GoldCo is an investment brand that allows you to invest in gold, either via buying gold bars & coins or through a gold IRA. The platform offers multiple investment vehicles that could meet your needs.
What is GoldCo?
Precious metals have become a secure store of value, consistently staying around the same value over time. While cryptocurrencies and stocks may fluctuate, gold and silver are consistent options with far less risk than other products. With GoldCo, consumers can invest for their retirement without nearly the same risks.
With an A+ rating from the Better Business Bureau and an AAA rating from the Business Consumer Alliance, this GoldCo has plenty of positive reviews from customers. It even has endorsements from major celebrities and famous personalities like Sean Hannity. The creators offer a free online kit to understand what consumers can get from GoldCo.
How GoldCo’s Gold IRAs Work
The whole point of a gold IRA is to provide stability as an investment, which is one of the reasons that gold has an advantage over cash. Over the last 50 years, the US dollar has lost nearly 98% of what it once was. In contrast, gold hasn’t changed much in its value, making it a compelling store of value. Anyone who values the power of a dollar might find what they need in a gold IRA. GoldCo makes it easy for you to invest in precious metals.
Opening an account with GoldCo is rather easy.
To open a gold IRA, you will need to sign an agreement and the terms and conditions. Users won’t have to do this part of the process by themselves because a representative will be available to consult.
With the self-directed IRA in place, users now need to add the assets to it. Users have several options, allowing them to roll over the assets that they currently hold in their existing retirement accounts. Plus, users don’t have to worry about the potential tax consequences of transferring these accounts.
Finally, buy the gold and precious metals that the account will hold. As the GoldCo gold IRA receives the funds, the user can purchase the gold or silver product. GoldCo does not deal in platinum or palladium.
Approved Products from GoldCo
Every gold IRA company has different products they can purchase. Luckily, GoldCo provides many options for consumers, but there are minimum fineness requirements. Gold coins, for example, must be at least 0.995, and they work with mints around the world that meet this requirement.
Currently, the available products include:
- Gold American Eagle. The Type 1 Gold American Eagle is a gold bullion coin, and it is the official one of the United States. The available increments include 1 oz, 0.5 oz, 0.25 oz, and 0.1 oz. The Type 2 Gold American Eagle comes from 22 karat gold, and the only difference from the type 1 is the image.
- Gold American Eagle Proof. This coin is IRA eligible, and it comes exclusively from one ounce of 22 karat gold. Users can choose from 1 oz, 0.5 oz, 0.25 oz, and 0.1 oz assets.
- Gold Liberty Coin. This coin features the image of Queen Elizabeth II on one side, while the other size has Philadelphia Liberty Bell. The total value is $25, and the New Zealand Mint issued them.
- Gold Australian Striped Marlin. The Perth Mint makes this coin of Australia, and it is typically used as legal tender. It is made with 99.9% gold.
- Gold Maple Leaf. This bullion coin comes from the Royal Canadian Mint, using 1 ounce of 0.9999 pure gold. Originally, it was minted in 1979.
- American Gold Buffalo. Made by the United States Mint, it is made with 0.9999 pure gold. There is no other 24-karat gold bullion coin that precedes it.
- Gold American Bald Eagle. The Perth Mint makes this coin of Australia. It uses 0.25 oz of 0.9999 pure gold to make it.
- Gold Military Guinea. The East India Company struck this gold coin in London as an homage to a British coin that used to be used around the world. It is made with 0.25 oz of 0.999 pure gold.
- Gold Freedom Coin. This coin was made in New Zealand in 2021 to celebrate the anniversary of the Statue of Liberty.
- Gold Freedom and Hope. This coin, which the Royal Dutch Mint made, comes from 0.25 oz of 0.9999 pure gold. It commemorates the anniversary of the Declaration of Independence.
- Gold Lucky Dragon. This coin symbolizes prestige and good fortune. The Royal Canadian Mint made it with 0.25 oz of 0.9999 pure gold.
