Goldco is a very reliable company that has been around for a while. They would be an excellent choice if you are thinking about rolling over your current IRA into gold, or if you want to establish a new Gold IRA. Goldco can help you protect your retirement assets with a Precious Metals IRA.
The owners of this website may be paid to recommend Goldco. The content on this website, including any positive reviews of Goldco and other reviews, may not be neutral or independent.
Who is Goldco
With over ten years of experience in the precious metal industry, Goldco is one of the best companies to help you protect your retirement savings.
Among other things, Goldco is an excellent company to invest in if you’re looking into a gold IRA rollover or setting up a new one. They can also help you protect the assets in your existing retirement account- like an IRA, 401(k), 403(b), TSP, savings, etc.- by rolling it over into a Precious Metals IRA.
At Goldco, they not only offer gold and silver for sale but also direct sales of precious metals to our customers. If you have a savings account, one of the Goldco precious metals specialists can help you diversify your funds with precious metals.
Goldco is rated A+ by the Better Business Bureau and triple A by Business Consumer Alliance. Based on our quality customer service, dependability, and ethical business practices, they have garnered thousands of positive reviews from satisfied customers.
In 2021, Goldco won the prestigious Stevie Award for Company of the Year at the 19th Annual American Business Awards. This is just one of many accomplishments for the company in recent years; they have also landed a spot five times on Inc. 5000’s list of fastest-growing private companies in America.
At Goldco, they mainly sell IRA-eligible gold and silver coins so their customers can expand upon or start new precious metals IRAs. To help our customers assemble the perfect portfolio of precious metals to achieve their retirement goals, they provide them with in-depth materials like videos and e-books.
According to Goldco, their entire business model and customer relationships are built on trust, as well as the connection between their precious metals specialists and customers.
What services and products does Goldco offer?
Goldco is a precious metals broker that makes buying and selling gold and silver easy. With an IRA, you must have a custodian manage your account assets. Goldco will help you with the related paperwork so that everything runs smoothly. If you already have a retirement account, they will also give you all the assistance rolling it over into your precious metals IRA.
For a Gold coin to be eligible for investment in a Gold IRA, the coin’s purity level must meet or exceed .995 fineness.
Goldco only buys from high-quality mints worldwide to get IRA-eligible coins for investing in a Gold IRA. They also give you the best price when selling your Coins back to them.
If you opt to invest in a gold IRA, there are several gold coins that you can purchase to fund your account. Goldco works with mints who provide high-quality coins eligible for gold IRAs, for example:
● Gold American Eagle gold coins
● Gold Maple Leaf coins
● Gold Freedom and Hope coins
● Gold bars
● And more
If you’d rather purchase silver coins, you can choose from these options:
● Silver American Eagle coins
● Silver Maple Leaf coins
● Silver Lucky Dragon coins
● Silver bars
Learn How to Open a Goldco Precious Metals IRA
You can contact Goldco directly or fill out an application form online to set up a precious metals IRA. You will be required to provide your Social Security number and other identifying pieces of information, as demanded by any investment account.
After you receive and review the comprehensive guide that Goldco will send to you, they can help assist your decision on what gold or silver investment is best for your IRA.
Step 1 – Open IRA
After reading and understanding Goldco’s business terms, you can complete your purchase by signing an agreement. A company representative will guide you through the rest of the process.
Step 2 – Invest in Your Future by Funding a Self-Directed IRA
You can fund your IRA by rolling over assets from previous retirement accounts like 401(k)s, 403(b)s, and TSP savings. These types of transfers normally don’t have any tax consequences. We’ll dive deeper into this process later on.
Step 3 – Buy Your Desired Precious Metals
After your precious metals, IRA is funded, you can pick which precious metals to include in it.
Why trust Goldco with your finances?
The dollar has decreased significantly since 1971, losing 98% of its purchasing power. On the other hand, gold’s value remains stable over time.
Precious metals exist independently from any government, which gives them an advantage over fiat money.
