Golden State Mint (GSM) Review
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Golden State Mint is a website that lets customers buy gold and other precious metals. Shoppers will find silver and copper available for sale as well as platinum and palladium.
There are even some special collections such as buffalo coins and American Indian coins. Before buying precious metals online, customers need to ensure that they get their money's worth.
We take a detailed look at the site in our Golden State Mint review to help readers make the best decision for their money.
Before we get started:
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Table Of Contents
About Golden State Mint
Golden State Mint opened in 1974 by Andrew Pavlakos with a location in Central Florida. Over the last four decades, the same family owned and ran the business as it transitioned to an e-commerce company.
The Pavlakos family-maintained affiliations with some of the top organizations in the precious metal and investing fields, including the International Precious Metals Institute and the American Numismatic Association.
Customers today appreciate the extensive selection of bars and coins as well as the quick lead and delivery times. Shoppers can buy gold, silver, copper, palladium, and platinum from the site.
They will also find special collections and IRAs. The low prices give customers yet another reason to buy from Golden State Mint.
About the Owner
Golden State Mint does not share much information about Andrew Pavlakos. He is the current owner of the company and a member of the founding family.
Pavlakos oversees the fewer than 50 employees who work for the company, which has its home base in Sanford, Florida.
Pricing and Fees
Prices at Golden State Mint start as low as around $2 per coin and go up from there. An information bar at the top of each page shows visitors the current value of both gold and silver.
They can use the amounts to decide when to buy and sell. Silver coins often start at close to $1,100. Palladium and platinum pieces are available at similar prices.
Available Products and Services
Golden State Mint offers many different products for customers that include:
Those who want to invest in platinum can shop for both bars and coins. They will find both Canadian one-ounce coins from different years as well as one-ounce platinum bars.
Palladium bars also come in one-ounce sizes. Shoppers can choose between Suisse Lady Fortuna and other bars, all of which come on cards.
The wide selection of silver coins sold by Golden State Mint ranges from one ounce to five ounces. There are also colorized and antiqued silver coins available.
Shoppers investing in silver bars can choose one-ounce bars and those that weigh five to 10 ounces. Golden State Mint also offers 100-ounce silver bars and kilo bars.
Adding a fun touch to a collection is easy with the silver rounds from Golden State Mint. They come in fractional, one-ounce, two-ounce, and five-ounce sizes.
Anyone can diversify their investment collection with fractional silver. These rounds and coins weigh less than an ounce and include Aztec Calender, Silver Eagle, and other designs.
Golden State Mint offers one-ounce gold bars as well as 10-ounce and kilo bars. Customers can also choose bars that come carded.
Pick from one-ounce gold coins or those of different sizes. Some of the popular choices include American Gold Eagle, American Gold Buffalo, and Great Britain Britannica coins.
Golden State Mint sells gold rounds such as gold bullion that come in a capsule. With the gold bullion bracelets, customers can wear their investments.
With fractional gold from Golden State Mint, shoppers can diversify their portfolios. The prices range based on the amount of gold in each design.
Another option for shoppers is some of the copper coins that the site sells. One-ounce and two-ounce copper rounds are quite popular. Others prefer the 1/4-ounce and 1/2-ounce or five-ounce sizes.
Golden State Mint Collections
Golden State Mint has an entire page on its site dedicated to special collections. Though shoppers may find some individual products on other sites, all matching items appear in one of these groups.
There are unique and unusual coins and bars found in these collections, including:
Featuring the classic designs found on the Aztec Calendar, this collection is popular with those who want some different options. They can choose bars and rounds in gold, silver, and copper.
Golden State Mint takes copper and silver coins and adds color to them. Each coin still contains the same amount of precious metal but features a unique colorized design on the front and back.
United States Mint
The United States Mint collection includes coins made by the US Mint. American Gold Buffalo and $10 Liberty Gold Double Eagle coins are just some of the top designs.
As a way to celebrate the original inhabitants of the country, Golden State Mint created an American Indian collection. It features copper coins and rounds.
Holiday and Events
The Holiday and Events collection includes coins that memorialize special events and holidays. A one-ounce coin that remembers 9/11 and a one-ounce coin minted in honor of the Apollo 11 anniversary are in this collection.
