If you are looking to explore investment in precious metals, Colorado Gold might be the right place for you to start. This detailed review will help provide you with a clear picture of the company and its offerings.
What is Colorado Gold?
Founded by Don Scott in 1977, Montrose, Colorado-based Colorado Gold offers a range of investment options which include bars or coins of gold, platinum, and silver including some IRA-approved bars and coins. The company believes that these precious metals will bring profit to investors, unlike rare collectibles which they claim are not a suitable investment option.
Colorado Gold complaints
Colorado Gold is a reputable and reliable family-owned business which has been in the industry for over 40 years. The company has an A+ rating from the Better Business Bureau (BBB) with zero complaints in the last three years and over 10,000 positive reviews from satisfied customers. This information can be accessed on the official BBB website.
There are currently no reviews of Colorado Gold on TrustPilot, TrustLink, and Business Consumer Alliance.
Before we continue...
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I recommend you check the list before proceeding with any IRA transfer.
Quick answer: Augusta Precious Metals is our #1 recommendation for multiple reasons, including their
A+ BBB rating, thousands of top rankings, and Money magazine’s selection of them as “Best Gold IRA Company.” PLUS, they will pay all custodial and storage fees for up to 10 years!
What services does Colorado Gold offer?
Colorado Gold provides a huge collection of investment options that range from gold to platinum bars or coins. They also have a special collection of coins and bars offered at special deals. Palladium products are currently not included in their catalog.
Colorado Gold also assists clients in holding their investments in an IRA. For this, the client has to connect with an IRA custodian firm to establish an account. The Colorado Gold team helps the customer purchase items they prefer to hold in that particular account. The company takes care of shipping the order with an IRA-approved depository to hold the metals until the investor’s retirement.
Colorado Gold also has a buy-back policy that applies even to products not sold by the company. The firm buys all precious metals which are hallmarked, and charge a nominal 1% fee if the precious metals are purchased from sources other than Colorado Gold.
What does Colorado Gold offer that its competitors don’t?
The company website features an “Our Specials” section where they offer great deals on investment options. This selection depends on the company’s frequently updated inventory.
It has a buy-back policy that most other companies do not offer. They purchase every precious metal available with a Hallmark and charges as low as 1% service fee if the items are purchased from other sources.
Colorado Gold has a variable annual cost and most customers are satisfied with the prices charged by the company. For assisting customers in their buy-back policy, the company takes a minimum charge of 1% if the purchased items were not sold by them.
They buy all the A-marked precious metals for a charge of 1% as fees for orders below $50,000. For orders above $50,000, the company charges a fee of 0.75% and for orders costing more than $100,000, charges are 0.5%.
To make purchases, customers need to enter into a legal agreement and to complete payment within 7 days.
Can I trust Colorado Gold?
It appears that Colorado Gold is a credible business. It has been serving its customers for over 40 years now and has earned an A+ rating from the BBB. The company has zero complaints for the past three years and positive customer reviews can be found on the BBB website. There are currently no ratings or reviews for the company from other sources. This makes it difficult to identify any red flags.
Though Colorado Gold is not an IRA custodian company, they recommend four different custodians that can be used for setting up a precious metals IRA and investing in precious metals.
Pros & Cons
Though there are limited reviews and ratings for the company, it does not mean that it is a scam. This family-owned business has been in the market for more than 40 years and has over 10,000 satisfied clients.
The company provides a wide range of investments in gold, platinum, and silver. They do not offer rare collectibles, which they do not consider as viable investment options. You can select from their list of options available and invest and create a portfolio according to your requirement.
Colorado Gold supports a buy-back policy for its customers. For helping customers with their buy-back policy, the company charges a 1% fee if the purchased items were not sold by them.
Colorado Gold has the following payment options:
- Wire Transfer
- Personal check
- Venmo for small orders
- Cashier’s Check
While the company will assist clients in purchasing precious metals, they will not manage the transaction or handle the setting up of the IRA.