GSI Exchange Review

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GSI Exchange is one of the newer online precious metal dealers that has been around since 2014.

This is one of the companies that offer non-IRA and IRA precious metal investments to their customers who are interested in diversifying their portfolios for retirement and a way to protect their savings against inflation.

The leadership team at GSI Exchange has many years of combined experience when it comes to precious metal manufacturing, sales, mining, and finance. This precious metals dealer has warehouses and offices in both Canada and the United States.

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GSI Exchange Background

gsi homepage

GSI Exchange is currently one of the leading silver and gold bullion online dealers. Situated conveniently in Palm Beach Garden Florida, this dealer has a very large inventory of silver and gold coins, bars, and rounds, for both collectors and investors.

GSI Exchange specializes in selling U.S. Mint silver and gold bullion coins, along with other mint coins from around the world such as Mexico, South Africa, Canada, and Australia.

The company's inventory also includes precious metal bars from some of the leading refineries such as Johnson Matthey, PAMP Suisse, and Credit Suisse.

These products include 1/20th ounce Gold Maple Leaf to the 100-ounce Engelhard bars. This range allows for a wide choice at competitive pricing along with speedy delivery to each of its customers.

Reasons to Choose GSI Exchange for Your Investments

Here are a few of the top reasons to choose GSI Exchange for your investments:

As one of the global trading platforms, GSI Exchange offers several services and products to its customers. These include stocks, indices, forex, and commodities. 

It is among the fastest-growing global brokerages, which means you can rely on this company to assist you in achieving your goals for financial wealth.

The company has a team of highly experienced traders that share a vision when it comes to offering premium-quality investment opportunities for both collectors and investors across the globe.

In addition to the wide selection of services and products, GSI Exchange also provides support and comprehensive training to its customers.

Services and Products

four gold coins

GSI Exchange offers a range of trading services for precious metals to businesses and individuals.  GSI Exchange provides several options aimed at helping investors to make informed decisions when it comes to their portfolios.

This includes silver and gold IRA plans that allow these types of investors to store or hold physical silver and gold in their individual retirement accounts.

The firm also offers other methods for its clients to store, sell, and buy precious metals through international and domestic storage options, pooled accounts, and more.

Bank Failure Scenario Kit

The clients at GSI Exchange are offered peace of mind that their assets are secure and safe should a bank failure arise. This has to do with the use of "segregated accounts" for each of the customer accounts at several FDIC-insured banks.

This means that your funds can't be mixed up with other corporate funds or customers.  This also means that the funds that you have in your account will be held at a bank (on your behalf) and kept separate from the assets of the bank and other customers.

Should the bank fail, the segregated accounts will be held securely in a trust. The FDIC will then return your assets to you without any delays.

State Regulations on Precious Metals in the U.S.

The purchase of palladium, platinum, silver, and gold is not regulated in the way the U.S. regulates other types of investments.

The Securities and Exchange Commission in the U.S. is responsible for regulating bonds and stocks, but there isn't a central-regulatory body in place that oversees the market of precious metals. 

The reason for this is that bullion is regarded as a type of currency rather than a security. Many states have classified silver, gold, and a few other types of precious metals as "legal tender".

This means these are exempt when it comes to capital gains tax or sales tax when they are sold at "spot price" to a business or another individual.  However, there are a few states in the U.S. that have regulations in place that governs how precious metals are sold.

In most cases, these regulations or laws are in place to safeguard investors in the way of requiring that a dealer is bonded and licensed before they can conduct any transactions that involve bullion or coins.

These laws also require that a dealer must weigh a precious metal in front of their clients and provide a copy of the invoice for each transaction.

What are Precious Metals IRAs?

A precious metal IRA is a type of retirement account that can hold physical palladium, platinum, silver, and gold. These types of precious metals are available for sale in bars or coins, that can either be stored at a depository or delivered directly to your door.

The precious metals IRAs available through GSI Exchange allow investors to buy highly sought-after global products which include silver, gold, and other physical assets that hold real value.

Your investment in precious metals will be protected against lawsuits and creditors and from paper currency devaluation or a decrease in your purchasing power. 

The team at GSI Exchange are highly focused on helping their clients to gain more control over their wealth when they invest in gold.

Entrepreneurs founded this company, and this team is dedicated to helping Americans to start safeguarding the money that they have earned against a highly volatile economy.

What is Bullion?

When it comes to IRAs, the IRS has a highly specific definition concerning bullion. Investors that would like to open a precious metal IRA need to gain an understanding of the way the IRS defines bullion bars and coins.

This applies to Section 5112 of Title 31 of the United States Code.  For gold IRAs, the coins must have a 99.5% purity, which aligns with the standard dictionary definition.

When it comes to silver the IRS only allows a 99.99% purity in a self-directed IRA. Platinum and palladium are required to have a 99.95% purity.  This can also mean that the definitions of IRA-eligible bullion may vary according to the type of precious metal in certain situations.

What is a Proof Coin?

A proof coin is minted specially for collectors. They are typically sold in velvet presentation cases, and also include a certificate that displays their authenticity.

These coins are triple stamped with the use of a coining press that is specially adapted and a specially polished die. This results in a minutely detailed image and soft glaze that appears to hover above a mirrored field.

The proof coins are .999 pure which the U.S. Mint guarantees.

