Goldmart Review (A Huge Scam Revealed?!) (Updated 2022)

April 14, 2022

Goldmart Review

Welcome to my Goldmart Review.

(UPDATED 2022)

If you ever found yourself in a situation wherein you are thinking whether you should buy from Goldmart.com or not, then you need to make some thorough research about it first.

Let me help you with that. I have written this Goldmart Review to give you everything you need to know about it.

It is unbiased and a complete review of the company. Without any further ado, let's get to know if it is legit or a scam.

If you’d like to skip right to our number-one choice in gold IRA companies, check out Augusta Precious Metals here!

Goldmart Review Quick Summary

Name: Goldmart

Website: http://www.goldmart.com/

Founder: Nicholas VanderLaan

Price: Varies depending on your investment

Rating: 1/5

Goldmart Review logo

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What is Goldmart?

Goldmart is an online seller of precious metals. It was founded by the former NBA basketball player, Nicholas VanderLaan, in 2009.

Initially, the company's name was Legacy Precious Metals. But in 2011, its website was launched to provide its clients better access to precious metals. The website is named Goldmart.com.

According to Goldmart, it offers everything that a coin shop sells but the prices are 3% to 4% cheaper.

Goldmart is currently based in Carson City, Nevada.

Note (December 2020): At the time of writing this review, I can't access the company's website. It might be under maintenance or it is down.

Goldmart Products and Services

Goldmart offers a wide selection of gold, silver, platinum and palladium products. They come in coins and bullion bars.

1 oz American Gold Eagle is among them. As for IRA services, Goldmart instructs its clients to choose from four of IRA custodians:

  • Sterling Trust Company
  • New Direction IRA
  • Self-Directed IRA Services
  • Goldstar Trust Company

Unfortunately, the website is inaccessible currently. We can't check if it has a product catalog.

However, since it is an online seller, chances are, you can order online, which means that the website has a complete product catalog. 

Goldmart Costs and Fees

Fees for IRA services vary depending on which IRA custodian you will choose.

It is quite unsure if the website shows the prices of each product. Some companies do not give any price information openly due to competitive reasons.

How to get started?

Just like other online sellers, you can purchase products from Goldmart by creating an account in its website.

Then you can check out the products in the catalog and put the ones you like in your online cart.

After that, you can proceed to the checkout and pay for the products. You will then wait for the delivery.

Goldmart Ratings and Reviews

Currently, there are only 3 websites that have ratings and reviews of Goldmart. Here they are.

  • BBB - 1/5 rating and not BBB accredited with 2 reviews
  • Yelp - 2.5/5 rating with 10 reviews
  • Resellerratings - 4.67/5 rating with 632 reviews

These ratings and reviews are not impressive. There are a lot of companies out there with better ratings and reviews.

Moreover, BBB is one of the websites that are trusted when it comes to ratings and reviews. Sadly, Goldmart is not even BBB accredited.

Goldmart Pros and Cons

Pros

  • Wide variety of products
  • Can order online

Cons

  • Website is down or under maintenance
  • Poor ratings
  • Lacks reviews
  • Not BBB accredited

Is Goldmart a scam?

To end this Goldmart Review, let's find out if it is legit or a scam. Despite the fact that its website is down and that its ratings and reviews are poor, Goldmart is not a scam.

It is a legitimate company that offers real products and services. Moreover, it has its own headquarters. There are no complaints or red flags regarding it being a scam.

However, when investing in precious metals, it is always better to deal with companies that have good reputation and services.

If you wish to know the top recommended precious metals dealer, check it out below.

Thank you so much for reading my Goldmart Review! If you have any comments or questions, feel free to leave them in the comments section.

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