Goldco Fees
Goldco – an online trading platform – lets users invest in stocks, mutual funds, and more. It's popular for its low fees. Let's compare them to other brokerages. What fees does Goldco charge? Usually they're cheaper than other platforms. That's the scoop!
Overview
Goldco is a trusted precious metals investment firm that provides various services for customers looking to invest in gold and silver. Costs of their services depend on the kind of account and services you need. This guide will give you an overview of Goldco's common fees to help you make a wise decision.
The physical metals Goldco offers include one-time purchases and storage programs. Fees for these are simple and don't vary much depending on the investor:
- One-Time Purchase – $19 for purchases $199.
- Storage Program – 0.69% management fee annually on total value. $250 setup fee at signup (first month only).
Goldco also provides self-directed IRAs which allow investors to invest into particular assets, like gold and silver coins and bars, without taxes on the gains. Goldco will manage paperwork, applications, transfers and reporting throughout its term as custodian. The standard fees include:
- Setup Fee – Starting at $250
- Annual Custodial Fee – Starting at $150 per year (includes document updates).
Fees for Buying Gold
Buying gold is a great way to diversify and strengthen your portfolio. Goldco offers competitive prices, secure storage, and important insights into the gold market. Before you buy gold, here are some fees to consider:
- Brokerage Fee – This fee covers expenses related to buying or selling physical gold. It's calculated as a % of the total purchase or weight (in ounces). At Goldco, orders over $25,000 have a 0.03% fee (with a min of $30).
- Shipping Fee – Orders are shipped in discreet packaging for privacy. Smaller orders often come with no cost. Larger orders may need armored car transport, with a cost of $75-$500 depending on amount and destination. Home delivery is available (at an added cost).
- Storage Fees – Storing gold can be done at home or with Goldco. There may be breakage insurance, annual audit, or other admin costs. These guarantee top-level security.
Fees for Selling Gold
When selling gold through Goldco, fees are to be considered. Account types and promotional programs may affect the fee types associated.
Account Fees: Different fees can apply to different accounts. These include transaction, storage (if applicable), premium, and consultation/management fees. For example, an IRA Precious Metals account might have an annual storage fee and a monthly custodial fee.
Selling Gold: Selling your gold directly to Goldco may include a commission fee. This is a percentage of the sale amount, ranging from 0–5%. The fee may vary by region or special promotions/programs. Ask for discounts or coupons when selling. Taxes or other government charges may also be involved. Therefore, ask a tax advisor or accountant for advice.
Fees for Storage
Goldco, a provider of Precious Metals IRA, charges for the storage and upkeep of their tangible gold and silver. Fees differ according to the type of metals owned and the amount in your account. Here's Goldco's storage fees:
- For gold holdings between 1-100 ounces, the fee is $2.35/ounce/year.
- For gold holdings between 100-749 ounces, the fee is $1.50/ounce/year.
- For gold holdings over 750 ounces, the fee is $1/ounce/year.
- For silver holdings under 10,000 ounces, the fee is $0.35/ounce/year.
- For silver holdings over 10,000 ounces, the fee is $0.30/ounce/year per every 10k portion greater than 10k (e.g., 20K to 30K = an additional 0.05/oz).
Goldco also charges a one-time initial setup and custodian fee of $195 for setting up an IRA with physical metals like gold or silver. Plus, an ongoing annual maintenance & administrative Fee of $75 for each individual Retirement Account (IRA) with physical metals like gold or silver every year. This fee applies only if no new rollover funds have been added within that particular year. Otherwise, this fee will be delayed until another 12 months without further fund additions before it gets invoiced again. Then, it can be paid by check or credit card at the IRA owners discretion each year.
Payment Options
Goldco provides customers with a range of payment solutions. These come with distinct fees and benefits. Credit card payments, ACH transfers, wire transfers, check payments and more are all available.
In this article, we explore each payment option's fee system. See how these fees can affect your gold buying experience!
- Credit card payments: …
- ACH transfers: …
- Wire transfers: …
- Check payments: …
Credit Card
Goldco charges a 3.0% fee for all credit card payments to cover processing costs. This fee is non-refundable and will be added to your total at checkout. We accept all major credit cards, such as Visa, Mastercard, American Express, Discover, and JCB (Japan Credit Bureau).
It is important to enter payment information correctly; invalid information may cause delays. Goldco reserves the right to require extra verification before processing payment via any of these methods, for security reasons.
Wire Transfer
Goldco offers wire transfers for quickly and securely sending payments. Fees vary depending on payment type and currency. In the US, fees start at $25 for same-day or next-day transfers, $15 for two-day transfers, or $10 for four-day transfers. International payments have a base fee of $40 plus country-specific charges.
Goldco also offers an automated system for registering and initiating payments in multiple currencies. This system helps Goldco reduce risk when sending payments cross-border. Plus, customers get access to experienced customer service representatives for reliable support throughout transactions.
