GoldSilver.com stands as a prominent bullion dealer headquartered in New York, offering a diverse array of precious metals products and investment opportunities since 2005.
Founded by Mike Maloney, a respected figure in the financial realm, the company has garnered attention for its extensive product offerings and commitment to customer education.
In this comprehensive guide, we delve into GoldSilver.com’s product range, fees, customer reviews, and unique features, providing valuable insights for both seasoned investors and those new to the world of precious metals investment.
What is GoldSilver.com?
GoldSilver is a bullion dealer based in New York. Their office is located at 750 Third Avenue, Suite 702, New York, NY 10017. Similarly, their contact number is +1 888-319-8166.
The company has been offering precious metals IRAs and products to customers since 2005. Its founder is Mike Laloney, a prominent financial influencer.
Moreover, the company has a decent collection of precious metals to offer. They provide customers with many resources on investing and precious metals. Their custodial partners include STRATA Trust Company, GoldStar Trust Company, Equity Trust Company and New Direction Trust Company.
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To help customers buy products more easily, GoldSilver enables multiple payment methods. This includes PayPal, Bitcoin, Bitcoin Cash, wire transfers and credit cards.
The company has partnered with secure vaults all across the globe as well.
If you want to find out if this company is worth your money or not, the following GoldSilver.com review will help:
People Behind GoldSilver
Mike Laloney:
The founder and owner of GoldSilver.com is Mike Laloney.
Mike is a former Rich Dad/Poor Dad counsellor and the host of Hidden Secrets of Money. At GoldSilver, you get to choose from multiple custodians when setting up an IRA.
You can find his books on GoldSilver.com itself. In fact, the company offers his bestselling book “Guide to Investing in Gold & Silver ” for free if you sign up on their website.
Mike is quite active on YouTube and posts new videos about precious metals investing regularly.
Jeff Clark:
Jeff Clark is a highly respected authority in the industry. He is an analyst, author and speaker. Jeff was a senior editor for Big Gold, a prominent publication. He served in that role for 10 years.
Jeff is the son of an award-winning gold panner and has family-owned mining claims in Arizona, California and Nevada.
How to Invest with GoldSilver.com
If you’re interested in buying gold and silver bullion, you can simply head to GoldSilver.com and create an account to begin purchasing.
On the other hand, if you want to set up a precious metals IRA, you would have to go through several more steps.
First, you would have to open an IRA with one of their partnered custodians. The entire process can take place online.
Afterwards, you would need to add funds to your self-directed IRA. You can do so by either rolling over funds from your existing IRA or adding funds directly. GoldSilver facilitates both of these methods.
Once you have added funds to your precious metals IRA, you can start adding precious metals to it.
That’s it. This is all you have to do to get a precious metals IRA with GoldSilver. However, be cautious when adding precious metals to your IRA account because their product selection has a lot of non-IRA products.
GoldSilver.com Products
This bullion dealer has a considerable collection of gold and silver products. However, there are no platinum or palladium products which is a big downside of this firm. Both of those metals are gaining popularity as reliable investments among precious metals investors.
Not having the option to add them to your IRA would cause you to miss out on some serious benefits.
Still, their collection of IRA-eligible gold and silver products is quite impressive.
Keep in mind that GoldSilver.com sells both IRA-eligible and non-IRA gold and silver products. Hence, be extremely cautious when purchasing metals from them. You don’t want to add non-IRA metals to your IRA because it can result in multiple penalties.
Gold Products:
GoldSilver offers many popular IRA-eligible gold coins to customers:
- American Gold Buffalo
- Austrian Philharmonic Gold Coin
- Canadian Gold Maple Leaf
- Australian Kangaroo Gold Coin
- American Gold Eagle Coin
Apart from these coins, you can also purchase gold bars of various sizes for your IRA including 10 oz, 100 oz, and 1 oz. However, a large percentage of these products are marked “Out of Stock”.
Silver Products:
Just like their catalogue of gold products, they have a large number of silver products available too:
- American Eagle Silver Coin
- Canadian Silver Maple Leaf
- Australian Silver Kangaroo Coin
- Austrian Philharmonic Silver Coin
Apart from these coins, you can purchase silver bars of 100 oz, 10 oz and 1 oz on GoldSilver.com. However, many of these products are marked “Out of Stock” at the time of writing this goldsilver.com review.
For example, Silver Britannia Coin, 100 oz Royal Canadian Mint Silver Bar, and Valcambi Silver CombiBar are some of the many products that are unavailable currently.
GoldSilver.com Fees
With this gold IRA provider, how much fees you pay will depend largely on your chosen custodian. For example, their preferred IRA custodian is Equity Trust Company.
Equity Trust charges $50 for the initial IRA set-up. However, other custodians charge differently.
Furthermore, your storage fees with GoldSilver would depend on the size of your investment.
The precious metals dealer charges 0.06% of your asset value per month and $4 is the minimum fee.
For customers with smaller investments, this is a great avenue as the charges would be low. However, if your investment is around $100,000 or higher, the charges might put a serious dent in your finances.
