Goldco’s Mission Statement: Goldco state that their mission is to educate Americans about the importance of safeguarding their retirement and to make it as easy as possible for them to use precious metals to protect their retirement portfolios from inflation, stock market volatility and economic uncertainty.
Review Summary: Our findings are that in all aspects of their business Goldco are very well set up to achieve these objectives, and it is evident from the amount of satisfied customers they have that they are succeeding. After comparing them with all the other companies we have reviewed we consider that Goldco have outshone the competition.
Goldco ‘At a Glance’ Analysis:
|Goldco Precious Metals Analysis|
|BBB Rating (Scale of A+ to F)||A+|
|BBB Customer Ratings||4.93/5|
|BCA Rating (Scale of AAA to F)||AAA|
|BCA Complaints (last 3 years)||1 – click here for details|
|Trustlink Rating||(250+ reviews)|
|Gold IRAs Offered (US)|
|Crypto IRAs Offered (US)||(via sister company)|
|Gold RRSPs Offered (Canada)|
|Preferred Depository||Delaware Depository|
|Preferred Custodian||Equity Trust Company|
|Minimum IRA Investment||$25,000|
|Physical IRA Application|
|Digital IRA Application|
|Set Up||$50 + $30 wire fee|
|Storage (annually)||Segregated: $159 (recommended)
Non Segregated: $100
|IRA Transfer Process||within 2 business days|
|401k Rollover Process||2 to 4 weeks|
|Delivery of Metals||In stock: a few days
New order: 3 to 4 weeks
|PEACE OF MIND:|
|US Mint Listed Dealer|
||Up to 10% of investment given back in FREE SILVER(5% on $50k-$100k investments, 10% on investments of $100k+ with no maximum)|
|Other Promotion||First year fees waived for IRAs above $50,000|
The Background to Goldco
How Goldco Have Evolved
Originally the company was called Goldco Direct. At that time they focused mainly on direct cash deals as opposed to IRAs.
As the company evolved they identified the growing need in the marketplace for a reputable Gold IRA provider.
They responded by taking the step to fill that gap themselves. That was the point at which they changed from being a gold dealer to a gold IRA company and in doing so they recognized the need to change their name to something that represented more the service they were providing.
Hence they changed their name, to Heritage Gold Group. That was short lived however because they soon discovered that a company named Heritage Auctions had a trademark on ‘Heritage’. They were forced to change their name again therefore.
They felt that they had outgrown the name Goldco Direct and changed instead to Goldco Precious Metals since they wanted it to reflect what they sold. Ideally at that point they would have preferred to be known as just Goldco but the domain Goldco.com was already taken by a company providing technology and services for Japanese technical translations.
They pursued the Goldco name however and after years of back and forth negotiations they managed to buy the Goldco.com domain and in April 2017 officially become Goldco, a name which they say won’t be changing again. To this day they are still often referred to as Goldco Precious Metals however.
- Goldco in 2021 is a company specializing in precious metals IRAs (Gold IRAs and Silver IRAs) and in selling precious metals to non IRA customers. They are based in Woodlands, California.
- They state that nowadays 80% of their business is in IRAs and 20% is in non IRAs, meaning of course that IRAs are now their main business.
Goldco’s two primary executives are their Founder, Trevor Gerszt and their CEO, Brenda Whitman.
Trevor Gerszt – Founder
Goldco founder Trevor Gerszt was literally born into gold in South Africa, the world’s second largest gold producing nation. His family had a tradition of gold collecting, which rubbed off on him from an early age. He grew up nurturing a passion for collecting gold numismatic coins and gradually realizing the importance of including this #1 precious metal in an investment portfolio.
It was a natural consequence that Gerszt would want to start his own gold dealing firm, which he did in 2006 when he founded Goldco (then known as Goldco Direct). He has injected into the company his love of the yellow metal, his desire to educate people and his strong belief that gold (and silver) have an important role to play in protecting your retirement savings.
Brenda Whitman – CEO
Brenda Whitman joined the company in May 2015 and has rapidly worked her way up the ladder from Director of IRA Services, to Chief Operations Officer, to CEO where today she fills one of Goldco’s top two leadership positions.
