Goldco Review: Our Top Rated Gold IRA Company For 2021
FTC DISCLOSURE: GOLDINVESTMENTCOMPANIES.COM IS AN AFFILIATED PARTNER FOR GOLDCO PRECIOUS METALS, AUGUSTA PRECIOUS METALS, AND BIRCH GOLD GROUP, PROMOTING THEIR GOLD IRA, GOLD 401K TRANSFER AND BITCOIN IRA SERVICES AND PRODUCTS.
What Exactly Is Goldco Precious Metals?
In our Goldco Review we discuss what is Goldco, and why should you care about converting your traditional retirement account into a gold or silver IRA? To start with, Goldco is a precious metals IRA company that assists with brokerage for precious metals IRAs, such as gold and silver.
Nuview Trust state that ‘investing in precious metals…offer[s] stability during volatile economic times’. This video can teach you more about precious metals trading as a whole. But let’s dive straight into what makes Goldco different from other gold IRA companies.
Learning More About Goldco – Trustworthy Gold Investment?
Goldco is currently based in Woodland Hills, California. They are proud to offer a ‘white glove service’ made possible by their expert knowledge and advice. This leads to an efficient and often seamless experience for the customer, as they are guided well from start to finish.
Business Insider found that ‘many financial experts recommend keeping 5% to 10% of a portfolio in gold’, leading Goldco to be an excellent brokerage company for those looking to diversify their portfolios. But choosing the correct precious metals IRA company is essential.
The History Of Gold Investment – Looking Back At The Past
The main area of precious metals history that we’re interested in is the Taxpayer Relief Act of 1997. This act meant that precious metals could be seen as investments rather than collectibles, under a specific set of circumstances which we’ll look at now.
In Section 304 under Title III—Savings and Investments Incentives and then Subtitle A—Retirement Savings, ‘certain coins and bullion’ are exempt from being seen as collectibles. These include:
- Gold coins;
- Silver coins;
- Platinum coins;
- And gold, silver, or platinum bullion.
This historic tax relief act allows gold investment companies such as Goldco to operate and provide customers with the choices for investment that they have today. This act became effective on the taxable years following 31st December 1997.
More About Precious Metals IRAs – Why Are They A Good Choice?
While all investments come with some form of risk, precious metals are a non-volatile form of investment. Investopedia describes them as having ‘intrinsic value’ and ‘no credit risk’ and note that they ‘cannot be inflated’ as you ‘can’t print more of them’.
For those who are disillusioned with how volatile both the stock market and bonds market appear to be, precious metals could be a clever choice. They also provide something physical and ‘real’, rather than numbers and percentages hanging in the air, which appeals to some.
The Services Goldco Provide – What Will You Experience?
It is important to note that Goldco does not provide either the service of a custodian or that of a storage service. But they do work with their customers to set up these services with their connected vendors, who are experienced and effective in their respective areas.
They will also buy and sell the gold and silver for a customer when they decide to begin distributing their IRA. Goldco works within the rules set out by the IRS and always aims to provide a quality customer experience, settling and solving concerns or issues quickly.
Goldco’s Market Recognition – What Everyone Is Saying About Goldco
You’re a smart investor. You can’t just take one source’s word as the absolute truth, and you’re right to do so. But Goldco has been recognized as an outstanding gold investment company time and time again. Let’s elaborate on some of those prestigious awards.
Goldco has been an accredited business with the Better Business Bureau since 2011 and currently holds both an A+ rating from BBB and a 4.93/5 star rating from customers. They have also been with the Business Consumer Alliance since 2012 and holds a triple-A rating.
Listen To Goldco Customers – Reviews Reveal Quality Experiences
Another source to take advantage of is the words of Goldco customers. With Goldco’s focus on expert customer service, it can be expected that many of these reviews are positive—just remember the 4.93/5-star rating on BBB as a prime example of customers loving Goldco.
