In this article, we are going to review GSI Exchange. They claim to be a leading national coins and precious metals company focusing on low prices and direct sales of rare gold and silver coins. Is GSI Exchange a scam or legit? Let´s find out in this short GSI Exchange review!
Company: GSI Exchange
Founder: Anthony Allen Anderson
Price: Depends on your investment
Who is it for? Precious metal investors, retirees
Overall rating: (3.5 / 5) (Average)
Important to mention (before we go into more details of this review)
We ALWAYS strongly recommend doing your due diligence and research online before choosing a company to invest in. There are so many reviews online of clients being ripped off and scammed. So please investigate thoroughly and compare different alternatives before you make your decision. 100% transparency is what you want from a company as most rip offs in this industry take place with so-called hidden fees.
Another example: 99.9% of companies got “pushy” salespeople trying to stress you into acting fast.
Here is the thing, The #1 Recommended Gold & Silver IRA Dealer on our top-5 list got No-salesy representatives… So they won´t bother or terrorize you with phone calls. They are also 100% transparent on fees.
You are a smart person, so I am sure that you understand the benefits of dealing with such a company instead, right?
+They got a couple more benefits you might appreciate just as much as we do. You will understand yourself once you have seen it yourself.
==> See our Top-5 List of Precious Metals IRA Companies on this page <==
With that being said, let´s continue with the review on GSI Exchange!
What is GSI Exchange?
GSI Exchange is a wholesaler of gold, silver, and precious metals. They claim to have a unique approach to the gold business, which sets them apart from the many other companies in the same field. They can sell you rare gold and silver coins, which happens to be one of their specialties, and the experience they have can prove to be quite helpful for anyone looking to invest in gold.
They are a privately owned company which means that they are more effectively managed and can be trusted to offer you wholesale gold and silver products for any usage scenario you might have in mind.
Address: Palm Beach Gardens, Florida, United States
They also sell precious metals wholesale, which is helpful for a standard portfolio or part of a gold IRA or a silver IRA. They have a unique approach that makes them a fantastic gold investment company to work with, and they are different from what most other companies offer.
They have precious metal IRAs designed to cater to the needs of their clients and enable them to build a better retirement for themselves. If you are looking to possess physical gold, this is the one company that can take care of delivering the gold you require safely and conveniently.
They have their upsides and downsides, as we will see in this review. Therefore, let us dive right into the review and see what GSI Exchange has to bring to the table for investors interested in gold coins, precious metal IRAs, and wholesale gold products.
What products do they offer?
The company has been widely recognized for its wholesale gold and silver offer. They also deal with the wholesale trading of platinum and palladium. Whenever you need to open a gold IRA or a silver IRA, GSI Exchange will be your provider of precious metals.
The fact that they offer their products at wholesale rates should mean that you can get a pretty good deal for the products, saving you money and enabling you to invest in a more significant amount of gold or silver. They also deal in gold and silver coins, bars, and bullion.
They are a company that happens to have an unlimited supply of the best quality gold, silver, platinum, and palladium coins at very affordable prices. Whenever you need different kinds of coins for your collection or your precious metals IRA account, this is the one company that will be sure to provide you with what you need.
They have a reputation for having successfully placed more than $1 billion in transactions and commodities of precious metals worldwide. They also offer advice to clients looking to invest in different precious metals.
One feature that makes GSI Exchange different from the rest of the pack is that they always account for the moving items for precious metals that hold the highest potential for their clients. They can provide better services to their clients, which translates into complete transactions for the clients with each transaction that they carry out.
How to get started?
The simplest way to get started working with the company is by visiting their website. This will provide you with a first impression of the nature of the company and an opportunity to get in touch with them. You can also request a free kit on their website to discover the many scenarios in our economy where banks are likely to fail. This is obviously where investing in precious metals proves helpful.
In addition to the free kit that you get on their website, their customer support representatives will contact you within 1-2 business days and guide you through the rest of the process.
They are informed people dedicated to rendering the best services possible to their customers. They will quickly provide you with the best options in terms of investment and ensure that you are making the right choices in terms of your precious metal purchases.
They will also be sure to answer your questions and provide you with the proper forms to fill out to make a purchase. This is relatively straightforward and one of the main features of the service offered by GSI Exchange.
GSI Gold IRAs?
Yes, as mentioned they do offer Gold & Silver IRA service to their clients.
However, there isn´t any information on their website, at least no what I could find, where they tell you what IRA custodian (or custodians) they are partnered with, and that is a minus.
So in order to find that out one would have to contact them and ask.
What are the fees??
Even though the prices for various gold and silver coins are publicly listed on their website, there is little to no information about their annual fees.
Perhaps this is due to the reason that they are a wholesale provider of precious metals?
We don´t know, what we do know though is that it is absolutely crucial that you know exactly what fees are associated with setting up an IRA with ANY company.
The industry is known for rip offs when it comes to fees, especially the so-called hidden fees that you don´t want to get surprised with.
What you want from a company is 100% transparency, so please ALWAYS make seure that you know exactly what it is you have to pay for, and how much, before you sign any papers.
**See my #1 Recommended Gold & Silver IRA Solution (100% transparent)
Can you sell back your precious metals?
Yes. They seem to actually have better buybacks than what you will find with many other gold investment companies. However, my personal favourite company (see link above) got a “highest price buy back guarantee” so am not sure they beat them on the fingers at least.
