GoldSilver.com Review

A growing number of investors are diversifying their holdings in their investment portfolios by purchasing metals in response to the increasing volatility of the stock market and political unpredictability.

Gold is notable for its ability to maintain its value over time, even in the face of significant volatility in stock markets, demonstrating that it is an effective hedge against inflation. Real gold is typically preferred by investors with a long-term perspective over gold mining stocks, gold ETFs, and gold receipts.

Because of the proliferation of online gold dealers, it is now much simpler to acquire high-quality genuine gold and have it shipped to your home or stored in a safe deposit box than it ever was before.

However, because it is possible to purchase gold and metal coins that have been tampered with on the internet, you should make sure to do business only with reputable vendors.

You might have come across GoldSilver.com while looking for the most reputable company to work with when purchasing gold or silver bars and coins or adding them to an individual retirement account (IRA).

Before we begin with this discussion, please note the following:

We are aware of how challenging it can be to find a company in which you have complete faith to entrust your hard-earned money. Because of this, we work hard to produce information that is both informative and useful so that we can arm you with as much data as possible to help you make the best choice.

We have compiled a list of the investment firms that come the highest on our list of recommendations in order to make it as simple and straightforward as possible for you to compare and select the firm that is best suited to meet your requirements.

Is GoldSilver a reliable and trustworthy company? What is it that it sells? How do previous customers feel about the time they spent working with the company?

We will address these and other questions in order to ensure that you have a comprehensive understanding of the organization and are able to make well-informed decisions regarding how to spend your hard-earned money.

GoldSilver.com is among the most well-known and widely used online brokerages that deal in precious metals. Customers of this company are given the opportunity to buy gold and silver, have it stored in one of three different countries, and have it shipped anywhere in the world. Their clientele hails from a variety of countries and cultures.

But should one always go with a large organization such as this one? How does GoldSilver compare to other similar products on the market? And are there any warning signs that you ought to be paying attention to?

Set up a precious metals individual retirement account (IRA) with GoldSilver.com if you want to take advantage of the tax breaks that are available to people who hold IRAs but don’t particularly want to invest in additional stocks and bonds.

You can receive assistance from the team in establishing a new account or in rolling over funds from an existing retirement account. They collaborate with IRA custodian companies, which are responsible for ensuring that each IRA is established in accordance with the IRS’s regulations.

The following will provide an overview of the various gold and silver coins and bars that can be purchased from GoldSilver.com. A good number of these coins and bars are acceptable to the IRS for storage in an individual retirement account (IRA). According to these regulations, the purity level of gold must be at least 99.5%, and the purity level of silver must be at least 99.9%.

About GoldSilver.com

In the field of precious metals, GoldSilver is consistently ranked as one of the most well-known brands. Since 2005, it has been supplying investors with educational opportunities as well as services relating to global bullion dealers.

It offers a wide variety of bullion products, worldwide shipping, secure private vault storage, and a number of payment methods that are both simple and convenient. The goal of the company is to streamline the investment process for precious metals as much as is humanly possible.

If you want to place an order over the phone or have questions about home delivery, vault storage, or particular products, you can talk to a representative of the company online, send them an email, or start a live chat session.

Mike Maloney, the creator of GoldSilver, is also the host of Hidden Secrets of Money, a former Rich Dad/Poor Dad counsellor, and the author of a book that has been very successful. Maloney manages the company (Guide to Investing in Gold & Silver).

A video library can be found on the website of the company, and it serves the purpose of educating investors about precious metals and how they can use them to enhance their wealth.

When you make a purchase on GoldSilver.com, you can choose from a variety of payment methods, such as bank wire transfers, PayPal, credit cards, Bitcoin Cash, and Bitcoin itself, among other available choices.

Since 2005, GoldSilver has been operating within the precious metals sector of the industry. In addition to providing customers with opportunities to purchase precious metals through their marketplace, they also provide customers with opportunities to learn more about silver and gold. Even though their main office is located in Santa Monica, they ship all over the world and collaborate with vaults in a number of different nations.

