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Gold has been a trusted form of currency for generations. In modern society, it has evolved into a solid asset that can be used for investments toward retirement.
As a result, finding a reputable dealer for gold purchases has become a challenge for investors. Learn all about Global Bullion Suppliers today so that a purchase may be planned out in the future.
GBS is a bullion dealer based out of Toronto, Canada. When investors visit the website, they're greeted by a colorful homepage that features some of their top products. GBS is extremely proud to carry some of Canada's finest bullion, including the Canadian Gold Maple Leaf coins.
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Investors will find it reassuring that GBS is an authorized dealer of the Royal Canadian Mint. If this government entity works alongside GBS, it must be a legitimate company. Interested investors may want to verify this claim, however, if they're concerned about purchase issues.
Additionally, GBS lists other companies under its corporate umbrella, including Muzeum Gold & Silver, Great Canadian Roadshow, and Muzeum Dental Refining. Visitors are asked to click on these links to learn more. It appears that GBS covers several industry niches to diversify its business holdings.
Learning About Company History
GBS doesn't offer an "About Us" page on its website. For investors, this fact is an unusual scenario.
Nearly every business in any industry will have some information about the company's history or accolades. Investors may be wary about any gold dealer without this key page.
An online search brings up a Facebook page, Yahoo! Finance article, and Linkedin profile. GBS doesn't appear to be active on social media based on the spotty posts across their Facebook page. In today's virtual world, lack of communication on these platforms is a large concern. Investors want transparency when it comes to their investments.
The Yahoo! Finance article sheds some light on GBS's CEO named Max Smirnov. This information brings investors to the company's Linkedin page. They'll find a makeshift "About Us" page on this website.
GBS is a privately held company that was founded in 2013. It has fewer than 10 employees, but a few of them are featured on Linkedin. Curious investors might read about these workers to gain a better understanding of who runs GBS.
Overall, learning about GBS takes some research time out of the average investor's day. Adding a simple "About Us" page to the website could clear up any discrepancies.
Researching GBS Reviews
Investors should note that GBS isn't accredited or even rated by the Better Business Bureau.
Although it's a Canadian company, GBS can still be rated by this reputable company. As a result, investors must look at other online entities for some clarity regarding GBS's business practices.
Alternatively, investors might look at Trustpilot for their reviews. GBS has over 100 reviews here. They're largely positive with only a handful of negative experiences.
In fact, some reviews deal with technological issues through eBay or PayPal as opposed to GBS alone. Overall, GBS appears to have solid customer service.
Getting to Know GBS Staff
This company's staff isn't named on the website. They have basic communication pathways listed on the "Contact Us" page, such as an online form, phone number, email, or live chat option. This design isn't a red flag to investors, however.
Most companies don't name every employee on the "Contact Us" page. If investors pull up GBS's Linkedin page, they'll find several employees listed on the site. Presumably, these employees are some of the top-level people who represent the company.
These names include Justin Yampolsky as Managing Director, Shane Metcalfe as Business Development Manager, Derek Lee as Marketing Manager, and Max Smirnov as CEO. Investors are welcome to read their biographies here.
It appears that GBS uses Linkedin as its "About Us" page. There are several paragraphs devoted to the company's vision and clear links to the main employees' biographies. It might be helpful to investors to have this information on GBS's website too.
Diving Into Account Custodian and Depository Services
Investors who want to start a precious metals retirement account can do so with a custodian. This individual manages the account so that gold, silver, or platinum can be held in a government-approved facility called a depository.
In Canada, these retirement accounts are designated as either Tax-Free Savings Accounts or Registered Retirement Savings Plans. These accounts operate similarly to gold IRAs or Individual Retirement Accounts in the United States.
Investors work with the custodian to buy precious metals from GBS and ship it directly to the depository. The precious metals remain secured in the depository until they can be withdrawn in retirement.
Activating an Account
To start a precious metals retirement account, investors must open one with a custodian. This activated account must be funded before buying any precious metals too.
Most investors use a rollover from another retirement account to fund the new precious metals account. There are typically no tax implications with a rollover. The custodian can work with the investor's account administrator to facilitate this process.
With funds in the new account, investors select government-approved bullion for purchase. GBS can presumably ship the products to the investor's depository. Keep in mind that the precious metals cannot be physically possessed by the investor. They should be held in the depository for tax benefits.
Precious metals don't produce dividends like paper assets, however. Their value arises when they're liquidated in retirement. Gold and silver, for instance, tend to gain value over time. This value increases across the decades, which means that precious metals are best used as a long-term investment.
Knowing About GBS Products
GBS sells gold, silver, and platinum products, which include coins, rounds, and bars. They go even further by selling silver starter kits and various collectibles. Investors might appreciate the accessories section where they'll find display and storage products for their bullion.
Other investors might browse through the jewelry section. Fine gold necklaces are the draw here. Investors should note that some products are preowned, so read over the descriptions with care. However, it appears that all products are carefully cared for before being sold.
GBS also offers a unique service to its customers. They can refine precious metals for the consumer. GBS even lays out its refining process on the website for clarification. This service may not be needed by most investors, but it's an option to keep in mind for the future.
Discovering Retirement Account Products
Although GBS has plenty of unique products in its inventory, they do not indicate which items are appropriate for precious metals retirement accounts. Investors might note that GBS does carry the approved Canadian Gold Maple Leaf coins, however. They must buy them through their custodian to have them shipped to a proper storage facility.
Looking at GBS Buyback Policies
Investors are welcome to sell their precious metals back to GBS. Click on the "Sell to Us" tab for more information. They list their buyback prices, which is a helpful feature for investors. Many dealers don't add these values to their pages because of changing costs throughout the day.
In addition, investors have a choice of either mailing in their precious metals for evaluation or taking them into the Toronto showroom. They'll quote the customer in both cases before proceeding with the buyback process.
Analyzing Account Fees
GBS simply sells precious metals bullion, so there are no account fees quoted on the website. Investors who activate a retirement account will need to consult their custodian and a separate depository for those fees.
There are no minimum or maximum order amounts with GBS either, which is helpful for the average investor. They only suggest purchasing at least $250 of the product so that the shipping and insurance are free.
There is no sales tax on these items either. Products must be shipped within Canada, however. They cannot be shipped out to other countries at this time. In the future, GBS might amend this policy based on government law.
Finalizing the Financial Decision
GBS appears to be a legitimate company in the precious metals industry. It's dedicated to the Canadian community, which is solely beneficial to its citizens. Currently, GBS doesn't appear to ship any products outside of Canada. Investors should take note of this fact.
There are a few red flags about GBS that may turn investors off, including a lack of company history on the website and no real information about gold IRAs. Investors may want to find a company that has a more well-rounded set of services.
However, GBS does have strong ties to the Royal Canadian Mint. This fact alone may encourage investors to buy from GBS. This industry relationship is a highlight of GBS's business practices.
Ultimately, while we think Global Bullion Suppliers is an ok company, we think there are better options available for precious metals investors.
Investing in tangible assets is a legitimate way to diversify that portfolio. It simply takes some research to match the right dealer to the individual investor. In time, the assets can gain value with a solid return in retirement.
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