Golddealer is one of the oldest websites that sells precious metals online. The domain was registered in the 1990's and has remained with the company ever since. But longevity doesn't always mean that a company is the best in the business. Has Golddealer kept up with the times? And do they offer legitimate services?
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Golddealer is the URL for an online business belonging to California Numismatic Investments. If you want to purchase from California Numismatic Investments online, you do so through their Golddealer website. The site was first founded in the late 90s. In the beginning, it functioned as an educational site with up-to-date information about the precious metals markets.
California Numismatic Investments has been in operation since 1982, boasting about 40 years in the industry. Since precious metals have only been traded in the US since the 70s, this makes them one of the most long-lived operators in the business.
The business is relatively simple. They sell bullion and coins to investors through the website. It's also possible for you to sell your own precious metals items back to the company by following the steps on the website.
One note is that the site doesn't seem to have been updated in a while. It's not the easiest to navigate, especially if you're browsing on mobile or in a minimized window.
The company does have some services for people who are interested in precious metals IRAs, although they don't specialize specifically in this. Another option is to use one of their accumulation programs, which allow you to purchase valuable coins over time. You can work with one of their partnered storage facilities to keep your holdings safe and secure.
Like many of the most competitive professionals in the industry, Golddealer is part of multiple organizations. They participate in the Industry Council for Tangible Assets, the California Coin and Bullion Association, and the Professional Numismatic Guild. All of these credentials help to bolster their reputation.
About the President
The company president is a man named Richard Schwary. He earned a bachelor of science degree nearly 50 years ago, and he has been part of the precious metals industry for about 40 years. He was even involved in writing tax legislation with regards to rare coins and bullion in California.
Richard was among the first precious metals dealers who were ever licensed to trade in Minnesota. That's a big deal, since Minnesota has stringent guidelines regarding who can sell precious metals. He has worked as a consultant for reference books about rare coins, and his work has been published in multiple different papers.
Today, Richard travels around to different national shows to learn about the latest developments on precious metals in the US. He was also the president of the Professional Numismatics Guild for three years. Both the FTC and California have called upon Richard for testimony as an expert witness in cases regarding precious metals and bullion.
Richard runs the company on his own these days, after his business partner passed away in 2018. But there are multiple corporate managers with a diverse range of expertise as well.
California Numismatic Investments offers multiple services through both the Golddealer website and their in person stores. These function in addition to the many rare coins and other precious metals products available for purchase.
The company is staffed by experts who know everything there is to know about precious metals investment, the economy, and the value of individual items. Some of these people have been in the precious metals industry for decades!
As such, Golddealer provides market insights to customers who ask. If you're curious about the past performance or growth potential of a particular investment, they'll have guidance. They can also point you in the direction of different precious metals depending on your overall investment goals.
They encourage you to give them a call with your questions, no matter whether you want to make a purchase or not. It does seem that their sales representatives don't use pushy tactics -- or at least, we haven't found any complaints.
Many precious metals dealers aren't willing to purchase from their customers, but that's not the case at the Golddealer website. The company states that they are eager to buy your precious metals when you're ready to liquidate. They will purchase any type of bullion or rare coin, even if it isn't certified.
One of the major benefits that you'll find on the website is that they publicly post their purchase quotes. That means that you know exactly how much you'll be paid before you even pick up the phone. They do this by using an algorithm that refreshes every minute as the market prices of different metals fluctuate.
There also doesn't seem to be a minimum sale requirement. It doesn't matter whether you have just a few coins or an entire estate worth hundreds of thousands.
The company does have some requirements when it comes to the sale, but these are fairly reasonable. You'll run into the same basic expectations with virtually any dealer:
If you want more information about what Golddealer will offer for your items, you can peruse the prices on their website or call to speak with one of their customer service representatives.
When you're looking for authenticated coins, the main organization is the Professional Coin Grading Service. But not every certified coin is of the same quality.
Golddealer carefully double checks the quality of every PCGS coin that they sell. This allows them to make sure that the coins are actually of the recorded quality. Before any coin in the inventory is put onto the sale floor, it has been double-checked by an expert.
If you have any interest in finding out how much one of your items is worth, you can bring it to California Numismatic Investments for a free appraisal. In addition to appraising coins, they will appraise bank notes.
Appraisals are free no matter where you bought the materials. Sometimes they can be provided over the phone, so you don't even need to mail your items in.
Is Golddealer a Scam?
Golddealer is not a scam. The company has been operating for more than 30 years under the name California Numismatic Investments, and it has had the Golddealer URL since the 1990's. In addition, the company has a high level of transparency regarding its corporate management and policies.
But all of that doesn't necessarily mean that this is the best company to invest with. For one thing, they have quite a bit of negative feedback on Trustlink. Some customers say that they received coins that were not of the agreed-upon quality, or that their items were in damaged packaging. For another thing, it's difficult to find a lot of reviews of their services on third party websites.
However, they do have an A+ rating with the Better Business Bureau. The only complaint filed recently has since been resolved. It was related to problems with delivery of a shipment. The Business Consumer Alliance also gives the company the top marks of AAA, indicating that they have a good track record with customers.
Pros & Cons of Golddealer
Golddealer is one of the oldest precious metals websites. In fact, the site has existed since the 1990's. Prior to being used as an eCommerce site, it was a place where people could learn about precious metals and look up information like the current market prices for gold and silver.
Today, the site's parent company continues to operate throughout the US. They have a largely good reputation with the BBB and the BCA, having scored top marks with both organizations respectively.
But there are a few potential issues that give us pause. One is that the website doesn't seem to have kept up with modern times. It can be difficult to navigate the interface, especially if you're browsing on mobile. Since so many consumers shop from their phones, this seems like a serious oversight.
Another issue is that there is some pretty negative feedback online. Despite being in business for decades, there aren't a ton of online reviews, which makes negative feedback even more concerning. If there were hundreds of positive reviews, that would balance it out.
Most of the negative reviews can be found on Trustlink, where the company has a rating of just 2.6 out of 5 stars. That indicates that about half of all the customers had an extremely negative experience. People have said that they were sent poor quality coins in damaged packaging, or that they had major problems with shipping delays.
There are other precious metals dealers that have much more universal praise. Despite Golddealer's long history in the industry, we recommend working with one of these instead.
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