Do you need help starting Gold IRA accounts or making investments in gold and other precious metals? If so, you should look for a reliable business. Several companies specialize in investing in precious metals, however, GoldBroker shines above all.
Since there are hundreds of precious metals businesses out there, it is vital to learn more about each one before deciding if they are trustworthy or match your demands.
Who is GoldBroker.com? Are they reliable and trustworthy? What products and services does this company provide to investors? Learn more about a precious metals investment firm by reading on.
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Goldbroker Overview
A French investor and businessman named Fabrice Drouin Ristori launched GoldBroker in 2011.
After seven years of making investments in the digital space, Fabrice sold two businesses he started with others in 2010, and he was left with a big conundrum: How should he best invest the money he had made in an uncertain market and financial environment?
His primary objective at the time was to keep up his business endeavors without having to devote any time to overseeing his numerous holdings.
He was seeking an investment that had a track record of safety amid ongoing market turbulence, like many other serial savers.
After extensive research, he concluded that investing in gold was among the safest ways to protect his assets because the metal’s value has a history of withstanding fluctuations in the financial markets.
He continued to examine the issue until he finally came up with a brilliant solution. First, he decided against tying his assets to paper gold and instead went with genuine gold bullion.
Additionally, he wouldn’t keep his gold in a bank; instead, he would select an outside vault in a nation with a stable government.
He would count on a security company that knew who he was and gave him immediate entry to his vault and would be willing to sign a contract guaranteeing that he was the only owner of the physical gold and silver they handled and that no one else had access to his assets to help with the secure keeping of his assets.
He anticipated that many people would eventually start looking to gold bullion as the greatest option to secure their hard-earned funds in the long run due to serious money and financial troubles based on his experience and studies.
To protect his assets and provide other savers looking to invest their money in physical gold with a top-notch option, Fabrice decided to launch his own business, www.goldbroker.com, in the face of unstable financial markets and the absence of an appropriate vehicle through which he could do so.
GoldBroker Products and Services
Goldbroker provides more bullion options than some of its competitors that operate offshore gold storage companies, but not as many as some other companies. Offering platinum and palladium investment options in addition to the more popular gold and silver options is something they take pride in.
They provide silver bullion bars created by Valcambi that are one ounce in size, 100 grams in weight, one kilogram in size, one ounce in platinum, and one ounce in palladium. They also include one-ounce gold and one hundred-ounce silver bars from the Royal Canadian Mint, as well as one-ounce gold and one thousand-ounce silver bars from the Republic Metals Corporation.
They offer a good selection of potential possibilities for bullion coins from the principal worldwide mints that strike precious metals. The Gold American Eagle, Gold Buffalo, Gold Canadian Maple Leaf, Platinum Canadian Maple Leaf, Silver American Eagle, and Silver Canadian Maple Leaf (in monster boxes of 500) are all from North America.
The Gold and Silver Philharmonics from the Austrian Mint and the British Gold and Silver Britannia (in rolls of 10 coins) are among their European offerings. The South African Gold Krugerrand and Anniversary Krugerrands (both in rolls of 10 coins) and the Gold and Silver Kangaroos of the Perth Mint are supplied by Africa and Australia, respectively.
GoldBroker’s Precious Metals Fees
The simple fact that GoldBroker withholds the commission fees it levies for its range of bullion products sets it apart from its rivals. They contend that these fees change depending on the goods and become regressive as the order’s size and quantity rise. It is difficult to say what percentages they are asking on average to purchase such things because their minimum order amount is $10,000.
You can be certain of their fees for returning bullion products that you have bought directly from them. They guarantee to buy back all precious metals that are still safely stored in their facilities. On all buyback sales, they impose a 1% commission with a $75 minimum commission total.
The price of offshore storage for precious metals is dependent on a sliding scale and the value of the metals that are being vaulted on your behalf. They charge a 1.5 percent fee for gold that is stored that is worth less than $20,000. More than 50 ounces, this decreases to 1.25 percent annually. More than 900 ounces, it falls even further, to 1.05 percent annually. Over 4,500 ounces of gold are subject to an annual.95 percent assessment.
The amount of silver stored with them determines the sliding scale used for silver fees. 60,000 ounces and underpay 1.5 percent annually. Over 60,000 ounces yield a 1.3 percent yearly yield. This decreases to 1.2 percent annually with silver reserves of 300,000 ounces and greater.
In addition, the company charges three other costs related to vault visits in place of delivery fees for precious metals. The vault is $200 to enter. Metals must be personally picked up for a $200 fee. Owners can take images of metals for $10 per piece.
