January 3

Goldco Review: Fees, Ratings, and More (2023)

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If you're like most Americans, you're contributing to an IRA or employer-sponsored retirement plan that doesn't allow investments in physical precious metals.

If you want to diversify your holdings into alternative assets like gold and silver, you can either go at it yourself, or turn to a company that specializes in these gold IRA accounts.

Goldco Precious Metals is one of these specialists ready to facilitate your new precious metals IRA. In this Goldco review, we'll look at their products, reputation, online ratings, fees, storage options, and more. Is Goldco worthy of your business? Let's dive in.

Goldco


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Goldco Precious Metals Investor Kit

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Goldco Precious Metals

Goldco is a privately held wealth and asset protection firm located in Woodland Hills, California. Founded by Trevor Gerszt in 2006, the company's focus for over seventeen years of business has been in precious metals IRAs.

They pride themselves on being a full-service firm. Outside of gold and silver IRAs, they also handle direct sales of precious metals to customers across the U.S. 

Gold IRAs

"Gold IRA" is a general term for a self-directed IRA that holds precious metals. The bulk of Goldco's dealings are in these gold IRAs. Investors can transfer or rollover a portion of their retirement into physical gold, silver, platinum, and palladium bars and coins.

The company has a team of account executives that handle every step of the process from setting up a self-directed IRA, to moving funds between custodians, and purchasing the precious metals to be held in the new IRA.

How to Set Up a Gold IRA with Goldco

In seventeen years of business, Goldco has streamlined the entire process of opening your gold IRA. Here's what to expect from making your initial contact to finalizing your gold IRA rollover:

Their expert team will work directly with you and the custodian of your existing account to determine exactly what is required for the safe and efficient transfer of funds to your new self-directed gold IRA.

  1. 1
    Request a Goldco Investor Kit: Fill out Goldco's online form.
  2. 2
    A Goldco representative will reach out to confirm your mailing address in order to ship out your gold IRA investor kit. Investor kits normally ship within 2-3 business days.
  3. 3
    Review your informational kit when it arrives. If you decide to open an IRA with Goldco, you can call and speak with a precious metals specialist within their IRA department.
  4. 4
     Your account exec will work directly with you to open your self-directed IRA.
  5. 5
    They will also work with the custodian of your existing retirement account to determine what is needed to ensure safe and efficient transfer or funds to your new self-directed IRA.
  6. 6
    After funds are transferred, you can select from Goldco's list of IRA-eligible precious metals to purchase for your new account. If you're not sure what to buy, you can consult with your Goldco account executive. 
  7. 7
    Your Goldco rep will then arrange to have your metals shipped (fully insured) directly to the storage depository of choice (more info below). This can be done in as little as a few days, depending on Goldco's current inventory of precious metals.

Goldco's team opens new gold IRA accounts every day. They will hold your hand through the entire process which can take as little as one week. Request your free gold IRA investor kit here.

Goldco Precious Metals Investor Kit

Request Your Free Investor Kit:

Protect Your Investment Portfolio or IRA with Physical Gold & Silver.

Goldco's Precious Metals IRA Fees

Gold IRA Custodial Fees

For the most up-to-date information on storage and custodial fees, we contacted Goldco directly.  According to Goldco:

The required minimum purchase at Goldco to open a precious metals 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.

Related: Gold IRA Eligibility Checker - See If You Can Invest in Gold with Your Retirement Account

What is a Custodian? Below is an explainer video by Equity Trust Company, a popular gold IRA custodian used by many of the top precious metal IRA companies.

Gold IRA Vault Storage Options

The company can work with any of the top gold IRA storage depositories in the U.S. Usual suspects include:

  • Delaware Depository Service Company (DDSC) is one of the largest precious metals IRA depository in the United States. Goldco Precious Metals offers non-segregated vault storage through DDCS for a flat rate of $100 per year.
  • Brinks is one of the most widely recognized precious metals IRA depositories. Goldco offers non-segregated storage via Brinks for a flat rate of $100 per year.
  • International Depository Services (IDS) is a full-service precious metals depository. Clients that request segregated vault storage have the option of using IDS.  The costs? $150 annually for segregated storage.

