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Are you looking for a way to safeguard your retirement with precious metals, but wondering if Goldco legit or a scam? In this in-depth review, we’ll cut through the noise, uncovering the truth behind the glowing customer testimonials and the controversial claims to help you decide if Goldco is the investment partner you’ve been searching for
we’re reviewing precious metals and IRA provider Goldco. In this article, we’ll take a closer look at the track record and reviews of this popular investment diversification company, whose marketing touts their exemplary customer service and customer-based reviews. That’s right, a deep dive to determine whether this company offers legit investment opportunities or scammy sales pitches you should avoid. Let’s get to it.
Many are asking if Goldco Precious Metals is a rip-off since most reviews online are positive. They want to know if these are legit, and they also want to know what its services are and if these are of good quality. Here at Green Bull Research, we believe these concerns are warranted. In these times, it’s so easy to manufacture both negative and positive feedback on the internet. Both are unfortunate because they defeat the purpose of reviews. Positive comments can be bought to prop up a company’s online profile, and on the other side of the coin, negative comments can also be deployed to destroy a firm’s reputation. This is why, here at Green Bull Research, we always add a caveat to our reviews whenever we feature comments. The truth is that reviews online do not represent the overall experience of all subscribers.
But as for Goldco, there’s another reason why many are extra careful about this company. Those who seek its services are looking to diversify their investments, mainly in the form of safety nets. So, it stands to reason that this investor profile would be that of a skeptic or a careful investor. These researchers would not take anything at face value without looking for secondary sources to verify the claims. So if this sounds like you, you’re in the right place.
Our goal is not to bash legit service providers but to be objective, fair, and balanced. Since Green Bull Research is independent, we’ll take an unbiased look at this company to provide you with the vital information you need to make your own honest assessment.
Goldco Overview
As an overview, Goldco Precious Metals’ website is goldco.com. The founder is Trevor Gerszt, and they’re located in Woodland Hills, California. Their services include providing precious metals and precious metal IRAs. The cost of the IRAs varies from dollars, and the precious metals themselves vary depending on the metals’ qualities and weights. We’ll take a closer look at this in the next section, but it’s pretty easy to summarize Goldco’s two main offerings:
- They directly sell precious metals like palladium, platinum, and their most popular—silver and gold.
- They facilitate precious metals Individual Retirement Accounts (IRAs).
Advantages of Precious Metal Investments
So, what are the advantages of these investments compared with other traditional forms? According to Goldco, precious metals are more secure. Unlike other investments that are dependent on the dollar value, the value of precious metals exists independently. Their claim is that even if the economy is in a downturn, precious metals investors are not as worried because the value of gold and silver can even go up during hard times. Meanwhile, during steady economic times, their value remains steady as well.
Since its founding in 2006, Goldco advertises that it has provided consistently great customer service, and as a result, the firm has received various accolades in the industry. But they’re most proud of the feedback they receive from customer-based review sites, and this plays a prominent part in their marketing.
What is Goldco Precious Metals?
Well, according to its press release, Inc. 500 has named Goldco as the Number One Gold IRA Provider in America. Goldco’s main objective is to help its clients build wealth, and they accomplish this through diversification. According to Goldco, your best route toward prosperity is not relying solely on one investment. They advocate for putting your money in two or more portfolios, thereby offering better protection against economic downturns.
This is where Goldco comes in. The company offers physical gold, silver, platinum, and palladium bullion coins and bars. They also provide precious metals IRAs, which can either be started with them or transferred from an existing account. If this type of investment interests you, you might want to also check out our Neptune Global Holdings Review, as this company offers similar services and may be worth comparing.
One of the more prominent features of Goldco’s promotions is their customer service, and this is a core aspect they emphasize on their website and in feedback from clients. Many customers specifically mention their customer service representatives by name, often recalling how friendly and helpful they were while setting up their accounts. There’s even an instance where the founder himself called a customer to resolve an unaddressed complaint, which is a noteworthy gesture. If true, this is a commendable strategy—and a refreshing change from the negative feedback that often circulates about other advisory firms. For instance, when we reviewed Alexander Green’s Oxford Club, we found a barrage of negative feedback from subscribers who felt the service did not live up to its promises. It’s clear that when someone has a bad experience with one investment company, they may develop a negative bias toward all investment firms.
Who is the Person Behind Goldco?
Trevor Gerszt is the founder and CEO of Goldco Precious Metals.