The very nature of the business suggests that its primary focus is on precious metals, specifically gold and silver. You won’t be able to find any metals like palladium, platinum, or copper, but you will find a wide variety of bullion and products to choose from. You might want to consider working with a different company if you’re interested in investing in metals and want access to a wider range of options.

Because it is an online marketplace, the company makes it simple to choose the bullion you want and complete the purchase. You have the option of having your metals delivered directly to you, but you also have the choice of having them delivered to a “storage” location. If you follow these steps, a new account will be created for you at the self-storage facility of your choice as soon as you submit your paperwork.

This account operates in a manner that is very comparable to that of a brokerage account. You can log in from the convenience of your couch and look at your holdings and portfolio whenever you like. You will have information at your disposal regarding the manner in which the value of your holdings has evolved over the course of time. Additionally, you are able to conduct transactions by using this control panel.

When you use the company’s storage options, you are assured that you will always have the option to transfer, sell, or have your precious metals delivered to you at any time you choose, even if you take advantage of the company’s guarantee.

Company Management

Mike Maloney, who serves as both the CEO and founder of the company, is the driving force behind the enterprise. In 2005, he established GoldSilver, and he has been the CEO of the company continuously since then. His experience in giving financial advice comes in handy in this situation.

Mike Maloney is the host of a web series that discusses finances and investments. In addition to that, he is a best-selling author of books on the subject of investing in precious metals. These certifications help to differentiate the company from the competition of precious metals dealers that are currently available on the market.

Storage Options

You are able to keep your precious metals in vaults that are fully insured and are independent of the global banking system. This eliminates the need for you to be concerned about the assets being repossessed by the government or being subject to taxes. As a result of the fact that each storage facility utilizes segregated storage, you are the only person who can access your metals.

There are various options for creating an account to choose from. You have the option of opening a separate account for your personal investments or a joint account with your spouse if you both want to start investing. You might want to use trust or limited liability company accounts for investments that have a higher degree of complexity.

Each and every safe deposit box is managed by either the International Depository Services Group or Brinks, two of the most reputable security companies in the entire world. Vaults can be found, in addition to the locations in Dallas and Salt Lake City, in the following cities:

  • Hong Kong
  • Singapore
  • Toronto, Canada

Within the context of an individual retirement account (IRA), the organization does have a preferred partner who can serve as a licensed custodian to manage your vault. The majority of the time, they collaborate with Equity Trust. However, there is a possibility that some people have another custodian in mind. The company is open to collaborating with reputable custodians such as the Strata Trust Company, the Goldstar Trust Company, and the New Direction IRA, among others.

Why Should You Invest in Gold with Your IRA?

Individual Retirement Accounts (IRAs) offer protection not only for your own retirement but also for the financial stability of your family.

With one of these specialized accounts, you won’t need to worry about paying taxes on the money you put away for the future.

When it comes to these long-term accounts, it is essential to invest a sizeable portion in assets that are stable and trustworthy in order to ensure that you can enjoy a carefree and comfortable lifestyle when you reach retirement age.

You can put cash in an individual retirement account (IRA), but the value of that cash is falling at an alarming rate because inflation is out of control.

You require an asset that is reliable, keeps its value over time, and even increases in value over time, and there is no asset that is better suited for this purpose than gold.

Uncertainty is at an all-time high due to the fact that the global economy is struggling due to lockdowns, shortages, wars, and inflation. As a result, investors are protecting themselves by placing physical gold in their individual retirement accounts (IRAs).

A gold IRA investment does well even in times of economic turmoil, which are bad for the majority of other asset classes.

Risk is being aware of the potential financial threats but taking no action to protect oneself and one’s family from them.

A Gold Individual Retirement Account (IRA) makes it simple to protect one’s financial future from a variety of potential threats, including those posed by the economy.

