Gold Gate Capital is a LA-based precious metals dealer that entered the industry in 2015. It doesn't disclose any information about its team members nor does it mention its products' prices on its website.
What is Gold Gate Capital?Gold Gate Capital Locations, Timings, Email, Phone, Services
Gold Gate Capital, based in Los Angeles, is a well-known precious metal investing firm. The company specialises in retirement products and IRAs based on the reliable and solid foundation of silver and gold.
Though there isn’t much information on the site regarding its background, Gold Gate Capital was founded in 2015 and currently has many owners with more than a decade of expertise in buying and selling gold.
It is also known as GGC and is the Better Business Bureau accredited business and a member of the Inc Top 500. GGC helps clients in making gold and silver investments, open IRAs, and sell any precious metals they no longer require.
It offers a wide range of gold and silver products. The Gold Gate Capital review below will help clients determine whether this company is worth their money.
Address: 5250 W. Century Blvd Unit 501A Los Angeles CA 90045
Timings: Mon-Fri, 6 am to 6 pm & Sat, 7 am to 3 pm
People Behind Gold Gate Capital: CEO, Owner, Co-Founders & MoreWho owns Gold Gate Capital? What is the management team behind Gold Gate Capital?
Gold Gate Capital provides no information about its team members, which is not a positive sign for the company’s credibility.
According to sources, Chris Seebert is a Chief Executive Officer of GGC, but we couldn’t find anything about her on the internet. However, after doing an online search for the GGC team, we discovered the following two team members’ LinkedIn profiles:
Matt Calabrese: Senior Managing Director
Matt Calabrase is a senior Managing Director at Gold Gate Capital. He joined the company in 2019 and has since held several positions until being promoted to Senior Managing Director. He previously worked as a Global Project Manager at Morgan Stanley for 9 years.
Matt received his bachelor’s degree in Finance & Financial Management Services from the University of Maryland. He holds a Master of Business Administration from UCLA.
Austin Bird: Account Manager
Austin Bird works as an Account Manager at GGC and as an Investor Relations Specialist at RiverBound Custom Development. He joined GGC in 2022 after working as a Mortgage Loan Officer at loanDepot. He began his working profession at MISTRAS Group, Inc. in 2001. Austin has a psychology degree from Whatcom Community College and a computer science degree from Bellingham Technical College.
Gold Gate Capital Products: Bullion Coins, Bars, And Rare CoinsAll products offered by Gold Gate Capital
Here, the company offers an array of products, most of which contain a significant amount of gold. Gold is not only precious, but it also tends to hold its value. GGC allows customers to purchase gold coins or gold bars.
The coin contains one ounce of gold and is available in separate lots. Individual coins are packaged in a plastic flap to keep them secure during shipping. Customers can also purchase 500 coins in Monster Boxes or 200 coins in tubes from GGC. GGC also sells the following gold coins:
American Gold Eagle
Austrian Gold Philharmonic
American Gold Buffalo
Gold South African Krugerrand
Gold Canadian Maple Leaf
Gold Rose Crown Shield
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Gold bars are useful as part of an investment portfolio and are simple to store. GGC includes a certificate of authenticity with every gold bar it offers. This certificate specifies the mint that created the coin as well as its total weight in gold.
The site’s one-ounce gold bars are.9999 gold and come with either plastic or paper wrapping. Clients can also select one-gram gold bars and 10-ounce gold bars. The bars are produced by numerous mints in the United States and globally.
Gold Gate Capital sells silver coins such as the Silver Rose Crown Shield. These.9999 silver coins are made by The East India Company LTD.
Despite having a face value of $1.25, investors will discover that they are worth more in the secondary market. Silver Round, Silver Austrian Philharmonic, Silver American Eagle, and Silver Canadian Maple Leaf coins are also available from GGC.
GGC verifies all of the silver bars it sells to guarantee they have a high enough silver purity level to qualify for an IRA.
They are.9999 pure silver and can be obtained from many mints or from a company such as Sunshine Minting. GGC sells silver bars in 10-ounce and 100-ounce sizes.
Sell Gold and Silver
Customers can also sell their gold and silver products at GGC. The company provides an online offer as well as one over the phone. A client must call and discuss what they have and want to sell. They can sell all of their gold and silver to the site in total liquidation.
A partial liquidation allows them to sell only what they want. When they receive an offer, they must enter into agreements in order for GGC to purchase the products. GGC will then ensure the items are exactly as specified by the client. The site will pay the client with a cheque and mail it to them.
Gold & Silver Info Kit
Gold Gate Capital claims to understand that customers may be hesitant to buy until they receive additional information, which is why it provides a free info kit. This kit discusses some of the benefits of opening a gold IRA and how to do so online. The offer displays on the site’s homepage as well as a few other pages.
