Today we take a look at South Bay Gold for you. What is South Bay Gold? How well do they match up against our #1 recommended companies? Will it be a good choice for you? This is some questions this review will help you with!
Company: South Bay Gold
Owner: Not mentioned on their website (bad sign)
Price: Depends on your investment
Who is it for: Precious metals and jewellery investors
Overall rating: (3 / 5)
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 South Bay Gold!
What is South Bay Gold?
If you want to sell or buy precious metal in Los Angeles, South Bay Gold might be a place to consider. You may also need reliable repair of your jewellery or shop for stylish designs. South Bay Gold gives interested dealers a chance to sell their gold among many other offers, products, and service. They have a manufacturing facility with a refinery famed to be at least $2 million.
So what do they do? The company refines the gold to manufacture jewellery for sale. It is one of the biggest companies in Los Angeles gold industry. Located in Orange County, CA, it has generated a reputation from many years of gold, silver, and platinum purchases at competitive prices. Founded in 1997, it has grown to become one of the leading gold buyers and sellers in the local Los Angeles city.
How does it work?
SBG buys precious metals (both certified and uncertified) for refining, repair and sale of luxury items. They specialize in the latest designs on the market as well as rare ceremonial coins.
Most people go for repairs and customizing of their jewellery. Depending on the size of the piece and the technicalities involved, they take between 10 minutes for repairs and a few days for customizing designs on all gold pieces. For gold sales, investors should first consult with their custodians to determine whether there are flat rate fees, or sliding scale fees.
Flat rate fees remain the same regardless of how much gold is in the IRA while the latter rises with the market value of your account increases. You should, therefore, compare the top business directories to find the best option for you before proceeding to engage in business with them.
Products and services offered
According to the manager who was interviewed recently on national TV, the company purchases certified and uncertified precious metals at competitive prices. They sell the refined jewellery of different quantities especially vintage pieces dating back to the early 19th century. Luxury watches are also popular at fair market value for enthusiasts in California. You need to keep checking the updates on the prices because they are regulated by nationwide price listings.
Selling bullion is the main activity at SBG. However, there are many other products and services involved.
For example, they deal with the gold refinery, custom jewellery designs, rare coins, and diamond purchases. Other services include;
- Jewellery: Engagement Rings, Wedding Bands, Fine Jewelry, Estate Jewelry, Jewelry Repairs, Ring Sizing, Jewelry Appraisal, and Precious Stone Replacements.
- Gold Refinery
- Custom Jewelry Design: Service available to the public & wholesale
- Purchase of: Gold, Platinum, & Silver from public
- Purchase, sale, and Repair of Luxury Watches
- Purchase and sale of diamonds & precious stones from public
- Bullion & Rare Coins: We buy & sell gold, silver, platinum coins/bars, PCGS & NGC certified numismatic coins, and raw coins
You can find more on the latest products and services on their official website.
Do they offer IRAs?
The company does not appear to be partnering with any IRA custodians. None of the IRAs is mentioned on their website. This means that if you need to purchase gold from them with the intention of depositing into your IRA, you should first consult to ensure the products are IRA-eligible.
Buying gold for your IRA can be an easy task with a smooth straightforward process only if you are sure that it is the right company of choice. Not every bullion dealer is partnered with an IRA custodian. Find your trusted custodian to help you make an informed choice.
Can you get the metals delivered home?
The latest policies allow shipment and home delivery.
Can you store with the company?
The company allows registered clients to store with the company. It has enhanced security measures to give confidence to clients to store with them. With only 2 decades in service, the company has garnered high levels of trust and dependability from its clients.
Can you sell back to the company?
You may sell back to the company at will.
What countries are allowed (International shipping?)
Apart from the United States, there is no list of countries where international shipping is allowed yet. Unless the changes appear in future, there is no guarantee that you can get items shipped abroad. This should indicate the slow growth of the company after 20 years of existence and exposure to international customers.
Other reviews and ratings:
Rating: NOT accredited by the BBB
Rating: (4.5 / 5) (out of 50 reviews) click here for details (opens in new window)
Rating: (4 / 5) (out of 84 reviews) click here for details (opens in new window)
As you can see above their online reputation is not impressive at all, in fact it is well lower than average, so please keep that in mind.
**Learn about the #1 rated company instead (with reviews and ratings from most 3rd party consumer protection agencies in the industry)
The pros and the cons
Something that is always wise (and recommended) to do before you decide if a company is right for you or not is to look at its positive sides and compare them against the negative sides. As always we provide you with some clear points on both sides of the spectrum:
- Good amount of reviews online
- A wide range of products and not only gold
- The sell-back policy
- No owner listed on their website
- NOT accredited by the BBB
- Not much of a support system (only a phone nr)
- Some negative reviews
Do you Own or Represent South Bay Gold?
If you are a representative, or associate of South Bay Gold 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
Overall rating: (3 / 5)
Ok, I think this sums up the overall view of this company pretty good, it is a legit one yes. It also got pretty good ratings and a good amount of testimonials, however, there are also some complaints and “not so happy” clients as you can see from the links above. Also, the business is not accredited by the BBB.
The most attractive element about South Bay Gold is their pricing. They also have a wide collection of jewellery to fit many preferences. You can get customized designs of your creative imaginations carved in gold. Jacob is the member of staff, who famed for his affable relations with customers who is seemingly the reason for their loyalty and trust. Most customers seeking repairs of luxury watches and necklaces find the services fast and efficient. However, there are downsides too. For example, one of the most disturbing issues faced by customers is a poor managerial and customer care service. There is a poor response to calls, queries, and questions, and you are likely to be a victim of inadequate communication. South Bay Gold remains a competitive company in the Southwest but with the potential to grow into an international company.
What do I recommend?
You made a wise decision reading this review, and you are a smart person so I am absolutely sure that you will find the right company that fits your particular needs the best, you just have to look at different options and compare them against each other.
Below you can see our top 3 recommended precious metal dealers (depending on what your needs (and budget is):
I hope you found this short review on South Bay Gold to be helpful and now you should have a better understanding on what it is and if it is something 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!
I wish you the best!
Founder of: GoldRetired.com