GoldSilver.com Review

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Headquartered in Santa Monica, California, goldsilver.com offers astute investors a wide array of popular gold and silver bullion products that can be housed in a Precious Metals IRA.

The process for establishing a Precious metals IRA is made extremely easy by goldsilver.com.

The company's preferred provider of this type of IRA is the well-known Equity Trust Company, however, it also supports custodians such as the Goldstar trust Company and the equally renowned Strata Trust Company, as well as New Direction Trust Company.

This offers clients exceptional choices. 

The company is focused on providing its valued clients with the most up-to-date information on investing in precious metals. Clients can access this information on the goldsilver.com website by using the 'Resources' menu. There is also a comprehensive 'News' section on the site.

Before we get started with this review:

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About GoldSilver.com

goldsilver.com homepage

It is well known that precious metals are a haven in times of economic uncertainty - and GoldSilver.com was established to meet the increasing demand for precious metals. 

The question on the minds of folks contemplating investment in these metals is how well does the service provider measure up when compared to the competition? 

GoldSilver.com is extremely competitive but offers a more limited range of services than some of the larger operations of this type. 

For instance - it cannot go head-to-head with AMPEX in terms of variety, which is a global leader in the gold and silver industry. However, the selection of coins is more than adequate for the average investor.

It also has built a great reputation for exceptional service and it has some unique features that give it personality, rather than the sometimes 'vanilla' offerings of the competition which could be viewed as simple online catalogs.

A great example of the site's idiosyncrasies is the fact that the site owner often posts copy that covers a wide range of politically orientated content. Which adds value to the user experience as they browse.

The company also offers a buyback service, including those products that investors have purchased from its catalog. This places it on par with the professional levels of service offered by global leaders such as AMPEX.

An added attraction for philanthropists is that the company also donates a portion of its profits to charity. Making the satisfaction of a great investment even more fulfilling.

Goldsilver.com - Senior Management

Customers will be heartened to hear that founder Mike Maloney hosts the well-known show 'Hidden Secrets of Money'.

He also serves in an advisory capacity for Rich Dad/Poor Dad and is the author of the bestseller 'The Guide to Investing in Gold and Silver'. His Youtube channel boasts more than 50 million views.

GoldSilver.com Products

gold coins

The key to a great investor experience is the catalog of products available. These may include gold, silver, palladium, and platinum products.

The company's selection of products (premium over spot) should be compared to the industry average and many other factors all contribute to the buyers' decision whether dealing with the company offers value in terms of the user experience.

Goldsilver.com focuses on two precious metals used for bullion coins - gold and silver. This is not necessarily a weakness, these types of coins are at the core of most portfolios. A small minority of buyers are in the market for palladium and platinum.

However - if your portfolio needs require diversification including those two metals you will need to look for another supplier. 

The selection of bullion coins, bars, and rounds offered by goldsilver.com is not large - in fact, they can be viewed on a single web page. However, this is suitable for those who are collecting for bullion value, rather than building a coin collection.

There are a solid number of different coins in various sizes available - albeit limited to American Gold Eagles and the ever-popular Canadian Gold Maple Leaves. The available bars are supplied by Credit Suisse and Johnson Matthey. 

Coin sizes range from 1/10 ounce to quarter ounce and the standard 1 Troy ounce. The South African Krugerrand and the Austrian Philharmonic are the only non-North American coins on offer.

The bar selection has something for everyone, ranging from one ounce, ten ounces, one kilogram, and the mammoth four-hundred-ounce option.

It should be noted that the silver offerings on goldsilver.com are much more limited than the gold selection. They only stock six bullion variants. Some will find this puzzling, given that silver has a wider appeal than gold, due in part to the lower spot price.

The selection includes one-ounce versions of the Silver Maple Leaf, Silver Philharmonic, and Silver Eagle. The Liberty Silver Round is also available and bars in ten-ounce and 100 ounces complete the collection.

Precious Metals Storage Options

Most experts agree that it is preferable to store precious metals at a secure facility, rather than at home. It lowers the risk of owning these materials considerably. Goldsilver.com has storage options in:

Salt Lake City
Toronto
Hong Kong
and
Singapore

Buying precious metals from golsilver.com means also having access to the company's safe vaults. Your investment will be kept in a secure and insured vault that features a state-of-the-art security system that operates 24 hours a day throughout the year.

Investors can manage their gold and silver from anywhere on the globe. This means they can easily transfer, liquidate, sell or take delivery of metals. Goldsilver.com will levy a set charge for several security options - and the investor owns the gold and silver.

What is a Gold IRA?

A gold IRA is a retirement-orientated account designed for those who hold physical gold. It is the perfect vehicle to diversify savings and offer an exceptional hedge against inflation. As with other types of IRAs they also offer a variety of tax benefits.

