A Goldco IRA offers a way of protecting retirement savings by allowing clients to rollover their existing IRA to a gold IRA. Any kind of qualified retirement account can be used including 401(k) and 403(b). There are many positive Goldco IRA Reviews from customers, and they have an A+ BBB rating.
Goldco Pros and Cons
Let’s look at some of the pros and cons of choosing to protect your retirement funds with a gold IRA rollover.
- BBB rating of A+
- Low fees
- Goldco is highly knowledgeable about precious metals IRAs
- Free storage for precious metals that are non-IRA
- Excellent customer service
- Minimum deposit of $25,000 required for an IRA
What Exactly is a Goldco IRA?
Goldco offers a brokerage service so clients can roll over a traditional retirement account into a precious metals-funded IRA.
One reason precious metals IRAs are becoming more popular is the state the economy is currently in. Investing in a gold or silver IRA can be a helpful method of protecting your retirement savings against a declining dollar and against inflation.
This type of IRA is a great choice for diversifying your retirement portfolio and this in turn protects your total wealth whatever happens next in the economy.
Is Goldco Legit?
Is Goldco a Reputable Company?
Goldco is completely legitimate and reputable. They have many satisfied clients over the years and have won awards for their performance. The company was founded in 2006 and transfers existing accounts from 401(k)s, 403(b) or TSP (Thrift Savings Plan) into self-directed gold IRAs. Roth IRA conversions or rollovers are more possibilities for customers.
It’s very fair to say Goldco has a very solid reputation within the IRA marketplace, and they are highly trustworthy in the market for IRAs.
The goal of this company is to assist customers when learning more about gold investment and how to protect retirement assets. Goldco helps every client to navigate every step of the precious metals rollover process and then you will also be able to purchase gold or silver from them to store outside of your retirement savings account.
The BBB, or Better Business Bureau, gave Goldco an A+ rating and customer reviews gave them 4.87 out of 5 stars. The few complaints they did have were successfully resolved by Goldco. The Business Consumer Alliance gave them a AAA rating while Consumer Affairs give them 4.8 out of 5.
These reviews show that Goldco has patient and thorough specialists who are knowledgeable and responsive to questions. Google Reviews and Trust Link also give this company 4.8 out of 5.
Goldco IRA Loophole
The IRA loophole has been around since 1997 as part of that year’s Taxpayer Relief Act. It means relaxed IRS restrictions on specific kinds of investments allowed in self-directed IRAs to include physical metals, such as gold, silver, palladium, and platinum.
The IRS states that so long as the previous metals bars or coins meet the required fineness specifications and can be stored in a depository they have approved, they can go into a self-directed IRA and be help until disbursement. A lot of financial advisors never tell their customers this at any point.
Something else that makes this IRA loophole interesting is the possibility of being able to own coins which might have a scarcity premium or be collectors’ items as well as their other precious metals which are valued at nearly the same price as the precious metal itself.
Goldco IRS Loophole Guide
This free guide will teach you to break away from traditional retirement account restrictions and not miss the limited investment possibilities they offer. So it’s definitely worth taking advantage of this information.
Who is the Goldco Owner?
The Goldco Precious Metals Company Founder and CEO
The founder and CEO is called Trevor Gerszt and he initially founded the company so that Americans doing retirement planning would have additional investment options to protect their assets in the case of stock market crashes, stock market fluctuations, or economic downtown, by choosing to invest in precious metals rather than in the dollar.
Goldco, unlike some other precious metals agencies, is associated with excellent IRA specialists who strictly adhere to IRS regulations. They provide plenty of useful and information resources for customer education, and their customer service is great too.
As for Goldco fees, they’re comparatively low for both the money transfer funds and the brokerage service itself.
Goldco Precious Metals Education
Goldco Precious Metals takes pride in plenty of customer education, so you will know about the whole precious metals investing process and be able to determine whether such an investment fits your current needs. Goldco also sell or buy back precious metals when a customer starts their IRA distributions.
The whole point of a precious metals IRA is to protect your savings with a greater level of stability than the US dollar offers, considering it lost some 98% of purchasing power in the past 50 years, when it was removed from the gold standard. The purchasing power of gold has stayed much more stable than that of the US dollar.
Goldco IRA: How to Open Your Own
Once you realize what a good investment a precious metals IRA can be, you might choose to invest in one of your own. It’s really simple to open your Goldco account and there are only three steps you need to follow:
- Open your Gold IRA: The first step involves signing a purchase agreement and this serves as your agreement to do business with the company. Sign the terms and you’re one step closer to choosing which precious metals to invest in and how much.
- Fund the gold IRA: Invest in any types of assets which aren’t traditional assets, such as stocks and bonds, in a self-directed IRA. This is achieved by rolling your existing retirement account assets over, which might include a 401(k), 403(b) etc. When you transfer these over to a precious metals IRA you will be saving money as well as avoiding taxes.
