Investing in precious metals has immerged as the preferred option for investors who wish to find a way to hedge against the rampant inflation sweeping across the globe.
If you are one of those investors, then this Colorado Gold review is for you. Colorado Gold might be the right place to begin your journey into precious metals investment.
Many precious metals companies offer similar services to facilitate selling and purchasing precious metals.
However, not all of them are legitimate, which is why this Colorado Gold review is important to potential investors wishing to make an informed decision.
Read on to find out more about their products, fees, complaints, and our final verdict on this company.
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What Will I Learn?
- What Is Colorado Gold? - Company Information and Background
- Colorado Gold Complaints
- What Services Does Colorado Gold Offer?
- What Does Colorado Gold Offer That Its Competitors Don’t?
- How to Buy Precious Metals From Colorado Gold?
- How To Sell Precious Metals to Colorado Gold?
- Can I Trust Colorado Gold?
- Pros and Cons
- Final Verdict
What Is Colorado Gold? - Company Information and Background
Back in 1977, the Colorado Gold company was founded by Don Scott to provide the precious metal services that were lacking at that time.
When Scott started Colorado Gold, the only products he had to work with were the U.S. Gold $20 coin which was a double eagle at 0.9675 ounces of gold, and Krugerrands from South Africa.
The company is a family-owned business that Don Scott runs with his three children David, Melissa, and Morgen.
Don’s children are spread across the United States. Melissa works on the east coast, Morgen is on the west coast, and David works in the mid-west.
Colorado itself was already well known for the Colorado gold rush that happened in 1858. Therefore, as a native of Colorado, Don Scott was no stranger to precious metals.
There is a wide range of investment options offered by Colorado Gold, mostly centered around precious metals, coins, and bars.
While Colorado Gold is not an IRA custodian company, it does assist clients to purchase IRA-approved precious metals, and handles the shipping to the IRS-approved depository.
The company is not affiliated with any IRA custodian, and neither does it receive any form of compensation from any of them.
Colorado Gold helps customers to buy precious metals that it believes will bring real value, unlike rare coins which are not widely regarded as good investment options.
Colorado Gold Complaints
This Colorado Gold review would be incomplete without proper consideration of the complaints and feedback from customers and from trusted consumer reporting and rating agencies.
Currently, Colorado Gold has proven to be a reputable and reliable company that boasts over 40 years of industry experience and a wide-reaching network of branches across the country.
The Better Business Bureau (BBB) has given the company an A+ overall rating. Furthermore, the past three years have seen absolutely no BBB complaints posted against the company, which is a very impressive achievement.
In fact, Colorado Gold has seen a massive 10,000 positive reviews over that same three-year period from a wide variety of customers across the globe.
All this information used in this Colorado Gold review was taken from the official BBB website.
However, upon further research, we could not find a single Colorado Gold review on Trustpilot, Business Consumer Alliance, or Trustlink.
A summary of the Colorado Gold reviews is as follows:
Better Business Bureau Rating: A+
BCA Rating: N/A
RipOff Report: No Reports
BCA Complaints: N/A
BBB Complaints: 0 in the last three years
What Services Does Colorado Gold Offer?
Colorado Gold can be described as more of a precious metals dealer than anything else. As mentioned earlier, it is not an IRA custodian company but is there to assist those who wish to purchase precious metals.
The following is a brief summary of the main services that Colorado Gold has to offer:
Buying and Selling Precious Metals
Colorado Gold has a wide selection of gold, silver, and platinum coins and bars. However, palladium products are currently not available in their catalog. The full list of products is available on the Colorado Gold website.
Some of the coins you can buy and sell through Colorado Gold include:
American Gold Buffalo
2022 Gold Eagle
Backdated Silver Eagle Coins
1oz Valcambi Gold Bar
2022 Austrian Silver Philharmonic
1oz Valcambi Platinum Bar
2021 Platinum Lion of England
2022 Gold Kangaroo
2022 Silver Krugerrand
Credit Suisse 1oz Platinum Bar
2022 Silver Britannia
2022 Gold Maple Leaf
2022 Gold Britannia
1oz Asahi Gold Bar
Although some investors seek out rare coins for their sentimental value, Colorado Gold does not advise its clients to make such investments, and as such prefers to deal in coins similar to those mentioned above.
Precious Metals Advice
A lot of knowledge is required for someone to become a precious metals investor. However, even those who are new to the industry can find a lot of advice from the experts who work at Colorado Gold.
This means customers can get assistance with purchasing the right kind of precious metals for their needs, be it for long-term investments, portfolio diversification, creation of an emergency fund, or as part of collectible items.
Assistance With Precious Metals IRA
Not all precious metals are IRA-approved. In fact, the majority of gold and silver products that are available on the open market do not meet the IRS standards for inclusion as part of a retirement account.
