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Our Colorado Gold review aims to give Bear Lake Gold's professional opinion on this precious metal company and its offerings in the precious metal’s investment space. This review will also provide details about the company's range of precious metals, its IRA offering. Its storage solution, its management team, and costs and fees.
We employed our homed precious metals broker review methodology while conducting this procedure. We also interviewed the company’s management team, employees, and some of the past and present customers.
Unfortunately, after thoroughly investigating the details we got from these sources, we could not rate the company among our first thirty gold IRA companies in the industry. If you are interested in finding out what we heard about the company, please read till the end.
As an expert review company, we aim to provide you with information and our opinions on all major providers in the precious metal sector. We believe the more information you can glean and the more expert opinions you can take advantage of, the better the likelihood of you making a great investment choice will be.
With your financial security in mind through growing wealth by investing in precious metals, we have carefully selected the companies we believe are, in our opinion, the best in the industry to invest through.
The companies we have rated as the top three companies in the industry are Augusta Precious Metals, Goldco, and American Hartford Gold. When we conducted our reviews on these companies, we found they had great experienced management teams, a vast number of online positive reviews, staff that new what they were talking about and could answer all our queries in a timely and accurate fashion and their staff were not at all pushy. They also offered great pricing and educational materials and support. I addition they also passed all our tests and review criteria.
Please click on any or all the buttons below to request our top three companies' detailed information packs.
Colorado Gold is a precious metals company founded in 1977 by Don Stott. The company started as a family-owned business. In 2015, Stott retired. However, his children still run the business (Melissa, David, and Morgen). When we spoke to a member of the team, he told us “The family is committed to maintaining the same business standards that Don Stott had developed over the years." As an expert review company, we believe this commitment has contributed to the business's A+ rating with BBB (Better Business Bureau).
When we spoke to another of the employees in the company, she told us that “the company doesn't believe in selling rare coins. In its opinion, they may pass as lovely collectibles, but they are not the best form of precious metals investment”. She further told us that “the company focuses on helping their customers make the best precious metals investment decisions”. She went on to say “they have decided to stick with the industry's most popular four precious metals used for investments in the USA today these are: silver, gold, palladium, and platinum coins and bullion bars”.
The company’s catalog contains coins and bars in the following precious metals categories;
In addition, the company sells IRA-eligible precious metals in these same categories. The company does not sell rare coins. It considers rare coins as beautiful collectibles. However, it does not think they are good investment choices. This is a view we also hold.
Some of the IRA-eligible precious metals in the company’s catalog are;
When we talked to a company employee, she told us that “it sells Palladium precious metals”. However, when we checked the website at the time of writing this review, the only palladium bar listed (1 OZ Palladium Bar) and it was out of stock.
The company charges a 1% transaction fee for every precious metal product that customers buy, including shipping and insurance. For orders above $50,000, Colorado Gold will charge a reduced 0.75% transaction fee, and for orders above $100,000, the company charges a further reduced 0.5% transaction fee.
The company does not partner with any IRA custodians. Therefore, customers who want to set up their precious metal IRA could do that through their preferred precious metals IRA custodians. This means Colorado Gold does not offer a one-stop shop from creating to funding and securing precious metals into your IRA.
They stated when questioned about the lack of a partnership arrangement for IRA custodianship, "A handful of custodians allow physical metals in IRAs. A few that we've worked with over the years are listed below."
They do not recommend any single custodian.” Hence, the total fees for your precious metal IRAs will depend on the company you choose as your IRA custodian in addition to the percentage levied by Colorado Gold.
The company’s website has a section for Special Deals. That part is labeled "Our Specials." In this section, you will buy bars and coins at special prices. However, the products in this section are not constant. They vary depending on the company's inventory at certain times. Therefore, buyers must keep checking back constantly to know the available products in that section.
The company does not have a depository that it partners with. Therefore, the storage locations you can use for storing your IRA-eligible precious metals will depend on your chosen IRA custodian and the storage facilities it recommends.
The details on the company’s website about its shipping state, “Your metals are stored in depositories and are under the control of your IRA custodian.”
“Colorado Gold will arrange for shipment of your order directly to the depository, and the order will be stored in your name. When selling from your IRA, Colorado Gold will fund the account with cash once the transfer has occurred.”
The company does not only sell precious metals. It buys from customers and non-customers too. When we spoke to the company’s customer care about this service, she told us that customers must fill out the company’s clients’ forms before selling their precious metals to Colorado Gold.
After clients who want to sell have filled out the form, Colorado Gold will send them a quote. The quote will show you the price at which the company will lock in the sale of your precious metals. If the sale is agreed, then you can go ahead to ship the metals to Colorado Gold.
Furthermore, you will not pay a transaction fee if you are reselling the precious metals you bought from the company. However, if you are trying to sell a precious metal you did not buy from the company, you will pay a 1% transaction fee.
Investors who want to add precious metals to their portfolio can work with Colorado Gold. The company can work with investors' preferred IRA custodians who can roll over from an existing IRA or transfer funds to their precious metal IRA. All these investors need to do first is to set up and fund their IRA through their preferred custodians.
Immediately after the funding process is complete, Colorado Gold can assist you in buying your preferred IRA-eligible precious metals. When the buying process is complete, Colorado Gold will ship your orders to your preferred IRS-approved depository.
A+
BBB had recorded zero complaint for Colorado Gold in the last three years
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When we asked another Colorado Gold employee about the company’s promotional offerings, he revealed that the company had no promotional offer at the time of writing this review.
If you desire to invest in a precious metals IRA through a company with promotional offers for new customers, we recommend opening an account with Goldco. Goldco gives you about $10,000 worth of free silver as a new investor if you qualify.
In conclusion to this Colorado Gold review Bear Lake Gold believes after our rigorous investigation, Colorado Gold does not operate a scam based on what we discovered about the company. It is a legitimate provider in the precious metal space, all be it one of the weaker providers we have review in our opinion,
Because they have been in business for over 40 years, we would have thought they would have flown through all our checks and balance and they did not.
We had serious concerns about the lack of customer reviews on third party sites and despite advertising for previous customer to come forward to help us with our research we were unable to recruit enough customers to make the sample statistically relevant.
I can find people to ask about the quality of their customer service as an expert review company we cannot recommend them to our readers.
We have rated three companies as excellent not just in customer services provision but in all the areas we examine as part of our review process.
Our top three recommended precious metals IRA companies are Augusta Precious Metals, Goldco, and American Hartford Gold.
They have the most excellent customer service departments in the industry. In addition, you will enjoy all the other perks that come with investing through a company that cares about your investment needs and goals.
To find out what these other perks are, please click the buttons below to get a full review of these companies.
Our #1 Precious Metals & Gold IRA Company - Best Overall
Augusta Precious Metals is our best rated overall precious metals company
Our #2 Recommendation - Best For Promotions
Read full Goldco Pros and Cons Review
Goldco is our second top rated gold and precious metal company. Having been top rated all of last year they were very close top Augusta Precious metals
Our #3 Gold & Silver Company -Great Prices and Great Customer Service
American Hartford Gold is our third top rated company.
