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Company information
Interested in gold or silver investing but don’t know where to start well here we’ve got your back this time we reviewed Goldco. what is Goldco? One of the most popular names when it comes to precious metals is IRA. Today we’ll help you decide whether this service is right for you or not.
Goldco is a company based in California and since 2006 gold has helped investors roll their retirement savings into a self-directed IRA containing gold or silver bullion provided they have at least twenty-five thousand dollars to open an account.
Goldco was founded by entrepreneur Trevor Gerst a South African immigrant to the United States who grew up with a fascination for collectible coinage after a career in the real estate market Trevor pivoted to precious metals. Trevor started Goldco to provide investors with unique, low-mintage coins that would help them diversify their holdings.
Why Goldco?
With Goldco investors can only purchase eligible metals from their exclusive catalog. In our books this is a major downside the upside however is that you don’t have to vet your gold bullion to ensure it meets the IRA criteria. Goldco takes care of that for you.
The catch is that you can only pick the bullion they sell at whatever prices they demand.
what is Goldco Pricing
Goldco isn’t the most competitive or transparent after scheduling a sales call we found out that Goldco charges 175 dollars annually which increases to 225 annually after crossing the hundred thousand dollar threshold. However, they reimburse one year of storage fee at twenty-five thousand dollars invested in the form of like-value silver bullion deposited directly into your vault.
Goldco IRA
Already have precious metals in an IRA? Well, unfortunately, you’re out of luck with Goldco. Any assets added to your gold coal IRA have to be purchased through Goldco.
Reviews
One of the upsides of Goldco is that it’s widely trusted and well-reviewed for example goldco has over 200 positive reviews on trust links and an A-plus rating from the Better Business Bureau. so if you’re a collector you’re in luck goldco occasionally lists exclusive gold and silver coinage you can’t find anywhere else like the 20th anniversary Silver Britannians.
Account Setup
Setup an account with Goldco is relatively easy and involves no physical paperwork.
After contacting Gold co you will have a call with the sales rep scheduled for the same day and they will get documents ready for you for e-signature.
surprisingly Email support team didn’t respond to us for our urgent quarry for 40 hours which is significantly slower than some of their competitors.
BuyBack Guarantee
Their buyback guarantee is absolutely incredible. if you want to sell your gold or silver their buyback program is incredible you can get out of it and you can invest in something else like maybe you want an annuity maybe you want to divot in stock. maybe you made a lot of money on the gold and silver their buyback program is absolutely incredible.
Flaws
Goldco has four main flaws –
- Many restrictions on the type of precious metals you’re allowed to add to your account.
- High minimum deposit of $25,000.
- Lack of transparency regarding account fees and charges.
- They only carry gold and silver bullion. Which leaves out other precious metals.
Conclusion
In our opinion, gold might be worth a shot if you’re a hand-off investor specifically interested in a precious metal IRA company that handles it all for you and isn’t, too concerned about their limited coin selection.
We highly recommend that you request their free investment kit to get a better idea of their products’ prices and promotions
We also recommend that you call them and ask about their prices and fees.
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