Goldco Review 2024 : Goldco Precious Metals IRA Review

2024 Goldco Review: A Reliable Partner for Your Financial Goals

At USMintGold one of our personal favorite Gold IRA companies is Goldco hence why we took the time to write up this Goldco Review. They generally stand out from the pack due to the amount of trust, reliability and costs.

Goldco, established over a decade ago by Trevor Gerszt, is an investment company that strives to assist each investor in making sound financial decisions to set them up for a successful retirement and future financial stability. Goldco is dedicated to providing its customers with expert guidance to help them roll over existing retirement savings accounts, set up new Precious Metals IRAs, or purchase gold and silver coins and bullion for personal collections or investments. 

What is Goldco?

Goldco has a proven track record of providing exceptional service to its customers. The company has earned an A+ rating from the Better Business Bureau and a Triple A rating from the Business Consumer Alliance, demonstrating its commitment to transparency, customer satisfaction, and ethical business practices. In addition, Goldco has received high ratings on various review sites like Trustpilot and Google, indicating that its customers are delighted with its services. With its excellent reputation and satisfied customer base, Goldco is a trustworthy partner to help you invest in gold and silver with confidence.

10 Reasons Why Goldco Precious Metals is Our Top Recommendation Among 100+ Companies for 2024!

Goldco precious metals stands out among its competitors, and for a good reason. Here are the top ten reasons why we consider Goldco our number one recommendation for precious metals investment:

• 1,000+ 5-Star Reviews
• Over $1 BILLION In Retirement Savings Protected
• A+ BBB Rating
• 5x Inc 500 Winner
• 2021 Company of the Year
• AAA Customer Rated
• Buyback program
• Simple IRA & Cash Transactions - Get Started In 15 Minutes Or Less
• The Best Bonuses & Promotions In The Business

Current Goldco Promotions

• Goldco Promotions offers a dollar-for-dollar match of up to 10% of your order in free silver. For example, you could receive $10,000 worth of free silver if you place a $100,000 order. 
• Goldco Promotions has the highest buyback guarantee. Goldco's buy back program allows for you to sell your gold and silver products back to the company at their initial price.

Exploring the Benefits of Gold and Silver IRAs with GoldCo

There are numerous compelling reasons to explore opening a Precious Metals IRA or rolling over an existing retirement account into one.

Diversification:

Placing all your investments in the stock market can increase your vulnerability to economic downturns or crashes. In contrast, diversifying your portfolio by investing in gold and silver can help mitigate the impact of market downturns since you can rely on your precious metals investment during such times.

In general, the value of gold and silver tends to increase when the stock market is underperforming, making them a viable option for diversifying an investment portfolio. By including precious metals in your portfolio, you can safeguard against market volatility, as at least one aspect of your investments should remain profitable during these times.

Intrinsic Value:

Moreover, gold and silver have a long-standing reputation for holding their value over time. As highly sought-after, limited-supply precious metals, they offer a range of uses, from jewelry-making to manufacturing new technology, making them a versatile and valuable investment.

Liquidation:

One significant benefit of investing in gold and silver is the ease with which you can liquidate your investment when you need to, such as when you are ready to retire. Due to the high demand for precious metals, finding a buyer and receiving immediate cash should be easy. This contrasts with investing in real estate, which may be less readily liquidated.

Why Choose Goldco for Investing in Precious Metals

Goldco specializes in setting up Gold and Silver IRAs, which offer tax benefits similar to traditional IRAs. These benefits include deferring taxes and qualifying for the Retirement Savings Contribution Credit, which enables partial yearly contribution deductions. Furthermore, Precious Metals IRAs allow transfer to beneficiaries without imposing inheritance taxes upon the account holder's passing.

Investing in a Gold or Silver IRA with Goldco offers a unique opportunity to secure retirement savings with precious metals rather than traditional stocks and bonds. Diversifying your portfolio with gold and silver protects your investments from market volatility and provides significant tax advantages associated with IRAs. By holding your retirement savings in precious metals, you can rest easy knowing tangible assets back your financial future with a proven track record of long-term value.

