Goldco Precious Metals optimized the procedure in the past 14 years it has been in business helping gold IRA customers.
How to Open an Individual Retirement Account with Goldco
From the time you make your first contact until the time you complete the rollover of your gold IRA, this is what you can anticipate:
A representative from Goldco will get in touch with you to verify your postal address before they send your gold IRA investment kit out the door. Investing kits are typically sent out within two to three business days.
Go through the materials in your informative packet. The Goldco IRA department has precious metals IRA specialists available to talk to if you’re interested in opening an account. To assist you in opening your self-directed individual retirement account, the IRA professional that you deal with will work directly with you.
They will also coordinate with the retirement account custodian to identify any additional steps that must be taken to facilitate a smooth transition of assets to the self-directed IRA. After that, you’ll have the opportunity to collaborate with Goldco’s staff in choosing the precious metals that will be added to your account.
After that, the Goldco IRA professional will arrange to have your metals sent straight to the depository of your choosing (more info below). Depending on the availability of precious metals at Goldco, this may be accomplished in a matter of days.
The Fees Charged by Goldco for Precious Metals IRAs
Custodial Fees for a Gold IRA
As was just indicated, Goldco recommends Equity Trust Company (https://www.trustetc.com/) as the IRA custodian of choice for precious metals investments. Since this organization has been around since 1974, you may put your whole faith in them to handle any administrative or custodial responsibilities related to your account.
- How much does it cost Goldco to open an IRA? $50.00
- Do new accounts incur a wire fee? $30.00
- The costs charged on a yearly basis to keep your account in good standing? $80.00
Gold Individual Retirement Account Vault Storage Costs and Available Options
- The professionals that deal with gold IRAs may provide you with a few different solutions for the safekeeping of your assets in precious metals.
- The annual cost of these several choices ranges from $100 to $150:
- Non-segregated vault storage is available via Goldco Precious Metals’ partnership with DDCS for an annual fee of $100 at a fixed rate.
- Brinks is among the most well-known names in the industry of precious metals IRA depository companies. Goldco, via its partnership with Brinks, provides a non-segregated storage option for a fixed charge of $100 per year.
- A precious metals repository that offers a complete range of services is known as International Depository Services (IDS). The use of IDS is an option for customers who wish to store their vault data in a separate location. The charges amount to $150 per year for separate storage space.
- The non-segregated vault storage option is often selected by consumers since it is more affordable. You and your Gold IRA professional can determine which is best.
How Much Does It Really Cost to Open a Gold IRA Account with Goldco?
Non-segregated vault storage: To start a brand-new Gold IRA, a total fee of $260 should be anticipated from brand-new consumers. To calculate the overall setup expenses, just add an additional $50 for a separate vault storage option, bringing the grand total to $310.
Storage Fees, Custodial Fees, Account Setup Fees, and Wire Transfer Fees
Gold IRAs have yearly maintenance costs of $180 after the first year. To reiterate, if you choose the option to store items in a separate vault, you need to spend an additional $50 to the overall cost of storage, which is $80.
It is essential to take notice that Goldco often offers limited-time specials, in addition to additional client perks and incentives. The fact that Goldco will pay for all your membership dues in the first year is a promotion that is quite popular. When you talk with a representative from Goldco, make it a point to inquire about any ongoing specials.
If and when a client decides to liquidate their account, they are free to do so to any interested party. Goldco is known for its extensive buy-back program, and it is their policy to never turn down an offer to purchase metals from one of its customers.
Since 2011, the business has maintained its accreditation with the Better Business Bureau (BBB), which stands for Goldco BBB. As of the time of writing this evaluation, they had a rating of A+ and 199 customer evaluations. Their testimonials have an overall rating of 4.88 stars out of 5, which is the highest possible, and they have an A+ rating with the Better Business Bureau.
How about the downsides?
You’ve probably found this page because you’re doing the right thing and want to read up on the reputations, including Goldco complaints, of various gold IRA providers.
Complaints Regarding Goldco: What Makes Us Dissatisfied?
This firm has hefty minimums for its gold and silver IRAs, which is the sole complaint. The organization will not set up a new individual retirement account for less than twenty thousand dollars. Although the typical value of a gold IRA is far larger, the price of this account minimum may be prohibitive for some prospective investors.