Proof or Bullion: Which is Better?

If your goal is growth or preservation, it is a smarter decision to buy bullion

Bullion coins are best-suited for investing, while the proof coins are best-suited for collecting. 

Even though the standard bullion coins are not as flashy or extravagant, both types will contain the same precious metal amounts. If you had to smelt them down, the value of each coin is identical. 

The proof coins cost more since they are assigned with a "semi-numismatic value". Numismatic coins are collector coins that hold value over-and-above their metal content.

This has to do with whether it is rare, historical, or both. The value of these coins might go down or up which will depend on demand when it comes to the particular coin, rarity, and year. 

If you would like to buy a coin to commemorate the birth of your grandchild or child, or any other date that you hold dear, the proof coins are an excellent choice.

But when you are investing in a precious metal with an understanding that you are purchasing an extremely finite resource, bullion is your best option.

Selling and Buying from GSI Exchange

GSI Exchange is one of the wholesale dealers of different precious metals. This firm also buys palladium, platinum, silver, and gold from its customers.

However, the primary business of this dealer is to sell precious metals to clients to hold these assets as investments. Thes precious metals are sold in different weights, from small coins to 1-kilo bars of silver or gold. The company also sells bullion in jewelry form. 

Unlike many other dealers, GSI Exchange offers an online detailed catalog that you can go through before you decide to place an order. This catalog offers information in detail which includes the prices of each item and how much they are sold for. 

However, it is advisable to first contact the company directly to find out about their availability before placing your order. They offer a toll-free number (1-800-577-3195) that you can call them on, but there isn't an address provided.

So, for those that prefer communicating via e-mail or mail, you will need to dig around online to find these details.  GSI Exchange is also known for revising and publicizing the prices that they are charging for their online precious metals.

This is because these change frequently due to fluctuations in the market. This ensures that their clients are getting the current and correct price value on each item.

If you would like to find out more about how much an item costs or the amount they will pay you for something you are planning to sell, you will need to contact the company directly.

Account Information

You can obtain a free account when you sign up with GSI Exchange. Customers can sell and buy silver and gold at their own risk at market prices.

GSI Exchange does not require a "minimum investment" when opening an account, yet they do charge a $75 annual fee. They waive this fee for customers that reach these tiers:

Clients that are holding more than $49,000 in precious metals are classified as "GSI Elite" members which means they won't be liable for the annual fee. 

Clients that are holding more than $99,000 in precious metals are classified as "GSI Platinum" members and are also not liable for the annual fee. 

Clients holding more than $249,000 in precious metals are known as "GSI Diamond" members and are not liable for annual fees.

The Shipping Process

GSI Exchange offers a very simple shipping process and there are different shipping options to choose from. The cheapest option takes the longest. However, you can also choose the expedited option when you want your products delivered as quickly as possible.

GSI Exchange ensures that orders are both processed and then shipped in 2 business days (after receiving a receipt). 

GSI Exchange has partnered with UPS for all its shipments. This is a very fast method to get precious metals shipped. UPS generally delivers to any location in the U.S. within 2 business days (or less). 

All orders come in bubble-wrapped envelopes and are shipped via USPS First Class Mail (unless otherwise specified). You will be given a tracking number for your shipment.

Contact the company directly if your package is not delivered in 2 weeks from your "expected" delivery date.

The company doesn't cater to additional shipping fees caused by an incomplete or incorrect address. If the package is returned to the company, they will contact the customer to let them know about the charges involved in re-shipping their order.

If an order arrives and it does not include the items that are listed on the invoice, or the product is damaged, contact the company immediately to allow them to deal with the matter.

Reviews of GSI Exchange

GSI Exchange is an online dealer that provides an extensive inventory of platinum, gold, and silver coins. They also provide secure storage of gold and silver coins and bullion purchased.

The Better Business Bureau has given this company an A rating, but there are only 7 reviews listed about the firm.

PROS

  • Competitive prices on bars and coins for self-directed IRA accounts
  • Free shipping for any order over $10,000
  • New investors can open an IRA account with $500

CONS

  • The website does not include a live-chat feature
  • GSI Exchange only has physical-store locations
  • The precious metal selection is limited on its website which makes it harder to compare the prices against any of the other dealers

Conclusion

GSI Exchange sells several types of precious metals, and the range is more extensive than compared of other dealers.

They also offer a gold IRA program, while the website contains important information and learning materials on how to invest in precious metals when using an IRA.

GSI Exchange also offers more prices when it comes to its precious metals when you compare them to many other dealers.

They provide a 0% financing plan when it comes to large purchases, which is not something you will see with most other dealers.

They have a website that is very easy to navigate along with essential information about investing in precious metals and the markets. The customer support team is also beneficial for any person that has questions about the services that they offer.

GSI Exchange has been in business since 2014, and it is the leader when it comes to the industry of gift cards. If you are interested in exchanging your precious metals for bullion, GSI Exchange is an excellent place to begin your journey.

They offer competitive rates, and the range of bars and coins is quite impressive. They also provide expert advice and guidance to anyone who is still new to the market of bullion.

GSI Exchange is a decent company, they are not a scam, but we do not recommend them. They are not the best choice for gold investments and certainly not the best choice for investors looking to build a precious metals IRA.

There are much better companies to work with that we have researched extensively.

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 GSI Exchange, you can go to their website below: