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GoldBroker is an online investment platform where investors can buy and sell physical silver and gold bullion that is stored in the company’s vaults in New York, Zurich, Singapore, and Toronto.
On buying bullion, it is usually held in the investor’s name which means that they get outright ownership of the bullion they buy. Clients can buy bullion in lump sums with the minimum investment pegged at $5,000.
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History of GoldBroker
GoldBroker was founded in 2011 by Fabrice Drouin Ristori, a French-based investor and entrepreneur.
After seven years of investing in the digital sphere, in 2010, Fabrice sold two companies that the founded alongside other parties and he had one major headache … Which was the best way to invest the money he garnered in an unstable market and financial atmosphere?
At the time, his main objective was to continue his entrepreneurial ventures without having to divide any of his attention to managing his many assets.
Like many serial savers, he was looking for a form of investment that had a history of stability amid constant market upheavals.
After a lot of research, he identified gold as one of the safest ways to hedge his assets since the value of gold had a long-proven ability to withstand financial market upheavals.
After further research, he finally came up with a genius solution to the problem of how to best protect his assets… First, his assets would not be tied to paper gold rather he would choose physical gold bullion.
He would also not store his gold in a bank rather he would choose an external storage facility in a politically stable country.
To facilitate the safe storage of his assets, he would rely on a security firm that knew his identity, a firm that allowed him direct access to his vault, and, a firm that would agree to commit to a contract that guaranteed that he was the sole owner of the physical gold they handled with no other intermediary having access to his assets.
Based on his experience and research, he foresaw that due to major money and financial problems, many savers would eventually start turning to gold bullion as the best way to protect their hard-earned savings in the long term.
Faced with uncertain financial markets and lacking a suitable platform through which he could invest in physical gold, Fabrice decided to found his own company www.goldbroker.com which he could use to protect his assets as well as offer a quality solution to other savers looking to invest their money in physical gold.
GoldBroker's Precious Metals Storage Options
The company follows a novel storage approach when it comes to the offshore storage of bullion and coins.
GoldBroker allows investors to be the custodian of the precious metals they own directly. The company never accepts to be the custodian of any investor’s precious metals.
GoldBroker eliminates the risk that comes with too many people having access to precious metals owned by an investor. This is because investors own precious metals directly and the storage account is usually opened in the investor’s name.
As the sole owner of the precious metals they have bought, an investor can personally visit their vault to either check the status of their reserves or make a withdrawal.
To offer trusted precious metals storage solutions, GoldBroker partners with Maca-Amit – a trusted storage partner for high net-worth individuals and financial institutions across the globe.
Malca-Amit operates independently. Malca-Amit is usually responsible for issuing investors with ownership certificates that clearly show the name of the gold owner and the serial numbers of the gold bullion that one buys.
The ownership certificates issued usually clearly identify who owns precious metals they hold in storage such as silver, gold, palladium, and/or, platinum.
On choices of offshore storage areas, GoldBroker offers several choices including:
The majority of the precious metals storage vaults in New York usually cater to people who own America Gold IRA accounts whose bullion reserves must be held in United States territories as per the strict retirement account rules by the IRS.
Unique Benefits of Precious Metals Storage Solutions from GoldBroker
This usually eliminates the risk of an investor falling under counterparty default (bankruptcy), confiscation of assets by banks, and, confiscation of assets by the government.
Further, this storage system also allows an investor to quickly access their precious metals reserves if banks temporarily close.
On buying gold through GoldBroker, an investor is usually issued with an ownership certificate by Malca-Amit – an independent Swiss-based firm that guarantees that the gold exists in their vaults.
According to Swiss law, a precious metals storage company can only issue this certificate if the precious metals indicated on the certificate are physically available in their vaults.
All clients who invest in precious metals through GoldBroker can get personal access to their vaults to either carry out an inspection or withdraw reserves after first giving 48-hour notice of their intention to visit the vault location.
The personnel from Malca-Amit are known to offer secure and discreet access in a neutral and comfortable environment.
On buying precious metals from GoldBroker, they will be stored in a secure vault that is managed by the company’s insured storage partner, Malca-Amit.
As an investor through GoldBroker, your reserves will be assured through the insurance policy held by Malca-Amit. Your reserves will be protected against all risks except for losses as a result of a nuclear explosion, terrorism, or civil war.
What Precious Metals Does GoldBroker Offer?
The company mostly deals in gold and silver bullion as well as some coins. They also offer a few options when it comes to palladium and platinum bullion. The company mostly offers products in bulk.
For example, you can get 10-ounce rolls of gold or boxes weighing 400-500 ounces of silver coins.
Recently, the company has been offering these silver coins and small 1-ounce bars of palladium, platinum, and gold alongside their traditional silver and gold bullion bars.
The bigger bullion bars on offer by GoldBroker usually start from 15-ounce gold bars to 1,000-ounce silver bars.
One of the best things about GoldBroker is that they will buy back any precious metals they sell to you as long as you contact them and inform them of the amount you wish to sell.
Note that not all the precious metals products offered by GoldBroker can be held in IRA accounts, and, their offshore storage solutions are not allowed by the IRS for IRA accounts.
How to Invest in Precious Metals with GoldBroker
How to Sell Bullion and Coins with GoldBroker
If you want to sell your precious metals reserves, you can either handle the sale personally or rely on the precious metal sales service by GoldBroker if you want a quick sale.
