If you search online, you might find more than one helpful post or review about different gold-selling stores. Govmint.com might appear on your search, so read on, and find out everything you need to know before committing to anything.
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
==> See our FULL list of the best 5 companies to help you buy precious metals, (for retirement IRA’s, and for Non-IRA’s.)
We urge you to view the links to see where Govmint stacks up against the competition.
Review of the Site
Many companies choose words that look official and add them to their names. It’s often a strategy to make the corporation look better so that customers can blindly trust that it can provide them with what they’re looking for.
Unfortunately, in a lot of cases, the names the companies choose have nothing to do with the business. With regards to Govmint.com, for example, the site is neither a mint nor an organization related to the government.
Instead, Govmint.com reviews mention that it’s simply a private company that offers precious metals to customers. Thus, if you want, you can buy coins just like you can on other sites. Govmint.com takes advantage of two different words and adds them to its names to attract more people to the site, which is one of the first red flags someone should consider when choosing an investment website.
Even so, Govmint is an American corporation with more than two decades in the business of precious metals. At the same time, it also allows customers to buy collectible and numismatic items.
The website allows you to buy many different quality coins, such as silver coins, gold ones, and more. It is not a surprise, considering that the website is available to all Americans.
A specific selection of American coins can greet you once you visit the website. Thus, collectors are often happy to find it since you can add Gold Eagles, Silver Eagles, and Morgan dollars to your list of purchases.
If you visit the website, you might also notice that it offers a number of coins from other countries. Although the selection is not very big, it’s still interesting and promising.
Overall, the offers the website includes are often in the “medium” category since the site gives you various options, but it still does not compete with APMEX and similar sites, for example.
Prices You Can Find
The biggest con the website has is related to its prices. On many occasions, people simply say they’re completely problematic, and that that it’s not a site you should trust.
A potential customer might notice something very important when they start browsing through the page, notice the prices of gold and silver, and want to check out more details: all prices are much higher than other businesses.
Things get much worse if you notice the pricing on the Govmint.com website, and then start comparing it to many more different websites that offer the same coins and bullion alternatives.
If you’re looking to invest in precious metals like silver or gold, you probably want a reliable company, but you may also want to pay less money, at least if you can manage it.
Unfortunately, that’s often not the case with Govmint since the company charges much more for its coins, regardless of whether they’re silver or gold. You can still accept it and pay the price, but keep in mind that it’s much higher than choosing a different corporation.
In 2012, there was a case related to an American Silver Eagle, and it is an accurate example of what the company does in terms of price and coins. Going on Govmint.com meant noticing that a proof Silver Eagle was $100, even though it was $65 in APMEX.
Don’t be fooled by the price difference – both alternatives are extremely pricey. Nonetheless, you can almost buy twice in APMEX for the price of one thing on Govmint.com.
Govmint.com is a business that’s not new for having backlash due to its high prices. There have been different issues because of that, which is why many coin alternatives are not among the company’s options anymore.
You can’t, for example, purchase an ordinated brilliant uncirculated Silver Eagle (it used to cost $55 on this site), a 2011 1/10 Gold Eagle (it had a price of $274), nor an Australian Kangaroo, which cost $2,345, whereas you could buy the same thing in APMEX for $1,849 only.
Shipping Methods and Ordering Process
If you are willing to accept the prices and you want details about the company, understanding everything about the ordering process and shipping methods is vital. On the one hand, the business offers different ordering options, which is convenient if you want to buy a coin from a site that gives you various alternatives.
Furthermore, all sociable buyers can call the telephone line, which is available at any time of the day. People who have questions about the website’s sales or any other complaints can also call the same number and get accurate information in return.
You can place orders by using the different buttons on the company website, and you can access the portal from your browser regardless of the device you’re in. Each service is also available if you type out the order and e-mail it to the company. Lastly, even though it sounds old-fashioned, faxes are still available if that’s your preferred method to guarantee you can get the bullion or coin you want.
Services are not so beneficial in the case of international buyers. Many complaints include the fact that you don’t get so many options unless you’re from the USA, Canada, Great Britain, Australia, Switzerland, South Africa, and Austria.
Reviews often criticize the fact that Govmint.com does not offer its service alternatives to people in France, Japan, Germany, nor the Scandinavian countries. Therefore, if you want to enter the investment world but you’re in any country that’s not the USA nor the rest of the aforementioned geo-locations, you may not be able to enjoy the bullion and coin options that this company gives people.
Another important fact when buying from Govmint.com is that the company only accepts one payment method if you want to buy bullion or a coin: credit cards. It doesn’t matter if your money is on an American Express, Visa, MasterCard, or Discover card – as it was mentioned, you can use any of them. What matters is that you have enough on your account.
Having enough money in your account is vital because Govmint.com does not charge what you buy until it’s shipped. Consequently, that might happen weeks later on some occasions, which is why people in many reviews suggest that you’re aware of your balance at all times.
Additionally, keep in mind that the prices of the services might change as well as the gold and silver pricing. It all depends on what’s happening right now, for example, if you buy bullion and you purchase it three weeks from now, you can’t expect the store to maintain the past price. On the contrary, you may have to invest much more money.
You should only try to rely on Govmint.com’s services if you know you are going to continue being financially stable. Otherwise, you risk not having enough assets for what you want to buy. Even so, the company offers unexpected and surprise discounts, which is another positive aspect many people mention when writing reviews.
Data You Might Find Important
Govmint.com is unique in terms of its geographical location. A large number of these investment services are either in the South or West Coasts, for example, in California. Nonetheless, you should note that it is not the case with Govmint – it’s in the Upper Midwest, close to Minneapolis, Minnesota.
Many review examples say that the geo-location of Govmint is very weird since most service options like those are in different parts of the country. Even so, it’s beneficial if you live nearby since you don’t have to spend time looking on eBay, reading many ratings online, or comparing thousands of different alternatives.
Instead, you simply have to be committed to waiting, especially if you purchased something already. All you need to do is to be patient and wait for your object to arrive. Coin and currency issues distributors like Govmint.com are extremely useful, but you often need to evaluate the company’s pros and cons before buying from it.
Unfortunately, Govmint.com only sells coins. Therefore, it is not the place you should rely on if you want to sell your collection.
You can find the place in Burnsville, MN, 55337, which is very helpful if you are interested in buying from this company. Even though it is a risk due to how much you’re spending, Govmint.com is still an important representative of the precious metal industry, which is why the corporation is still relevant after so long.
Govmint.com is a legitimate and helpful precious metal distributor you might see in some ads sometimes. Reviews praise the corporation’s advantages in terms of shipping alternatives, which is why they often have average ratings.
However, all the items in Govmint are extremely prices, and you can only buy something by paying via credit card. If you don’t have a card, you may not be able to get what you want, which also applies to people outside of the countries the company sells to.