Goldco is a trusted precious metals dealer with a reputation for dedicated customer support and quality service. Its education-forward approach to gold investing, lack of minimums, and user-friendly interface make Goldco a good match for beginners.
Business Insider's personal finance team compared Goldco to the best gold IRAs. We found that Gold has many standard benefits common to other precious metal retailers but with a much lower price tag, as there is no minimum on gold IRAs.
Pros and Cons
Goldco Pros
- Buyback guarantee offer
- No minimums on Gold IRAs
- Bonus offer for free silver if minimums are met
- Robust customer service
- BBB-accredited business
Goldco Cons
- No option for a free storage waiver
- Only coins are offered on the site. Other options are available but more difficult to access without calling a representative.
Open an Account
None
Call company representative for more information
- Gold and silver IRAs
- Supports rollovers for 403(b)s, thrift savings plans, savings accounts, and IRAs
- You can request to have gold directly delivered to you
- You can either receive distributions as physical gold, or have Goldco convert the gold into cash for you
- No mobile app
Goldco is one of the best gold IRAs. It offers gold self-directed IRAs, as well as silver IRAs.
GoldcoCompare Goldco
Free Gold Investing Guide, $246 per year, flat rate fee for Gold IRAs.
- All American Assets lists its inventory and pricing online without having to speak to a specialist
- Annual subscription fee
- Offers free shipping and insurance
- Ability to roll over a 401k, IRA, or Annuity into Physical Gold & Silver
- Offers 24/7 customer service
- $246 flat rate yearly fee
$20,000
$50 set up fee and an annual $125; storage costs between $100 to $175 annually
- History of reputable customer support
- Guidance on IRA rollovers
- One year of free storage and no administration fees ($50,000 minimum to unlock)
- You can only purchase precious metals over the phone
- Platinum and palladium assets not listed on website
$5,000
One-time $280 setup fee and $200 annual fee; free set-up and storage for certain users investing in limited mintage coins
- Gold IRAs and silver IRAs available
- Free IRA set-up and storage (for qualifying purchase amounts of limited mintage coins)
- Offers precious metal analyzer, portfolio comparison calculator, inflation calculator, and more
- Mobile apps for iOS and Android devices
- High set-up fees
Lear Capital offers both an IRA gold investment and silver IRA option, and you can take advantage of free IRA setup and storage
Goldco Overview
Goldco's IRA minimum is not just low; it is nonexistent, which is unusual for the industry. Goldco is best for beginners and those with smaller account balances who can't meet the high account minimums required by other precious metal dealers.
Alternative investments like gold and silver help diversify your retirement portfolio, but consider balancing precious metals with more traditional options like a 401(k) or supplementing a traditional IRA.
Investors receive real-time price updates on precious metals, detailed educational resources, and a large selection of investable gold and silver coins and bars. While our review mainly focuses on Goldco's IRA offerings, investors can buy precious metals directly, also for no minimum.
Goldco's website is straightforward and easy to navigate, but finding information on fees and minimums is difficult. You can direct your questions to the live online chat box, but you must input your name, email, and phone number before reaching a representative.
Goldco's customer service representatives are quick to respond and provide detailed and informative responses to customer inquiries.
The company stands out for its buy-back guarantee, which reassures customers that they will receive their gold and silver assets at the highest price for greater liquidity. Goldco is also unique because it offers multiple options for investors to select which custodian fits their needs.
Ways to Invest with Goldco
There are three steps to open an account with Goldco:
- Complete the IRA account agreement
- Fund your account by writing a check or sending a wire payment. However, using an existing retirement account to roll over is encouraged and typically does not result in a taxable event.
- Purchase your metals. The entire process takes between five to 10 business days.
Goldco Precious Metals IRA
A Precious Metals IRA with Goldco allows you to purchase gold and other precious metals while benefiting from the tax advantages of a Roth IRA or Traditional IRA, depending on which type of IRA you open with Goldco.
Once you have opened an account, you will have the option to fund the account with cash to buy the metals, or you can roll over your money from another investing account such as a 401(k), 403(b), Thrift Savings Plan (TSP), or IRA. Any item you purchase will be kept in a secure facility with a third-party depository.