Physical gold falls into the category of 'alternative investments'. Which are not usually permitted by standard IRAs. Gold IRAs are what is known as 'Self-Directed IRAs'. They allow for alternative investments subject to IRS rules.

Government regulations dictate what sort of gold can be held in Gold IRAs - as well as where it must be stored.

However, this is no obstacle to investment as Gold IRA companies make it extremely easy to meet IRS requirements, making these sorts of IRAs an attractive retirement investment opportunity.

Frequently Asked Questions

What if I have already invested in a self-directed IRA? 

That's no problem. As long as that IRA is with a custodian we recognize you can go right ahead and start your gold investment. When shopping for gold and silver remember that only some products are eligible for investment due to IRS rules.

You can find further information in the product descriptions. Remember to select the IRA option when you reach checkout.

How does a self-directed IRA differ from one available from a brokerage? 

The differences are minimal, aside from the ability to choose other classes of investment. The term 'self-directed' is one used by custodians who offer many different asset classes (for example real estate and precious metals and business loans).

A brokerage IRA follows the same rules and regulations - but offers a more limited set of asset classes, like publicly traded stocks and bond instruments. This may be referred to as a 'Walled garden' - due to the limits imposed by the supplier.

It's like America Online (old) and the World Wide Web (new). There's nothing wrong with investing in a traditional IRA (if you recognize the limits) - but self-directed offers a far greater choice.

In most cases, funds can be transferred between IRAs without incurring a tax penalty. All it takes is the completion of a form with the custodian. This will allow for the use of both IRAs concurrently.

What about using my 401(k)? 

Using a 401(k) can be problematic as it is a type of 'Walled Garden'. Some only offer a set of pre-approved investments allowed by your company, while many offer selections from the holding brokerage.

However, you can roll over your 401(k) into alternative investments (such as gold and silver) into a self-directed IRA - and then make use of those funds for investment purposes.

If your 401(k) is from a former employer you will usually find that there are no limits to the rollover.  However, should you be currently employed you are advised to contact your 401(k) provider and enquire whether they will allow what is called an in-service rollover.

The Process of Buying from Goldsilver.com

Santa Monica is well-known for being the location of one of America's first gold rushes (known as the 'Forty Niners' due to rush activity reaching its height in 1849). This is where goldsilver.com is headquartered. 

The process of making payments to goldsilver.com can be complex. cash is out of the question - a common practice by those companies that are not trading from a 'Real World' location. 

Ordering online requires the use of a credit card, rather than actioning the purchase via telephone. There is a reason for this, a deposit of between 5% and 15% is required before the purchase is actioned.

You will not be able to use your credit card to pay for the entire order when purchasing online. You can only pay the deposit with your card when ordering online. 

Once you have made that initial deposit you then have three options to settle the outstanding amount.

A wire transfer made at a bank - and that must take place within 48 hours of placing the order, you can also pay by money order - and the purchase will immediately be actioned once that order is received and finally you can pay by personal check.

That will be held until the fund has cleared (a process that can take up to eight days). For clients outside the borders of the United States, the only option is a wire transfer. 

Goldsilver.com will accept orders from about 40 countries around the world. These are not listed on the website. Orders in the U.S. are despatched by the USPS (United States Postal Service), FedEx (Federal Express), or by UPS.

International orders are delivered by either FedEx or UPS. The USPS is not an option because it cannot provide international tracking services. All shipments are comprehensively insured - and are guaranteed.

Another option is to store your bullion in the company depository in Salt Lake City (Utah). Although this can prove a problematic approach for those who are outside of the U.S.

Is Goldsilver.com a scam?

Most assuredly not. It is recognized as one of the largest and most reputable offshore metals holding companies in the world. They boast a score of 4.1 (out of 5) on Trustpilot. Based on 1,048 user reviews.

The only issue that may be of concern is the fact that only 76 percent gave the company that coveted 5-star rating. 2 Percent gave the company two stars and the remainder scored it one star. This means that 10 percent of the customers were dissatisfied with the service. 

There are companies of this type with better ratings, that we have written about extensively on this website - and they are worth investigating. 

Conclusion

Goldsilver.com is an popular option for those wishing to invest in bullion. But it may not be up there with the very best. It has some dissatisfied customers, and it sometimes offers bullion that is not actually in stock.

Are their prices good enough to offset these concerns? That is open to debate.   

When all is said and done - it's a good company, but perhaps not a great one. But when everything is taken into account some of the issues that have been highlighted make it difficult to wholeheartedly recommend its services.

It falls just short in the face of some very able, and well-established competition.

As mentioned above Goldsilver.com is decent company but we do not recommend them.  

They are not the best for cash purchases and definitely not the best option for investors looking to protect their savings with a precious metals IRA, like other companies we have covered.

You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:

Click Here for Our List of the Best Gold IRA Companies to Invest With

Or, if you like what you have read about Goldsilver.com, you can go to their website below: