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GoldSilver Review

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 its management 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 customers, both offline and online. 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 the company in our list of the top thirty gold IRA firms in the industry.

If you wish to know why we did not list the company among our top thirty gold IRA providers, read this review till the end.

However, we have listed three companies as the top three precious metals IRA companies in the industry. These companies are Goldco, American Hartford Gold, and Augusta Precious Metals.

We recommend these companies because they passed our checks based on our elite review methodology. To see why these companies stand out in the industry, click the buttons below to request their complete and accurate reviews.

 

#1 Recommendation

Best Overall Precious Metal Provider

 

Best IRA Gold information packREQUEST YOUR AUGUSTA GOLD GUIDE

 

#2 Recommendation

Best  Gold IRA Based On Price

 

Best IRA Gold information pack REQUEST YOUR GOLDCO GOLD GUIDE

 

#3 Recommendation 

Most Reliable IRA Provider

 

Best IRA Gold information packREQUEST YOUR HARTFORD GOLD GUIDE
GoldSilver Review Pros and Cons

Company Name

Introduction to GoldSilver

GoldSilver was founded in 2005 by Mike Maloney. The company offers precious metals to interested investors via its marketplace, and it educates its interested 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 precious metals categories, you will have to look to 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 marketplace. 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 bad their assets are doing over a any given period of time. The account shows them the changes in the value of their precious metals over time. From their account dashboard, they can also perform transactions.

GoldSilver guarantees its investors who choose the storage option that they can sell, transfer, or get their precious metals physically delivered to them if they wish.

GoldSilver Management

Mike Maloney is the major person behind GoldSilver; He founded the company and is also 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 former advisors. Kiyosaki authored “Rich Dad, Poor Dad”.

GoldSilver Products and Services

Precious Metals IRAs

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.

Precious Metals Help To Hedge Inflation

Augusta Hedge Against Inflation

Precious Metals

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;

  • Gold Bars and Coins.
  • Silver Bars and Coins.
  • Jewelry

Storage Options

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;

  • Hong Kong, China
  • Toronto, Ontario, Canada
  • Singapore

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.

Shipping and Insurance

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.

What is GoldSilver Selling?

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.

Gold Coins

  • Gold American Buffalo Coins
  • Gold Austrian Philharmonic Coins
  • Gold South African Krugerrand Coins

Gold Bars

  • 1-ounce gold bars
  • 400-ounce gold bars
  • 10-ounce gold bars

Gold Jewelry

  • An amazing collection of 24- and 23-karat gold jewelry

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:

Silver Coins

  • Silver American Eagle Coins
  • Silver Britannia Coin
  • Silver Austrian Philharmonic Coins
  • 1-ounce silver rounds

Silver Bars

  • 1-kilo silver bars
  • 10-ounce silver bars
free $10,000 in silver

GoldSilver Costs and Fees

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 keep your precious metals separate 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 pretty inexpensive. However, this percentage rate may not favor you if you want to hold larger values of precious metals 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 for an investment portfolio worth $100,000, you will pay $60 per month.

Storing your precious 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 choose to retrieve your precious 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 precious metals 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 your entire holding.

If you choose a segregated vault, the company will wrap your precious metals, shelve, and separate them from those of other investors. Furthermore, no one can access them apart from you and your precious metals IRA custodian.

No matter the storage plan you decide on, it is not permanent. You can always change from allocated to segregated vaults and vice versa.

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GoldSilver Costs and Fees

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 keep your precious metals separate 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 pretty inexpensive. However, this percentage rate may not favor you if you want to hold larger values of precious metals 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 for an investment portfolio worth $100,000, you will pay $60 per month.

Storing your precious 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 choose to retrieve your precious 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 precious metals 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 your entire holding.

If you choose a segregated vault, the company will wrap your precious metals, shelve, and separate them from those of other investors. Furthermore, no one can access them apart from you and your precious metals IRA custodian.

No matter the storage plan you decide on, it is not permanent. You can always change from allocated to segregated vaults and vice versa.

What Makes GoldSilver Unique?

Wide Selection of Bullion Products

The center of any precious metals company in the industry is the kind of precious metals they sell to customers. These precious metals include gold, silver, platinum, and palladium. In addition, the availability of products under these precious metals categories, the cost of these products, quality, and storage contributes to the other determining factors for knowing if the company will be worth investing through.

Out of the four precious metals categories, GoldSilver sells just gold and silver bullion bars and coins, and in the industry, they have more products in these categories than most of their competitors. Also, they sell some of these products for the cheapest prices you can find in the industry.

In summary, what separates this company from the rest is the wide range of silver and gold products they offer its customers; However, this unique advantage needs to be balanced against the fact that they do not offer platinum or palladium products.

How Do Customer Review Sites Rate GoldSilver

BB Review and Customer Testimonials

F

1 review and 3 complaints.

Business Consumer Alllience Review

No Reviews Were Found

No Reviews Were Found

Google review

No Reviews Were Found

No Reviews Were Found

Facebook Reviews

3.7 out of 5 Stars.

The rating is based on 25 reviews.

Trustpilot Reviews

4.6 out of 5 Stars.

The rating was based on 1162 reviews.

GoldSilver Pros And Cons

Pros
Investors can buy precious metals from the company and choose to store them in vaults located in any of the countries available in the list provided by GoldSilver.
Investors can move or retrieve their holdings without problems or hurdles.
You will not need to sign any contract or obligation to use the vaults provided by the company.
The company can ship precious metals within the US and internationally through FedEx, USPS, and UPS.
The company keeps its prices transparent.
Cons
The company is not a BBB-accredited business.
GoldSilver Group only sells gold and silver products, which can be an issue if you want platinum or palladium products.
Some of their IRA-eligible products are not always available, which can frustrate investors who want to buy at that time.
In our testing, we found their customer service team hard to get hold of and not helpful or knowledgeable.

Conclusion to our GoldSilver Review

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 precious metals investment, portfolio diversification is one way to guarantee growth in your investments. To properly diversify your portfolio, you will need other precious metals like platinum and palladium.

To add to this major flaw, some of the products in the company's gold and silver categories are not readily available for purchase all the time. This flaw makes buying your desired precious metals frustrating, especially if you just set up your precious metals 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 their investments grow, so we have researched and identified  the top three 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 helping investors protect and grow their wealth ahead of retirement through precious metals IRA. If you live in the United States, you can never go wrong by investing through our top three GoldSilver alternatives.

Our Recommended Alternatives To GoldSilver Group

Goldco is a trusted brand in the gold IRA industry, and it tops the list on many precious metals review sites like ours.

The company is known for winning multiple awards from reputable firms, celebrity endorsements, and positive ratings on various public rating sites. It is a BBB-accredited business and offers customers the best quality products with world-class customer support.

American Hartford is a renowned family precious metals IRA dealer in the industry. If you are looking for an investment company that offers secondary gold IRA investments to its customers, then you should choose this company. It also offers one of the industry's best promotional and buyback services.

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