You have decided that a Gold investment is suitable for your future. Now you are looking for a reputable company to monitor your assets and manage your finances. Where do you start? Who do you trust?
Goldco Precious Metals (also known as Goldco Direct Llc) is a well-established gold investment firm with extensive experience and proven success. Let’s take a look at this impressive company and all the benefits it can provide.
What You Should Know About Goldco.
Goldco is a privately held company based in Los Angeles. The investment firm has over a decade of experience helping customers protect and grow their retirement savings.
Whether you want to buy gold and silver directly or are interested in converting your retirement savings to a Gold IRA, Goldco has you covered.
An Impressive Reputation
Goldco holds an A+ rating from the Better Business Bureau and a AAA rating from Business Consumer Alliance.
Their exceptional reputation, proven track record, and variety of options make Goldco a top choice in precious metal investing.
Over the past year, Goldco has experienced impressive business growth and has shown that it can meet the ever-changing needs of the average American investor and the demands of an evolving market.
Which Services/Products Does Goldco Offer?
Goldco specializes in precious metal IRAs and allows clients to invest in and purchase physical gold and silver. Goldco also offers interested investors the option to acquire platinum and palladium.
Goldco’s Services
Goldco offers a variety of services, with the main one being its precious metal IRA. Below we will look at this service and how Goldco differs from competitors.
Self-Directed IRAs
A popular investment option, a self-directed IRA allows investors to hold alternative investments in an account that helps ensure financial security in retirement.
With regular self-directed IRAs, you can invest in assets such as real estate and non-traded businesses. For example, you could invest in a local horse farm that is not currently a member of public trading.
Goldco’s Precious Metal IRAs
Goldco can help you build, create, and monitor a precious metals IRA that will work against inflation and secure your financial future.
A precious metals IRA with Goldco holds precious metals. The physical product, stored in a secure facility, provides a cushion against inflation.
Goldco has been overseeing precious metal investments for more than a decade. They have knowledge and expertise on the market and can direct you to the best options to build a diverse, secure portfolio.
Self-directed IRAs have become popular because they often provide better investment returns. However, along with big returns, there is also a significant risk. Goldco helps limit that risk by providing experience, knowledge, and guidance.
Direct Purchases For Gold, Silver, And Other Precious Metals
Goldco is an excellent option for investing in precious metals. The company specializes in gold and silver IRAs and allows investors to purchase physical gold and other precious metals without an IRA.
Goldco specialists can help you find the precious metals you want to buy and will arrange for storage or shipment that is safe and secure.
Cryptocurrency IRAs
There has been increased interest in cryptocurrency IRAs, which is no surprise given the current economic climate. Although Goldco does not directly offer cryptocurrency IRAs, they have a sister company, CoinIRA, that can assist those interested in digital currency.
What Are Goldco’s Fees?
Unlike mutual funds or other types of IRAs, the fees incurred through a Goldco IRA are billed as a flat fee yearly. Goldco fees are not billed as a percentage of your assets, meaning the more precious metals you own, the lower the expenses.
Goldco offers various promotions, and you could receive a break or return on past and upcoming fees.
Goldco Fees vs. Competitors?
One of the best things about Goldco is its dedication to transparency. Goldco aims to be open and honest about its fees and processes, making it a crowd favorite in investment communities.
Goldco features a low-fee model for investing, ensuring your money goes where it belongs.
- Fees for a Precious Metals IRA through Goldco start as low as $260 per year for your first year and $180 yearly after that.
- Storage fees will also be required, as with any precious metals IRA. For this service, Goldco charges $100 for non-segregated storage and $150 per year for segregated storage.
- All IRAs have a yearly maintenance fee attached to ownership. This fee is $80 until the account reaches more than $100 000. Anything over this amount will increase the maintenance cost by $50, making it $130 annually.
- There is a one-time charge to set up an IRA. This fee is $50.
- Lastly, there is a $30 charge for funds sent through wire transfer.
Any non-IRA transactions hold zero fees. Goldco offers FREE, prompt delivery on all cash sales and FREE storage – a rare benefit not offered by many companies.
How to Open a Goldco Precious Metals IRA
Opening a Goldco IRA is straightforward. The process is laid out on their website, and much of it is automated for you.
A Goldco specialist is always available to help you complete your rollover.
Steps To open a Goldco IRA:
Step 1 – Open Your Goldco IRA
The first step is to sign an agreement to secure your precious metals IRA by reading through the Goldco user agreement and terms of service. A representative will guide you through the entire process.