Whitman brings with her a wealth of experience in IRAs and gold dealings. Prior to joining Goldco she spend over 10 years with Capital Gold Group, filling various roles as she moved her way up the company ranks. These included Director of IRA Services, Vice President and taking charge of the company’s National Affiliate Program. In the latter capacity she helped financial professionals to educate their customers on the importance and opportunities to use gold to manage risk and reduce volatility in their retirement investments.
Goldco stands out for its impressive growth and national recognition.
- Ranked in 2015, 2016, 2017 and 2018 by Inc. Magazine on their Inc. 5000 list of the 5000 fastest growing private companies in the country
- The Los Angeles Business Journal has listed Goldco the seventeenth fastest growing business in the greater Los Angeles area
- Goldco is endorsed by former Presidential candidate Ron Paul and celebrity martial artist and actor Chuck Norris
Having extensively followed their growth and development we can understand why Goldco have gained a solid reputation for providing excellent customer service and unrivalled educational resources.
Goldco have exceptional ratings at independent consumer review sites.
Our findings as of September 2021:
Goldco at Better Business Bureau
- At the BBB (Better Business Bureau) Goldco are an Accredited Business with the maximum A+ Rating and 4.93 out of 5 Stars based on 96 Customer Reviews
Goldco at Business Consumer Alliance
- At the BCA (Business Consumer Alliance) Goldco have the maximum AAA Rating
- At Trustlink Goldco have a 5 Star Rating based on 253 Customer Reviews
Goldco at Trust Pilot
- At Trust Pilot Goldco have a 4.8 out of 5 Stars Rating based on 599 Customer Reviews
Goldco at Consumer Affairs
- At Consumer Affairs Goldco have a 4.9 out of 5 Stars Rating based on 392 Customer Reviews
Goldco Reviews at Google
- At Google Goldco have a 4.7 out of 5 Stars Rating based on 242 Customer Reviews
Goldco’s Ratings Comparison
In the table below we have compared Goldco’s ratings at independent review sites with the ratings of other leading Gold IRA Companies we have reviewed
|Gold IRA Company||BBB||BCA||Trustlink||Trustpilot||Consumer Affairs||Google Reviews
|Goldco||A+||AAA||5 out of 5 Stars||4.6 out of 5 Stars||4.9 out of 5 Stars||4.7 out of 5 Stars|
|Advantage Gold||A+||AA||5 out of 5 Stars||5 out of 5 Stars||5 out of 5 Stars||5 out of 5 Stars|
|BGASC||A+||Not Listed||Not Listed||4.8 out of 5 Stars||Not Listed||No Reviews|
|Birch Gold Group||A+||AAA||5 out of 5 Stars||4.8 out of 5 Stars||4.9 out of 5 Stars||4.9 out of 5 Stars|
|Blanchard & Company||A+||BBB||1 out of 5 Stars||Not Listed||Not Listed||No Reviews|
|Gainesville Coins||A+||Not Listed||Not Listed||3.6 out of 5 Stars||Not Listed||3.4 out of 5 Stars|
|Goldline||A+||A||2.5 out of 5 Stars||4.8 out of 5 Stars||Not Listed||1.7 out of 5 Stars|
|Lear Capital||A+||AAA||4.5 out of 5 Stars||4.8 out of 5 Stars||4.8 out of 5 Stars||No Reviews|
|Regal Assets||Not Accredited||AAA||4.5 out of 5 Stars||3.8 out of 5 Stars||Not Listed||No Reviews|
|Rosland Capital||A+||AAA||3.5 out of 5 Stars||4.8 out of 5 Stars||Not Listed||4.8 out of 5 Stars|
Goldco Reviews and Complaints
Positive Goldco Reviews
The vast majority of the Goldco Reviews we found (and there are many) are positive. We discovered that customers seem to particularly like:
- The way Goldco handles all the paperwork involved in setting up a new Gold IRA and does all the liaisons with the custodian and depository on the customer’s behalf
- The way the Goldco representatives take time to discuss and evaluate each customer’s circumstances, needs and retirement goals before recommending which metals to include in their new IRA
- Goldco’s customer service, the professionalism of their staff and the ease of doing business with them
Negative Goldco Reviews
Naturally, when you have been in business the number of years that Goldco have you cannot satisfy every customer. During our research we didn’t find many complaints however and importantly those we did find have been dealt with and resolved in a timely manner.
