Goldco Review [2024] Fees, Reviews, Precious Metals

The first gold coins were created around 550 BC. Almost 2,500 years later, gold and silver are still a good investment.

You might have considered turning some of your savings into precious metals. I know it sounds complicated. But it’s surprisingly easy, thanks to companies like Goldco. 

In this Goldco review, I’ll describe all that the company offers – from precious metal IRAs to the purchase of gold and silver coins. I’ll also show you reviews where people rave about Goldco’s customer service. 

Want gold and silver – not stress and headaches? Then read on!

What is Goldco?

Goldco is an American company that helps people invest their savings in gold and silver. 

There are two ways to invest with Goldco:

1. A Precious Metals Individual Retirement Account (IRA)
2. Simply buying gold and silver (including bullion, coins, and bars)

With either strategy, you’ll be converting your savings into an asset that’s considered stable. 

Along with gold and silver, Goldco offers something just as valuable: information. The company’s website is full of helpful articles, and you can request an informational kit. So, if you’re new to the idea of investing in precious metals, Goldco can help you get up to speed. 

How Does Goldco Work?

The basic idea with Goldco is pretty straightforward: You convert your savings into gold and silver for the sake of greater stability. 

Your first step as a potential Goldco client is to decide whether you want to invest in a Precious Metals IRA or simply buy gold and silver.

If you already have an IRA or 401(k), you can roll it over or transfer funds into a Precious Metals IRA. You can also start a Precious Metals IRA from scratch, but you’ll need at least $25,000 ready to invest. 

Don’t worry too much about the complexities of the process. Whether you’re rolling over an existing IRA or starting a new one, Goldco representatives will walk you through it.

Here are the three steps for getting a Precious Metals IRA with Goldco:

1. Open your IRA. A Goldco representative will make it easy for you. Reach out by calling 855-450-1394 or starting a live chat on the official Goldco website. 
2. Fund your IRA. You can roll over or transfer funds from existing retirement accounts without paying extra taxes.
3. Buy precious metals. Since this is a self-directed IRA, you’ll choose which metals you want to invest in. The metals themselves will be stored in a depository. You’ll be eligible for distributions at the age of 59 ½, and you can choose to receive cash payments or the precious metals themselves. 

What if you’d rather buy individual pieces of gold and silver than set up an IRA? Don’t worry! With Goldco, you can do that, too.

Here’s how to complete a direct purchase of gold or silver through Goldco:

1. Sign the customer agreement. This is just to make sure everyone understands the deal.
2. Fund your account. You can send a check or wire funds. 
3. Buy specific precious metals. Goldco can send the metals directly to your home, or you can choose to have them sent to an independent depository.

There’s an exciting promo that Goldco is currently offering. If you invest $50,000 or more, you’ll get 5% in the form of free silver. And if you invest $100,000 or more, that amount of free silver goes up to 10%. 

I know that converting your savings into gold and silver could seem like a big step. Goldco knows that, too! That’s why they don’t ask you to make such a big decision without conducting plenty of research. In fact, they go above and beyond to provide potential clients with information. 

You should start your Goldco experience by reading the company’s “Essential Guide to Financial Security.” To get your copy, head to the official Goldco website and click “Request My Free Kit.” 

For even more amazing opportunities, check out this guide to earning free money.

Goldco Fees

There are some fees involved with a Goldco Precious Metals IRA, but they’re relatively low and super simple. 

If you get a Precious Metals IRA from Goldco, here’s what you can expect to pay:

• A one-time setup fee of $50. 
• An annual account administration fee of $80 per year.
• An annual storage fee. For a Gold IRA, this is $100 – $150 per year ($100 for non-segregated storage, meaning your metals are pooled with the metals of other people, and $150 for segregated storage, meaning your metals are kept apart from everyone else’s).

Is Goldco Legit?

Goldco is definitely a legit company for investing in gold and silver.

But don’t just take my word for it! Check out the evidence:

• Goldco is accredited by the Better Business Bureau (BBB) and gets an A+ grade.
• Customers on the review site Trustpilot give Goldco an “excellent” average rating of 4.7 stars.
• Goldco has traded over $2 billion in gold and silver over the years.

Is Goldco Safe?

Goldco is a legitimate company, so you don’t have to worry about them ripping you off. But there’s another question worth asking: Is converting your savings into gold and silver a safe investment?

Gold and silver have generally been stable assets. Yes, their value will rise and dip – but both are worth more now than they were 10 years ago.

Goldco also has a generous buy-back program. So, if you decide you want to bail on your gold and silver, you can sell it back to the company. As an investor, this gives you a safety net. You won’t have to worry about getting stuck with assets you don’t want anymore.

Buying precious metals is often a good idea. That said, you shouldn’t put all your money into gold and silver. Goldco itself suggests putting no more than 50% of your savings into a Precious Metals IRA.

With investing, diversification is always a smart strategy. To minimize risk, try spreading your money around. 

For more ideas about where to spread your savings, check out this article on the best alternative investments.

And if you’re interested in wine and spirits as an alternative investment, check out our Vint vs Vinovest comparison.

Pros and Cons of Goldco

What’s great about Goldco? And what falls short? This next part of my Goldco review will lay it out for you. 

Pros

• There’s a buy-back guarantee. That means you can unload your precious metals whenever you want.
• The fees are simple and reasonable. With a Goldco Precious Metals IRA, you’ll pay a one-time $50 setup fee, an annual $80 administration fee, and an annual storage fee ($100 – $150 for a Gold IRA).
• They provide tons of information about investing in precious metals. The Goldco website is full of helpful articles. You can also request a “Wealth Protection Kit” with advice for your retirement savings.

