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Colorado Gold Precious Metals Dealer - Legit or Not?
Legit and located across the United States, Colorado Gold is a family-owned and operated business with Don Stott starting the business in 1977 and three children David, Morgen, and Mellissa currently working the business day to day. With three siblings located across the U.S. you are able to get a representative in every time zone. Based out of Colorado, the business has operations in Wisconsin, Colorado, and New York.
Don still is active in the business adding his insights and knowledge through Blog articles that can be found on their website. Provides insights into the current economics, gold, and silver but also other important and interesting life lessons.
A July 11, 2022 blog post from Don talks about retail stores and dives into the cost of inventory and overhead. The reason Don talks about this topic is Colorado Gold does not have a storefront. Some would think that would be a negative, but Colorado Gold having no inventory and no storefront provide the family an opportunity to price precious metals at the market or below so they can pass on the savings to the customer.
As a small precious metals business, Colorado Gold does not work with rare coins or paper money. If you are interested in buying or selling these products you will need to look to your local coin dealers for service.
Who is Behind Colorado Gold?
Don is the father and original owner. Don started in the late 1970's working with the only products available to him which were Krugerrands from South Africa and the U.S. Gold $20 coin which was a double eagle at .9675 oz of gold. Contrary to today's Maple Leaf which are 1.09 ounces having 1oz Gold and .09oz of alloy.
David works in the mid west, Morgen is on the west coast, and Melissa works on the east coast.
The family is available based on their specific time zone between 8 am and 5 pm. Other than weekends and holidays you will get to speak with one of Don's children when you call.
What Selection of Precious Metals are Available?
When you contact Colorado Gold you have the option to purchase Gold Coins & Bars, Silver Coins & Bars, Platinum Coins & Bars, or Palladium Coins & Bars.
Having a good selection of coins is important to work with and Colorado Gold works as a distributor for the largest service A-Mark Precious Metals. Products are based on current availability at the time of the transaction.
Best Sellers List
- 2022 Gold Eagle
- 1oz Valcambi Gold Bar
- 2022 Silver Krugerrand
- 2022 Gold Britannia
- 1oz Asahi Gold Bar
- Backdated Silver Eagle Coins
- 1oz Valcambi Platinum Bar
- 2022 Silver Britannia
Gold and Silver Available - not all products noted - check website for availability
Gold & Silver Coins
Gold & Silver Bars
Other Precious Metals Available
- 2021 Platinum Lion of England
- 2022 Platinum Eagle
- Credit Suisse 1oz Platinum Bar
- Valcambi 1oz Platinum Bar
Does Colorado Gold Offer Any Other Services?
Colorado Gold's primary business involves the CASH purchase of Precious Metals. When you purchase from them you have the following options for payment:
- Personal Check
- Wire Transfer
- Cashier's Check
- Venmo (small orders)
You didn't mention Credit Card or Cryptocurrency. Nope, they do not offer these options currently for payment.
Colorado Gold will assist you in the purchase of Gold or Silver for your IRA. They will transact the purchase of the precious metals but they do not handle setting up the IRA or managing the transaction. You would need to have an IRA set up and have a depository for your storage of the precious metals.
Fees For Purchasing or Selling Precious Metals
According to the website, we found the following fees: Special note - consult the family for fees prior to any transaction to be sure you have the most accurate information.
- $25 fee to sell precious metals if not purchased from Colorado Gold originally
- 1% commission for transactions less than $50,000
- 0.75% commission for transactions between $50,000 and $100,000
- 0.50% commission for transactions over $100,000
- 1% Charge for buying products not originally purchased through Colorado Gold
- $50 wire transfer fee
- $25 service charge for orders not charged a commission
- 0.50% commission for family members selling other family members precious metals
- Buyer pays postage and mail insurance in some cases
Is Colorado Gold a Credible Business?
Yes, it appears based on our research that Colorado Gold is Credible. They don't work with rare coins and only those gold and silver coins and bars that are readily available.
For you working with a business that transacts known coins and bars makes for a safer transaction for you.
We've researched our typical resources to get you more customer transaction information. We typically look at Trustpilot, TrustLink, the BBB, and the Google Business Profile to get reviews and information for our readers.
3.7 out of 5 stars with 1 review ** the rating is confusing - there is only 1 review and it appears Jack Adams gave them a 5-star review. Check out the review below.
Copy of the TrustPilot Review:
Great place to buy your silver -I purchased 100 oz of silver coins from Colorado Gold. They came much more quickly than promised, great quality, and the best prices - in many cases by far - that I could find on the internet. My brother has done business with them several times, just once for me. Based on our experience, a trustworthy and quality business. A shout out to Melissa who was very helpful.
No TrustLink Review was Found
Better Business Bureau:
Colorado Gold is an Accredited Business with the BBB
A+ Accreditation Score
Accredited since 1/11/2010
0 Customer Reviews
0 Customer Complaints
Pros and Cons of Colorado Gold
Final Thoughts on Colorado Gold
When you are ready to buy precious metals Colorado Gold is a viable option. Investors need to consider the fees they charge and determined a final price for the acquisition or sale of the physical gold and compare that with other gold companies.
Providing a discount for the coins or bars may appear to be a good option and below market pricing, however, understanding the potential for fees that add up could take over the potential discount.
As an investor, do your due diligence to make informed decisions. Investing in precious metals is a good plan for every portfolio and is a long-term investment. If you are looking to hedge inflation gold is a viable option. Prices for gold are higher than that of silver so many choose to purchase silver vs. gold as physical assets. Not every investor is alike and having options and a variety of companies to work with allows an investor to feel comfortable in their transactions.