If you rely on the company to handle the sale of your precious metal reserves, traders will contact prospective buyers and manage the sale process on your behalf.
Note that GoldBroker is not intended as a vehicle for trading physical bullion.
To guarantee that your wealth is protected, the company usually advocates for investors to store their precious metals reserves in the long-term outside traditional banking systems.
GoldBroker’s Fees
The fees charged by GoldBroker vary depending on the type of precious metal that you invest in (gold, silver, platinum, or palladium), its form (coins or bullion), and, the amount of money that you invest.
All rates are indicated in the company’s shop when you are either buying or selling precious metals.
Note that storage fees are separate from the rates for precious metals transactions.
GoldBroker's Quality Control Measures
The company only trades in bullion that is of an investment grade.
The coins and bars sold by the company are sourced from refiners who have been certified by the London Bullion Market Association. This usually guarantees that you are buying products that have gone through stringent quality and assaying standards.
Once the bars and coins are sourced from refiners, they are maintained professionally and are sold with a certificate of authenticity. With this certificate, you can easily trace the source of the precious metals that you buy.
On GoldBroker’s website, you will find references from renowned industry brands such as the U.S. Mint, Valcambi, Royal Canadian Mint, RMC, Perth Mint, and Asahi.
It is also important to point out that GoldBroker can buy back precious metals from their clients as long as they are stored in secure units.
To guarantee the traceability of the precious metals they buy back, GoldBroker does not buy back precious metals that have been withdrawn from their secure storage units.
Is Gold a Liquid Investment?
According to data garnered from the World Gold Council, the world gold market is the third largest, falling behind the American bond markets and the Japanese bond markets.
The gold market has enough liquidity and depth to cushion institutional portfolios such as retirement benefits schemes and central banks.
Simply put, gold is a very liquid investment option that can be easily and quickly traded over the counter across the world.
GoldBroker has extensive connections with a lot of industry partners, and as such, they can assure that your buy and sale orders are executed as long as the precious metals remain stored in their partner’s (Malca-Alma’s) independent vaults.
Once GoldBroker executes a sale order on your behalf, they will naturally take their 1% commission from the proceeds of the sale.
Is GoldBroker Legit or a Scam?
GoldBroker is legit precious metals dealer. The company handles transactions (buys and sales) transparently and confidentially.
Further, they transfer the metals that you buy in your name and do not store precious metals on behalf of clients.
Top Reasons to Consider Investing in Physical Gold
Investing in physical gold is a financially sound idea for people looking to diversify their asset base and protect their wealth from inflation, baking risks, increased government debt, and, the reversal of financial markets.
Over the centuries gold has kept its spot as a top choice for value storage and as a generally accepted medium of exchange. Since time immemorial, gold has held actual monetary as well as symbolic importance to the human race.
It is often talked about in the Old Testament and has drawn explorers throughout the ages.
To date, this yellow metal has maintained an expression of what is best and exclusive – a case in point being that the top medal in Olympic competitions is made of gold and so is a wedding band.
48% of all the gold mined from the earth is usually turned into jewelry while 40% is placed in investment markets. Gold also appeals to people of all castes and age groups.
Lastly, though 1971 saw the gold standard come to an end, central banks across the world still maintained the bulk of their reserves to retain their credibility and those of their fiat currencies.
As it is, most central banks still purchase gold in bulk which supports its value.
How Does GoldBroker Ship Precious Metals to Clients?
GoldBroker ships physical precious metals using the three major carriers in the U.S.: FedEx, UPS, and, USPS. All these carriers are multinationals that operate across the globe.
With these carriers, GoldBroker can guarantee that your precious metals will arrive at your preferred destination safely and on time.
Any gold or silver orders that exceed $250,000 are usually ferried by the company using an armored car service. To learn more about how the shipping of precious metals works, contact GoldBroker directly.
For any domestic shipping requests inside the United States, GoldBroker usually offers clients free shipping services.
What Happens if a Shipment Gets Damaged or Lost While in Transit?
All shipments from GoldBroker are usually insured which means that you are covered in case of any eventuality. If a shipment disappears while in transit, the company will send out an identical shipment as soon as it is practically possible.
Note that the insurance covered by GoldBroker only covers packages while they are in transit.
Pros
Cons
Conclusion
GoldBroker has been dealing in precious metals for more than a decade. The main aim of the company is to help investors buy and store precious metals.
The company works with both corporations and individuals across the world but they do not always offer better deals than the competition. For example, the company does not indicate how products are priced.
Further, reviews on the company’s services from past clients on the web and consumer platforms such as the BBB are close to non-existent. As it is, the company does not have any accreditation and ratings from the BBB.
GoldBroker is an ok company, they are not a scam, but we do not recommend them.
They are not the best option when making individual purchases of gold and silver and definitely not the best way to go for investors looking to protect their saving with a gold IRA.
When investing in gold, you only want to work with the best, most trustworthy companies, like the ones that have made our "highest recommendation" list.
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I started BMOGAM Viewpoints as a way to compile all my views on investing in one place. I own my home, have some real estate, and own a few stocks like most people, but what really drives my interest in investing is I have a strong love of precious metals, especially gold.
