Goldco Precious Metals

Company Overview

Goldco was founded in 2006 and sets up self-directed gold and silver IRAs, including rollovers from 401(k) and IRA accounts. It requires a $25,000 minimum and lists a 10% silver bonus and a buyback guarantee.

Key Features

Pros and Cons

Company Details

The $25,000 Minimum in Context

The comparison table lists Goldco's minimum as "low," but $25,000 is higher than the $5,000 and $10,000 minimums listed for Birch Gold Group and American Hartford Gold respectively and higher than the $20,000 listed for Noble Gold. Only Augusta Precious Metals, at $50,000, asks for more. Goldco fits a mid-sized rollover better than a small starter account.

If you have less than $25,000 to move, read the Birch, American Hartford Gold and Noble Gold reviews first. If you have more, the rest of this page covers what to check before you sign.

How to Read the 10% Silver Bonus

Goldco's listed features include a 10% free silver bonus, and the summary above describes it as applying to qualifying first-year accounts. Bonus offers of this kind usually come with conditions, and the conditions are where the real cost sits. Ask for the terms in writing and work through these questions:

• Which purchases and which deposit sizes qualify?
• Is the bonus calculated on the amount you roll over, the amount you spend on metals, or something else?
• Is the bonus silver delivered into the IRA, and does it meet the IRS silver fineness rule of 99.9%?
• Does a bonus change the premium over spot on the metals you buy? Ask for a quote with the bonus and a quote without it.
• What happens to the bonus if you transfer out or sell early?

A bonus is only worth taking if the total price of everything you hold, including the bonus metal, is competitive. Compare the total, not the headline percentage.

Buyback: The Feature to Test

Goldco's features include a buyback guarantee, and it is the only company on this site that lists one. Birch Gold Group lists the lack of a buyback guarantee among its cons, so this is a real point of difference.

A buyback policy matters on the day you want out. Ask Goldco:

• At what price will you buy my metals back: a published formula, or a quote on the day?
• Is there a fee for selling, and how many business days does it take to receive the cash in my IRA?
• Does the policy cover every product I buy, including the bonus silver?
• Is the policy written in my account agreement, not just in marketing material?

What a Goldco Rollover Looks Like

1. Talk to Goldco and ask for the fee schedule and bonus terms in writing.
2. Open a self-directed IRA with a custodian. The custodian holds the account; Goldco supplies the metals.
3. Request a direct rollover from your 401(k), 403(b), TSP or traditional IRA. The old plan sends the money to the new custodian, which avoids the 60-day redeposit deadline and the 20% employer-plan withholding that apply to indirect rollovers.
4. Select metals that meet IRS fineness rules: gold of at least 99.5%, silver of 99.9%, platinum and palladium of 99.95%.
5. Confirm that the metals go to an IRS-approved depository and ask whether storage is segregated or commingled.

The summary above says Goldco serves rollovers nationwide. Rollover speed depends heavily on how fast your old plan responds, so ask both parties for a timeline.

Cons to Weigh Against the Bonus

The cons listed for Goldco are that fees can be higher than some competitors, that the website could be more informative and that international options are limited. The first one is the one to quantify. Request the setup, annual custodian, storage and insurance figures on a single page and compare them with a written quote from Birch or American Hartford Gold. A bonus that is offset by higher fees or a wider spread is not a bonus.

Verifying Goldco's Claims

The Get Free Kit buttons on this page link to Augusta Precious Metals, our partner, not to Goldco, and we earn a referral fee if you request that kit. Goldco's page here is a comparison, so verify its claims independently.

• Read Goldco's Better Business Bureau profile, including the complaints and how the company responded.
• Check your state regulator for complaints.
• Be cautious about urgency, return promises and offers to buy collectible coins with IRA money, which do not qualify.
• Compare the total cost on two written quotes for the same product.

Goldco FAQ

Is Goldco a good choice for a small account?

With a listed $25,000 minimum, Goldco is above three of the other four companies on this site. Smaller accounts should look at Birch, American Hartford Gold or Noble Gold first.

Is the silver bonus free?

The listing calls it free, but bonus terms usually carry conditions on size, timing or holding period. Get the terms in writing and compare total prices.

Can I hold the bonus silver in my IRA?

Silver in an IRA must be at least 99.9% pure and held in an approved depository. Ask Goldco how the bonus metal is delivered and stored.