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Our GoldSilver review aims to provide Bear Lake Gold's expert opinions on this gold and silver company, what its sells, and the service it offers its customers in the industry. We will also provide details about the company's pros and cons, what makes it unique, and details of its management team as part of the important aspects of this review.
We employed our elite Gold IRA dealer review methodology while carrying out this review process. Part of the information that formed the major aspects of this review came from our interactions with the company's offline and online customers. We also spoke to some of the employees in the company to further clarify what the customers told us.
Sadly, the information from the company's customers and employees was not reassuring enough to place any confidence in GoldSilver. Hence, we could not rate them as one the industry’s top thirty gold IRA firms.
If you wish to know why we could not rate the company as one of our top thirty gold IRA providers, read this review till the end.
However, we have listed five companies as the industry's top five gold IRA companies. These companies are
We recommend these companies because they passed our checks based on our elite review methodology. To see why these companies stand out, click the buttons below to request their complete and accurate reviews.
GoldSilver was founded in 2005 by Mike Maloney. The company offers precious metals to interested investors via its marketplace and educates its customers about gold and silver. Its HQ (Headquarters) is in Santa Monica, but it offers international shipping services and has partnerships with vaults in many countries.
The company's name tells you what it specializes in, gold and silver. It sells a wide range of gold and silver bullion. However, they do not sell other precious metals like platinum, palladium, and copper. Suppose you want to invest in these other categories. In that case, you will have to look at other companies. Based on our expertise in the industry, the companies that offer the best platinum and palladium metals are Goldco, Augusta Precious Metals, and American Hartford Gold.
Investors can easily select the bullion they want to check out through the company's online page or website. After selecting, investors can choose direct shipping to their locations or a place for storing their bullion. For investors that select this storage option, GoldSilver automatically sets up their accounts with their chosen storage facility.
The accounts the company sets up for investors who want to store their metals are like brokerage accounts. These investors can sign into their accounts from their devices and see their holdings wherever they are. In addition, they can also see how well or badly their assets are doing over any given period. The account shows them the changes in the value of their metals over time. From their account dashboard, they can also perform transactions.
GoldSilver guarantees its investors who choose the storage option to trade, transfer, or get their metals physically delivered to them if they wish.
Mike Maloney is the major person behind GoldSilver. He founded the company, and to date, he is still the CEO (Chief Executive Officer). Mike authored the book "A Guide to Investing in Gold and Silver," a best-seller in the industry, and he is also the host of the popular Hidden Secrets of Money, an investment web series. In addition, he was one of Robert Kiyosaki's friends and former advisors. Kiyosaki authored "Rich Dad, Poor Dad."
A precious metals IRA is a type of self-directed IRA (SDIRA). The self-directed IRA allows people to invest in a wide range of non-traditional assets, for example, precious metals. When you add precious metals to your retirement investment plans, you automatically protect your wealth from economic risks such as volatility and inflation. Precious metals investment is one way to hedge your wealth from the downturns that occur in the economy. In addition, it is like investing in a tax-efficient savings regime.
You can buy various metals through a precious metals IRA investment vehicle, but the four major ones in the industry are gold, silver, palladium, and platinum. GoldSilver only sells silver and gold products that meet the IRS (Internal Revenue Service) precious metals standards.
Furthermore, the company's employees help investors set up new precious metals’ IRAs or rollover funds from their existing regular IRA or 401k plans. The company partners with trusted IRA custodians to ensure that the IRAs they set up for their customers meet the IRS criteria.
The gold products that GoldSilver sells are 99.9% pure, and its silver products are 99.5% pure.
In addition to helping investors set up their precious metals IRAs and selling IRA-eligible precious metals to them, the company sells precious physical metals to its investors. It can physically deliver the precious metals to its customers' location if they choose the option. GoldSilver sells products under the following categories;
Investors who do not want their precious metals shipped to them after buying from GoldSilver can choose to store them in insured and fully licensed vaults. The company also uses segregated storage vaults, which means that the metals in them solely belong to their owners.
GoldSilver has various types of accounts. You can open an individual type of account for your personal investment needs. You can open a joint account if you want to invest with your spouse. You can open an LLC or a trust account for complex investment portfolios.
The storage vaults are run by the international Depository Service Group or Brinks. These firms are among the most reputable security firms in the world. Some of the cities with the storage vaults where GoldSilver stores their precious metals apart from Dallas and Salt Lake City are;
GoldSilver has certified IRA partners that manage investors’ precious metals IRA. Their certified IRA custodians are Equity Trust, New Direction IRA, Strata Trust Company, and Goldstar Trust Company.
If you buy products worth at least $499, the company will ship the products to you for free. It will charge you $25 for delivery for orders below this amount. When getting products ready to ship, the company ensures that it carefully packages them to preserve them.
In addition, the company wraps customers’ packages discreetly to prevent other people from finding out what the packages contain. It also divides customers’ orders worth at least $75,000 into different consignments to secure the transactions of such customers.