We noted that the majority of the negative reviews are connected with the misunderstanding of how the values of precious metals are calculated, particularly in the case of collectible coins. In some of these instances we noticed that the negative comments have been updated to positive ones after Goldco have explained to the customer how initially the listed value of these coins is the melt value (i.e. how much the melted coin would be worth) whereas the coin value is separate to the metal value.
Ratio of Positive To Negative Goldco Reviews
Overall we found 93% of the reviews to be positive which is a higher percentage than any of the other Gold IRA Companies we researched.
Below are screenshots of some of the Goldco reviews we found at well respected independent business review sites
Services Offered by Goldco
Gold/Precious Metals IRAs
Goldco will help you set up a Gold or Silver IRA or a combination of both, liaise with their preferred Custodian, Equity Trust Company on your behalf, help you identify which precious metals are right for you, assist you with the purchase of your IRS approved metals and arrange storage of them at an approved depository, thus ensuring that you are fully compliant with IRS regulations.
Cash Sales of Precious Metals
Goldco will help you identify which precious metals are right for you, assist you with the purchase of them at competitive prices and arrange secure and insured delivery to your choice of either a secure vault or your home. Delivery and storage is free of charge. Sales are limited to the United States. There are no international sales available.
In conjunction with their sister company, CoinIRA, Goldco will help you identify which digital currencies are right for you and to set up a Crypto IRA if you wish to use that as a means to invest in cryptocurrencies. Unlike Regal Assets they don’t offer the option to combine precious metals and cryptocurrencies in the same IRA.
In addition to their core services referred to above Goldco will assist you with:
- they will help you rollover your existing IRA into a Precious Metals IRA
Procedures For Simple IRAs
- they will guide you on opening a Simple IRA and explain the rules and procedures for gold and/or silver Simple IRAs
Procedures For Sep IRAs
- they will provide you with assistance and education about matters such as contribution limits and eligibility for SEP IRAs
Procedures For Roth and Traditional IRAs
- they will provide guidance and education for comparing Traditional and Roth IRAs and assist you with rolling them over into a Precious Metals IRA
What Is a Precious Metals IRA?
- A Precious Metals IRA (more commonly known as a Gold IRA) is a Self Directed IRA account which allows you to diversify your retirement investments by including physical precious metals (gold, silver, platinum and palladium) just as you would include, for example, stocks or bonds in a conventional IRA.
- You can rollover or transfer an existing retirement account into a Precious Metals IRA and continue making permissible annual contributions.
Why Choose a Precious Metals IRA?
- By having a retirement account that includes precious metals you are protecting your investment portfolio against inflation and market volatility or crashes that could cause havoc with your hard earned savings.
- Gold and silver have a reputation as being a ‘hedge’ because when markets fall and inflation rises they tend to go up in value. Therefore, by including gold and/or silver as a percentage of your investments you are balancing out your portfolio and reducing risks.
Physical metals shouldn’t be looked at just as an investment.
You also want to look at them the way you look at your home owner’s insurance, health insurance and auto insurance.
Precious metals are your financial insurance“
Goldco Evaluation: What Makes Them Unique?
As part of our research we set out to discover what Goldco are doing differently to their competitors. This is what we discovered:
- They have one of the best overall ratings in the industry (this is more difficult to maintain the longer you’ve been in business, and Goldco have been in business for 14 years)
- They have specialists in every different aspect of their business (not jack of all trades like some companies)
- They offer what they refer to as their ‘white glove service’ for IRAs. This encompasses expert assistance from beginning to end, a streamlined process with customers’ hands held every step of the way, knowledgeable, experienced reps, and strategic business relationships with the most reliable and experienced custodians and depositories
- Their staff are trained to discuss and evaluate your individual circumstances before recommending which metals to include in your Gold IRA. The purpose is to create the most suitable portfolio of precious metal assets, based on your capital, needs and retirement goals.