One review on BCA claimed the customer would ‘highly recommend’ Goldco, giving it a five-star rating and stating the concept was ‘really explained’ to them and that they felt ‘super comfortable’ with the transaction. Reviews on BBB largely echoed this sentiment.
Listen To Goldco Customers – Issues And Explanations
However, not everyone was completely satisfied by Goldco. On BBB, four customers have come forward and published their complaints about Goldco, one being advertising/sales related while three others focused on problems with a product or service.
All of these complaints have been answered, proving Goldco’s dedication to excellent customer service, and the majority have been resolved. Issues were raised about frequent calls without caller ID and misunderstandings around the value or nature of gold investment.
Why Should You Choose Goldco? – Keeping The Customer In Mind
The reasons why Goldco comes out as a strong contender in the world of gold IRA companies can be put into two categories: investment and customer service. Of course, relatively low fees (more on those later!) and reliable transactions are a must.
But customer service is where Goldco shines. Not all that glitters is gold, but Goldco’s service standards clearly are—which is important when Microsoft has found that 96% of consumers say customer service is an important factor in their choice of loyalty to a brand.
How Goldco Goes Above And Beyond – Attention To Every Detail
According to research by PWC, 82% of U.S. consumers still want to interact with a real person for transactions as technology moves forwards. But what do humans have that machines can’t accurately imitate? High-quality service and attention to human details.
Goldco prides itself on the outstanding attention to detail that their Account Executives and other administrative staff employ throughout every transaction. Goldco’s prompt and professional customer service and immediate issue resolution simply can’t be matched.
The Premium Goldco Experience – A World Of Extras
When looking at different precious metals IRA companies and wondering which to choose, you may find it tricky to separate the good from the excellent. Anyone can weed out the companies that are just not worth your time, but what about the finer details?
One of those details is Goldco’s dedication to the customer experience. They provide free storage for non-IRA transactions, putting the customer first. They also don’t require any fees for non-IRA transactions—speaking of fees, why don’t we take a look at their rates now?
Investment Rates For Goldco – Taking A Close Look At The Numbers
We both know that you don’t want to be spending a fortune on transferring your retirement accounts to a precious metals IRA. So, why not put your faith in Goldco? You can still enjoy your retirement with vacations and golfing while making a non-volatile investment.
- Non-IRA transactions: no fees.
- IRA transactions: fees can be as low as $260 per year.
- Non-IRA transactions: $3,500.
- IRA transactions: $20,000 to $25,000, can be flexible to customer’s needs.
Goldco’s Gold, And Other Precious Metals – What They Offer
So, what exactly are you receiving for these fees and investments? Alongside the expert knowledge of the Goldco representatives, you’ll be guided through opening an account and choosing the metals you’d like to invest in. Then, there are delivery or storage options.
There is also the opportunity to invest in cryptocurrencies and place these in an IRA, although this is not directly with Goldco. Instead, this is managed by a sister company. More information may be available to customers of Goldco while talking to their friendly reps.
Goldco’s Gold, And Other Precious Metals – The Gold
Let’s take a look at gold. You can’t have just any gold in an IRA—for example, commemorative gold coins and gold that you already own isn’t available for investment. But Goldco can advise you on investing in the correct gold, preferably in coin form.
- Has a fineness of .999;
- Or: 99.9% purity;
- Should be held by a custodian in a secure depository;
- Is not numismatic or graded.
Goldco offers customers a wide variety of gold coins, from 1 ounce Gold American Eagles to ¼ ounce Gold Lucky Dragons. Zacks has an in-depth article covering the regulations and tax implications of a precious metals IRA.
Goldco’s Gold, And Other Precious Metals – The Silver
Contrary to the company’s shortened name, Goldco doesn’t just offer gold investment. In fact, its full name is Goldco Precious Metals. Thus, it should come as no surprise that Goldco offers investment in other precious metals, such as silver. This is also preferably in coin form.
- Has a fineness of .999;
- Or: 99.9% purity;
- Should be held by a custodian in a secure depository;
- Is not numismatic or graded.
