Goldcore Review

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Goldcore is one of the leading precious metals investment companies in Ireland. Since being established, it has garnered a positive community reputation and expanded to offer shipping to 45 countries. There are offices located in both Dublin and London, and shipping is available to the US.

But how does this company compare to the competition? And are the services that they offer actually legitimate? Here are the basics that you should know.

  • Product Type: Precious Metals
  • Owner: Samuel Gold
  • Rating: 4.0/5

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About Goldcore

Goldcore Review

Goldcore has been operating out of the Republic of Ireland since 2003. The company is a precious metals specialist that works to make investing accessible to everyone. They help people understand the benefits and risks of precious metals without getting bogged down in jargon.

Since first being established, the company has been reviewed positively thousands of times. They now have an office in London as well as Dublin. Their three main countries that they ship to are Ireland, the UK, and the US, but there are 45 total international places that they can send packages to.

Goldcore is the only dealer in the European Union that has been approved to sell items in the Perth Mint Certificate Programme. They have also won awards and been the subject of international media attention for their expertise.

The company has audited accounts that can be viewed through the Irish government's company register. This helps to establish their financial stability and any potential liabilities. There is a high level of transparency regarding their inventory, investments, and future plans.

In addition to selling gold and silver bullion, the company also has a variety of services. They provide secure storage with audited holdings through several partners. Items can also be shipped to you with full insurance.

As they are not a US-based company, they do not offer precious metals IRA services.

Buying Gold and Silver

Goldcore Review

The process for buying gold and silver through the company is fairly straightforward.

The first step is to open a company account. You'll give the company documentation regarding your identity, set up the trading account, and be given information on paying for your purchases.

As you talk to a representative, you'll be given advice regarding the best gold and silver products for your goals. The company has handled over $1 billion in total transactions and has more than 14,000 clients around the globe. They have a high level of experience in coordinating the purchase and storage of silver and gold.

There are several different accounts that you can open. You can use every account except the GoldSaver to get both Perth Mint Certificates and precious metals.

Account Options

Goldcore Review

These are just some of the accounts that you can create when you start working with Goldcore:

  • Personal accounts for individual private investors.
  • Joint accounts for multiple individual private investors to share.
  • Corporate accounts, which can include trusts, corporations, charities, and other entities with a registered representative.
  • Pension accounts, which are for people who want their pensions to be held partially in precious metals.
  • GoldSaver account, which lets you save pre-set amounts of gold for at least 12 months.

With the GoldSaver option, you must commit to at least 12 months of investing in the same amount of gold. But once that time period is up, you can sell your metals, have them delivered to you, or continue to save using the program.

Customer Identification

Goldcore Review

According to Irish law, precious metals dealers must be able to identify their clients. While this might be an inconvenience, there's really no getting around it. Any company in Ireland that sells you precious metals without verifying your identity is operating illegally.

To confirm your identity, all you need to do is take a picture or scan of your ID. Then you can email or mail it to the company. You'll need to provide your license, government-issued non-driver's ID, or passport. It's also required that you give proof of residency like a bank statement or tax document dated within the last six months.

It's easy to upload your documents to your account as well. That way, you don't even have to go through all the hassle of email.

If you want to receive Perth Mint Certificates, there are other requirements you'll need to meet. The company details these in the email you receive once you open your account.

Funding the Transaction

Goldcore makes it simple to fund your transactions. You can either use bank transfers, credit cards, or debit cards. Credit and debit cards give you a faster processing time, and you can use them for transactions of up to $50,000 at once. Bank transfers are inexpensive and can be used for any type of purchase.

All of your funds will be held separately from the company's funds in your account, so you don't have to worry about your money being misused. When you use a credit or debit card, there will be bank charges of a certain percentage of the transaction.

Storage Services

Goldcore Review

Goldcore offers a variety of secure storage options through their storage partners. Their storage services are a big draw of the company, especially for first time investors. If you're not sure about the best storage options for your investment, you might want to use Goldcore's services.