If you’re interested in a free guide, you can get one from our #1 rated company as well:
How to Invest in Gold Gate Capital IRA?Step-by-step guide for investing in Gold Gate Capital IRA
Time needed: 15 days
To invest in a precious metals IRA through Gold Gate Capital, here are the general steps:
Open a Self-Directed IRA
Select an IRA company that handles opening precious metals IRA accounts and fill out an application. You can work with Gold Gate Capital to recommend an IRA company and provide the necessary paperwork. However, I don’t recommend doing so.
Fund Your IRA
Once you have selected an IRA company, you can move your funds into your new IRA account. You can work with the IRA company representative to transfer or rollover funds into the new account.
Select a Precious Metals Dealer
One of the forms you need to fill out along the way is typically called a Buy Direction Letter. This is where you list the precious metals dealer you have selected, such as Gold Gate Capital
Decide Which Precious Metals to Purchase
You can choose to invest in gold, silver, platinum, or palladium for your IRA. There are some restrictions regarding fineness requirements and allowable coin types, so it’s important to get guidance from Gold Gate Capital in this area.
Place Your Order
Once the funds are available in your IRA account, you can call them to place your order for the desired precious metals.
However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.
Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer of your state and choose accordingly.
Also, the list will help you understand what the industry’s best has to offer and what you might miss out on.
Gold Gate Capital Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
Gold Gate Capital’s website does not disclose any prices, which is a common complaint from prospective clients. Clients can learn more about a product by clicking on it, such as its history and gold weight. However, the price is not stated in the product description.
Customers are only able to know about prices by calling GGC and speaking with a representative. The site is equally secretive about the fees it charges.
Clients typically spend $50 to open a new account with GGC. They pay $30 for every transfer when they buy and add new products to the account.
There is also an annual cost of $100 that covers both asset storage and insurance on those assets. Customers must pay an additional $100 fee to their custodian in order for the account to be managed.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. Gold Gate Capitalon the other hand provides fewer options.
Gold Gate Capital Reviews and Complaints: BBB, Trustpilot, Sitejabber Read all the Gold Gate Capital reviews & complaints
Better Business Bureau (BBB)
GGC has an A+ rating with 5 stars on the Better Business Bureau (BBB) website. There are a total of 14 customer reviews, with the majority of them being positive. One customer complaint has been closed in the last three years, and the business is BBB-accredited. The company has been in operation for 14 years.
Gold Gate Capital has received #1 complaints on BBB
Gold Gate Capital has received several unresolved complaints from customers. There are also several unresolved negative reviews on different platforms. Our #1 rated gold IRA company has ZERO unanswered complaints on BBB.
Gold Gate Capital has a 4.8-star rating out of 5 on Google based on numerous customer reviews. There are a total of 56 customer reviews, the majority of which are favourable, with customers praising the services and team members.
After looking into the ratings on above mentioned platforms, it appears that the company is good with customer satisfaction; however, GGC has no noticeable profile on Trustpilot, with only one client reviewing them. GGC also has no profile on Trustlink, ConsumerAffairs, BCA, and Sitejabber.
Some GGC Reviews
Gold Gate Capital has mostly received positive reviews from clients, including those who have shared their experiences with the Better Business Bureau (BBB).
They praised the expertise of GGC’s specialists, as well as the help they received when shifting assets to a new account and purchasing additional assets.
Though GGC has a 5-star rating on Birdeye, this site has received a few negative ratings from customers. Some of the reviews on this website were from Google.
However, one of the employees who filed the complaint warns customers against working with GGC, claiming that the company can charge clients 25% more than the products are worth.
Gold Gate Capital Lawsuits: UniCourt, Justia, CasetextHave its customers sued Gold Gate Capital?
On Jan 2020, Sam Deleo filed a Personal Injury – other Personal Injury lawsuit against Gold Gate Capital. This case was filed in the Los Angeles County Superior Courts at the Inglewood Courthouse in Los Angeles, California. Alan B. Honeycutt and Gary Y. Tanaka are the Judges in charge of this case.
Our top companies have a clean background and aren’t involved in any kind of major legal dispute. You can check out the list here.
Is Gold Gate Capital Legit? Should You Invest With Them?Is Gold Gate Capital a scam or legit? Are they worth it?
No, I don’t think you should invest with them.
Decent product selection
Offers gold IRA
Few ratings and reviews
Prices are not disclosed on the website
Provides no information about team members
No palladium or platinum products
While they are not a scam, they are also not the best.
If you plan to invest in precious metals, you can surely rely on them. The one concern I have about Gold Gate Capital is the lack of transparency in its fees and charges, as well as the fact that the company has few ratings and reviews while being in the industry for a long time.