Precious Metals IRAs

Self-directed individual retirement accounts (IRAs) can take the form of precious metal IRAs. Users of self-directed individual retirement accounts (IRAs) have the ability to invest in a wide variety of non-traditional assets, such as precious metals.

Including gold or other precious metals in your retirement plan may be beneficial for the preservation of your wealth in a number of ways. These include reducing the potential investment volatility and risk, serving as a hedge against economic downturns, and providing a tax-efficient vehicle for potential gains.

Through precious metal IRAs, you have the opportunity to make investments in silver, gold, platinum, or palladium. Although GoldSilver.com only sells gold and silver, the products they offer do meet the requirements set forth by the IRS for precious metals.

You are able to receive assistance from the staff of the company if you wish to open a new account or roll over money from another retirement plan.

They work together with IRA custodian companies to ensure that each IRA is set up correctly in accordance with IRS standards (their gold and silver metals are more than 99.5 percent and 99.9 percent pure, respectively).

GoldSilver.com Products

GoldSilver takes great pride in providing its customers with the most trustworthy and liquid bullion products that are currently on the market. It is the only place you’ll find gold coins, bars, and jewelry from the most reputable mints. The following are some of its gold products that are particularly popular:

Gold Coins

  • Gold American Buffalo Coins
  • Gold South African Krugerrand Coins
  • Gold Austrian Philharmonic Coins

Gold Bars

  • 1-ounce gold bars
  • 10-ounce gold bars
  • 400-ounce gold bars

Gold Jewelry

  • A stunning collection of 24- and 23-karat gold jewelry

The range of silver bullion bars, rounds, and coins offered by GoldSilver is the most user-friendly and accessible for investors on the market. Traditional silver coins, such as the American Silver Eagle and the Canadian Silver Maple Leaf, are among the products that this company offers.

In addition to this, it offers a diverse selection of rounds produced by private mints at prices that are affordable. In addition to that, it produces specialized collections of silver rounds that are known as the Modern Ancients.

These customer favorites are an excellent way to diversify your investment portfolio and profit from metals that are 99.9% pure at a price that is significantly lower than the price of most coins currently minted by the government. The following are some of the company’s silver products that are best sellers:

Silver Coins

  • Silver American Eagle Coins
  • Silver Austrian Philharmonic Coins
  • Silver Britannia Coin
  • 1-ounce silver rounds

Silver Bars

  • 10-ounce silver bars
  • 1-kilo silver bars

You have the option of using allocated storage or segregated storage. The least expensive storage option is called allocated storage, but it does not keep your belongings separate from those of other people’s holdings. They do not charge a flat monthly fee but rather a fee equal to 0.06 percent of the value of your account.

That is a ridiculously low price in light of the fact that some offshore companies charge significantly more for storage. However, if you plan to store a significant amount of wealth in the account, you should consider looking for a company that charges flat fees rather than variable ones.

No matter how much money you have in your account, there is a monthly minimum charge of four dollars that must be paid. Once you reach 10,000 dollars, your monthly fee will be approximately 6 dollars; once you reach 100,000 dollars, your monthly fee will be approximately 60 dollars.

You are in no way required to sign any contracts, and you will only be required to make payments for the duration that you make use of the storage services. If you take your precious metals out of the vault, you won’t have to pay any of the fees that are associated with keeping them there. Whenever you want, you have the option of having your metals moved to a vault that is not operated by GoldSilver or having them delivered directly to your home.

The minimum requirement for the segregated storage option is thirty-five dollars (USD) per month for each metal stored; this rises to seventy dollars (USD) if you store both gold and silver. Once your holdings are worth more than the required minimum of $35, you will be subject to an additional fee equal to 0.08 percent of those holdings.

At this price, your precious metals will be individually wrapped and shelved, and they will be kept separate from the possessions of other customers. You and the person serving as your custodian are the only ones who will ever have access to them. You are free to alter your storage strategy whenever the mood strikes you.

