Goldco Precious Metals Review 2020
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|Goldco Precious Metals
21215 Burbank Blvd Suite 600
Woodland Hills, CA 91367
|Goldco is the leading provider of precious metals IRA’s. They pride themselves in customer service and the ability to help individuals diversify their retirement accounts.|
|I aim to provide the best and most accurate information to my readers on this website. Some of the links in this post are from sponsors. Read my Advertising Disclosure.|
If you have not thought of investing in precious metals before, this is the time!
In uncertain times, which we are in right now with a pending financial crisis, it is important to turn to safe-haven investments to protect and grow your wealth.
“Precious metals should not be seen as an investment, but as financial insurance”, Trevor Gerszt – founder of Goldco Precious Metals.
Unlike stocks, bonds, and mutual funds that are all tied to the dollar, precious metals stand on their own.
Historically, precious metals move in the opposite direction of traditional securities like stocks, bonds, and mutual funds. When the stock market goes down, the price of gold and silver tends to rise.
If you are looking for a tried and true investment that can provide stability to your portfolio, consider a company like Goldco.
Goldco’s specialty has always been the sale and delivery of gold and silver coins that are IRA approved and specializes in helping you identify which precious metals are right for you.
The company was first established as Gerson Financial Group LLC, with a focus on business-to-business precious metals sales.
Goldco has its headquarter in Woodland Hills, California, and is a full-service precious metals firm that specializes in gold and silver IRAs but also sells precious metals directly to customers.
The company has helped thousands of people diversify, grow, and protect their wealth with physical metals like gold, silver, platinum, and palladium for fourteen years now.
Goldco’s mission is to help Americans protect their retirement accounts from stock market volatility and inflation through the use of precious metals.
Goldco also offers direct sales of precious metals coins and bullion to collectors and investors.
Inc. Magazine named Goldco the third fastest-growing financial services company in the US in 2015.
And the Los Angeles Business Journal named it the 17th fastest-growing company in the greater Los Angeles Area.
Since 2011 the company has grown from ten staffers to, by the close of 2016, over ninety employees.
Goldco, the gold company you can trust, is a great choice for many types of investors, including those who:
Think back to the 2008 Great Recession. It was a devastating time for millions of investors and many people lost it all.
Now, due to the Covid-19 outbreak, we are facing another financial crisis, and the effects on the economy will be long-lasting.
“Market risk and uncertainty are long term drivers of the price of gold, our expectation is we’re going to continue to face one of those two factors.”
Cavatoni is indicating that the price of gold is going to continue to rise, and this is just the start.
If you are looking to hedge against this economic downturn, precious metals can provide the stability and protection you will need.
Goldco offers two major services: precious metal IRAs and direct purchases, but you can also purchase cryptocurrencies from Goldco’s sister company.
Non-IRA Precious Metals
Any investor can buy precious metals through the company. You do not have to be a certain age or have earned income.
When you buy precious metals outright, you can either keep them in a secure vault or have them delivered to your home—whichever you prefer.
Precious Metal IRA’s
As long as you have earned income and are under age 70½, you are eligible for a traditional IRA. Goldco offers gold IRAs, silver IRAs, or a combination of both.
Per IRS regulations, Goldco stores IRA precious metals in a third-party, state-of-the-art vault.
It uses Equity Trust Company as its preferred IRA custodian.
Goldco has a sister company, CoinIRA, which offers cryptocurrency IRAs for investors interested in digital currencies.
Due diligence is important before investing money into anything, whether it is stocks, bonds, gold or silver.
How do investors know they are working with a legit gold IRA dealer?
Fortunately, the World Wide Web makes it difficult for companies to hide. Clients/customers can go online and vent any frustrations they may have with the gold IRA companies.
Goldco remains a greatly respected company in its industry, at the same level with its highly regarded rivals and foremost among the sector’s leading competitors.
As you can see, it is difficult to find any negative reviews about Goldco, despite their fourteen years in business:
Precious metals IRAs at Goldco must pay storage fees every year.
For non-segregated storage, the annual charge is $100. For segregated storage, it is $150.
There is also a yearly IRA maintenance fee of $80. Once a retirement account reaches $100,000, the annual fee increases by $50.
In addition to the annual fees, there are also one-time charges. An IRA has a setup fee of $50 and depositing funds by wire is a $30 charge.
Adding up all the fees, we see that a Goldco IRA with non-segregated storage costs $260 for the first year (setup fee, wire fee, annual fee, and first year of storage) and $180 every year after that, assuming no additional wires.
While this may seem like a lot of fees, regular taxable accounts at Goldco have no fees of any kind. There are no annual fees, start-up costs, or storage expenses.
The required starting balance for an IRA is $25,000. For taxable accounts, the minimum is $3,500.
Precious Metals IRA Fees
Goldco Fees For Non-IRA Transactions
Wondering how much money you need to invest with Goldco? The chart below lists fees for IRA and non-IRA transactions:
Goldco Investment Minimums
Goldco offers new customer specials that can save you a great deal of money:
- Goldco is waiving all fees during your first year when you open an account with at least $50k.
- You will earn 5% back in free metals when you place a qualified order over $50k.
- If you open an account with exactly $50,000, you could save up to $320 in fees and receive $2,500 worth of free metals depending on which ones you buy.
Goldco does not offer any storage options for its customers. They also do not mention any preferred storage or vault partners on the website.
What they do offer is to assist you in transferring any gold or silver coins that you purchase over to a secured vault that is found in an IRA-approved depository.
The company does make an issue about not co-mingling any IRA precious metals in the storage facility, which means that they are encouraging one of several nationally known vaults like IDS in Delaware or Brinks Storage.