How good is their support?
Excellent. Their customer support is one feature that makes the company stand out. They are helpful, patient, and very resourceful with their services. They will always ensure that they provide you with all the information you need and give you the right directions to achieving anything that you would like on the website.
They are also instant with their reply, and the live chat feature of their website is one of the most significant aspects of their services. You can trust the support to get you all the help you need to start investing in gold, make an order or process a purchase for precious metals.
Is GSI Exchange a Scam?
So, is GSI Exchange a scam? No. The company is not a scam. They got real owners and a real physical address. They might be affected by the perception of scammers but are constantly working to make investing in precious gold easier and safer for their customers by keeping them informed.
GSI themselves advises people to take scams seriously since the scammers are tarnishing their good name. They seem to be an honest company working hard to overcome the perception of scamming, and they claim that their business is always honest and legitimate. You should be able to trust them to provide you with quality services whenever you need to buy gold at wholesale prices.
However, if they are your best alternative out there is a whole other story. That leads us to what the most well-known and trusted independent third-party consumer protection agencies have to say about the company:
GSI Exchange Reviews, Complaint & Ratings
Find all reviews on the GSI Exchange company and review their rating here:
BBB (Better Business Bureau)
Rating: NOT accredited business click here for details (opens in new window)
Rating: (3.7 / 5) (from 1 review) click here for details (opens in new window)
BCA (Business Consumer Alliance)
Rating: AAA (from 27 reviews) click here for details (opens in new window)
Rating: (4.7 / 5) (from 3 reviews) click here for details (opens in new window)
Rating: (5 / 5) (from 3 reviews) click here for details (opens in new window)
What can we make out of these results?
The consumer protection agency I always put the most weight on is Trustpilot, the reason for that is because only real customers of a particular company can leave their testimonials there. As you can see above there was only 1 review there, and the overall score of the rating is only 3.7 out of 5 stars, a bit below average.
Other than that we can also see that GSI is not an accredited business by the BBB, and that is another minus.
GSI Exchange Complaints?
Even if we didn´t find many it looks like there at least is one dispute of $133,000 between a customer and GSI (see screenshot below):
This particular complaint above can be found on the Trustlink site (see link urther up) where you can read more detailed and make up your own opinion about the dispute. We also found a lawsuite involving GSI but it seems that it has not been filled against GSI but instead GSI have filled one towards a person for debt collection.
Are there better alternatives out there?
In my personal opinion, yes there might be better alternatives, such as Augusta Precious Metals for example, that got HUNDREDS of positive reviews on the Trustpilot site + top-ratings from all of the above consumer protection agencies. Another company you might want to check out is Augusta Precious Metals that got ZERO complaints from BBB and is also an accredited business by them.
I do not find the GSI ratings that impressive to be honest, and that has mainly to do with the low amount of reviews on the Trustpilot website and also the fact that they are (for the moment at least) not an accredited business by the Better Business Bureau (BBB).
**See my Top-5 List of Gold & Silver Investment Companies (outside or inside an IRA)
The PROs & CONs of GSI
- Customer satisfaction is their main priority
- Cheaper prices for precious metals
- Not that impressive ratings from the consumer protection agencies
- You have to be investing in a reasonable amount of precious metals to get the full benefits of this company.
Do you own or represent GSI Exchange?
Are you the owner or a representative of GSI Exchange? If so, feel free to contact us for clarifications on the information we have provided or add some more. We will pass it on to our readers, who are people looking for the right advice and information whenever they invest in gold. Your input will be highly valued and appreciated. The easiest way to do so is by simply leaving a comment in the comment section below this page, or by sending us an e-mail at: firstname.lastname@example.org
Final words & Verdict
Overall rating: (3.5 / 5)
Summary: GSI Exchange is not a scam but a wholesale precious metal provider that focuses on the best customer experiences for their customers.
You should be able to safely do business with GSI Exchange and get gold and silver at wholesale prices. They are also good with coins and will give you access to rare gold, silver, platinum, and palladium coins.
However, their ratings from the most well-known consumer protection agencies did not impress me and there aremore than a hand full of gold investment companies out there with more impressive results from their ratings.
As always, the decision is up to you to make, I am only here to try to help you make an informed decision.
Ok, so where do you go from here?
First of all, you made a wise decision to read this review as that clearly shows that you understand the importance of doing your research. As you are a smart person I am absolutely sure that you will find the right company that you feel comfortable to do business with.
I would strongly recommend that you compare different top-alternatives before you invest.
My personal #1 recommendation is Goldco, and you might want to check out what they got to offer, as they got some pretty clear advantages, especially if you are looking into a precious metals IRA. One example is that they currently got a 10% silver campaign, where you can get up to 10% in free silver when you open a new Gold IRA. They also got a “highest price buy back guarantee” that many of their clients find as a very comfortable feature.
==> Learn more about my #1 Recommendation (Goldco)
==> See my Top-5 List of Gold & Silver Investment Companies (outside or inside IRA)
I hope you found this short review of GSI Exchange to be helpful and that you now have a better idea on what it is and if it is the right company for your needs. I do absolutely not think it is a scam but in the same time I believe there might be better alternatives out there. Please share your own experience in the comment section below as it can help others. Also, if you got any questions about this I would be more than happy to answer them below!
I wish you the best (and a lot of success!)
founder of Gold Retired