When it comes to precious metals investing for retirement or cash purchases, Goldco (formerly “Goldco Direct”) based in Woodland Hills, CA is one of the most well-known and legitimate precious metals brokers in the industry.
In business since 2006, Goldco is most definitely not a scam and has accumulated over a thousand positive reviews with only a handful of complaints over the years.
They have been named by Inc. Magazine as the #3 fastest-growing financial services company in the U.S. The minimum investment amount for non-IRAs is $3,500 (cash purchases) and for IRA it is $25,000. Non-IRA purchases have no extra fees.
Goldco IRA Fees
- $50 one-time setup fee + $30 wire transfer fee
- $80 annual maintenance fee
- $100 annual storage fee (OR $50 depending on if you elect to have segregated storage or not)
- ** First-year fees are waived for IRAs above $50,000 -AND- Free precious metals up to 5% of order values for any purchases above $50,000 (if you request gold kit below👇 Goldco is offering a time-sensitive Special Edition FREE Silver Coin for every IRA form that’s filled out)*
* Terms and conditions apply, one per customer, see website for details and availability.
As you’ll see, Goldco is a phenomenal company, where the only complaints (few and far between) are mostly stemming from what we call growing pains in the industry. As the company has expanded and grown its customer base, mild side effects are to be expected; such as minor miscommunication, pricing issues, and buyback delays.
To make it easier on you, we’ve compiled and summarized all the Goldco IRA reviews and ratings from the top rating sites into one comprehensive review, that way you don’t have to search through all the real customer reviews. Overall the company has an excellent rating profile and an extremely minimal amount of complaints compared to the vast number of 5-star reviews received.
IMPORTANT: New to purchasing precious metals? First start here: What Fees to Watch Out For!
We commend you for doing your own research. Fraud is a concern in this industry and we constantly hear about clients being taken advantage of. Make sure you read some more reviews here before deciding to invest with just any company.
** Also check out all the winners of the 2021 Best Gold IRA Companies awards.
Goldco IRA Complaints and Reviews
Good news; there aren’t many Goldco Direct complaints at all on the main rating sites (below). There are roughly 90% more positive reviews than there are complaints. Out of thousands of positive reviews, when analyzed complaints make up only less than (<1%).
We were able to find a good amount of solid actionable information on the company and here are some of our findings to help you make a more informed decision when deciding which company to move forward with.
Goldco Trustpilot Rating and Reviews (updated July 14, 2021)
Goldco has been reviewed by customers on Trustpilot since September 2015. So this gives us quite a bit of customer data to go off of. Just within the last month, there have been a handful of new reviews, showing there are recent active happy clients leaving reviews.
There’s also an older profile under the name ‘Goldco Direct’ due to the fact they were rebranded to just ‘Goldco’. Here’s what we found:
- The “old” Goldco Direct profile from 2015 has 25 reviews total, 12% Great (4-star), 88% Excellent (5-star). Giving them a TrustScore of 4.6 stars.
Even back then Goldco Direct customer reviews were very positive:
Karl Hook – Jan 18, 2016 (5-stars)
Terienne Dortman – Oct 29, 2015 (5-stars)
William Neely – Oct 17, 2015 (5-stars)
Samuel Pennington – Oct 15, 2015 (4-stars)
Steven – Sep 28, 2015 (4-stars)
Judy Graff- Sep 27, 2015 (4-stars)
- The current official ‘Goldco’ profile on Trustpilot has 586 real client testimonials with an Excellent 4.9-star score – 91% of the reviews are Excellent (5-star), 8% Great (4-star), less than 1% avg., poor, or bad).
Let us give you a healthy mix of some of the more recent reviews here as well:
Bill Borrello – May 27, 2021 (5-star)
Jeffrey Studley – May 7, 2021 (5-star)
Joey Deco – May 7, 2021 (5-star)
Ben Romero – May 6, 2021 (5-star)
Richard Werther – May 5, 2021 (4-star)
Thomas Luczynski – March 5, 2018 (3-star)
Goldco Negative Reviews
There are two other similar 3-star ratings as above. On the positive side.
- There are only two 2-star reviews. One is explaining how the customer wasn’t able to get a hold of their account manager, later finding out she was no longer with the company. The other is too long to post here and is regarding Goldco charging a 10% premium and felt the company was trying to sell him on buying some silver.