Goldco is proud to hold and maintain excellent customer ratings:

• A+ from the Better Business Bureau
• AAA rating by the Business Consumer Alliance
• 200+ 5 Star Reviews on Trustlink
• 9.7 out of 10 Rating on Trustpilot

Gold and Silver IRA Set-Up Process

Setting up a Precious Metals IRA with Goldco is a straightforward process you can easily accomplish.

Step 1: Visit Goldco website

Step 2: Request a Starter Kit (photo of sign up form to the right). For Goldco you are required to enter first and last name, email, and phone number to request your Starter Kit.

Step 3: After requesting a Starter Kit, a Goldco precious metals specialist will call you. I received my call within an hour. My husband requested a starter pack on a weekend and didn't receive a call until Monday. So, if you request this over the weekend, expect a call the first business day after.

Goldco Starter Kit Call

TOTAL CALL TIME: 6 minutes

1. Answer Call
2. Goldco precious metals specialist  will talk through a few high level benefits of Gold and Silver IRAs and the general economy outlook
3. Questions they ask you:

• Why are you looking at Gold or Silver IRAs?
• Is your 401k, Roth, IRA etc with a current or past employer?
• If it is with a current employer, you cannot transfer without tax penalties until you are 59+
• If it is with a past employer, what is it mostly comprised of? - Stocks, bonds, etc?

4. Precious metals specialist talks through the pro's of investing in gold and silver right now

5. Precious metals specialist asks if they can set up a call with a Sr. Precious metals specialist to provide the Starter Kit and more specific details around account set up.

• I scheduled a call with the Sr. Precious metals specialist, but also asked for the Starter Kit/educational materials in the meantime. I highly suggest you request the same to allow yourself time to review all the material available.

Step 4: Check your email for Starter Kit and Educational material

What's Included in the Goldco Starter Kit?

You will receive an email from the Precious metals specialist you spoke with at Goldco with a link to access your Starter Kit. The Starter Kit is a link to their Resource Library. This is jam packed full of useful educational material including:

• The Essential Guide to Financial Security Audio and Guidebook
• The Essential Guide to Financial Security Video
• 9 ebooks - All around 10-15 pages long

Step 5: Goldco can help you roll over your current IRA or retirement account into a Gold or Silver IRA. Determining whether or not your account is eligible for a rollover can be confusing since not all account types qualify. 

Accounts that are eligible to be rolled into a precious metals IRA are:

• Traditional IRA
• Roth IRA
• SIMPLE IRA
• SEP IRA
• Eligible 401(k), 403(b), 457, TSP, and more
• How much is in the account you want to transfer?

Goldco Eligibility Criteria

If you need clarification on your eligibility, visit Goldco's website to see the criteria for rolling over a retirement account into a Precious Metals IRA. Additionally, if you have any further questions regarding your eligibility or the rollover process, Goldco's team members are available to assist you. Your Precious metals specialist you speak with can serve as a valuable resource throughout this process for any questions you may have.

The great thing with a rollover is that you can maintain the same tax benefits as your current account while diversifying your portfolio.

Step 6: Once your account is funded, it's time to choose which gold or silver investments you want to include. Goldco's team of experts is on hand to guide you through your options and help you make informed decisions based on your unique needs, financial situation, and goals.

As you consider which precious metals to hold in your account, take a moment to consider your preference for coins, bars, or a combination of both. While bars are a popular choice due to their solid gold composition and availability in different sizes, gold or silver coins may be a better fit for your investment strategy. With Goldco, you can customize your Precious Metals IRA to meet your specific retirement goals.

The weight of a gold or silver bar and the current market price of the precious metal determines its value. On the other hand, coins can fetch more than their intrinsic value based on factors such as rarity and demand.

