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Ripoff Report | GoldCo Business | GoldCo™ Review - Woodland Hills, CA
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Report: #1498985

Complaint Review: Ripoff Report | GoldCo Business | GoldCo™ Verified TRUSTED Business consumers can trust. Gold & Silver precious metals IRA investment providers. Goldco committed mission to help consumers with simple, effective proven options to safeguard and grow their retirement savings Los Angles California - Woodland Hills CA

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  • Reported By: Lucky — TX United States
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  • GoldCo Business | GoldCo™ Verified TRUSTED Business consumers can trust. Gold & Silver precious metals IRA investment providers. Goldco committed mission to help consumers with simple, effective proven options to safeguard and grow their retirement savings Los Angles California 21215 Burbank Blvd, Suite 600 Woodland Hills, CA United States

GoldCo. TRUSTED Business REVIEW: GoldCo has more than a decade of experience and thousands of satisfied customers, the Goldco team remains committed to their mission to help individuals safeguard and grow their retirement savings.

*UPDATE: GoldCo. recognized by Ripoff Report Verifiedâ„¢ as a safe trusted business service.

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Ripoff Report Verified™ REVIEW

EDitor's UPDATE: Positive rating and recognition has been given to GoldCo. for its full commitment to quality customer service.

Ripoff Report's discussions with GoldCo. have uncovered an ongoing dedication by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any concerns. GoldCo. listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.

Goldco’s Founder, Trevor Gerszt, was born in East London, South Africa. Growing up, he would collect things such as stamps, cards and coins, and was always drawn to gold and silver coins. Fast forward to 2000, he moved to the States and started working in the real estate market. By 2008, the markets were devastated by the financial crash. After that he decided to get into an industry that would take him back to his roots and provide a solution that offered financial growth and stability. That is how he came to be involved in the precious metals industry and founded Goldco.

One of the things Ripoff Report learned in the course of its review is that typical customer feedback reads, "Everyone involved in my purchase were professional and courteous and especially excellent communication. Just to be told what was going on with my transaction from the company that was sending me my check was great. The purchase of silver went very smoothly. I give Goldco 5 stars.” – A. Avalos – Verified Customer, TrustPilot

The information provided in this report below is based on comments made from an interview with GoldCo

GoldCo. is a privately held company in Los Angeles specializing in wealth and asset protection with physical gold and silver. It offers customers who are interested in diversifying their retirement portfolios the chance to place gold and silver in a retirement account by facilitating the opening of a Self Directed IRA. Investors can also purchase precious metals from the company for non-retirement purposes. Goldco has been named the #1 gold IRA provider in the U.S. by Inc. 500.

Leads for GoldCo come from an interested investor would request a Gold IRA guide and speak with a representative who can answer any questions.


An example of an unsatisfied customer experience was specifically around the coins preferred to fund their account. After the customer opened their account and wanted to invest in precious metals, they were seeking specific coins that were no longer available. We were able to find comparable coins that meet the IRS guidelines for coins that can be placed into a self-directed IRA. The customer was eventually satisfied with the transaction.

We have a dedicated team for customer inquiries. A customer would call their Account Representative who would be the first point of contact to speak with the customer and identify the issue. If it cannot be resolved, then it escalates to our Customer Relations Manager to rectify the situation. For more complex issues, members of our Management team are accessible and partner with customers to remedy the situation.

Fortunately, we have very few instances that have required escalation and are proud of our high ratings and thousands of customer reviews.


" Goldco’s mission is to help its customers maximize the diversification of their investments by offering the protection of alternative assets such as physical gold and silver. Goldco has always been a respected industry leader in the precious metals space.”

“Customer care and satisfaction are our number one priority, and that has allowed us to maintain an A+ rating with the Better Business Bureau, and the highest of consumer ratings. We not only value our relationships with our customers but with our employees as well. When you become a Goldco customer, you become a member of our extended family.”


Goldco recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Ripoff Report's review, Goldco has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience.

GoldCo has made the following improvements:

Product Training: We conduct regular training for our sales and customer service departments about our products, the value and availability of our metals as well as how to provide information for investors who are considering adding precious metals to their portfolios.

3rd party emails: We have implemented multiple ways for subscribers to opt in / opt out of emails at any time for any reason.

