GoldSilver.com is a precious metals company that has been in business since 2005, with an overall goal to help make it simpler for investors to add physical gold and silver to their portfolios.
The company also boasts that, outside of offering a wide array of bullion products, their customers also have access to private vault storage and global shipping. They can also choose from various payment options to help make it easier to invest with them.
Short overview of what we think of GoldSilver.com
Company name: Goldsilver.com
BBB grade: not accredited
Summary: GoldSilver.com promises to be the “it” company for investment-grade gold and silver at the lowest premiums. They also boast that their team of experts is led by none other than globally-known finance and economic guru Mike Mahoney.
The company also has over 1,000 positive customer reviews to attest to their promise of stellar service. However, with more than 60 customer complaints, we can't recommend them as a precious metals company you should work with.
Our score: 3/5
Should you work with Goldsilver.com in 2023?
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Experienced, Globally-Renowned Team Leaders
GoldSilver's team leaders are two of the most globally recognized experts on precious metals, so they state their customers can trust their expert advice.
Mike Maloney, the founder and team leader of GoldSilver, is valued on Wall Street and more for his insights on economics and is also the author of Guide to Investing in Silver & Gold, which is a #1 best seller. He also hosts the Hidden Secrets of Money and is a YouTube phenomenon.
The other team expert, Jeff Clark, is also an author and former senior editor of the widely recognized BIG GOLD publication. However, he is probably most notable as an accomplished analyst and global authority on precious metals.
They Help Make Investing in Gold and Silver Easy to Understand
As part of their goal to help make it easier for customers to invest in gold and silver, GoldSilver also offers several investor resources on their site.
They state that these resources include educational videos, guides, recommended readings, and more, which were carefully selected by their team of experts for their straightforward concepts that can be grasped right away.
The company boasts that their investor resources are so comprehendible they are hailed worldwide.
Everything You Need to Know About Gold and Silver Values
GoldSilver also offers a single page devoted to nothing but all topics regarding gold and silver values on their site.
For instance, there are live price charts to help you stay up to date on the latest silver and gold spot prices in real time.
There is also loads of information on the historical values of silver and gold, so you can compare their current rates to their previous ones to help better time your investments and more.
You can also find information on price predictions for gold and silver, which you can also use to help better time your investments.
Lastly, they also include an extended list of answers to some of the most commonly asked questions concerning factors affecting gold and silver rates, how the gold market differs from the stock market, and more.
They Only Offer Investment-Grade Bullion Products
GoldSilver states that they make a point to carry only the most in-demand, investment-grade precious metals to help ensure a quick resale when you are ready.
Some of their bullion products include
- 1 ounce Canadian Gold Maple Leaf Coin
- 1 ounce American Silver Eagle Coin
- 1 ounce Australian Philharmonic Gold Coin
- 1 ounce South African Krugerrand Gold coin
- 1 ounce Gold Bar
- 1 ounce Silver Bull Round
- 10 ounce Credit Suisse Gold Bar
- 1 Perth Mint Gold Bar
- And More
They Also Offer Investment-Grade Jewelry
According to the company, it has partnered with some of the best jewelry makers in the industry to enable customers to also invest in Bullion Jewelry if they like, which offers the same discreet way to hold and transfer wealth as coins.
It is also available in the same 24-karat and 22-karat gold purity as the 24-karat and 22-karat minted gold bar and coin products.
Customers are also promised the lowest premiums on their gold and silver bullion products, which is just another way the company helps make investing in precious metals easier.
They also guarantee to match any charge that's lower than theirs to help ensure you get the best deal.
Convenient Shipping to Almost Anywhere in the World
When you purchase bullion products from GoldSilver, they also boast secure, discreet shipping to just about anywhere worldwide, including small investments.
However, shipping and handling costs apply, which they explain on their site. Customers are also responsible for insuring their packages while in transit to their homes. So, again, be sure to check their site for more details on shipping, handling, and insurance.
They Offer IRA-Approved Coins and Bullion Too
GoldSilver states that their products also include investment-grade IRA gold and silver bars and coins for future retirees. They also provide the same tax-deferred benefits as traditional individual retirement accounts.