- For cash sales they include free, prompt delivery and free storage
- They offer Competitive pricing across the board with no ‘pushy’ sales people
- Special Promotions for new IRA customers:
– Goldco give 5-10% back in FREE silver (5% on $50k-$100k investments, 10% on investments of $100k+ with no maximum)
– They waive all your first year fees if you invest more than $50k
What this means to your pocket: If you were to open a new Gold IRA account with $50,000, as an example, you would save $320 in fees and receive $2,500 worth of free silver. If you were to invest more, the savings you would make and the free silver you would receive would be correspondingly more as well.
We found this to be the most generous promotion in the industry
- Goldco have a dedicated department for their Buy Back Program in which they offer their customers who wish to liquidate their metals very competitive prices and a very streamlined process
- They offer extensive educational resources. These include a blog, ebooks, videos and live price trackers, all backed up by customer support
The Gold IRA Transfer/Rollover Process With Goldco
The step by step process from your initial contact with a Goldco representative to your metals arriving at the depository is very straightforward and Goldco will hold your hand throughout the entire process.
We noticed that many customers mentioned in their reviews that they particularly liked how Goldco handled all the paperwork and liaising with third parties on their behalf throughout this process.
You speak to a rep and once you decide to proceed you will either speak to an IRA Specialist there and then or arrange a phone appointment with one for another time. The Specialist will gather the required information for completing the application to establish your account and for transferring your funds
Once the funds have arrived into your account your Account Executive will help you choose, in line with your personal circumstances, the best metals to be purchased and held in your new IRA
Your metals will arrive at your chosen depository for secure storage a few days later if the metals are held in Goldco’s existing inventory, or within 3 to 4 weeks if an order has to be made
- As per standard practice when opening financial accounts you will be required to provide personal information such as your social security number.
- If you do not already have a precious metals custodian or preferred depository Goldco will help you to set up accounts with their recommended strategic partners.
- To initiate the process Goldco will mail or email to you a comprehensive investment guide which will include information about the precious metals options for Gold IRAs. This will help you decide which precious metals to include in your new IRA.
Goldco’s Fees Compared
In the table below we have compared the amounts and type of Goldco’s fees with those of other leading Gold IRA Companies
|Gold IRA Company||Set Up Fees||Admin Fees (annually)||Storage Fees (annually)||*Fee Type|
|Goldco||$50 + $30 wire fee||$80||$150 for segregated
$100 for non-segregated
|BGASC||Not divulged||Not divulged||Not divulged||Not divulged|
|Birch Gold Group||$90||Not divulged||$160||Flat|
|Blanchard & Company||$25||$60-$250 (scaled)||$100 (scaled)||Scaled|
|Gainesville Coins||$25+ (scaled)||$60+ (scaled)||$100+ (scaled)||Scaled|
|Goldline||$125||$60-$250 (scaled)||$100 (scaled)||Scaled|
|Rosland Capital||$50||£225||Not divulged||Flat|
*Fee Type explained
Flat fees are always the same amount irrespective of the value of your retirement fund. Scaled fees are calculated as a percentage of your fund and therefore increase as your fund grows. Flat fees are the preferred option for most investors as they nearly always work out less over time.
Goldco Analysis: FAQ
Based on some of the pertinent information we discovered when researching into Goldco, particularly the most common topics discussed by their customers, we have compiled the following Q & A:
Is there a minimum investment level for a Goldco Precious Metals IRA?
What Precious Metals do Goldco provide?
Gold, silver, platinum and palladium
Can I add precious metals that I already own to a Goldco IRA?
No, the precious metals included in a Goldco Precious Metals IRA have to be purchased through Goldco
Do Goldco provide their own custodian and storage services?
No, but they will help customers to set up such services through their recommended strategic partners with whom they have strong working relationships
Do I have to use Goldco’s recommended custodian and depository or can I choose my own?
You have the option to choose your own
What types of retirement accounts can I rollover into a Goldco Precious Metals IRA?
What types of gold can I include in a Goldco Gold IRA?
American Eagle Proof
Australian Saltwater Crocodile
Royal Mint Gold Lunar Series coins
What types of silver can I include in a Goldco Silver IRA?
