Goldco vs American Bullion
Much of what separates one precious metals company from another shows up in the sales conversation: how clearly costs are explained, whether you get time to think, and whether claims are backed in writing. This page compares Goldco and American Bullion on that basis. We state only verified facts about Goldco; American Bullion is another precious metals company, and you should check its current published terms, fees, and complaint records yourself.
Before You Call Either Company
Do a few minutes of homework first, so the conversation starts on your terms.
- Confirm who you are dealing with. Goldco describes itself as a precious metals company headquartered at 24025 Park Sorrento, Calabasas, CA 91302. Ask American Bullion for its business address and legal name, and check that they match its paperwork.
- Look up complaint records. Search both names on the Better Business Bureau site and in the Consumer Financial Protection Bureau's public complaint database. Read the substance of complaints and how they were resolved.
- Read the CFTC's consumer materials. The Commodity Futures Trading Commission publishes guidance on precious metals fraud that describes common pitches.
- Write down your questions. Our list of questions to ask a gold company is a good starting point.
During the Call: What to Listen For
Clarity about who you are speaking with
Goldco's staff are precious metals specialists. They are not licensed to give financial, legal, or tax advice. Ask the American Bullion representative the same question: are they licensed to advise you, and if not, what is their role? Our page on Goldco's precious metals specialists explains the role.
How costs are introduced
Notice whether fees and premiums come up early and in specific terms, or only after you push. Goldco publishes a fee statement, shown below, which gives you a fixed reference point for the conversation.
Gold IRA Fees
The required minimum purchase at Goldco to start a gold IRA is $25,000. Goldco’s preferred Custodian charges a flat annual account service fee which includes a one-time IRA account set-up fee of $50. as well as a $30 wire fee. Annual maintenance is $100, and storage is $150 for segregated storage or $100 for non-segregated storage.
Fees for gold storage and custodianship can vary depending on the company you select to handle these services (required by the IRS, as all IRA assets must be managed by a custodian). Depending on the Custodian, storage fees can range from $10 to $60 per month, or as a percentage of assets, from 0.35% to 1% annually.
How products are suggested
Listen for whether the representative explains why a product is suggested and states its premium. A steady push toward themed or limited-edition coins, without a clear explanation of their higher premiums and resale basis, is worth questioning with any company.
How the future is described
No one can know where metal prices are headed. Statements that treat a price rise or a market collapse as certain are a red flag. Some people hold gold as a potential hedge against inflation or as one way to diversify; that is a reasonable thing to discuss, but not a promise.
Pace
You should be able to end any call without committing. Pressure to decide the same day, or claims that an offer is about to disappear, are classic warning signs described in our page on high-pressure sales red flags.
After the Call: Verify in Writing
Anything said on the phone should be confirmed in a document before you send money. Ask both companies for:
- The purchase agreement you would sign.
- The complete fee schedule, including custodian and depository charges.
- A written quote listing each product, its fineness, IRA eligibility, and premium over spot.
- Written buyback terms, if a buyback was mentioned.
Goldco, for example, advertises a buyback program for IRA-approved coins "at the highest price." That is an advertised offer; the written terms are what count. Check every verbal claim from either company against the documents, and our guide to reading a precious metals purchase agreement can help.
A Side-by-Side Call Log
Keeping a simple log makes the comparison fairer. After each call, note:
- Date, time, and the name of the person you spoke with
- Products suggested and the reason given
- Costs mentioned, and whether they matched the written schedule
- Any statements about future prices or the economy
- Whether you felt pressure to decide
- Documents promised, and whether they arrived
After two calls, the log usually shows which company communicates the way you prefer.
If Something Goes Wrong
If you believe you were misled by any precious metals seller, you can report it to the FTC at ReportFraud.ftc.gov, file a complaint with the CFPB, or contact the CFTC. Keep your call log and documents; they are your record. Our page on how to verify a precious metals dealer covers additional checks.
Frequently Asked Questions
Which company has fewer complaints?
We do not publish complaint counts or ratings. Check the BBB and CFPB databases directly, and read how complaints were handled.
Is it normal for a company to follow up after a call?
Follow-up is common. Repeated pressure after you have said no is not, and you can ask to be removed from call lists.
Can a precious metals specialist tell me how much to buy?
Goldco's specialists are not licensed to give financial advice. Allocation questions are best taken to a licensed financial professional.
Where can I see a full overview of Goldco?
Read our Goldco review and the page on Goldco complaints.