Started in 1960, in Santa Monica, Goldline has been dealing in a wide variety of precious metals like gold, silver and platinum. Decades ago, the company started off as Deak Investor Services incorporated, after which the company worked hard to acquire another gold investment company, Dreyful Precious Metals. The company was officially renamed to Goldline International in 1998. Over the years, the team managing Goldline International has acquired valuable experience dealing in precious metals, especially gold.
Not only does Goldline deal in precious metals, over the years, it has taken part in a number of community based programs like sponsoring local students for higher education and supporting cancer patients.
Through the years, Goldline has been the victim of a number of controversies revolving around their rates and customer complaints. Currently, Goldline International isn’t accredited by the Better Business Bureau (BBB). Complaints showed that Goldline did not concentrate on providing customer support and solely concentrated on selling gold.
Procedure For Investing With Goldline International
Contrary to other gold companies, Goldline doesn’t operate its business through a website or online. In order to do business with Goldline International, interested customers should first call a toll-free number where they are connected to an Account executive, from whom they can request a starter investor’s kit which is free of cost.
This kit includes detailed information about the company, its products and services. The investor’s kit also includes an agreement which is necessary to be filled out and signed before initiating any sort of dealings. Once the agreement is finalized, investors can select the precious metals they want to invest in. Payments are made through a client service representative at Goldline.
Although, there are a lot of controversies still circling around Goldline International, it goes without saying that the teams at Goldline International possess valuable experience when it comes to dealing in precious metals.
They deal in a wide variety of precious metals like:
- Specialty coins-These include valuable coins from the Wells Fargo Nevada Gold collections and S.S Republic Shipwreck coins.
- Silver– Silver bullion bars are also available to invest in.
- Platinum– They also deal in Platinum bars and coins.
- Palladium– you can also choose to invest in Palladium bullions for storage.
- Historic dollars– Including precious metals, Goldline deals in half-dollars which have substantial historic value like Walking Liberty, Franklin and Morgan half-dollars.
- Historic coins– Goldline also deals in IRS approved historic coins which include Saint Gaudens gold coins, Indian Head coins and Liberty coins as well.
- Gold bars– They also deal in pure gold bars which are available in 1 oz, 10 oz and up to a kilo sizes and weights.
- Bullions– Goldline deals in a wide array of precious metals bullions. These include platinum, gold and silver bullions which are frequently imported from countries like France, China, Russia and a number of other European countries.
Services at Goldline International
Apart from the wide variety of investment options Goldline provides, they also provide services like:
- Investor’s kit – When you decide to invest with Goldline, you have access to a free investor’s kit which provides you all information on all you need to know about precious metal investments. The agreement is also included in this kit but it is available online on their website as well.
- Depositories – Goldline also gives a number of options if investors wish to store their precious metals with insured third party depositories. There are also storage options available with Goldline and they usually charge around 0.75% of your investment value.
- Delivery – All deliveries are made through United Parcel Service (UPS), U.S Postal Service or Federal Express. The deliveries are fully insured and are free of cost for investors in the U.S or Canada.
- Customer Service – Customer service is also available during office hours if you wish to contact the Goldline office in case of any query.
- Limited buy-back – For coins and precious metals there is a limited buy-back option with a liquidation fee of 1%.
Although Goldline’s website offers an email address for customers but customer support is largely handled through the toll-free number. Customers who wish to pay through cash are requested to stop by Goldline’s Santa Monica office after making an appointment.
Better Business Bureau
Goldline is not accredited by the Better Business Bureau and it is still unclear whether they come up to the standards of the bureau or they are not seeking the accreditation themselves.
Based on up to 45 customer reviews, Goldline scored two stars on the TrustLink website. This is largely due to customer feedback and complaints, most of them mention that Goldline charges higher rates than other gold investment companies.
A number of customer complaints also claim that the fee Goldline charges for their services is comparatively higher and this is not really discussed initially.
By the end of February, 2012, Goldline was also subjected to a $4.5 million fine, as a refund to previous unhappy customers. According to Santa Monica’s Attorney Office, Goldline was also asked to deposit $800,000 in a fund for future claims.
Considering their experience in dealing with gold and other precious metals, Goldline has a pretty solid background. They offer investors everything they’d expect out of a gold investment company.
Keeping in view all the red flags and complaints, a former federal prosecutor was hired to oversee the company’s operations till 2017. These changes have shown positive progress in aspects where the company was lacking before. GoldLine International offers a better pricing structure and better customer service now.