Investment-grade IRA precious metals simply mean they meet the IRS's requirements for purity and manufacturing self-direct retirement accounts. You can learn more about the specific requirements of investing in gold and silver for your IRA by visiting the IRA-eligible gold and silver sections on their website.
If, after your research, you decide that a GoldSilver IRA is for you, their team will work with you to roll over all or some of the proceeds from your current retirement account into their precious metals IRA.
The transaction is also penalty free, provided your funds' transfer is complete within the IRS allotted time of 6 months.
They Work With Trusted IRA Custodians
Though a gold IRA enables investors to add physical gold and silver products to their portfolio for retirement, a custodian must facilitate the transactions on their behalf. Otherwise, according to the IRS, you forfeit all tax benefits for your account.
Hence, if you want to invest in precious metals as part of your IRA, you must choose a custodian to manage your account activity until you retire. However, you have total control over the gold and silver products you want to add to your account, and they are also held in your name for complete ownership.
They also work with Equity Trust, Strata Trust Company, and New Direction Trust company, which are some of the most experienced and trusted custodians in the field.
You can also access each custodian's site and sign up for their account right from GoldSilver.com.
IRA-Approved Secured Storage
Once your custodian completes your investments for your IRA, they are also required to have it transported to a secure, IRA-approved storage vault for safekeeping until you reach age 59 1/2. However, you can withdraw your investments whenever you want but not without high costs.
GoldSilver states that it works with Brinks and International Depository Services Group as its chosen depositories. They have locations throughout the United States, including Salt Lake City, Utah, and Dallas, Texas, and they also provide full vault insurance and auditing.
Again, the company helps make it easy to visit each storage facility's site to learn more about them and sign up for an account right from their site. They also conveniently list their storage options and charges on their site to help you choose the best vault for you.
They Offer to Repurchase Your Precious Metals
GoldSilver also has a sell-back policy that allows you to trade in your gold and silver to the company for cash, provided the items are in good condition. They must also be identical to the products sold on their site and offered in the same quantities to qualify.
You are also responsible for packing and shipping the products to the company. However, they state they make it easier to sell the products to them right from the privacy of your account.
It can also take up to 15 business days to receive your shipment. But once it is received, the company states that you will typically receive your payment within 3 business days, depending on your chosen payment method.
They Charge for Domestic Shipping
GoldSilver charges its customers for shipping, handling, and insurance for domestic deliveries under $499. However, as far as we know, many other precious metals companies provide domestic shipping and insurance at no charge.
Is GoldSilver a Scam?
When searching the internet for “Is GoldSilver a scam,” it returned several pages with reviews on their company, so we skimmed through them to see how their customers felt about it being a legit business, and this is what we found.
BBB Customer Reviews
We found 2 customer review on their BBB profile page; however, it did not mention any complaints of GoldSliver being a scam. As you can see on the image above, the company is rated F and isn't currently accredited. Not a good sign for potential clients.
Trustpilot Customer Reviews
A Trustpilot review page also appeared in the search results page for the company, but no customers there stated they felt it wasn't a real business either.
We found no consumer review pages from Consumer Affairs, Consumer Alliance, Yelp, Trustlink, or Google Reviews. So we decided to research them separately for GoldSilver customer reviews because they are also reputable sites to find out about a company before doing business with them.
Unfortunately, of the five popular sites, the only one that contained any reviews on the company was Trustlink. However, none of them were about GoldSilver being a scam.
We also conducted a specific search for the company being a scam on several .gov sites.
If a business raises a red flag with a government authority, there will be information about it contained on their site, including any official lawsuits they have filed against the company on consumers' behalf.
Of the .gov sites we checked, there were no official lawsuits or complaints about GoldSilver being an illegal business. So we can only assume that GoldSilver is a real business that offers genuine gold and silver products to the public.
How is Their Customer Support?
GoldSilver promises that as part of their commitment to making it easier to invest in precious metals, customers can contact them via chat, email, or phone, and they will be available to help answer any questions they may have before and after investing with them.
However, we found several customers on Trustpilot who stated this was not the case with them.