Where can I purchase the Finest Gold?

Although the purchase of gold bullion coins is a tangible way to acquire investment-grade gold — provided that well-known mints produce them with the highest possible quality, purity, and liquidity — gold bars have been a trustworthy form of value storage for centuries.

Gold bars, on account of their adaptability, are appropriate investments for a diverse range of buyers and sellers. Because of their lower premiums, gold bars are more desirable than gold coins as a form of investment. Gold bars are purchased by stock exchanges, central banks, and various other entities, and this is one of the reasons why.

Gold bars serve another purpose as well: they are designed to be easy to store. These advantages are available to smaller investors as well; purchasing gold bars gives you the most ounces for your money and enables you to store it in some of the same facilities that are available to more prominent investors.

However, because gold rounds do not have a face value, the mint that produces them is an essential business. Because of this, bars are the best choice.

Storage Options

You are able to store your valuable metals in vaults that are fully licensed and insured, but which are not affiliated with any of the world’s banks. You won’t have to be concerned about the government seizing your assets or taxing them because they won’t have access to them.

Because each storage location makes use of segregated storage, this means that you will be the sole owner of the metals that you store there.

The organization provides a number of different account types. You have the option of opening an individual account type for your investments, or if you are investing with a spouse, you can open a joint account type. For more complicated investment portfolios, you might consider using trust or limited liability company accounts.

Each vault is managed by either Brinks or International Depository Services Group, two of the most trustworthy security companies in the world. In addition to locations in Salt Lake City and Dallas, vaults can also be found in the following cities:

  • Hong Kong, China
  • Singapore
  • Toronto, Ontario, Canada

The organisation can refer you to one of their preferred partners if you need a qualified custodian to manage the vault for your IRA. They work closely together with Equity Trust on a regular basis. However, there are those who may have a different conception of what a custodian is.

The company is interested in forming partnerships with reputable custodians such as Goldstar Trust Company, Strata Trust Company, and New Direction IRA, among others.

GoldSilver.com provides customers with the option of safe vault storage provided by Brinks Global Services. Your name will be associated with the orders that are saved in one of these private vaults. At any time, you are able to transfer or sell your metals with ease as well as request them for your own personal holdings. You have the option of selecting either allocated or segregated storage to fulfil your needs.

Shipping and Insurance

Free shipping is provided for orders that exceed $499 at GoldSilver. For orders that are less than this amount, a free delivery charge in the amount of $25 will be applied. GoldSilver takes extra precautions to safeguard each individual item as it packs and prepares orders for shipment.

In addition, orders are wrapped discretely to prevent others from uncovering the contents of the package they have received. GoldSilver.com will often divide orders that are greater than $75,000 into multiple consignments in order to protect the integrity of your financial transaction.

GoldSilver does insure parcels during transit. In the event that anything, including loss or damage, occurs to your hard assets while they are being transported, you will not be held liable for it.

Transportation and Safety Measures

Free shipping is provided for all orders that exceed $499 on GoldSilver.com. For orders that are less than this amount, a delivery fee of $25 will be waived. GoldSilver.com takes great caution and wraps each individual item to ensure that it is protected during the packing and shipping process.

In addition, orders are discretely packaged so that no one but the recipient will know what is contained within the box. Orders that are greater than $75,000 are typically broken up into multiple shipments by GoldSilver.com to ensure the safety of each individual customer’s purchase.

GoldSilver.com does, in fact, offer shipping insurance for packages while they are in transit. You won’t be held responsible in the event that something unfortunate, like loss or damage, occurs to your precious metals while they are in transit.

GoldSilver.com is not like other precious metals investment companies in that it does not exclude the possibility of delivering orders to locations outside of the United States. They deliver packages to almost all of the countries in the world. You can view the total cost of international shipping by adding items to your shopping cart. This is necessary because the cost of shipping can vary greatly depending on the country that is selected.

