Goldline had a considerable presence in the precious metals business prior to the internet era. Their later years were marked by a significant decline, which was tainted by some scandal. Here we look at what we discovered in terms of history, pros, and negatives, and so on.
Goldline can be traced back to a 1960 subsidiary of Deak & Co., which was the leading storefront gold dealer in the late 1970s before closing in the 1980s. The company was bought and sold several times over the years that followed. A-Mark Precious Metals, Inc. purchased the company’s assets in August 2017.
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Company Background and Information
For almost sixty years, Goldline has been operating as a precious metals merchant. It also offers a straightforward solution for establishing Precious Metals IRAs.
The company provides coins and bars that are IRA-eligible, as well as rare and precious coins. Goldline is the sole seller of a one-ounce bar of palladium. Regrettably, the business is reluctant to reveal much information. The website contains no information on product pricing.
Goldline is a firm situated in Los Angeles, California that began operations in the year 1960. For almost sixty years, this company has been supplying traders with silver, platinum, and gold, including palladium. This business has a good collection of generally available IRA-eligible coins and bars for retirement savings, as well as some rare and collectible coins for collectors and investors.
Goldline offers a service called Express IRA, which walks customers through a three-step process to open a Precious Metals IRA. Similarly, the company offers free bullion coins on qualifying purchases to help cover IRA account maintenance expenses.” It also offers complimentary shipping to the storage facility to patrons.
Individuals interested in selling coins or bars can do so through the company’s repurchase plan. The program comprises three simple stages, and money is usually paid within three working days of Goldline receiving and validating the precious metals.
The company insists on not purchasing jewelry or other precious metals that aren’t in the form of a coin or bar.
Management Group
Experts combed through the internet but couldn’t find any indication of Goldline’s management team. There is no information on their website or any other platform that can provide information and clarifications about Goldline’s executives or founders.
This is a little unsettling because you won’t know who you’re working with.
Goldline Products Available
Goldline stocks a wide range of precious metals. Several of their coins date from the second half of the nineteenth century. Furthermore, chances are they have a stash of items you’ll never find anywhere else.
Their gold bars are typically one or ten ounces or one kilogram in weight.
The designs on the coins that qualified for IRAS are fantastic. Given that they are the only traders of specific coins, they have a remarkable number of gold numismatic coins from Austria.
Goldline Custodian and Storage
Goldline is a direct marketer of numismatic coins, bullion, and rare money to collectors and investors. In addition to offering internal shipping and satisfaction, coin pricing and valuation services, lead creation, account management, as well as storage, Goldline is a highly integrated precious metal goods industry that also sells its items over an array of media channels.
Goldline has formed a joint venture with GoldStar Trust Company and Equity Trust Company. These two IRA custodians are well-known.
Surprisingly, the firm does not disclose which storage vault provider it has used for safeguarded storage. According to the website, clients can choose from facilities in Las Vegas, Nevada, Zurich, Switzerland, and Singapore.
Why Would You Put Gold in an IRA?
Individual Retirement Accounts (IRAs) safeguard both your retirement and the financial stability of your family.
You can save money in these particular accounts that are tax-sheltered for future usage.
Cash in an IRA is possible, but it is depreciating quickly and inflation is out of control.
There is no better asset for this than gold because it is dependable, holds its value over time, and even grows in value.
Uncertainty is at an all-time high as the global economy struggles as a result of lockdowns, shortages, conflicts, and inflation, and investors are defending themselves by putting physical gold in IRAs.
These economic crises, which have a negative impact on the majority of other assets, benefit investments in gold.
Risk is not taking action to safeguard yourself and your family against economic threats despite being aware of them.
Educational Resources
An array of useful knowledge can be accessed on the Goldline website. The primary goal is to offer proof of why precious metal investments are beneficial.
They also go into great length about issues like the history of inflation and the decline of the dollar.
This is a wonderful place to start if you’re unfamiliar with precious metals.
Also, even if you’re not new to investing, we encourage you to read through it because it can educate you on certain things that you may have rushed through fast and didn’t fully appreciate.
When compared to other precious metals traders, they perform a decent job of delivering broad instruction. There are a few organizations that have reached this level, but Goldline is the pioneer.
Fees and Charges
Given that Goldline offers more, it makes sense that they would price more. They provide a “Price Guarantee Program” for temporary modifications and a “Client Concierge” that responds to clients’ questions.
You’ll have to pay commissions, charges, as well as spread charges. They additionally provide you with delivery and storage options. Make sure you have these numbers crunched before placing an order.
Make sure you are precise with your choices when it comes to making purchases because gold is a costly product.
Legal Issues and Complaints Regarding Goldline
Although they have a lot of useful material to share and a well-designed website, in our opinion, what really important is how customers are treated and the customer experience you get when working with them.
Sadly, Goldline’s customer opinions aren’t all that favorable. They received a 1.54 out of 5-star rating from BBB. Likewise, as of the time of writing, Google gave them a 1.7 out of 5 rating.