Before venturing into the financial investment sector, he worked in real estate, focusing on commercial and residential properties in the San Fernando Valley region of Los Angeles. However, when the economy took a dive in 2008, he began looking for other opportunities. That’s when he discovered the resilience of precious metals, which led him to create Goldco. He mentions that his company, which sells valuable coins, is something of a “full circle” moment for him. As a child growing up in South Africa, he collected silver coins, which fascinated him from a young age. Now, through Goldco, he offers others the opportunity to experience the same sense of excitement and value with collectible coins.
But beyond nostalgia, Gerszt’s greater mission with Goldco is to provide wealth stability and preservation for his clients. He aligns Goldco’s philosophy with his own personal investment principles, believing that people must “hedge against any economic factors, global pandemics, or market volatility.” For Gerszt, the ideal division of investment capital is 20/40/40: 20% for savings in cash, 40% in traditional markets, and 40% in gold and silver. However, he emphasizes that the key to successful precious metal investments is patience—once you invest in precious metals, you must be prepared to forget about them for a while and let time work in your favor.
Goldco’s Investment Philosophy: Patience and Research
Trevor Gerszt, the founder of Goldco, advises investors to not get carried away by trends or fads in the market. He emphasizes the importance of patience when investing in precious metals. The key is not to expect quick returns but to take a long-term approach. He also encourages people to do their own research before committing to investments. Gerszt says, “When you invest, it should be because of what you have learned, not because of what you’ve been told.”
We think this is excellent advice, and we wholeheartedly agree. In a world where many financial companies push for immediate action, it’s refreshing to hear this kind of guidance. The reason we at Green Bull Research take time to digest and analyze a vast amount of information is to provide objective assessments. We recommend that you take your time, read many sources, talk to people, and subscribe to reliable reviews before making any decisions. After all, this is about your money, so it’s always wise to be deliberate and careful.
Goldco’s Services
Goldco’s website highlights four major offerings and services:
- Physical Gold
- Physical Silver
- Gold and Silver IRAs
- Educational Materials
Goldco is careful to clarify that they do not provide tax or legal advice. This applies to the purchase or sale of precious metals or the opening of a precious metals IRA. All the information they provide is general, and their team members are not financial advisors. However, they offer a free information kit that includes insights on how precious metals can provide more control over your investments by directly backing your retirement portfolio with safe haven assets.
They also detail how to invest in precious metals tax and penalty-free, and because many people find the process intimidating, they break it down in easy-to-follow steps. The kit and shipping are free of charge, and if you make a qualified purchase, Goldco will give you 10% back and free silver. For example, if you open an IRA with $100,000, Goldco will give you $10,000 worth of free silver, and the delivery is up to you, with free shipping included.
Goldco’s Precious Metals Offerings
Let’s take a closer look at some of Goldco’s offerings:
- Gold Self-Directed Investment Retirement Account
Goldco presents two main reasons to invest in gold: stability and growth. They emphasize that the dollar has lost 98% of its purchasing power over time, while gold has remained consistently valuable. They argue that recent trends suggest a Gold IRA will perform better than the S&P 500 or the Dow Jones.
Once you’ve set up your IRA, Goldco allows you to purchase various types of gold. They also offer a Silver Self-Directed IRA, and according to Goldco, silver continues to be in high demand, especially as industries use it for a variety of purposes.
- Physical Gold and Silver
Beyond IRA investments, Goldco also allows you to buy physical gold and silver directly. If you purchase gold or silver from them, the company can ship it to your home, deposit it in a secure storage depository, or store it for you. They provide a wealth of information on their website to help clients make informed, wise financial decisions. We appreciate that Goldco goes out of its way to educate clients and provide clarity on precious metal investments.
Goldco’s Precious Metals Offerings (Cont’d)
- Silver and Palladium
Goldco also sells silver coins, with a requirement that each coin must be 99.9% pure to be eligible for a silver IRA. The company offers a variety of silver coins, and while they also list platinum and palladium for sale, there is less detail on these metals. However, they provide plenty of information on their website regarding which silver coins are eligible for an IRA.
How Goldco’s Process Works
Once you’ve decided to open a gold or silver IRA, Goldco makes it simple. A customer representative will guide you through the process, which can’t be done entirely online. After you read and sign the company’s terms and conditions, you can officially open your precious metals IRA. To fund your IRA, you can roll over assets from existing retirement accounts, including 401(k), 403(b), 457 plans, pensions, TSP savings, or IRA accounts—and the best part is that this process is tax-free. The rollover usually takes about two weeks, though this can vary depending on the specifics of each case.