In summary, after our review, which included discussions with CEO Trevor Gerszt, Ripoff Report is convinced that Goldco is committed to quality delivery of services resulting in total client satisfaction.

Gold and Silver Continue to Soar Gold and silver have surpassed analysts’ expectations and will only continue to gain value as the world economy weakens. How far will they continue to climb?

We’re not even two-thirds of the way through the year and gold and silver have already taken out the price targets that Wall Street analysts set for them at the beginning of the year. Back in January the analyst average for gold was a little over $1,300 an ounce and the average for silver was a little over $16 an ounce. Even the most bullish gold analysts saw gold topping out at $1,475. Yet just last week gold broke through the $1,500 barrier and silver topped $17. Where will they go from here? Visit our website to understand more. https://goldco.com/gold-silver-continue-soar/

How does a business get Ripoff Report Verified™

The member business allows Ripoff report to email everyone from the past. Those who respond to Ripoff report with a valid complaint must be take care of. They have made a commitment that if anyone contacts Ripoff Report in the future, they will make things right within 14 days. The member business must err on the side of their customers. Otherwise the member business is off the program.

Ripoff Report has determined that GoldCo. meets Ripoff Report Verified™ standards which include a commitment to make a good faith effort to resolve any consumer complaints. Members of the Corporate Advocacy Business Remediation and Customer Satisfaction program do pay a fee for our on-site review, 24-hour monitoring and for support with customers to resolve any disagreements.

Ripoff Report sends a 3rd party service to do an onsite inspection of the new member business. The on-site inspection / review does not mean that the products or services offered by the business have been evaluated or endorsed by Ripoff Report and has not made a determination as to the business' product quality or competency in performing services. We can verify, that Ripoff Report went to the business, verified their business or “work from home business”, there for, if a customer in the future does not get treated correctly, Ripoff Report can get the problem resolved. If not, and the customers is right, the member business will be taken off the Corporate Advocacy Program. Remember, Ripoff Report emailed every customer from the past that filed a complaint to make sure the member business made things right with customers from the past. Again, to err on the side of their customer, those from the past and those in the future.

Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program, a program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. This program works.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program, they agree to allow Ripoff Report to contact every client who filed a complaint, so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses, so we can ensure that the member business did right by their customer.



Goldco Woodland Hills CA


Ripoff Report would like to let readers know that Ripoff Report emailed this customer, so the member business could make things right with them. When a business joins the Corporate Advocacy Program, Ripoff Report emails everyone from the past so the member business can make things right with them. Of course, everything within reason. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses, so we can insure that the member business did right by their customer.
The author of the Ripoff Report below never responded to our offer to help them. The Review below should be ignored.





I was lucky!  This week I narrowly escaped flushing ~$25,000 of my life savings down the toilet.

I am new to gold/silver investing. I can see there is a dollar crisis looming, and wanted to roll a large portion of my IRA into a self-directed IRA and buy physical gold. So I researched precious metals dealers online, and found Goldco was very highly rated. (These ratings are paid-for or contrived, I would come to find later.) Goldco rep David Taylor was extremely helpful and responsive, answered all my questions, assured me that Goldco markups were some of the lowest in the industry, and sent me the paperwork to set up an account with a trustee/custodian to handle the SDIRA rollover. We agreed that silver coins made the most sense for me, and I placed an order for American Eagle proof coins from the Perth mint. THEN I GOT THE ORDER CONFIRMATION: 

Silver American Bald Eagle - 1oz     Qty 667    $74.90 

What the heck did I just buy??? The spot for silver that day was ~$26.50; this price was nearly triple! I was shocked. I frantically googled "silver american eagle proof" and -boom- there were ebay and other trade sites selling 1oz coins for $35-40. So I emailed Goldco, asking 1) why so expensive, and 2) why this email "receipt" doesn't even say "proof" (much less anything else about year/grade/packaging)?  What followed was a flurry of emails from David Taylor with PDF flyers (Goldco produced marketing, of course) detailing why "proof coins" are so rare/shiny/desirable/less taxable as to command a premium. Premium indeed! 

Thank God I was able to contact my trustee/custodian and remove Goldco as an authorized dealer on my account. I found another dealer - a family business - that was reasonably priced and did not try to upsell me into a ridiculously overpriced or high commission product. In the end bought almost double the amount of silver by weight, AND 10oz Platinum bars. Had I purchased those 667 silver coins from Goldco, I could not have sold them for even HALF what I paid. It would have been the most expensive mistake I have ever made. Please spare yourself the heartache, if it's not too late. 

