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U.S. Money Reserve vs Goldco: The Better Gold IRA is?

Last Updated: September 20, 2022 by Mitt Wilson

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Goldco

highlights

Goldco logo over a black background

BBB Rating

A+

TrustPilot

5-Stars

Free Gold IRA Kit?

yes

Minimum IRA Investment

$25,000

USMR

highlights

the Us Money Reserve logo over black

BBB Rating

A+

BCA Rating

AAA

Free Gold IRA Kit?

yes

Minimum IRA Investment

$25,000

Should you invest in gold and precious metals for retirement investing? My answer is certainly yes. Gold has numerous benefits you can enjoy that help your portfolio in the long run, ranging from being a hedge against inflation and economic uncertainty to preserving and even growing your wealth over time.

Is it better to use a gold IRA to do precious metal investing for retirement? Again, I would say yes. You can fund these accounts with a rollover that protects your existing wealth while giving you gains that are either free of taxes or have reduced taxes to let you make and keep more money.

What company should you use as your gold IRA broker? This is one I can't answer right off the bat. It's too dependent upon your current financial picture and what you're looking for.

There are many gold IRA brokers in the precious metals industry for you to pick from. Goldco is often recommended, and U.S. Money Reserve is another option you can look at. Today, I'll compare both companies.

Goldco vs U.S. Money Reserve: Company Overview Comparison

These are both companies I know well, so I'm happy to share what I know about each of them.

A quick overview of each broker is useful to go through, including the pros and cons.

After that, I'll go into more detail about how they handle rollovers, fees, and ratings and reviews for each company.

Goldco logo over a black background

1. Goldco

Goldco is also known as Goldco Precious Metals. They're a privately-owned business. They get consistently ranked as one of the highest-ranked businesses in the country handling wealth and asset protection.

The company is based in California and headed by Trevor Gerszt. You can buy coins and bullion directly through the broker. You can also create a self-directed gold IRA that lets you invest in precious metals in a tax-advantaged format.

You can fund your self-directed account in one of two ways. First, you can simply use cash for it that has already been taxed as income. Second, you can use pre-tax income that you already invested in another account and do a rollover.

First Class Customer Service

If there's one thing this company is known for, it's customer service. They treat every client with virtual white gloves. In fact, they treat every potential client just as well.

They are often touted as the gold standard for customer service in the precious metal industry, and they're usually rated as the best-reviewed broker in the business. I think that actually helps the broader sector because it's made many other competitors get better at customer service themselves. Still, Goldco seems to stay ahead of the pack.

The trust they earn with their clients fuels their growth. The Los Angeles Business Journal once listed them as a top-20 fastest-growing business in that metropolitan area. In fact, a 2015 issue of Inc. Magazine put them as one of the top three fastest-growing financial services companies across the entire country.

Goldco won Company of the Year at the 2021 American Business Awards. Sean Hannity and other celebrities have endorsed this broker and support their efforts to help people protect their investment assets. I personally think very highly of them, but I also know they're not always the best option for everyone.

Opening an IRA with Goldco

They tend to work out best for those with lots of money to invest. You need $25,000 just for a minimum investment. It's not until you have twice that much that things really get good.

If you invest $50,000 or more, you get two perks. First, they'll waive at least the first year of fees. They'll also match 5% of your investment to a certain point with free silver products.

Their commitment to customer service is an ongoing commitment. You can count on it to last you through your entire experience with them. According to some, they might even overdo it a bit.

401k & IRA Rollovers Made Easy

You'll find that their account creation and rollover services make doing all that super simple. You might even be astounded by just how simple it really is. I love how fast and easy they make it all.

They'll also be very helpful in guiding you through their available products. They can let you know what they've got that the IRS approves of. However, they won't be at all pushy about what you should get for your self-directed IRA account.

While you have precious metals in one of their depositories, you'll have access to educational materials. These will help you learn about investing in precious metals. You'll also keep up with what's going on in the industry.

When it comes time to start pulling out of your account, customer service kicks in again. They might buy back your metals to make liquidation simple and quick. They'll also make it easy to ship your metals to you if you simply want them in your own hands.

They're so eager to help clients invest with precious metals that they might over-communicate their specials and deals. This is a source of many of their BBB complaints. However, they always respond to requests for no more solicitations and make sure their partners do, too.

