Goldco is still worth investing in, despite the customer complaints it faced in the past. Since the company has a corporate culture of providing excellent customer service, they respond to customer complaints quickly and resolve these through close coordination with the customers.
People should read about customer complaints because these complaints bring insights into how well a company treats its customers. How Goldco resolves its customer complaints will show if the company really values its customers or not.
Though it may be difficult to achieve, there are some companies that don’t have customer complaints. Augusta Precious Metals is one such company that can boast of having zero customer complaints. You can read our article on Augusta Precious Metal Complaints to find out how the company has achieved this feat.
Meanwhile, let’s look at Goldco’s customer journey and how they handle customer complaints.
Goldco’s Customer Complaints
There are negative reviews for Goldco, but none have been serious enough to doubt the company’s reliability. The complaints against them are typical complaints that other gold IRA companies also get from time to time.
Customers say they are dissatisfied with how Goldco representatives communicate with them. This is the most common issue customers complain about. Here are a few customer complaints and how Goldco has responded to the complaints.
Customer complaint from Business Consumer Alliance (BCA)
Customer complaint from Business Consumer Alliance (BCA)
1. Improper mode of communicating with the customer
This is actually the only complaint registered under Goldco on BCA’s website. The customer registered for Goldco’s free inflation booklet and complained about the Goldco staff’s manner of communicating with him.
From the complainant’s standpoint, he is not even sure that the caller was from Goldco because the caller ID was invalid. Here was Goldco’s response:
Goldco apologized for the negative experience, even if it was still unclear if the caller was indeed their employee. They asked for more details to settle the issue accordingly.
Customer Complaints from Trustpilot
1. Lack of desired gold coin stocks
Here is a customer that complained about an unpleasant experience with Goldco, that the company could not win back. In this case, the complaint was about the availability of gold and silver coins.
The breakdown of communication was when the Goldco representative tried to convince the customer to still purchase the silver coins available, which angered the customer because he wanted to buy both gold and silver coin variants but the gold coin variant was not available. This was how Goldco responded.
Goldco replied with a template response the day after. Despite their response though, the customer already purchased his desired gold and silver coin variants with another company and was happy with their service.
2. Lack of details on promo flyer
In this complaint, the customer wanted to avail of the free $10,000 worth of silver coins for a purchase requirement of $100,000. The flyer did not contain complete information and led the customer into opening a Goldco gold IRA but not be able to enjoy the promo.
To date, Goldco has not responded to this complaint.
These complaints should not be the only consideration in judging Goldco’s legitimacy as a trusted precious metals company. The company still gets hundreds of excellent reviews against only a handful of customer complaints.
Goldco’s Positive Customer Reviews
Goldco is praised for its highly knowledgeable staff that attends to customers with efficiency and patience in educating them on investing in precious metals. Here are some of the rave reviews customers took the time to write and post for Goldco.
Customer Review from Trustpilot
This customer review shared how the Goldco specialist handheld them all the way, on top of experiencing Goldco’s commitment to quality customer service.
Customer Review from Consumer Affairs
This customer review praised Goldco for giving a good deal and making the most out of the investment.
Customer Review from Google
This customer praised Goldco staff for fulfilling promises to make follow-up calls. The customer also did his research prior to transacting with them and was pleased that the positive information he gathered about Goldco was proven true. Goldco responded in appreciation of the praise they received, another good customer practice.
These customer reviews have shown both negative and positive perceptions of Goldco. To make a better judgment on Goldco’s suitability for your investment requirements, it is best to find out more about the company. Here is more information to get to know Goldco better.
Goldco Company Background
Goldco Precious Metals is a privately held gold IRA company based in Los Angeles, California. It was set up in 2006 by its founder and current CEO, Trevor Gerszt, a real estate practitioner who was born in South Africa but migrated to the United States with his family when he was six years old.
The company consistently gets high ratings from business rating sites and customer organizations like Better Business Bureau (BBB), Trustpilot, Trustlink, Business Consumer Alliance, Consumer Affairs, and Google. Every Goldco Review article online delivers positive feedback about the company, and complaints against Goldco on customer rating sites are very few.
Goldco can still be trusted based on customer reviews. Most of these customer reviews are glowing accounts of how customers were served well, and praise was given for the attentiveness of Goldco account managers in addressing the concerns of mostly new investors.
Goldco is a reputable company, considering all the high ratings from respected business organizations and positive customer reviews. Goldco built a solid reputation as one of the top precious metals companies in the U.S., such that it has amassed $1 billion in gold transactions, a clear testimony of customer trust in their services. The company also got the endorsements of media stalwarts Chuck Norris, Sean Hannity, Ben Stein, and Stef Peeters.
You can read our Goldco Precious Metals Review for a comprehensive look at Goldco’s history, products, and services.
Goldco’s Products and Services
Goldco makes money by providing assistance in gold IRA transactions and selling physical precious metals. The company works with all the major custodians for documentation, including Equity Trust Company, a leading partner of most gold IRA companies. With these custodians, Goldco will help investors rollover from their 401k, traditional IRA, SEP IRA, or SIMPLE IRA funds. The company’s assistance in the rollover of these accounts helps investors avoid penalties that may be incurred when funding a Goldco precious metals IRA.
There are tax penalties for transitioning from 401k or traditional IRA to gold IRA if you withdraw funds from these accounts before you are 59 ½ years old.
Goldco also partnered with the Delaware Depository to take care of storage for Goldco precious metal IRA and physical gold investments. The storage in this IRS-accredited depository complies with an IRS directive that precious metals must be stored only in authorized depositories.
These custodian and storage services incur annual fees. Goldco also charges fees for opening a gold IRA with them. You can read our article on Goldco Precious Metals Fees, for a detailed discussion ad breakdown of the gold IRA expenses.
Conclusion
To conclude, the usual issues customers complain about with Goldco revolve around misinformation and miscommunication. Although Goldco should address all complaints against them and avoid a repeat of these issues, none of the issues were grave concerns that can cause a loss of trust for Goldco. The company is still acclaimed as one of the best gold IRA companies around, enough to accumulate $1 billion worth of gold IRA investments through the years since 2006.
The company is still a worthy option for investors. But it is also good to check out other gold IRA companies to have more options. Here are some of the best gold IRA companies you can check out: