Goldline’s President, Mark Albarian, is a popular name in the precious metals trading industry. The company has made news for its global operations, which provide a platform for investors and collectors to trade in gold and silver coins, as well as other precious metals.
This article delves into Mark Albarian’s early days, the rich history, and the strategic shifts that have shaped Goldline into the industry leader it is today.
Attending UC Berkeley and UCLA (1978-1983), Mark Albarian dual-majored in Economics and Political Science. Between 1983 and 1984, he served as Assistant Vice President of West Coast Bank’s Numismatic Department. Following that, he held the role of Vice President at Valley State Bank Collateral Loan Division from 1984 to 1986.
During 1986-1991, he co-founded a successful rare coin and precious metals company in Los Angeles. With ANA membership since 1980, he consulted for numismatic firms (1979-1983). Taking office as Goldline’s President in January 1992, Mark Albarian assumed leadership.
Goldline traces its roots back to the formation of a Deak & Co. subsidiary in 1960. The company was founded by Nicholas Deak, a Hungarian immigrant who initially specialized in foreign exchange and gold coins and bullion. Over the decades, Goldline has been bought and sold multiple times, with each transition shaping its future direction.
The Deak & Co. Era
In the late 1970s, Deak & Co. emerged as the largest storefront gold retailer in the U.S. However, by the early 1980s, they experienced growing pains due to rapid expansion, particularly during the gold economic bubble which burst by 1982. It was during this time that the company decided to shift its focus to the wholesale market, providing services to companies rather than individuals.
Deak & Co. had a significant impact on the international gold market, particularly through the sale of South Africa’s Krugerrand. However, they were forced to halt sales due to pressures related to South Africa’s apartheid system in 1985.
The Transfer of Ownership
The transition phase saw Deak & Co. change hands multiple times. In 1985, a Singapore-based lawyer purchased the company for $52 million. The following year, Australia’s Martin Properties Ltd. acquired the foreign exchange and gold business for $12 million. By 1990, the London-based Thomas Cook Group bought the company for $10-$12 million.
The company saw a significant rebranding in the 1990s. It changed its name to Goldline International, Inc., and Mark Albarian, a prominent figure in the industry, became its president. Under his leadership, Goldline acquired the assets of Gold & Silver Emporium and later, Dreyfus Precious Metals, Inc., enhancing its market position.
Why Are Investors Diversifying Their Portfolio?
Experts agree that the financial market is now even more fragile than pre-2008. Will your retirement portfolio weather the imminent financial crisis? Threats are many. Pick your poison..
The financial system would be in great peril if one or more big banks fail.
“When we get to a downturn, banks won’t have the cushion to absorb the losses. Without a cushion, we will have 2008 and 2009 again.”
Student debt, which has been on a steep rise for years, could figure greatly in the next credit downturn.
“There are parallels to 2008: There are massive amounts of unaffordable loans being made to people who can’t pay them”
The US national debt has spiked $1 trillion in less than 6 months!
“If we keep throwing gas on flames with deficit spending, I worry about how severe the next [economic] downturn is going to be–and whether we have enough bullets left [to fight it],”
Total household debt rose to an all-time high of $13.67 trillion at year-end 2019.
“Any type of secured lending backed by an asset that is overvalued should be a concern… that is what happened with housing.”
Get in touch with an expert using the button down below:
The new millennium brought further opportunities for growth. In 2005, Goldline was sold to three investor groups: Prudential Capital, Goldline management, and Goldline’s former chairman. In 2009, CIVC, a Chicago-based private equity company, acquired a controlling interest in Goldline, marking a transaction worth over $50 million.
Goldline has made a name for itself as a reliable retailer of various precious metals. The company deals in gold coins, silver coins, platinum, bullion bars and coins, and other precious metals. It has managed to build a strong customer base, with its growth reflected in its revenue figures. In 2009, Goldline reported sales revenue of $825 million, securing its position among the fastest-growing companies in Los Angeles County, California.
Goldline has adopted a multi-channel marketing strategy, leveraging the power of the internet, radio, and television. They have also enlisted the support of prominent figures like Jay W. Johnson, the former Director of the United States Mint, and John Mercanti, the retired 12th Chief Engraver of the U.S. Mint, as spokespersons.
Goldline operates through various modes, including phone, internet, and in-person. The company ensures transparency in its operations, with all fees, commissions, and pricing details disclosed in writing to customers. However, it has faced criticism for its high markups, particularly on collectible coins.
The Legal Controversies
Over the years, Goldline has faced several legal challenges. In 2011, the Santa Monica City Attorney’s Office charged Goldline with 19 counts of theft and fraud. However, in 2012, all criminal charges associated with the investigations were dropped as part of a settlement agreement.
Beware of Gold IRA scams. Recently several scams have been charged by the authorities. Companies such as Regal Assets, Safeguard Metals and Red Rock Secured defrauded hundreds of retirees like you and me. I strongly suggest you learn how to identify gold IRA scams. You can request a free guide using the button below:
The journey of Goldline is a testament to the company’s resilience and adaptability. Despite facing numerous challenges, it has managed to steer its course and emerge as a leading player in the precious metals trading industry.
The company’s commitment to transparency, customer service, and ethical business practices continues to guide its operations as it looks towards the future.
Check out our top gold IRA firms of the year if you’re thinking about investing in a gold IRA.
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 in your state and choose accordingly.
Also, the list will help you understand what the industry’s best has to offer. Furthermore, it helps with what you might miss out on.