GoldSilver Reviews

Gold and other precious metal IRAs are an investment and carry risk. Consumers should be alert to claims that customers can make a lot of money in these or any investment with little risk. As with any investment, you can lose money, and past performance isn’t a guarantee of future results. Consumers should obtain a clear understanding of all fees before committing to an investment.

GoldSilver is an online gold and silver retailer that has been in business for over 20 years. Customers can buy and sell precious metals in various forms. Purchases can be shipped or stored in secure, fully-insured facilities. GoldSilver also offers precious metals IRAs.

Getting started with GoldSilver is easy. There are essentially five steps:

1. Decide whether you want to store your metals yourself or let GoldSilver store them securely.
2. Choose what type of account you want — an IRA, a storage account, or a delivery-only account.
3. Pick the metals you want. GoldSilver (perhaps unsurprisingly) focuses on gold and silver, in either coin or bar form.
4. Decide how you want to pay — you can pay directly via ACH or credit card, add a balance to your account with bank wire, check, or ACH, or you can use an IRA rollover.
5. Monitor your investments. The company allows you to manage your new assets 24/7.

GoldSilver offers gold and silver in both bar and coin form.

• Gold and silver bars: Silver bars range from 1 ounce to 1 kilogram, and gold bars are available up to 10 ounces.
• Gold and silver coins: A variety of coins are available, including American and international coins as well as silver rounds.
• InstaVault: GoldSilver’s InstaVault program lets customers invest in fractional ownership of large bullion bars — as little as 1/100th of an ounce for gold or 1 ounce for silver — with instant allocation in the company’s vault system. Investors can later convert their holdings into whole coins or bars for delivery.

GoldSilver also offers several types of precious metals IRAs, including:

• Traditional
• Roth
• Simplified Employee Pension (SEP)
• Savings Incentive Match Plan for Employees (SIMPLE)
• Rollover

You can roll an existing IRA into these or start fresh.

GoldSilver offers secure vault storage for gold and silver. This storage is optional; you can choose to have your metals shipped to you and store them elsewhere if you prefer. Customers can choose standard allocated storage or upgrade to reserved storage, where metals are physically segregated for an added fee.

GoldSilver partners with third-party custodians, including Brinks and International Depository Services, for vault storage. Facilities are monitored 24/7, protected by armed guards and regularly audited to ensure the metals are accounted for.

For purchasing precious metals, GoldSilver charges current spot prices for both gold and silver. The company does state that it charges a slight premium over spot price. This isn’t abnormal — it’s often how these companies make money.

For vault storage, there’s a monthly fee of 0.06% of the stored asset value with a $4 minimum. So, for example, if you stored $10,000 worth of metals in a GoldSilver vault, you’d pay $6 per month.

Yes, GoldSilver is a legitimate gold and silver dealer. The company has been in business for over 20 years. It fully insures all stored assets and partners with Brinks and International Depository Services for secure, audited vault storage. GoldSilver is also a U.S.-based business with customer support available by phone, email and live chat.