- Self storage IRAs
- 401(k) Rollover professional assistance
- Gold and Silver IRAs
- Selling non-IRA precious metals (gold and silver) both in bullion and coins
- Buyback programs for the products purchased from them.
Furthermore, it is important to note that Goldco offers fair prices for its buyback program. And of course, transparency and honesty serve as the foundation of the services and rates.
Goldco specializes in both gold and silver IRAs. Moreover, these are the 2 major services that it can offer to its customers.
Precious Metals IRA
To be eligible for Goldco's Precious Metals IRA, you must have earned an income and must be under age 70 and half. Goldco both offers gold and silver IRAs. Usually, IRAs can store gold, silver or both.
Goldco has more than capable professionals who can help clients pick the best options for their investment profiles.
Furthermore, following the IRS regulations, Goldco stores its IRA precious metals through a third party, state-of-the-art vault, with locations all over the country. It is partnered up with Equity Trust Company. But there are also other partner custodians that you can choose from.
Non-IRA Precious Metals
Unlike the IRA Precious Metals option, anyone can buy any non-IRA Precious Metals without meeting any required age or income.
Once you have purchased precious metals, you have the option to have them stored in a secure vault, or delivered directly to your house.
How to start an IRA with Goldco?
Here are the steps that you will undergo once you decide to get started with Goldco.
This process is a summary that starts from the contact phase to the IRA rollover finalization.
The first step is to contact a precious metals specialist by filling out this form.
Once you want to move forward into the process, the precious metals specialist will transfer you to a Goldco IRA specialist to take care of you. If not, you can also opt to set an appointment based on your preferences.
During your call with the precious metals specialist, he/she will collect all the necessary information from you that is needed to create your account, transfer your funds and to complete the application.
When you have successfully applied, you can start funding it. When you do, an Account Executive will help you purchase the precious metals you have chosen for your IRA account.
That's pretty much the process that you will have to go through. If ever Goldco has your preferred metals in stock, they can transfer them to your depository within a few business days.
However, if not, they will show up within 3 to 4 weeks.
Goldco uses a model that is designed to make its investors save money as much as possible.
First things first, Goldco has a minimum purchase of $25,000 to open up an IRA account.
One thing to take note with gold storage and custodianship fees, they all depend on which custodian company you choose. This is required by the IRS since it is a must that IRA assets be handled by custodians.
With that, depending on the custodian company, storage fees can range from $10 to $60 per month, or as a percentage of assets, from 0.35% to 1% annually.
For cash purchases over $25,000, Goldco DOES NOT CHARGE ANY FEES!
With its IRA services, Goldco has its preferred custodian. This custodian charges a flat annual service fee, which also includes a ONE-TIME set-up fee for $50 and a wire fee for $30.
Other than those, an annual maintenance fee for $100 will be charged. Lastly, for the storage services, clients have two options: segregated storage for $100 and non-segregated storage for $150.
Goldco IRA Fees Summary
ONE-TIME set-up fee
annual maintenance fee
annual maintenance fee
annual maintenance fee
As you can see above, it is not costly to set up an IRA account with Goldco. The prices are very competitive, as well as the fees.
So if you want to start with it, you can click the orange button below!
To really dive in to this Goldco Review, we will discuss the features that highlight Goldco and make them unique. Here are 7 of them.
The first thing is the low fees. They use a model that really makes sure that investors save money.
Moreover, you don't have to pay for any fees for your non-IRA transactions!
Do you want to sell the precious metals you bought from Goldco? No problem because Goldco has a great buyback program.
They are very much willing to buy back the metals that you've purchased. This is very beneficial, as it can give you a higher price compared to selling to random coin dealers who might lowball you.
Excellent customer service
Another thing that really makes Goldco so nice is how they prioritize their customer support.
Whether you are looking to buy precious metals or want to open an IRA account, they have you well-taken care of. They are available by phone and email. Goldco really assures that you are completely satisfied.
Special offers for new customers
Goldco really treats its customers well, especially the new ones. It has two special offers which are:
- If you open an account with at least $50,000, all of your fees for the first year are waived!
- By placing a qualified order of over $50,000, you can earn 5% back in free metals!
With all of these, if you are a new investor who opens an account with exactly $50,000, you can save up to $320 in fees.
Moreover, you can receive $2,500 worth of free precious metals. Not a bad deal, right?
IRA and 401(k) Rollovers
Another service that Goldco offers is its rollovers of current IRA accounts. What is it? In simple terms, it is the act of converting intangible assets into tangible assets.
Without the help of professionals, the process can take a long time since it can be complicated and tedious, especially for the beginners.
Goldco makes sure that the rollover process (if you have an existing retirement plan) is quick and easy. Here are the steps:
1. Open a Goldco Precious Metals IRA
2. Your very own Goldco precious metals specialist will assist you in funding your account with your old IRA.
3. After the money transfers, the specialist will present you with various gold and silver bullion options and help you choose the ones that really suit your goals and plans.
You don't have anything to worry about because your Goldco precious metals specialist will always be there for you to help you out. Usually, this process takes 10 business days from start to finish.
When it comes to investments, knowledge is very important. With that, Goldco makes sure that its investors are knowledgeable about the industry.
In its website, there is an extensive educational resources for its customers. Here are some of them.
- Downloadable eBooks that include, 10 Reasons Why The Dollar Will Crash, The American IRA and 401(k) Crisis, and a 12-page Gold IRA Investment guide.
- In-depth blog about recessions, trade wars and other topics.
