A Comprehensive Review of the Goldco IRA

  • Goldco IRA is a self-directed IRA custodian that allows investors to buy gold bullion and other precious metals.
  • The company offers account types ranging from traditional and Roth to Self-Directed Precious Metals IRA and Self-Directed Precious Metals Rollover IRA.
  • Self-Directed IRAs are retirement accounts that allow individuals to invest in alternative assets such as physical gold, real estate, and private businesses.
  • Goldco IRA offers accounts with a variety of tiers, from basic to premium, and different fee structures.
  • The company offers the ability to purchase physical precious metals directly online, and customers can also call in for assistance.

Goldco IRA is a self-directed IRA custodian that allows investors to buy gold bullion and other precious metals. The company offers account types ranging from traditional and Roth to Self-Directed Precious Metals IRA and Self-Directed Precious Metals Rollover IRA. Goldco IRA also offers IRA rollovers, transfers, and conversions.



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Types of Goldco IRAs

Goldco offers two types of self-directed IRAs: Self-Directed Gold IRAs and Self-Directed Precious Metals IRAs.
Both accounts allow investors to make investments in gold, silver, platinum, and other precious metals. However, precious metals IRAs also include the options for investing in rare coins, bullion, and other forms of physical metal.
Goldco also offers IRA accounts with physical precious metals storage.
Self-Directed Gold IRAs
Goldco offers investors the option of purchasing the physical metal themselves or, alternatively, purchasing the metal from Goldco and having it stored on their behalf.
The investors earn a percentage of the spot price for the metal. The percentage earned depends on the size of the purchase and the size of the account.
Silver, platinum, and palladium are the only precious metals available for purchase, but investors can purchase fractional-ounce amounts. The minimum purchase is $100.
Investors can set up automatic purchases, and Goldco purchases metals on investors' behalf every month.
Self-Directed Precious Metals IRAs
Investors with Precious Metals IRAs have the option to have their metals stored on their behalf.
Trading precious metals through Goldco can be more cost-effective than purchasing and storing the metals themselves.
Goldco charges an annual storage fee of 0.25% of the total value, and investor must pay a $20 annual account maintenance fee.
Self-Directed Precious Metals IRAs have no minimum purchase requirement.

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Goldco Retirement Account

The Goldco Retirement Account is an IRA that can be purchased with up to $5,500, and an account custodian must be established with Goldco. All IRAs have a minimum $50 investment requirement. The Goldco Retirement Account offers four investment options:
Physical Gold

Stock Index Funds

Mutual Funds

Individual Stocks

The Goldco Retirement Account allows you to choose between physical gold bullion and stock index funds. Options for mutual funds and individual stocks are offered in two forms:

Goldco Select Funds

Goldco Select Stocks

Physical gold bullion is allocated in increments of 0.05 ounces, and the Goldco Select Funds are allocated in one ounce increments.

Goldco Brokerage Account

Goldco offers both self-directed and traditional brokerage accounts, and with the latter, you trade stocks, bonds, mutual funds, ETFs, options, and futures, while with the former, you trade precious metals, such as gold and silver, contracts, and futures, as well as options on precious metals.
Goldco IRA
Goldco offers IRAs (Individual Retirement Accounts), and like the brokerage account, you can transfer funds in and out of your IRA. The IRA clients also have access to Goldco's trading desk.
Goldco Fund
Goldco's Goldco Fund (GOLDX) is an Exchange Traded Fund (ETF) that tracks the price of gold. As of Nov. 3, 2021, the fund has a market cap of $1.4 billion and trades on the NYSE Arca.
Goldco GEMS
Goldco GEMS (GEMX) is an ETF that tracks the price of gold. Goldco GEMS is a physically-backed gold ETF. As of Nov. 3, 2021, the fund has a market cap of $2.5 billion and trades on the NYSE Arca.
Goldco Bullion Vault
Goldco's bullion vault offers physical storage of metals. The vault offers 24-hour security camera surveillance, and clients can order storage and pickup online.
Goldco Futures
Goldco Futures allows clients to trade gold, silver, platinum, and palladium futures.
Goldco Options
Goldco Options allows clients to trade gold, silver, platinum, and palladium options.
Goldco Vault Storage
Goldco Vault Storage allows clients to store bullion in allocated or unallocated storage.

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Goldco Storage

Goldco Storage offers a wide variety of secure, insured, and insured-to-value storage options for metals, including coins, jewelry, and bullion.
Goldco Vault
Goldco Vault is a division of Goldco specializing in the storage of precious metals, coins, and paper money.
Goldco Exchange
Goldco Exchange is a precious metals brokerage that trades online, over the phone, and at live markets.
Goldco International
Goldco International is a division specializing in fractional gold, silver, and platinum bullion bars, as well as numismatic coins.

Goldco Services

Goldco Services, LLC is an entity founded in 2004 that claims to have thousands of clients. While the company offers other precious metal IRA options, this review will focus on their gold IRA.
Goldco Services LLC works in conjunction with a precious metals broker, Brink's Inc., which acts as the custodian and trustee of the retirement account. The broker provides several different types of storage, including storing precious metals in a safe deposit box or delivery to investors' homes.

Goldco Fees

The fee for opening an IRA with Goldco is $750. Considering the fees charged by other gold IRA providers, this is reasonable.
Withdrawals
Goldco charges a 3% redemption fee when you withdraw gold from your IRA. This fee is not levied when you withdraw paper assets such as stocks, bonds, and mutual funds. Paper assets can only be withdrawn via check or wire.