The Gold Guys Review – A Quick Overview
The Gold Guys is a jewelry and precious metals buyer based in Minnesota.
They purchase coins, dental gold, bullion, jewelry, diamonds and sterling silver from customers.
The company has been in the industry for more than 14 years and enjoys a relatively positive reputation.
However, they don’t offer any IRA or investment services. You can only sell them products.
Pros:
- Over 14 years of experience
- Purchase all kinds of precious metals
Cons:
- No IRA services
- No investment provisions
- Unsuitable for investors
Table Of Content
What is The Gold Guys?
The Gold Guys is a jewelry buyer with multiple locations in Minnesota. Below are the all The Gold Guys locations:
- Oxboro Center, Bloomington
- Miller Hill Mall, Duluth
- Shoppes at Arbor Lakes, Maple Grove
- Woodbury Lakes, Woodbury
They serve Minneapolis, Blaine, Maple Grove, Plymouth, Lakeville and plenty of other areas in Minnesota. The company has been in the industry since 2008.
They specialize in buying coins, bullion, jewelry, diamonds and sterling silver from customers. However, the company doesn’t mention any IRA services on its website.
They only focus on buying precious metals and jewelry from customers.
The Guys Behind The Gold Guys:
The Gold Guys is the brainchild of two friends. They co-founded the company in 2008 and have been running it since:
Joe Beasy (Co-Founder)
Joe Beasy is an experienced entrepreneur. He trains the staff of The Gold Guys and motivates them. According to his bio on the website, he was raised in a working-class family in Northern Minnesota.
Apart from running this firm, Joe enjoys canoeing and fishing.
Shame Maguire (Co-Founder)
Shane Maguire is from New Zealand and arrived in the US through the ship built for the movie “The Bounty”. The movie starred Mel Gibson for whom Shane acted as a body double.
He moved to the US permanently when he was 24 and has been an entrepreneur ever since.
Can You Invest in a Gold IRA with The Gold Guys?
No. The company doesn’t mention any IRA services on its website nor does it mention any custodial partnerships.
Without a custodian, you cannot open a gold IRA.
The company focuses only on buying precious metals, stones and jewelry from its customers. It doesn’t offer any gold IRA services.
If you’re a retirement investor, it would be best for you to find a specialized gold IRA with a product selection that matches your investment goals. You can look into Augusta Precious Metals or Birch Gold Group for IRA investing. The Gold Guys are only suitable if you want to sell some precious metals to a business.
What Do the Gold Guys Buy:
Usually, I mention what kind of precious metals and/or bullion you can purchase from a firm. However, the Gold Guys don’t sell any products of such kind.
Instead, the firm purchases precious metals products from customers.
The company purchases gold, coins, bullion, dental gold, diamonds, jewelry and sterling silver from customers. They don’t limit themselves to gold and silver either.
Apart from gold and silver, you can sell them platinum, palladium and even rhodium. The company calculates the value of your products according to their karat value and weight.
They pay you the London Fix price of the day according to the purity of the precious metal you bring. If you accept their offer on the spot, they would issue you a company check.
You can sell them your goods through in-store, mail-in and on-site service, depending on your location and requirements.
The Gold Guys Fees and Charges:
The Gold Guys don’t offer any services. Hence, there are no fees or charges you need to pay here.
The company has a team of expert staff to help you get the suitable price for your precious metals products. They don’t charge for appraising the products you come to sell.
The Gold Guys Reviews and Complaints:
There are plenty of The Gold Guys reviews available online. The company has profiles on multiple customer platforms including BBB, Trustpilot and Yelp.
Their Trustpilot page has 22 reviews and an aggregate rating of 4.6 out of 5 stars.
The Gold Guys reviews are mostly positive. For example, Kitty shares that a staff member helped her get way more than what she expected to get based on what the competitors offered.
She thanked the staff and the company for their quality service and pricing.
Similarly, Gold Guys Maple Grove’s Yelp page has a total rating of 4.5 out of 5-stars based on 7 customer reviews.
The Gold Guys BBB page has an A+ rating but no customer reviews or complaints.
What’s commendable is how the company hasn’t received any negative reviews or complaints online. Almost all of the reviews praise the company for its quality service. Certainly, they have focused a lot on client satisfaction and their reviews reflect this fact.
Are The Gold Guys Legit?
Yes, the Gold Guys is a legitimate firm. The company focuses on purchasing precious metals products from its customers including coins, bullion, jewelry, diamonds and sterling silver.
Also, they have multiple locations across Minnesota and enjoy a positive reputation in the industry.
However, the company doesn’t offer any gold IRA or investment services. Hence, they are only suitable for individuals looking to sell their precious metals products.
If you’re an investor, you might not find them any useful.
Summary
The Gold Guys are only good for selling your precious metals. For investors, they don’t have anything to offer.
Finding a good gold IRA firm might seem challenging. However, to help you with your search, I have reviewed numerous companies and picked the best ones. This way, you can find the most suitable gold IRA firm for your requirements with the least bit of effort. You can check out my list of the best gold IRA companies of 2023 here.