Step 2 – Fund Your Self-Directed IRA
Funding your new self-directed Gold IRA is also simple. You can roll over any existing retirement assets, such as 401(k), 403(b), TSP, savings, or other retirement accounts.
Step 3 – Purchase Your Precious Metals
Once you have funded your Goldco IRA account, you can choose which metals you want to purchase. An expert will be on hand to help you decide on your options and guide you through the entire process.
Which Investor Is Best Suited For Goldco?
Investing in precious metals is an excellent choice for everyone, especially those nearing retirement or those concerned about another financial crisis.
Precious metals investments help to protect against market fluctuations and crashes.
A precious metals IRA is ideal for someone who:
- wants diversity
- seeks security
- understands the stability of owning physical assets.
Do the research and seek financial advice if you are unsure how a precious metals IRA can benefit your future.
Why Should You Choose Goldco?
There are many reasons to choose Goldco:
Goldco …
- is one of the most reputable companies on the market.
- has over a decade of experience.
- has an incredible transparency policy.
- offers many benefits and promotions to new clients.
- can make you money.
- has low, flat-rate fees.
- has exceptional customer service.
- has impressive customer reviews, showing proven success.
Pros and Cons of Goldco.
As with any company, there are pros and cons to Goldco Precious Metal.
Pros
- The setup process is easy.
- Customer service agents are friendly and available to help
- Receive the same tax advantages as traditional IRAs
- Great promotions, including free storage, no fees, etc
- BBB A+ approved and a Triple A rating with the BCA
- A long history of experience and success
- Fantastic buyback options
- Transparency of information and fees
- Extensive customer reviews and impressive ratings
- Extensive information and expert articles are available on their blog
Cons
- There is a minimum deposit amount of $25,000
- You must speak with a representative to set up your account
- Fees are not openly listed on the website
- Higher premium on exclusive coins
- IRAs are only available in gold and silver
Goldco’s Customer Feedback And Rating
Goldco can easily boast one of the highest customer feedback ratings on the market. It is difficult to find negative customer feedback, and most reviews are incredibly positive.
Clients value the transparency of Goldco and appreciate the exceptional customer service. You can speak with a representative directly from their website whether you are a customer or not, and they are always available to answer any questions and concerns you may have.
The exceptional customer service offered by Goldco is one of the reasons they are considered the leader among competitors.
Why Put Gold in Your IRA?
A precious metals IRA is quite similar to a traditional IRA. This investment type allows you to own alternative assets that can potentially enhance your future.
With a Goldco IRA, for example, you can invest in physical products and precious metals that act as a buffer against inflation and market changes.
Gold has long been a sought-after commodity.
Since early Egyptian times, a significant value has been placed on precious metals, which has not changed with time.
In fact, despite the pandemic, gold prices remained far more stable than other types of investments.
The proven stability of gold means that you can have peace of mind as an investor and security in your retirement.
There is enough to worry about in life, so why not alleviate some stress by creating a diverse, secure portfolio with a precious metals investment?
REAL Goldco Customer Reviews
Finding customer reviews for the Goldco company is super easy. A quick Google search yields excellent results. Here are a few of our favorites:
“I received very professional help with my gold and silver purchases through Goldco. Everyone I spoke to was friendly and very knowledgeable. I have great confidence in Goldco handling my retirement account. The extra silver bonus was a nice plus to my account.“
– Dale of Laurel, MS, consumeraffairs.com
“The service, the information, the communication skills, the honesty, and the respect all encompass a great company. I highly recommend this service, especially for novice or first-time investors.“
– George, preciousmetalsiraguide.com
“This was a wonderful experience working with Arthur Schwartz from Goldco. He answered all my questions and made the whole process of setting up my Goldco Gold IRA very comfortable. I would highly recommend to anyone interested in opening a Gold IRA to use Goldco.“
– Billy of Stilwell, OK, consumeraffairs.com
“My experience with Goldco representatives was great. Everyone I spoke to put my mind at ease. I loved dealing with Oscar Avilles. He took all the time that was required to answer all my questions and address any concerns I had. The only thing that kept me from rating a 5-star experience, is the premium prices compared to the real price of each coin was extremely high. I also understand because of the high demand at this time, it was warranted.“
– Dianne of Plains, MT, consumeraffairs.com
These reviews are only a fraction of the fantastic feedback out there about Goldco. Clients, new and old, appear to love this company and its impeccable customer service team.
Take time to look for yourself, and reach out to the specialists at Goldco if you have any questions.