However, IRS regulations limit the type of gold or silver coins and bars that can be held in an IRA. Gold coins or bars must be at least 99.5% pure, while silver coins and bars must be at least 99.9% pure. Despite these restrictions, Goldco provides a diverse selection of gold and silver coins and bars that can be added to a Precious Metals IRA. You can choose from various options, including:

Gold options for a precious metals IRA

The following are some examples of gold coins and bars that you can add to a Precious Metals IRA:

• Gold American Eagle Coin
• Gold American Bald Eagle Coin
• Gold American Eagle Proof
• Gold Buffalo Coin
• Gold Australian Saltwater Crocodile Coin
• Gold Lucky Dragon Coin
• Gold Maple Leaf Coin
• Royal Mint Gold Lunar Series: 2016-Year of the Monkey Coin
• Royal Mint Gold Lunar Series: 2017-Year of the Rooster Coin
• Royal Mint Gold Lunar Series: 2018-Year of the Dog Coin
• Royal Mint Gold Lunar Series: 2019-Year of the Pig Coin
• Perth Mini and PAMP Suisse Gold bars in 1 oz, 5 oz, 10 oz, 100 oz, and other sizes.

Silver IRA Coins

The following are examples of silver coins and bars available for purchase through Goldco:

• Silver American Eagle Coin
• Silver American Eagle Proof Coin
• Silver Australian Saltwater Crocodile Coin
• Silver American Bald Eagle Coin
• Silver World War I Coin
• Silver WWII Victory Coin
• Silver Lucky Dragon Coin
• Silver Maple Leaf Coin
• Royal Mint Silver Britannia Lunar Series: 2015-Year of the Ram Coin
• Royal Mint Silver Britannia Lunar Series: 2016-Year of the Monkey Coin
• Royal Mint Silver Britannia Lunar Series: 2017-Year of the Rooster Coin
• Royal Mint Silver Britannia Lunar Series: 2018-Year of the Dog Coin
• Royal Mint Silver Britannia Lunar Series: 2019-Year of the Pig Coin
• Perth Mini and PAMP Suisse Silver bars in 1 oz, 5 oz, 10 oz, 100 oz, and other sizes

Step 7: You can make yearly contributions to your Gold or Silver IRA. The maximum annual contribution for individuals below 50 is $6,000 without incurring penalties. Meanwhile, individuals above 50 can contribute up to $7,000 yearly without penalties. However, it is essential to note that these figures represent the maximum combined total you can invest in your retirement accounts. Thus, if you have other IRAs, you cannot invest $6,000 or $7,000 in each account annually.

Goldco IRA Withdrawals

Withdrawals: According to IRS regulations, you must be 59 ½ years old to withdraw funds from any IRA. If you cancel before this age, you will incur a 10% fee and income taxes on the funds withdrawn.

Precious IRA Storage Metals

According to IRS regulations, an IRS-approved storage facility must store gold and silver in a Precious Metals IRA. Goldco can assist you in setting up secure storage at one of these approved facilities when you establish a Precious Metals IRA with them. In addition, Goldco will securely ship your precious metals to the depository, which can alleviate some of your concerns.

Once you reach retirement age and are ready to start receiving disbursements from your account, you can either receive cash or have physical coins or bars sent to you.

Other Investment Options

Goldco can assist you with personal investments in gold or silver, either as an alternative or in addition to setting up a Precious Metals IRA. They directly sell a variety of gold and silver coins and bullion that you can choose to hold at your home or set up secure storage elsewhere.

If you want to explore these options further, fill out the form on the 'Contact Us' page, and a team member will contact you to provide more information about the different investment options available.

Goldco Investor Resources

Goldco's website provides valuable resources for investors looking to make informed decisions about their retirement investments. By clicking on the 'Resources' tab, you can access a range of sections dedicated to helping you prepare for retirement.

Real-time precious metal prices

One such section offers real-time precious metals prices, which can assist you in monitoring trends and deciding when to invest. You can also use this information to gauge the performance of your investments and determine whether they are increasing or decreasing in value based on the current prices compared to your initial investment. Keeping an eye on precious metals prices can be crucial in making strategic investment decisions.

The website also provides various eBooks, videos, and FAQs to educate customers on investing successfully in gold and silver. The eBooks available for download cover topics such as the American IRA & 401k Crisis, Retirees Guide to IRA & 401(k)s, How to Buy Gold and Silver, 10 Reasons You Should Start a Gold IRA, and 10 IRA & 401k Mistakes You are Making. The video topics include How to Open a Gold IRA, Why Buy Gold, Stock Market Crashes, 5 Reasons to Roll Over Your IRA to Gold, and Can You Trust Mega Banks? These resources can help investors make informed decisions and feel confident in their investments.

