Different companies guide people on how they can invest in gold. This in-depth Colorado Gold review provides a comprehensive insight into one of these and the advantages for precious metals investors.
About Colorado Gold
Founded by Don Stott, Colorado Gold, is a precious metals company with headquarters in Colorado that has been around longer than almost anyone else. Since 1977, the family-owned business has assisted several investors in managing their precious metals.
They provide a range of other precious metals products besides IRS-approved IRA metals.
Silver, gold, and platinum coins are examples of the products Colorado Gold has available. Sometimes they might provide a constrained amount of palladium and rare coins.
Colorado Gold does not partner with any precious metal custodian and depository. These gold IRA providers help speed up the setup procedure but restrict client options. However, a Colorado Gold custodian list on their website shows companies they have worked with before for such services.
Choosing a custodian is necessary, and you won’t be aware of your annual payment amount until you decide. The costs charged by different custodians vary.
Colorado Gold will buy back your precious metals if you are ready to sell. Furthermore, even if you didn’t buy precious metals through their business, they will still buy them from you. If you didn’t purchase the precious metals from Colorado Gold, there is a 1% fee for this service. You are also responsible for paying for your shipping and transportation insurance.
Colorado Gold Complaints
Colorado Gold is a reliable family-owned business with years of experience. It has an A+ rating from the Better Business Bureau (BBB) and has received no complaints in the last three years. Even though most are not accessible online, the company gets several positive client testimonials. The official BBB site has access to this data for anyone interested.
There are currently no Colorado Gold review on TrustPilot, TrustLink, or Business Consumer Alliance.
What Does Colorado Gold Offer?
Colorado Gold is an expert in selling platinum, gold, and silver. Although not all their goods are acceptable for an IRA investment, they adhere to IRS guidelines.
Contrary to competing dealers in the domain, the business does not sell numismatic collectibles. It claims that this is due to the poor financial potential of collectibles.
The company offers American Gold Buffalo, American Eagle, Gold Canadian Maple Leaf, Silver Canadian Maple leaf, Australian Kangaroo, and many common coins. These come in a range of different metals and weights. The specific ones that are available depend on the type of coin.
Colorado Gold occasionally sells palladium. This metal is rarely available on the market.
Identifying the Unique Selling Point of Colorado Gold
There are fantastic discounts on investment possibilities on the Colorado Gold website. This decision is due to the often updated inventory of the business.
It offers a buy-back program that the majority of other businesses do not. Holdings from other sources only attract a 1% service fee. The company also buys every precious metal offered with a Hallmark.
Colorado Gold service fees vary annually. The business charges are affordable, and most clients are happy with the pricing. It also charges a minimum of 1% for helping clients with their buy-back policy on items bought from another company.
Colorado Gold purchases all precious metals with the A mark at a 1% cost for transactions under $50,000. The business charges a fee of 0.75% for orders over $50,000 and a fee of 0.5% for orders over $100,000.
Customers should agree on a contract and make payment within seven days to confirm purchases.
Can I Trust Colorado Gold as a Precious Metals IRA?
Colorado Gold seems to be a reliable company. With over 40 years of customer service experience, it boasts a BBB A+ rating. The BBB website shows that there have been no complaints filed against the business in the last three years. Colorado Gold currently has no ratings or reviews from outside sources. This makes it challenging to spot any warning signs.
It recommends four distinct IRA custodians that help set up a precious metals IRA and make precious metal investments. This is possible even though they are not IRA custodian companies themselves.
Colorado Gold Pros & Cons
- Over 40 years have passed since Colorado Gold first opened for business.
- Colorado Gold offers platinum bullion coins and bars in addition to investing in gold and silver. They offer other precious metals too.
- The Better Business Bureau has given Colorado Gold an A+ rating.
- There are only a few Colorado Gold reviews online.
- There is a lack of an after-hours helpline to support clients purchasing precious metals.
- The business lacks investment opportunities for rare coins.
- Colorado Gold is not an IRA custodian.
- The company has a wide range of varieties of precious metals.
Buying and Selling Precious Metals with Colorado Gold
- Buying from Colorado Gold
The business has made it easy for investors to buy precious metals. Compared to other precious metals IRAs, it is simpler to purchase through the Colorado Gold website. They might appeal to some people due to their hassle-free process.
You must submit your client agreement as the first step. Complete this form before you can make any purchases. It presents the legal force and effect of your account. You should consider working with a different company if you don’t want to be tied down by a legally binding contract.