Goldco’s Agents Support You During Every Stage
It is no wonder that Goldco is said to have fantastic customer service. They wholeheartedly support their clients through every step of the process.
Reaching out to the specialists at Goldco is super easy, and they are always ready to answer questions. The customer specialists are patient and educated. They know and love the company they are working for, which is apparent in their approach. They are always happy to assist you, whether you are a current or prospective client.
Although some people see it as a negative, you must speak with a client specialist to set up your precious metals IRA account. Speaking with an agent helps to ensure eligibility and allows you to clarify any areas you may not fully understand. If I can avoid it, I prefer not to talk to salespeople, but the Goldco representatives do not try to sell to you. Instead, Goldco Reps are there to assist you in your self-directed journey and will arm you with valuable information no matter the outcome.
What To Know About IRA Rollover Services
Does moving retirement savings around make you nervous? You’re not alone.
There are plenty of questions about rolling over an IRA, many of which are legitimate questions that should be asked. After all, it is your hard-earned money and future at stake.
Below you will find the answers to a few common questions about IRA rollovers.
What is an IRA Rollover?
A rollover of your IRA allows you to move funds from one place to another, for example, from a prior employer-sponsored retirement plan into an IRA. This process will enable you to maintain your retirement asset tax status and avoid paying taxes or early withdrawal fees while benefitting from the move.
What is the difference between a rollover, a transfer, and a conversion?
The main difference between a rollover and a transfer is that a transfer is a way to move money between accounts of the same type. In contrast, a rollover allows funds to be moved between two diverse kinds of retirement accounts.
For example, when you move funds from one IRA to another IRA through a different bank, this is considered a transfer. However, moving money from your 401(k) to an IRA account is a rollover.
Conversion is another way to move funds, which applies to traditional and Roth IRAs. A Roth conversion occurs when money is transferred from a traditional IRA to a Roth IRA.
Knowing the difference is essential because each option has distinct rules and guidelines. For example, a rollover must be completed within 60 days, or the money withdrawn from the original account is considered regular taxable income and subject to taxes, penalties, or fees.
How To Convert A 401K To A Gold IRA
While a 401(k) is an excellent tool for retirement savings, it is not perfect. Many people want to hedge against inflation, and thus, a 401(k) is not an ideal option.
Converting your 401(k) to a Gold IRA can protect against inflation and help increase your future savings.
Why convert?
Before you convert, you should understand why converting can be beneficial.
People convert their 401(k) to a precious metal IRA for various reasons.
Although retirement savings will increase over time, even without you taking action, this increase is not guaranteed.
Rising inflation can wreak havoc on retirement investments, and market fluctuations are often a cause for concern. We have seen the impact of public panic on the market more than once.
On the other hand, an investment in precious metals tends to be the exception to every investment rule and can withstand even the most volatile market events.
Take the recent global pandemic as an example. While all other areas significantly dropped or crashed, the price of gold remained stable.
Precious metals are one of the most secure investments because they will always be in demand across the market.
Converting Your 401(k) Into A Gold IRA.
Converting your 401(k) to an IRA is easy, but a few steps should be completed.
Step 1: Research And Open An IRA Account.
Before you finalize your decision, you must make sure it is the right choice for you. Do research. Learn about Goldco Gold IRAs and ensure you understand the process, the limits, and the pros and cons.
Look into the various companies that host precious metal IRAs to find one that works for you and your goals.
Be sure to consider the following:
-
- The costs and fees
Be sure you understand all the fees involved in a Gold IRA, including storage or custodial fees, purchasing fees, penalty fees, annual fees, etc.
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- The buyback policy
Enquire as to the buyback policy of each company. Goldco, for example, has an excellent buyback policy. Goldco will buy back any precious metals at a fair, legitimate price, ensuring you are not losing and are in line with current market values.
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- Type of metals you can hold
Each company has different rules and abilities. Ensure you inquire about the types of metals allowed in the company’s IRA accounts before making any decisions. Some companies can only hold gold and silver, whereas others can also have platinum and palladium.
-
- How long does the rollover process take?
How long the process will take is an essential question that you must ask before you begin the switch from a 401(k) to a Gold IRA. Rollovers must occur within 60 days of withdrawal to remain tax-free. After 60 days, all money is viewed as income and subject to taxes, penalties, and fees.
Once you have done the research and feel comfortable about investing in precious metals, you can open a precious metals IRA account.
If you have opted to go with Goldco to open your IRA, then a client specialist will be on hand to walk you through switching your investments.
