We have had the pleasure of interviewing Trevor Gerszt, CEO of GoldCo, also known as GoldCo Precious Metals or GoldCo Direct. GoldCo has been a pioneer in Gold IRA investments for years and also offers silver, platinum, and palladium IRA investments. Recently, the company also launched CoinIRA, their bitcoin IRA division. We wanted to learn more about the company, the mission and get some advice from Trevor when it comes to investing in alternative assets through a retirement account. Enjoy the interview and comment below if you have any questions for Trevor!
Please tell us about yourself and how you got involved with the precious metals industry?
I was born in East London, South Africa in 1980. Growing up, I would collect things such as stamps, cards and coins, but I was always drawn to gold and silver coins. Fast forward to 2000, I started working in the real estate market. By 2008, the markets were devastated by the financial crash. After that I decided to get into an industry that would take me back to my roots and provide a solution. That is how I came to be involved in the precious metals industry.
What is Goldco’s mission and what makes it different from competitors?
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. Gold and silver usually move in opposition to the U.S. dollar and commonly held investments, and therefore, provide a safety net for the typical investment portfolio. 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 on TrustLink, Trustpilot and other review sites. We not only value our relationships with our customers but with our employees as well.
Where do you see Goldco in 10 years?
I see Goldco providing the same great service and great products that we were founded on. I also see us looking forward to the next 10 years after that!
What are Goldco’s most popular products?
Goldco’s most popular products are our low mintage coins. Most of our customers hold these inside their Self -Directed Precious Metals IRAs, but our non-IRA customers appreciate owning these as well. Goldco works closely with the world’s largest mints, but we also have other relationships that allow us to source just about any precious metals product a customer would want.
Why should investors and retirement account holders consider precious metals in their portfolio this year?
With a market that is poised for a correction according to many analysts and experts, precious metals can provide the safety net that most investment portfolios are missing. Diversification is the key to a more safe and balanced portfolio, whether it is an IRA account or non-IRA savings, and an allocation in precious metals can provide that non-correlated asset that can save a portfolio from total loss.
How should investors decide what percent of their 401k or IRA should be allocated to precious metals?
Since precious metals often, but not always, move in opposition to the U.S. dollar and other financial markets, an allocation in precious metals can help to balance a retirement portfolio, protect it against inflation and market volatility, and prevent a total loss in the event of a severe market downturn or crash. With this in mind, investors can see the benefit of maintaining a percentage of their retirement savings in physical precious metals as a safety net. The decision as to the amount of precious metals they maintain in their account comes down to their risk tolerance weighed against the total of the other investments they hold in their retirement savings. They should neither invest money needed for current living expenses and emergencies, nor funds that have been earmarked for a specific future need. Ultimately, they alone will decide what they can comfortably invest in precious metals for the long term.
What are your thoughts on Crypto IRA investments? Do Cryptos like Bitcoin have their place in an IRA?
Goldco’s sister company, CoinIRA, LLC, was one of the first companies in the country to offer cryptocurrency inside IRAs. While we believe cryptocurrency is definitely here to stay, the reality is it is highly speculative and may not be for everyone. Therefore, before electing to invest in cryptocurrency, investors need to do some homework of their own, determine their own risk tolerance, investment amount, and the type of cryptocurrency they feel comfortable investing in. CoinIRA will provide some basic education, but the decision whether to invest, how much to invest and in what cryptocurrency to invest, is strictly the investor’s own decision. We do, however, offer a Self-Directed IRA that can hold both precious metals, cryptocurrency and other alternative investments for those investors who are interested in diversifying their alternative asset allocation beyond precious metals.
There are over 1,000 cryptocurrencies, which ones should IRA investors consider investing in and why?
Certain cryptocurrencies have demonstrated greater longevity and stability than others, and IRA custodians only allow specific cryptcocurrencies to be placed in Self-Directed Cryptocurrency IRAs that have exhibited these characteristics, such as Bitcoin, Ethereum, Litecoin, XRP (Ripple), and a few others. Investors should do their own research to determine what cryptocurrency they are comfortable investing in.
Where do you see the prices of Gold and Bitcoin going in the next 10 years?
I believe the price of gold, silver and Bitcoin in the next 10 years will be at price levels that will make today’s prices a bargain.
- Interview with Trevor Gerszt, CEO of Goldco - March 10, 2020
- Interview with Collin Plume and Charles Thorngren – owners of Noble Gold - November 1, 2019