Colorado Gold Review: Pros, Cons, Is It Legit?

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Last Updated: May 17, 2024

Have you been considering investing in precious metals? A precious metals IRA can give you tax advantages and allow you to hedge against inflation.

If you plan on investing in precious metals, you will need a trusted dealer in the precious metals industry. Could Colorado Gold be that company?

We will provide you with the extensive information you need in this Colorado Gold review. Though we urge you to conduct further research, we hope to give the facts you need to know if this family-owned business suits your gold, silver, platinum, and palladium investment needs.

We will discuss the fee structure, products, and customers' opinions. We will also provide you with information on the company's management team. Read until the end to learn our final thoughts on this gold review.

What Kind of Company Is Colorado Gold?

Colorado Gold is a gold dealer offering a range of precious metals, including bullion bars, gold and silver coins, and special deals. They do not provide rare coins because these usually lack value and are not allowed in a gold IRA.

Colorado Gold opened its doors in 1977 and is one of the oldest metals businesses in the industry. The company is headquartered in Montrose, CO, and has offices in New York and Wisconsin.

Colorado Gold is a gold IRA company seeking to help people invest in precious metals IRAs. Their website offers precious metals, including platinum coins, silver coins, and other precious metal options.

They sometimes offer special packages with palladium, but this is not a precious metal regularly provided on their website. Colorado Gold partners with a few of the best custodians in the industry.

These third-party sites help ensure Colorado Gold's customers have the IRA custodian services they need to protect their retirement savings.

Some gold companies only have a few partners, giving customers few choices for storage when they buy precious metals. It is essential to note the fees vary with custodians.

Who Operates Colorado Gold?

The company was founded by Don Stott in 1977. Don is still active in the business and operates it with his three children: David, Morgen, and Mellissa.

They are a small company, so you will not find rare coins or paper money here on their website.

Each of the children works in a different area of the United States, ensuring customers receive the prompt service they need. Who you reach will vary, depending on the time of day.

They will offer you the prices of your investment options and answer your questions about investing in gold.

Don Stott is an expert in the precious metal industry and works to educate the public about purchasing precious metals via regular blog posts. They appear to be a trustworthy and quality business, though there is much more yet to uncover.

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What Precious Metals Do They Offer?

They sell precious metals like gold, silver, platinum, and palladium coins and bars, though palladium is not always available. They offer a wide selection of precious metals, with many approved for precious metals IRA.

The following are some popular selections of precious metals available from this family-owned business. The selection is based on availability and changes often.

What Do Customer Reviews Say?

One of the first places we always check is the Better Business Bureau because we trust their rating system. Colorado Gold has been accredited with the BBB since 2010. They currently have a 5-star customer rating, with only one review.

There have been no complaints filed on the Better Business Bureau website. Although it is encouraging to see such a good rating and no complaints, we are concerned a business has been operating for over 45 years and has so few reviews. The company has an A+ rating.

We also checked with Business Consumer Alliance to see how they rated. We could not find a profile for Colorado Gold, and they did not have a Trustpilot review.

Although a lack of reviews may not be a source of concern, we have to wonder why a company that has been in business so long would not have many glowing customer reviews.

Have There Been Any Complaints?

Just as we could find no reviews on the company, we could not find any complaints. We believe Colorado Gold is a credible business. We would like to read reviews from satisfied customers. We will continue searching for accurate information and update when it becomes available.

Is Colorado Gold a Scam?

Colorado Gold is not a scam. They have been in operation too long to be a scam. After 45 years, there is no way a company could continue to scam people and not be shut down. Investors can purchase gold and silver coins by phone through this company.

They are selling a vast inventory of gold, silver, platinum, and palladium for investors wanting to diversify their portfolios. They promise excellent customer service, and since we cannot find any complaints or scandals, we will have to believe them for now.

