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Many individuals choose to purchase precious metals for several reasons, and they can get more out of their investments with the security the metals offer.
Gold, silver, and platinum diversify portfolios, offering investors inflation protection and capital growth.
The metals provide a stable choice over stocks and bonds, and investors can avoid severe losses by making at least five percent of their portfolio of precious metals.
Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?
That is why we have researched every company in the industry and selected the very few with the highest customer service standards.
This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.
Read the list to see if Gold Republic Review passed our strict customer service standards to become one of our top recommendations.
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About Gold Republic Review
Finding the right company to meet their needs is a challenge for some consumers, and they need more information to decide where to buy their metals.
Gold Republic sells precious metals to individuals and investors who want to get more out of their ventures. Read on to learn more about the company and its offerings.
Company History and Ratings
Gold Republic opened in 2010 and is headquartered in Amsterdam, and the business gained its license from the Dutch Authority of Financial Markets to sell gold and other metals to consumers.
As of 2023, the company has a 4.7-star rating on TrustPilot, with eight negative customer reviews. Gold Republic offers many services via its website for customers and anyone wanting to start investing today.
How to Buy Gold, Silver, or Platinum from Gold Republic
Gold Republic customers can order gold, silver, or platinum by visiting the appropriate tab on the website’s navigation bar. They must register for an account and review the products through a user account. All investors are required to commit to at least a 50 Euro purchase to buy any metals from the company.
Although the company’s website doesn’t specify its products for outsiders, customers can see all the products by signing into their user account once Gold Republic has created and accepted the account.
They sell bars, coins, and bullion in gold, silver, and platinum. After signing in, the customer can set up and place their order according to how much they want to spend and the quantity of the metals.
They can store their metals in a vault at the Amsterdam location or choose from vaults in Zurich or Frankfurt. However, since these metals aren’t related to a retirement account, customers can choose where to store them, including their homes.
However, if they are outside of the Netherlands, they may pay some customs services and processing fees. Customers who want to buy $500,000 or more in precious metals cannot complete their transactions through the website. They must call a customer service representative to handle their order.
Does Gold Republic Have a Buyback Program?
Yes, Gold Republic has a guaranteed buyback program for its customers. However, they do not purchase metals that were bought from other gold dealers.
To start the buyback, the customer signs into their account and selects the metals they want to include in the buyback. Gold Republic provides a quote for the metals based on their condition when purchased.
A customer service representative provides detailed information about shipping the metals from the depository to the company.
Once they receive the metals, a payment is sent to the customer according to the agreed-upon price. Gold Republic’s buyback guarantee doesn’t apply to any precious metals shipped to the customer’s location. They only buy metals stored in their vaults or an approved depository.
Does Gold Republic Offer a Self-Directed Gold IRA?
No, Gold Republic does not provide an IRA opportunity as of 2023. Investors outside of the Netherlands should discuss the opportunity with a custodian who has approval from their local tax authority. For the US, the investors need a custodian with IRS credentials and an understanding of purchasing gold, silver, or platinum outside the US.
A custodian can determine if a precious metals purchase from the Netherlands qualifies for a retirement fund in the US. US customers would need to contact a customer service representative to discuss storage for the metals since the company only provides storage in the Netherlands and Switzerland.
The Gold Republic Gold Savings Program
Under the “Savings” tab, customers find information about Gold Republic’s gold savings plan. Through the program, they can set up monthly purchases to save for the future. There is a 0.5 percent transaction fee each month for all account owners.
However, they can set up the purchases on their schedule and determine how much of each metal they want to add to their account. The savings account is not the same as an individual retirement account, and there aren’t limitations on how much the customer can add to their account monthly or annually.
For the savings accounts, customers must store the related metals at the company’s depository, and they cannot have these metals delivered to their homes. The purpose is to save the metals for an extended time to generate a return and to incur interest through the savings account.
However, customers can cancel their monthly purchases anytime and close the account whenever they want. The savings program is a great way to purchase and save metals for later life events or to build wealth for the owner’s family.
The Business-to-Business Opportunity
Under the Business-to-Business link at the bottom of the website, there are details about their trading platform that allows financial institutions to trade precious metals. Asset managers can use the platform to provide precious metal products to their clients. Gold Republic has a multi-account trading platform for these managers to access customer information and manage their accounts.
The commercial advantages of these opportunities are that Gold Republic provides an enhanced platform and easy access for users to expand their market, acquire assets with recurring revenue bases, and provide physical metals as a business while retaining their liquidity.
