BBB Rating: A+
2.75/5
First Glance
Goldline is a name that you have either heard of or listened to their commercials on your work commute. You are probably aware that it is a precious metals company, but don’t know whether they charge fair prices or are even worth your time.
Fortunately, you are reading this review and here we will teach you all there’s to know about Goldline and answer any questions that you might have regarding this precious metals company. However, before we dive in, here is a brief summary.
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Who Is Goldline International?
Goldline is listed on its website as having been established back in 1960 and is based in Los Angeles. The company has helped many invest in precious metals such as gold, silver, platinum, and palladium. The company also offers many IRA-eligible precious metal bars and coins.
Goldline also has an Express IRA program that allows you to start your own precious metals IRA in just 3 steps. The company also offers no-cost coins for some purchases as a way to reduce IRA maintenance costs. The company will also over shipping costs to your preferred depository.
If you ever need to sell your precious metals, Goldline will repurchase them. Here, there are also 3 simple steps and once the company receives the metals, you will receive the money in a maximum of 3 business days. However, you cannot simply offload any gold products since the company doesn’t purchase every type of coin or bar.
If you are a collector, this company offers plenty of hard-to-find coins.
Management
Unfortunately, it is difficult to find any details regarding the company’s management team. The official website doesn’t provide this information and no other website shows the founders or executives of the company. This can be a bit of a concern since you don’t have an exact idea of who you are dealing with.
Products
Goldline offers a variety of precious metals with some of the coins the company offers actually dating back to the 19th century. The company also offers items that cannot be found elsewhere. The gold bars offered weigh a or 10 ounces or 1 kilogram.
The IRA-eligible coins offered have cool designs. Since the company is the sole dealer for some coins, they have a rather impressive collection of Austrian gold numismatic coins.
The company also offers other metals such as platinum, silver, and palladium.
Custodians and Storage
GoldStar Trust Company and Equity Trust Company are two great custodians that Goldline has relationships with. Still, the company cares so much about security that it doesn’t disclose which vault business they work with. However, they show that the companies are located in Las Vegas, Singapore, and Zurich.
Education
The official Goldline website contains a lot of useful information. The primary purpose is to show you why you need to consider investing in precious metals. The company also discusses key topics such as dollar devaluation history along with inflation.
The information provided is great to read especially for beginner precious metal investors. If you have invested before, it is still advisable to read the information since it can teach you things that you might have only known a bit of, if at all.
Unlike other precious metals dealers, Goldline does a decent job when it comes to general education. While some companies do go the extra mile, Goldline definitely holds its own in this regard.
Fees
Goldline offers more, which is why it makes perfect sense that it charges more. The company offers a “Price Guarantee Program” regarding temporary storage along with “Client Concierge” that answers customer queries. The company also offers storage and delivery options.
You will be charged commissions, fees, as well as a spread when you invest with Goldline. Crunch the numbers before placing your order. Gold is such a high-price product, which means that you should be diligent when it comes to making purchase decisions.
Complaints and Lawsuits
Goldline has a very put together website that provides a ton of valuable information. Still, what really matters the most is how the company treats its customers and what experiences they have working with them.
Unfortunately for the company, the available reviews are not very good. It has a rating of just 1.54 out of 5 stars on the Better Business Bureau website. Similarly, it has a rating of 1.7 out of 5 stars at the time of this writing on Google.
It is really bad considering that other precious metal investment companies literally have thousands of 5-star reviews. It is hard to think of any service where anyone would choose to work with a company that has such negative reviews.
Obviously, no company is perfect and there will always be customers that are not satisfied, but the consistency in some of the reviews is a major red flag.
A 2012 Goldline lawsuit verdict concluded with the company being ordered to pay back customers millions of dollars. That was the settlement for the criminal fraud charges to be dropped.
While that was close to a decade ago, it is never a good sign whenever lawsuits are involved. Who knows, perhaps the same individuals involved with the lawsuit are still running the company to this day.
Show You Invest with Goldline or Seek Alternatives?
If you want to invest with Goldline, it is best to tread with a lot of caution. The company’s legal troubles coupled with the horrible customer reviews are enough for you to find another alternative.
Today, there are numerous other similar companies in existence offering similar products but with much better reviews and far fewer fees. We definitely urge you to first check those ones out before committing. You will see a clear difference and where they shine in areas where Goldline falters.
We are not explicitly stating that Goldline is a scam or illegitimate company, but rather that while some customers have given the company positive reviews, there are much better alternatives out there.
The 3 companies below are some of the best based on customer ratings. Each one has hundreds of 5-star reviews and a 4.7 to 4.9-star rating across varied review websites.
Goldco itself has a great reputation, more than 1,500 5-star reviews, and is endorsed by celebrities like Chuck Norris.
Hopefully, you enjoyed this review and now have a better sense of what the company is like. All the best with your precious metal investments.
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