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Colorado Gold Review: Pros, Cons, All the Details

You are likely here because you have heard about investing in precious metals and are interested in Colorado Gold. You want to know how they rate in the precious metals industry. Are they a trustworthy or legit?

What Should You Know About Colorado Gold?

Colorado gold is a company that buys and sells precious metals. They were founded in 1977 by Don Stott and are based in Montrose, Colorado.

Keeping it in the Family

This family-owned business helps people purchase precious metals for their IRAs. Although Don Stott retired in 2015, he continues to be the driving force behind the company. His continued commitment to his customers has helped to bring the company's Better Business Bureau rating to an A+.

With over 40 years of experience, this company focuses on helping customers understand the importance of diversifying their investment portfolios. Purchasing precious metals helps you hedge against inflation.

Has Colorado Gold had Any Complaints? Red Flags?

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bbb colorado gold review

As we begin this Colorado Gold review, we are going to get right to the nitty gritty. Although you want to know more about the company, one of your first concerns is likely whether this company has any major customer complaints. Are there red flags of which you should be aware?

If this is your top concern, you are on the right track. After all, you do not want to risk putting your investment in the wrong hands, even if they are a family-owned business.

First of all, Colorado Gold is a reputable company. They have an A+ rating on the Better Business Bureau and no complaints in the last three years. That fact alone is highly unusual for a company.

The company's rating on the Business Consumer Alliance does not show any reviews, nor does TrustPilot. For some, this could be concerning, but it could also be a good thing because there are no complaints.

The main problem with a lack of reviews is that you cannot establish the company's reputation entirely. In this gold review, we like to be thorough. We will continue investigating this company and will provide you with every fact we learn.

Who Manages Colorado Gold?

Don Stott ran the company for over 40 years. Now that he is retired, the company's management team is built upon industry experts.

Don has yet to leave the business entirely, writing a weekly blog for the company that can be found in their newsletter. Melissa and Morgen, Don's daughters, continue to run the business with his son David.

Is Colorado Gold Trustworthy?

We often see scammers in new companies selling precious metals. Since the company has been around for over 40 years, it is unlikely they are a scam. Scammers cannot earn an A+ rating on the BBB.

Although you should not go on the BBB rating alone, there are no major concerns we found in our research. It appears that Colorado Gold is a truly trustworthy company. Continue reading this gold review to learn more.

What Precious Metals Services Does This Family-Owned Business Offer?

Colorado Gold is committed to providing its customers with the widest selection of gold, silver, platinum coins, and palladium products, including bars. The company also helps its customers with their precious metals IRA. They promise to guide you through the process of investing in precious metals IRAs to make it as simple as possible.

Colorado Gold Products

In this Colorado Gold review, we offer full transparency. We want you to know all the important details. Just remember that Colorado Gold is not an IRA custodian, and you will need to choose your own IRA custodian to manage your IRA.

Colorado Gold offers a range of IRS-approved precious metal products. They help you add precious metals to your IRA through your custodian and will ship them to your chosen IRA-approved depository. The following are just a few of the products the company offers:

You can buy a range of physical metals. If you check out the company website, it is clear that many satisfied customers trust Colorado Gold for their gold/silver purchases.

What Makes Colorado Gold Stand Out From the Rest?

Many companies are listed in the gold investment industry, so why should you consider Colorado Gold? One of the things that makes them stand out from the rest is the level of experience they have. Not many companies in the gold industry have been around for so long.

They also offer a generous buyback program. Colorado Gold provides its customers with fair service fees. We will talk about the different fees below.

Colorado Gold Fees

The fees for Colorado Gold vary. The following offers information on some of the different fees so you can better understand what to expect from the company:

How to Purchase Precious Metals From Colorado Gold

After researching many gold companies, we can honestly say that Colorado Gold makes the process of purchasing precious metals as simple as possible. Before purchasing, you must submit a Client Agreement.

