Golden State Mint is a private minting company based in the United States. It specializes in the production of high-quality precious metal bullion products. This includes silver and copper rounds, bars, and coins. According to its website, the Golden State Mint claims that it was founded in 1974. Since established a reputation for its craftsmanship and attention to detail. Whereas, according to the BBB website, they are since 14 years only in this precious metals industry.
Golden State Mint offers a wide range of bullion products in various weights and designs, catering to both collectors and investors in precious metals. Their products often feature iconic images, historical figures, and patriotic motifs.
The mint utilizes advanced minting techniques to ensure the quality and purity of its bullion items. In addition to producing its own designs, Golden State Mint also offers custom minting services. This allows individuals and organizations to create personalized bullion products for special occasions, commemorative purposes, or branding.
As a private mint, Golden State Mint does not have the authority to produce legal tender coins, which are typically the domain of government mints. However, their bullion products are highly sought after by precious metal enthusiasts and investors who value their craftsmanship and investment potential.
People Behind Golden State Mint:
Andrew Pavlakos is listed as the owner of Golden State Mint on his LinkedIn page. This suggests that he has a significant role in the management or ownership of the company. However, there isn’t any confirmation on their website.
It’s challenging to provide specific details about the management team or individuals involved in Golden State Mint.
The absence of detailed information about the management team on Golden State Mint’s website can be perceived as a lack of transparency. Transparency refers to the openness and accessibility of information regarding the key individuals and decision-makers within an organization.
When a company provides clear and comprehensive information about its management team, it fosters trust and accountability among stakeholders. This includes its customers, investors, and partners.
In the case of Golden State Mint, the limited information available on their website regarding the management team may raise questions. Subsequently, it may create uncertainty for those seeking to learn more about the people behind the company’s operations. Without specific details about the individuals involved in the management and ownership of the mint, it becomes challenging to evaluate their qualifications, expertise, and track record.
Transparency is an important aspect of corporate governance and can contribute to building credibility and fostering positive relationships with stakeholders. By providing information about the management team, companies demonstrate a commitment to accountability and enable stakeholders to make informed decisions and assessments about the organization.
As for the number of employees, the Crunchbase page stating that Golden State Mint has 11-50 individuals employed indicates that the company has a modest-sized team. These employees likely include individuals involved in various aspects of the minting process. So, they might include design, production, quality control, customer service, and administration.
How to Invest in Golden State Mint IRA?
What is Golden State Mint?
Time needed: 15 days
To invest in a precious metals IRA through them, 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 Golden State Mint. 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 Golden State Mint.
Decide Which Precious Metals to Purchase
Afterwards, 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 Golden State Mint 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.
Golden State Mint Products:
The catalogue of Golden State Mint offers a wide selection of gold, silver, and platinum IRA-approved coins, bars, and collectable coins sourced from various regions worldwide. Additionally, customers have the option to explore copper products as well as select cryptocurrencies.
Among the featured items, you can find renowned choices. Such as the Silver American Eagle, American Gold Eagle, Gold American Buffalo, Gold Canadian Maple Leaf, Gold Austrian Philharmonic, Silver Canadian Maple Leaf, and Gold Australian Kangaroo.
Notably, some of the silver products offered by Golden State Mint are recognized for their exceptional purity. This makes them highly desirable among silver enthusiasts. Those who have a particular interest in silver may find this vendor to be of great value.
As indicated in the 2022 Gold and Silver Outlook published by NASDAQ, silver is projected to experience a continued rise in demand, building upon its 17% increase in 2021. This trend can be attributed to silver’s ability to serve as a hedge against inflation and stagnation in the equities market.
Golden State Mint Fees and Charges:
Not much information about the fees and charges of Golden State Mint is available on its website. Some information which is provided is given below. This is also another example of their hiding tendency. Certainly, it is not beneficial for them in terms of customer satisfaction.
The company offers free shipping on all orders within the United States that reach a minimum purchase value of $199. Investing in gold or other precious metals typically involves higher transaction amounts, making it easy to meet this minimum requirement and benefit from the added convenience of free shipping.