Fiat money is a form of currency that is not backed by any commodities but only regulated by the issuing government. Most modern paper currencies are fiat currencies, such as the U.S. dollar.
Hand-in-hand with political instability comes currency devaluation. When a government prints an excessive amount of money, it leads to inflation which then causes the citizens to lose faith in their government-issued fiat currency. As a result, people look for alternative investments, such as precious metals, that will hold their value during hyperinflationary episodes.
Gold has always been seen as a stable investment during times of inflation. With recent global unrest, it seems that inflation is inevitable. Inflation occurs when the value of a currency decreases over time, meaning that each unit can buy less than it could in the past.
If GoldCo isn’t right for you, check out Red Rock Secured.
Goldco Service Fees
The required minimum purchase at Goldco to start a gold IRA is $25,000. Goldco’s preferred Custodian charges a flat annual account service fee which includes a one-time IRA account set-up fee of $50. as well as a $30 wire fee. Annual maintenance is $100, and storage is $150 for segregated storage or $100 for non-segregated storage.
Fees for gold storage and custodianship can vary depending on the company you select to handle these services (required by the IRS, as all IRA assets must be managed by a custodian). Depending on the Custodian, storage fees can range from $10 to $60 per month, or as a percentage of assets, from 0.35% to 1% annually. Goldco does not charge any storage fees for cash transactions over $25,000.
Options for Storing Gold with Goldco
By opening a Precious Metals IRA, you can rest assured knowing that all of your metals will be stored securely in an insured depository. The IRS demands that these types of accounts only use physical precious metals as funding, which is why we partner with the best storage providers in the industry who have cutting-edge security and technology measures.
Goldco’s primary storage provider is Delaware Depository, which has over two centuries of experience with precious metals.
At each of our storage facilities, you will find advanced vaults as well as various security measures to prevent any theft or damage to your investment.
Although it might be tempting to store your precious metals at home, the IRS requires that they are instead stored with an IRA account and one of their authorized warehouses. These warehouses have high-tech security systems and appropriate insurance in place.
Goldco Customer Reviews
Gold and Silver IRA-Approved Coins
You can place a wide variety of qualified precious metals in your Gold or Silver IRA, but not every coin is eligible for investment. In order to be placed in an IRA, coins must meet a minimum fineness requirement of .999 purity.
Goldco only sources coins of the highest quality from mints around the world that are eligible for investment in a gold or silver IRA. If you’re not happy with your purchase, they will even BUY BACK your IRA-approved coins at the highest price possible, guaranteed.
On the official website, you’ll find numerous coins Goldco offers customers that are eligible for a gold or silver IRA. You can also reach out to their specialists by phone or email to learn more about IRA-eligible coins or to get more information about rollovers, transfers, and other Gold or Silver IRA details.
What are the benefits of a 401k to Gold IRA Rollover?
Although some investors might think otherwise, you can easily transfer or roll over funds from an employer-sponsored 401(k) or a self-directed 401(k) into a Gold IRA. Even so, there are specific regulations that must be followed during this process, so make sure you understand them before beginning.
If you have a 401(k) through a former employer, rolling it into a new Gold IRA is simple–just choose a new custodian and they’ll take care of the rest. If your current employer sponsors your 401 (k), though, things get more complicated when you try to roll it over into a self-directed IRA.
If you already have a 401(k) through your employer, take a look at the terms of your policy to see if gold investments are allowed. Some employers don’t allow this type of investment while you’re still employed. If you’re unsure, give your employer a call and ask about the rules of your current 401(k), as well as whether or not you’d be able to rollover or transfer to a Gold IRA.
Deciding on a gold IRA provider is important.
Standard IRAs usually contain stocks and bonds, but a gold IRA is different in that it invests in physical precious metals like bars and coins.
Precious metals vendors offer a wealth of information and resources for individuals nearing retirement or who want to invest in precious metals.
Not only will the credible gold IRA companies listed in this guide provide you with knowledge, but they will also guide you through new account activation, selecting a professional custodian, picking the right gold items, and determining where they will be stored safely.