Get Your Free Self-Directed IRA Guide with Goldco

Goldco provides a valuable Self-Directed IRA guide to assist prospective investors. The guide highlights the advantages of investing in precious metals and provides information about the different coins and bars that can be included in an IRA. The guide offers step-by-step guidance on setting up an IRA and investing in precious metals.

Goldco IRA Features

• Diversify your investment portfolio with Gold or Silver IRAs from Goldco.
• Earned an A+ rating from the Better Business Bureau and a Triple A rating from the Business Consumer Alliance.
• Gold and silver hold their value well and can be easily liquidated.
• An experienced team is available to assist whenever you need help.
• Excellent selection of gold and silver coins and bars for investment.
• Request a free Self-Directed IRA guide to learn more about investing in precious metals with a Gold IRA.
• Access a wealth of valuable eBooks, videos, and other resources on the website.

Goldco Pros

• Goldco provides a straightforward process to set up a Gold or Silver IRA.
• The team can assist in determining eligibility for rollover from an existing retirement savings account.
• Gold IRA offers the same tax benefits as a traditional IRA.

Goldco Cons

• The website does not display the list of coins and bars available outside of an IRA.

The Value of Gold in Uncertain Times

The allure of gold has stood the test of time, often emerging as a beacon of stability amidst the unpredictable ebbs and flows of economic landscapes. In a world where uncertainty prevails and the value of paper currency fluctuates, gold represents a bulwark against the ravages of inflation and market volatility. This precious metal, with its intrinsic value and scarcity, has been a symbol of wealth and a medium of exchange for centuries, transcending cultural and geographical boundaries.

From the instances of economic recessions to periods of high inflation, gold has consistently proven to be a worthwhile investment. It's not merely the allure of the metal that captivates; it is its performance. In the wake of the recent global events that have shaken public confidence in traditional monetary systems, gold's value has been subject to a renaissance, cementing its status as a safe haven for investors. As digital currencies and the whispers of a cashless society grow louder, gold remains untouched by the concerns of electronic money - free of the risks of digital fraud and cyber-attacks.

In this comprehensive exploration, we delve into the myriad reasons why adding gold to your investment portfolio could be a prudent move. We’ll examine its stability as an asset class, its traditional role as a hedge against inflation, the benefits of owning physical gold over digital assets, and the unique advantages presented by UK legal tender gold coins. So, let us embark on a journey to understand the true worth of this enduring asset and how it can fortify your financial insecurity-laden times.

Understanding the Stability of Gold

The cornerstone of gold's appeal lies in its historical stability. For thousands of years, civilizations have turned to gold as a steadfast unit of value, a means to conduct trade and a preserve of wealth. This timeless quality is more than just tradition; it’s underpinned by gold’s innate characteristics—it does not tarnish, corrode, or decay. The fiscal aftermath of significant economic downturns like the Lehman-style crash, reminds us that the stability of gold is not conjecture but a well-documented economic fact.

Gold's resilience is remarkably evidenced during times of financial upheaval. When fiat currencies are buffeted by the winds of inflation, gold stands firm. The fact that an ounce of gold can no longer be bought for $20 as in bygone days but is now valued at about 1600 pounds is not a mere anecdote—it's an unequivocal demonstration of gold's ability to retain purchasing power over centuries. Cash might become less common, and the potential shift towards a central bank digital currency underscores the need for an independent asset that is not subject to government control or electronic risks.

Moreover, gold is renowned for not being leveraged, making it a secure investment choice; it is a physical commodity held outside the financial system, safeguarding against government interference or systemic financial instability. Gold radiates a sense of safety that is hard to replicate in other asset classes. In this era of economic insecurity, when trust in banks and governments is wavering at the best of times, gold provides a secure and confidential form of wealth storage and a failsafe against the erosion of fiat currency through relentless inflation.

Hedge Against Inflation

Inflation is the invisible tax on savings, eroding the purchasing power of currency stored in bank accounts. As everyday expenditures increase and the cost of living surges, the value of cash holdings diminishes. This is where gold’s role as a steadfast hedge against inflation becomes indispensable. It has been observed that gold maintains its purchasing power over time, in stark contrast to fiat currency, which is affected by the monetary policy and inflationary pressures. Allocating 10-20% of one's portfolio to physical gold reinforces the notion of using this precious metal as a shield against the unpredictable tides of the market.