Given that comparable gold-level organizations have thousands of 5-star reviews, this is not good. I can’t see taking my company to a place with such bad evaluations, keeping in mind that the customer is always right.
No company is perfect, and there will always be unhappy customers, but the sheer volume of these unfavorable reviews simply cannot be disregarded.
Even though it occurred more than 8 years ago, being the subject of lawsuits is never a good omen. And who’s claiming that the parties to the lawsuit aren’t still employed by the business today?
Actual Client Reviews
“Goldline cleared my cashier’s check on 8-14-2020, but despite promising to send me an email with the tracking information for the transaction I made on 8-24-2020, they have yet to do so.
I wish I had read these customer reviews sooner because I never would have done business with them in the first place. The last person I spoke with indicated my purchase would be mailed this week or next.
John H. from BBB
Pros and Cons
This Goldline review is not complete without understanding the advantages and disadvantages of this company:
Pros
Established Reputation
Goldline has been in the precious metals industry for many years, and it has established a recognizable brand in the market.
Many Product Offers
Providing an extensive inventory of precious metals goods, including rare coins, silver bullion coins, gold IRA, and bars, Goldline may provide investors with alternatives for hedging their portfolios.
Expert Advice
This company frequently offers clients the use of instructional materials and trained representatives who can assist them in making smart financial selections.
Storage Solutions
Goldline often offers storage solutions for precious metals, which can be appealing to investors who prefer not to handle physical metals themselves.
Cons
Premiums and Fees
Some customers have reported that Goldline charges relatively high premiums and fees on their products compared to other precious metals dealers.
Sales Tactics
In the past, Goldline faced criticism for its aggressive sales tactics and marketing strategies. Some customers felt pressured into making purchases they were not entirely comfortable with. Make sure to read and understand all terms and conditions before committing to a purchase.
Limited Transparency
Some investors have expressed concerns about the transparency of Goldline’s pricing and fees, suggesting that it can be challenging to determine the true cost of their products.
Market Fluctuations
Precious metals prices can be volatile, and investing in them carries inherent risks. Goldline may not always adequately communicate these risks to customers.
Regulatory Issues
In the past, Goldline has faced legal challenges and regulatory actions related to its sales practices. Determine that the organization has fixed any prior issues and adheres to every law that applies.
Should I Invest in Goldline?
For individuals considering investment options, it is strongly recommended to exercise caution when contemplating an investment with this particular company. The presence of legal complications in conjunction with consistently negative customer feedback should give potential investors pause and prompt them to explore alternative avenues.
It is essential to emphasize that numerous other companies operating in the same industry offer comparable products at considerably lower costs and boast more favorable reviews. It is advisable to thoroughly research and evaluate these alternative options before making any commitment to an investment.
Frequently Asked Questions about Goldline
Q1: What is Goldline International, Inc.?
A1: Goldline International, Inc. is a precious metals dealer based in Santa Monica, California. They concentrate on buying and selling coins and bars made of different precious metals, such as gold, silver, platinum, as well as palladium.
Q2: How can I purchase precious metals from Goldline?
A2: To purchase precious metals from Goldline, you can visit their website or contact their sales representatives directly.
Q3: What types of precious metals products does Goldline offer?
A3: Goldline typically offers a variety of precious metal products, including gold coins, silver coins, gold bars, and silver bars. The specific products available may vary over time.
Q4: Can I invest in precious metals with an Individual Retirement Account (IRA) through Goldline?
A4: Yes, Goldline often facilitates the purchase of precious metals for IRAs. You can set up a Precious Metals IRA with them, allowing you to invest in physical precious metals within your retirement account.
Q5: What are the storage options for precious metals purchased from Goldline?
A5: Goldline typically offers storage solutions for precious metals. You can choose to have your purchased metals stored in secure storage facilities. This option can be convenient for those who prefer not to store the metals themselves.
Q6: Are there fees associated with purchasing precious metals from Goldline?
A6: Yes, there are typically fees associated with purchasing precious metals, including premiums over the spot price of the metal, shipping costs, and potentially storage fees if you opt for storage services. It’s important to review the pricing and fees with Goldline before making a purchase.
Q7: Is Goldline reputable and trustworthy?
A7: Goldline has been in the precious metals industry for many years and has an established reputation.
Q8: How do I sell precious metals purchased from Goldline?
A8: You can typically sell your precious metals back to Goldline. They may have a buyback program in place. Contact their customer service or sales team for information on how to initiate a sale.
Q9: Is investing in precious metals with Goldline a safe investment?
A9: Investing in precious metals can be a part of a diversified investment strategy. However, like all investments, it carries inherent risks. Precious metals prices can be volatile. It’s important to understand these risks and consult with a financial advisor to determine if they align with your overall investment goals.
Q10: Where can I find customer reviews and ratings for Goldline International?
A10: You can find customer reviews and ratings for Goldline International on various online review platforms and the Better Business Bureau (BBB) website. It’s a good practice to read reviews and consider the experiences of other customers before making a decision.
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About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He started this website 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.