Determine Who Will Hold Your Self-Directed IRA
The rules and regulations allow individuals to store gold in their very own Individual Retirement Account (IRA), with the trustee of the gold IRA being identified at this stage.
A custodian will process and report all activities to you and the IRS for your gold IRA fund. They will be responsible for helping with any precious metal purchases or sales that you desire, as well as finalizing payments.
When opening a physical gold IRA, be sure to invest with a company that is equipped and able to accommodate a “self-directed” IRA. With this type of account, the owner has control over their physical assets inside the IRA.
Time To Setup Your Account
It’s now time to open your new gold IRA account with the chosen company so they can begin working. The custodian will need to use the provider of gold or silver in order to let you purchase precious metals.
Before you purchase any precious metals, be sure to first put money into your IRA. You can do this by transferring funds via bank transfer, check, or cash.
The custodian will usually tell you how much money you’re allowed to spend in a year when you open your account, but if not, the IRS website provides all the details you need. The limit changes often take into consideration depreciation and other age-related factors, so it’s tough to keep track of without help.
Invest in your future by IRA Rollover
After that, you have to relocate the funds in your current retirement plan into a gold IRA rollover account. It’s possible that your former IRA custodian might send the money directly to your new custodian as part of a direct rollover. Another option is for them to send what was in your old retirement account straight to you with the understanding that it will be up to you to conduct the required IRA rollover yourself. There could be some additional paperwork involved if this is the route you take. Generally speaking, though, most experts prefer a direct rollover because there’s less red tape and form-filling involved overall.
Invest in Gold Through Your IRA
You now have the power to purchase whichever type of valuable metal you want from a custodian. I would recommend that you go with one of the companies listed above in order to reduce your chances of being scammed. In addition, familiarize yourself with the IRS guidelines in order to determine what gold products are verified and acceptable.
In the end, you’re the only one who can decide what to store in your precious metals IRA. Your gold IRA custodian will give you all the proper documents so that your purchase is certified.
Your excitement at investing in precious metals is understandable, but make sure to find out the security details of how they will be sent and stored, as well as if the journey is insured.
Goldco Frequently Asked Questions
Can I take physical possession of my metals?
Your IRA owns your metals as soon as they are stored in a depository. You can begin taking distributions at age 59 ½, and you have the choice of receiving cash payments or precious metals.
What are the risks associated with a precious metals purchase?
Please keep in mind that all investments come with risks. A few of those risks for precious metals are as follows: The prices of gold, silver, and other metals may change rapidly, which means the value you paid for them could increase or decrease. Additionally, because they do not provide income like stocks or bonds can*, over time their resale value may be lower than what you initially paid*. This is by no means a complete list of possible dangers, so please take some time to look into this more if you’re interested in purchasing precious metals.
*Precious metal interests cannot pay interest or dividends like alternate securities
Who is eligible for a Precious Metals IRA?
If you have earned income, you are generally eligible for a Precious Metals IRA.
What type of metals can I keep in my Precious Metals IRA?
At Goldco, they understand that popularity doesn’t always equate to what’s best for you. That’s why they offer a variety of precious metals in our Individual Retirement Accounts (IRA), including gold and silver- but also platinum and palladium for those looking to diversify their portfolio. And because one size never fits all, each category offers different types of products, like coins or bars.
Goldco not only offers common bullion products but premium bullion products too. No matter which precious metals you select, the IRS will approve for IRA inclusion those that Mandated fineness. The specialists at Goldco can help you determine the right mix of precious metals needed to achieve your investment goals.
Final Thoughts on Goldco
Many people choose to invest in precious metals, like gold, to secure their future from inflation. Goldco has helped customers build retired lives they can enjoy for years by being a reliable and trustworthy company.
This is not financial advice.
The owners of this website may be paid to recommend Goldco. The content on this website, including any positive reviews of Goldco and other reviews, may not be neutral or independent.
