Goldsilver is 5th Place in our List of Top 10 Gold IRA Companies:
- BCA Rating: AAA
- BCA Complaints: 0 complaints and 0 reviews in the past 3 years
- BBB Rating: A+
- BBB Complaints: 1 unresolved complaint and 1 One Star review in the past 3 years
- Trustlink: (5/5 stars) based on 3 Five Star reviews
Mike Maloney of Rich Dad/Poor Dad Advisor fame is an avid investor in gold, silver, and other precious metals. He decided to take his knowledge of these valuable commodities and put it to good use. He founded goldsilver.com and began selling precious metals to the public to improve portfolio diversity and acquire better investments.
Remember, there are hundreds of companies selling gold and precious metals online. Making it onto the top 10 list of my all-time favorites is a really big deal. Although not my first choice, this is still an excellent company nonetheless. They have a solid reputation and they’re known for satisfying their customers.
Today I’d like to take the time to tell you why this company deserves to be in my top 10. So, if you’re interested in discovering the truth, please stick around and keep reading to learn more about Goldsilver.
How Goldsilver Stacks Up in our 7 Critical Factors Test
As I’ve mentioned at other times, I take my reviews seriously. I would never recommend a company that I do not believe in. And I would never add a company to the top 10 list if they didn’t deserve to be there.
How do I decide who belongs on the top 10 list? Simply put, I developed a list of seven critical factors that I use to evaluate a precious metals IRA business. I use these factors because they help me effectively measure a company and test their worth. They help me decide which businesses are excelling and which businesses need additional work in particular key areas.
Instead of writing a bunch of negative reviews, I choose to focus on the 10 best companies in this industry based on my critical factors. The 7 critical factors include the following key areas:
- Online peer-reviewed ratings
- Types of precious metals: coins and bars
- Precious metals buyback program
- IRA fees
- Account setup & delivery
- Customer support & salesmanship
As you’ll learn, this company is a deserving choice to make the top 10 list of gold companies doing business in 2020 and beyond. Visit their website to learn more about them.
1. Online Peer-Reviewed Ratings
To start things off, I decided to delve deeply into Goldsilver’s online peer-reviewed ratings. I wanted to see how their customers view them. I wanted to know how well the top ratings websites viewed their performance over the past three years.
So, I decided to begin by looking them up on the Better Business Bureau, Business Consumer Alliance, and Trustlink websites. I learned some interesting facts and statistics as I dug through their pages.
As you can see above, Goldsilver has received the highest rating possible on all three of these websites. This isn’t an easy task to accomplish to say the least. And it’s a part of the reason why I decided to add them to my top 10 list in 5th place.
The other interesting thing about these websites is the reviews. They allow customers to review companies on their website. This is a great way to gather information about the business, whether it’s positive or negative. And it will help you determine whether or not Goldsilver is the right company to handle your gold IRA needs.
Their current and former customers had plenty to say about Goldsilver. Some of the most common things mentioned about them are summed up as follows:
- Goldsilver is an excellent company with a knowledgeable staff. They are willing to pass on their wisdom to their customers. And they’re always ready to help them purchase precious metals for their gold IRA accounts.
- Mike Maloney really knows and understands what he’s talking about when it comes to precious metals. His financial IQ is off the charts. It’s exciting to learn so much from such a well-recognized and respected voice in the precious metals community.
- The economic climate is in serious turmoil. There is a tremendous wealth transfer taking place right now. Money is moving out of the stock market and into commodities like gold and silver. Now is the ideal time to open a precious metals IRA account to secure your financial future. Plus, it’s a great way to add diversity to your retirement portfolio.
2. Types of Precious Metals: Coins and Bars
As an IRA retirement investor, it’s important to only purchase approved precious metals. Otherwise you will go against the rules set forth by the IRS regarding alternative IRA accounts.
On goldsilver.com, they sell precious metals of every type. Some are acceptable as precious metals IRA investments. But many other metals for sale on their website do not have IRA approval. So, keep that in mind if you’re shopping for precious metals for your self-directed IRA account.
