There are numerous companies selling silver and gold online and Gold Broker happens to be one of them. If you’ve desired to find the best company to buy precious metals from at this time, you may have even stumbled upon Gold Broker and tried to figure out if they were the best choice to meet your personal needs.
Throughout the article today, we’ll take a look at this company from a well-rounded standpoint and share information about their history, the services and products that they offer, and we’ll even fill you in on previous customer experiences and reviews and things of that nature.
IMPORTANT – before we get too far in this review, we’d like you to know we’ve vetted quite a few companies in this space.
We know that selecting a company to work with is a major financial decision and something not to take lightly. InvestingInGold.com has put in extensive research spanning many years in order to compile a list of the 5 highest recommended companies for this year.
==> See our #1 recommended company for precious metals investing
We urge you to view the links to see where GoldBroker stacks up against the competition.
Gold Broker Company Information
With more than a decade of experience, this company was originally founded in 2011 by Fabrice Drouin Ristori. The founder of the company has a background in finance and even has an entrepreneur and finance Master’s degree from Kedge Business School. He created this company as a way for customers to easily invest in precious metals including gold and silver bullion and to purchase them from a secure website that keeps customers outside of the banking system.
Gold Brokers will move their headquarters to London in 2020, effectively placing them in the gold trading center of the world.
Buying Bullion
This website provides their customers with a wide variety of silver and gold bullion options. Each one of their bullion pieces is from well-known and respected mints around the world and the London Bullion Market Association has certified them.
Both silver and gold bullion must have a purity level of 99.5% or higher. It’s possible to purchase silver bars and coins and gold bars and coins for a precious metals IRA from this website. Gold broker offers a number of different options that include:
Gold Coins
- American Eagle Gold Coins – 1 Ounce
- American Buffalo Gold Coins – 1 Ounce
- Canadian Maple Leaf Gold Coins – 1 Ounce
- South African Krugerrand Gold Coins – 1 Ounce
- Austrian Philharmonic Gold Coins – 1 Ounce
- Britannia Gold Coins – 1 Ounce
- Australian Kangaroo Gold Coins – 1 Ounce
Gold Bars
- Gold Valcambi Bar – 1 ounce
- Gold Valcambi Bar – 100 g
- Gold Valcambi Bar – 250 g
- Gold Valcambi Bar – 500 g
- Gold Valcambi Bar – 1 kg
- Gold Credit Suisse Bar – 100 g
- Gold Credit Suisse Bar – 1 kg
Silver Coins
- Canadian Maple Leaf Silver Coins – 1 Ounce
- South African Krugerrand Silver Coins – 1 Ounce
- Austrian Philharmonic Silver Coins – 1 Ounce
- Britannia Silver Coins – 1 Ounce
- Australian Kangaroo Silver Coins – 1 Ounce
Silver Bars
- Silver Valcambi Bar – 1 kg
- Silver Asahi Refining Bar – 1 kg
- Silver Royal Canadian Mint Bar – 100-Ounce
- Silver Bar – 1000-ounce
Precious Metals IRAs
Anyone looking to create a diversified retirement portfolio should consider opening a precious metals IRA. Connecting with a gold broker is a great way to get started. They have connections with IRA custodians that initiate the funds transfer or 401(k) rollover into your new eligible IRA. They’ll help you set up the account, purchase silver and gold bars and coins, and ultimately create a thriving investment account.
Storage
When you buy precious metals for a gold IRA account, you must keep it stored in a depository approved by the IRS. So, when you finally take the plunge and decide to initiate a 401(k) rollover into an IRA, your gold company of choice will connect you with an IRA custodian that will also help arrange keeping your investments secured in a metals storage facility.
This only happens if it’s for a precious metals IRA. You do not have to store your personal investments in an approved vault, although it isn’t necessarily a bad idea. It’s your freedom to choose however you want to store your gold if it’s for your personal account and has nothing to do with your retirement account. With a gold broker in place, you can have your precious metals shipped directly to you at home, or you may prefer to keep them safe in a storage facility.
Malca-Amit is the Gold broker storage facility of choice and they have many locations across the world. They have facilities in Singapore, Toronto, Switzerland, New York, Zürich, and more. Keeping your precious metals investments safe in one of these highly secured facilities is an alternative way of accruing wealth outside of the traditional banking system.
Keeping your precious metals stored in a facility other than a bank provides added protection in case the government ever tries to confiscate it. It also prevents other potential issues from arising regarding your precious metals.
