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Is Goldco a scam? Or are they a legit precious metals dealer company?
Are there any customer complaints and negative reviews about them?
You can find the answers to these questions in my Goldco review for 2024 article below.
And now continue reading my review of Goldco Precious Metals.
You can use these jump links to move around my Goldco review faster:
- Which Services Do Goldco Precious Metals Offer?
- Goldco Precious Metals Pricing
- How to Get Started With Goldco Precious Metals?
- Goldco Precious Metals Pros and Cons (Complaints)
- Goldco Precious Metals BBB and Consumer Watchdog Websites Scores and Reviews
- Goldco Precious Metals Customer Support
- Goldco Precious Metals Lawsuits
- Augusta Precious Metals Review FAQ
- Goldco Precious Metals Review- Scam or Legit (Conclusion)?
Table of Contents
What is Goldco Precious Metals?
Goldco are the true market leader and one of the oldest and largest gold IRA companies in the USA market.
They survived so long because they offer a quality service for American savers (thousands of people have already done business with Goldco, they have 5000+ 5-star reviews from happy customers and Goldco have sold over 2 billion worth of gold and silver).
You’ll be safe with them if you decide to invest.
Goldco has a $25,000 minimum investment requirement for opening a gold IRA account. That’s pretty steep compared to some other gold IRA companies, though you can also buy cash and silver outside of your IRA for just $3500.
Which Services Do Goldco Precious Metals Offer?
Goldco offer two types of services.
First, you can open a gold IRA account and store your gold and silver in a depository with the help of a qualified custodian (Goldco will connect you with their preferred custodian).
Second, you can buy physical gold and silver bullion and store it at home.
How to Open a Gold IRA With Goldco Precious Metals?
Step #1- Open Your New Gold IRA
You can open a Precious Metals IRA with Goldco by signing an agreement to secure your purchase and understand Goldco’s terms of doing business.
A Goldco’s representative specially assigned to you will walk you through every step of the process.
Step #2- Fund Your Self-Directed IRA
You can fund your Precious Metals IRA by rolling over assets from your existing retirement accounts, for example 401(k), 403(b), TSP, savings or IRA accounts. You can easily roll over all of these with Goldco’s help and you won’t face any tax penalties for these types of rollovers.
Step #3- Purchase Your Precious Metals
Once your Precious Metals IRA is funded, you can choose which precious metals you’d like to have as a part of it.
Goldco helpfully and clearly show you which of their coins are IRA-approved and which are not.
Goldco Precious Metals Pricing
The fees for setting up a Goldco account are:
- One-time set up fee– $50;
- Annual custodian fee– $80;
- Annual depository fee– $100 ($150 if you want to have your coins and bars segregated from other savers’s coins and bars).
|Recurring Yearly Payment
|One-time set up fee- $50;
|Annual custodian fee- $80;
|Annual depository fee- $100.
|Annual depository fee, segregated storage- $150
|Shipping fee- free for orders over $500
|Transit insurance fee
Note: these are the fees for opening a gold IRA account with Goldco.
It does not include the money you’ll need to spend to purchase gold and silver coins and bullion.
You also don’t pay these fees when buying gold and silver to be physically delivered and stored at your home.
Is Goldco Precious Metals Secure and Safe?
Goldco Precious Metals is a secure and safe gold IRA company to work with.
First, Goldco work with all major custodial services operating in the US. Your custodian is going to be the one who manages your gold and silver for you and you want it to be a reputable one.
Goldco will connect you with such a legit and reputable custodian.
Second, Goldco work with reputable depositors to store your gold and silver properly and securely.
They have an excellent relationship with the Delaware depository, which is one of the biggest and most trusted depositories in the U.S.
Goldco Precious Metals Customer Support
I have a full guide on Goldco’s customer support you need to check out, but here’s the gist of it:
There are 3 best ways to contact Goldco Precious Metals:
- via telephone (phoning Goldco is the best way to contact this gold IRA company. The number is 855-450-1394. Call Monday to Friday, between 7am – 4pm (PST).)
- via their official contact page.
- via their live chat.
Other ways to contact Goldco are via their:
- via their official Twitter profile.
- via their official LinkedIn profile.
- via their official Facebook profile.