- Select which Goldco precious metals IRA to get. When your funds are ready to be used, you can go ahead and purchase your gold, silver and/or other precious metals. Now it can be challenging to figure out what investment is going to be the best choice for you.
If you’re looking for gold coins or bullion, or other types of metals, you will find there is plenty of choice and it isn’t always easy to decide what to go for. Goldco helps you choose IRS-approved bullion and coins during your IRA registration process for your IRA, before coordinating with the custodian of the facility which will put your assets in their storage.
Goldco – Protecting Wealth
Protecting your wealth from runaway inflation and a depreciating dollar is a very important thing to consider in the uncertain times we’re now in. Goldco has helped many people navigate through the process of investing in precious metals as a safe-haven investment.
If you want to balance the volatility of bonds and stock markets, you might find a gold IRA to be an appealing option. Think about whether a precious metals IRA would be a good idea for your retirement savings, so you can keep something tangible in your portfolio of investments.
Thanks to 1997’s Taxpayer Relief Act, the IRS collectibles rule was adjusted, with exceptions now including specific coins and bullion to make IRA investments. Goldco knows exactly which bars and coins are good for a retirement account and their customer service department has many years of experience with the whole process of rollovers.
Goldco will help you choose IRS-approved precious metals as well as the best dispensary and custodian to look after your new assets for you.
In addition to that, the firm achieved national recognition back in 2021 when they won the Company of the Year Stevie Award at the 19th Annual American Business Awards ceremony. They have been in the shortlist 5 times in total and are one of the most rapid-growing private companies nationwide.
This precious metals brokerage firm facilitates the purchase and sale of gold and silver. Every IRA will need a custodian associated with it to manage the assets in the account. Goldco assists with any related paperwork, to make the whole process easy and smooth.
So, if you are unsure about what’s involved when rolling over your existing retirement account into a gold IRA and you have questions or concerns, don’t worry because Goldco is happy to offer as much assistance and information as you require to make the whole process seamless and get you the results you’re looking for.
Once the necessary paperwork has been completed, Goldco is happy to help you choose which IRS-approved bullion and coins you’d prefer to add to your precious metals IRA. A Goldco specialist will coordinate the purchase of your chosen assets with a custodian and then the assets will be transferred into an approved depository.
Goldco’s Educational Resources
This firm has an education center on the website which has plenty of material if you’re interested in learning about precious metals investment in depth. The aim of this education center is to keep investors ‘in the know’ about IRAs as well as precious metals investing. The detailed blog covers many topics such as (but not limited to):
- Trade wars
- The debt bubble
You can choose from a number of e-books to download, such as:
- 10 reasons why the dollar will crash
- The American IRA
- Gold IRA investment guide
Are you more of a video fan? In that case, you will like Goldco’s video playlist. Some of these videos include:
- Dollar fluctuation
- The oil crisis
- Stock market crashes
- Retirement threats
You can also see live gold, silver, palladium, and platinum price trackers, right there on the website. If you have any questions, the customer support team is only too pleased to help you.
Goldco IRA Fees
Goldco does offer reasonable fees and pricing. Their minimums might be a little higher than what some of the competition asks, but they offer transparent fees as well as the first year of fees waived for any new client. This is a closer look at the fees you can expect:
- Annual fees: $180 plus storage fees yearly
- Minimum investment: $25,000
- Bonuses: New clients don’t pay the first year’s fees and they also get 10% back in silver coins
The fees for gold storage and custodial services are dependent on whichever IRS-approved firm you pick to handle the services for you. Expect anywhere from $10 to $60 per month for storage fees or they might be a percentage of the assets stored which comes out from somewhere around 0.35% to 1% each year.
Gold IRA Products from Goldco
There is no shortage of bullion and gold-plated coins you can choose when investing with Goldco and of course they’re all IRA-approved. Goldco insists on a fineness requirement of 0.995 and, like other IRA-approved coins made from gold, they have to be that fine as a minimum.
It’s very important to ensure the right size denomination of any gold-based item which is why Goldco cultivates a very close relationship with coin mints all over the globe to make sure every coin has at least the minimum required fineness. These are some of Goldco’s offerings:
Gold American Eagle Proof
This is a physical gold bullion coin which has been around since 1986. It’s minted from a troy ounce of .9999 pure gold and has a Statue of Liberty image on the front and an eagle with its wings spread on the front. The coin, which has a legal tender value of $50 in the United States, has a face value of $50.
Gold American Eagle 1
Made from 22 karat gold, the 2021 Gold American Eagle can be described as the US’s gold standard. The coins have been minted since 1986 and you can get them in four different sizes – tenth ounce, quarter ounce, half ounce, and full ounce.
Gold American Eagle 2
This bullion item is made with 1 troy ounce of gold, and it’s minted in the US Mint with a purity of 99.9%. Considered legal tender in the US, this coin is believed to be one of the costliest gold coins on the planet.
Silver American Gold Eagle
An honor to the bald eagle, you will see this all-American symbol on this silver coin which is created from Perth Mint using 2 ounces of 0.999 pure silver. The face value is $2 TVD and the coin weighs 62.213 grams.