- Three 1-star reviews. The latest one is from Dec. 3, 2020 regarding confusion on the actual custodian statement the shows the spot price of the precious metals and does not reflect the true account value. This issue seems to have been resolved. The second 1-star review is from Sept. 11, 2020 and claims that their premium collector coins are way overpriced. Goldco has responded thoroughly giving a satisfactory explanation of the difference between spot value and melt value. The 3rd and final 1-star review is from June 26, 2018. Here the client has written that his portfolio dropped in value after switching from stock to precious metals.
Here is the official update to this client’s former 1-star review showing that he is accepting of Goldco’s resolution:
Another important thing to consider is if the company is responding to negative comments and reviews it shows they care about their clients and value their reputation while priding themselves on standing behind their promises. Goldco has done just that. They have responded quickly and successfully. They are apologetic while resolving all complaints and have done so in an expeditious manner. Some were dealt with the same day, others the next day, but it never took more than a week to hear back from a representative.
Trustpilot SUMMARY: Overwhelmingly positive reviews are expressing how extremely helpful and pleasant their representatives are. Others refer to how they spend all the time needed to help them plan and conduct a smooth, easy transaction. 99% of everyone is satisfied with their communication in regards to addressing concerns, and professionalism.
Note: Keep in mind that not everyone goes out of their way to leave positive reviews. And there are a lot of positive reviews, which says a lot. However, most people who feel they’ve been wronged will most definitely go out of their way to leave negative ones. And that being the case, that means only 5 people had issues with Goldco’s services out of thousands.
If you’re short on time, we suggest getting Goldco’s FREE Investor Kit
(click below to learn more)
Goldco Business Consumer Alliance Rating and Reviews
- Goldco maintains a AAA rating (the best) at the Business Consumer Alliance (BCA).
- They’ve only received 1 complaint in the last 3 years.
- Goldco has responded and resolved the complaint by making a partial refund.
- They currently have 5 stars based on 1 positive review (below).
Wayne H. – Feb. 14, 2020 (5-star): Professional and Personal. I did business with Reginald Johnson and found him to be a very professional representative for Goldco. I had many questions as a new customer and he was able to answer all my queries. Having a friendly, personal relationship with staff in a company goes a long way toward a positive experience.
BCA SUMMARY: It’s evident they take client satisfaction very seriously by responding quickly to resolve any issues. It is slightly odd to see so little data with the BCA for a company that’s been in business for over a decade. We think this has to do with the BCA not being used as much as the newer sites. Even though there are not many positive reviews, practically having no complaints for 3 years is excellent.
Goldco BBB Rating and Reviews
According to the Better Business Bureau (BBB), Goldco has 76 employees was incorporated in Deleware. Ms. Brenda Whitman is listed as CEO. Their business’ main focus consists of dealing in gold and silver, along with retirement planning. The company can assist in purchasing precious metals for Individual Retirement Accounts (IRAs) or cash purchases for home storage.
- A+ rating and has been accredited since 2011.
- 4.9 stars out of 5 based on 131 customer reviews.
- Almost all 5-star ratings. Only one 1-star rating and one 2-star rating.
- There have been only 6 customer complaints in the last 3 years.
- 3 complaints have been resolved and closed out within the last 12 months.
- Complaints ranging from issues related to advertising/sales calls being too frequent and problems with the product or services. (see below)
- There is only one 1-star rating and one 2-star rating
Some example complaints found online are:
— One customer wanted a refund due to a discrepancy between a locked-in price. The company responded positively with a refund and closed the dispute satisfactorily.
— Another did not want to receive communications yet claims they were being sent text messages without their permission. The company responded that they do not have the capability to send messages and that the person’s phone number was not in their system.
— A client feels they have been misled and overcharged. The company responds that it is the client’s choice of which metals to purchase and that they do not offer a guaranteed buyback program, which the client agreed to both verbally and written.
* Goldco is currently our top recommended company. With this offer, you’ll get the lowest fees with a guaranteed buyback program.
— One inexperienced former client which asked for a refund felt that they were persuaded to purchase a coin that they did not want because they did not know better. The company apologized and refunded their money.
