GSI Exchange Review
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GSI Exchange is a prominent player in the precious metals industry, dedicated to serving the needs of investors who seek to diversify their portfolios with physical assets.
With their extensive range of offerings and commitment to customer satisfaction, GSI Exchange has established itself as a trusted source for acquiring and trading precious metals.
But are they a good fit for your investment needs?
Keep reading to find out.
Before we get started:
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Table Of Contents
About GSI Exchange
GSI Exchange was founded by industry veterans in 2014. This company is a leading national coin and precious metals company that specializes in precious metals for individual buyers and direct sales to the general public.
The management at GSI has more than 75 years of combined market experience and a large supplier database within the U.S. According to GSI Exchange, the relationships they have created have enabled them to confidently offer an unlimited inventory of the highest-quality silver and gold at competitive prices.
GSI states that they carefully monitor the moving markets for items that offer high promise and value for customers. The company also states that they have a huge inventory of products for investors and collectors to consider.
If you're searching for the right precious metals company, it's important to pay attention to product selection. GSI Exchange offers an excellent range of metals for investors and collectors.
United States Mint: American Eagles, American Buffalos, Pre-1933 U.S. Gold, High Reliefs, U.S. Commemoratives
Royal Mint: Britannia, Queen's Beasts, Royal Tudor Beasts, Sovereigns, Myths & Legends, UK Commemoratives
Royal Canadian Mint: Maples Leafs and RCM Commemoratives
Perth Mint: Kangaroos and Lunar Series
United States Mint: American Eagles, America The Beautiful, Silver Dollars, Half Dollars, U.S. Commemoratives
The Royal Mint: Britannia, Queen's Beasts, Royal Tudor Beasts, UK Commemoratives, Myths & Legends
Royal Canadian Mint: Maple Leafs
Perth Mint: Kangaroos and Lunar Series
According to GSI Exchange, shipping costs are determined by several factors like weight and the value of your order. The company further states that although shipping charges will vary, costs will be fully disclosed at the time of your order.
In terms of packaging, you can expect your items to be discreetly wrapped and all products packed into a box within a box. All orders are typically shipped either by USPS Mail or Registered Insured, depending on the weight of the package.
In certain situations, it may be necessary to use UPS or FedEx. But all shipments will require a signature on delivery.
Something to pay attention to is the shipping time. Orders paid by check or credit card will not ship for at least 12 business days after receiving payment, according to the website.
Any orders paid by bank wire are typically shipped between 5 and 9 business days. However, these timeframes can vary and ultimately depends on current availability and inventory.
If you're looking for storage of your precious metals, GSI can help with this. According to their website, they can arrange industry-leading pricing on third-party storage for certain products. If you would like more details about this, you will need to speak with an Account Executive.
GSI Exchanges encourages customers to check out their Client Agreement and Disclosure for return information. At this time, the link to the agreement and disclosure is broken. To learn more about their return policy, you will need to contact a representative who can assist.
Lost and Damaged Items
According to GSI, lost or damaged shipments may be replaced at GSI Exchange's discretion. The company may replace the order as originally confirmed or by refunding the customer's purchase price.
If you have any discrepancy with your items, you must report it to the company within five days of receipt of the package. All packing materials must be retained and reasonably intact. After the five-day period, GSI will assume all deliveries were received and will not address any concerns.
Buying From and Selling to GSI
There are a few other key details to consider if you decide to work with GSI Exchange. For instance, there is a minimum order that customers need to keep in mind. The company asks that orders be at least $1500.00 in value. There is no maximum order but GSI says larger orders may take more time to ship.
GSI Exchange accepts a variety of payments, including bank wire, personal check, and credit card for purchases of semi-numismatic and certified coins. Note that GSI does not take cash or money order. One advantage of GSI is that they do not charge any additional fees for credit card use.
If you would like to get in touch with GSI Exchange, you can use the form found on their website. The company states that all inquiries will be answered within 1-2 business days. But if you would prefer to call them, you can do so by dialing (800) 474-9159.
GSI Exchange offers a comprehensive learning center to arm collectors and investors with more knowledge to make the best investment decisions. On their website, you can find a variety of learning resources like beginner guides, practical tips, and market updates for new and seasoned investors. Here is a closer look at some of the resources you'll find in their Learning Center:
Gold and Silver Relationship Infographic
This detailed infographic provides a data timeline of when silver and gold were monetized at 15.5 ounces of Silver equal to 1 ounce of Gold in the U.S. If you're someone interested in the history of coins, this infographic is worth the read.
Interactive Precious Metals Charts
Real-time data is one of the best ways to make informed decisions. With that said, GSI Exchange offers real-time currency value and precious metals pricing.
