Today we review GovMint for you. What is GovMint.com? a Scam or a Legit gold dealer? We look at their complaints. How is their service? Do they fit your particular needs? This is some of the questions we help you with!
Company: GovMint (GovMint.com)
Owner: Bill Gale (founder and president) Linda Ticen (Owner)
Who is it for: Precious metals investors
Overall rating: (2.5 / 5) Not recommended
Important to mention before we go into more details of this review:
We always strongly recommend doing your research online before you choose a company to invest with. There are so many reviews online of clients being ripped off and scammed. The most common way people are getting scammed is through so-called “hidden-fees” so please investigate thoroughly before you make your decision.
With that being said, let´s continue with the review on GovMint!
What is GovMint.com?
GovMint is a company that mainly sells coins and bars in the form of gold and silver. They are considered to be one of the leading retail rare collectable coin marketers in the U.S. On the company’s website they provide info on their founder and president Bill Gale (founder and president). However, on the Better Business Bureau website, Linda Ticen is listed as the owner. The physical address of GovMint is: 14101 Southcross Drive Burnsville, MN 55337
Their sales representatives are very experienced in sales, and each of them has an extensive background in the area of numismatics.
How does it work?
The way their website work is pretty much like any e-commerce site work. You simply browse around for what you want, put it in the cart and proceed to checkout.
The products and services offered
GovMint offers its clients gold and silver coins mainly, but also bars and paper currency.
Do they offer Gold IRAs?
There is no info about this on their website so I am going to assume that they do not offer IRAs.
As mentioned above, there is no info on IRAs on their website.
How is support?
Something I always put a lot of weight on when it comes to the support system of a company is if they got a live chat function on their website or not. Does GovMinth have this? No, they do not, and that is a minus (at least in my book). To get in contact with them you got an e-mail address and also a phone nr to reach out with your questions.
Below are the countries GovMint currently ship to:
- US (includes US Virgin Islands & Puerto Rico)
- United Kingdom (includes England, Wales, Scotland, Northern Ireland & Isle of Man)
Is GovMint.com a Scam?
So, is GovMint a scam? Well, I don´t think so, they got a real owner and a real physical address. however, if they are your best alternative out there is another story. Let´s go through some potential red flags that you might want to be aware of:
There is no info on their website about what their parent company´s (that they mention below) name is? Am sure you would like to know that as well, right?
How do I know you are a reputable company?
GovMInt.com’s parent company has offered high quality products and unparalleled service since 1984. We are members of the following organizations: Better Business Bureau of Minnesota, Direct Marketing Association, American Numismatic Association, Midwest Direct Marketing Association, and Telemarketing Manager’s Association.
That is something I noticed when I researched their website, and I started digging into it by performing some Google searches and I was able to find out that the parent company is Asset Marketing Services, LLC.
My conclusion from this:
As the parent company is specialized in marketing I would be on my toes while speaking to one of their representatives as they clearly know how to sell. Am in no way saying that their sales staff are unethical.
However, you need to know that in this industry there is a large number of reports online of people that have been ripped off and scammed by sales representatives, mainly with coins.
That might be wise to keep in mind… Let´s continue to investigate if we find any more red flags by looking at what the most well-known and trusted review and rating sites online have to say about this company.
Online reviews and ratings
As always in our reviews, we provide you with the results from the most well-known and trusted review and rating sites have to say about the particular company you are interested in, in this case, GovMint.
Rating: A+ (2.2 / 5) (out of 15 complaints) click here for details (opens in new window)
Rating: (1 / 5) (out of 6 complaints) click here for details (opens in new window)
The conclusion from this:
Well, as you clearly can see above their online reviews and ratings are not many to be found, and the few we did actually find was not really that impressive. Quite the opposite actually, below are some examples:
GovMint.com advertises 30 day Money back guarantee. However, upon receipt of the your purchase (e.g. Silver or gold) the company provides a return authorization ONLY for purchases $499 and under!! They actually tear off and retain the RA on higher purchases. If you desire to return the purchase, you do so without a preprinted RA, by paying insurance and shipping. but, no mail service will reimburse for a claim of lost coins, even if insurance is purchased. It also took me five phone calls to get all the information I needed to return the silver, and I am waiting to be reimbursed. I was also charged and sent more silver than ordered!! The company blamed me for making multiple orders. Caveat emptor!
Here is another one (not so happy client):
Hi: my name is les mccartney. Hello to every other scamed and / or hassled; with “ra” problems (Promised but never received) ‘ and poor quality of received product in “shameful condition and definitly not of “gem pr 70”, or any other advertised quality on many of the sent and received coins! Yes, i to have had every problem stated, multiple – times; scratched, smudged, fingerprinted, sneezed on; and then passed – of as proof qualiity!!? I am now in the midst of a conflict with my rep. Jim marshall, who has promised me several intuitive items that should have been included with the coin sets i puchased. You all know that once your assigned a “rep” the moat of protetion has been dug and filled with alligators, and you can’t get to anyone else. It seems that “the rep” will tell you everything and anything you need to hear, to get you past the 30day return period; thus creating an additional problem on returns. If enough people follow my lead by putting a “block” and intiating a “stop – pay” on your credit – card against govmint, it may get their attention and change their terrible biz ethics and practices!!!?? Best thing for any of you dong biz with govmint is stop! Better yet don’t start!! There are many other reputable and competitive companys out there; and you will get what you pay for!! Ps: i thought i was on very good terms with my rep until i started pointing out all of the problems, and actually overlooking them when i receiived valid retuns or replacement. By his actions of not suppling me with valid “ra” numbers; which were ask for and promised; but not delivered – he has now taken what is probably the corporate tactic, of simply not returning my phone calls! Buyers be – ware!
The pros and cons
As always in our reviews we also provide you with some clear points on both the positive sides but also the negative ones regarding the company in particular:
- Accredited business by the BBB
- Negative reviews online
- Lack of support
- The telemarketing “connection”
Do you Own or Represent GovMint?
If you are a representative, or associate of GovMint and have found something not to be correct in this review please, feel free to tell and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or else you got the e-mail on the about page.
Final words and verdict
Verdict: Legit (But not recommended)
Overall rating: (2.5 / 5)
Ok, I think that sums up the overall picture of this company pretty good. I cannot give a higher rating than the low 2,5 simply because the negative complaints are there for anyone to see. Also, the fact that they pride themselfs in having such a great sales team is a bit of a warning sign to me.
Add into the mix that the company specializes in selling coins and I would look somewhere else if I was you.
However, the decision is as always up to you to make, but I would recommend looking at other dealers before making a final buying decision.
What I would recommend?
Well, depending on your needs, investing budget, and what you are looking for I have different options listed on this website.
You made a wise chose reading this review and you are a smart person. I am absolutely sure that you will find the right company that fits your particular needs the best and also feel comfortable dealing with.
I hope you found this short review of GovMint.com to be helpful and now you should have a better understanding on what it is and if it is for you or not. Please, if you have used any of their services then share your experience in the comment section below as it can help others. Also, if you got any questions about this review I will be more than happy to answer them below as well!
I wish you the best!
founder of: GoldRetired.com