Welcome to my Colorado Gold 2022 Review!
Are you familiar with this company? If not, you'll get to know everything you need to know about them here!
Let's explore how Colorado Gold works, how to buy or sell to them, and just about everything.
So, without further delays, let us begin our Colorado Gold 2022 Review!
Colorado Gold Summary Review
- Name: Colorado Gold
- Website: http://www.coloradogold.com/
- Founder: Dan Scott
- Cash Minimum: N/A
- IRA Minimum: N/A
- Fees: N/A
- Rating: 3.7/5.0
What is Colorado Gold?
Colorado Gold is a company that buys and sells gold and other precious metals. They are a family-owned and operated company with offices located across the nation.
They also have been in the industry for more than 40 years.
The founder of the company is Don Stott, the father of the family. Now, it is being operated by Melissa, Morgen, and David, the children of Don.
More so, they work on different hours depending on who is available. Melissa is normally open from 8:00 ET to 4 ET (New York), David is normally open from 8 CT to 4 CT (Wisconsin), and Morgen is normally open from 11 PT to 5 PT.
To be clear, they are not a coin shop. Thus, they are brokers and they can buy for you.
They charge commission fees for their services such as:
- $50,000 orders or less than $50,000 orders = 1.00% (including insured shipping)
- Over $50,000 orders = 0.75% (including insured shipping)
- $100,000 or more = 0.5% (including insured shipping)
Products and Services of Colorado Gold
In this Colorado Gold 2021 review,
Colorado Gold offer precious metals products such as bullion coins and bars. Here are some of the products they offer:
Gold is considered to be the most popular as an investment.
They buy gold since it can serve as a hedge or harbor against economic turmoil and inconsistency.
As a matter of fact, gold also behaves more like a currency than a commodity. Given that it is being used as reserves in central banking, its low correlation with other commodity prices, and many more.
Silver can also be used as an investment. It has been used as a form of money and store of value.
However, it is not as popular as it is before since the end of the silver standard.
Nowadays, it is being used in industrial applications (40%), followed by jewelry, bullion coins and exchange-traded products.
Palladium's price peaked near US$1,100 per troy ounce in January 2001.
Now, palladium surplus condition was caused by the Russian government selling off government stockpiles built up during the Soviet Era, at a pace of about 1.6 to 2 million ounces a year.
However, Colorado Gold did not post any palladium products. Probably there's nothing available right now.
Platinum is relatively scarce even among the precious metals.
This precious metal is being traded on the New York Mercantile Exchange (NYMEX) and the London Platinum and Palladium Market.
To be saleable on most commodity markets, platinum ingots must be assayed and hallmarked in a manner similar to the way gold and silver are.
Does Colorado Gold offer Precious Metals for IRAs?
Colorado Gold may give precious metals for your IRAs if you want it. However, there are a few crucial elements to remember and think about:
- To preserve your IRA's tax-deferred status, you, the client, must relinquish control of the metals.
- The precious metals you'll get from them must be kept in depositories under the supervision of your IRA custodian.
- If you wish to buy from them, you must first open an account with them and fund it with cash before they can acquire metals for you. You can sell securities to get money in your account, but you must have cash on hand when you call to place your transaction.
Selling to Colorado Gold
Colorado Gold can buy precious metals from you.
However, they charge 1% for the product if it was not purchased through Colorado Gold, and you pay for shipping/transport. There is a $50 fee for wire transfers.
For new customers, you are required to present the metals at the depository prior to the trade details being finalized. Please note that metals received in bad condition or damaged may be paid at a lower price.
A 0.5% commission will apply to sales from anyone other than the original purchaser of the metals.
There is a $25 service charge that will be deducted from orders not charged a commission.
Reviews & Ratings of Colorado Gold
What I Like About Colorado Gold
Transparent Prices and Well-detailed description
Each product of Colorado Gold has a detailed description with information such as its base price, weight, size, thickness, fineness, and its cost per unit depending on your purchase amount.
Aside from this, the description includes who minted it, the details on its obverse and reverse faces, and even details about the manufacturer.
Colorado Gold works inside their homes, they have no employees, do no advertising, and pay no rent. They are a simple company and clients can request products not listed on the site.
What I Don't Like About Colorado Gold
It has minimum orders
Colorado Gold requires you to buy at least 4 ounces of gold. More so, if your order is less than 7 ounces, there's an extra charge of $25!
For silver, you have to buy a minimum of 100 ounces, and if you buy less than 200 ounces, there's also an extra charge of $25!
They don't specialize on IRAs
Apparently, even if they do offer precious metals for your IRAs, they don't particularly specialize in it. They also don't have special offers when it comes to IRAs.
There's probably a better company to acquire precious metals for your IRAs than Colorado Gold.
It has no reviews
The most difficult companies to assess are those that does not have reviews. Apparently, even if they are more than 40 years in the industry, there's no customer reviews available.
Limited payment methods
Payments for Colorado Gold may be made by wire transfer, personal check, cashier's check or VENMO (small orders). They even require wire transfers prior to placing the order, depending on the size of the purchase and purchase history, and no credit cards are accepted.
If you buy from them, and wish to sell, there is a $25 sell fee and the shipping is on you.
Is Colorado Gold a SCAM?
In this Colorado Gold 2021 Review, our verdict is:
With all those years in the industry, Colorado Gold is probably NOT A SCAM.
However, are there anyone buying from them?
There's no available reviews or rating in the web. So, there's a room of doubt on that part.
More so, they charge a lot of fees. Aside from this, I am not sure if it is a positive or negative characteristic that they work in their homes, and there's no employees and everything.
However, this can be good since the prices are not that high.
I am not very sure about Colorado Gold, if we should trust it or not.
So, I won't recommend it.
If we want to invest in gold and precious metals, we should choose a reputable company that can provide the best services and security to our investments.
So, if you want to have the best company for your investments, I would recommend GOLDCO.
Goldco is a company that is well-trusted, well-rated, reviewed, and verified by a lot of trusted websites. You can read about them by clicking below!