However, unlike some companies, the company does not insure any package they ship. Therefore, the customer is responsible for anything that happens to the package during transit, including damages or loss.
The company is known in the industry for selling quality bullion products. Its inventory only has highly respected mint's gold bars, coins, and jewelry. If you go to the company's website, you will find the following products.
The company offers the most investor-friendly silver bullion bars, coins, and rounds in the precious metals market. It sells regular silver coins like the Canadian Silver Maple Leaf and the American Silver Eagle.
It also sells a wide array of private mint rounds for competitive prices. The company also sells exclusive varieties of silver rounds called the Modern Ancients. One of the best ways to diversify your portfolio through GoldSilver is by investing in its amazing silver products. The company sells some of these products for cheaper prices compared to the most recent government-minted coins. Some of the best-selling silver products you will find available on the company's website are:
You can select from the company's allocated or segregated storage. You will not have to pay expensive storage fees if you select the allocated storage. However, the company will not separate your metals from other people's holdings. Rather than a flat storage fee, you will pay 0.06% of your portfolio's worth every month.
If you compare this fee to some offshore storage companies in the industry, you will see that the fees are inexpensive. However, this percentage rate may not favor you if you want to hold larger values of gold in your investment portfolio. We will advise that you go for the flat fee storage option.
There is a $4 minimum monthly storage fee for portfolios worth at least $6,666. If your investment portfolio is worth at least $10,000, you will pay $6 monthly. For a $25,000 minimum investment, you will pay a $15 storage fee. If your investment is worth at least $50,000, you will pay a storage fee of $30. Then for an investment portfolio worth $100,000, you will pay $60 per month.
Storing your metals with GoldSilver does not require you to sign any contract, and you will only pay for storage fees when you use the storage option the company provides through its partners. Once you retrieve your metals and have them delivered to you or transfer them to another vault that does not partner with GoldSilver, you will not need to continue paying their storage fees.
To choose a segregated storage option, you must have at least gold and silver products worth $35 each. If you have gold and silver, your holding will be at least $70. Then you will pay a storage fee of 0.08% of the current price for your entire holding.
If you choose a segregated vault, the company will wrap your metals, shelve them, and separate them from those of other investors. Furthermore, no one can access them apart from you and your gold IRA custodian.
No matter the storage plan you decide on, note that it is not permanent. You can always change from allocated to segregated vaults and vice versa.
A gold IRA is a type of self-directed IRA (SDIRA). The self-directed IRA allows people to invest in a wide range of non-traditional assets, for example, precious metals. When you add these metals to your retirement investment plans, you automatically protect your wealth from economic risks such as volatility and inflation. Gold investment is one way to hedge your wealth from stock market crashes and other downturns that occur in the economy. In addition, it is like investing in a tax-efficient savings regime.
You can buy various metals through a gold IRA investment vehicle, but the four major ones in the industry are gold, silver, palladium, and platinum. GoldSilver only sells silver and gold products that meet the IRS (Internal Revenue Service) standards.
Furthermore, the company's employees help investors set up new gold IRAs or rollover funds from their existing regular IRA or 401k plans. The company partners with trusted IRA custodians to ensure that the IRAs they set up for their customers meet the IRS criteria.
The gold products that GoldSilver sells are 99.9% pure, and its silver products for sale are 99.5% pure.
In addition to helping investors set up their gold IRAs and selling IRA-eligible products to them, the company sells precious physical metals to its investors. It can physically deliver the metals to its customers' locations if they choose the option. GoldSilver sells products under the following categories;
Investors who do not want their metals shipped to them after buying from GoldSilver can choose to store them in insured and fully licensed vaults. The company also uses segregated storage vaults, meaning the metals in them solely belong to their owners.
GoldSilver has various types of accounts. You can open an individual type of account for your personal investment needs. You can open a joint account to invest with your spouse. You can open an LLC or a trust account for complex investment portfolios.
The International Depository Service Group or Brinks runs the storage vaults. These firms are among the most reputable security firms in the world. Some of the cities with storage vaults where GoldSilver stores their metals apart from Dallas and Salt Lake City are;
GoldSilver has certified IRA partners that manage investors' gold IRA. Their certified IRA custodians are Equity Trust, New Direction IRA, Strata Trust Company, and Goldstar Trust Company.
If you buy products worth at least $499, the company will ship the products to you for free. It will charge you $25 for delivery for orders below this amount. When getting products ready to ship, the company carefully packages them to preserve them.
In addition, the company wraps customers' packages discreetly to prevent other people from finding out what the packages contain. It also divides customers' orders worth at least $75,000 into different consignments to secure the transactions of such customers.
However, unlike some companies, the company does not insure any package they ship. Therefore, the customer is responsible for anything that happens to the package during transit, including damages or loss.
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3.7 out of 5 Stars.