On the company's website, you'll get to take advantage of their live pricing chart of gold, silver, and the global value of the U.S. dollar, and other relevant currencies. This convenient tool makes it easier for individuals to compare product prices to the current market value.
Breaking Down the Gold Supply Chain
This informative blog discusses the true cost of gold and talks in-depth about the gold supply chain to help individuals understand the process they're paying for when they purchase a gold product.
U.S. Regulations on Gold and Silver
Another educational resource that individuals will benefit from is a comprehensive blog about laws and regulations. GSI Exchange has an interactive icon that allows you to click on a state and learn what its laws and regulations are regarding precious metals. You can also use this tool to find local coin shops in your state.
Although the company was established in 2014, it hasn't managed to collect that many reviews across platforms. When reviewing GSI on the Better Business Bureau, the company has collected a total of 9 reviews. Let's take a look at what customers have said about the company:
One customer said they were lucky to have found a company like GSI Exchange. The customer has nothing negative to say and claimed that GSI Exchange was forthright, honest, and always helpful to the customer.
The customer representative was available for questions 24/7, which made it easier for them to do business with GSI. According to the customer, they initially invested around $100,000 and saw their holding grow over time.
Another customer had an exceptional experience with GSI Exchange. Their representative had a deep understanding of the precious metals market and offered this knowledge to the customer to help them make a more informed decision. Additionally, the representative was always available to answer questions.
One collector said they have been collecting coins for around 25 years. Over the years, they have experienced a variety of salespeople at reputable firms. But GSI Exchange has offered the best service and competitive prices, making them a clear winner among the customer's other options.
Other reviews have ultimately had the same positive sentiments about GSI Exchange, making the company a top contender for your precious metals. With that said, there was one complaint on the Better Business Bureau that's worth paying attention to.
A customer of GSI Exchange said that their contractual agreement with them had not been met. According to the customer, GSI failed to provide them with proof of gold ownership in exchange for their money. The customer said that they contracted with a representative working for GSI Exchange.
The contract indicated that the customer would receive documentation that showed their purchase of gold. To the customer's understanding, they would wire/mail money to an account owned by GSI and GSI would provide them with proof that the transaction was made and that the customer had ownership of the product.
The customer claims to have not received anything from GSI and GSI Exchange refused to give the customer's money back. The customer said they provided GSI Exchange with payments on several occasions. This interaction occurred on 12/16/2020.
GSI Exchange did respond to this complaint. However, the response to this complaint occurred on 06/24/2021. The representative said that there has been significant delays in shipment and that there were two orders ahead of the customer's order.
Based on this exchange, it appears that GSI Exchange was experiencing a 6-month delay at the very least during this time. It is unclear whether this is still an issue for GSI Exchange since there aren't many reviews, but this is something to keep in mind.
GSI Exchange: Pros and Cons
Here is a look at a few pros and cons of working with GSI Exchange:
On their website, you'll conveniently find current bid and ask prices, enabling you to compare them to the current prices of coins and bullion in the market.
Another advantage of GSI Exchange is the fact that you can see in-stock and out-of-stock items. This ultimately leads to a faster buying process as you don't have to waste time finding out whether a product is available.
GSI Exchange does not have an option for you to open a gold IRA with them. However, they do offer assistance with opening an account or you can use a third-party custodian. Additionally, GSI will help with rolling over funds into your gold or silver IRA.
One thing that investors will need to be mindful of is possible shipment delays. Based on the complaint discussed above, there was at least a six-month delay for a customer's product, which is quite significant.
Since there are no additional reviews, it's difficult to tell whether GSI Exchange has dealt with its shipping issue. Regardless, investors should proceed with caution.
Another downside of GSI Exchange is that the company does not offer platinum or palladium. Today, many investors are interested in expanding their portfolios with a variety of precious metals. The lack of platinum or palladium makes GSI a more limited company to work with.
GSI Exchange: Final Thoughts
GSI Exchange is a precious metals dealer offering gold and silver to investors and collectors. The company prides itself on offering extensive education and a variety of gold and silver metals to help its customers make the best decision.
While GSI Exchange offers a variety of gold and silver, they don't offer any metals beyond this. But this shouldn't deter you from giving them a try. Just keep this in mind as you're exploring your options.
Overall, GSI Exchange has not gathered many reviews despite its being established in 2014. Luckily, most reviews were positive with just one complaint. Regardless, if you're looking for a precious metals dealer to try, GSI Exchange may be a good choice to consider.
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.
My goal is to make Turner Investments a valuable resource for anyone looking to learn more about personal finance and make smarter investment decisions.