Note: Contacting Goldco Precious Metals via social media is reserved for trivial questions you have about the company or precious metal investing.
For more serious matters your best bet is to call them or start a chat with them on their website.
Goldco Precious Metals Pros and Cons
Note: read my full Goldco pros and cons guide here. It’ll open in a new tab so you won’t lose your place here in my Goldco review.
Old Gold IRA Company With 18+ Years in Business
At the time of writing this Goldco review on my website, Goldco have already been in business for full 18 years and they’re still going strong.
In the gold IRA niche, there are some companies which are only ~5 years old and do awesome work for American savers and investors. That said, in this niche usually older=better. I say usually because there are always exceptional young companies that however only serve to prove the rule.
With 18 years in the business, Goldco is one of the oldest and best gold IRA companies in the US.
“A+” score on BBB and Excellent Scores on Other Consumer Watchdog Websites
Goldco are a BBB-accredited business with a well-maintained profile and a perfect A+ score. This is another proof of the legitimacy of this company.
They also have thousands of positive customer reviews on popular consumer watchdog websites.
Take a look at their ratings and scores on these platforms (note: these are captured in the moment of writing this review of Goldco Precious Metals)
|Consumer Watchdog Websites
|Number of reviews
|Number of complaints in the past 12 months
|None or very few
|None or very few
|None or very few
|Business Consumer Alliance
|None or very few
|None or very few
No Additional Fees. You Only Pay for Storage and Custodian Fees
Goldco have a small initial account step fee, and once you pay it that’s the only payment you’ll make to Goldco directly (not counting the gold and silver purchases you make with them).
The other two fees are custodial fees and bullion storage fees, but the money here goes to services Goldco work with, and not to Goldco themselves.
Click here to go to the section of my Goldco review that talks about Goldco’s fees and pricing.
Customer-friendly Buyback and Refund Policies
Goldco have excellent buyback and refund policies designed to give maximum protection to their customers.
You can read my Goldco refund and buyback policy guide here.
Excellent Customer Service
Goldco have excellent customer service built to support their customers along the way of doing business with this company.
Click here to jump to the part of my Goldco review where I talk about Goldco’s customer support.
Strong Focus on Education
Goldco is not a scam. They’re a legit gold IRA company. One telltale sign of that is that Goldco have a strong focus on educating both their existing and potential customers.
On their website, you’ll find a large helpful blog full of helpful knowledge on the economics and benefits of gold IRAs.
They also offer a helpful Wealth Protection Kit which consists of a Printed guide, Audio guide & Video guide, which is plenty of updated info for you to absorb and learn from.
$25 000 Miniimium Investment Requirement
Goldco have a $25 000 minimum investment requirement for gold IRA purchases.
$25 000 seems like it’s a lot and for some people it is. But still, $25 000 is just 50% of the minimum investment requirement of Augusta Precious Metals (Augusta is another excellent gold IRA company).
No Palladium and Platinum Products
Goldco are strictly a gold and silver IRA company, even though both platinum and palladium are IRA-approved precious metals.
This means you’ll need to go to another gold IRA company If you want to fill your gold IRA with platinum/palladium coins and bars.
No Mobile App
Goldco’s website is available on mobile and the site is fully mobile-responsive. However, Goldco don’t have an official app you can install and use on your mobile device.Goldco Review 2024- Pros and Cons Explained! #goldira #silverira #gold #silver Click To Tweet
Is Goldco a Scam or Legit? What are Their Ratings and Scores on Popular Consumer Watchdog Websites?
Goldco is not a scam. They’re a legitimate gold and precious metals dealer operation in the US market.
As you’re going to see below this section there aren’t that many lawsuits against Goldco because they do excellent service to Americans looking to diversify their portfolios with precious metals.
And Goldco have superb scores on popular consumer watchdog websites.
Here’s the breakdown followed by screenshots (with hyperlinks) as proof.
Goldco has an A+ score on BBB with hundreds of 5-star reviews from happy customers.
- BBB- 4.8/5 based on 828 customer reviews.
- ConsumerAffairs– 4.9 out of 5 based on 1685 customer reviews.
- Trustpilot– 4.8 out of 5 based on 1240 customer
- Trustlink– 5 stars based on 254 customer reviews.