Pros & Cons of Colorado Gold

You will not find any companies with perfect records. Read any weekly column, and you will find the pros and cons of every gold investment company. Although every business has pros and cons, we hope to see more pros than cons when selecting companies to help us invest in precious metals.

Colorado Gold Pros

Disadvantages

Services Offered By Colorado Gold

The primary service offered by Colorado Gold is selling precious metals. They help people invest in precious metals for their private collections or through IRA.

It is important to note that Colorado Gold is NOT a gold IRA custodian. The following are some of the gold IRA custodians Colorado Gold works with.

You can select a single custodian and ship your gold to your chosen depository. You can also have your metals shipped to your home if you invest outside of a gold IRA.

Fees Charged for Buying or Selling Precious Metals

While fees are subject to change, these are those available at the time of this writing. Check with the company before investing or purchasing gold to ensure you have the most accurate fee information.

How to Buy on Colorado Gold

You must complete the client agreement before buying or selling to the company. It is important to remember that this document is legally binding and not one to be entered into lightly. You will find the following in the client agreement.

You can view Colorado Gold's inventory and prices online, but you cannot purchase. You will need to call and talk to one of the company representatives to place your order.

Once you place the order, you will receive a trade number. Once you receive your trade number in your account, Colorado Gold will ship your order of investments.

How to Sell on Colorado Gold

The company offers a buyback program for metals it has sold to customers. They will also buy your metals, even if you did not purchase from them.

Remember, there is a $25 charge and a 1% commission fee when the company buys metals they did not send you.

You must complete the customer agreement before they buy your metals. Contact Colorado Gold about their buyback policy. You are responsible for paying for the shipment and insurance.

Colorado Gold accepts gold, silver, platinum, palladium, and more with accepted hallmarks. The price becomes locked once you receive your trade number, and you must ship your sold items to Colorado Gold within two days.

You must be prepared to show the metals before they buy, especially if you are a new customer. They will want to inspect the metals before offering you a final price.

Precious Metals IRA

Once again, they do not offer IRA custodian services but work with some top custodians, including Strata.

You may find it easier to work with a gold investment company that offers IRA custodianship if you are new to investing your money in gold.

Colorado Gold Precious Metals Storage

You cannot store metals at home if you buy them for your gold IRA. The IRS requires you to keep them in an approved depository.

Unfortunately, this business does not partner with depositories, so you will be responsible for shipping them to your chosen storage option.

Does Colorado Gold Offer Promotions?

We could not find any promotions for buying precious metals. Some gold companies offer promotions, including American Hartford Gold and Goldco.

We recommend investors carefully survey their options to find the best investment deals. Although they do not offer special promotions, they have a section called ‘Our Specials' that provides savings for gold investments.

FAQs About Colorado Gold

We know you may have questions about the company, even though we have tried to be thorough in our Colorado Gold review. Below, you will find our answers to our readers' top questions.

Colorado Gold is a legit company that has been around for over 45 years. This family-owned and operated company is trustworthy and can help you purchase great quality gold with a wire transfer.

Colorado Gold offers a buyback program for its customers. They will buy gold they have sold to you and will even buy precious metals they did not sell.

Colorado Gold's payment options are wire transfer, personal check, Venmo, and cashier's check.

You can transfer funds quickly to get introduced to your investment options, such as the American Eagle. The company charges a $50 wire transfer fee.

Our Final Thoughts on Colorado Gold: Can You Trust Them?

Once you open an account, you can easily buy from Colorado Gold. We want to help you protect your investment money and avoid being scammed, which is why we are so diligent in researching carefully.

Although Colorado Gold is a legitimate and trustworthy company, but we cannot recommend it to our readers because it lacks customer reviews. We feel there are much better options to help you diversify your portfolio.

While the fees are fair and the website is easy to use, we believe companies like American Hartford Gold, Goldco, and others can help you more with your investment options.

We recommend you research carefully and open an account with one of these top gold companies because they can help you understand your investment options and prepare for the future. 

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