Goldco offers a stress-free, straightforward process for customers looking to invest in precious metals. They also offer flexible funding options such as bank wire transfers and check mailings.
The company has been helping people safeguard their retirement savings through precious metals investments for 17 years. Their service is backed up by high customer feedback and recognition from prominent figures, such as American talk show host Sean Hannity.
Precious Metals IRA
Precious Metals IRAs allow individuals to use their retirement funds to invest in physical precious metals, such as gold, silver, platinum, palladium, and others. These metals are known for their timeless, intrinsic value and can act as a robust safeguard against inflation, currency devaluation, geopolitical uncertainty, and other risks that can impact traditional stock market investments.
While traditional financial advisors may not be aware of the benefits of Precious Metals IRAs, there are a growing number of companies that specialize in them. These companies will help you understand how these accounts work and provide world-class customer service. In addition, they will work to make the entire process easy and comfortable.
When it comes to opening a Precious Metals IRA, there are several steps that must be taken into consideration. First, you must establish a self-directed individual retirement account (IRA). This type of account gives you more control over your investments. Once your account is established, you must choose a custodian that is approved by the IRS to handle self-directed IRAs. The custodian is responsible for purchasing your precious metals and storing them in a secure storage facility. Typically, the metals are stored in a safe that is separate from other investors’ metals.
Once you have selected a custodian and dealer, you can start making precious metal IRA investments. However, you should always do your own research before choosing a dealer. You should also make sure that the dealer is reputable and offers transparent prices. Additionally, you should look for a dealer that belongs to industry trade groups like the American Numismatic Association, Industry Council for Tangible Assets, and Professional Numismatists Guild.
There are two ways to buy precious metals in an IRA: either through direct purchases or through an in-kind distribution. Direct purchases are more convenient, but they are subject to taxes and a 10% early withdrawal penalty if you withdraw them before age 59 1/2. In-kind distributions avoid these penalties, but you must still pay income tax on the investment.
In-kind distributions are more common, and they are usually a good option for people who already have an IRA that they want to use to purchase precious metals. To make an in-kind distribution, you must request one from your custodian or the depository. Once you have done so, your IRA will receive a shipment of the metals and then deposit them into your account.
Non-IRA Precious Metals Sales
Many investors have seen the ads on TV or online, urging them to invest their retirement funds in precious metals for a safer and more lucrative investment. But before you rush to call a gold IRA company, it is best to understand how these investments work and whether they are suitable for your personal investment needs and budget.
The benefits of a Precious Metals IRA are numerous. However, buyers need to be aware that precious metals are not risk-free and can lose value. This is because they have significant purchase and storage costs that stocks and bonds don’t. These costs include base fees and the “spread” – the gap between the wholesale price that the precious metals company pays to acquire the assets and the retail price it charges you as a buyer. The spread can range from 25-75%.
Precious metals can also serve as a hedge against paper investments, especially during economic uncertainty. They are considered countercyclical investments, meaning that they tend to perform better during recessions than other types of financial assets. This is why so many people use a Precious Metals IRA to diversify their portfolios and protect against declining paper assets.
A Precious Metals IRA can be established through a self-directed individual retirement account (SDIRA). SDIRAs allow investors to invest in a broader set of assets than traditional IRAs, such as real estate, promissory notes, tax lien certificates, private placement securities and precious metals. However, the SDIRA custodian does not review or exercise due diligence on these investments, and they may lack the liquidity and transparency of traditional IRAs.
If you want to establish a Precious Metals IRA, contact a reputable and regulated precious metals dealer. American Rare Coin is a leading provider of precious metals for IRA accounts and offers several popular bullion products that qualify as an IRA-approved asset. We also provide a complete range of services to help you choose the right product for your retirement account and handle all IRS paperwork and transfer procedures. Our customers benefit from our high ratings and low fees.
In addition to a full line of Precious Metals IRA-approved products, American Rare Coin offers a complete IRA service. We assist with the opening and funding of new IRAs, and we can also rollover funds from your existing IRA or former employer 401(k). Our experienced professionals will walk you through the process step-by-step and answer any questions you might have along the way.
Buy-back Guarantee
Goldco offers a buyback program that gives customers confidence that they can liquidate their precious metals if circumstances change. They promise to offer a fast and fair price quote, based on the current spot price of the metal. Customers have reported that they were able to sell their precious metals back to Goldco at a profit.
The company has a long list of glowing customer reviews, with the vast majority giving it top marks. However, all businesses get complaints from time to time. What matters is how a company handles these complaints.
In one case, a customer complained that they received unsolicited calls from Goldco. They had given their phone number in exchange for a free gold IRA guide, and they wanted to be removed from the call list. Goldco apologized and asked to speak with the customer privately so they could resolve the issue.
When it comes to opening a self-directed IRA with Goldco, they make the process quick and easy. They will handle all the paperwork and coordinate with your custodian and depository. They also charge a flat $50 setup fee and waive storage fees for cash transactions over $25,000. Non-segregated storage is $100, while segregated storage is $150.
Once the account is opened, you can select your metals from Goldco’s extensive inventory and have them shipped to an independent insured depository or sent directly to you. In addition to the buyback guarantee, Goldco offers a wide range of services that are beneficial for those who want to diversify their retirement assets.
With a rating of A+ by the Better Business Bureau and Triple A from the Business Consumer Alliance, Goldco is committed to superior customer service. The company’s mission is to help Americans protect their wealth by providing effective solutions that can increase retirement savings and provide financial security. They have a wide variety of investment options and are endorsed by popular media personalities, including Sean Hannity. In 2021, they were named Company of the Year by the American Business Awards.
Customer Service
Goldco has been a trusted partner in helping investors diversify their portfolios with precious metals for 16 years. They have thousands of 5-star reviews across the internet, as well as a stellar reputation with the Better Business Bureau and TrustPilot. Customers have been pleased with their expertise and dedication to customer satisfaction. From a free gold IRA investor kit to detailed educational resources, they help their customers navigate the often complex world of investing in precious metals.
When you work with Goldco, a qualified investment specialist will guide you through the process of opening a Precious Metals Individual Retirement Account or rolling over your current IRA to a Gold IRA or Silver IRA. They will identify which IRS approved metals are appropriate for your investment goals, assist with the purchase of the metals at competitive prices and arrange storage in a secure depository. Goldco will also liaise with their preferred Custodian, Equity Trust Company on your behalf to ensure that the transaction is conducted according to IRS regulations.
While Goldco has received a few complaints on the BBB, it is important to note that they are proactive in responding and resolving issues that arise for their customers. This speaks to their commitment to excellence and the integrity of their operations.
A few of the complaints stemmed from miscommunication regarding fees associated with transactions and storage of their investments. Goldco takes great care to ensure that all charges are fully disclosed before they are made. This is a key aspect of their service and sets them apart from many competitors.
One other complaint centered on a miscommunication with regard to pricing and inventory. While this is not uncommon, Goldco makes it a point to communicate accurate real-time pricing information to their clients and to advise them that the price of precious metals can fluctuate over time. This is a reality in the industry and something that every investor should be aware of when making decisions regarding their investments. This is an area where many competitors are lacking.