Many customers choose the less expensive non-segregated vault storage option. You can discuss these options with your gold account executive and decide which makes the most sense for you.

Annual Custodial Fees

Annual Storage Fees

Total Annual Costs

$100

$100-$150

$200-$250

Very important to note: Goldco often runs promotions and other customer bonuses or incentives. For 2023, Goldco will cover 100% of your IRA fees for the first year.

When you speak with a Goldco rep, make sure to ask about this or if they're running any other promotions.

Goldco Precious Metals Investor Kit

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Buyback Program

If and when you choose to liquidate your account, customers have the freedom to sell to any buyer of their choice. Goldco has a generous buy-back program, and to date has never refused to buy back metals from any of their clients.

Customer Reviews and Reputation

In our Goldco company review, we like to curate actual customer ratings from trusted third party websites. What do their actual customers say about the firm?  

Below, you'll find links to third party verified reviews:

Goldco BBB Reviews
  • Better Business Bureau: The company has been accredited with the BBB since 2011. At the time of this review, they have an A+ rating and 1441 reviews. Their verified customer reviews average 4.83 out of 5 stars.
  • Business Consumer Alliance: Goldco has a AAA rating with the BCA (their top rating).
  • TrustLink: Goldco Precious Metals boasts a 5 Star average rating with TrustLink. This is based on 253 verified customer reviews.
  • TrustPilot: The Gold IRA specialists also have a 4.8 Star average rating with TrustPilot based on 1,044 customer reviews.
  • Google Reviews: The company has racked up 1,232 Google reviews with a total average rating of 4.9/5 stars.
  • Consumer Affairs: They've racked up a 4.8/5 Star average rating based on 1,162 customer reviews.
  • Yelp: The company has only nine reviews on Yelp so far, with a 3.5/5 star average rating from these customers.
client complaints and feedback

Note: The team at GoldIRASecrets will do our best to keep these ratings displayed on third party sites updated. Click on the links above to see the most updated rankings and verified customer reviews.

Related: Traditional vs. Roth IRAs? What Gold and Silver Investors Need to Know

Pros and Cons

If you're on this site, you're likely doing the smart thing - researching reviews, ratings, and complaints for some of the top gold IRA dealers in the industry.

What We Like About the Company

Based on our review, we've placed Goldco at the top of our list for precious metals IRA dealers for 2023. The company has been in business for over a decade (not a fly-by-night company), their fees are competitive, they've racked up thousands for glowing reviews from past customers, and they have a generous buyback program. They also have a wide selection of IRA-eligible gold, silver, platinum, and palladium products to choose from.

Goldco Complaints: What We Don't Like

The only criticism we have of this company is that they have high minimums for their gold and silver IRAs. The company will not open a new IRA for under $25,000. While $25,000 is modest for a gold IRA rollover, this threshold to do business could price-out some potential investors.

There are competitors such as Birch Gold or American Hartford Gold that will open new accounts for as low as $10,000, allowing a wider range of investors the opportunity to diversify into precious metals.

Goldco Review

We've actually got on the phone and spoke with members of their team to get a feel of how they do business. We were very pleased with the relaxed, no-pressure vibe from their employees. We are pleased to promote Goldco Precious Metals and have placed them at the top of our list of best gold IRA dealers for 2023. Request your free investor guide to learn more.

Goldco Precious Metals Investor Kit

Learn more about gold’s unmatched properties for protecting wealth, either as part of your investment portfolio or inside a retirement account.


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About the author 

Ilir Salihi

Ilir is passionate about personal finance, investing, and digital marketing. He's written about precious metals and cryptocurrencies since 2013. When he's not publishing new content, he's spending time at home in Washington, D.C. with his family.

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