The rating is based on 25 reviews.
4.6 out of 5 Stars.
The rating was based on 1162 reviews.
To conclude this GoldSilver review, Bear Lake Gold's final verdict on the company is that it is legit and does not scam unsuspecting investors. To further establish its legitimacy, it was founded by a prominent investor.
However, the company has flaws that have prevented us from listing it among the industry's top thirty recommended gold IRA dealers. Among many reasons, the narrow category of precious metals it sells is a major flaw for us. Based on our expertise in gold investment, portfolio diversification is one way to guarantee growth in the value of your investments. You will need other metals like platinum and palladium to diversify your portfolio properly.
To add to this major flaw, some of the products in the company's gold and silver categories are not always available for purchase. This flaw makes buying your desired metals frustrating, especially if you just set up your gold IRA.
Considering these flaws, we will also not recommend the company as the best to invest your money through if you want to grow your investment ahead of your retirement. We know that investors desire to see every dollar they invest to grow, so we have researched and identified the top five companies in the industry that can help investors grow their investments by offering them various investment options.
These companies are the best in the industry and have a track record of excellent services. In addition, they help investors protect and grow their wealth ahead of retirement through a gold IRA. If you live in the United States, you can never go wrong by investing your hard-earned currency in any of our top five GoldSilver alternative companies.
Our #1 Precious Metals & Gold IRA Company - Best Overall
This company is the absolute best precious metals IRA firm in the U.S. today due to Augusta’s transparency, pricing, dedication to education, and extraordinary attention given to customers.
We highly recommend that everyone take advantage of their free web conference that helps you understand the economy, threats to your retirement, and the precious metals buying process (designed by their in-house Harvard-certified economic analyst). They even share tips for avoiding gimmicks and high-pressure tactics in this unregulated industry.
This gold precious metals specialist company was chosen by Money magazine as “The Best Overall” in its Best Gold IRA Companies list for 2023. It is the only gold IRA firm with ZERO complaints on the BBB website since 2012. It has an outstanding track record proven by consumer watchdog ratings and tons of the best customer reviews, including endorsement by hall-of-fame quarterback Joe Montana, whose advisors found Augusta for him. We are thrilled to recommend Augusta as our #1 gold IRA company!
Pros
Cons
To start investing with Augusta Precious Metals, please click this link to download its 2023 gold investment kit for free.
Our #2 Recommendation - Best For Promotions
Established in 2006, this company has an excellent solid record and is our top recommendation for people looking to invest over $25,000 in a gold IRA. We consider this gold trading online platform the 2nd best Gold IRA Company in The USA Today.
Pros
Cons
To start investing with Goldco, please click this link to download its 2023 gold investment kit for free.
Our #3 Gold & Silver Company -Great Prices and Great Customer Service
One of the most trusted Gold and Precious Metal brokers in the United States is American Hartford Gold. This family-owned company is endorsed by Bill O’Reilly and America’s Mayor, Rudy Giuliani.
American Hartford Gold is great for gold and palladium IRA and purchasing physical Gold, Silver, and Platinum.
Pros
Cons
To start investing with American Hartford Gold, please click this link to download its 2023 gold investment kit for free.
Our #3 Gold & Silver Company -Great Prices and Great Customer Service
Since it was established in 2003, the company has delighted customers and provided excellent customer education. Birch Gold Group’s one-on-one interactions with customers are a fundamental advantage for those who want to make vital decisions impacting their financial future.
Pros
Cons
To start investing with Birch Gold Group, please click this link to download its 2023 gold investment kit for free.
Our #3 Gold & Silver Company -Great Prices and Great Customer Service
The truth is that Noble Gold has not been around the scene for a long time, but it has, in the shortest time possible, made huge impacts on the gold IRA market. Since its inception, the company has captured customers’ hearts via its vast educational resources gallery, a wide range of investment options, and low investment requirements. The company’s commitment to customer service also has high ratings on third-party rating sites like BCA and Consumer Affairs.
According to the agent we spoke to, Noble Gold gives customers a committed account manager from the first day they decide to open a gold IRA account with it. The knowledgeable professionals will also give the customers all they need to know about how a gold IRA works and the setup process. In addition, they offer a smooth buyback process to their customers.
Noble Gold works with Delaware Depository and Brink’s Global Services to provide storage services for its customers. In addition to these storage companies, Noble Gold owns its depository in Texas. Hence, customers can choose to store their metals in any of these three depositories.
Pros
Cons
To start investing with Noble Gold Investment, please click this link to download its 2023 gold investment kit for free.
Gold Silver is an adequate brand, although we do not rate it in our top 50 precious metals companies for the provision of Gold IRAs or silver IRAs
At BearLakeGold, we thoroughly fact-check all our information. Our writers independently interview past customers and members of staff at each company we review; they compare and contrast the information we gather about each company. Our method allows us to provide real-life experiences of each company.