Golden State Mint offers the following payment methods:
Mailed Check: Payable to “Golden State Mint.” Include the invoice/order number. Payment must be received within 10 days.
Bank Wire: For orders of $1,000 or more. Payment must be received within 36 hours.
Credit/Debit Card: Available for orders up to $10,000. The shipping address must match the billing address.
PayPal: Available for orders up to $5,000.
It’s important to carefully review and understand all fees and charges associated with your precious metals purchases and IRA accounts before proceeding with any transactions.
Golden State Mint Reviews and Complaints:
Better Business Bureau (BBB):
On the Better Business Bureau website, the business has an A+ rating and 4.33 stars out of 5-star ratings based on only 6 customer reviews. There are both mixed positive and negative reviews. They have been in the industry for 14 years. No complaints have been registered or closed in the last 3 years. Furthermore, this business is BBB accredited on Better Business Bureau website.
On the Trustpilot website, GSM has 3.7 stars out of 5-star ratings based on customer reviews. There is only 1 customer review on the website. According to this such rating they are in an average state.
Are There Any Golden State Mint Complaints? Should You Be Concerned?
While there are no specific complaints mentioned in the information provided, the absence of customer reviews and ratings on various reputable online platforms could be a cause for concern. Typically, customer feedback and reviews provide valuable insights into the experiences of others who have dealt with the company.
Without access to customer feedback, it is difficult to determine the level of customer satisfaction and potential issues that may arise. As a potential customer, it is recommended to consider these factors and exercise caution when dealing with a company that lacks substantial customer feedback or ratings.
To make an informed decision, you may want to explore other reliable sources such as business rating websites, and forums, or seek recommendations from trusted individuals who have prior experience with GSM or similar companies in the precious metals industry.
Some Reviews by their customers on various business rating websites:
#1. Sothea C had initially planned to write a positive review after discussing a wire transfer refund with the owner of the company. The owner had agreed to refund the amount due to the extended delay in shipping the order. However, it has now been three weeks since their conversation, and despite Sothea C’s polite reminders through multiple phone calls, she has yet to receive either the product or the refund. It has been nearly three months since she initially placed her order, and the situation remains unresolved.
#2. According to Eric G, his company is the friendliest precious metal company online. He praises their beautiful coins, which are crafted by the company themselves. Eric also commends their outstanding customer service, specifically mentioning Laura as a valuable asset. In conclusion, he highly recommends shopping with GSM.
#3. According to Armando A, he has placed two orders with GSM in the past six months, and both transactions were seamless without any problems. He mentions that there is a military discount available, and interested customers can find information on how to get verified by searching the website. Armando expresses a slight disappointment with the shipping cost, as it requires a minimum order of $200 compared to other sites offering free shipping for orders over $99. However, he acknowledges that he cannot complain about it. Overall, Armando describes GSM as a fantastic site with excellent prices.
#4. According to Larry W, the rounds from GSM have a very appealing appearance. He had previously purchased them from another source but decided to eliminate the middleman this time. Larry highlights the excellent communication with GSM and mentions that the shipment was promptly sent out.
Is Golden State Mint Legit? Should You Invest With Them?
No, I don’t think you should invest with them.
A+ rating on BBB
Decent product selection
Lack of transparency
Contradictory information present on the website
Few customer reviews on prominent third-party platforms
There are certain concerns raised regarding the legitimacy of the GSM. The lack of information about the company’s management team on its website, discrepancies in founding years reported by the BBB, and the absence of customer reviews and ratings on various reputable online platforms are factors that raise doubts.
Additionally, the limited information about fees and charges, lack of real-time price updates, and frequent stock shortages and inventory updates on the company’s website contribute to the skepticism surrounding its legitimacy. It is important to exercise caution and conduct thorough research before engaging in any transactions with Golden State Mint or any other company, particularly in the precious metals industry.
So, while I would say Golden State Mint is a prominent gold IRA provider, they are certainly not the best.