Goldline is a precious metals firm that has been in the industry for over 60 years. The company offers investors the option to purchase gold, silver, platinum, and palladium assets, as well as open a precious metals IRA. Read this Goldline review to learn the details.
In August 2017, Goldline sold its assets to A-Mark Precious Metals, Inc., and today exists as Goldline Inc., a subsidiary of A-Mark Precious Metals.
Goldline
| What’s offered | Precious metal IRA; IRA-approved precious metals coins and bars |
| Annual fees | Bi-annual storage fees of 1% of your holdings or $25, whichever is greater |
| BBB rating | 4.67/5 |
| Trustpilot rating | ★★★★★ 4.9/5 |
Goldline Background
Goldline was founded in 1960 and has its headquarters in Los Angeles, California. The company has been in the precious metals industry for over 60 years and has provided investors with gold, silver, platinum, and palladium products. It also has IRA-eligible coins and bars for those saving up for retirement, as well as rare and collectible coins.
Goldline has an Express IRA program, which offers clients a three-step process to establish a Precious Metals IRA. It also gives “free bullion coins on qualifying purchases to help offset IRA account maintenance fees.”
Additionally, the company has a buyback program for those who want to sell coins and bars. Once Goldline receives and approves the precious metals, payment is received in three business days. However, the company does not purchase jewelry made of precious metals that do not come in a coin or bar form.
According to the Los Angeles Business Journal, in 2009, Goldline had a sales revenue of $825 million and over 300 employees, which made it the sixth fastest-growing company in Los Angeles County.
Goldline Reviews, Ratings, and Complaints
Goldline’s reviews are mostly positive. Customers have rated their services 4.67 out of 5 on Better Business Bureau (BBB) and 4.9 out of 5 on Trustpilot.
The company has received multiple complaints over the years, leading to poor reviews on several consumer report sites. In fact, a website for complaints was created by the City Attorney of Santa Monica. This allowed the city to gather complaints from those who were mistreated by Goldline. The company’s assets were then frozen in December of 2010 due to ongoing complaints and an investigation.
In 2011, the city of Santa Monica brought charges against Goldline. The company had been charged with 19 counts of fraud and theft and had allegedly been using bait and switch tactics on their customers. In February of 2012, Goldline settled. They instated new sales practices, one of which was having a third party verify all commissions and markups that had been disclosed to customers over the phone. They also offered to refund $4.5 million in assets to 43 customers who had filed complaints. As a result, the criminal charges were dropped, and there was no civil action taken against the company. However, the company’s reputation was tarnished.
| Consumer Protection Agency | Ratings | Number of Reviews | Visit Site |
|---|---|---|---|
| Better Business Bureau (BBB) | 4.67/5 | 86 | BBB.com |
| TrustPilot | 4.9/5 | 9,105 | TrustPilot.com |
| Trustlink | ★★☆☆☆ 2.3/5 | 50 | Trustlink.com |
Goldline Products and Services
Goldline has a generous range of products and service offerings, catering to all types of precious metal investors. Through Goldline, individuals are offered:
- Gold, silver, platinum, and palladium coins and bars
- Precious metals IRA
- Educational resources
Coins and Bars
Goldline offers a diverse selection of gold and silver bullion coins issued by the Royal Canadian Mint and The Perth Mint Australia. Many of these coins are IRA-eligible and are guaranteed for their weight and purity.
In addition, Goldline provides collectors and investors with a variety of precious metals, including gold bars ranging from 10 ounces to one kilogram. Their inventory also includes numismatic gold coins from Austria and an assortment of metals such as palladium, silver, and platinum.
For those interested in rare and limited-production pieces, Goldline features unique gold coins and bars. Notable offerings include the $5 Liberty Gold Coin, the Heroes of Two Nations Gold Bullion Coin, and the Legal Tender Bar Gold Bullion. The Mapleflex gold bar is another standout product available for purchase.
The website provides detailed information on each product, including pricing and eligibility for IRAs, allowing customers to explore their options before making a purchase.
Precious Metals IRA
Having precious metals as a part of your retirement savings plan can reap long-term benefits. You may be able to roll over your current plan into a precious metals IRA, whether you have an existing 401(k), IRA, Thrift Saving Plan, or any other qualified plan. Only specific bullion and proof coins, including some precious metal bars, can be held in the customer’s Individual Retirement Account (IRA).