Born in 1928, Frank Frazetta was an artist known for his impact on pop culture. He created many book and album covers and worked in advertising.
In honor of his work, Golden State Mint offers the Frank Frazetta collection. It features silver and copper rounds that have his face on the front.
Crescent City Silver
Many collectors know the Crescent City Mining District. The Crescent City Silver collection from Golden State Mint pays respect to that district with copper and silver coins and rounds. Each one has a design that pays respect to the district.
Many workers around the world put money into their IRAs every year. They do not need to work with their employers to set one up. These accounts also allow them to make deposits whenever they want and also withdraw money without facing a penalty.
Golden State Mint gives customers a way to set up a gold IRA that includes gold bullion, coins, and bars. They can also choose from other precious metals to diversify their accounts.
How to Set Up a Gold IRA
Setting up a gold IRA requires an IRA custodian. The IRA custodian will wait for the account holder to make a deposit and then help them decide which types of gold to buy.
This individual is also responsible for making sure that the holder's payment clears and that the precious metals go to the right depository.
The holder will get updates about the value of their portfolio as well as records when they need to file their taxes.
Golden State Mint Precious Metals for an IRA
Golden State Mint follows the guidelines issued by the IRS to ensure that its products met the standards for an IRA. Some of the products that are available from the site for an IRA include:
Accessories and Supplies
Golden State Mint also offers accessories and supplies for those who want to store and display their collections. Direct-fit capsules come in rectangular sizes that fit one-ounce bars and keep them safe.
Capsules are also available for rounds and coins. These capsules come in different colors such as red and green. Golden State Mint offers tubes that hold multiple coins, capsule boxes, and velvet bags, too. Also available are display boxes.
To help customers pay for their orders, Golden State Mint accepts several payment methods. Shoppers can use their debit or credit cards on purchases of $10,000 or less.
Orders of no more than $5,000 allow customers to pay via PayPal. Golden State Mint also accepts bank transfers on orders of $1,000 or more. Customers place their orders online and then have 36 hours for the money to reach the site.
Those paying by check must make the check out to Golden State Mint and include their order or invoice number on the check.
Market Loss Policy
Golden State Mint lists all prices in each product description. Once a customer orders, they lock in the current market price.
If the price changes, they still pay the same amount originally shown. Golden State Mint allows customers to cancel their orders but charges a $35 fee.
As a way to honor those who serve or served in the military, Golden State Mint offers a 10% discount. Military shoppers must verify their service records, which they can do so through Verify Pass.
The discount takes 10% off the price listed on any product in stock. On precious metal purchases, Golden State Mint will take the same amount off the premium price listed.
Shoppers looking to save money can check out all of the current deals. The deals page includes products that are only available in limited amounts as well as those that are on sale for a limited time.
Products that are on sale have a countdown timer that shows customers how much time is left until the deal expires. Though some products drop to around $10, market factors can lead to some deals leaving before others do.
Is Golden State Mint a Scam?
Buying gold and other precious metals online is almost always risky because of how many scam companies now operate. Golden State Mint is not a scam.
Though it does not have a current Better Business Bureau rating, most of the nine customers who wrote BBB reviews gave the company five stars. Some pointed out how much they loved the deals.
Other shoppers liked the military discount and the strong customer service.
One shopper did complain in 2020 and stated that they canceled their order and did not get a refund. In response, Golden State Mint apologized for the inconvenience, explained the issue, and promised a refund.
Most of the customer reviews came from shoppers who claimed they would buy from Golden State Mint again.
Pros & Cons of Golden State Mint
Golden State Mint offers many products for collectors of all ages and types. Gold, silver, platinum, and palladium are some of the precious metals found on the site.
With a long history of helping shoppers for more than four decades and strong online reviews, it's no wonder why so many customers return to the site.
The site holds orders for five minutes to give shoppers time to pay and will lock in the stated price for up to 10 days. Golden State Mint is a good choice for shoppers looking for IRA additions and unique collections, too.
Remember to read our list of the Best Gold Investment Companies to work with, before investing your hard-earned savings!
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Hi, I'm Charles Turner, founder of Turner Investments. I created Turner Investments to provide education and guidance to individuals interested in personal finance.
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