Some of the benefits of the company's services include:

  • Global storage options in tax-advantaged jurisdictions.
  • Segregated storage with full physical ownership.
  • Independent auditing by third parties to ensure your account holdings are backed up.
  • Ability to have your precious metals delivered.
  • Ability to visit the vault and inspect your holdings.
  • Easy liquidity when the time comes to sell your assets.

Goldcore is not the only company to offer storage with these benefits, but it does have some of the widest available options.

Storage Locations

Goldcore Review

Storing your precious metals in the right place is important. While you might be tempted to keep them at home, that can make them vulnerable to theft, disaster, and loss. Storage facilities give you a chance to have your holdings securely deposited in a tax-advantaged location.

Goldcore is partnered with two of the largest depository companies in the world, Brinks and Loomis. Every account with these companies is insured for the full value of its contents. You have the choice of depositories in Ireland, Singapore, Hong Kong, and Switzerland.

Many of these countries have specific tax advantages for precious metals investors. They also tend to have stable governments and safe environments to hold your items.

Storage Rates

Goldcore Review

Goldcore has storage rates that are calculated by a percentage of your holdings. This can be a disadvantage, because it means that you'll pay more every year that you have more gold and silver in your account. However, the more you store, the lower the percentage rate becomes.

When you invest more than $750,000 in gold, your storage rate is just 0.49% of your holdings. For accounts holding less than $100,000, that rate is 1 percent, which is still relatively low. Similarly, accounts holding under $100,000 in silver are billed at 1% annually. When you have over $750,000 in silver, the rate is just 0.75%.

The company is very transparent about how the different storage fees are calculated and applied. You will pay them once every three months.

Auditing

Goldcore Review

Auditing is a vital part of precious metals storage. A third party will go through your account to verify the quality and authenticity of the holdings. They will confirm that your account value reflects your purchases.

There is also a certain level of auditing done on a daily basis. At the end of the day, if there is any discrepancy between your Goldcore account and your recorded storage holdings, Goldcore will investigate this and resolve it as quickly as possible. Full audits of all of the physical inventory are done on a yearly basis.

Is Goldcore a Scam?

Goldcore Review

Goldcore is not a scam. This is a legitimate business, and it's one of the most successful precious metals dealers in Ireland. Since being founded in 2003, it has grown to ship metals to 45 global countries including the US. The employees of Goldcore are specialized in their precious metals and economic knowledge.

Goldcore has largely positive customer ratings with feedback from several thousand previous clients. They offer a huge range of gold and silver bullion choices. In addition, they have a variety of extra services available to investors.

All in all, this is definitely a solid company to invest with. However, if you're in the US, you might find that a different company will suit your needs better. You may get faster shipping from another US company, and Goldcore also doesn't have IRA services.

Pros & Cons of Goldcore

Pros

  • Several thousand positive online customer reviews.
  • Wide range of precious metals to choose from.
  • Shipping to 45 countries, including the US and most of Europe.

Cons

  • Not the best company for Americans who are seeking IRA services.
  • International shipping may be slower than purchasing metals from a company in your own country.

Final Thoughts

Goldcore is a solid company that has been established as a leader in the precious metals business. With headquarters in Dublin and another office in London, they are a global dealer that can ship to the US and 45 different countries.

The company has garnered a lot of positive customer feedback. People praise the helpfulness of the customer service team, the ease of the transactions, and the quality of the final products. This seems to be a good company to invest with, especially for European buyers.

Just keep in mind that if you're in the US, you might fare better with a company that's more local. Goldcore doesn't offer precious metals IRA services, since they aren't experts in American tax regulations or retirement accounts. So if that's what you're looking for, you'll be better off looking for a company that specializes in this.

Overall, we believe that there is a better option when it comes to your investment.

The above company is our top recommendation after doing extensive research. Feel free to keep doing your own research, or you can visit Goldcore below!

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