Gold Dealers: reviews & ratings of major gold dealers
Review of APMEX, Blanchard, Gainesville Coins, Kitco - gold and silver bullion dealersQuick Read (Full read: 3 minutes)
The easiest way to avoid problems is to buy well-known, standardized products, from established businesses with a provable reputation. Gold in Mind has reviewed five major American A-rated gold dealers: APMEX, Blanchard, Gainesville Coins, Kitco.
Today you can buy gold from a thousand places. Obviously, it would be impossible to review all the products and outlets. As with any area of business, there is always a small portion of shady characters and companies out there. The easiest way to avoid problems is to buy well-known, standardized products, from established businesses with a provable reputation. Therefore, Gold in Mind has only considered gold dealers with A rating by the Better Business Bureau for review.
So far, we have examined five gold dealers: APMEX, Blanchard, Gainesville Coins, Kitco and the United States Gold Bureau (last one now removed from the reviews due to revoked BBB rating, table below will be updated shortly). The following table compares the dealers' pricing for various types of purchases. Please note that the prices are not real-time, but a snapshot made on September 22, 2010, 8:09pm ET, and are subject to change depending on the spot gold price and the dealer's price policy.
Below, you can find the details and video presentations (if available) for each of the dealer.
Please note that the review of United States Gold Bureau has been withdrawn due to revoked BBB accreditation. Table will be updated shortly.
APMEX
(American Precious Metals Exchange)
Toll Free (US): 800-375-9006
A leading
online precious metals dealer, since 1999, based in Edmond, Oklahoma. APMEX
is particularly focused on keeping a lean operation which results in
low net prices of gold and silver bullion coins. However, shipping & handling cost consist of a base charge plus 3% of the subtotal, which makes shipping rather expensive compared to APMEX's competitors. Based on
the A+ rating by Better Business Bureau, the service provided seems to
be excellent. Orders over $25,000 are shipped for free and bulk discounts apply for orders over 20 ounces. You can also pay with your credit card (which is very much appreciated as the author earns frequent flier miles with his credit card purchases).
Credentials: Better Business Bureau (BBB)
Accredited Business, A+ rating (as of June 2010)
IRA assistance
provided: yes
APMEX
Blanchard
www.blanchardonline.com
Toll
Free (US): 800-880-4653
A major precious metals dealer, since 1975,
based in New Orleans, Louisiana. We particularly like the fact that
the gold purchased can be sent (free of charge) directly to a safe
deposit box located in the Security Center vault in downtown New
Orleans. The rental cost for the box is $119 per year. Discounts apply to orders over 25 ounces and shipping is free for orders over 50 ounces.
Credentials: Better Business Bureau (BBB) Accredited
Business, A+ rating (as of June 2010)
IRA assistance provided: yes
Blanchard
Gainesville Coins
www.gainesvillecoins.com
Tel (US): 813-482-9300
Precious metals dealer, since 2000, based in Lutz, Florida. Low prices and low shipping fees put Gainesville Coins among the price leaders in the gold coins market. Orders below $2,000 have to be purchased with a credit card (wire transfer is available as payment option above this sum), which slightly increases the cost of these smaller orders.
Credentials: Better Business Bureau (BBB) Accredited
Business, A+ rating (as of June 2010)
IRA assistance provided: yes
Gainesville Coins
GovMint.com
GovMint.com operated by First Federal Coin, BBB Accredited Business since 2003, BBB Rating: A
To be reviewed shortly.
Promotion: Free Shipping for orders over $150 at GovMint.com (savings reflected at checkout)
Kitco
online.kitco.com
Visit Kitco News video channel
Toll
Free (US): 877-775-4826
Toll Free (Canada): 800-363-7053
A major precious
metals dealer since 1977, based in Montreal, Canada, offering full
service for the U.S. out of New York State. Alternatively to physical delivery, Kitco can hold your metals in a pool account free of charge or arrange for the storage of your coins and bars with a bank or trust company.
Credentials: Better Business Bureau (BBB) A- rating (as
of June 2010)
IRA assistance provided: yes
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