While many companies are happy to assist customers, none do this as well as Goldco. Their top-notch customer service ensures you never feel lost, overwhelmed, or confused by the process, and they are always available if you need help.
Step 2. Select A Custodian
Precious metals in an IRA require an IRS-approved custodian to oversee and manage their storage and handling. A custodian helps ensure the product’s authenticity and legitimacy and provides security for investors.
Traditionally custodians are banks, investment firms, or brokerages who are knowledgeable and experienced in the type of assets you wish to hold in your IRA fund.
You must ensure that your custodian is IRS-approved and experienced in precious metals. Selecting the wrong custodian can result in severe penalties and losses.
Goldco can assist you in choosing a suitable custodian for your investment and works closely with various members in the field to ensure your investment is safe, secure, and up to IRS standards.
Step 3. Complete The Rollover.
Once you have decided to switch from a 401(k) to a Gold IRA, have researched all the fees involved, and have chosen a custodian, it is time to begin the switch.
As explained above, the rollover process must take place within 60 days of the original withdrawal date to remain in tax-free status.
Goldco makes the process easy, and with the help of their knowledgeable specialist team, switching can be completed in as little as two weeks.
There are a few things to know about the switch from a 401(k) to an IRA,
Switching from a 401(k) to a precious metals IRA can be easy and stress-free when it is done right. Arm yourself with knowledge and ensure you have everything you need to smoothly make the transition.
It is important to note that the sooner you switch, the better you will be.
Switching before the age of 59½ will provide essential tax breaks and help you avoid certain federal taxes.
Step 4. Buy Precious Metals.
You have made a choice, opened a Goldco Gold IRA account, picked your custodian, and completed the rollover to fund the account, now is the fun part.
You can begin to purchase precious metals for your new IRA.
Depending on which company you choose to work with, you can purchase silver, gold, platinum, or palladium and store it at an approved facility.
Keep in mind that storage will cost you extra with many companies. This additional cost is something to consider long before you make the switch.
Types Of Metals And Tips For Purchase.
When you want to add precious metals to your IRA account, there are many things to consider. Not only do you need to know what type of metals you can purchase, but you also need to know where you can purchase from and how much you can buy.
These tips can help you select the best metals to hold in your IRA.
- Choose bullion that has a low premium over spot price.
Since bullion is sold by weight, the cost is a factor to consider.
- Consider coins with high liquidity.
Generally, a good choice for individuals to sell, coins often have a lower premium than bullion bars.
- Don’t forget the storage fees.
Owning an extensive collection of gold bars may sound incredible, but it can get costly. Consider how much it will cost to store the products before you buy.
Storage Options with Goldco
For many people who are approaching retirement, there is still the idea that if you can hold something in your hand, you know it is real. These people make a good point. Unfortunately, when it comes to gold and silver investments such as a Gold IRA, holding that tangible, physical product is not beneficial and may actually end up costing you big time.
Secure Storage Rules for IRA Metals.
The same rules govern an IRA in precious metals as a traditional IRA, and strict guidelines must be followed.
Where you store the metals held in your IRA tends to be one of the most significant points of contention regarding this popular retirement investment product.
According to the rules, gold, silver, and other metals held for retirement must be housed in an IRS-approved facility and overseen by a registered trustee.
As the investor, this means you will not have tiny gold bars lining your closet. This rule exists for a few reasons.
First, it is for your safety and security. Imagine the risk if someone found out you were hiding a bunch of gold in your home.
Second, these guidelines ensure that the precious metals held in an IRA account are top-quality and have not been tampered with.
Thankfully, Goldco can assist in the storage of your precious metals.
Goldco’s storage fees:
$100 for non-segregated storage
$150 for segregated storage.
These fees increase if the account surpasses $100 000, but they are billed yearly and are a flat-rate fee, which is much better than the asset-based fees found elsewhere.
Gold and Silver IRA-Approved Coins in Goldco
Goldco has a wide array of options to choose from when you want to purchase silver or gold.
The variety of IRS-approved coins available to investors from Goldco is impressive.
You can view some of the options on their website without an account, but account holders can browse a more comprehensive selection and will have the assistance of a Goldco Specialist.
Precious metals purchased through your Goldco IRA account are stored through the company, and promotional options are often available to lower the fees.
What are the Available Tools for Investors?
Goldco offers several valuable tools to investors. However, none is more useful than their on-call specialists.