PayPal
If you choose PayPal as your payment option, be aware that you will incur a Processing Fee and a Network Access Fee. The Processing Fee is 1.5% of the cost. The Network Access Fee depends on where you are making the purchase:
- US – 1.2%
- Europe – 1.9%
- Australia – 2.4%
PayPal also adds a “Conversion Spread” when converting currencies. This adds 3%-4% to your overall fee.
If you use a credit card with PayPal for an international payment, you might have additional fees. Check with your credit card provider before ordering from Goldco to avoid unexpected charges.
Customer Service
Goldco has awesome features and services to make sure customers are content. They have a customer service team to help with inquiries or issues customers have with the company's fees or something else.
Let's peep at Goldco's customer service package!
Phone Support
At Goldco, we value customer service. Our helpful reps are available to assist you from 8am to 5pm PST Monday to Friday. No request is too small or too large – give us a call!
When you call our support line, you will be greeted by a knowledgeable rep. They can answer questions and help with concerns. Whether you want to know about Goldco's fees or need help setting up your account, our team is ready. We understand the importance of quick and helpful customer service, and strive to provide top quality experiences.
Plus, we have email support! Check out our website for more info. So if you have any questions or need more information about Goldco's fees, don't hesitate to call. We are committed to helping you enjoy the best experience with Goldco.
Online Chat Support
At Goldco, customers come first. That's why we provide online chat support to answer your questions and concerns about our services. From selecting the right service to understanding our policies, our customer service team is here for you.
Our customer service reps are available 9am-5pm EST Monday – Friday for live chat and email support. We also answer calls 8am-5pm EST Monday – Friday for personalized help. When you get in touch with us, our agents will be friendly and knowledgeable.
If you need help after hours or on weekends, you can email us. We'll respond when we're back in the office. Plus, you can always access our secure Member's Area platform 24/7. This lets you track orders, explore services, review fees and more – without waiting in line or on hold.
We look forward to helping you with all things Goldco!
Email Support
Goldco knows that customers may need help understanding their account or have a problem. So, email support is offered. Knowledgeable and qualified agents are available Mon-Fri from 9am-5pm Pacific Time (holidays excluded).
For fast resolution, include your phone number, full name, account number, and/or order number when emailing. But, due to high volumes of emails, some requests may take 24-48 hours for a response.
We are committed to promptly responding to all emails.
Security
Security is a must when trading with Goldco. They provide top-notch security for crypto transactions. Multiple layers of security are put in place to guard your assets.
In this article, we'll look at Goldco's security measures and the fees associated with trading.
Secure Storage
Goldco is proud of its vault storage facilities. For ultimate security of your metal and funds, we offer a state-of-the-art, insured facility in many places in the US. These locations conform to all standards set by the highest custodial operations.
Our secure storage features multiple levels of protection – both digital and physical – like monitored 24/7 alarm systems and surveillance cameras. The vaults are individually sealed so only authorized personnel can access your assets. Also, there are digital security measures deployed nationwide, such as Secure Socket Layer (SSL) data encryption technology and password management systems – to protect your account info from unauthorized access.
For extra protection, our vault has multilayered authentication procedures. Clients must approve each transaction. This stops any potential fraudulent activity by non-authorized users or intruders. Lastly, our client vault is audited for access control accuracy so you can trust that everything is secure!
Insurance
At Goldco, we want our clients to be at ease. That's why we provide a range of security features – including insurance coverage. We offer insured services for precious metals stored in Texas, Delaware and North Carolina warehouses. Our clients' holdings are protected up to their purchase value. Plus, Goldco provides an extra layer of protection with a fully-insured delivery service. This is offered at no cost through approved carriers and security firms – ensuring your precious metals arrive safely!
Online Security
It's essential to keep your Goldco account secure when using it online. Goldco offers encryption and secure authentication, but to be sure your confidential info is safe, here are some tips:
- Make sure your web browser is up-to-date. This will help patch any security holes. Don't use outdated versions, as this could make you vulnerable.
- Create complex passwords. Longer and more intricate passwords are harder to crack. Avoid typical passwords such as birthdates, pet names, and addresses. Consider a unique phrase with numbers and symbols.
- Use two-factor authentication (2FA). This adds an extra layer of protection by asking for something you know, something you have, or something you are.
- Secure public Wi-Fi networks. These networks may lack strong security protocols, so connecting through a virtual private network (VPN) can help.
Frequently Asked Questions
Q: What are the fees associated with Goldco?
A: Goldco charges fees for account setup, account maintenance, and storage fees for precious metals.
Q: How much does Goldco charge for account setup?
A: Goldco charges a one-time fee for account setup, which varies based on the type of account and the investment amount.
Q: What is the account maintenance fee for Goldco?
A: Goldco charges an annual account maintenance fee, which is typically a fixed percentage of the account value.
Q: Are there any fees for buying or selling precious metals through Goldco?
A: Goldco charges a markup on the price of precious metals for purchases and sales, which is typically around 5%.
Q: What are the storage fees for precious metals with Goldco?
A: Goldco charges an annual storage fee for precious metals held in their secure storage facilities, which varies based on the amount and type of metals being stored.
Q: Are there any other hidden fees associated with Goldco?
A: No, Goldco is transparent about their fees and there are no hidden fees or charges.
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