Goldco Pros & Cons

Pros:

  • Industry Leader in Customer Service
  • A+ Rating from BBB
  • Solid Education Resources for All Clients
  • Seamlesss Precious Metals Investment Experience
  • Get Up to $10,000 in Free Silver on Qualified Orders

Cons:

  • $25,000 Minimum IRA Investment
  • No Palladium or Platinum 
  • Pricing Not Easy to Find on Website

How to Get Started with Goldco

Getting started with Goldco is very easy - the best way to learn about their company is to sign up for their free IRA investing kit:

the Us Money Reserve logo over black

2. U.S. Money Reserve

U.S. Money Reserve is one of the oldest gold IRA brokers in the business. They started operations in 2001. They're located in the Texas capital of Austin.

You can buy bullion products through them as a private collector, but you'd pay taxes on those transactions.

To utilize tax-advantaged investing in gold, you'd need to use a self-directed IRA. U.S. Money Reserve lets you invest in gold and silver products that way, but platinum and palladium options may be limited or even nonexistent.

If you go with a self-directed IRA, you can purchase both bullion and collectible coins.

U.S. Money Reserve has access to both in formats that meet IRS regulations. Gold and silver dominate the potential lineup with some platinum offerings, but don't expect to find any palladium.

Committed to Client Education 

This broker commits itself to client education. That's a common expectation of many customers of precious metal IRA brokers, but not every company commits to it as seriously as others.

U.S. Money Reserve keeps clients informed and educated about precious metals and the associated market via news and knowledge sections on their website that have daily updates as needed.

One unique aspect of U.S. Money Reserve is its president, Philip N. Diehl. He was previously the quondam Chief of Staff for the United States Treasury Department. He also served as the 35th director overseeing the United States Mint.

The fact that their president has so much government experience in regard to coins and financing can certainly be an attractive point to some investors. He brought that experience to the private sector.

 His company has hundreds of millions in assets it is responsible for as he and those working for him try to help investors generate and protect wealth through precious metal investing.

Company Highlights 

You'll have to contact U.S. Money Reserve directly to see what IRA custodians they work with, as well as whether or not you can choose between segregated or non-segregated storage.

 I can tell you that they might be the only gold IRA broker to offer access to a depository in the state of Texas. If the particular state where your precious metals are located matters to you, that might be a factor to consider.

You can try U.S. Money Reserve without making a lifetime commitment right off the bat. If you order coins, you can send them back for a full refund within 30 days of purchase.

This buyback guarantee means you can try them out and still be able to back out if you change your mind.

U.S. Money Reserve takes the security of your precious metals very seriously. Coins you order for yourself get shipped with insurance and a delivery signature is required. This also happens if you choose to take personal ownership of your metals after withdrawing from your self-directed IRA.

Gold is the primary metal that you can invest in with your self-directed IRA. However, they also have silver and platinum options for your precious metal IRA choices. This helps you take advantage of multiple metals in this industry all at the same time.

U.S. Money Reserve Pros & Cons

Pros:

  • Rollover options for current 401(k) plans
  • Online educational resources
  • Broad selection of products, including precious coins
  • Good reviews and ratings

Cons:

  • Only gold or silver available
  • Small Number of BBB complaints
  • Annual fees

Getting Started with U.S. Money Reserve

U.S. Money Reserve all offers a free investment kit to help get you started. You can visit their website to learn more.

Fees Comparison

Fees are necessary for gold IRA brokers and custodians to pay for their services and overhead.

You'll have to pay these on an annual basis. However, you can get them waived based on specials or deals each broker might be running at the time that you contact them.

Goldco Fees

Goldco doesn't charge much for their gold IRAs. Your first year of fees will probably run you $260. Account charges in the following years can run around $180.

You can usually get the fees waived if your investment is big enough. The first year of fees might be waived if you invest $50,000 or more. The other benefit of investing that much is getting a 5% matching in free silver products.

U.S. Money Reserve Fees

U.S. Money Reserve also charges fees for their accounts. One category of the fee is usually for account administration. The other is for custodial costs.

One nice thing about this company is that they usually waive fees for the first year. That's something new clients can take advantage of so their wealth has a chance to grow before they pay anything. U.S. Money Reserve fees usually run $250 per year after that.

Rollover Comparison

The best way to invest in precious metals is by using a gold IRA. Both of these companies offer these kinds of accounts. Doing so not only lets you invest in gold but do so in a way that preserves your wealth by avoiding taxes.

When you fund a gold IRA with a rollover, you can do so from pretty much any other kind of IRA. You can also do it using a 401(k) or a 403(b). In all cases, you can do a rollover that when done right will preserve your wealth without penalties.

Both companies handle rollovers in pretty much the same way. However, there are a few differences. Those might just be the details that make the decision for you about which company to use, if either.