Below are the conditions stated within the document:
- The agreement is enforceable if your order has a trade number.
- Regardless of delivery delays, traders must pay for all orders within seven days of signing a contract.
- Individuals selling goods must dispatch items within two days of receiving an order number.
- Your initial transaction and subsequent ones are subject to the details of this contract.
- You can face fines and collections if you don’t follow the terms of the agreement.
It’s all quite simple. After getting your order number, you have one week to pay the total amount. The company can sue you for their losses if you don’t pay.
There is a list of prices on the website. These represent the current Colorado Gold prices for these goods. It’s wonderful to have this additional degree of openness because some businesses don’t post their rates. It simplifies the process of comparing costs.
People could find it inconvenient as there isn’t an online ordering cart like in other stores. To place the order, call a number instead for guidelines. Every phone call is recorded to ensure that the representative receives reliable information about your order. You will receive a trade number that you will use for your transaction. Note that it is compulsory to pay the entire cost of the transaction. An order gets dispatched via UPS with full insurance after payment. You must sign for the cargo on arrival to verify you have received it.
You can make purchases with a variety of methods. An example is an option to send money via Venmo if you’re buying a few pennies. There are also more conventional forms of payment, such as:
- Cashier’s check
- Personal check
- Bank wire transfer
Colorado Gold does not accept credit or debit cards. Additionally, you are required to transfer your cash before your order is finalized. This is likely to happen if you have a history of payment defaults or if it is a large order.
It takes seven business days for a check to clear if you pay with any type of check or money order. The company’s bank must confirm that there hasn’t been any fraud. This is why wire transfer takes longer to complete.
Contact Colorado Gold if you have any inquiries. It is against business policy to call clients unless it is essential.
On the internet, there are occasionally things with great discounts. These become accessible when the provider of the business extends a special discount on particular coins or bullion. Keep an eye out for these unique discounts.
The organization will also buy metals that you didn’t buy through their marketplace together with those you return to them. When you sell precious metals from another marketplace, there is a one percent cost in addition to the 25-dollar repurchase fee. There is a 50-dollar cost for wire transfers.
You must fill out the Customer Agreement just as when you purchase something. Here are the specifications for when and how to ship your goods. Insurance, shipping, and transportation are all your responsibility.
All platinum, palladium, silver, and gold with recognized hallmarks are available for sale. The moment you receive your transaction number, the order price is locked. Colorado Gold is not obligated to pay you extra if the metal’s value rises.
After the purchase agreement, you have two days to ship your metals. If you don’t submit the metals to the proper depository during this time, legal action may be pursued to recover them.
If you are a new client, the business can require you to present the precious metals to them before concluding the transaction. This enables them to check that they are of the specified quality and conduct an inspection. Upon inspection of the metals, a final price will be decided.
Your pricing estimate could be lower if your metals are shipped in subpar condition. Damaged metals have the same properties. The corporation does not choose this. Instead, their supplier decides because they will ultimately have the metals.
The business advises customers to ship their precious metals using the USPS Registered Mail service. Postal Form 3806 is required for each box. At your local post office, you can pick it up. Additionally, it is advised that you double-package your metals to prevent tampering or damage to the packaging.
Frequently Asked Questions – FAQs
Where Can I Find a Colorado Gold Review?
It is difficult finding a trustworthy Colorado Gold review on platforms such as Business Consumer Alliance, Trust Pilot, etc. The closest form of review is the rating from an institution such as BBB.
Is Colorado Gold an IRA Custodian?
In terms of gold storage, Colorado Gold is not an IRA custodian company and doesn’t explicitly endorse any. However, it lists those it has partnered with in the past on its website. These include Entrust group, Strata, etc.
Concluding Remarks on Colorado Gold
When the time comes to purchase precious metals, Colorado Gold is a good choice. Investors should think about the costs they incur when determining a final price for the purchase or sale of real gold, then contrast that price with those of other gold companies.
Offering a discount on the coins or bars could seem like a nice idea and would be below market value, but keeping in mind the possibility of accumulating fees could negate the potential reduction.
Make informed decisions as an investor by carrying out your due research. Every portfolio should consider investing in precious metals as it is a long-term strategy. Gold is a good alternative if you want to protect yourself against inflation. Because silver is more affordable than gold, many people choose to buy silver instead of gold as a physical asset. Different investors have different needs, so having choices and a range of businesses to engage with is beneficial. It enables an investor to feel secure in their transactions on the market.
This Colorado Gold review should help you with the necessary information to help you make the best decision.