(UPDATED 2023) Nowadays, gold buyers are looking for something unique and new. That is why, hand poured bullions are becoming a thing. This ‘Prospectors Gold And Gems Review’ will help you in investigating this company.
Is it legit and not a scam? If so, what about this hand poured bullions of theirs? Moreover, how do they create these gold and silver bars? These are just the questions we will be seeking answers for.
Additionally, I will be looking at some reviews and ratings about their business. In addition, we will be investigating if selling to them is a good thing. As such, this good read will enlighten you about a plethora of things about this company.
Without further ado, let us start this ‘Prospectors Gold And Gems Review’!
Prospector Gold and Gems Review Quick Summary
Name: Prospector Gold and Gems
Founder and CEO: David Emslie
Promotion: Handmade golds and buyback program
What is Prospector Gold and Gems?
Since 1999, Prospector Gold and Gems, a Colorado-based firm has been manufacturing their own gold and silver bars. Interestingly, they claim to have the same level of authenticity and uniqueness to that of bars created from machines.
Furthermore, they are a direct refiner of the said precious metals. To add, they also create and distribute jewelries, coins, and other essential products. Rest assured, I will be mentioning which among these items are worth it.
Going back, they also have a two-way market. That is, they allow buying and selling of precious metals, provided that they meet certain standards. Consequently, the bullions that the company buy is refined into items with 99.9% purity.
As for their team and staff, they are more than competent and accommodating. As mentioned, you can personally forward your inquiries to them at their physical store. After all, a business would not stay afloat if not for this excellent customer service.
Also, they provide their customers and clients with educational resources. As an example, they have videos on the process they conduct to create their products. You can check them out at their YouTube channel.
That being said, is Prospectors Gold and Gems the best bullion dealer for you? Can this company cater the needs of those who wants to invest in gold and silver? For this, I suggest continuing to the next section.
Products and Services
Occasionally, they have stock for gold nuggets, coins, and items such as paydirt bags and gold vials. Unfortunately, they are yet to introduce other precious metals in their inventory such as palladium and platinum.
To add, they also do not offer IRA services. True to their words, they are strictly sticking to the minting and distributing business only.
To further elaborate, they have offerings for bullions with varying designs and weights. As an example, you may find bullions of different shapes, lines, and finishes. What’s more, they have a distinct brand of products.
Naming a few, here are some of their items:
- Don’t Tread On Me (Silver Bars)
- Silver Cob Rounds
- Prospector (Gold Bars)
- Skulls and Crossbones (Gold and Silver Bars)
As you can see, their list is relatively too small compared to other precious metals company. However, they compensate for this by selling these items at different weights. Weights ranging from 1 to 10 ounces are available on their website.
Conversely, there are a lot of websites that has a better inventory of products. For one, they also offer a lot when it comes to unique designs. Companies such as Goldco is one of them.
Now, we already have talked about what they can offer us. However, what about their method of buying from us? More on this is available on the succeeding sections.
How Does It Work?
Before proceeding, let me introduce you to how simple their method of transaction is. Normally, companies would ask you to create an account on their website. Others, however, are stricter and require you to call them.
But, Prospector Gold and Gems isn’t one to complicate things. First, you choose you items. Next, you proceed to the checkout section to validate your items. And then, you can proceed to paying for it.
Indeed, it is a fast way of transacting. Although, the payment option will be limited if you are shopping online. This is due to the fact that they are only accepting PayPal payments.
Now, what about selling to them? Well, they do accept a lot of golds. A list below shows what the company is willing to accept
- All karats of gold: 9k, 10k, 12k, 14k, 16k, 18k, 20k, 22k and 24k
- All colors of gold – red (rose), yellow, and white
- Placer and natural nugget gold Lumps of unknown gold/melted gold alloy, dental gold Broken jewelry in any condition.
- Gold coins
Accordingly, they do not accept any items that are gold-plated. Equally important, they have lower rates for scrap gold. Following standard procedures, the following steps are to be followed:
- Documentation and Shipping
- Examination and Recording
- Metal Verification
- Test and Assay
Prices and Fees
Similar to other bullion and precious metal companies, Prospectors Gold And Gems base their product prices on the spot price of each type of precious metals.
With this, their prices may change from time to time. But don't worry because Prospectors Gold And Gems' website has a product catalog that shows the prices of each product available.
This is very convenient for all investors since they don't have to contact the company to know how much they would pay for the products.
As for the fees, the website only stated that they have refining fees. There are no further information on this. You just need to contact Prospectors Gold And Gems to know more about their fees.
Prospectors Gold And Gems Reviews and Ratings (Updated September 2023)
In Your Gold IRA Guide, I always value the online ratings and reviews of a precious metals company, considering that they share what clients experienced with the company.
Below are the updated Prospectors Gold and Gems reviews and ratings.
- Better Business Bureau – accredited since January 2012, A rating On 04/26/2023, BBB revoked its accreditation due to failure of meeting the BBB's requirement that accredited businesses must adhere to. Also has one complaint that accuses the business of selling fake products
- Birdeye – 4.4 out 5 rating based on 51 reviews
- Yelp – 3.2 out 5 rating based on 5 reviews
- Facebook – 4.7 out of 5 rating based on 36 reviews
As listed, Prospector Gold and Gems is somewhat lacking in the reviews and ratings department. As potential clients, it would be a delight if they have ratings from Business Consumer Alliance or Trustpilot.
Moreover, it is alarming that the BBB Board of Directors revoked the accreditation of the company.
Although specific information was not provided, this is enough to alert you and check out other companies with thousands of positive ratings and reviews, such as Goldco.
Pros and Cons
To conclude, this 'Prospector Gold and Gems Reviews' managed to investigate this company in a comprehensive manner. In the simplest of terms, it is a legitimate company and is not a scam.
It does provide real products, has a business address and a legit website. Furthermore, it is a unique bullion dealer. How so? It is because of the availability of hand-made bullions. Frankly speaking, these items are hard to come by in the market.
Consequently, they also allow a two-way market in which they buy metals from you. It goes without saying, extensive research and examination of your metals are done.
However, there are some things that you need to know before proceeding to conduct business with them. That is, they have no IRA services and the items they have are not verified for IRA usage.
Moreover, the BBB Board of Directors revoked Prospectors Gold and Gems' BBB accreditation because it failed to follow the BBB's standards.
As such, it is essential to look for better alternatives to give you a better and easier time investing. Goldco, a top rated Gold IRA and precious metals firm, is ready to help you.
For any comments and suggestions, do leave them at the appropriate section below. As usual, these are appreciated and is useful to improve my articles. Once again, thank you for reading this 'Prospector Gold and Gems Reviews'.