- Educational videos regarding stock market crashes, dollar fluctuation and many more
- Live price trackers for different precious metals
Great and State-of-the-art Storage Options
Like I said above, Goldco follows the IRS Regulations, which means that you must store your IRA precious metals via a third-party depository.
With that, Goldco makes sure that you and your investments are well-protected. It uses state-of-the-art storage options. Here are they.
Annual Storage Cost
Brinks Salt Lake City
Delaware Depository (preferred)
The Delaware Depository is preferred since Goldco uses it by default. It is a renowned depository with over 200 years of experience in the precious metals industry, 3-Class vaults and of course, state-of-the-art security and storage systems.
You can of course, still choose another storage or depository providers that you prefer.
Precious Metals Specialists Are Always Ready
For the beginners out there, also for the more experienced ones, who will have a challenging time with their precious metals and IRAs, worry not. Goldco's professionals and experts will always assure that you are in good hands.
Moreover, thanks to them, all processes will be made easier and more efficient. They are equipped with the knowledge and experience to help you choose the best decisions for your investment.
Of course, their assistance will also be paired up with honesty and transparency, which is very important in this industry. There are several companies in which employees practice unethical practices wherein they convince clients to blindly decide and purchase products.
Goldco does not just guide the clients throughout various processes, but will also explain everything to them so that they will be knowledgeable about their investments and the industry.
It is very good that Goldco acknowledges the importance of education about this industry.
Are there any cryptocurrency IRAs?
Unfortunately, Goldco does not offer any cryptocurrency IRAs as of the moment. The company only deals with gold and silver IRAs.
Can I store my precious metals at home?
Unfortunately, no. The Internal Revenue Service or the IRS, has rules that forbid people to keep their precious metals IRA in their houses or in a safety deposit box.
Storage facilities must restrict the access and must store their clients' precious metals separately. This is to make sure that your metals are safe, returned to you, cashed in, and meet legal distribution requirements.
How long does a rollover take?
Rolling over traditional IRA to gold IRA usually takes two weeks to be completed. But with Goldco's professionals and process, this may vary.
When can I take distributions from my IRA?
Either you or the beneficiary of the IRA can start getting penalty-free distributions from the account at the age of 59 and a half years old.
Can I sell to Goldco?
Yes of course! Goldco has an excellent buyback program for clients who wish to liquidate their precious metals.
What is the minimum purchase at Goldco?
The minimum purchase at Goldco is $25,000.
Are there penalties in transferring funds from an IRA or 401(k) to a gold IRA?
No. If the rollover process is done correctly, the funds can be transferred without paying any taxes or penalties.
Can I buy precious metals without an IRA?
Yes, of course you can! Goldco has a wide range of precious metals ready for you. Plus, they offer storage services to ensure the safety of your gold and silver products.
What about Goldco's Ratings and Reviews? (Updated May 2023)
Here in Your Gold IRA Guide, we really value ratings and reviews of each companies. They give us an insight of what customers experience with the companies. Below are the ratings and reviews of Goldco from various websites:
- BBB - A+ rating, 4.83 out of 5 rating based on 515 reviews and 24 complaints, BBB accredited since 2011
- BCA - AAA rating, 5 out of 5 rating based on 1 review
- Trustpilot - 4.8 out of 5 rating based on 1137 reviews
- Trustlink - 5 out of 5 rating based on 254 reviews and complaints
- ConsumerAffairs - 4.8 out of 5 rating based on 1384 reviews
If you visited its BBB profile, it has current alerts. However, it is not much to worry about since the alert only says that consumers who wish to file complaints should contact Goldco directly.
However, Goldco literally has ZERO complaints in BBB! That is a HUGE plus.
Clearly, most of the customers really enjoyed and the products and services of Goldco! Below are some testimonials of satisfied investors and customers.
As you can see, customers are not just satisfied with the products, but also the customer support. Goldco representatives will really assist you throughout the process.
So, if you are a beginner, you are in good hands. These representatives are not mere employees, but they are experts and professionals in precious metals.
With that, Goldco also values educating their investors, giving them resources to read to learn more about the market and how to wisely invest in precious metals, to diversify their investment portfolios.
But wait a minute, all companies are not perfect. Of course, Goldco has its fair share of negative reviews and some complaints. But these are not major concerns.
For example, the one below shared that customer representatives failed to get back to him and needed to contact Goldco again. This is very common for most companies though.
And another one is when the precious metals arrived late. Again, this is common since there are possible delays that may happen during the shipping. But on the bright side, Goldco has always made sure to reply to these reviews, showing their excellent customer support and service.
Goldco Pros and Cons
- A+ BBB Rating
- Great customer services
- Low fees
- Positive customer ratings and reviews
- Special offers for new customers
- Educational resources
- Free storage for non-IRA precious metals
- No online account setup application
- IRA minimum deposit starts at $25,000
Is Goldco A Scam?
To conclude this Goldco review, it's time to answer whether they are a scam or not.
Fortunately, Goldco is a legit precious metals firm.
It has been in the industry for years, providing excellent services to its investors. This led to receiving recognition from different publications.
If you truly want to add precious metals to your portfolio or you just want to purchase precious metals, then Goldco is a great choice. The only concern I have is its minimum amount of money for depositing. $25,000 is quite high for majority of the people.
If you want to learn more about Goldco, then click on the image below to receive your very own, FREE GOLD GUIDE!
Thank you so much for reading my Goldco review! If you have any questions or comments, please feel free to leave them below in the comments section below!