This company is a precious metals focused investment organization that has been around in this industry for more than 40 years. If you are currently thinking about buying silver or gold for retirement, this company can help you begin your retirement investment journey with a precious metals IRA.
We’ll look at questions including:
- Is Colorado Gold the ideal company to help you create a diversified portfolio?
- Does this company provide a wide array of precious metals to add to your portfolio?
- Is there gold IRA setup process easy to accomplish?
We’ll explore the answers to these questions and more as we continue reviewing this company below.
The Truth About Colorado Gold
Don Stott founded Colorado Gold in 1977 and it remains a family-owned business to this day, even though the founder retired from the business in 2015. His children David, Morgan, and Melissa are still running the business and they are committed to meeting the same company standards that their father met for so many years. This dedication and stick-to-itiveness is the reason why this company has remained so successful and it’s also why the Better Business Bureau has given them an A+ rating.
Since the children took over the business and they all live in different areas of the United States, they can provide their customers with office hours that extend past the traditional hours that other gold IRA companies tend to provide.
One important thing about Colorado Gold is they do not provide their customers with the opportunity to purchase rare coins. They do not believe in the value of collectibles and do not consider them the top investment choice. They want their customers to make smart financial decisions, so they only sell precious metals including gold, platinum, palladium, and silver coins and bars that based their value on the precious metals content and not the rarity of the coin.
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Types of Precious Metals
Keep reading to discover various types of bullion coins and bars that you’ll have the opportunity to buy from Colorado Gold.
- Gold American Eagle coin
- Gold British Sovereign coin
- Gold Canadian Maple Leaf coin
- Gold Austrian Philharmonic coin
- Gold American Buffalo coins
- Gold 1 g Valcambi bar
- Gold Valcambi CombiBar – 100 g
- Gold Credit Suisse bar – 1 ounce
- Gold Asahi bar – 1 ounce
- Silver American Eagle coin
- Silver South African Krugerrand coin
- Silver Austrian Philharmonic coin
- Silver Australian Kangaroo coin
- Silver Canadian Maple Leaf coin
- Silver Valcambi CombiBar – 100 g
- Silver St. Helena bar – 250 g
- Silver JBR bar – 10 ounces
- Silver JBR bar – 1 kg
- Platinum American Eagle coin
- Platinum British Britannia coin
- Platinum Austrian Philharmonic coin
- Platinum Credit Suisse 1-ounce bar
- Platinum Credit Suisse 10-ounce bar
If you absolutely adore getting a bargain while saving money at the same time, they have a section titled “Our Specials” on their website that provides excellent deals to their customers. This popular page shares special prices on specific bars and coins that are perfectly suited to adding to a precious metals IRA. According to inventory, the selection will change from time to time, so check this section regularly to look for great deals.
The Right Way to Buy Precious Metals from Colorado Gold
Everyone who’s looking to buy precious metals from Colorado Gold need to understand that their purchasing process is very easy and simple. First off, to get started you have to fill out and then submit your client agreement to them.
You can find this agreement directly on their website and it will only take you a couple of minutes to complete it in its entirety. Just enter your name, address, and email address while agreeing to the conditions in terms stated in the agreement. These conditions include the following:
- You understand that purchasing precious metals from this company is part of a legally binding contract
- You must pay the company within seven days of placing your order
- When selling precious metals to Colorado Gold, you will ship the metals to them within two business days after receiving your trade number
Once this agreement has been signed and completed, this finalizes the agreement with Colorado Gold and you become qualified to call up the company to place your order. After your order is placed, you will be given a trade number by Colorado Gold and they will verify the amount of money needed to send to complete your order.
There are a few different ways you can submit your payment to this company. You can do so via cashier’s check, personal check, wire transfer. They also allow VENMO payments as an acceptable option if the orders are smaller. To avoid fraud, it takes seven days for check payments to clear and this includes cashier’s checks as well.
Colorado Gold will now prepare to ship your order once the payment is received and cleared. The wide majority of their orders are shipped via UPS, but if you want your order to ship via USPS you can also make this request. Each shipment is insured by Colorado Gold, which is designed to protect their clients from a potential loss in case precious metal shipment doesn’t make it to you as expected.
Colorado Gold buys all of their precious metals from A-Mark Precious Metals. They charge their customers a 1% commission fee for orders below $50,000. If the order costs more than $50,000, their commission fee drops to 0.75%. Orders over $100,000 pay a 0.5% commission.