- Gold Australia Saltwater Crocodile. This coin is used as legal tender in Australia, and the Perth Mint made it with 0.25 oz of 0.9999 pure gold.
- Gold British Lunar Series. A new animal is featured each year on this coin based on the Chinese zodiac. The Royal Mint makes it with 0.25 oz of 0.9999 pure gold.
- Gold Bars. All gold bars are IRA eligible, and they have a fineness of 0.9999.
- Silver coins. The silver coins are much like the gold coin options available above. Users can purchase Type 1 or Type 2 Silver American Eagle, offering 1 oz of 0.999 silver each. Users also choose mints from Australia, New Zealand, Canada, and the United Kingdom.
- Silver bars. All silver bars from GoldCo are IRA eligible and have 0.9999 fineness.
- Five Principles. Five Principles is a non-IRA eligible coin made from an ounce of silver by the New Zealand mint. It is called Five Principles because of the engraving of the five principles that Chuck Norris has in life – faith, family, fitness, freedom, and fight.
With any purchase, consumers are protected by the buyback program. Additionally, GoldCo will repurchase any bars or coins at the highest current price. As mentioned, GoldCo does not sell any platinum or palladium.
Pricing and Fees for GoldCo
The minimum investment among consumers is slightly higher than most gold IRA companies require. However, while other companies may conceal it, GoldCo is transparent about these fees.
Users will not have to pay fees for any new client, though the annual fee will be $180 and any storage fees. To invest with GoldCo, the minimum amount required is $25,000.
Pros and Cons of GoldCo Pros and Cons
With many options offered by GoldCo, consider the pros and cons when deciding if investing in precious metals is the right decision for you.
Pros
The pros of GoldCo include:
- Bonuses for new customers.
- No fees for the first year.
- Helpful advisors who don’t push users to spend more.
- Good support for first-time gold IRA investors.
- Buyback program with the highest payout.
- Offers a broad range of gold and silver coins and bars from around the world.
- Many positive customer ratings.
Cons
The cons of GoldCo include:
- Minimum investment of $25,000.
- No purchase options for platinum or palladium coins.
- Account fees.
What Do Other Customers Think of GoldCo?
Most customers seem to enjoy the services that GoldCo provides. In fact, enough positivity has been voiced by customers that the Better Business Bureau has awarded it an A+ rating. It has also received recognition from Trustpilot (4.8 out of 5 stars) and Google Reviews (4.7 out of 5 stars).
The consensus of these reviews highlights the experiences they had with GoldCo employees, including their customer service team and sales team. With or without these employees, consumers generally said that the rollover from a 401(k) to a precious metals IRA was fairly easy, and the process was effortless with a salesperson’s help.
Unfortunately, some customers weren’t as enthused at their experiences. Some people found the fees confusing and were unsure about gold and silver storage locations, making it difficult to go through the initial setup and maintenance of the accounts. As friendly as the customer service team seems, customers grew frustrated with their many daily calls to purchase these gold IRAs. People who wanted to spend less money didn’t like the high requirement for the minimum deposit. Other companies only require that the user makes a $5,000 minimum investment.
Ultimately, the positive reviews easily outweigh the negative. Most customers had exactly the advertised experience, and they felt comfortable with their transparency.
About GoldCo
Based out of Woodland Hills in California, GoldCo has connected consumers with the gold IRA services they need since 2006. GoldCo makes an effort to offer excellent customer service. The company can be reached through the following methods:
- Email: info@goldco.com
- Phone: 855-483-1718
- Users can also reach out by filling out the form at https://goldco.com/contact-us/.
Final Thoughts
GoldCo provides consumers with gold IRA services, offering good services to users for over 15 years with gold, silver, and other precious metals. Users can transfer their retirement funds using precious metals, which consistently hold a store of value. With coins, bullion, and other options, users can choose either IRA eligible or ineligible assets.
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