Storage Options Offered
In the international storage of bullion and coins, the business employs an innovative storage strategy.
Investors who use GoldBroker can act as the custodian for the precious metals they directly possess. The business has never agreed to hold any investor’s precious metals in trust.
The risk associated with an investor’s precious metals being accessible to an excessive number of people is removed by GoldBroker. This is due to investors directly holding precious metals and typically opening storage accounts in their names.
An investor can directly visit their vault to either verify the condition of their reserves or make a withdrawal because they are the sole proprietors of the precious metals they have purchased.
GoldBroker collaborates with Maca-Amit, a reputable storage associate for individuals with substantial assets and financial institutions worldwide, to offer reliable precious metals storage solutions.
Malca-Amit functions on its own. Typically, Malca-Amit is in charge of providing investors with ownership certificates that prominently display the owner’s name and the serial numbers of the gold bullion they purchase.
When ownership certificates are given, it is typically very evident who is the owner of the precious metals, such as silver, gold, palladium, and/or platinum, that are kept in storage.
GoldBroker provides an assortment of choices for offshore storage sites, including:
- Switzerland’s Zurich
- New York, New York, USA
- Singapore
- Ontario, Canada
The vast bulk of New York’s precious metals storage vaults serve America Gold IRA account holders, whose bullion reserves are required by the IRS’s tight retirement plan restrictions to be maintained in U.S. territory. By the way, the storage account maintenance fee is $125 a year, however, the price depends on the amount and value of the precious metals.
Why Consider Goldbroker Storage Solutions?
Secure Storage is available outside the traditional banking system. This typically avoids the possibility of an investment experiencing counterparty default (bankruptcy), bank asset seizure, or government asset seizure.
Additionally, if banks are briefly closed, an investor can easily access their precious metals assets thanks to this storage arrangement.
Own and Store Precious Metals Under Your Name
An investor who purchases gold through GoldBroker is typically given an ownership certificate by Malca-Amit, an independent Swiss company that certifies that the gold is present in their vaults.
A precious metals storage business is only permitted by Swiss law to provide this certificate if the precious metals listed on it are present in their vaults.
Your Precious Metals are Available to you Immediately.
After giving 48 hours’ notice of their intention to visit the vault site, all GoldBroker clients who invest in precious metals have access to their vaults to conduct inspections or remove reserves.
Malca-Amit employees are renowned for providing secure, discrete access in a welcoming setting.
Your Stolen Precious Metals Are Covered by Insurance
The precious metals that customers purchase from GoldBroker will be kept in a safe vault run by the company’s insured storage partner, Malca-Amit.
How to Use GoldBroker to Invest in Precious Metals
Create an account with GoldBroker by completing the registration form and submitting the required documentation to prove your identity.
Select the precious metals you want to purchase, choose the service you want (buying or selling), and then input your credit card information to complete your order.
Transfer funds – Transfer funds to pay for the desired transaction.
How to Use GoldBroker to Sell Coins and Bullion
If you wish to sell your stockpiles of precious metals quickly, use GoldBroker’s precious metal sales service rather than handle the sale yourself.
Traders will make contact with potential buyers and oversee the sale process on your behalf if you trust the company to handle the sale of your precious metal reserves.
Keep in mind that GoldBroker is not designed to be a platform for trading actual bullion.
The organization typically advises investors to hold their precious metals reserves in the long term outside of conventional banking systems to ensure that their wealth is secured.
GoldBroker’s Quality Control Measures
Only investment-grade bullion is traded by the company.
The company sources the coins and bars it sells from refiners that have received certification from the London Bullion Market Association. This often ensures that the things you are purchasing have met strict quality and assaying criteria.
Once the bars and coins are obtained from refiners, they are expertly preserved and sold along with an authentic certificate. You can easily monitor the origin of the precious metals you purchase with the help of this certificate.
On the GoldBroker website, you can read testimonials from well-known industry names including the U.S. Mint, Valcambi, RMC, Perth Mint, Asahi, and the Royal Canadian Mint.
It’s also crucial to note that GoldBroker would purchase precious metals back from their customers as long as they are kept in safe storage. GoldBroker does not purchase back precious metals that have been taken out of their safe storage facilities to ensure the traceability of the precious metals they buy back.
Is Gold a Liquid Investment?
The world gold market is the third largest, behind the American and Japanese bond markets, according to data gathered from the World Gold Council.
The gold market is deep and liquid enough to protect institutional holdings like those of central banks and retirement benefit plans.
To put it simply, gold is a highly liquid investment choice that can be swiftly and readily exchanged over the counter globally.