Anything stored in this facility is in your name alone. You always have access to these metals, and if you give 48 hours of advance notice, you can walk in and view your metals at any time.
Shipping
Whenever an order is placed through Gold Broker, they ship it to their clients for free. And if the precious metals order that is placed is worth more than $250,000, they will ship it via armored car service but there is a fee attached to this one based on the weight and the number of items purchased. The company only ships to the US and US territories with the exception of France, which is the only international shipping that they do.
They ship out orders very quickly, which means that most of the orders will leave Gold Broker’s facilities within three days. In many cases, the items usually ship quicker than that. And each one of the shipments has insurance to protect against loss or theft. They require a signature upon delivery to confirm that you safely received your precious metals.
Gold Broker Buyback Program
Anytime you buy precious metals from this website and store them with their storage facility Malca-Amit, the buyer becomes eligible to participate in their buyback program. If for some reason you decide to sell your precious metals, Gold Broker will repurchase them from you. Just reach out and let them know that you have certain products that you like to sell them from your storage facility. After the sale is confirmed they will initiate a wire transfer to move your payment from their bank account to your bank account.
Investor Information
If investing is a brand-new experience for you and you’ve never purchased silver and gold, you will have access to a number of helpful resources on the Gold Broker website. They have charts to view and they share the silver and gold spot price with their readers live as it changes throughout the day. They also offer historical charts, which helps you track the value of precious metals throughout the years.
On their website, you will even find access to a newsletter, investing guides, and investing videos that beginners and novices will find very helpful.
Potential Red Flags from Gold Broker
Making investments to buy silver and gold is a big deal. Performing your due diligence is always the best thing to do before choosing a company. You have to make sure they are trustworthy and worth your time and attention. One of the biggest ways to find this out is to find out more about other people who worked with the company in the past and read about their experiences.
If you know other people who have worked with Gold Broker, you can always ask them about their experience. The next best thing is to read online reviews about the company on the web. The Better Business Bureau, Trustpilot, Business Consumer Alliance, and Trustlink are all great places to start your search for reviews. Their other review websites out there as well that you could check out.
- BBB – not accredited and not rated on their site
- BCA – not rated on their site
- Trustlink – not rated on their site
- Trustpilot – 4.8 out of five stars and more than 35 reviews
Is It a Scam to Do Business with Gold Broker?
Absolutely not, I could never tell you that Gold Broker is a scam company. They are definitely a legitimate group that sells silver and gold bullion. And since most of the reviews found about them online or positive, you should get everything that you expect from them if you decide to work with Gold Broker.
With that said, is Gold Broker really the best company to work with? In truth, we do not think so. They do have great reviews online, but the business wasn’t greeted by the BBB or BCA, which is a big red flag. Although this rating isn’t necessary, it definitely goes a long way in helping us get a better understanding of the company and learning about their overall business practices.
Gold Broker remains incognito about their commissions and fees as well, which isn’t the greatest thing to know when you’re buying precious metals. Without knowing these upfront fees, it makes it very difficult to compare this company to others within the industry.
Lastly, you can only buy silver and gold at Gold Broker. This isn’t the best option because you may want to purchase palladium and platinum coins and bars for your portfolio as well. You’re going to miss out on further portfolio diversity in a big opportunity at the same time.
Gold Broker Features
- The company was founded in 2011
- You can buy silver and gold bullion coins and bars from their website
- they have a working relationship with IRA custodians
- They use Malca-Amit as their preferred storage facility
- They ship all orders below $250,000 for free
- They ship all orders over $250,000 with an armored car service
- They have a buyback program in place as long as you store your metals with Malca-Amit
- They share useful investment information on their website
Bottom Line
It’s your choice regarding who you decide to work with when picking a gold company to set up your precious metals IRA. Personally, I wouldn’t recommend doing business with Gold Broker because of the unfortunate red flags that we uncovered earlier.
For starters, they aren’t accredited with the BBB or BCA and they aren’t rated there either. They do not sell platinum or palladium to investors. And even though they have a pretty great reputation, they keep their fees hidden which is a potential red flag as well.
In all honesty, there are many great gold brokers to choose from at this point. You’re better off picking one with greater transparency and a better reputation in our humble opinion.
About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He's also a published author, and his views on investing have been featured in USA Today, Tech Times, The Huffington Post, Nasdaq, and many more.