Goldco's Fees

Goldco's process starts with just opening your IRA account. Many people report that they're not able to do that online, which is interesting. A phone call is usually necessary, and you'll have to sign an agreement agreeing to the broker's business terms.

Once you open the gold IRA, you have to fund it. This is where you do a rollover of your previous tax-advantaged investment assets into the self-directed account. Goldco requires a minimum of $25,000 to start an account.

That minimum appears to be set in stone. You have to meet that threshold whether you're doing a rollover or using your own post-tax money to start the account. It's not as high as some of their competitors, but it's still higher than a lot of the rest of the industry options.

Once you fund the account, you'll need to choose the preferred metals you want. They need to meet the IRS eligibility requirements. However, they also need to be things Goldco can get for you, as you're not allowed to put your own previously owned metals into your account.

U.S. Money Reserve's Fees

The rollover process at U.S. Money Reserve follows pretty much the same process. While GoldCo might be known for its customer service, this broker might honestly make it a little easier to open up your account in the first place. Still, that's just something that saves you a few extra moments at the start.

Funding a gold IRA with U.S. Money Reserve via rollover is pretty much the same as through Goldco. You can use a traditional or conventional IRA, Simple IRA, SEP IRA, or Roth IRA. You can also use a 401(k), 403(b), or TSP.

What's different is how U.S. Money Reserve seems to have two different minimum investment levels. For instance, a rollover-funded gold IRA would require a minimum of $25,000, whereas a gold IRA funded with post-tax income would only need to be $6,000 at a minimum. This is a curious and rare instance within the industry, as I'm not sure I've ever heard of anyone else doing this.

Either way, you'll need to buy the metals you want in your account. If you study the history of U.S. Money Reserve, you'll likely find stories about a lawsuit against them for overcharging for certain coins and metals. That did happen, but it was a decade ago. Recent reviews and ratings will show you that this company is very different than they were back then, and I'm by no means saying they were actually guilty of anything malicious then.

Ratings and Reviews Head-to-Head

I'd like to think my own information and opinions hold value in your decision-making process, but there's never any substitute for hearing from your fellow consumers. The opinions of organizations that review all businesses also help.

Fortunately, there is plenty of information available about both of these precious metal brokers.

4.87/5

Goldco Customer Rating Summary

BBB gives Goldco a rating of A+. BBB users have provided hundreds of individual consumer reviews that average 4.87 on a 5-star scale. A few complaints have been resolved, but they've all been answered or resolved.

BBB

A+ Rating with the BBB, low level of overall complaints, and a very solid 4.87 out of 5-star rating.

BCA

AAA rating from BCA. Goldco also averages 4.8/5.0 on TrustLink, Google, and Consumer Affairs. 

CA

ConsumerAffairs readers give Goldco 4.8 out of 5 stars. Reviews indicate Goldco  specialists were thorough and patient. 

3.91/5

U.S. Money Reserve Customer Rating Summary

U.S. Money Reserve has solid ratings from the major rating industries, including an A+ score from the Better Business Bureau.

BBB

U.S. Money Reserve has an A+ rating from the Better Business Bureau. However, they've only been an accredited member since 2020. An average of 45 client reviews puts them at 3.91/5.00.

BCA

The Business Consumer Alliance give them an AAA rating. BCA users average a 4/5-star rating. However, that was based on only seven reviews.

TrustPilot

They boast a 3.6 rating at TrustPilot with one reviewer noting that they had purchased from them a few times, and they offer some of the best pricing in the industry. 

In Summary

Goldco is a company many precious metal IRA analysts list as either the best or one of them, but their high minimum investment level might be too much. U.S. Money Reserve isn't rated quite as high but can still be a good company that's more accessible.

 It's not always about which company is better so much as which one is a better fit for you.

You should consider Goldco if...

  • You want to experience the best customer service in the industry
  • You want to avoid high-pressure sales tactics
  • You want to invest with someone that tries to resolve all their BBB complaints
  • You would also like to explore portfolio diversification that includes cryptocurrencies
  • You want access to client educational resources about precious metals

You should consider U.S. Money Reserve if...

  • You want your first-year fee waived automatically
  • You want to use a depository in the state of Texas
  • You want to start an gold IRA for only $6,000 (non-rollover)
  • You want to invest with a company led by a former U.S. Mint director
  • You want to invest with a five-time Inc. 500 winner

Mitt Wilson

About the author

Mitt Wilson has a background in journalism and has been writing about investing for more than two decades. In his free time he enjoys spending time with his wife, touring the United States, and golfing.

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