The Right Way to Sell Your Precious Metals to Colorado Gold
Additionally, if you choose to sell them your precious metals, they are definitely willing buyers. Those interested in selling platinum, palladium, silver, and gold coins or bullion bars must also complete a client agreement as well.
Once it’s completed and filled out, you should contact the company, tell them what you’re selling, and they will provide you with a quote. This is a locked-in price that they will give you for your precious metals. Afterwards, you must prepare to ship your precious metals to the company. If you didn’t buy your metals from Colorado Gold, they charge an additional 1% fee.
You can learn about the current information about pricing for bars and coins on their website if you’re looking for additional data.
Precious Metals IRAs
If you intend to buy precious metals for your retirement account, you’ll have to open up a precious metals IRA. Colorado Gold is the right company to help you with this task. They have connections to an IRA custodian that will make it possible to perform a gold IRA rollover from another retirement account to fund your new account. If this is interesting to you and you want to set up a precious metals IRA, you must establish an account with an IRA custodian first.
Once you set up the account, and place funds within it, the Colorado Gold team will purchase precious metals for you on your behalf and help you store them with an approved gold IRA depository. They will ship your order directly to the depository and your precious metals will remain there for as long as you have your IRA account active.
Colorado Gold Potential Red Flags
Customers typically want to know if there are any potential red flags before giving their money to Colorado Gold. This is a good way to think because you do not want to hand over your hard-earned retirement cash to buy precious metals from a company that is going to scam you. You obviously want the best customer service and the highest quality products that your money can buy. And you would certainly rather avoid being scammed out of your retirement account in its entirety so you’d much rather not make a poor choice.
Does Colorado Gold have any red flags? First, we turn to customer reviews from the past to get a better inkling about the company. We check websites including the Better Business Bureau, Trustpilot, Trustlink, and the Business Consumer Alliance first. Oddly enough, the Better Business Bureau website was the only one that had any reviews about this organization and it was the only one to have a rating as well.
This doesn’t necessarily mean it’s a red flag, but it isn’t the best thing in the world to see either. It’s hard to learn about a company and past customer experiences if there aren’t many reviews about them on the web.
Honestly, it feels like your gambling if you decide to give your money to a company with so few ratings and reviews. It may work out just fine and you may have discovered the next best gold IRA company that nobody knows about. Or, you may end up completely regretting your decision.
Is It a Scam to Invest with Colorado Gold?
Well, to help your mind at ease, this company has been in existence since 1977. A scam company would not last this long if they were screwing people out of their money. Plus, the BBB actually gave this group an A+ rating, which is certainly something to keep in mind. They would never provide this rating to an illegitimate organization.
Regardless, his Colorado Gold the right company to work with? To answer this question, we would honestly give it a negative answer. There are so many other investment companies out there, so you may want to avoid Colorado Gold altogether.
Why? First off, the company only has reviews from the Better Business Bureau and none from the other organizations that we mentioned earlier. This doesn’t quite say that the company is a scam, but it doesn’t really look very good for this business either. It makes it very hard to determine whether or not the company is in good standing or not. It seems more like a gamble to give your money to this organization to invest in your retirement future. You do not want to gamble with your retirement money, right?
Colorado Gold isn’t a gold IRA company. But they work with 4 different custodians that will help you get your precious metals IRA account set up. And then once you buy gold from Colorado Gold, they can have the investments shipped to a qualified depository to hold them on your behalf.
Even more important, it doesn’t appear that Colorado Gold is a very extensive collection of precious metals for sale. Their selection is decent, but there are other better Gold IRA companies out there with a much broader selection of bars and coins.
- They went into business in 1977
- They sell platinum, silver, and gold coins and bars made of bullion
- They have a special page on their website sharing discounted offers with their customers
- They purchase precious metals from previous customers and individuals that weren’t there customer as well
- They have connections to 4 gold IRA custodians that will help you with the precious metals IRA rollover process to set up your account
Overall, because of their lack of reviews and ratings from top online peer-reviewed organizations, we cannot recommend Colorado Gold in good conscience. We aren’t confident to tell our readers to give their retirement money to a company that we have a hard time trusting because we know so little about them.
Colorado Gold also isn’t the ideal company because they technically aren’t an IRA custodian even though they work with them. We have no idea what fees they’ll charge for account setup and management, which also makes it difficult to recommend this company.
By sticking with another company, you’ll have greater confidence and trust that your investments are safe and protecting your retirement future.