The Professional Numismatists Guild (PNG) maintains a list of accredited dealers, who hold to a strict code of ethics. It may be a good place to look for a precious metals dealer who won't take you to the cleaners.  That list is searchable at apmddealers dot org. 

Here's a quote from the PNG:

"The personal finance market is filled with slick advertisements touting gold bullion coins labeled with a superb grade or in holders with decorative, autographed inserts. These may be fine collectibles for some, but you could pay more than twice the value of the precious metal content of the coin. There certainly are better ways for investors to buy bullion coins much closer to their actual intrinsic value," Barry Stuppler, president of the Professional Numismatists Guild

Here's a quote from the website of the dealer that I decided to work with:

"We have spent years consoling clients that found us AFTER they funded their gold IRA.  Many of them had fallen victim to the most common Gold IRA Review Scam in the market, believing that they had found credible Gold IRA review sites, only to find that these “reviews” were empty copied content from a gold dealer, by people who have never owned a precious metals IRA.  Worse yet, they often found that they landed with a dealer that sold them overpriced gold and silver for their precious metals IRA, the very dealer that was rated #1 in the 'reviews'.""



This report was posted on Ripoff Report on 08/20/2020 09:24 AM and is a permanent record located here: https://www.ripoffreport.com/report/goldco/woodland-hills-ca-overpriced-1498985. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#3 Author of original report

I was mistaken about one thing

AUTHOR: Alan - (United States)

POSTED: Thursday, September 10, 2020

Update 09/10/2020 :
I removed my claim about the coin design dating back to 2014. I see the front side design is different. Sorry for the error.
Notwithstanding, I'm holding in my hands right now your marketing flyer for the coin you sold me that says "Goldco Exclusive" on it three times. Exclusives like this exist to prevent comparison shopping - to pad Goldco's margins, NOT because there's some huge demand in the market for 'limited mintage' premium proofs. I encourage all would-be investors to make a couple phone calls to Professional Numismatics Guild dealers, and see what a professional coin dealer thinks about 1) the market value of Goldco's proof coins, and 2) the wisdom of buying hundreds or thousands of them for your IRA. I made those calls, and it confirmed to me that Goldco are con artists. This review was written to save other hapless investors from making the same mistake I did.

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#2 Author of original report

"confusion surrounding the coin's value"

AUTHOR: Alan - (United States)

POSTED: Friday, September 04, 2020

Goldco's response is totally consistent with what I've already written. They're great...right up until the point they pilfer half your retirement savings selling you beautiful, grossly overpriced, premium proof coins. Let's not pretend that your "confusion surrounding the coin's value" is accidental. It's essential.

One quibble, regarding this coin you sold me -- the one you say is a "new coin." As a business manager at Goldco, you mush be aware that the Perth Mint has been producing this design since 2014. There's nothing new about it, save the "2020." Source: bit.ly/3hXildH

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#1 UPDATE Employee

We’re Not Happy Until You’re Happy

AUTHOR: Goldco - (United States)

POSTED: Tuesday, September 01, 2020

Goldco appreciates your feedback because we take customer service very seriously.  We want to make sure we are on the same page about the coins you were going to purchase.  You are correct that the 1oz 2020 Silver American Bald Eagle (Reverse Proof) is minted by the Perth mint.  But, there may be some confusion surrounding the coin's value and the process Goldco uses when purchasing coins back from customers. The reason that you could not "shop" the 1oz 2020 Silver American Bald Eagle (Reverse Proof) is because it is a new coin and is, therefore, not readily available.

You claim that the coin is overpriced because it retails for quite a bit above the melt value.  Because you never went through with your purchase and never had the opportunity to to sell your coins back to Goldco, you would not know that Goldco frequently buys coins like those from its customers at amounts far exceeding the weight of their metal because its buyback pricing tracks the actual value of the coins it buys and sells. 

Having said that, Goldco offers a myriad of metals from which customers can choose.  As you noted in your review, we answered all of your questions and our customer service is excellent.  If we had reason to know that the coin your contemplated buying was not what you were looking for, we most certainly would have offered you other options.  We wish that you had given us the chance to address your concerns and offer metals that may have been better suited for your needs.

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