Cons 

• There’s a $25,000 minimum to open an IRA. You can invest less by simply purchasing precious metals without an IRA, but you’ll lose the tax-related advantages. 
• Not all accounts qualify for free storage. If you buy metals directly and you don’t want to keep them at home, you might have to pay to store them at an independent depository.
• The website only features precious metals in the form of coins. If you’re interested in buying gold or silver in a different form, you’ll need to ask Goldco what’s available. 

Goldco Reviews /  Goldco Precious Metals Reviews

Goldco has an impressive online reputation, earning 4.7 stars from users on Trustpilot. But what do people like about the company? And what complaints do they sometimes make? Let’s look at some specific reviews to find out.

In a 5-star Goldco review, someone said everyone at the company was “so professional and incredibly helpful.” 

Another customer said, “Every person I have been in contact with was incredibly responsive, knowledgeable, understanding, and patient with me.” 

Of course, every company has at least a few disgruntled customers – even a company as popular as Goldco.

I found a 3-star Goldco review where someone complained that the price they were given for silver was “not at fair market value.”

Someone else left a 1-star Goldco review complaining that their account representative was pushy – and then unresponsive. 

Goldco IRA Reviews / Goldco IRA Review

Goldco’s Precious Metal IRA is probably its most famous product. So, let’s see what some people online have been saying about this account option.

One person left a 5-star Goldco review saying that the process of converting their traditional IRA into precious metals was “seamless.” 

Another customer complained that the value of their IRA had plummeted from $50,000 to $17,000 by the time they received their first statement. No wonder this person left a 1-star Goldco review!

Goldco Reviews Reddit

I found a Reddit thread where someone asked for a fair Goldco review.

One person responded by saying that Goldco is a “reputable company that has been in business many years.” 

Another Goldco fan described their positive experience. They praised the company’s customer service and educational resources. 

Someone else said that Goldco’s offers aren’t always clear and that the prices for silver aren’t competitive. 

In an especially negative Goldco review, someone suggested buying metal from coin shops instead.

Goldco Reviews BBB

Here are some highlights of Goldco’s page on the Better Business Bureau (BBB) website:

• Goldco gets an A+ grade.
• It’s considered an “accredited business.” 
• It receives an average of 4.79 stars from customers.

That’s about as good as it gets!

Is Goldco Worth It?

Goldco is worth it for anyone who wants to convert their savings into precious metals. 

Customer service is a big reason why using Goldco is a good idea. Rolling a traditional IRA over into precious metals can be complicated. Maybe it’s something you’ve been considering for a while, but you’re worried about the headaches it could cause.

Well, Goldco is likely to give you a stress-free experience. The company’s representatives will guide you through the process, giving you pointers along the way. When it’s all said and done, you’ll likely be left thinking, “Wow, I own gold and silver now – and it really was that easy!”

Just keep in mind that a Precious Metals IRA only really makes sense if you already have $50,000 in retirement savings. Goldco recommends putting no more than half of your savings into gold and silver, and the minimum for opening an account is $25,000.

What if you don’t have that kind of money to invest? Then, consider buying smaller amounts of gold or silver directly from Goldco.

Smart investors are always looking for ways to diversify and optimize their portfolios. Goldco can help you do that!

And if you’re looking for other ideas, read this article on the best way to invest money.

Commonly Asked Questions About Goldco

Goldco Competitors / Alternatives to Goldco / Similar to Goldco? 

Here are some companies like Goldco that can help you invest in precious metals:

• Augusta Precious Metals (check out this Goldco vs Augusta Precious Metals comparison)
• Birch Gold Group
• Advantage Gold
• American Hartford Gold
• Lear Capital

If you’re interested in real estate investing instead, check out our Groundfloor review.

Or if you prefer investing in stocks or treasury bills, read our Public review.

And if you’d like to learn about how AI could help you manage your portfolio, check out our Streetbeat review.

What is The Catch With Goldco?

The only real “catch” with Goldco is that the minimum investment for a Precious Metals IRA is $25,000. If you want to invest less than that, you can buy gold and silver directly from the company.

Is Goldco a Scam?

Goldco isn’t a scam – far from it. It’s a legitimate company that gets an A+ grade from the Better Business Bureau (BBB) and 4.7 stars from customers on Trustpilot. 

Goldco Lawsuit? 

I’ve found court documents from a few lawsuits against Goldco, but none of them describe patterns of fraudulent or criminal behavior. In general, Goldco has a solid reputation. The company even gets an A+ grade from the Better Business Bureau (BBB).

How Much Does Goldco Charge for IRA?

There are three fees associated with a Goldco Precious Metals IRA:

1. A one-time $50 setup fee.
2. An annual $80 administration fee. 
3. An annual storage fee ($100 – $150 for a Gold IRA)

What is The Minimum Investment for Goldco? 

The minimum investment for a Precious Metals IRA from Goldco is $25,000. Don’t have that much lying around? You can buy precious metals from Goldco directly without an IRA, or boost your bank account with these secret websites to make money online or with one of these banks with immediate sign-up bonus.

Goldco Review Complaints?

Some Goldco customers complain that the price of silver doesn’t always match the market value. A few others claim that the offers for free silver aren’t presented in a transparent way.

Who Owns Goldco?

Goldco is its own company, technically known as Goldco Direct LLC. It has its headquarters in Calabasas, CA, and Trevor Gerszt is the founder and CEO.