What Is the Annual Fee for Goldco? [Goldco Fees Breakdown]
Welcome fellow investors!
If you’re looking for Goldco reviews 2024, you might enjoy my series of posts on this Gold IRA company.
Here are my previous posts, in case you missed them:
- Goldco FREE Silver — Legit?
- Goldco Pros and Cons: Is Goldco Legit?
- 25 Commonly Asked Questions About Goldco, Answered!
- Goldco Google Reviews and Complaints (By Actual Investors)
Today’s article will be pretty brief.
Specifically, we’re going to discuss Goldco fees in 2024.
(This includes custodian fees, storage fees, and other expenses you should know about before investing.)
Goldco is my #1 recommendation. Here’s why.
So, what is the annual fee for Goldco?
Let’s find out.
Gold IRA Fees: Things to Keep in Mind
If you’re completely new to the realm of precious metals investing, there are a few things you need to get familiar with.
(I’ll discuss IRA investment limits and rules in the sections that follow, but first, a couple of words on Gold IRA fees and costs.)
In comparison to other investment vehicles, this type of retirement account comes with a couple of extra fees, like custodian, setup, and storage fees, to name a few.
Here is an illustration of what a Gold IRA can cost (it’s NOT Goldco’s fees!):
I realize that this appears to be a substantial increase in costs, but it is required to guarantee the security and safety of your precious metals–
There is just no way around it.
(Actually, there is. If you invest a higher amount, ask the company of your choice if they can waive your fees. Or you get a gold or silver rebate.)
It also depends on your preferences for non-segregated or segregated storage, which custodian you choose to work with (the Gold IRA company helps you with that), and other factors.
But ultimately, you’re paying for necessary services and you do get value for your money.
Also…
Because of the fact that Gold IRA fees are fixed (at least should be with reputable companies), it’s profitable for you to invest more because, regardless of your order amount, you pay the same fees every year.
As an example:
If the fixed Gold IRA fees with the company you chose are $200, you’ll pay $200 annually no matter what, even if you invested $1 million.
Percentage-wise, you pay much less in fees for contributing a larger amount of $1 million compared to investing or rolling over $25,000 USD, for example.
Having said that, let’s get specifically into Goldco fees and costs. What is the annual fee for Goldco, and how much should you expect to pay?
Goldco Fees (2024)
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. Goldco does not charge any storage fees for cash transactions over $25,000.
Goldco Free Silver Rebate
Here’s the good news for you.
You can currently receive up to 10% in FREE silver on qualified purchases.
Is this Goldco free silver offer legit?
This is a common question that we even wrote a separate post on Goldco free silver offer.
But yes, this offer is legit and true — you’ll receive the free silver rebate if you meet their qualifying criteria:
- Offer is only valid for new customers
- Only applies to qualified purchases
- Offer is up to 10% only (or minimum $100,000 contribution/rollover)
You may wonder…
Do they now actually follow through on this?
Indeed, they do.
Even one of Goldco’s Google reviews confirmed to me that the company kept its word:
Claim your offer here, and wait for Goldco to confirm if you’re qualified!
Next…
IRA Investment Limits and Rules
Now:
I’d like to go over the essential details you should be aware of when investing in a gold IRA, such as IRA investment limits, rules, and associated costs.
To break it down for you, these are the 5 most important things you should know before opening a Precious Metals IRA account in order to make sure everything goes as planned.
1) Contribution limits or rollovers
There are penalties for exceeding contribution limits set by the IRS. However, this applies to cash purchases, not rollovers.
You can rollover any amount of money from an existing tax-advantaged retirement account, such as an IRA, 401(k), 403(b), TSP, or other similar account.
2) Withdrawals
Withdrawing any distributions before you reach the age of 59 ½ incurs a 10% penalty, plus income tax.
3) IRS-approved purity
According to the IRS, obtaining a gold IRA account requires meeting specific metal purity standards.
- Gold must be 99.5% pure
- Silver — 99.9% pure
But don’t worry – Goldco confirms if the precious metals you invest in qualify for an IRA.
4) IRA custodians
Your metal has to be held by an IRA custodian. Storing precious metals at home is prohibited.
Furthermore, if you already own physical precious metals, even if they meet the IRA purity standard, you cannot add them to your Gold IRA account.
5) Receiving your distributions
Once you’ve reached the age of 59 ½, you can receive your distributions in the form of physical precious metals or by selling them for cash.
See our comprehensive guide on Gold IRA tax benefits and rules for additional information.
Goldco Fees: Final Thoughts
There you have it.
That’s basically all there is to Gold IRA investing costs and rules and we hope you got all your answers to the ‘’what is the annual fee for Goldco?’ question.
You already know by now that Goldco is my #1 recommendation when it comes to the best gold IRA companies.
But it also made the top 3 list of the best Gold IRA companies with the lowest fees (and the strongest reputation).
I want to hear from YOU now:
- How do you feel about Goldco fees in 2024?
- Who are you thinking of working with for your Gold IRA investments?
Let me know in the comment section below!
Disclaimer: Gold & Silver Central is for informational purposes only and does not offer any personal financial advice. Past performance does not guarantee future results, and always consult with a financial advisor before making any decisions. We are also reader-supported and may be compensated from the links above.