Buying Physical Gold with Goldco
Goldco helps customers buy and sell gold that can be shipped and held directly at their homes if the metals are purchased with a savings or cash account.
The Goldco website features dozens of gold and silver coins. Still, its selection does appear smaller and less diverse than other comparable companies that offer gold and silver bullion, bars, and other metals such as platinum.
Goldco's Bonus Offer
Most companies in this sector will offer new customers discounts and benefits if you can meet a certain deposit level. Goldco offers bonus silver for qualified purchases. For an IRA, investors can earn back 5% to 10% in silver with a deposit of $50,000 and up.
Goldco IRA Fees
It is common for precious metal companies to charge several fees associated with opening an account and transactions. Fees are not listed on Goldco's site, and you will need to call a Goldco representative to get an idea of all the costs and promotions.
Goldco charges a $275 setup fee for the first year, which includes the custodial and unlimited storage fee, purchasing processing fees, and wire fees. The second year costs $225. You will pay an additional $50 each year if you store your IRA-eligible precious metals with the Texas Depository.
Goldco is unique because its IRA has no minimum deposit, and there is no minimum to buy gold or silver directly. Goldco does not charge a commission on purchases.
Goldco Trustworthiness and Security
Goldco is a trustworthy and secure precious metal dealer offering government-approved precious metals. Goldco's depository options include the Delaware Depository and the Texas Depository. Both private depositories are IRS-approved and fully insured by Lloyd's of London.
Goldco's years of experience have resulted in credentials that include a Trustpilot score of 4.8 and an A+ rating from the Better Business Bureau. Goldco is also BBB-accredited, which means it upholds the Bureau's Standards of Trust, including transparency, integrity, and responsiveness.
Goldco has not been part of any lawsuits or scandals in the last couple of years.
Goldco Alternatives
Goldco is a reputable company in the precious metals industry. However, it is always wise to compare different companies before deciding on which one to invest in.
Goldco vs. American Hartford Gold
American Hartford Gold shares many similarities to Goldco, even down to its marketing tactics. Both sites prominently feature celebrity endorsements, free downloadable guides in exchange for your contact information, and customer reviews. The two companies both tout their respective status on the Inc. 5000 list.
The primary difference that investors will see is in the fees and minimums. AHG charges a one-time $230 application fee and $200 annual fee for storage, insurance, and custodian services, plus a $10,000 minimum to start an IRA, compared with just $50 to set up an account with Goldco and no minimums.
Goldco vs. Birch Gold Group
Birch Gold Group is a California-based precious metal retailer that, like Goldco, offers retirement accounts and physical delivery of gold, silver, platinum, palladium, and more.
When comparing the sites, Birch presents more diverse products to customers, like bars, coins, and rounds. Goldco's website primarily offers coins, but when speaking with representatives, there is a broader array of options. Goldco is more accessible for those who can't meet Birch's $10,000 minimum.
Why You Should Trust Us: How We Reviewed Goldco
We evaluated Goldco using Insider's methodology for rating investing platforms. We examined fees, account options, customer service experience, and investment selection and rated them on a scale of 1 to 5. Some investing platforms are better suited for more advanced investors, while others cater to newcomers. Goldco was examined with a focus on how it performed in each category.
Business Insider's Goldco Rating
| Feature | Our rating (out of 5) |
| Liquidity | 4.50 |
| Customer Support | 5.00 |
| Security | 5.00 |
| Ethics | 5.00 |
| Access | 4.00 |
| Fees | 4.50 |
| Investment selection | 4.00 |
| Overall rating | 4.47 |
Goldco IRA FAQs
Is Goldco a legit company?
Yes. Goldco is a legitimate and trustworthy company. It has several independent reviews and has been highly ranked by a number of publications and services.
What does Goldco do?
Goldco is a precious metals company that specializes in helping investors protect their retirement savings through investing in gold, silver, and other precious metals.
What is the minimum investment in Goldco?
Goldco has no minimum investment requirements for gold IRAs and direct precious metal purchases. Previously, Goldco had a $25,000 minimum requirement for IRAs.
How long has Goldco been in business?
Goldco was founded in 2006 and is headquartered in Los Angeles, California.
