Goldco Precious Metals is a precious metals IRA company located in Los Angeles, California. The company has been hailed as one of the best Gold IRA companies in the United States. Yet being the best does not exempt the company from having its own set of pros and cons.
Here are the pros of using Goldco as your precious metal provider for your IRA:
Here are the cons of the use of Goldco as your precious metals provider for your IRA.
Minimum investment is higher than what other precious metals IRA companies require.
No fees or pricing shown on the website
Website lacks information about the company.
This article will give you a better understanding of these pros and cons and will help even when you move on to the next gold IRA company to consider in comparison with Goldco.
Augusta Precious Metals is one worthy company to compare against Goldco. Like Goldco, Augusta Precious Metal has been cited as one of the best gold IRA companies in recent years, and can boast of no customer complaints filed against it. Read our Augusta Precious Metal Review to find out more about the company
Goldco Pros and Cons
1. Excellent reviews on business rating sites.
Goldco harvested a lot of glowing reviews from business rating sites. It garnered:
- 5 stars from Trustlink
- 4.8/5 rating from Consumer Affairs
- 4.9 rating from Google
- 4.8/5 rating from Trustpilot
- A+ ratings from Better Business Bureau (BBB)
- AAA rating from Business Consumer Alliance
- 5-time inclusion in Inc. 5000’s “Fasted Growing Companies in the Country” list
These reviews were given as a testimony to Goldco’s excellent service and trustworthiness. Every Goldco review online also gives positive comments about the company. You can read more about the company in our Goldco review to get a complete picture of the company's reputation and achievements.
2. Abundant educational resources online.
One of Goldco’s best features is its educational materials about handling money and investments. Goldco’s website includes a News and Articles section that contains a wealth of information about Goldco updates, retirement planning, social security, investing, and other financial news. These articles impart a lot of insightful information useful for investors.
Goldco also offers a free kit on protecting wealth, which contains audio lessons, videos, and printed material delivered to your doorstep for free. You can request a copy of this kit on their online form.
3. Years of experience handling gold IRAs.
Goldco has more than a decade of experience handling precious metal IRA transactions. Throughout these years, they have built good relationships with major custodians and the Delaware Depository, to cater to the needs of Goldco gold IRA investors. The company’s reliability is clear with their latest milestone of achieving $1 billion in precious metals placements.
With Goldco, you can choose any custodian but only Delaware Depository to store your precious metals.
4. Impeccable customer service.
In all customer reviews, Goldco was praised repeatedly for their sterling customer service. Customers praise the staff for making good on their promises to make follow-up calls, for explaining patiently and clearly about investing, and for ensuring a stress-free process of their gold IRA transaction.
Also, you can see how your precious metal investments are performing on the Goldco website through their update on daily gold prices.
5. Buyback program.
Goldco’s buyback program guarantee offers the highest prices for your gold coin and bar purchases, so long as these were also purchased from Goldco.
6. Prominent brand ambassadors.
Sean Hannity leads the pack of brand ambassadors endorsing Goldco. Sean Hannity said he did his research on Goldco and was happy that the company is “the best at what they do.”
Trevor Gerszt, Goldco’s founder and CEO, says, “Our goal is to make precious metals ownership a reality for all Americans who seek financial independence and security. I am ecstatic that Mr. Hannity fosters those same beliefs and entrusts Goldco to deliver the highest standards in customer service, precious metals delivery, and the highest price buyback guarantee for customers.”
Goldo’s other brand ambassadors are Chuck Norris, Stef Peeters and Ben Stein.
You can read our Who Owns Goldco article to find out more about Trevor Gerszt and how his influence led to Goldco’s good reputation, such that it led to highly visible and respected brand ambassadors.
1. Offers only Gold and silver.
The types of precious metals Goldco offers are gold and silver only. Although they included platinum and palladium as one of the possible forms of distribution in their FAQs, their website does not show these precious metals as part of their available items
2. Minimum investment is higher than what other precious metals IRA companies require.
The minimum investment required for a Goldco gold IRA is $25,000. This requirement is the same whether you are investing on a gold or silver IRA. This is high compared to other gold IRA companies’ required minimum investment. American Hartford Gold does not even require a minimum investment.
3. No fees or pricing shown on the website.
Goldco’s website may be full of useful information on finance but there is no information provided about fees for a Goldco IRA. Interested investors will have to look elsewhere to know more about their start-up and annual fees. New investors might be misled into thinking no fees are required for a Goldco precious metal IRA. They also do not have any pricing information on their physical gold or silver coin choices.
4. Website lacks information about the company.
Some investors like to find out about a precious metals IRA company’s background, its leadership, and how it started before they invest. Goldco’s website does not contain any information on how it started, who founded it, and who leads the company now. Information like this can give clarity on whether or not a company is reputable, and will help investors’ decision to work with them easier.
Investing with Goldco
1. Is a Goldco gold IRA a safe investment?
A Goldco gold IRA is a safe investment, in the sense that Goldco is a reputable company that employs knowledgeable account handlers who can guide you with your investment. Once you’ve decided to invest in a Goldco precious metals IRA, you may have questions about how to proceed. Here are a few questions and the answers to help make your investment easier.
2. Should my precious metals be bars or can they be coins?
Your precious metals can be bars or coins, depending on your investment plans. Gold coins are more collectible than gold bars and are thus easier to sell. They come with capital gains tax benefits too. Gold coins are best for new investors who want to make the most out of their investments.
Gold bars are best for longer periods and larger investments and for those who want to avoid higher premiums. Gold bars take up less space for your investment and can thus save on storage costs.
3. Are the precious metals I buy for my Goldco IRA guaranteed in value?
The precious metals you buy for your Goldco IRA are not guaranteed in value, similar to other investments. Whether you’re investing in a traditional IRA, Roth IRA, SEP IRA or a SIMPLE IRA, all these do not carry with them a guarantee that your investment will make money. However, a gold or silver IRA is still a good hedge against inflation and is an excellent alternative to diversify your investment portfolio.
Investing with Goldco
Goldco measures up well in comparison with other gold IRA companies. Every Goldco review online vouches for the company’s excellence in service and reliability. Their pros outweigh the cons but still need to improve their website as a source of information about their company, fees, and pricing.
Goldco has an edge over IRA companies. It is the only company endorsed by Sean Hannity, Chuck Norris, Ben Stein, and Stef Peeters. Its unrivaled Goldco kit is one of the best sources of investment information. The company’s website contains a News and Articles section that contains abundant education resources on finance and investments,
Goldco has also been a constant presence in the “Best Gold IRA Company” lists of business rating companies online. It has been on this list along with these other reputable precious metals IRA companies:
- Advantage Gold
- Birch Gold Group
- Augusta Precious Metal
- Noble Gold Investments
- Oxford Gold Group
- American Hartford Gold