Selling to GoldSilver.com

If you are interested in selling precious metals, you can contact GoldSilver to see if they will buy them from you. However, the company will only buy precious metals if the condition of the item is satisfactory. In addition, they will only buy products in the increments that are specified on the page.

In order to sell to GoldSilver.com, you need to first ensure that you meet their requirements and then create an account on their website. After receiving this information, GoldSilver will check to see if the metals you want to buy are available for purchase and then give you the shipping instructions.

You are responsible for paying the postage costs associated with sending out your purchases. Following the receipt of and examination of your precious metals, you will then be given your payment. Either a wire transfer or a check will be used to make your payment (there is a fee of $25 associated with wire transfers).

Signals of Caution Regarding GoldSilver.com

When looking to invest in precious metals, it is important to find a company that has a stellar reputation and can be relied upon as a business partner. It is not always the best method to gain a comprehensive understanding of an organization by looking for information on the website of the company in question.

You should read reviews written by real customers who have dealt with the company in the past before making any decisions that are particularly important to you.

As a result, we decided to take the initiative to investigate GoldSilver.com’s standing. Based on our investigation, the Better Business Bureau gave it a grade of C. Additionally, the agency mentioned that GoldSilver.com does not possess accreditation.

On the other hand, it was ranked as having a AAA rating by Business Consumer Alliance, 4.3/5 stars by Trustpilot, and five stars by TrustLink, respectively. Given that more than 1060 users have given it a rating on Trustpilot, it should come as no surprise that the company has a good reputation.

GoldSilver is not a fraudulent business. They are one of the most well-established and largest offshore precious metals holdings companies in the industry. Their operations are based in offshore locations. They have received an average of 4.1 out of 5 stars on Trustpilot, which is based on the 1,048 customer reviews.

The fact that only 76% of respondents rated the company as excellent is something that should be concerning to anyone reading these reviews. Only 2% of respondents gave the maximum of 3 stars, while 6% gave only 1 star. This indicates that approximately ten percent of customers were left with an extremely negative impression of their overall experiences.

There are businesses that have a much better track record with their customers than other businesses do. You should probably look into getting one. While we wait, let’s take a look at some of the negative feedback that has been posted.

Complaints from End Users

According to one of the more recent reviews, a customer stated that they sold their gold coins and shipped them using the United States Postal Service. A member of the customer service team verified that the package had arrived without incident and had signed for it. After a week had passed, this customer still had not been provided with their payment, and they were dissatisfied with the responses they were receiving from the company.

According to the customer, a manager told them that they would call back later that day after filing the complaint on the day that they did so. No call ever came. The individual stated that they were considering making a complaint to the Better Business Bureau as well as to the police.

The company gave a response in which it stated that the delays were due to their own negligence and that they accepted responsibility for them. They forwarded the payment the following business day after the complaint was received. The response indicated that there was a problem with the manner in which they processed incoming metals and that efforts were being made to ensure that this did not occur again.

Another customer stated that they had been waiting for their order of silver to be delivered for more than two months at this point. When they finally got a response from the company, the representative informed them that the order had been cancelled. They stated that it was the responsibility of the customer to be present in order to sign documents.

The customer expressed their extreme frustration by stating that no one had ever made an effort to get in touch with them. They had not been reimbursed for the metals that they had returned.

The company responded by saying that the customer was intentionally mischaracterizing the interaction, and that the customer had also ignored the package at international customs despite knowing that it was there. In addition, the company said that the customer was intentionally mischaracterizing the interaction.

Real Customer Reviews

“It’s difficult to put a value on my experience. I submitted a purchase order. The delivery time was between two and three weeks. Today is 3 weeks. I have inquired via email as to the status of my delivery. The response was that the delivery would take between two and four weeks. When I placed my order, it would be another 2–3 weeks.

Why isn’t GoldSilver delivering?”

On Trustpilot: Charlie J.