— A customer feels they were not given the current fair market value price when making the purchase and has asked for an adjustment to be made. The company responded positively and the customer is satisfied with the result.
— Another customer feels they may have been overcharged and misled. The company responded with an apology and a 100% refund, along with a generous extra free 1/10th ounce gold coin.
BBB SUMMARY: It is apparent that Goldco cares about its customers and takes complaints very seriously. The complaints on record actually showcase the company in a good light because they resolved each matter with the client. They have made a concerted effort to reach out and make the client happy, which ultimately has resulted in many satisfied customers.
Goldco Trustlink Rating and Reviews
- TrustLink has 253 satisfied customer reviews.
- No negative reviews were left whatsoever.
- Rated 4.8 stars out of 5. The vast majority are 5-star reviews.
- Shows a good amount of customers are vouching for this company.
- There are a handful of 3 and 4-star reviews peppered in there but the vast majority are 5 stars.
- None of the reviews that were left is 1 or 2-star.
- The last 10 reviews left are recent (2020-2021) and are all positive.
Goldco Consumer Affairs Rating and Reviews
- Goldco Precious Metals is an accredited brand and authorized partner of Consumer Affairs, which is an endorsement in itself.
- Received an overall positive rating at nearly 5-stars, 4.8
- Out of 440 reviews currently, there are over 400 5-star, twenty-eight 4-star, nine 3-star, one 2-star, and six 1-star ratings.
- The 1-star ratings range from being overcharged, not receiving metals on time, to being contacted too often. All have been responded to by the company addressing all concerns.
This goes to show that Goldco Direct is giving the vast majority of people what they promise and is a reliable company, which is why they’ve been in business for so long.
Because it is not possible to satisfy all of the people, all the time – some negative outliers are to be expected. The important thing to keep in mind when considering this company is that they are actively addressing all Goldco complaints.
Other Ratings and Reviews
Google Reviews Goldco has a ranking of 4.8 stars out of 5 from 312 reviews. Their Facebook page has 11,645 likes and 12,114 followers. they have 513 followers on LinkedIn. They have a 5-star rating on ScamReport based on 43 reviews. They have only 3 complaints on Ripoff Report.
On Yelp, they have a 4-star rating out of 5 from only 4 reviews. They should have a 5-star rating, as 2 of the reviews are 5 stars and 1 is from a complaint that was left on Trustpilot as well and has been resolved, yet the 1-star rating remains. Yelp is now mostly used for reviewing dining and retail establishments.
Goldco Pros & Cons
- Great customer service. Highly qualified advisors.
- Ranked among the top 3 precious metals brokers by multiple sites.
- Customer service reps are courteous and responsive.
- Their website is educational and easy to navigate!
- They’ve also integrated reviews and testimonials into their website nicely.
- Their purchase process is streamlined, quick, and easy!
- All the necessary paperwork is provided to set up custodians and depository.
- Answers to all beginners’ questions, long phone consults.
- Near five-star reviews on the major rating sites.
- Secure bullion storage and vaulting.
- Real portfolio help and asset diversification
- Customer complaints state that they were sold the wrong product. High markup on certain coins (mainly silver proof coins).
Their profile is active and there are roughly a thousand positive reviews combined, all have been left fairly recently. It also helps to see complaints being dealt with online for all to see. This helps in forming a real assessment of a company’s dealings and how much they care about pleasing their clientele.
Most times with companies, a consumer claims that they were taken advantage of by being recommended certain high-priced coins, only to find out later that the coins were worth much less. This type of price mismatching complaint is seen all too much with other sub-par businesses that feel the need to resort to these tactics to make a profit. You will not find this at Goldco. Just something to think about when selecting a company.
Well as you can see, there’s definitely enough “real” feedback about this company in order to decide whether to move forward. There are also satisfied customers discussing their views on forums and on social media platforms such as Facebook.
Who We Recommend
When it comes to the sheer volume of positive feedback, our #1 pick is Goldco. To see how they operate in a transparent fashion, regarding commissions and fees, then grab their investor kit to learn how you can pay the least amount of fees.
You’ll also see why we’ve chosen them as our top recommended company this year. They are the Highest Rated Precious Metals Dealer Overall for 2021 so far.
If you had similar complaints or would like to leave a positive review of Goldco please comment below. We appreciate your sharing.