It is important to note that this is a legally binding contract. Some people are unhappy with this fact and choose to go with another company. The choice is yours, but the following outlines what is contained in the Client Agreement:

Colorado Gold Payment Methods

The company has several payment methods when buying rare coins and precious metals. For small purchases, the company accepts Venmo. There are also other payment methods, such as the following:

Just know that it can take up to seven days for your order to be funded, regardless of your payment method.

Unfortunately, the company does not accept debit and credit cards. In some cases, the company will require you to transfer your funds before they confirm your order. Colorado Gold is more likely to require prepayment if you have a history of payment default or are purchasing a large order.

How to Sell Precious Metals to Colorado Gold

If you decide to liquidate your precious metal, such as coins and bars, Colorado Gold will buy them, even if they did not sell them to you. You will be charged a $25 fee if you sell your gold.

If you did not buy your bullion bars from Colorado Gold, they would charge a 1% fee and a $50 wire transfer. Just like when you buy, you must also fill out a customer agreement when selling.

It is important to note that you are responsible for the insurance, shipping, and transportation of your precious metals. They will accept all precious metals with hallmarks.

Once you get your trade number, the order price is locked in. Even if your metals increase in value, the company will not pay you more.

You should also know that if you are a new customer, the company may ask you to show your metals first so they can determine if they are a good investment. Please note that if your metals are shipped in poor condition, they may be refused, or the price may be reduced.

Colorado Gold Deals and Promotions

If you visit the company’s precious metal website, you will find a section for special deals. These special deals change frequently. The deals will depend on the company's inventory. If you see a deal, you better grab it right away because it could go fast.

Storage Options for Colorado Gold

Unlike some sellers, Colorado Gold is not partnered with any particular IRA-approved custodian or depository. You must research the options and determine which one will be best. The following are some trusted depositories/custodians:

Some investors will not work with this family-operated company because they do not have relationships with depositories. If you are new to precious metals investment, you may find choosing a depository and custodian challenging when purchasing gold for your gold IRA.

Colorado Gold Pros & Cons

In this Colorado Gold review, we want to offer accurate and reliable information. We have already told you what we found on third-party sites, such as the Business Consumer Alliance, regarding the company's rating. The following are some of the pros and cons of Colorado Gold so you can decide if this company is worth your time.

Pros

Cons

Information on Investing in a Precious Metals IRA

As a part of our Colorado Gold review, you need to know what to expect from a precious metals IRA. Although they are not a custodian themselves, they can work with your custodian to help you invest in a variety of IRS-approved gold, silver, palladium, and platinum.

You can begin investing in precious metals as soon as you have opened your IRA. If you have an existing IRA, the process will be even faster. Once your precious metals IRA is funded, you can begin purchasing from Colorado Gold.

People invest in IRAs because they offer tax advantages. Before you begin buying precious metals, make sure you choose a custodian to represent you.

FAQ About Colorado Gold

We have tried to be as thorough as possible in this review. As a new investor, you may have a lot more questions. The following are some of the top questions investors have about this company:

Colorado Gold is a good company, with some drawbacks. Many people will want to purchase gold from a company that offers custodianship and has relationships with depositories, which this company does not.

You must be aware of the IRS rules for purchasing precious metals. These rules will guide you in purchasing IRS-approved gold:

  • Gold must have a purity of 99.5%.
  • Silver must have a purity of 99.95%.
  • A third party must store your investments.

The company offers a generous buyback program. Even if you did not purchase your gold from Colorado Gold, they would purchase your hallmark precious metals. Remember that they will charge you fees for their buyback program, and the rules above apply.

Final Thoughts on Colorado Gold

This concludes our Colorado Gold review. We hope it has offered insight into the company so you can make an educated decision. While the company is trustworthy and completely legit, we feel better companies are out there.

You will have to weigh their offers, and the company charges to determine if this company is right for you. Colorado Gold is not a free service. Although their fees appear fair, there may be better options for company charges.