Goldco Review
Goldco is a precious metals investment company that was founded in 2006 by Trevor Gerszt. Over the years, the company has grown to become a leading provider of precious metals investment services in the United States. The company’s headquarters is located in Woodland Hills, California, but it has a nationwide presence with clients in all 50 states.
Goldco has received several awards and recognitions for its exceptional services, including an A+ rating from the Better Business Bureau and recognition as one of the “Best Places to Work” by the Los Angeles Business Journal. The company has also been listed on the Inc. 5000 list of fastest-growing private companies in America. Such accolades are a testament to Goldco’s commitment to providing clients with the best possible precious metals investment experience.
Goldco’s reputation has also been bolstered by the endorsements it has received from notable figures, including former U.S. Representative Ron Paul. These endorsements have helped to solidify the company’s reputation as a trustworthy and reliable precious metals investment firm. As such, investors can trust that their investments with Goldco are in good hands.
Types of Accounts (IRA or Direct purchase)
Goldco offers two primary services for investing in precious metals: a gold or precious metals IRA and direct purchase of precious metals.
A gold or precious metals IRA allows investors to hold physical precious metals in their IRA accounts, providing a hedge against inflation and market volatility. The process of investing in a precious metals or gold IRA is similar to that of a traditional IRA. The investor will select the desired precious metals, fund the account, and select a depository to store the precious metals. The IRS sets strict guidelines on which types of gold coins and bars can be held in a gold IRA.
On the other hand, direct purchase of precious metals is an investment made outside of a retirement account. Investors can purchase physical precious metals, such as gold, silver, platinum, and palladium, outright from Goldco. Direct purchase of precious metals offers investors the flexibility to buy and sell precious metals at their discretion, without the need for a custodian or depository.
By offering both types of accounts, Goldco caters to a wide range of investors with different investment needs and goals.
Steps to Open an Account
Opening an account with Goldco is a straightforward process that can be completed online or over the phone. The following is a step-by-step breakdown of how to open an account with Goldco:
Step 1: Contact Goldco. You can visit their website or call their customer service line to speak with an investment representative.
Step 2: Consult with an investment representative. The investment representative will guide you through the investment process and help you determine the best investment strategy for your goals.
Step 3: Complete the necessary paperwork. Once you have decided on the investment strategy, you will need to complete the necessary paperwork. This may include a new account application, transfer forms, or contribution forms.
Step 4: Fund your account. You will need to fund your account before purchasing precious metals. You can fund your account via wire transfer, check, or rollover from an existing retirement account.
Step 5: Choose your precious metals. The investment representative will help you select the best precious metals to meet your investment goals. Goldco only offers IRS-approved precious metals for IRA accounts.
Step 6: Choose a depository. If you are opening a gold or precious metals IRA account, you will need to select a depository to store your precious metals.
By following these simple steps, investors can easily open an account with Goldco and start investing in precious metals.
Types of Gold Allowed for IRA
When investing in a precious metals or gold IRA with Goldco, it is important to understand which types of gold are allowed for IRA accounts. The Internal Revenue Service (IRS) has set strict guidelines on which types of gold coins and bars can be held in a gold IRA.
Gold coins allowed for IRA accounts must be 24 karat (99.99% pure) and produced by a government mint. Examples of government-minted coins that meet these requirements include the American Gold Eagle, Canadian Gold Maple Leaf, and Australian Gold Kangaroo.
In addition to government-minted coins, certain bars produced by approved refineries are also allowed for IRA accounts. The bars must be at least 99.5% pure and produced by a refinery listed on the Commodity Exchange, Inc.’s (COMEX) approved list. Examples of approved refiners include Johnson Matthey, Credit Suisse, and PAMP Suisse.
It is important to note that not all types of gold are allowed for IRA accounts. Examples of gold coins and bars that are not approved for IRA accounts include collectible coins, numismatic coins, and bars produced by non-approved refineries.
By working with Goldco, investors can rest assured that the gold they hold in their IRA accounts meets IRS guidelines and is approved for investment in a gold or precious metals IRA.
Depository Info
When investing in a gold or precious metals IRA, the precious metals must be stored in an IRS-approved depository. Goldco has partnered with several depositories across the United States to provide secure storage for its clients’ precious metals.
Depositories used by Goldco are equipped with state-of-the-art security measures to ensure the safety and security of the precious metals. These measures include 24/7 surveillance, armed guards, and strict access controls.
Depositories are also fully insured against loss or damage, providing additional peace of mind for investors.
Goldco’s depositories are located across the United States, making it easy for investors to access their precious metals if needed. Depositories are typically located in major cities like New York, Los Angeles, and Chicago. Investors can choose the depository location that is most convenient for them.
Goldco charges an annual storage fee for precious metals held in its depositories. The fee is based on the value of the precious metals and covers the cost of storage, insurance, and maintenance. The fee is competitive with other precious metals investment firms and is a small price to pay for the peace of mind that comes with secure storage of precious metals.
In summary, Goldco’s partnership with secure and insured depositories across the United States ensures that clients’ precious metals are stored safely and securely, providing peace of mind and protection against market volatility and inflation.
Final Thoughts
In conclusion, Goldco is among the biggest gold IRA companies that offers investors the opportunity to invest in physical precious metals through a gold or precious metals IRA or direct purchase of precious metals. The company has received numerous accolades for its services and has received endorsements from several notable figures, including former U.S. Representative Ron Paul. Goldco offers a wide range of precious metals, including gold, silver, platinum, and palladium, and partners with highly secure depositories for the safe storage of investors’ precious metals. By investing in precious metals with Goldco, investors can protect their retirement savings against inflation and market volatility.