Goldco is a precious metals investment company, and it has emerged as one of the best in the field. The company has become quite popular among investors and has been reviewed thoroughly. As such, it is essential to understand how the company works and whether or not it is a scam. It is worth noting that Goldco is based in California and operates as per the existing US laws. With this investment option, you will be able to roll all or part of your retirement savings into gold or silver bullion.

Bearlakegold recommend that your never hold all of your retirement savings in any single kind of asset,  this includes holding all of your retirement funds in precious metals, or similarly all of your retirement wealth in stock, shares, bounds, art or any other single assets class. 

A FAQ we often get is what are Goldco fees and prices?

Goldco has a minimum purchase amount of $15,000.

They have the advantage of charging a flat annual fee rather than a percentage of the value of assets stored. We have found this beneficial if you hold a large amount in a plan like a Gold IRA.
When you invest in precious metals IRA, you will not receive the physical coins or bullion bars.

Also, Goldco does not hold your coins or bullion directly and instead works with secure depositories around the USA. You can communicate with the customer support team of Goldco to find the best repositories for your precious metals. If you want to monitor the performance of your investment, you will have to check the customer dashboards of Goldco’s custodians. These custodians include Self Directed IRA and Equity Trust. Goldco does not allow investors to keep their gold coins at home as this is forbidden by the IRS

The charges for Gold or other precious metal storage or custodian fees depend on your selected custodian or depository company.

These fees are separate from any fees charged by Goldco and typically cost $10 to $70 a month. Suppose you are storing your precious metals with a custodian that charges a percentage of the value of assets stored, rather than a flat fee. In that case, charges typically range between 0.3% and 1.5% of the value of the assets you hold annually.

As part of our Goldco review for 2022 we had to look at risks  Like all other investments, gold and silver IRAs have an element of risk. The prices can fluctuate depending on certain factors. However, in the long run, the prices of silver and gold generally go up. Here are some factors which can affect the price of gold:

• Inflation- Inflation lowers the value of a currency, and this is why people flock to gold and other precious metals when the inflation rate is high. The increased demand will raise the price of these metals.
• Interest rates- The price of gold will also rise when interest rates drop. With lower interest rates, people don’t get good returns on their deposits, and this will increase the demand for gold. This eventually leads to an increase in the price of gold.
• Central bank reserves- Since the US dropped the gold standard in 1971, central banks have been accumulating gold reserves. As these banks purchase more gold, the price of the precious metal rises.
• The value of the USD- In international markets, gold is traded with the USD, so any fluctuations in the value of the currency will affect the price of gold. A stronger USD will usually keep the price of gold low and stable.

Other factors that determine the price of gold are the industrial demand, the performance of the jewellery market, and the worldwide production of gold.

Since you will not take physical possession of the coins, there is no risk of theft. You also don’t need to go through the hassle of finding storage space for the metals since this will be done by Goldco. Also, the company guarantees the purity level of the coins, and it works with some of the best mints in the world.

The most popular precious metals are gold and silver, but these are not the only options offered at Goldco. You can also invest in platinum and palladium. Here are some reasons why you should consider buying platinum:

• Platinum has been selling at a premium to gold, and this trend has been sustained over the past decades. Even in cases where platinum fell below gold, its price has recovered quite fast.
• This precious metal offers very low risk to investors as its price is quite stable.
• Its price is not coordinated with the performance of traditional assets, so it can help you diversify your investments.
• It performs very well in periods of economic recovery.
• Historically, platinum has performed well in the long run, so it can work as a hedge against inflation.

There are also great reasons for investing in palladium, and these include the following:

• Environmental protection laws in recent years have led to an increase in the use of palladium in catalytic converters.
• Palladium is extremely scarce, and this has helped to drive its price up.
• Palladium moves inversely to the price of the USD, so it can work as a hedge against inflation.

You should remember that there are no guarantees on the prices of these precious metals. They may rise or fall depending on different factors. However, if you go by historical trends, the risk with these metals is extremely low.