GoldBroker is one of the fastest growing bullion dealers in the world, but they operate a little differently to typical bullion sites. In this article we’ll take a look at their services, their website, their products and their prices, determining whether or not GoldBroker deserves the respect they get, and whether or not you should invest your money with them.
The GoldBroker website is comprehensive, and while it looks a little plain in places, there is a wealth of information hiding away, including a number of articles and a detailed glossary.
The website is still growing and they seem to be working a lot on content as we speak, so more and more is being added. The best of this can be found under the “Investing Guide”, where you can read a number of articles on gold/silver investment, counterfeits, gold markets, and more.
GoldBroker Products Review
GoldBroker are based in Malta, but they have offices around the world, including in New York and Toronto, and they also have vaults located in Singapore and Switzerland. These vaults are essential to their operation, because at GoldBroker the bullion you buy is not always shipped to your home, but can also be stored in one of their vaults. GoldBroker have high minimum orders to cover the costs of what is a very expensive process, while still ensuring that they can offer bullion at close to spot price. Because of this, they tend to be aimed at large-scale investors, people investing tens of thousands or even hundreds of thousands at a time.
GoldBroker charge a subscription fee to keep your gold or silver in their vaults, but with some of the best security in the world, as well as comprehensive insurance covering you against the worst case scenario, it’s worth it. When the time comes to profit from your investment, you can either arrange shipment from one of their vaults, or you can sell it directly from that vault, effectively profiting from your bullion without ever laying your hands or your eyes on it.
Other benefits to GoldBroker include:
- Visit: You can arrange to see your bullion in their vault.
- Outside Banking System: The vaults and the bullion within are stored outside of the central banking system, which means that the government cannot get their hands on it.
- Self-Delivery: You can save on delivery costs by arranging the transport, the time and the transit yourself.
At the point of purchase, you will be given the choice for “Storage”, “Personal Pickup” or “Delivery”, and you can also arrange for one of the latter two even if you have previously stored the bullion.
GoldBroker sell bulk gold and silver, focusing on popular bars and coins. These include legal tender coins such as the US Mint Buffalo, the silver Hawksbill Turtle and the Silver Kangaroo, as well as cast bars and minted bars, such as those produced by Valcambi, PAMP and the Royal Canadian Mint. All coins need to be bought in Monster Boxes (typically 500 coins, but sometimes less), while bars can be bought individually, providing they are of a substantial weight.
Conclusion on our Goldbroker review
GoldBroker is fantastic, but only if you fit into the demographic that they appeal to. Let’s be honest, most bullion collectors are buying small amounts, no more than a handful of ounces of silver or 1 or 2 ounces of gold at a time. Many small-time collectors may have over $10,000 worth of bullion in their possession, but it tends to be an investment that they have established over time, maybe even several years. These collectors will not have any interest in GoldBroker, and with minimum orders in the thousands, GoldBroker doesn’t have any interest in them either.
There are products that can be bought for around $2,000, including 1 kilo silver bars, and products that can be bought for around $4,000, including Monster Boxes of 250 coins. However, the onus is definitely on very big orders, and the average minimum order is above $5,000.