Therefore, if you are planning to diversify part of your retirement portfolio into a precious metals IRA, Colorado Gold has the knowledge and products that you need to make sure you meet the requirements. Did they make our list of best gold IRAS? Click the link to find out.
One of the most popular services provided by Colorado Gold is the buyback facility. This service is available to all customers who purchase precious metals from any of those listed on the Colorado Gold website.
How it works is that customers are guaranteed the option of selling precious metals back to the dealer should they ever wish to liquidate their account. The company will buy back the products with no extra costs or penalties imposed on the customer.
However, a 1% charge is issued on all products that were not purchased from Colorado Gold. The buy-back option is also not guaranteed for rare coins.
Transport to an IRA-Approved Depository
Although the company is not partnered with any IRA custodian, it does assist its customers with the safe transportation of all purchased products to a storage facility. This service is very important to customers who intend on opening a precious metals IRA because IRS regulations forbid them from keeping their own precious metals.
The service also protects the customer from any liability in the event of theft of the precious metals because Colorado Gold and the IRA custodian/gold companies that handle the storage are all fully insured.
What Does Colorado Gold Offer That Its Competitors Don’t?
Colorado Gold has one of the widest ranges of precious metals available on the market, meaning its customers have more than enough options to choose from, unlike other dealers than only provide a few select products.
The company also has a “Specials List” that allows its clients to have access to some select products that will be available at irresistible deals. The types of products available here depend on the company’s current inventory.
How to Buy Precious Metals From Colorado Gold?
Before you can purchase precious metals from Colorado Gold, or do any other business with the company, you have to fill out and sign a client agreement form found on the main website.
Apart from the regular details, such as an address, name, and email, you will have to confirm that you understand and agree to the following terms:
Understanding that any purchases are a legally binding contract between you and Colorado Gold
Making sure that all payments are made within seven days
Any metals being sold to Colorado Gold must be shipped within two business days after you have been issued a trade number
After signing this client form, you can select whichever precious metals you wish to buy and then place the order. You will then be asked to provide payment, which can be either a cashier’s check, personal check, or wire transfer.
As soon as your payment has been approved, Colorado Gold will prepare your products and have them shipped to an address of your choice.
How To Sell Precious Metals to Colorado Gold?
Besides selling metals, Colorado Gold also buys from its clients. The first part of the process is similar to purchasing precious metals in that you will have to sign the client agreement form.
Colorado Gold will give you a quote for the metals you are selling, and if you agree to the prices they will be locked in and you can arrange for the shipping of metals to the company. A 1% fee will be charged for metals not purchased from Colorado Gold.
Colorado Gold is not a coin shop but a broker for precious metal deals, as such, it charges fees for its services. The fees are paid annually and most customers are satisfied with the charges.
Additionally, the buy-back policy is free of charge as long as the precious metals were bought from Colorado Gold. Any purchases the company makes that are less than $50,000 will attract a 1% fee, while those above $50,000 and $100,000 will be charged at 0.75% and 0.5% respectively.
Can I Trust Colorado Gold?
One of the main reasons you are reading this Colorado Gold review is probably to find out how trustworthy the company is. With a solid reputation built over 40 years and A+ ratings from the Better Business Bureau, there is no doubt that this company is legit and trustworthy.
An endorsement from the Business Consumer Alliance agency would have rounded off this Colorado Gold Review perfectly, but a lack of complaints and over 10,000 satisfied customers is enough to convince anyone that this is a credible business.
Pros and Cons
Like any other gold dealer, buying and selling Colorado Gold products comes with its fair share of benefits and risks. To help you get a clearer picture of what to expect, here are some of the important pros and cons associated with Colorado Gold:
Great BBB ratings and customer reviews
Over 40 years of extensive experience
Wide range of products and investment options, from gold to platinum coins and bars.
Not an IRA custodian
Lack of other reviews apart from the Better Business Bureau
Does not favor investment in rare metals – (check SD Bullions review.)
As a family-owned business, Colorado Gold can provide a certain high level of personalized customer care that most of its clients appreciate. It’s no wonder that it has been in business for so long, maintaining a high standard throughout.
If you are looking for a good company to purchase gold and other metals from, then Colorado Gold is a great choice. You can contact Colorado Gold through its website and one of its team members will get back to you.
Is Colorado Gold a Legitimate Company?
Yes, Colorado Gold is a legitimate company with over 4o years of traceable references to rely on. It is also endorsed by the BBB as a top-tier gold dealer.
How Do I Select the Best Metals to Purchase?
Your choice can be made from any of the many products that are listed on the Colorado Gold website. If you are not sure, the company has qualified advisors waiting to assist.
Is There a Buy-back Policy?
Yes, a buyback option is available to all its clients free of charge, with a 1% fee being charged on any products not bought from Colorado Gold.
What Are the Available Payment Options at Colorado Gold?
You can make payments in several different ways, such as cashier’s check, personal check, wire transfer, or VENMO.