Goldco Precious Metals fees are:
More than just exploring the precious metals IRA fees, new investors should look at the services offered, the promos or special deals IRA companies give their customers. This is to ensure investors can make the most out of their investments.
If you are on the lookout for more precious metals IRA companies to explore, Augusta Precious Metals is another reputable company. You can check our Augusta Precious Metal Review to find out more.
Meanwhile, read on about Goldco’s fees and information that will equip you to make sound decisions about investing your hard-earned money. If you want a more comprehensive article on Goldco, you can also read our Goldco Review
Goldco’s Fees
Goldco Precious Metal’s fees cover the standard fee charges for opening a gold IRA. They also require a minimum investment of $25,000 to start a precious metals IRA.
Segregated storage fees are usually for customers who want the storage of their precious metals in a separate vault. Some of these customers do so because of their gold coin collections.
Goldco has special offers for its new gold IRA account holders. For new investors opening an account with $50,000 and above, Goldco waives its fees for the first year. The company also offers up to $10,000 worth of silver coins free for a qualifying purchase.
GOLD IRA FEES |  |  |  |  |  |
|---|---|---|---|---|---|
Setup fee | $50 |
| $50 | $80 | $50 |
Wire Transfer Fee | $30 |
| $30 |
| $30 |
Custodian Fee | $75-$300 | Part of Annual Fees | $80 | Depends on investment | Part of Annual Fees |
Annual Fees | $180-$230 | $280 (waived the first year) | $100 | $150 | $180–$230 (waived for $50k-up investments) |
Minimum Investment | $25,000 |
| $50,000 | $20,000 | $10,000 |
Setup fee: $50
Wire Transfer Fee: $30
Custodian Fee: $75-$300
Annual Fees: $180-$230
Minimum Investment: $25,000
Setup fee:
Wire Transfer Fee:
Custodian Fee: Part of Annual Fees
Annual Fees: $280 (waived the first year)
Minimum Investment:
Setup fee: $50
Wire Transfer Fee: $30
Custodian Fee: $80
Annual Fees: $100
Minimum Investment: $50,000
Setup fee: $80
Wire Transfer Fee:
Custodian Fee: Depends on investment
Annual Fees: $150
Minimum Investment: $20,000
Setup fee: $50
Wire Transfer Fee: $30
Custodian Fee: Part of Annual Fees
Annual Fees: $180–$230 (waived for $50k-up investments)
Minimum Investment: $10,000
Based on this Goldco review, Goldco’s fees are charging just what is considered the industry standard and impose a mid-range minimum investment. They have lower annual fees than American Hartford Gold but Noble Gold and Augusta Precious Metals' annual fees are lower. American Hartford Gold has the highest annual fees but does not require any minimum investment and does not charge any setup fees. Birch Gold Group requires the lowest minimum investment but charges the same as Goldco for annual fees.
Investing in a Gold IRA With Goldco
Now that you have seen Goldco’s fees, here is a step-by-step process to get started with opening a gold IRA.
Sign an agreement with Goldco to open your gold IRA
Secure your purchase and understand Goldco’s terms by signing an agreement with them. A company representative will guide you through the entire process and can answer any of your questions in case you need to clarify anything.
Fund your precious metals IRA
The best option is to roll over funds from your existing traditional or Roth IRA, 401k, and savings accounts to avoid any tax penalties. There is no limit to the amount you want to roll over when opening your gold IRA account,t but for succeeding years, your contribution will be limited to $6,000 annually if you’re below age 50, or $7,000 if over age 50.
Choose your precious metals
You can choose your precious metals once you’ve funded your gold IRA transaction already. Be sure that the coins or bars you choose are IRS-accredited for IRA transactions.
Part of this 3-step procedure is the selection of a custodian that will handle the documentation of your precious metals IRA. Goldco works well with all the major custodians in the United States, so this wouldn’t pose much of a problem for new investors.
Storing of physical gold is not allowed outside of IRS-accredited depositories, so this too is something Goldco can help you with. Goldco is in partnership with the Delaware Depository, one of gold IRA companies' most widely used depositories.
The time involved in opening a Goldco gold IRA depends on how fast your custodian will work in handling the documentation for your precious metal IRA. If all documentation is facilitated, finishing a gold IRA transaction without the actual delivery of the precious metals can take as fast as just a day to finish. The mode of payment is also a factor. Opting for a rollover is the faster way, as this will not involve waiting time for a check to reach you.
Diversifying Your Investment Portfolio
Financial experts recommend 5-10% of your investments can be a good start for a Goldco precious metals IRA transaction. Gold IRAs are a good hedge against inflation and a means to diversify an investment portfolio. However, unseasoned investors should tread carefully with investing in gold and should get expert advice on when to buy gold.
Goldco Precious Metals is a reputable firm founded by its current CEO, Trevor Gerszt. With Gerszt’s dedication to empowering investors with financial educational tools and knowledgeable account managers, each Goldco Review available online provides praise for the company.
Since its launch in 2006, the company garnered multiple stellar customer ratings resulting from its impeccable customer service and knowledgeable account managers. Here are a few of their high ratings from business websites and customer reviews:
Triple A rating from Business Consumer Alliance
A+ rating from Better Business Bureau (BBB)
5 Stars from Trustlink
4.8/5 rating from Consumer Affairs
4.8/5 rating from Trustpilot
4.9/5 rating from Google
2021 “Stevie Award for Company of the Year”
The company also enjoys the distinction of being the only gold IRA company endorsed by media personalities Chuck Norris, Sean Hannity, Ben Stein, and Stef Peters.
Despite these high ratings and citations as “Best Gold IRA Company” for 2023 by Investopedia, Goldco still gets its share of complaints, though they are few. The complaints were mostly about information not relayed in time before clients invested.
Getting Educated Before Making an Investment
Tools for Goldco Investors
Goldco has several educational tools available for investors wanting to invest in a precious metal IRA. These educational tools stand out as one of the best customer perks among Goldco services. Their website contains many articles that provide gems of information for both new and seasoned investors. Some of the interesting articles cover these topics:
A Beginner’s Guide to Gold IRAs
Everything you need to know about investing in a gold or silver IRA is here; why you should invest in gold, the advantages of a gold IRA, how to invest in gold for retirement, and other relevant information new investors need to know before investing, can be found here.
IRA Basics for Every Investor
This informative piece talks about the different types of IRA, some of which are not commonly discussed in other articles. Simple Employee Pension or SEP IRA, which is like a traditional IRA but serves as an option for small business owners with just a few employees to provide retirement benefits. There’s also the SIMPLE IRA (Savings Incentive Match Plan for Employees) which is a cheaper retirement option for small businesses with less than 100 employees.
The Goldco Free Kit
Goldco offers a free kit for investing in a gold or silver IRA that is delivered for free. This physical kit offers a steady source of information at investors’ fingertips whenever they need it. The kit includes audio, printed material, and visual guides to make protecting wealth easier to understand.
Going over these educational tools will help avoid any misunderstandings pertaining to your Goldco IRA. If you want a quick read on gold IRA without going through too many materials, you can read our article on How Does Gold IRA Work.
Conclusion
A Goldco gold IRA will entail a bit of cost but your investment is safely handled by a reputable gold IRA company that will guide you through your investment decisions. Whether it’s a gold or silver IRA, or a physical precious metal transaction, a Goldco offer of investment advice from their able account managers will help diversify your investment portfolio and help manage your finances well.