For example, customers with a $10,000 investment would only pay $6 per month while those with $100,000 would pay $60.
This fee structure is only for non-segregated storage. If you opt for non-segregated storage, you would need to pay 0.08% of your total investment and the minimum charge is $35 per month per metal.
So, if you have both gold and silver in non-segregated storage, you would be paying $70 minimum per month.
Certainly, the fee structure is attractive for small investments. But if your investment size increases over time, the charges would increase accordingly. This can deter some investors from investing in GoldSilver.
Additional Highlights of GoldSilver.com
Multiple Custodians and Storage:
GoldSilver.com has partnered with multiple IRA custodians. These include STRATA Trust, GoldStar Trust Company, New Direction IRA and Equity Trust.
Among these, the preferred custodian of this company is Equity Trust.
Similarly, they have partnered with 2 reputable storage providers, Brinks Inc and International Depository Services (IDS).
Partnering with multiple storage providers has enabled GoldSilver.com to offer various storage locations: Singapore, Salt Lake City, Dallas, Toronto, and Hong Kong.
You don’t get such flexibility in terms of storage locations with many bullion dealers.
Free Books and Guides:
There are numerous free resources available on GoldSilver.com. The company’s owner is a renowned finance author and you can get one of his books for free when you sign up with them.
They have a dedicated “Learn with Us” section where they share the fundamental benefits of investing in precious metals. However, if you’re interested in learning more, they have an active blog where they add new articles regularly.
If you want to learn on the go, you can download the GoldSilver.com app as well.
Large Video Library:
Mike Maloney has a significant online presence. His YouTube channel has over 680,000 subscribers and counting.
That’s not all. The channel has more than 100 million views at the time of writing this GoldSilver.com review.
He uploads new videos on his channel regularly and if you’re someone with a keen interest in precious metals, it might be an excellent resource for you.
Many of Mike’s videos are available on the website of GoldSilver as well.
GoldSilver Insider Program:
The bullion dealer offers a unique insider program to select investors. There, the company offers regular updates on Mike Maloney’s personal portfolio and exclusive deals.
To join their insider program, you would need to purchase either 500 ounces of silver or 10 ounces of gold over your lifetime as a GoldSilver customer.
After reaching that threshold, you will become a member of their insider program.
Certainly, it’s a unique feature that’s not available with many gold IRA providers.
GoldSilver.com Reviews and Complaints
GoldSilver BBB:
On BBB, this gold IRA company has received an F rating, the lowest rating of the platform. Also, they have a 1 out of 5-stars rating based on 2 customer reviews.
At the time of writing this review, the company has closed 1 complaint in the last 12 months on BBB.
GoldSilver Trustpilot:
On Trustpilot, there are over 1200 GoldSilver.com reviews. 77% of these reviews give the company 5 out of 5 stars while 11% give them 4 out of 5 stars. The overall rating of the company is 4.6 out of 5 stars.
Most of the reviews praise the company’s customer support for being helpful and friendly.
For example, Annette shares that she highly recommends this firm. She says that she feels happy and lucky to have found this firm. Annette thanks the company for helping her reach her goal of collecting precious metals.
Are There Any GoldSilver.com Complaints? Should You Be Concerned?
When I was looking into the reviews on this company, I found several GoldSilver.com complaints. They were mostly about their prices while some were concerned with delivery issues.
For example, Edward highlights that the prices of their 10 oz silver bar were substantially higher than the competition. He says he was disappointed with the checkout and had to see his bank manager perform the wire transfer.
However, I must add that the company responds to every review no matter how positive or negative it is. They don’t give automated replies either.
The company addressed the concerns of Edward in their reply and I saw that they write personalized replies on every review. A nice highlight.
It shows that the company puts in a lot of effort into customer support.
Is GoldSilver.com Legit?
Pros:
- Impressive product selection
- Large collection of free resources
- Multiple custodial partners
Cons:
- Mixed reviews
Yes, GoldSilver is a legitimate gold and silver dealer. The company has operated in the industry since 2005 and has a significant online presence. Its founder is a notable influencer with hundreds of thousands of followers online.
They have a decent product selection and enable customers to choose from multiple IRA custodians including STRATA Trust, Equity Trust, New Direction IRA and GoldStar Trust Company.
Similarly, they provide customers with multiple storage options all across the globe. They have partnered with International Depository Service and Brinks Inc to achieve this.
Furthermore, the company provides consumers with a plethora of free investing resources. Also, their website has a large video library covering the latest topics about precious metals.
However, they have received an F rating from the Better Business Bureau. Moreover, their product selection doesn’t have any platinum and palladium products. Hence, it’s difficult for me to recommend them as a suitable firm.
Opening a gold IRA can help you greatly with wealth preservation, especially in an economic downturn.
However, finding the right gold IRA provider is crucial. Their fee structure, service quality, and product selection are all aspects you must keep in mind when selecting them.
That’s why I recommend checking out multiple gold IRA companies before choosing one. Also, it always helps to consult a retirement advisor when making such decisions.
If interested, you can check out the best gold IRA companies of this year here.
Have you dealt with GoldSilver? How was your experience? Share it below!