Historical data indicates that over time, property investments and savings accounts fail to offer the same level of security that gold can provide. While property prices and rent costs have shot up, concerns loom about a possible housing market crash, and people are increasingly selling homes to lessen debt burdens. with prices witnessing a 19% increase in the last two years, a 70% increase in five years, and a staggering 500% in the last decade.

Cash is not the only traditional investment that is suffering due to inflation; corporate bonds also face increasing risks, driving savers to seek refuge in tangible assets like gold. The growing distrust in government creditworthiness multifold amplifies this phenomenon. Gold has thus risen as an alternative investment strategy, offering stability, liquidity, and a safeguard against the depreciative effects of inflation. The rich historical performance of gold, combined with its modern relevance, underscores the wisdom in making it an integral component of any diversified investment portfolio.

The Safeguard of Physical Gold

Amidst the abstract nature of most modern investments, the tangibility of gold provides an unquestionable sense of security for many. Physical gold, in the form of bars and coins, is not merely an investment; it is a possession of a real, physical asset that can be held, stored, and ultimately, controlled by the investor. Many individuals are turning to physical gold due to the uncertainty and as a means to keep their wealth outside the banking system. Physical gold transcends the digital sphere, immune to hacking, digital fraud, and other cyber threats that plague electronic assets.

Choosing between gold bars or gold coins, can depend on considerations such as tax advantages and future plans. Gold bars may come at a slight premium due to storage and security concerns, but the company provides solutions by partnering with approved vaults, offering security and insurance at a negligible annual cost. Legal tender gold coins, like Britannias and sovereigns, also offer particular tax advantages, being exempt from capital gains tax—a fact that enhances their allure as a sought-after means of safeguarding one's wealth.

It's not just individuals who prefer the safety of gold; both commercial and central banks have been known to hold significant gold reserves, pointing to its universal credibility as a stable asset. When the value of money depreciates, like during the lockdown when money value decreased substantially, gold shines as a beacon of surety.

The Growing Concerns Around Property Investments

Property as an investment has traditionally been a staple for many. However, the current economic climate has brought new challenges to the forefront, raising eyebrows and causing investors to reconsider their options. The concern over an impending property market crash is palpable, with an increase in homeowners selling their property to negate debts. Higher rent, increased property prices, and the 35% depreciation in mortgages due to inflation are signs of a cresting wave that might not hold.

What this means for investors is a heightened level of risk. A home is often an individual's most sizable investment, and while it can provide a roof over one's head, it is also susceptible to changes in the market. There are potential benefits of investing in gold over property, given gold's defensive qualities, especially in periods of economic uncertainties, where the metal is sought after to protect wealth from looming dangers. Property, being an illiquid asset with ties to numerous economic factors, lacks the agility and stability gold offers.

When comparing the two asset classes, gold stands out for its ability to act as a buffer in times of economic downshifts. The stability and gradual appreciation of gold offer an appealing contrast to the often volatile and unpredictable property market. Goldco's background in the financial realm and experience during significant downturns paved the way toward their success, alerting investors to the merits of gold as an effective hedge in a diverse investment portfolio, especially considering the negative ramifications of an over-leveraged property market.

Digital Currency vs. Physical Assets

The comparison between digital currency and physical assets like gold is becoming increasingly relevant. In the podcast, We at Usmintgold have concerns over the potential loss of autonomy and privacy with a shift towards central bank digital currencies. In stark contrast, physical gold presents complete ownership, devoid of the prying eyes of institutions and the reach of digital compromise. In a time where digital assets are subject to the whims of the market and regulatory uncertainty, gold offers a form of wealth that is entirely under the investor's control.

The lack of leverage and the stable nature of gold make it a secure choice. There is a reduced sense of privacy and autonomy with digital currencies, fueling a debate over future preferences for fiat currency due to concerns over control by central entities. While speculation about silver being the next pivotal investment is ripe given its industrial demands, gold remains the standard for wealth preservation in its physical form—an asset whose value is solidified by the limits of its quantity and history of demand.