After signing up with Goldco, you are connected to a Goldco specialist who is available to help you decide how to invest your funds.
This company’s helpful, hands-on approach is one of the reasons investors love it. Goldco customer service representatives are always there to help and can answer any questions that may arise. You can also get your FREE copy of Goldco Gold IRA Kit HERE
Frequently Asked Questions (FAQ)
- Can I take physical possession of my metals?
No. Precious metals you want to hold as part of your retirement savings must be stored in a secure, IRS-approved facility.
If you wish to purchase a physical product that you can store at home and hold in your hand, this can be done through Goldco but is not considered an asset of your IRA account.
- What are the risks associated with a precious metals purchase?
Like any investment, there are risks to precious metals, and pricing tends to be the most significant risk factor. Precious metals are relatively consistent in value, but fluctuations do occur. There is also a risk of overpaying for a product initially, which impacts its value later.
Another risk factor to consider when investing in precious metals is trading disruptions. Exceptional circumstances may lead to a disturbance in trading. While this is an improbable occurrence, it is something to consider.
There is always the risk of identity theft as well. Purchasing precious metals online can be risky if you fail to use a reputable company. However, using Goldco can help prevent this issue and ensure safety.
- Who is eligible for a Precious Metals IRA?
Eligibility for a precious metals IRA is the same as a traditional IRA. If you are employed and receive income, you are often eligible.
There are minimum investment amounts required for funding an IRA, however. Thus, reach out to a financial advisor if you are unsure.
- What type of metals can I keep in my Precious Metals IRA?
A precious metals IRA can hold gold, silver, platinum, and palladium. However, strict rules govern these metals; all must be top quality and should be purchased and stored with an IRS-approved source.
Final Thoughts on This Goldco Precious Metals Review
Goldco is one of the market’s most well-known, reputable gold investment firms. Their extensive experience, variety of options, and exceptional customer service make them a crowd favorite in the investment community.
With highly positive ratings from BBB, BAC, and TrustLink, the company provides peace of mind to investors.
While self-directed, the specialists at Goldco are always available to help you make decisions about your investments. The company goes above and beyond to ensure you are making the most of your retirement funds and is always willing to help where it can.
If you have decided to invest in precious metals, a conversation with Goldco should be on your To-Do list. Reach out today and build yourself a brighter tomorrow.
Alternative Options To Goldco Direct LLc.
While Goldco is often thought to be the best option, it is not the choice for everyone. There are plenty of alternatives out there and you should do research to find the company that is the best fit for you.
Here are a few alternatives to consider:
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Augusta Precious Metals:
Agusta Precious Metals is another company with high customer rankings. According to Money Magazine, Augusta is the Top Gold IRA company of 2022
One of the reasons that customers like Agusta is that they can make an appointment to visit the facility where their metals are being held. This provides a great deal of security and peace of mind. However, there are other benefits as well…
With Agusta Precious Metals:
- Unique one-on-one video conferences allow you to stay informed
- They aim to keep clients educated
- Not commission-based, so there is less sales pressure
- Your persoanlly assigned agent will be there for support
- Competitive, transparent pricing
- Lifetime account support
- Strong relationship with The Royal Canadian Mint
Augusta Precious metals has many benefits and is worth looking into if you are unsure of which company to choose. Get Your FREE Augusta Gold IRA Guide HERE
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Birch Gold Group:
An alternative to Goldco or Agusta is Birch Gold Group. This firm offers exceptional customer service and boasts and all-in-one package that is extremely helpful.
Some of the main benefits of Birch Gold Group include:
- Outstanding Customer Service
- Low fees
- Transparancy in operations and pricing
- Happy customers
- Lower minimum investment options
- Committed to education
Birch Gold Group is another company you can consider when choosing to invest in precious metals. Get Your FREE Birch Gold IRA Kit HERE
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Regal Assets Wealth Group:
Regal Assets is an interesting option to consider for your investments, especially if you want a diverse portfolio. Not only does Regal deal with the purchase of precious metals, they also allow customers to invest in crypto.
Benefits of Regal Asset Wealth Group:
- Variety
- Cryptocurrency options
- High customer ratings
- Good reputation
- Segrated storage
- Good customer service
- Corporate priority (which is both a positive and negative)
If you are considering other options, checking out Regal Asset Wealth Group is worth a try.
There are so many gold investment firms out there, making a choice can seem daunting. If you are confused or concerned seek professional financial advice from a licensed advisor.
Goldco Precious Metals Review – Goldco Direct Reviews
Goldco Direct Review
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