When it comes to investing it can be overwhelming to find a company that can help you with all of your precious metals needs. Especially when you see just how many brokers are out there. You certainly don’t want to be scammed out of your hard-earned money and let’s face it, for every excellent gold broker out there, there are probably five who are less than ideal.
I’ve had questions about a company called Colorado Gold, so that’s what I plan on reviewing today. Colorado Gold has over 40 years of experience in the precious metals world, and while that is a good run, are they a company that you should use for your investing needs?
Before you decide to give Colorado Gold a try, consider this review.
Who is Colorado Gold?
Colorado Gold was founded in 1977 by Don Stott as a family-owned business. While Don has since retired from the industry in 2015, his three kids (Melissa, Morgan, and David) have kept the business going within the family and they are doing a good job as Colorado Gold continues to hold onto an A+ rating with the Better Business Bureau (BBB).
Colorado Gold has a unique philosophy. They don’t offer up rare coins to investors. To them, rare coins are more of a collectible and less of an investment opportunity.
Instead, Colorado Gold, whose goal is to help its customers make sound financial decisions, focuses on offering gold, silver, platinum, and palladium bullion bars and coins because they are the best ways to diversify your investment portfolio.
What Can I Purchase from Colorado Gold?
The inventory at Colorado Gold is always going to vary, so it is best to contact them when you’re ready to make a precious metals purchase. However, if you’re interested in what types of products you may be able to find with Colorado Gold, you will be pleased to find the following:
- American Eagle Gold Coin
- Austrian Philharmonic Gold Coin
- Canadian Maple Leaf Gold Coin
- American Buffalo Gold Coin
- British Sovereign Gold Coin
- 1 gram Gold Valcambi Bar
- 100 gram Gold Valcambi CombiBar
- 1 oz Gold Asahi Bar
- 1 oz Gold Credit Suisse Bar
- American Eagle Silver Coin
- Austrian Philharmonic Silver Coin
- Australian Kangaroo Silver Coin
- Canadian Maple Leaf Silver Coin
- South African Krugerrand Silver Coin
- 100 gram Silver Valcambi CombiBar
- 250 gram Silver St Helena Bar
- 10 oz Silver JBR Bar
- Kilo Silver JBR Bar
- American Eagle Platinum Coin
- Austrian Philharmonic Platinum Coin
- British Britannia Platinum Coin
- 1 oz Credit Suisse Platinum Bar
- 10 oz Credit Suisse Platinum Bar
Don’t forget to check out their “Our Specials” page on the website. This is where Colorado Gold will list any deals they’re having and you’ll often find coins and bars at great prices based on their current inventory. It changes constantly, so keep your eyes peeled!
How Do I Make a Purchase with Colorado Gold?
Truthfully, investing with Colorado Gold couldn’t be easier.
When you’re ready to invest, you’ll fill out a client agreement and submit it to the company. You’ll fill in things such as your name, address, and email address, as well as agree to their terms and conditions. Their terms are straight-forward and include:
- You understand that this agreement is a legally binding contract once you have made a purchase.
- Payment must be received within seven (7) days.
- If you’re selling to Colorado Gold, you agree to ship your metals so they are received within two (2) business days once you are issued a trade number.
Payment is submitted in the form of a wire transfer, cashier’s check, or personal check. All checks will take seven (7) days to clear to avoid fraud. In the event that you’re doing a smaller order, Venmo may also be accepted. You’ll need to check with Colorado Gold first, however.
Once payment has cleared, Colorado Gold will prepare your shipment. Typically they use UPS, but you can request USPS if you prefer. All shipments are sent insured so you won’t have to worry about loss or theft.
Just a quick note: Colorado Gold purchases its metals through A-Mark Precious Metals and they charge a 1% commission fee for any orders under $50,000. For orders over $50,000 they charge a 0.75% commission fee, and orders over $100,000 will be charged a 0.5% fee. When you sell precious metals to Colorado Gold, you will be charged a 1% fee if you did not purchase the metals from Colorado Gold initially.
All current pricing information is found on the Colorado Gold website.
Precious Metals IRA’s
Anyone with an IRA should consider diversifying their portfolio with precious metals. This is just good investment advice and if you’re looking to do so, Colorado Gold will be able to help you with that as well.
If you want to set up an IRA account, you’ll need to contact a custodian company first, to get an account established. Once that is done and you have the funds available, Colorado Gold will help you to purchase the precious metals you would like for your IRA account. They will then take care of shipping your purchases to the IRA-approved depository you have chosen.
Are There Any Issues with Colorado Gold?
In general, Colorado Gold doesn’t have many red flags that would dissuade me from using them. They do have a bit of a lack of online reviews from customers, but again, they have an A+ rating with the BBB and they’ve been in business for decades. If they were a scam, they wouldn’t be around this long or have such a good rating from the BBB.
If you’re looking for a company that is a gold custodian, well, then Colorado Gold won’t be for you. They can recommend custodians for you, but they are not one themselves, which means you will likely have fees from both separate companies.
Finally, Colorado Gold is specialized in what they offer, so if you’re looking for collectibles, you’re not going to find it. Their inventory is limited and this could be a turn-off for some consumers, in which case you will likely want to find another precious metals broker.
The Verdict on Colorado Gold
So, choosing a company for your precious metals investments is going to be a very personal decision and will ultimately depend on your circumstances. However, if you want a reliable company that prides itself on selling investment-level products and has been around for years, then you will likely enjoy Colorado Gold.
If you want a company that is both a gold seller and a custodian or has many online reviews, you will likely want to look elsewhere.
They are only in the “buying and selling” business and while BBB-accredited, they just don’t have the online reviews that many other companies have. You will also want to consider another company if you’re looking to buy collectibles and not just IRA-worthy precious metals.
In the end, you will need to decide what works best for you and then you can decide if Colorado Gold is the right company for you.