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Goldsilver.com is a company that has been in operation since 2005. Founded by precious metals expert Michael Maloney, the company has gained a reputation for solid gold and silver offerings. But are they actually the best company to invest with? Here's what you should know prior to getting started.
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About the Company
GoldSilver's ultimate goal is to make it easy for people to invest in gold and silver. In addition to serving US clientele, they also ship precious metals to 90 different countries. They specialize in selling gold and silver bullion, but they also have multiple shipping options, private vault storage services, and payment methods available.
You can purchase precious metals and have them stored in one of four private vault locations. Once you make an account with the company, you can sign in and manage your holdings online. That includes buying precious metals and choosing where to store them. You can also sell them or have them delivered directly to your home.
One of the potential advantages of this company is that they offer contract-free storage. If you decide that you want to work with a different depository instead, there's no hassle involved in withdrawing your metals. You have complete ownership of your holdings, and you can quickly liquidate them when necessary.
Vaults are located in the following countries:
There is only one depository option in the US, which is located in Salt Lake City. This might be a drawback if you're looking for very specific storage in your region.
GoldSilver's founder continues to have an active role in the company today. Mike Maloney is a bestselling author, video webinar host, and longtime precious metals expert. Today, he often travels to places all over the globe to give lectures and insights regarding the precious metals market.
Mike Maloney is famous not only within the precious metals sector, but also on Youtube. His finances channel has almost 50 million total views from people who want to learn the basics of the economy.
The other biggest player in the company is Jeff Clark, a financial analyst and author. He has been recognized all over the world as a leading expert in the precious metals market. In fact, he grew up within the industry, as his family has claims to three different mines in the US.
Jeff loves writing and investing. He often travels to speak with crowds about the benefits of precious metals. His past work involves analyzing the mining and precious metals industries, and he even worked for a decade as a senior editor for a major global gold publication.
Support and Customer Resources
There is a wide variety of support and resources available through the company website. You can usually find what you're looking for, and there are educational tools to learn about the benefits and risks of precious metals investment.
If you have questions or concerns, there are three ways to contact the company. You can call them over the phone, start a live chat on the website, or email the support team. Some customer reviews seem to indicate that you might have a more positive experience if you use the phone support than the chat support.
GoldSilver has a library of educational content that includes guides, articles, and even videos. The company's team helps to distill complex financial concepts into easily digestible lessons, which makes it simple for inexperienced people to gain insight into their finances.
You can get a book from the company for free. This book, written by Mike Maloney himself, was a worldwide bestseller. It teaches you about monetary history, precious metals investments, and why precious metals investing is a solid choice for investors of any type.
The company has also created a documentary series called Hidden Secrets of Money. This was what introduced many customers to the precious metals market in the first place. It shows you the role that the government, the free market, and different economic principles have in your financial wellness. Beyond precious metals, it also covers fiat currencies and different economic structures.
There is also an effort by the company to stay up to date on the latest financial happenings. They frequently publish articles, blogs, and newsletters that tell you what you should know about the state of the precious metals market. You can sign up to get emails with critical economic updates.
Once you get set up with an account through Goldsilver.com, you'll be able to keep track of your holdings and their storage. When you're ready to liquidate your assets, you can sell them back to the company. There are live bid prices posted on the website, which are updated automatically as the precious metals market fluctuates.
After selling the items, you will either receive a wire transfer or a check mailed for the funds. This should happen in less than four business days following the verification of your shipment. The company does need some time to make sure that your items are all of the pre-discussed quality.
You must meet these conditions to be eligible for the buyback program:
Is Goldsilver.com a Scam?
GoldSilver is definitely not a scam. This company has been founded by a well-known expert in the precious metals industry, and it has a high level of transparency regarding its management. Though some websites show mixed customer reviews, the majority of online reviews on Trustpilot have been positive.
While the company does not ship to every country in the world, it does ship to about 90. You can find out whether yours is on the list.
GoldSilver has not been accredited by the Better Business Bureau, and it has a C rating. That indicates that it might not have the best customer service or the most transparent policies. The BBB website has just one customer review, which gives the company 1 out of 5 stars. It has also had 2 complaints filed in the prior twelve months.
Though GoldSilver is a legitimate business run by industry experts, you might want to invest elsewhere. There are other companies that have higher BBB ratings and more robust services, especially if you're interested in opening a precious metals IRA.
There have been two official complaints filed with the BBB in the past year, along with an unflattering customer review. One of the complaints has not been responded to, which is why the company's rating has gone from an A+ to a C.
Let's take a quick look at what they have to say.
The review was written in February of 2021. It said that the customer experienced passive aggression when seeking online customer support. When they called in, they had a better experience. The company mixed up the customer's shipping and billing addresses, and then they blamed the customer for the problem.
The customer said that they were sent passive aggressive emails that shifted the blame from the company. They were very unimpressed with the service they received. They said that they expected much better service from a company they spent hundreds of dollars buying from. There has not been a response from the company.
The details of the official complaints have not been made available online. One was related to an issue with a product or service, and the other was related to billing problems.
Without the complaints or the company responses available to see, it's difficult to evaluate whether the response was satisfactory.
Pros & Cons of GoldSilver.com
Goldsilver.com is a popular website for buying precious metals. Having been established by an expert in the gold and silver industry, it is trusted by users in 90 different countries. There are also largely positive customer reviews online. However, there are a few potential drawbacks of this company.
One potential issue is a lack of transparency. The company is very transparent about its ownership and management, but it doesn't seem to perform well in complaint resolution. Some customers have complained that the online service is shoddy. There is also a C rating with the BBB, indicating that they haven't communicated as well with their customers as they could have.
The company's inventory is also often out of stock, so you might not be able to get the gold and silver pieces that you want. There are no options to invest in platinum or palladium. While this is to be expected given the company name, it can be a drawback for those who want a more diversified portfolio.
Finally, they don't have very many IRA options. They do have a list of custodians that they recommend working with, but they don't streamline the setup process the way that more specialized companies do.
At the same time, their global shipping might appeal to international customers. If you're in one of the 90 countries that can receive items, you might consider investing with GoldSilver. Though they might not have the best customer service, they definitely aren't a scam. So it's up to you on whether or not you want to make an investment.
Overall, we believe that there is a better option when it comes to your investment.
The above company is our top recommendation after doing extensive research. Feel free to keep doing your own research, or you can visit GoldSilver.com below!