Perhaps you’ve heard of Goldline or listened to their commercials on your work commute. You know they’re a precious metals company, but you don’t know if they’re worth your time or if they charge fair prices.
We’ll teach you all about Goldline with this review, answering any burning questions you might have about this company.
Here's a short summary before we dive in.
Specialists in gold and silver
1.54 star rating on Better Business Bureau
1.7 out of 5 star rating on Google review
Who is Goldline International?
According to their website, Goldline started in 1960, and they’re based in Los Angeles. They’ve helped many people to invest in platinum, palladium, silver, and, of course, gold. They also have many precious metal coins and bars that are eligible for IRAs.
They also have an Express IRA® program. In just three steps, customers can start their own precious metals IRA. They also say they’ll offer no-cost coins for certain purchases as a way of reducing maintenance costs for the IRA. Also, they’ll cover the shipping costs to whichever depository you choose.
Also, Goldline will repurchase your precious metals, should you need to sell them. There are also three easy steps here, and after Goldine has received their metals, you should get your payment in no more than three business days. However, you can’t just offload any gold products on them, as they don’t buy every type of bar or coin.
Additionally, if you have a collector’s mindset, there are plenty of hard-to-find coins available with this firm.
We, unfortunately, couldn’t find any word on what kind of management team Goldline has. There is nothing on their website or any other site we could find that shows the founders or executives.
This is a bit concerning because you don't know exactly who you're dealing with.
Goldline has different precious metals. Some of their coins go back to the 19th century. They also have items you’d likely never find anywhere else. Their gold bars weigh one or 10 ounces or one kilogram.
The coins eligible for IRAs have cool designs. Since they are the sole dealer for certain coins, they have a really impressive collection of gold numismatic coins from Austria.
They also offer other metals like palladium, silver, and platinum.
Custodians and Storage
Goldline has relationships with two great custodians: Equity Trust Company and GoldStar Trust Company.
They also clearly care about security so much that they don’t say which vault business they work with. But they do show that the companies are located in Zurich, Singapore, and Las Vegas.
Goldline’s site has a lot of helpful information. Their primary purpose is to show why people should invest in precious metals. They also talk about pretty in-depth topics, such as inflation and dollar devaluation history.
This is great to read if you’re new to precious metals. If you’ve invested before, we still recommend reading this, as it can teach you things you might’ve only known a bit of, if at all.
In contrast to other precious metals dealers, they do a decent job with general education. A few companies out there go the extra mile, but Goldline holds its own in this department.
Since Goldline offers more, it makes sense that they charge more. They have a “Price Guarantee Program” regarding temporary changes as well as a “Client Concierge” which answers customer questions. They also offer delivery and storing options.
You’ll receive charges for fees, commissions, and a spread. Crunch these numbers before you make your order. Since gold is such a high-price product, you need to be diligent with your buying decisions.
Goldline Complaints and Lawsuit Issues
Their website is put together well and they have a lot of helpful information, but in our opinion, what really matters the most is how their customers are treated and what their experiences are like working with them.
Unfortunately for Goldline, their customer reviews aren't very good. On Better Business Bureau they have a 1.54 out of 5 star rating. Similarly on Google, they have a 1.7 out of 5 star rating as of this writing.
This is really bad considering other gold companies have thousands of 5 star reviews. I can't think of any service where I would decide to work with a company who had such bad reviews.
Here are some of their most recent customer reviews.
We understand that no company is perfect and that there will always be customers who aren't happy, but the consistency in some of these reviews is a major red flag.
In 2012, a Goldline lawsuit verdict ended with the company being ordered to pay back millions of dollars to customers. That was the settlement so the criminal fraud charges were dropped.
Although that was over 8 years ago, it is never a good sign when lawsuits are involved. And who knows if the same people involved with the lawsuit are still operating the company today.
Should You Invest or Try Other Alternatives?
We would tread with heavy caution if looking to invest with Goldline. Their legal troubles combined with terrible customer reviews are enough for us to find another alternative.
Many other similar companies exist, and they offer the same type of products but with far fewer fees and much better reviews. We would definitely urge you to check them out before you commit. You'll see the contrast and where these companies shine in places where Goldline falters.
We aren't saying this firm is a scam or an illegitimate company, all we're saying is that even though some customers have given good reviews for them, there are much better alternatives out there.
These 3 companies below are the best of the best according to customers. Each one of them has hundreds of 5 star reviews and between a 4.7 - 4.9 star rating across review sites.
Goldco itself has over 1500 5 star reviews and an incredible reputation, being endorsed by celebrities like Chuck Norris!
Hopefully, you enjoyed our review and got a better sense of what a precious metals company does. Please let us know if you’ve worked with Goldline before and what it was like.
If there are any additional questions, please get in touch. We’ll get back to you as soon as we can.