Last Updated on November 30, 2023 by Ben
Goldmart is an online marketplace for gold and silver bullion. They offer competitive prices on gold, silver, platinum, palladium, and other precious metals. When you buy from Goldmart, you are ensured that all of your transactions are 100% safe and secure with our proprietary security technology.
Goldmart Review: Things You Should Know Before Investing
What is Goldmart?
Goldmart is an online company that sells gold. Nicholas VanderLaan founded it in 2009 after he played basketball for the NBA.
In 2011, the company changed its name from Legacy Precious Metals to Goldmart. The change was because there were a lot of people who needed gold, and the website is called Goldmart.com.
Goldmart has all the things a coin shop would have, but the prices are 3%-4% cheaper.
Goldmart is a company that is based in Nevada.
About the Management
Nicholas VanderLaan is the President and Founder of Goldmart.com. He was a professional basketball player before that, but now he does something different. Nicholas VanderLaan started Legacy Precious Metals, Inc., which sells precious metals to other companies. 2011 was when he started the business, and he did it by opening Goldmart.com. He is the person who answers questions from customers, and he manages the website.
Is Goldmart Legit?
Let’s discover if it is legit or a scam. The website for Goldmart is not working right now. But it’s not a scam because the reviews are good, and its ratings are also good.
This is not a fake company. It has real products and services. It also has its own headquarters. There are no complaints about it being a scam, so this is legit.
When buying metals like gold and silver, it is better to deal with companies that have a good reputation and service.
It is also great that you can order online since the company can reach more clients. The only downside to it is how it lacks ratings and reviews. Moreover, it does not provide its own IRA services.
Goldmart Costs and Fees
There are many different fees for IRA services. It depends on which one you choose.
Some companies do not show the prices of each product on their website. They do this to be competitive, so it can be hard to know if they are expensive or not.
Goldmart Products and Services
Goldmart has many gold, silver, platinum, and palladium products. They come in coins and bars.
Gold is important. Goldmart will show you how to choose an IRA custodian. There are four of them:
- Sterling Trust Company
- New Direction IRA
- Self-Directed IRA Services
- Goldstar Trust Company
Unfortunately, the website is not working.
However, it is an online seller, so you can order online. This means that the website has a complete catalog of products.
Opening a Gold IRA
It is easy to open an IRA with Goldmart. There are six steps you need to take.
Contact an IRA Facilitator
These companies help you start an account. Goldmart works with four companies: Goldstar Trust Company, New Direction IRA, Self Directed IRA Services, and the Sterling Trust Company.
Fund the Account
Now that you have unfolded the account, you need to begin contributing to it. If you already own an IRa, 401K, or the retirement fund somewhere, you can affect rollover or transfer into this new account. Once the funds have come up, they will be immediately available to purchase gold bullion.
Purchase Gold fou Your IRA
Contact the company over the phone. You can place your set on a screen and then talk to someone on the other end. The order won’t happen right away; first, your facilitator will ask you for a form to fill out. You need to sign and fax this form along with the order confirmation to the company that you chose.
A facilitator will give money to Goldmart, and then Goldmart will ship that money in the form of gold or silver to a safe in your name.
Now, your money will remain in a storage place until you reach retirement. After that, it will be sent to you from the law.
Pros and Cons
- Wide variety of products
- Can order online
- Website is down or under maintenance
- Poor ratings
- Lacks reviews
- Not BBB accredited
Goldmart Ratings and Complaints
There are only three websites that have ratings and reviews of Goldmart. Here they are:
- BBB – 1/5 rating and not BBB accredited with two reviews
- Yelp – 2.5/5 rating with ten reviews
- Resellerratings – 4.67/5 rating with 632 reviews
These ratings and reviews are not good. There are many further companies that have better ratings and reviews.
Augusta Precious Metals
Augusta Precious Metals is a group of people who are really smart. Anyone can ask them what they want to know about gold, silver, and other metals. They will answer in a way that makes someone understand it. Although customers may buy non-IRA gold and silver, the company focuses on Gold IRAs. This is different from other precious metals IRA providers who just offer precious metals IRAs as one of many alternatives.
There are many useful materials at low prices that you can get for free. It is quick and easy. Some people like this field because of the repeat business they get. This company is honest and tells customers about their ratings on popular sites. They also show what people say about them.
American Hartford Gold
The American Hartford Gold Group is a company that has two leaders: Scott Gerlis and Sanford Mann.
This company is based in Los Angeles. It was established in 2015, and it helps people to diversify their portfolios by investing in gold, silver, platinum, or palladium.
The company offers customers the tools they need to help them save money for retirement. The company has experts, customer service, a website, and publications that can help people save.
They sell a wide range of goods. They specialize in the sale of gold, silver, and platinum in the form of coins and bullion.
Goldco provides a lot of services to people in the area. Goldco follows all IRS requirements and also buys back your gold or lets you sell it on the market once you start using their distribution system.
This company does not provide custodian or storage services. But they work with other companies that do. So if you need a place to store your stuff, they can help you find it.
The company has been accepted as one of the fastest-growing businesses in its field because it has a lot of reasons that make it grow.
Goldco’s precious metals IRA is easy to open and only takes a few minutes. You can either conclude it online or over the phone. Once you’ve done it, you’ll need personal identifying information, such as your social security number. During the selection, they will give you a list of different precious metal IRAs that are open to you. If necessary, they should walk through the process step by step with you.
Goldmart is a legitimate company that offers authentic products and services. Furthermore, it has its own headquarters, and there are no allegations or red flags about it being a fraud. However, when buying precious metals, it is generally advisable to deal with firms that have a good name and provide excellent services.