These are the rules that apply to Gold IRA and Silver IRA, according to the site:
Gold IRA Rules: Gold coins and bars (with the exception of the bullion and proof gold American Eagles) must have a minimum fineness of 99.5 percent to qualify for an IRA.
Silver IRA Rules: Silver coins and bars must have a minimum fineness of 99.9 percent to qualify for an IRA.
You can apply for this process in 3 steps:
- Contact a Goldline Account Executive to open an IRA account using a secure online process.
- Acquire IRA-eligible precious metals to include in your IRA portfolio.
- Transfer your new precious metals into your IRA account with the help of a precious metals custodian.
Educational Resources
Goldline offers useful information regarding investment goals, precious metals, and general information about gold. The company also provides educational resources that are especially helpful to new investors. Even if you have invested before, it is still a good idea to read through the articles to gain even more knowledge about gold.
Additionally, Goldline has a section that tracks current precious metal prices and a chart that shows trends in the price of gold.
Goldline Prices and Fees
Goldline’s service fees can be a little hard for the website user to understand. However, they have a “Price Guarantee Program” regarding changes to the customer’s account and a “Client Concierge” who answers questions. They offer delivery and storage options as well.
However, there are shipping and storage fees. Specifically, there are bi-annual storage fees of 1% of your holdings or $25, whichever is greater. Shipping fees are based on the product and the shipping location.
| Product | Fees |
| Physical gold | Biannual storage fees of 1% of your holdings or $25, whichever is greaterStandard and express delivery fees (vary by product and location) |
Goldline Pros and Cons
The company has faced some legal issues in the past that have negatively affected its credibility. While the website does have extensive information about gold coins and precious metals, legal cases from the past have impacted its reputation.
Pros
The company has been in business since 1960 and used to be the largest retailer of gold in the industry
New investors are given the tools and information to learn about the precious metals industry and how to get started with investing
Cons
The precious metals purchased on Goldline are pricier than the competition and there are several add-on costs
Civil and criminal investigations were opened in several states against the company. Additionally, many complaints were filed.
Goldline Reviews: FAQ
Is Goldline Reputable?
Yes, Goldline is a legitimate precious metals dealer with decades of experience in the industry. However, its reputation has been mixed due to past controversies and various Goldline complaints from customers regarding pricing transparency and sales tactics.
What Is the BBB Rating for Goldline?
Goldline has an A+ rating from the Better Business Bureau (BBB), indicating a strong commitment to resolving customer issues and maintaining ethical business practices. The company has a 4.67/5-star customer review rating based on an average of 86 customer reviews.
Can You Get Gold (And Other Metals) Delivered to Your Home?
Yes. Goldline delivers precious metals to your account address as soon as there is a receipt of funds associated with the customer’s purchase. Usually, the metals will be delivered within 28 days of receipt of funds unless the state requires a shorter delivery date.
What Is the Minimum Purchase for Goldline?
Goldline requires a minimum purchase of $200 per month per product for its accumulation programs. For one-time purchases, the minimum may vary depending on the specific product. It’s best to check with Goldline directly for the most up-to-date requirements.
How Do I Sell My Gold Back to Goldline?
The company states that although dealers cannot guarantee a buyback, Goldline has been known to repurchase the precious metals it sells.
Can You Store Your Investment With the Company?
Yes, storing precious metals with the company is available for most clients. Some states require clients to have their precious metals delivered. The customer’s Account Executive can provide more information on whether third-party storage is available for them. Goldline’s Account Agreement page explains full terms regarding the storage of precious metals.
How is the Support?
The company offers the usual resources such as a phone number, live chat, and an email address in case customers want to reach out with questions.
Is Goldline a Scam?
Goldline is not a scam. While some investors search for Goldline complaints due to past controversies, the company is a legitimate dealer in precious metals. It should be noted that Goldline International no longer exists. It sold its remaining assets to A-Mark Precious Jewels.
Contact Information
| Website | https://www.goldline.com/ |
| Phone Number | (800)827-4653 |
| info@goldline.com | |
| Address | 11835 W. Olympic Blvd Suite 500 Los Angeles, CA 90064 |