American Eagle Proof
Australian Saltwater Crocodile
Royal Mint Silver Britannia Lunar Series coins
Silver World War I
Silver World War II Victory
How long does the process take to open a Goldco Precious Metals IRA?
2 to 3 weeks on average
How long does it take to rollover a Traditional IRA into a Goldco Precious Metals IRA?
Usually approximately 2 weeks, but Goldco do stress that it is very much case by case
Do Goldco sell precious metals without a Gold IRA?
Yes, they will sell you gold and silver and deliver it to your nominated destination
Is it true that Goldco give new IRA customers free silver?
Yes. As a Special Promotion they give customers who open a new IRA 5-10% back in FREE silver (5% on $50k-$100k investments, 10% on investments of $100k+ with no maximum)
Will Goldco buy back my metals when I want to liquidate?
Yes, in fact Goldco urge their customers to give them first refusal as they have a dedicated Buy Back Program and Department. Many customers have reported that their prices are reasonable and competitive
Goldco Reviewed: Pros and Cons
|Goldco Pros||Goldco Cons|
|Highest Percentage of Positive Customer Reviews (93%)||No Custodian and Storage Services (However They Will Help Customers Set Up Such Services Through Their Recommended Partners)|
|Exceptional Customer Service With Highly Qualified Staff||You Can’t Add Gold or Silver You Already Own to Your Goldco IRA|
|Ranked Among the Top 3 Precious Metals Companies By Multiple Sites||Combined Gold/Crypto IRA Not Offered (Although They Have a Sister Company, Coin IRA which offers Crypto IRAs)|
|Their Gold IRA Process is Streamlined, Quick and Easy. They Complete All The Paperwork For You||No International Sales – U.S Only|
|They Treat Each Customer As An Individual. Their Expert Advisors Evaluate Your Circumstances, Objectives and Retirement Goals Before Making Any Recommendations|
|You Can Have Unlimited Phone Consultations|
|They Provide First Class Educational Resources|
|They Have Top Ratings On The Major Review Portals|
|Low (Flat) Annual Fees|
|Competitive Buy Back Program With Dedicated Staff|
|They Give Up To 10% In Free Silver To Qualifying Accounts (To New IRA Customers: 5% on $50k-$100k investments, 10% on investments of $100k+ with no maximum)|
Goldco Analyzed: Who Are They Best Suited For?
- Those who wish to invest in precious metals, either within or outside of an IRA
- Those who are concerned about economic uncertainties, market volatility, the government printing more and more money, rising inflation, the ever increasing National Debt, devaluation of the US dollar… and they wish to protect their wealth from any or all of these
- Those who are nearing retirement age and don’t want to spend their twilight years forever fearful of financial crises which could cause their pot to run dry
Goldco’s precious metals IRAs offer a tax-advantaged investment vehicle for investors who wish to save for retirement, in the same way that traditional and Roth IRAs do.
Goldco Compared: Should You Choose Them?
Yes, 100%. Whether you want to safeguard your retirement investments with a Gold IRA or invest in precious metals directly, based on extensive research our conclusion is that
Goldco are the ‘Go To‘ Company.
Your retirement investment portfolio, including IRAs, is there to keep you going for many years after you stop working and therefore changes to these should always be carefully thought through. Mistakes could be very costly.
Goldco has a wealth of experience in precious metals, precious metals IRAs, retirement planning and IRS regulations. This experience enables them to help investors make informed decisions when it comes to planning for their retirement.
If you are considering including precious metals in your retirement portfolio there are many Gold IRA Companies to choose from.
Having compared them with other leading Gold IRA Companies we consider that Goldco have outshone the competition.
They tick all the boxes when it comes to their reputation, ratings, customer service and the amount of happy customers that they have.
How To Speak With a Goldco Representative
- The easiest way to speak with a Goldco representative is to request their FREE GOLD IRA KIT. Just fill in the form on their website which simply asks for your name, email and phone number.
- Once you submit the form one of Goldco’s friendly Gold IRA and Retirement Planning experts will call you to check your mailing address for the Kit and to answer any questions that you might have. Make sure that you leave the best ‘phone number for them to reach you on therefore.
If you submit the form outside of business hours Monday thru Friday or at weekends they will contact you the next working day.