The most popular IRA eligible gold and silver products on their website include:
- Gold American Eagle coins
- Gold American Buffalo coins
- Gold Canadian Maple Leaf coins
- Gold Britannia coins
- 1-ounce and 10-ounce Gold bars
- Silver American Eagle coins
- Silver Britannia coins
- Silver Austrian Philharmonic coins
- 1 kg Silver bars
- 100-ounce Silver bars
3. Precious Metals Buyback Program
People run into financial trouble from time to time and they need access to cash quickly. In this situation, you may have to sell some of your gold and silver investments fast. Selling directly to the company you purchase from is usually the quickest, easiest, and safest way to liquidate your assets.
Goldsilver is ready and willing to purchase gold and silver bullion back from you immediately. They’ll purchase your precious metals if you need to liquidate all or part of your investment.
When selling precious metals back to Goldsilver, you are responsible to pay for incurred costs and expenses. Typical selling related expenses include:
- Shipping and handling fees
- Insurance and packaging expenses
- Taxes and penalties incurred when selling investments prior to retirement age
Goldsilver is ready to pay for your precious metals immediately upon receiving the goods. They can pay their customers in the following ways:
- Physical check (no additional charges)
- ACH/EFT/eCheck (free for customers in the United States)
- Wire transfer ($25 wire transfer fee)
Overall, investors have the option to take advantage of segregated storage or co-mingled storage. Co-mingled storage means your precious metals are stored in the same vault with precious metals owned by other investors. Segregated storage means your investments are safely stored in a dedicated vault used solely by you.
Goldsilver makes precious metals storage incredibly easy. They currently use fully audited, insured, and respected third-party vaulting. The storage facilities that they currently use include:
- Brinks Global Services
- International Depository Services Group (IDS)
Each of these storage providers are well respected within the industry. And they have excellent reputations as well. As a customer of Goldsilver, your precious metals can easily be stored in facilities in the following locations:
- Salt Lake City
- Hong Kong
5. IRA Fees
Goldsilver has a hard-to-find fee structure for their customers. The fees that you can expect to incur while opening a precious metals IRA account include:
- No minimum IRA deposit limit (the IRA custodian may have a minimum)
- Account set up fee (Equity Trust) – $50
- Other fees (Equity Trust) include: IRA maintenance fee, full or partial termination fee, distribution of asset/re-registration fee. Visit Equity Trust’s website to read their full fee schedule.
- Other recommended IRA custodians include: New Direction IRA, Goldstar Trust Company, and Strata Trust Company. Each of these custodians have their own annual fee schedules.
- No commitment monthly storage fee at 0.06% per month ($4 minimum fee)
6. Account Setup & Delivery
It’s difficult to determine how long Goldsilver will take to set up your IRA account. Why? They rely on various IRA custodians to handle the account creation process. As mentioned above, they currently recommend four different IRA custodians. Each one of these custodians has their own timeline that they adhere to. You’d need to contact each of these custodians to find out how long it will take to set up your IRA account.
Shipping isn’t relevant if you’re opening a precious metals IRA. But it means something if you’re buying precious metals for personal use at home. Goldsilver’s shipping fees are as follows:
- For orders below $499 there is a flat $25 shipping fee
- Shipping is free for all orders over $499
7. Customer Support & Salesmanship
Based on everything I’ve learned and gathered, Goldsilver has a knowledgeable customer service core staff ready to answer your questions. They provide diligent answers quickly and are always ready to help a customer in need.
From a salesmanship standpoint, my personal experiences are always positive when dealing with the sales staff. Sure, they attempt to sell me precious metals products that I may not necessarily want or need. But that’s their job so it’s expected. They’ve never tried to push or goad me into buying something that I do not want.
GoldSilver Contact Details
- Address: 429 Santa Monica Blvd, Suite 620, Santa Monica, CA 90401
- Telephone: (888) 319-8166
- Neighborhood Phone: (310) 566-0730
- Fax: (888) 303-9956
- Site: www.GoldSilver.com