- Yelp– 3.4/5 stars based on 14 customer reviews.
- Birdeye- 4.9/5 stars based on 2307 customer reviews.
- Google My Business– 4.9/5 stars based on 2255 customer reviews.
And here are some positive reviews posted on BBB by previous Goldco customers.
Here are some more positive reviews from Goldco’s ex-customers.Goldco Precious Metals have excellent customer reviews on popular consumer watchdog websites. Goldco is not a scam. #goldira #silverira #gold #silver Click To Tweet
What about Goldco’s Negative and Bad Customer Reviews? Do They Exist?
Negative and bad reviews about Goldco exist, but I purposefully didn’t include them here.
Because a large chunk (not all of them) of them are fake reviews posted to harm Goldco’s reputation.
Remember that Goldco is a gold IRA company doing business in the gold IRA niche. Gold IRA niche is very competitive and unethical marketing practices are common among competitors. Posting fake customer reviews is one such tactic.
I’m not saying all of these bad reviews are fake, but it’s impossible to discern which negative reviews are real and which are fake, so I played it safe by including only positive testimonials here.
If you want to find online negative reviews and complaints about Goldco all you need to do is go to Google or Bing and search queries like “Goldco negative reviews” “Goldco complaints” “Goldco bad reviews”, “Goldco Precious Metals complaints” and similar.
You can find this info easily, just be aware that the content you’re reading could very well be fake, AI-generated and definitely inaccurate.
You can click here to read about the common complaints about Goldco you need to be aware of to truly make up your mind.
And here are some of the resolved complaints Goldco have gotten on their BBB profile.
You can see how the company is quick to respond to customer complaints and do everything they can to solve them successfully. BBB-complaint-responsiveness is a hallmark of a legitimate business.
Note: please be aware that BBB complaints and negative reviews disappear from the site after 3 years.
If you investigate one of these source links and you see the negative review is no longer there, message me and I’ll update my review of Goldco Precious Metals.Goldco Review 2024- Goldco Precious Metals have plenty of positive customer reviews on popular consumer watchdog websites and rarely a complaint and negative review on a platform like BBB. #goldira #silverira #nikolaroza Click To Tweet
Goldco Lawsuits: Has Goldco Ever Been Sued?
Goldco are one of the best gold IRA companies operating on the US market.
They’re a legitimate business that people rave about online.
However, Goldco has been sued a couple of times (based on my thorough research at the time of writing my Goldco review) and you need to know about it if you’re thinking about buying gold and other precious metals from this company.
These lawsuits are all detailed below with screenshots and hyperlinks if you want to investigate further.
Lawsuit 1- Jodi Judson v. Goldco Direct, LLC (2:19-cv-06798) District Court, C.D. California
Jodi Judson v. Goldco Direct, LLC (2019-2021): This class action lawsuit alleged Goldco violated the Telephone Consumer Protection Act (TCPA) by sending text messages to telephone numbers on the National Do Not Call Registry, which is against the law.
Lawsuit 2- Goldco Direct, LLC v. Wilson
Goldco Direct, LLC v. Wilson (2018-2021): this is not a lawsuit against Goldco. Instead, Goldco filed this lawsuit against a former employee and his wife, who allegedly created a website that defamed Goldco.
Goldco won this lawsuit and was awarded damages. You can find the court documents for this case on the Casetext website.
Lawsuit 3- HOWARD ARONSON VS GOLDCO DIRECT LLC ET AL
On May 4, 2018, Howard Aronson initiated a lawsuit for breach of contract against Goldco Direct LLC. Aronson filed the lawsuit, which involves some type of contractual dispute, in the Los Angeles County Superior Court at the Stanley Mosk Courthouse in Los Angeles, California.
The current status of the case is listed as ‘Other,’ indicating that the case is likely still ongoing or the final disposition is not clearly specified in the court records.
Note: currently no more information about this lawsuit is available online. I’ll update my article as soon as new info is available.
Lawsuit 4- LOUIS J. WASSER VS GOLDCO DIRECT, LLC, A DELAWARE CORPORATION, ET AL.
On June 4, 2020, Louis J Wasser filed a business contract lawsuit against Goldco Direct, LLC, A Delaware Corporation in the Los Angeles County Superior Court, Stanley Mosk Courthouse in Los Angeles, California. This indicates there was some kind of contractual dispute over a business agreement between Wasser and Goldco Direct.