However, one must also consider the predicted shortage of silver and the role it has been anticipated to play in the future. Silver, like gold in the 1980s, is at a crucial juncture where its value could skyrocket due to amplified industrial uses and the global shift towards electric vehicles. While silver is subjected to a 20% VAT, it remains an area of interest for savvy investors who see the potential for large percentage increases in value in response to gold's incremental growth. Notwithstanding, gold continues to be a definitive asset for those looking for stability and reliability in their investments, offering a refuge from the uncertainties of the digital currency realm.

Diversifying Your Portfolio with Gold

Diversification is a well-regarded strategy in the investment world, aimed at spreading risk across various asset classes to mitigate losses during market downturns. Integrating gold into a diversified investment portfolio is a tactic espoused by many financial experts. A prudent allocation of assets across different investment streams, such as property, cash, and equities, but we must emphasize the vital role gold can play in cushioning against market corrections and providing a stable counterbalance to more volatile investments.

It is wise to have a strategy that includes holding property, money in the bank, and exposure to equities through a pension. But crucially, also maintain a stake in gold, underscoring its importance in a balanced investment approach. By following the smart money—investments made by those who have historically navigated market fluctuations successfully—investors are reminded of the significance of gold as a foundational component of a strong portfolio. Even amidst predictions of a market crash within the year, gold’s worth as a liquid and safe asset shines bright, with potential tax advantages heightening its appeal.

As financial landscapes evolve and new investment opportunities emerge, the constancy of gold remains a touchstone for those seeking a measure of security. Holding physical gold, especially during times of high volatility, is not only a means of beating inflation but also a testament to the enduring legacy of what many consider the original currency. The recommendation to hold a portion of one's wealth in gold is not just a nod to tradition; it is a strategic move aimed at ensuring one's financial stability and preparing for an uncertain future.

The Future of Precious Metals: Gold and Silver

As the modern investor navigates a landscape rife with economic uncertainty, the future of precious metals, particularly gold and silver, holds a special allure. It's important to shine a light on the bright prospects for these commodities, especially given the historical shifts in their valuation and the current global economic climate. The silver market seems to be at a turning point, much like gold was in the 1980s, with its extensive industrial applications and increasing demand especially with the automotive industry’s transition to electric vehicles. Thus, it offers an exciting, albeit more volatile, complement to gold.

The impending shortage of silver forecasted over the next five to ten years, coupled with the metal's industrial necessity, signals a potential spike in its value. The fact remains, however, that gold's traditional role as a store of value and its significant appreciation over the last decade positions it as the more stable investment. Gold prices have soared as investors shun riskier assets and seek refuge in the metal’s steadfast nature—a trend backed by central and commercial banks increasing their gold reserves, further demonstrating a lack of trust in traditional currencies and financial systems.

Looking ahead, the future remains optimistic for precious metal investments. There's a clear path for gold and silver as viable options for long-term wealth preservation. Whether it be the trusted security of gold or the potential for robust gains with silver, these metals present a compelling case for inclusion in any savvy investor's portfolio.

Conclusion

In the investment odyssey that is fraught with risk and uncertainty, gold stands out as a beacon of security and stability. Our journey through the myriad advantages of investing in gold—from its role as a hedge against inflation to its tangible asset status—highlights the precious metal's enduring value. The insights here underscore the importance of considering gold as part of a diversified investment strategy, especially during times when the economic horizon seems uncertain.

The discussion around the potential of silver as an investment also bears mentioning, demonstrating the value of keeping an eye on future trends and opportunities in the precious metals market. As the world continues to grapple with the implications of digital currency systems and their impact on privacy and autonomy, gold—unencumbered by such contemporary concerns—remains a valuable and reliable resource for safeguarding wealth.

Therefore, whether you are an experienced investor looking to bolster your portfolio or a newcomer to the world of investments seeking a safe haven, the knowledge and reflections shared today make a compelling case for including gold in your financial plans. The path of prudence is paved with gold, and those who walk it may find themselves better positioned to withstand the economic storms that lie ahead.