Goldco also offers many different silver coins, such as the 2 ounce World War I Silver Coin and the 1 ounce Silver American Eagle. It is important to notice the ‘privy’ marks on the edges of the coins—counterfeit coins that have been circulated recently don’t have these.
A Full List Of The IRA-Friendly Precious Metals Investment Options By Goldco
- 1 oz American Eagle Gold Coin
- 1 oz American Eagle Proof Gold Coin
- ¼ oz American Bald Eagle Gold Coin
- 1 oz Buffalo Gold Coin
- 1 oz Maple Leaf Gold Coin
- ¼ oz Lucky Dragon Gold Coin
- ¼ oz Australian Saltwater Crocodile Gold Coin
- Royal Mint Gold Lunar Series Coins
- Gold Bars
- 1 oz American Eagle Silver Coin
- 1 oz American Eagle Silver Coin Proof
- 1 oz Canadian Maple Leaf Silver Coin
- ½ oz Australian Saltwater Crocodile Silver Coin
- 1 oz Lucky Dragon Silver Coin
- 2 oz World War I Silver Coin
- 2 oz World War II Victory Silver Coin
- 2 oz American Bald Eagle Silver Coin
- Royal Mint Silver Britannia Lunar Series Coins
- Silver Bars
This wide range of options for precious metals investment is commendable and offers a lot of choices to any potential investors and customers.
Where Does Goldco Keep Their Gold? – Secure Storage Options
It seems like a strange question, but it’s actually an important factor to consider: where will your precious metals be kept? Goldco primarily uses Delaware Depository Service Company but also utilizes Brink’s, Salt Lake City, and the International Depository Services, Texas.
These companies keep the precious metals in state-of-the-art vaults. In order to keep their customer’s investments safe, Goldco has strategically connected with the best storage providers in the industry. Clearly, Goldco’s precious metals investments are in safe hands.
Who Does Goldco Use As A Custodian? – Beneficial Partnerships
As mentioned before, Goldco doesn’t act as a custodian or a storage service. However, they do have beneficial links with companies who offer these services, such as the company they currently use as a custodian: Equity Trust Company for Precious Metals Accounts.
Goldco carefully chooses the companies they use, and Equity Trust Company is no exception. They have a 4.2/5 Trustpilot rating from nearly 500 customer reviews, with 78% of reviews being five-star or ‘excellent’ and a further 9% being four-star or ‘great’.
What If I Decide To Liquidate? – How Goldco Handles Buyback
You’re not required to sell your precious metals back to Goldco if you don’t want to. This could be for a variety of reasons, such as finding an enthusiastic buyer elsewhere. Allowing their customers to have this freedom is another factor that sets Goldco apart from others.
But Goldco will ask to have the first opportunity to buy back precious metals from the customer. Part of this is simply to give the customer a chance to get a fair price, as, during liquidation, some coin brokers may try to low-ball them with disappointing offers.
A List Of The Services That Goldco Offers – IRAs To Planning Advice
- Gold IRA
- Silver IRA
- 401(k) Rollover
- Traditional IRA Planning
- Roth IRA Planning
- SEP IRA Planning
- Simple IRA Planning
As is clearly shown here, Goldco’s focus on educating and guiding the customer through the entire IRA process is admirable. Their attention to detail surrounding customer service could be said to be second-to-none, especially within their industry.
Gold Investment Companies Final Thoughts On This Goldco Review – Goldyes or Goldno?
Looking at all of the evidence, it’s going to have to be a Goldyes for Goldco from us and Goldco is named our top rated gold IRA company for 2021. There are lots of different companies out there who can assist with and advise on the precious metals investment process, but Goldco is evidently a step above the competition.
With regards to customer service, Goldco goes above and beyond to deliver efficient, friendly, and knowledgeable service to each and every customer. This is reflected in countless customer reviews. Furthermore, they have an impressive range of coins and bullion.
Considering their advances forwards, with a sister company looking to move into the Bitcoin investing field, there’s never been a better time to look into Goldco. So why not browse through their website by clicking here today!