The current status of this case is categorized as “Other”, meaning the case likely remains ongoing or there is no clear public record of the final disposition in the court archives yet.
Note: currently no more information about this lawsuit is available online. I’ll update my article as soon as new info is available or once the verdict is reached.
Lawsuit 5- MIN KANG VS GOLDCO DIRECT LLC ET AL
On May 4, 2018, Min Kang filed a lawsuit against Goldco Direct LLC for breach of some unspecified contractual obligation in Los Angeles County Superior Court at the Stanley Mosk Courthouse in Los Angeles, California. The judge assigned to oversee the legal proceedings in this civil case is Judge Anthony Mohr.
The current status of litigation is categorized as ‘Other’ which indicates the case likely remains open and ongoing, or there is no clear public record of a final settlement or disposition yet.
Note: currently no more information about this lawsuit is available online. I’ll update my article as soon as new info is available.
Also, please understand that just because Goldco has been sued a couple of times, it doesn’t mean they’re a scam. In fact, Goldco is a legit gold IRA provider with years of experience in helping Americans diversify their portfolios with precious metals.
Any successful business that has existed for years is bound to attract a lawsuit or two eventually.Goldco lawsuits explained- has this gold IRA company ever been sued? #goldira #silverira #gold #silver Click To Tweet
Goldco Precious Metals Review FAQ
What Does Goldco Do?
Goldco is a gold and silver IRA company.
“Goldco is committed to helping Americans achieve greater financial security by providing effective solutions that can help protect their wealth. We believe that precious metal ownership is an important part of your overall retirement savings strategy.”
Is Goldco the Biggest Gold Dealer in the World?
Goldco is not the biggest gold dealer in the world. That said, they are one of the largest gold dealers operating in the US market and they’ve sold more than 2 billion worth of gold and silver.
And they continue to thrive as a company.
Is Goldco Reputable?
Goldco is a reputable gold IRA company.
They have superb scores on popular consumer watchdog websites (click here to jump to the section of my review that shows those scores), and they’ve won the Stevie Award for Company of the Year at the 19th Annual American Business Awards in 2022.
Goldco were also named to Inc. 5000 fastest-growing private companies.
Bottom line– Goldco is a reputable and legit company. They’re not a scam.
When Was Goldco Precious Metals Founded?
Goldco was founded on October 7, 2006 by Trevor Gerszt.
Who is the CEO of Goldco Precious Metals?
The CEO of Goldco Precious Metals is Trevor Gerszt.
Do Goldco Precious Metals Sell Platinum Bars and Coins?
Goldco don’t sell platinum bars and coins.
However, Goldco Precious Metals are a legitimate gold IRA company. If you ask them directly whether they sell platinum or not, they might tell you they can procure it for you even though platinum products are not displayed on their website. Give it a try!
Do Goldco Precious Metals Sell Palladium Bars and Coins?
Goldco don’t sell palladium bars and coins.
However, Goldco Precious Metals are a legitimate gold IRA investment company. If you ask them directly whether they sell palladium or not, they might tell you they can procure it for you even though palladium products are not displayed on their website. Give it a try!
Do Goldco Precious Metals Sell Rhodium Bars and Coins?
Goldco Precious Metals don’t sell rhodium bars and coins. This means you can’t add rhodium bullion to your IRA via Goldco Precious Metals. Also worth noting is that rhodium are products are not IRA-approved.
Do Goldco Sell Copper Bars and Coins?
Goldco don’t sell copper bars and coins. Copper is not an in-demand metal and rarely a gold IRA company sells it.
Note: JM Bullion are a rare precious metal dealer that offers copper bullion (copper coins, bars and even bullets made of copper).
You can read my JM Bullion review here.
Is Goldco Precious Metals a Bitcoin IRA Company?
Goldco Precious Metals are not a Bitcoin IRA company. I know because I used a site operator to check their site and the results showed me that Goldco don’t see Bitcoin IRAs.
I specifically talk about this because there are some sites promoting non-existent Goldco’s Bitcoin IRAs.
Take a look:
Do Goldco Precious Metals Offer Free Silver on Qualified Gold Purchases?
