It’s hard to believe that the so-called economic recovery in America is underway when so many people are still losing their retirement savings day after day. If you’ve ever thought of investing in a gold IRA to protect your savings, there is no better time than now.
In this Goldmart review we’re going to go over this company, what they’re all about, and discover whether or not they are a good fit for you and your investment plan.
Services and Products
As you would have guessed from the name, Goldmart is a precious metals broker. They sell gold, silver, platinum, and palladium bullion as well as various coins. They also have a separate website for rare coins if that’s your thing, though those may not be the best investment option.
Other services and products include:
- Live chat
- Want List
- Investors Kit
As far as IRAs go, Goldmart is not an official IRA custodian. Instead they will refer you to one of four different custodians to do business with: New Direction IRA, Sterling Trust Company, Goldstar Trust Company, Self Directed IRA Services.
Note: I find it odd that Goldmart would choose to refer people to the Sterling Trust Company considering all the negative reviews and controversy that surrounds them. For more information on that, check out my Sterling Trust review.
In this section of our Goldmart review we’ll take an in-depth look at what people are saying about the company.
This customer was happy to get paid for an old ring she found in elementary school:
“Turned in an old white gold ring I found in elementary school that had just been sitting around collecting dust and got $150
Happy about that” – Breana L. From Yelp.com
On the other hand, this customer claims that they sell items that they do not have and accuses them of fraud:
“I was trying to see if anyone else has been ripped off by Goldmart.com.
I order PM’s 3 weeks ago and till today I have been told repeatedly that my shipment is going out tomorrow, tomorrow and again tomorrow. They do not have any inventory as stated on their website. They have items on the website that states in stock yet they are not. I was told by their manager Nick that their insurance has lapsed into a month to month and that they can not insure shipments. These guys are selling stuff they do not have. I believe they will end up like MF Global. I have start fraud proceedings against them with the FBI.” – Philip K. Yelp.com
This customer makes similar accusations:
“They are selling things they do not have. They DO NOT update their website. They also DONT reply to emails. If they do it will be in 5-10 days( no exaggeration). THis is pure negligence as a bullion dealer and a business in general. I gave them a call, and the lady kept making excuses that made no sense whatsoever justifying why my order hasn’t shipped out. I paid with a credit card so it states they will take 2-4 days processing time. BUT I’ve waited a total of 10 business days so far AND my order has no shipped. They said my order was going to ship the week before. And it never did. Goldmart’s video on their website showing why they are "america’s leading bullion dealer" is BULL!@#$. If you actually go onto the BBB website, they have a D- NOT AN A-. Goldmart is the ONLY bullion dealer that I’ve EVER had problems with. I will never be buying from them again. THis was all for an order of 6 Silver philharmonics. Ridiculous.” – Liao Charles from YellowPages.com
Overall ratings for Goldmart are pretty terrible as you can see below. They even have a D- with the BBB which is pretty hard to do.
1/5 – Yellow Pages
1/5 – Yelp
D – BBB
One of the first things I noticed when I started doing research for this Goldmart review was just how many negative reviews, accusations, and warnings about this company popped up on Google. When I searched “Goldmart” literally the first thing that came up was a YouTube review where a customer complains about their customer service and accuses them of selling items they don’t have.
On top of all this one of the IRA custodians that Goldmart refers you to is Sterling Trust, a company also surrounded by negative reviews and serious accusations of fraud as well.
Because of all this I have to end this Goldmart review with a final score of:
In all honesty, Goldmart just doesn’t seem reputable enough for me to recommend them to you in anyway. If you want to buy gold or other precious metals look elsewhere.
If you’re looking for a company with a proven track record and strong reputation to help you get set up with a gold IRA, Regal Assets is my top recommendation.
Regal Assets is accredited by the Better Business Bureau, has a 5 star rating with TrustLink, and has a AAA rating with the Business Consumer Alliance.
Regal Assets can help you:
– Buy IRS approved gold
– Set up a self-directed IRA
– Store the gold in a secure location
For more information on how Regal Assets can help you protect your savings in a secure gold IRA, Click Here now.