One customer who had been doing business with GoldSliver for years complained of receiving terrible customer service when they contacted the company regarding a shipping issue.
They further added that the issue didn't get resolved until they finally threatened to receive a refund. Hence, they ended by stating they won't be doing business with GoldSliver in the future.
What Another Unsatisfied Customer on Trustpilot Had to Say
Another Trustpilot reviewer stated that they were repeatedly ignored after reaching out to GoldSilver several times via email regarding a wire transfer for their sell-back order.
They stated that they also received nothing but an automated reply when contacting them by phone and no callback. However, once they shared their experience with the company on Trustpilot, a GoldSilver representative finally responded to them.
At least 2 to 3 other customers on Trustlink stated that they were ignored by the company or their representatives were slow to respond when they contacted GoldSilver for questions about their orders, refunds, or shipments.
One customer also stated they were unable to leave a voice message on the company's voicemail because it was full, which was frustrating.
Over 1,000 Positive Customer Testimonies on Trustpilot
Though 6 to 10 percent of GoldSilver customers on Trustlink felt their customer experience was bad, the majority of reviewers, which equals more than 1,000, shared they had a great customer experience with the company.
Has There Been Any Complaints About GoldSilver?
GoldSilver also promises to support their customers by providing them with top-notch bullion service and investment-grade products at the lowest premium prices to help make them both easier to invest in and trade.
They also promise to thoroughly educate their customers to help make owning gold and silver more accessible for experienced and novice investors.
Customers also enjoy shipping to just about anywhere in the world, and they also offer flexible payment options, including Bitcoin and Bitcoin Cash, for added convenience.
So are there any customer complaints regarding their promises of affordable products and world-class service? We did find a few.
BBB Customer Complaints
GoldSilver only has one review on its BBB profile page, but it is a customer complaint about the high shipping they felt they were charged for just a small investment.
They also complained that they were charged even more and taken through a loop when trying to have their missed shipped package resent to them.
Over 60 Complaints on Trustpilot
Trustpilot also had one reviewer share a similar experience that their shipment was missed and that they, too, experienced a lack of communication with the company when trying to have their returned package reshipped to them.
Another disappointed GoldSilver customer complained about the quality of the products they received and that they also weren't satisfied with the price. They also stated that the products were recommended to them by the company.
There was also another customer complaint about the poor condition of their silver bars, which they felt decreased their worth.
So, overall, GoldSilver has an overwhelming number of customer complaints about high shipping costs, unreliable and/or slow order processing and shipping, and poor communication when it comes to solving the issue or receiving a refund.
GoldSilver had no customer reviews on Google Reviews, Yelp, Consumer Affairs, or Consumer Alliance; however, they did have 3 reviews on Truslink, which were all positive and spoke about the high level of precious metals education they received before investing.
They Only Offer the Most Popular Investment-Grade Products
We like GoldSilver's idea of offering only the most popular investment-grade products to help make it easier to resell them when you are ready.
Lots of Custodian and Depository Information Available
It is also good that the company provides lots of custodian and depository information, including their location, phone number, and a link to their website, for IRA investors to help them make the best precious metals management and storage options based on their needs.
We also like that they help make it easier to open an account with them right from the GoldSilver site.
Not BBB Accredited
GoldSilver is not accredited by the BBB, which is not necessarily a big deal, but we find it easier to trust companies that are because it means they have passed strict third-party testing as an ethical company.
However, they do have over 1,000 positive customer reviews that back them up as a good company.
An Overwhelming Number of Negative Customer Reviews
With all the favorable customer reviews that GoldSilve has on Trustpilot and Trustlink, they also have over 70 customer complaints on Trustpilot one on the BBB site, which we find disturbing.
They are also all involving the same issues, including missed shipping and an inability to reach the company when a problem arises, which is a lot to stomach after investing hundreds of dollars in precious metals.
For this reason, we can not say with certainty that GoldSilver is a precious metals company you should invest with. Instead, we urge you to contact the company to gauge them for yourself and stay up on their customer reviews across various sites before investing for greater confidence.
Would you rather invest in silver?