Operational advantages of the platform start with easier integration onto their workstations, compatibility with most technology and operating systems, Automated storage, transportation, and logistics for the metals they sell, and the opportunity to add their preferred depository location. Gold Republic reports its holdings for them and offers white-label solutions.
The integration offers a plug-and-play design which means almost zero downtime when setting it up, and the businesses can trade on a 24-hour basis. By participating in the B2B opportunity, the company gains its license with the Dutch Authority for the Financial Markets.
The Pros and Cons of Gold Republic
The company enables investors to set up and manage their precious metals portfolio online through their website. Any account holder can sell their metals or set up a withdrawal whenever they completely own their metals.
Buying metals through Gold Republic is straightforward; customers can register their accounts anytime. Secured transport services manage all shipments from Gold Republic if the customer stores their metals in a vault.
However, home shipments are sent via mail. All precious metals stored inside their vaults are insured, and the company manages insurance claims for any issues at the depository, including theft. The company has a buyback program and offers competitive prices according to the current market prices. Gold Republic doesn’t require customers to choose their depository.
The only disadvantages are that the buyback program is limited to precious metals that the company can access through its depository, and the company does not provide any options for creating an individual retirement plan. Visitors viewing the website cannot view the products they offer until after registering for an account.
The News Tab
Under the “News” tab, visitors find the latest news about investing and details about buying metals. The company posts many articles on its website to help first-time and seasoned investors make better investment decisions. They can check the section to learn more about investment trends, market prices, and opportunities to generate wealth.
Anyone wanting to get started with these metals and determine how to build wealth for their golden years or to leave behind a nest egg for their heirs can find a wealth of information in this section. There is also an archives link through this tab that allows visitors to review all previous posts that once appeared in the “News” section of the website.
The Shop Tab
Under the “Shop” tab, visitors can find apparel and other items with the company’s logo. They can set up online purchases for these items, and the company accepts returns if the customer hasn’t worn the items. Customers can check this section for new releases and gift ideas.
The Risks Tab
Under the “Risks” tab, visitors can find information about risks that apply to investing in precious metals with the company. These sections include price risks, exchange rate risks, trading interruptions, and operational risks. Many topics discuss how to protect against identity theft and the company’s policy for safeguarding customers online. There are also sections on laws and regulations about buying or selling precious metals with Gold Republic.
The Audit Tab
Under the “Audit” tab, customers with a user account can download and view all the most recent audits conducted for Gold Republic and their depository providing Brinks. These documents are helpful for investors who need detailed information about the services and to determine if their vault and storage services remain secure.
The Price Tab
Under the “Prices” tab, customers can review the current gold, silver, and platinum prices. Visitors can check the market prices and compare them to a price quote they received from a customer service representative. Gold Republic’s fees for services appear under “Our Fees,” linked to the “Prices” tab. These fees are based on purchasing and storing metals in their Netherlands and Switzerland vaults.
According to the “Our Fees” link, there is a one percent transaction fee when buying gold, silver, or platinum. There is another one percent fee to sell precious metals through the buyback. Storage fees are 0.5 percent for gold and one percent for silver or platinum. There aren’t any handling fees on the website for gold, but the fee is $12 per kilogram for silver and platinum.
The Company Newsletter
The website has various places, including the bottom of the main screen, where customers can sign up for the company newsletter. The newsletter details upcoming events, sales, and new precious metals arrivals.
By signing up for the newsletter, the customer is opting to receive marketing materials, and they could get discounts on their subsequent precious metals purchases.
Gold Republic will send special offers based on how often the customer purchases metals, and when available, the company provides a first-purchase discount. Checking the website for updates helps new customers determine when the discount is available.
The Contact Tab
Under the “Contact” tab, customers find a web form used to request information or services from Gold Republic. Out to the right of the webform, they’ll find a phone number, mailing address, and bank details for Gold Republic. If visitors have questions or concerns, they can use these options to determine what to do next.
Gold Republic can provide several services for investors and individuals who want to save for the future. Unfortunately, none of these opportunities includes an individual retirement plan funded by precious metals.
However, a savings account opportunity lets investors start at a modest payment amount and build wealth through the account. While it isn’t the same as an IRA, it could help someone who isn’t looking to invest thousands of dollars upfront to get started.
The company’s buyback guarantee applies to metals that they store only, and these opportunities do not include any clients that want to store their precious metals at home. Gold Republic offers some transparency via its audits and updates the information often. There are some educational options like their “News” tab, where investors can stay informed about ways to invest and opportunities on the rise.
When examining the company, it seems legitimate and has been operating for several years. However, anyone who wants to invest outside of the Netherlands may want to compare the company to other local choices before registering and committing to a minimum 50 Euro purchase.
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