GoldBroker can guarantee that your purchase and sale orders will be carried out as long as the precious metals are kept in their partner (Malca-Alma’s) independent vaults because of their broad contacts with several industry partners.
GoldBroker will normally deduct their 1% commission from the sale proceeds once they have carried out a sale order on your behalf.
Are There Any Red Flags for Gold Broker?
Investing heavily in gold and silver is expensive. You’re likely reading this post because you want to do your research and ensure that you pick to work with a reliable company. Finding out about the experiences other people had while working with the organization is one approach to learning about it and how it operates.
Is Goldbroker Legit?
Yes! Gold Broker is legit and not a fraud. They are an authorized business that offers for sale gold and silver bullion. If you opt to engage with Gold Broker, you should get what is promised, according to the overwhelmingly positive user reviews.
Do you wish to cooperate with Gold Broker in light of the above? In our opinion, no. Although the company has received largely positive ratings, neither the Business Consumer Alliance nor the Better Business Bureau have rated it. Even though it’s not required, this can give you yet another nugget of knowledge about a business and its operations.
The Gold Broker website is transparent about some of the fees you’ll be charged when making a transaction as some other precious metals dealers’ websites are. On the other hand, as the sole owner of the metals, the investor has direct and personal access to the vaults for inspecting or withdrawing their bars or coins.
Contrary to the flat-rate storage pricing offered by many precious metals merchants, Gold Broker’s costs are determined on a sliding scale. If you aren’t storing much, this might be to your advantage, but if you want to store a lot of precious metals, you’ll probably wind up spending more than you would with other organizations.
How Are Precious Metals Delivered to Customers by GoldBroker?
FedEx, UPS, and USPS are the three main carriers in the U.S. used by GoldBroker to distribute physical precious metals. These carriers are all global corporations with international operations.
GoldBroker can ensure that your precious metals will reach your desired location safely and on time with the help of these carriers.
The corporation typically transports any gold or silver orders that are greater than $250,000 via an armored car service. Contact GoldBroker directly to find out more about the precious metals shipment process.
The majority of the time, GoldBroker provides clients with free shipping services for any domestic shipment requests within the United States.
What Takes Place If a Package Is Damaged or Lost in Transit?
All shipments from GoldBroker are often insured, so you are protected in case of any unforeseen circumstances. The company will send out identical cargo as soon as it is practically possible if a package disappears while in transit.
Be aware that only packages in transit are covered by GoldBroker’s insurance.
Pros
- You will receive your precious metals swiftly and easily.
- No company representatives are required to check on metals kept in the vaults run by their storage partner.
- The business has worked with Malca-Amit, a very dependable storage organization. They offer vault storage options in a variety of locations throughout the world, including Zurich in Switzerland, Singapore Freeport, New York, USA, and Toronto, Canada.
- In the US, delivery of all orders for silver and gold is free.
- To protect your investment, bars, and coins are insured during delivery.
- The business offers a variety of secure storage options for consumers to choose from.
- There are four nations where you can keep your precious metals.
- This is one of the best reliable online platforms that sell gold coins, silver coins, gold bars, Royal Canadian Mint, and many others.
Cons
- Despite all the benefits, there are some drawbacks, such as:
- No intermediary stands between you and your priceless metals.
- Physical delivery of the gold and silver is straightforward.
- Without a corporate person present, owners or representatives are free to access the vault whenever they like.
- Bullion is kept outside of the central banking system in vaults.
London Bullion Market Association Certification
Compared to other precious metals investing companies, there aren’t any internet reviews available.
The business does not provide a lot of details regarding how they impose commissions and premiums.
The cost of the storage solutions provided by the company is determined on a sliding scale rather than a set payment. This means that when you invest more money, storage prices typically rise.
Briefly Summing Up
You can determine if GoldBroke.com is the right option for you and your investing needs now that you know more about the company. The exceptional features of GoldBroker include free delivery of your gold and silver bullion orders, insurance, alternatives for safe and secure storerooms, a repurchase program, and four distinct sites for storage. You can purchase gold at the online platform with peace. For first-time gold investors, there are guides available. There is a minimum investment of $5000.
However, given the minimal customer feedback and the constrained selection of precious metals offered, there are some issues with suggesting this firm sell or buy precious metals. In general, you have the choice. You may determine if these precious metals dealers are worthwhile by reading our review. Owners of precious metals ought to keep in mind to make cautious and well-informed investment decisions.
Other Precious Metals Dealers:
About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He started IRA Investing to share his expertise in using his Self-Directed IRA for alternative investments. His views on retirement investing have been highlighted in USA Today, Business Insider, Tech Times, and more. He invested with Goldco.
