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Goldco Review: A Look at Goldco, a Leader in Gold IRAs

Are you looking to invest in gold or other precious metals? You may want to consider Goldco Precious Metals, LLC. In this Goldco review, we'll take a look at their services, the pros and cons, and what sets them apart from other precious metal investment companies.

Offers both Roth Gold IRA and Traditional Gold IRA rollovers

Also offers platinum and palladium in addition to gold and silver

Short wait time for phone customer service

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Goldco Services

Goldco is a well-established company with almost twenty years of experience in the industry, a wholesale gold purchase leader and also the fastest-growing gold IRA company over the past five years. They are a full-service precious metals company, meaning they can help you with everything from buying and selling gold to storing it safely. They also offer self-directed Gold IRA accounts, which are helpful if you want to transfer or rollover an old IRA or employer retirement account. Investment experts help you decide what to open, how to open it and what to invest into.

Types of Precious Metal Investing offered by Goldco

  1. Purchase precious metal bars directly
  2. Purchase precious metal coins directly
  3. Purchase precious metal coins or bars within a Self-directed Gold IRA
  4. Purchase precious metal coins or bars within a Self-directed Gold Roth IRA

While you don’t necessarily need an IRA for your gold and other metals, it is helpful if you want to move some of your current retirement accounts to precious metals and keep the tax-advantages of an IRA. While it is generally called a Gold IRA, you can also purchase silver, platinum, or palladium in a Goldco Gold IRA (and it is technically a self-directed IRA). If you decide to move over old retirement accounts, you can roll over an existing IRA, Roth IRA, 401(k), Roth 401(k), 403(b), Roth 403(b) or other qualified retirement accounts to a self-directed Gold IRA (or Self-directed Gold Roth IRA). If you don’t want to move your other retirement accounts over you can simply purchase precious metal bars or coins directly.

Where is the gold stored?

Goldco does not hold your precious metals directly, but they take care of the details and this handling is included in their fees so you don’t have any additional work. Their main servicer is Delaware Depository and for a slightly higher annual fee they also use International Depository Services. The set-up, transfer, and maintenance are included in the annual and set-up fee.

What precious metals can I invest in?

Goldco primarily specializes in gold and silver bars and coins but they also offer platinum and palladium bars and coins. Their investment experts primarily recommend gold and silver.

Goldco Pros:

They are the largest wholesale purchaser of gold and silver in the United States so they are able to buy at a lower price and pass on savings to you

As of March 2022, you get a 5% bonus of silver (free silver) if you rollover at least $50,000 and a 10% bonus of silver if you roll over at least $100,000.

Rated A+ by BBB and AAA on Consumer Affairs plus Google Reviews and other reviews for customer service are very high and in business almost 20 years

Offers a transparent flat fee of $200/year for the gold IRA plus an $80 set up fee the first year for a Gold IRA.

Offers both Roth Gold IRA and Traditional Gold IRA rollovers

Also offers platinum and palladium in addition to gold and silver

Short wait time for phone customer service

Goldco Cons:

Minimum rollover amount of $25,000 for Self-directed Gold IRAs

Flat annual fees are fairly transparent but wholesale price vs. retail price is not disclosed in most cases.

How is a Gold IRA different from a regular IRA?

An Individual Retirement Account, often referred to as an IRA, is a tax-advantaged way to invest for retirement. A Traditional (pre-tax) IRA allows you to contribute to a retirement account on a pre-tax basis, get tax-deferred growth, and then your contributions and earnings are taxed as ordinary income when you withdraw funds, which is helpful if you are in a lower tax-bracket in retirement compared to earning years. A Roth (post-tax) IRA has post-tax contributions, tax-deferred growth, and tax-free withdrawals. Withdrawals before age 59.5 for both Traditional IRAs and Roth IRAs result in tax penalties in many cases.

A Gold IRA is different from a regular IRA because it can hold physical precious metals instead of only precious metal funds. A regular IRA can hold precious metal exchange traded funds (ETFs) or mutual funds but not actual gold or other precious metals. While some gold funds track the value of gold fairly close are considered suitable investments for some, not everyone wants to rely on the stock market for their gold and precious metal holdings. Some investors fear that gold ETFs will no longer remain correlated to the actual value of gold, especially if there is an event in the stock market causing a major bear market. This is where holding physical gold and precious metals can be advantageous- it is another layer risk mitigation for uncertain markets.

Diversification Considerations

There are a few things to keep in mind when investing in precious metals. It's important to know that the price of gold and other precious metals can be volatile. There are some misconceptions that gold is not volatile compared to investing in stocks or that it will always be a hedge against inflation. While it’s true that gold is not necessarily correlated with stock indices such as the S&P 500, gold has been volatile during some periods and can lose value. Also, while it has historically held value compared to the dollar since 1971, this is not guaranteed. While it generally recommended to buy and hold for longer periods of time, Goldco can help you monitor the market and advise on market timing considerations.

Due to the volatility noted above, it's important to diversify your investments between stocks, bonds, cash, real estate, various precious metals and perhaps consider other alternative asset classes as well. In other words- don't put all your eggs in one basket. Moving all of your retirement accounts to gold and silver out of market fear, for example, is not recommended. However, if you have an account that you’d like to move to precious metals then rolling over to a Goldco Gold IRA could be a good option. It is also not recommended to only invest in one type of precious metal, so Goldco can help you diversify your portfolio by investing in gold, silver, palladium or platinum.

Conclusion

For investors with retirement accounts to rollover above $25,000, Goldco is a top choice. The main reason is that they are the largest wholesale buyer of gold in the United States and their prices, therefore, will remain competitive. They are also growing quickly so their prices should remain competitive through the years. Their customer service, ratings, partners and processes are all in good order making them a trusted choice for your precious metals purchase.

All investing contains a degree of risk. Some investments are riskier than others. The information and recommendations on GoldAdvocacyGroup.org should not be construed as financial or investment advice. The owner / operator of this website does not have any financial or investment certifications or licenses. The information on this website is for general educational purposes only. We recommend that you consult with your financial adviser before making any investment decisions regarding information gathered from this website or any website.