Gold Liberty Coin
On the back of this coin, you can see the 270th anniversary of the Liberty Bell from Philadelphia, while the front shows a portrait of Queen Elizabeth by Ian Rank-Broadley. You can get a ¼-ounce gold version of the gold liberty coin.
Gold British Lunar Series
These gold coins, termed the Shengxiao Collection or Lunar Series, have been pressed by the Royal Mint since 2014. They are created with 0.9999 pure gold and every year’s coin shows one of the 12 animals in the Chinese astrology zodiac that is based on the traditional Chinese calendar.
Gold Lucky Dragon
These 0.999 pure gold coins are struck from ¼-ounce of gold at the Royal Canadian Mint. Good fortune and prestige are associated with dragons, as are strength and power.
Gold Freedom Coin
These 99.9% gold coins are available in 1/10, 1/25, 1/50, and 1/100 of an ounce in size. You can use them as a legal form of currency in the United States. Their purity of 0.9999 makes them legal for investing. Gold Freedom Coins can support the liberty and freedom of the country and are also an excellent choice for precious metals investing.
Gold Australian Striped Marlin
This coin was minted by The Perth Mint in 2020. It’s 14 ounces of 99.9% purity gold and works as legal tender. A marlin is the symbol of dedication, perseverance, and tenacity.
Bars in Gold and Silver
These are a great choice if you really want to invest in precious metals. You can get the bars in different metals as well as in different sizes, to suit your needs. Ensure you research the product you are considering well enough and ask Goldco for their expert advice if you have any questions about what you want to invest in.
Goldco also offers products in silver and gold which include non-IRA-eligible as well as IRA-eligible silver and gold for your consideration.
Silver coins are another option, and you can get 2 kinds of Silver American Eagles, minted from an ounce of pure silver. Goldco also offers silver coins from mints in Australia, New Zealand, the UK, and Canada.
Since they are backed by physical assets, silver bars make a wise investment. What this means is the value of this precious metal is very unlikely to decrease over time, meaning it won’t lose its value. A Goldco IRA-eligible silver bar is 0.9999 fine.
Is Goldco a Good Choice for You as an Investor?
Goldco is an excellent choice for various kinds of investors including the following:
- Those wanting to own physical investment. Precious metals are going to be around forever, unlike companies who could go bankrupt any day. If you want something tangible in your savings portfolio, precious metals are a very sensible choice.
- Those wishing to protect their wealth during stock market fluctuations. If you don’t like the sound of the rapid volatility in the stock market, you might prefer to choose precious metals instead since they can minimize your risk. Precious metals typically move in the opposite directions to more traditional securities, so if the market should tank, your gold and silver should hold its initial value until things begin to swing up again. Many investors find this incredibly reassuring.
- Anyone nearing retirement and dreading the possibility of another financial crisis. What about if a financial crisis hits such as what occurred back in 2008 – would you still be able to retire comfortably? Whether you are approaching retirement or already retired, you will find gold and silver can add stability right when you need it.
Goldco Buyback Program
If you decide to sell your gold, silver, and other precious metals, Goldco will buy them back from you. You are likely to get a higher price than what you could expect from a lowballing random coin dealer. You don’t have to sell your gold back to Goldco, although most people do since you are likely to get a better deal and they will make the whole process easy.
Goldco Precious Metal IRA FAQs
Q: How do I sell some of the precious metals in my IRA?
A: Goldco will buy them back from you for competitive prices or help you sell them on the precious metals market if you prefer.
Q: Can I keep my gold and silver at my house instead of a depository?
A: The IRA forbids keeping IRA precious metals at home, even if you have a huge safe or security box. The storage facility has to restrict access and keep all customer’s precious metals separate. This means you can be sure the metals you bought are the same ones returned to you and this meets legal distribution requirements.
Q: Does Goldco guarantee the values of the precious metals?
A: It’s not possible to guarantee the future value of precious metals, just like with other investments, and the value can rise or fall according to a variety of market influences.
Q: When may I take distributions from my precious metals IRA?
A: Either you or the beneficiary of your account can begin to take penalty-free distributions as long from the age of 59.5.
Q: What’s the timescale for rolling over a traditional IRA into a precious metals one?
A: You can expect about 2 weeks for completion of an IRA rollover from a traditional account into a precious metals one. Every application is different though so you might find yours takes either less or more than 2 weeks to finalize.
The most popular precious metals IRAs are gold and silver and, in case of some economic shock, the prices of both might jump. Gold and silver are the best metals for a precious metals IRA since you can sell them immediately should the need ever arise.
Goldco helps investors with important financial decisions while educating them on the rules about gold investing. With many years of experience and a top-notch customer service team, you can count on Goldco for all your gold IRA needs.
The company has had an excellent accomplishment record spanning more than 15 years with many great customer reviews. By setting up an IRA with Goldco, you will be able to convert some or all your current retirement wealth into precious metals. Visit Goldco below to get your free gold investing kit:
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