Goldco is a company that offers brokerage services for precious metals IRA accounts. They also sell traditional precious metals investments including gold, and silver outside of a precious metals IRA, which is a big advantage and a great way to safeguard your assets while offsetting negative sentiment in other markets.
Another interesting benefit of doing business with Goldco is their precious metals repurchasing program. If you ever need or want to sell your precious metals quickly, including your gold and silver investments, they will buy them back from you if you are a client of the company. They’ll also buy them back from you as you begin taking distributions at 59 ½ years old if you decide to take them at this point.
Goldco Pros
- Goldco is a full-service precious metals company
- They specialize in setting up silver and gold IRAs
- They have more than 15 years of experience helping customers initiate gold IRA rollovers
- They operate with the highest ethical standards and continue to grow their sales and client base exponentially
Goldco Cons
Unlike the pros mentioned above, I really do not have anything majorly negative to say about this company. The one thing that I possibly want them to change is their unwillingness to sell anything other than silver or gold on their website. I think customers would benefit from being able to purchase platinum or palladium IRA investments for their self-directed IRA accounts.
Examples of Positive Reviews from Previous Happy Customers
As you can imagine, after being in business for more than 15 years, Goldco has definitely racked up a plethora of positive reviews from happy customers. Today, I’d like to share the gist of many of these happy reviews with you below and tell you how a number of their customers have felt about their experience working with Goldco.
Before we get into some of the more specific details, it’s important to point out that Goldco has an average 4.8 out of 5 stars on the consumer affairs website and this is based on 1129 separate ratings.
Positive Review Example 1: Customer in Chesterland, OH
One verified customer living in Chesterland, OH was very pleased with his experience working with Goldco. He decided to convert some of his retirement funds into a precious metals IRA.
The customer was very happy because not only did they make this conversion for him, but they also gave him an extra 10% in free silver, which is an incredibly sweet deal if you ask me.
Besides the excellent 10% in free silver bonus, he was also incredibly impressed with the company’s transparency, helpfulness, and efficiency. While others might caution you when getting into gold and silver investing, this investor says he has no regrets and he highly recommends working with Goldco.
Positive Review Example 2: Customer in Long Beach, MS
This customer was very pleased with his direct silver and gold buying experience and was very happy that he had the opportunity to work with sales representative Robin Hubbard.
During the transaction, he discovered that since he was making this purchase for his personal investment, he had the opportunity to keep the gold stored in a safe place at home. The reviewer was very happy to have these additional cost savings because he wasn’t ready to keep his gold and silver safely stored in a recommended depository.
This reviewer was also a first-time buyer. He was very worried that he was going to make a mistake, but Mr. Hubbard immediately put him at ease. Don’t get me wrong, because the reviewer did his research and he learned that Goldco is an excellent company to work with when investing in silver and gold.
But after considering numerous companies, he ultimately decided to go with Goldco. Their customer service team and sales approach were second to none when compared to other companies that he considered doing business with.
Examples of Complaint Reviews from Unhappy Goldco Customers
No company is perfect and they are unfortunately going to make mistakes from time to time. This is true whether you decide to do business with Goldco or any of the other precious metals IRA providers can have an excellent reputation in the industry.
With that in mind, I’d like to tell you about two unhappy experiences that previous customers have undergone when doing business with Goldco. These negative experiences are few and far between, but they do exist and you deserve to learn about them.
Negative Review Example 1: Customer in Brooklyn, NY
Unfortunately, this unhappy customer was excited to work with Goldco because of their excellent reviews. She was looking to purchase typical gold and silver coins or bars. Goldco told her that coins minted in the United States were subjected to capital gains tax. On the other hand, they said that collectible coins reflect melt value within the account, so they recommend those in a limited capacity even though the collectible coins are typically overpriced. Goldco also let the customer know that they would buy them back from her if she ever decided to sell.
She made the purchase and to make a long story short, she eventually had to liquidate her assets. She’s decided to sell them through the buyback program. The coins had accrued value, but due to the percentage taken by Goldco and other fees, she only ended up recouping 1/3 of the gains that she was expecting to make.
Negative Review Example 2: Customer in Leander, TX
A new gold and silver investor contacted Goldco to initiate a partial gold IRA rollover. To make a long story short, when he started making his first silver purchases, the silver spot price was $26.50 at the time for an ounce of silver. The customer was shocked to learn that Goldco was going to charge him $74.90 for a 1-ounce silver American bald Eagle coin. He was incredibly unhappy to say the least since this is a very large markup.
Online, you can find many Goldco reviews that sing praise of this company. You’ll find a very praising Goldco review over at IRAInvesting.com, as they rate it the top rated Gold IRA company.
Goldco Fees/Promotions
- Gold IRA or silver IRA investment minimum = $25,000
- Non–IRA minimum purchase investment = $3500
- Annual administration fee = $80
- Annual commingled storage fee = $100
- Annual segregated storage fee = $150
- Up to $10,000 in free silver
- IRA account setup and annual maintenance fees = free
- Qualifying accounts have their first year IRA fees waived. Contact a customer service representative to find out more