Goldco makes customer education a priority. Goldco has a Knowledge Center on its website, where you can find everything from prices of gold, silver, platinum, and palladium to eBooks and videos.
Included in their eBooks are hot topics like:
- 10 IRA and 401k Mistakes You Are Making
- 10 Reasons the Dollar Will Crash
- How China Will Destroy Your IRA or 401k
- The Truth About Home Storage IRAs
- The American IRA and 401k Crisis
- How to Buy Gold and Silver
You can also find educational videos like:
- America’s Monumental Retirement Dilemma
- Things Are Looking Bleak for European Markets
- Stock Market Crashes
- Can You Trust Mega Banks?
- Five Threats to Your Retirement
- Invest in Hard Assets
In this video, for example, you will learn 5 reasons to why it is a good idea to rollover your IRA to gold:
For years, the Gold IRA Experts at Goldco have helped investors take advantage of little known loopholes in retirement account rules that eliminate fees and taxes when exchanging stocks and bonds for physical metals like gold and silver.
If you want to jump on the precious metals bandwagon as well, the easiest way to start a Goldco Precious Metals IRA is to fill out an application online and you will be contacted by a gold IRA expert from Goldco.
As with all financial accounts, personally identifiable information such as social security numbers will be required during the establishment of an account.
If you do not already have a precious metals custodian company, Goldco will assist you in setting up an account with one of their recommended custodian companies.
As part of the setup process, Goldco will either mail or email you a comprehensive guide explaining the precious metals options for you to review before making a decision on what types of metals to place in your IRA.
Goldco has a 100% Customer Satisfaction Guarantee so that you can feel completely safe.
Do not worry about your existing retirement plan, Goldco makes the rollover process painless and easy.
The process in short:
- A Goldco specialist will help you open a new Goldco Precious Metals IRA and help you fund your account with your old IRA.
- Once the money from your old IRA transfers, a specialist will help you select precious metals that suit your needs and investing goals.
- You will be guided through every step and the whole process often takes about 10 business days.
As simple as that!
|If you later decide to sell your precious metals, Goldco will buy them back from you, and to a much better deal than from most coin dealers.|
Question: Do my precious metals have to be bars or can they be coins?
Answer: While some coins can be included in Precious Metals IRAs, only certain coins are IRS approved for inclusion in IRAs. In fact, not all bars or bullion are IRS approved. The IRS maintains a list of acceptable forms of precious metals for IRAs. Goldco deals in a variety of precious metals for IRAs within IRS guidelines.
Question: Can I choose any custodian and storage company or do I have to use Goldco’s recommended companies?
Answer: Yes. While Goldco recommends Self Directed IRA and Equity Institutional as custodian options and Sterling Trust for storage, you can choose your own custodian and storage companies.
Question: Can I store my precious metals at home?
Answer: No. IRS rules forbid keeping your IRA precious metals at home or in a standard safety security box. They must be held by an approved non-bank trustee or a bank within IRS guidelines that restricts access and keeps all precious metals segregated by the customer. This ensures exact metals purchased by a specific customer are returned to that same customer once legal distribution requirements are met.
In other words, just like a Traditional IRA, the access to the precious metals in your Precious Metals IRA must be restricted in specific ways to ensure deposit and disbursement laws are followed.
Question: Are the values of the precious metals I buy for my IRA guaranteed?
Answer: No. Like all investments, the future value of precious metals is not guaranteed and can rise or fall based on a variety of market influences.
Question: When will I be eligible for distributions from my Goldco Gold IRA?
Answer: At age 59½, you or the beneficiary of your Precious Metals IRA can start taking penalty-free distributions from the account, according to the IRS.
Question: How long does it take to rollover a Traditional IRA into a Gold IRA?
Answer: Usually around two weeks, although Goldco stresses each application is different and the amount of time varies on a case-by-case basis.
If a gold dealer would recommend investing all your capital in precious metals, the company does not have your best interest in mind. The whole idea is to diversify your assets.
A legit and professional precious metals dealer, like Goldco, would only recommend investing about 50% of your assets into precious metals.
The IRA Experts at Goldco will carefully consider your long-term investing goals and recommend the best solution for you.
Goldco has associates ready to answer any questions you may have or help you with account-related issues. The company’s normal business hours are:
|Monday to Thursday:||8:00 am to 5:00 pm|
|Friday:||7:00 am to 4:00 pm|
You can also send an email at [email protected].
Yes, I among all happy Goldco customers are agreeing on Goldco being the best Gold IRA Company.
Customer satisfaction levels show proof of Goldco being the best, if not one of the best, gold IRA companies. It is difficult to find any discontent with this company and its stellar customer service.
Starting a new account with Goldco is also an easy tax-free process which is great. The process is quick and painless and you are guided every step on the way.
IRA investors get direct access to a specialist who takes care of the entire rollover process. Non-IRA investors get assigned an account executive who makes sure you receive your precious metals on time.
With this being said, the final verdict is that if you are thinking of rolling over a retirement account to IRA-approved gold and silver coins, then Goldco should be on your call list!
|Fill in the online application and Goldco will pay your account fees for up to three years.|
Please feel free to reach out if you have any questions about this review. If you believe something is reviewed incorrectly, please let me know in the comment section below.
About The Author
Stina Pettersson is an aspiring entrepreneur who is working on achieving her goals as an online marketer.
Stina Pettersson is originally from Sweden but has resided in the U.S. for the past 7 years. She started her American journey in Miami, Florida, and recently moved to Austin, Texas.
Stina was active as a professional dancer for 21 years, but after ACL surgery in both knees, she was forced to slow down and now enjoys dancing as a hobby.
She recently went back to her roots with her beloved horses and also loves long nature walks with her two adorable dogs, Max and Abigail.
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