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Personal Finance Gold

Goldco Review: Gold and Silver IRAs

Updated Oct 20, 2023   |   5-min read

Goldco logo
on Goldco’s website
Editorial Rating

Editorial Rating

What we like:

Best for customer support

What’s offeredPrecious metals IRA & coins and bars
Annual fees$260 for the first year
$180 each year after
BBB ratingA+
Trustpilot rating4.8/5
See how Goldco compares to other gold IRA companies

BBB and Trustpilot rating checked on March 15, 2021.

Goldco specializes in gold and silver IRA retirement accounts and has been operating since 2011. The company can help you both open your IRA and purchase the gold and silver you wish to invest in.

Of course, Goldco is just one of the many precious metals IRA firms out there. Use this guide to see if it’s the right fit for you.

In this review:

What does Goldco offer?

Goldco offers precious metals IRAs, as well as various IRS-approved gold and silver coins.

Precious metals IRAs

Gold and silver IRAs are Goldco’s bread and butter. They can help you open these accounts, fund them with a rollover from other retirement accounts, and then purchase the best-fitting investments. They can also point you toward an approved depository where you can store your metals.

In order to open an account, you’ll need at least $25,000.

Silver and gold coins

According to IRS rules, you can only purchase metals of a certain purity with an IRA. Goldco offers various IRS-approved silver and gold coins, and its investing specialists can help you make the best purchases for your goals.

How much does Goldco cost?

Goldco does not disclose its pricing publicly, but a chat with a customer service representative did confirm there are set-up and annual fees. The first-year cost, including set-up fees, is $260. After that, the annual fee is $180.

Additionally, Goldco requires a minimum investment of $25,000.

Customer ratings

Not all gold IRA companies are created equal. In fact, scams are common in this industry. To be sure you’re steering clear of these scams, as well as getting the best service and investment guidance, it’s important to compare your options thoroughly. Customer ratings and reviews can help in this.

As you can see below, Goldco reviews are positive across all rating platforms. Ratings were checked on March 15, 2021.

SourceRating
Better Business BureauA+
Trustpilot4.8/5 stars
Google4.7/5 stars

Where does Goldco store my precious metals?

Goldco doesn’t actually store your metals directly, but they do have relationships with a variety of secure depositories across the country. Your investing specialist will direct you toward the best depository for your needs.

Can I see how my precious metal investments are performing?

There doesn’t appear to be any customer dashboard or other way to monitor performance directly through Goldco. The company does, however, use Equity Trust and Self Directed IRA as its custodians. Both of these appear to have customer dashboards you can use to check in on your investments.

How to open an account

Goldco’s investing specialists can walk you through the process of setting up your account, but generally, it will look something like this:

1. Choose your IRA

You can opt for a traditional self-directed IRA or a self-directed Roth IRA. The best choice typically depends on how you’ll be funding the account. (If you’re rolling over funds from a Roth IRA, a self-directed Roth account is likely best.

2. Determine your funding source

Figure out how you’ll fund your new account. Most investors use funds from other retirement accounts, like IRAs, 401(k)s, and 403(b)s. You’ll simply roll over a portion or all of your funds into your new account.

3. Choose your custodian and fill out the paperwork

You’ll next need to choose your gold IRA custodian. If you use Goldco, these will automatically be either Self Directed IRA Services or Equity Trust, the company’s preferred custodians. Once you fill out the custodian’s paperwork, you can establish your IRA account and begin investing.

4. Fund your new account

Next, it’s time to fund your new account. If you’re rolling over funds, you can request the transfer by contacting your current 401(k) or retirement account holder. You may want to speak to a tax advisor first to be sure you’re in line with IRS rules and minimizing your tax liabilities.

5. Buy your metals

Finally, you’ll choose the approved gold and silver you want to buy. Goldco’s investing specialists can help you pick the right metals for your portfolio, as well as coordinate the purchase, shipping, and storage of your investments.

Pros and cons of Goldco

As with any company, Goldco has its pros and cons. Make sure you consider both before deciding where to open your gold IRA account.

Pros

  • Great reviews and ratings

  • Allows you to open an IRA and buy metals in one place

  • Many helpful online resources to learn from

Cons

  • High minimum investment

  • No publicly available fees or prices

How can I withdraw from my account?

Though you can technically withdraw funds from your gold IRA at any time, you will owe a 10% penalty if doing so before age 59.5. After you hit 59.5, withdrawals are tax-free.

By age 72, you’re required to start taking minimum distributions, per IRS rules.

Where to find Goldco alternatives

Goldco can help you both open your account, fund it, and purchase your gold and silver investments. Keep in mind, though: It’s not your only option. There are many precious metal IRA companies out there, so be sure to compare your options if you want the best service and rates. Use our gold IRA guide to get started.

How we rated Goldco

Our rating for Goldco was determined by reviewing our partners based on several factors. These factors included BBB rating, Trustpilot rating, annual fees, educational resources, customer support, and collection of precious metal coins and bars.

Once a score was assigned, we then identified where each company stood out amongst its competitors to create our picks for what each company was the best for.

Ready to learn more about Goldco? Visit its website.

  • What’s offered: Gold & silver IRAs and coins
  • Annual fee: $260 for the first year and $180 each year after that
  • BBB Rating: A+
  • Benefits: Can help you open your precious metals IRA, as well as purchase IRS-approved coins