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      September 29, 2020

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Golden State Mint vs Bullion Vault

Best Gold Buying Companies

To help you find the Best Places to Buy Gold, TopConsumerReviews.com provides you with an in-depth comparison of Golden State Mint and Bullion Vault.

To see ALL of our reviews for the Best Places to Buy Gold, please Click Here

Where is the best place to buy gold? There are many places that money can be moved around to work for an individual. Some choose to invest in the stock market, some choose to buy land and property, while others choose to simply let it sit in a savings account. Another interesting alternative to these methods is purchasing gold. This may be in the form of jewelry, coins, gold bars, or paper gold.

Buying gold makes a lot of sense for a few reasons. The first is that gold has been respected throughout the entire world for hundreds of years. It is considered precious and valuable across cultures because it has maintained its worth throughout time. Gold does not corrode and can easily be melted down into other forms for easy storage and trading. Gold is also considered a beautiful metal because of its unique color and ability to absorb light.

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2020

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3 stars
Golden State Mint

GOLDEN STATE MINT

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BBB Rating:

A+

Located in Central Florida, Golden State Mint has been in the precious metals business for over 45 years. They are a family run operation. They boast that they have the shortest lead times in the industry and always meet or beat their guaranteed delivery times. Golden State Mint has affiliations with established institutions such as the International Precious Metals Institute, Token and Medal Society, North American Collectibles Association, Inc., National Rifle Association, Certified Coin Exchange, and others. For a full list, you can visit their "About Us" page to learn more.

Specialize in minting of metals

Golden State Mint specializes in the minting of copper, silver, and gold. In addition to this, they sell platinum and palladium as well as unique collections including buffalo, Chinese zodiac, cryptocurrency, holidays, Incuse Indians, and many more.

10+ gold categories

The gold buying category at Golden State Mint lists the following options:

  • Gold Bars
  • Gold Coins
  • Gold Rounds
  • Fractional Gold
  • 1 oz Gold
  • 2 oz Gold
  • 5 oz Gold
  • 10 oz Gold
  • Kilo Gold
  • Assorted Weight Gold
  • IRA Certified Gold

Some gold categories empty

Unfortunately, although all these categories are listed, they don't all have an inventory to choose from. Some have zero results, while others have just a couple. If you come to Golden State Mint knowing exactly what you're looking for, we recommend using their search feature to skip some of the browsing in case it ends up being a waste of time.

Gold containers

Aside from just buying precious metals, if you want to preserve the coins or gold bars you purchase, there are quite a few options at Golden State Mint. For just a few dollars each, you can find coin tubes, velvet gift bags, airtight coin capsules, bar capsules, display boxes, and tubes. All of them come in a variety of sizes to fit the collection of gold bars and coins that you have.

No current gold pricing

We noticed that they don't have a real-time precious metals market update to view on their website. Some customers really like using those to see if the worth of gold, silver, platinum, or palladium is up or down at any given time. This may affect when or whether they make purchases. We wish they had something like that here at Golden State Mint to educate customers.

Smaller inventory

The least expensive price of any gold you can buy at Golden State Mint will be about $900+. Obviously they have other precious metals here that aren't worth as much, therefore costing less, but if you're in the market for gold, plan to pay at least $1,000 here. Their inventory isn't as extensive as some others we have seen, therefore restricting their customer base.

Not much customer feedback

If you're like us, then testimonials play a big role in how you feel about a company and whether you choose to buy from them. There is a testimonials page at Golden State Mint's website, but all of them are 5 star reviews. This sounds like a good thing, but since these are obviously filtered, it isn't that helpful. It was harder to find transparent, unfiltered customer feedback for Golden State Mint, so unfortunately we can't speak much for the overall customer satisfaction here. However, the Better Business Bureau does give Golden State Mint an A+ rating, which is great.

Better choices elsewhere

All in all, Golden State Mint doesn't have a long list of flaws or concerns in our eyes. However, they don't have a long list of reasons we would highly recommend them to customers either. The lack of feedback we have found from buyers along with the slim inventory of gold make this an average place to look for gold and other precious metals. It might be worth checking out, but you'll have better luck using one of our higher-rated sites.

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3 stars
Bullion Vault

BULLION VAULT

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BBB Rating:

Not Rated

BullionVault is operated out of London. They first received funding to plan and develop their services in 2003. In 2008, they were elected into the London Bullion Association, which represents the largest of the world's physical bullion markets. BullionVault has customers in over 170 countries that together hold approximately $2 billion of stored bullion. Their main objective is "to operate the world's most cost-effective, secure, and accessible market in professional grade bullion."

Not for the casual investor

You'll want to know, before considering BullionVault, that this site is not for people with shallow pockets - unless they're looking for something cheaper, like silver. Here you'll mostly be purchasing gold in bulk, so at the time of this review, the live market was showing gold prices of around $50,000. Purchases you make are stored in BullionVault's vaults and funds can be withdrawn at any time via a bank wire or in the form of a Pamp Fortuna 100g bar.

Buying process isn't easy

For customers who have never purchased bullion before, BullionVault is not the most appealing or straightforward website. In fact, you'll likely be very confused at where to even start. Luckily, they do have an investment guide that covers topics like how to buy gold, gold investing, investment insurance, buying silver, and more. We highly recommend at least browsing through relevant topics to see if it helps clear up any questions you have about buying from BullionVault.

Gold buying options

When you go to the buy/sell page, the types of bullion available for buying and selling, along with market pricing and unit weight, is shown. The full list of bullion includes:

  • Gold: Zurich
  • Gold: London
  • Gold: New York
  • Gold: Toronto
  • Gold: Singapore
  • Silver: Zurich
  • Silver: Toronto
  • Silver: London
  • Silver: Singapore
  • Platinum: London

Select your currency

Make sure, when you view the bullion, that you select the currency you use in order to see accurate pricing. When you select the bullion that you are interested in, you'll need to make an account for purchases. When opening an account, BullionVault gives customers a risk-free 1/8 oz of silver to get you started.

Good place for bulk bullion

BullionVault could definitely use a website update. However, tens of thousands of customers have used their service and sing their praises as far as fast transaction speeds, excellent customer service, and professionalism. They are unrated by the Better Business Bureau, but their page does not have any customer complaints, which is a good sign. BullionVault does not offer as many gold and silver options as some other sites we are reviewing, but if you are looking to buy bullion in bulk from a reliable company, this is a good place to do that.

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Continued from above

Every country's currency has weaknesses. As economies shift, the worth of their currency goes on a rollercoaster ride. Historically, gold holds its value against inflation and economic tides in the long-term. In times of political and economic uncertainty, the worth of gold tends to rise as people hold onto it as an investment that can be used across borders and not easily taken as banks or stock markets fail.

There are many reasons that purchasing gold may be a wise investment for you. However, before you go shopping around, we suggest you keep the following criteria in mind:

  • Customer Service. Whether you're new to buying gold or you've been doing it for years, you'll likely have questions along the way. A knowledgeable and accessible customer service team will help ensure you make purchases you feel confident in.
  • Company Reputation. Whenever you're dealing in business transactions that could have a big financial impact on your life, it is crucial that you find a company that is strong and well-liked by other customers. You'll want to know as much about them to make sure they are reputable and honest.
  • Selection. Does the seller give options for gold from all around the world in a variety of forms?

TopConsumerReviews.com has reviewed and ranked a variety of gold retailers to help you determine the best place to buy gold. We hope this information helps you find satisfaction in your gold purchases now, and in the future!

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