Once your funds are in, you’ll choose which precious metals to include in your IRA. It’s important to note that your precious metals will remain in a secure depository as part of the IRA regulations. Once you turn 59.5 years old, you’ll be eligible to take distributions. At that point, you can choose how to access your precious metals.
Goldco: Costs, Fees, and Reputation
Goldco’s process for purchasing precious metals is designed to be convenient and accessible for many investors. You can choose to receive your gold and silver in physical form or as cash, making it easy to tailor your investment to your needs. This flexibility, combined with Goldco’s reputation for excellent customer service, creates a win-win proposition for investors who want to diversify their portfolios with precious metals.
Costs and Fees at Goldco
If you’re simply looking to buy gold and silver coins, there are no additional fees beyond the cost of the metals themselves. The price for each coin is clearly listed on their website, so you can easily check it out. For gold and silver bars, however, the prices aren’t posted online, and you’ll need to get in touch with a customer service representative to learn more.
For those interested in a precious metals IRA, Goldco charges both one-time fees and annual fees. Here’s a breakdown of what you can expect:
- One-Time Fees:
- IRA Setup Fee: $50
- Wire Fee: $30
- Annual Fees:
- Maintenance Fee: $80
- Storage Fee: $100 for non-segregated accounts, $150 for segregated accounts
Total Estimated Fees for Precious Metals IRAs:
- Non-Segregated IRA:
- First Year: $260 (Setup + Annual Fees)
- Following Years: $180
- Segregated IRA:
- First Year: $310
- Following Years: $230
In addition to these fees, there is a minimum investment required:
- Precious Metals IRA: Minimum investment of $20,000
- Non-IRA Transactions: Minimum investment of $3,500
These are substantial amounts, so it’s crucial to make sure you’re comfortable with the investment before proceeding. This also underscores the importance of doing thorough research. Since you’ll be committing a significant sum of money, it’s essential to ensure that Goldco’s services are both safe and reliable.
Reviews and Customer Experiences
Goldco heavily promotes its high ratings and positive feedback across several reputable review platforms, including:
- Better Business Bureau (BBB)
- Consumer Affairs
- Google Reviews
- TrustLink
- Trustpilot
Most of the reviews emphasize Goldco’s outstanding customer service. Several clients mention how professional and honest the company was during their transactions, with many noting that the process was smooth and uncomplicated. On BBB, Goldco has an impressive 4.9 out of 5 based on nearly 200 customer reviews, with only 12 complaints—9 of which were resolved in the past 12 months.
However, it’s important to note that negative reviews can also be found on sites like Pissed Consumer, SiteJabber, and Trustpilot. After digging deeper, we found that some of these negative comments were from the same users, which highlights the importance of investigating beyond the star ratings to get a more balanced view.
Interestingly, we found a negative review where the commenter mentioned that CEO Trevor Gerszt personally contacted them to resolve the issue. This is an example of exceptional customer service and shows that Goldco is willing to go the extra mile to resolve complaints—something that’s rare in the financial services industry.
Goldco: Pros and Cons
Pros:
- High ratings and positive feedback on review sites
- Comprehensive educational resources on their website
- Responsive customer service team
- Strong commitment to resolving complaints, with even the CEO stepping in when needed
Cons:
- Some controversy regarding the market value of the coins they sell
- High minimum investment requirements for both IRAs and non-IRA transactions
Is Goldco the Gold Standard?
So, is Goldco the gold standard in the precious metals investment space? Well, it’s certainly received endorsements from high-profile figures, such as Chuck Norris, who trusts Goldco for his own investments. His recommendation alone may give potential clients confidence in Goldco’s services.
When you step back and consider the broader picture, diversification remains one of the most important strategies for long-term financial security. Protecting your wealth through gold, silver, and other precious metals is an excellent way to hedge against market volatility and economic uncertainty. Precious metals hold their value independent of the dollar, providing a stable investment in both good times and bad. In fact, when the economy struggles, their value often increases.
If you decide to invest in precious metals, Goldco seems like a strong candidate to consider. They offer a range of services, from gold and silver coins to IRAs that are straightforward and easy to understand. However, with their aggressive marketing and high-profile endorsements, it’s natural to wonder whether Goldco could be a ripoff. Based on this review, we’ve provided a balanced assessment of both the positives and negatives of the company, giving you the necessary information to make an informed decision.
Ultimately, the question remains: Would you trust Goldco with your retirement savings?