Goldco offer free silver on qualified gold IRA purchases.
However, there are some requirements you need to hit to be eligible to receive the gift of free silver.
If you open a gold IRA account with Goldco in the range of $50,000 – $99,999 you’ll get 5% of the value of your account in free silver.
If you open a gold IRA account with Goldco in the range of $100,000 or more, you’ll get 10% of your investment in the form of free silver.
To learn more read my Goldco’s free silver offer guide here.
Do Goldco Precious Metals Offer a Refund Guarantee?
Goldco’s refund policy is that in case your precious metals shipment is lost during transit Goldco will either refund your money or send another batch of equal value to your address, or to your chosen custodian.
Will the People from Goldco Push Me To Buy From Them?
People from Goldco will not push you to buy anything from them. They will present the facts to you, and give you the pros and cons of owning physical gold and silver or opening a gold IRA with them.
But the investing decision will be left up to you and your financial advisor.
Do Goldco Precious Metals Offer an Accumulation Program You Can use?
Goldco don’t offer an accumulation program you can use for gradual investment.
Goldco Precious Metals is not for everyone and they specifically cater to those people who can afford to set aside $25 000 to buy gold and silver as part of their new gold IRA account.Goldco Precious Metals Review FAQ 2024- all Your Questions Answered! #goldira #silverira #gold #silver Click To Tweet
Best Goldco Precious Metals Alternatives
Goldco is a legitimate gold IRA firm helping Americans for years (founded in 2006) diversify their portfolios with precious metals, especially gold and silver.
You probably won’t do wrong if you decide to do business with them, as plenty of happy customers can attest.
That said, here are some the best Golddo alternatives if you’re looking for a different gold IRA company to do business with.
- Augusta Precious Metals– read my Augusta Precious Metals review and my Augusta Precious Metals vs Goldco guide next.
- American Hartford Gold– read my American Hartford Gold review and my Augusta Precious Metals vs American Hartford Gold guide next.
- Birch Gold Group– read my Birch Gold Group review here.
- Noble Gold Investments– read my Noble Gold Investments review here.
- Advantage Gold– read my Advantage Gold review here.
- Oxford Gold Group– read my Oxford Gold Group review here.
- iTrustCapital– iTrustCapital is a Bitcoin IRA company, but they also sell precious metals. Read my iTrustCapital review here.
I’m regularly updating my reviews mentioned above so go ahead and read one if you don’t intend to do business with Goldco Precious Metals.
Goldco Lawsuit, Complaints and Reviews Guide- Is Goldco a Scam or Legit (Conclusion)?
My Goldco review for 2024 is over.
Goldco is an excellent and legit gold and silver IRA company. They’re not a scam. They barely have any complaints about them and they have only a handful of lawsuits filed against them in the past.
If you have experience with this company, share it in the comment section below.
Think Goldco is a scam? Also, post your reason for thinking that in the comment section below.
And read these reviews next:
- American Hartford Gold Review 2024- Scam or Legit (Complaints and Lawsuits)?
- Augusta Precious Metals Review 2024- Scam or Legit (Complaints and Lawsuits)?
- Noble Gold Investments Review 2024- Scam or Legit (Complaints and Lawsuits)?
- Birch Gold Group Review 2024- Scam or Legit (Complaints and Lawsuits)?
- Bishop Gold Group Review 2024- Scam or Legit (Complaints and Lawsuits)?
- Advantage Gold Review 2024- Scam or Legit (Complaints and Lawsuits)?
- Allegiance Gold Review 2024- Scam or Legit (Complaints and Lawsuits)?
- Preserve Gold Review 2024- Scam or Legit (Complaints and Lawsuits)?
- iTrustCapital Review 2024- Scam or Legit (Complaints and Lawsuits)?
- Oxford Gold Group Review 2024- Scam or Legit (Complaints and Lawsuits)?
- JM Bullion Review 2024- Scam or Legit (Complaints and Lawsuits)?
Nikola Roza is a blogger behind Nikola Roza- SEO for the Poor and Determined. He writes for bloggers who don't have huge marketing budget but still want to succeed. Nikola is passionate about precious metals IRAs and how to invest in gold and silver for a safer financial future. Learn about Nikola here.