Investing in gold has long been considered an option forAnd . Historically, investors view gold as a means of storing value during times of global or economic uncertainty.
If you’re new to investing in precious metals, gold investment companies can help you get started. One of the best known companies in the field is Goldco, which specializes in a. Goldco’s Gold IRA is easy to set up and the company excels at serving its customers.
If you think you could benefit from investing in gold, then start by requesting Goldco’s free information kit here now.
Goldco is a private gold investment company founded in 2006. The Los Angeles-based company aims to help investors protect their retirement savings through Gold IRA., silver and other precious metals. Goldco also sells gold and silver directly to consumers.
Goldco has been listed as one of the fastest-growing private companies on the Inc 5000 for the past six years. The American Business Awards also recognized Goldco as Business of the Year in 2021 and 2022.
As with other Gold IRA companies, Goldco applies several fees to your account. To get started, you need to pay a one-time setup fee of $50 and an annual account administration fee of $80.
When you purchase precious metals for a gold IRA, you must store them in an IRS-approved depository, which usually involves a fee. In this case, Goldco charges an annual storage fee of $100 for storing your coins and bars with other people’s gold and $150 per year if you store your gold separately from others.
You may notice that each of these fees is a flat fee. In contrast, many gold mining companies charge a percentage of the value of your deposits, often between 0.5% and 1% per year. Storage fees can range from $175 to $225 or more, depending on the amount of your deposit.
With Goldco’s flat fee structure, your fees should remain the same whether you deposit $25,000 or $50,000 or more. According to the company, most clients can expect to pay around $180 per year in fees with a Gold IRA.
By the way, Goldco has a minimum of $25,000. As such, the annual fee cost of approximately $180 equates to 0.72%, which is a competitive rate compared to the expense ratios of most IRAs and 401(k) plans, typically around 0.5% to 0.8%.
Goldco Gold IRA Benefits
Goldco enjoys high ratings, in part because of the many benefits the company offers its customers. These include:
- Free kit: Goldco provides a free beginner’s guide to help you understand investing in gold and precious metals.
- Special offers: Goldco offers free shipping and a 10% free cash back bonus on qualified purchases.
- Strong reputation: The company enjoys high ratings and recognition from organizations and customers. For example, the company has an A+ rating from the Better Business Bureau (BBB), an AAA rating from the Business Consumer Alliance, and a 4.8 rating on Trustpilot.
- Experience: Goldco has 17 years of experience supporting precious metals investors.
Against the Goldco Gold IRA
When deciding whether or not to open a gold IRA with Goldco, consider the company’s pros as well as its cons, such as:
- Minimum investment: Goldco’s minimum investment of $25,000 is high compared to its competitors. On the other end of the spectrum, Hartford American Gold has no minimum contribution amount.
- Limited options: Goldco only offers gold and silver investments. If you want to invest in other precious metals, consider the Oxford Gold IRA, which allows you to store gold, silver, platinum and palladium, as well as paper assets such as mutual funds investments, exchange traded funds (ETFs) and gold mines. actions.
Unique Goldco Benefits
Internal Revenue Service (IRS) regulations require that gold meet purity and size standards to be. For example, gold bars and rounds must be 99.5% pure, just like gold coins, with the exception of the American Gold Eagle coin.
Maintaining high purity standards not only helps Goldco comply with IRS regulations, but the high value for money also allows the company to offer an exceptional buyback guarantee. As the company states: “If your circumstances change, Goldco offers a guaranteed highest price buyback program. »
Unique Disadvantages of Goldco
Goldco is one of the few companies that limits its gold IRA offerings to gold and silver. Most of the gold mining companies we studied offer four types of precious metals: gold, silver, platinum and palladium. Some companies add paper investments to their offerings, likeand precious metals futures.
While it’s surprising that a market leader has such limited options, it makes sense for the company to focus on what it does well. Such narrow specialization in core offerings could explain why their customer service rates are high.
As a gold investment company, Goldco is now a market leader with over $1 billion in gold and silver orders over its 17-year history. With a 4.8 rating on Trustpilot and an A+ rating from the Better Business Bureau, investors can be confident that they are dealing with a reputable and sustainable gold mining company.
As with any investment, it is always wise to shop around and compare several companies before making a decision. Also consider your risk tolerance level and whether the investment helps you achieve your financial goals.
If you decide to open a gold IRA with GoldcoThe process is simple and involves three steps: opening your IRA, funding your account, and purchasing your precious metals.