“Mike possesses an impressively high financial intelligence. You would do well to pay attention to his words and his warnings about the impending economic storm and the wealth transfer it will confer on those who have taken the time to moor their financial well-being to the rocks of gold and silver. You would do very well to heed his words and his warnings about the impending economic storm.”

  • Robert K. on TrustLink

Is GoldSilver.com a Fraudulent Website?

GoldSilver.com is not a scam, to contradict you. Since 2005, they have established themselves as a reliable precious metals trader. GoldSilver.com has received a great deal of positive feedback from its patrons.

On the other hand, there are a few problems with this company that might suggest you should look elsewhere. To begin, GoldSilver.com has a rating of C from the Better Business Bureau because it is not an accredited business. According to the website of the Better Business Bureau (BBB), they were given a rating of C because they did not respond to a complaint that was filed against them.

Consequently, you might be wondering why the problem wasn’t addressed. During the past three years, GoldSilver.com has been the target of two customer complaints. Although two is not nearly as much as zero, it is still a significant increase; precious metals traders have not expressed any dissatisfaction with this development.

GoldSilver.com is the only website that offers coins and bars made of gold and silver; they do not sell platinum or palladium. Many precious metals businesses now sell platinum and palladium in addition to gold and silver. The addition of platinum and palladium to your investment portfolio is an excellent way to broaden its scope.

Another one of GoldSilver.com’s drawbacks is the price it charges for shipping. For customers to qualify for free shipping, the company requires a minimum purchase of $499. There are some businesses that will ship your purchase at no cost if it is less than $50.

Pros

  • Your precious metals can be stored in one of the company’s vaults located in any of its three countries, giving you the flexibility to select the location that provides the greatest potential return on investment.
  • You are not restricted in any way in selling or controlling your holdings.
  • The secure storage vault operated by the company is not bound by any obligations or contracts.
  • It is possible for precious metals to be shipped to you via USPS, UPS, or FedEx anywhere in the United States or the rest of the world.
  • You have the option of storing precious metals in vaults in one of three countries, giving you the flexibility to select the location that offers the greatest financial benefits.
  • You are free to get rid of your holdings and exercise control over them without any hassle or complication.
  • The use of vault storage comes with neither a contract nor any obligations.
  • You can have precious metals delivered to you anywhere in the world by using the United States Postal Service, United Parcel Service, or Federal Express.

Cons

  • Other than gold and silver, there are no other precious metals that can be obtained.
  • A number of unhappy customers who provided feedback regarding the company’s management and day-to-day operations.
  • There are no other precious metals available apart from gold and silver.
  • There are some unsettling comments made by customers about the management and procedures of the company.
  • IRA-approved bullion is frequently unavailable in the market, which can be extremely frustrating for individuals who are interested in opening a retirement account in precious metals.

Final Verdict

Without a shadow of a doubt, the majority of the top ten metal dealers offer services that range from excellent to almost impeccable. According to the assessment that was presented earlier, there is no justification for avoiding GoldSilver.com.

Both new and existing customers are satisfied with the high quality of services provided. Aside from the fact that its owner is one of the most recognizable individuals in the industry, all of the questions regarding its credibility are addressed on the website in question.

However, given its poor rating with the Better Business Bureau (BBB), exorbitant shipping fees, and a limited selection of precious metals, it is understandable if you decide to go with one of the other available options.

Although GoldSilver.com is a trustworthy company, we do not recommend doing business with them. They are not a scam, but they are not the best option for investments in gold and they are not IRAs like some of the other companies that we have written about on this website.

GoldSilver is among the most well-known and widely used online dealerships for those looking to purchase gold and silver. However, there is a possibility that it is not the best dealership available. In addition to having a number of customers who are unhappy with the service they received, the business frequently runs out of bullion.

It is challenging to determine whether or not their prices are competitive enough to be relevant. In general, this is not a terrible company; however, it is simply not impressive enough to come highly recommended from anyone.

 

Leave a Comment