Goldco FAQ: Common Questions Answered
Goldco is a precious metals company in Calabasas, California, that helps customers hold physical gold, silver, platinum, and palladium in self-directed IRAs or buy them directly. Below are concise answers to the questions people ask most often, grouped by topic, with links to fuller explanations.
About the Company
What is Goldco?
Goldco is a precious metals company. It sells physical metals for self-directed IRAs, funded by transfer or rollover from an existing IRA, 401(k), or other qualified retirement account, and for direct purchase outside retirement accounts. It is not a bank or a financial adviser.
Where is Goldco located?
Its listed headquarters is 24025 Park Sorrento, Calabasas, CA 91302.
Which metals does Goldco sell?
Gold and silver, and the company states it also offers platinum and palladium. Its listed coins include the American Gold Eagle, American Gold Buffalo, Gold Maple Leaf, British Lunar Series, American Silver Eagle, Silver Maple Leaf, and Britannia, plus bars and many themed and commemorative coins. See gold coins and silver coins.
Is Goldco legitimate?
It is an operating company with a published fee statement and named custodian relationships. To judge it yourself, check BBB, the Business Consumer Alliance, and the CFPB complaint database. Our verification checklist walks you through it.
Minimums and Fees
What is the minimum to open a metals IRA with Goldco?
The IRA minimum is in Goldco's published fee statement, reproduced exactly here:
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.
What is the minimum for a direct purchase?
Goldco's website lists a $10,000 minimum for direct purchases, according to Goldco's website at the time of writing; confirm current terms. See Goldco minimums.
What do the fees on the statement cover?
Broadly: opening the self-directed account, moving money, annual administration by the custodian, and storage at the depository. Our fees explainer describes each category.
Are there costs not on the fee statement?
Yes. Every product price includes a premium over spot, and selling involves a spread between buy and sell prices. Ask for both before you buy.
Storage and Custody
Who holds the metals in my account?
For an IRA, an independent insured depository stores the metals, and a self-directed IRA custodian administers the account. Goldco does not hold them.
Which custodians does Goldco work with?
Goldco says it works with all major self-directed IRA custodians, and its FAQ references Equity Trust statements. Ask which options are currently available. See storage and custodians.
Can I store retirement metals at home?
Generally no. Federal rules on collectibles in IRAs require eligible metals to be held by a trustee; personal possession can be treated as a distribution.
What is segregated storage?
Your specific items are kept separate from others'. Non-segregated storage pools identical products. Ask which is offered and what each costs.
Funding and Setup
How do I move money into a metals account?
Usually by trustee-to-trustee transfer from another IRA or a direct rollover from an employer plan. A direct rollover avoids the 20% mandatory withholding that applies to eligible plan distributions paid to you. See the rollover process.
How long does setup take?
It varies, mainly depending on how quickly your current custodian or plan releases funds. Ask Goldco and your current provider for their typical timelines rather than relying on a general estimate.
What documents will I need?
Typically photo ID, statements from your current accounts, beneficiary details, and the custodian's forms. See the setup checklist.
People and Process
Who will I talk to at Goldco?
Precious metals specialists, who explain options, describe products, and coordinate paperwork. They are not licensed to give financial, legal, or tax advice.
Is there a free information kit?
Yes. Goldco offers a free Gold & Silver Kit and an "Ultimate Guide to Gold & Silver." See the kit page.
What statements will I receive?
The custodian sends account statements. Goldco's FAQ references Equity Trust statements, which list holdings and values.
Selling and Taxes
Does Goldco buy metals back?
Goldco advertises a buyback program for IRA-approved coins "at the highest price." That is its advertised claim; read the written terms. See the buyback program.
Are sales of metals inside an IRA taxed?
A sale inside an IRA keeps the proceeds in the account and is not a distribution by itself. Withdrawals from a traditional IRA are generally taxable, and early withdrawals before the IRS-defined age may carry an additional tax. See IRS Publication 590-B.
How are metals bought directly taxed when sold?
The IRS generally treats physical gold and silver as collectibles, with a maximum long-term capital gains rate of 28%. A licensed tax professional can explain your situation.
Frequently Asked Questions
Can I add metals to my account later?
Generally yes, through additional transfers, rollovers, or contributions within IRS limits. Ask Goldco about minimums for later purchases.
Can I take my metals out of the account?
Yes, through an in-kind distribution handled by the custodian. It is generally taxable for a traditional IRA.
Where can I read a full overview?
Our Goldco review covers products, process, fees, and buyback in one place.