Want to invest in precious metals, and you are considering Gold Republic?
No worries! I have already done my research and I will work you through that in this Gold Republic review.
The fact remains that investing in Gold, Silver and other precious metals is the best way to protect your wealth against economic downturns and inflation. And at the same time ensure that you protect your assets, and grow them after retirement.
Top Pick
Gold Republic
Buy physical gold, silver, and platinum online and sell it anytime you want
Has a buyback program, you can leverage the monthly saving plan of 50 Euro to save up and buy gold. Has 3 different locations as vaults to store your metal and your metal is highly secure. You can keep your metal in your house, plus lower fees and superb customer support
What is Gold Republic?
Gold Republic is an Amsterdam-based precious metal company that sells and stores gold, silver, and other precious metals for its customers.
Marleen Evertsz and Alex Butter founded this company in 2010 after the economic downturns that hit the world in 2008 which affected the so-called safe investments.
They realized that Gold is an investment that is worth having and wanted to remove the bottlenecks and shady deals that made it difficult for people to invest in gold in a transparent and safe way.
Ever since it came on board, it has become one of the leading providers of precious metals in Europe and around the world. This achievement made the former CEO of SHV Holdings, Piet Klaver become a shareholder in the company.
Pros of Gold Republic
Cons of Gold Republic
Services Gold Republic Offers
Gold Republic opens an online account for you. This gives you access to invest in gold, silver, and platinum bars. They sell gold, silver, or platinum metals to you and also help you store them if you want.
Its metal price calculator shows the amount to pay for any weight of gold, silver, and platinum you want to buy. It has 3 vault locations where you can store your metal – Switzerland, Germany, and Netherlands. It supports you to withdraw your bullion at any time and sell it.
You can even leverage the buyback program to sell your metal to them at a competitive price.
Other Services Gold Republic Offers
Apart from opening a precious metal account, and facilitating the purchase and storing of your precious metal, Gold Republic has B2B services it offers.
Trading Platform
Gold Republic offers financial institutions like banks and online brokers that have an interest in trading physical bullion the platform to do so.
Interestingly, Gold Republic trading platform can integrate seamlessly with a client’s existing trading software using a different interface. This is a perfect match for players in financial institutions who want to make more money trading precious metals.
Systems for Assets Managers
For asset managers looking for simple systems to offer physical bullion products to their customers, Gold Republic has one in place. It has a multi-account trading environment that allows asset managers to trade and manage bullion positions for their customers.
AFM License to Partners & Customers
The Netherlands Authority For Financial Market(AFM) license is one that every precious metal company in the Netherlands must have.
Gold Republic which is based in Amsterdam not only has this license but also transfers it to its partners and customers. Thereby empowering them to buy, store and sell physical gold and silver.
Gold Republic Buyback Program
Just like Augusta Precious Metals and Regal Assets, Gold Republic has a buyback program. This allows you to liquidate your physical gold, silver, or platinum metals to Gold Republic at a competitive price.
However, this offer is available only to customers that didn’t store their metals at home.
So if you bought physical precious metals from Gold Republic and requested it shipped to your location, so you can store them yourself, the buyback program isn’t for you.
You have to find people who will buy it from you.
Gold Republic Fees
Let’s look at the fees associated with buying, storing, or delivering your bullion.
Delivery cost
1% of the total amount of bullion you bought is charged as the delivery cost to any of the vault locations of your choice in Switzerland, Germany, and the Netherlands. If you want to be delivered to your home, Gold Republic will quote the transportation cost – this depends on the weight of the bullion you bought.
Product cost
The cost of producing each of the bars varies depending on the bar volume and the metal you want. Below is a screenshot of the product cost in a table:
Reserve Bullion Registration
When you hold enough gold, silver, and platinum to make up a standard bullion bar, you can decide to register them against your name. After which they become Reserved Bars and a property you own exclusively. The cost of registering varies also and depends on vault location, bullion, and metal.
Below is the screenshot for the fees:
Buying, Selling, Savings, Transaction, Storage, and Handling Fees
These fees also vary based on vault location and the metal involved. Transaction fees are only applicable to savings buy orders.
Take a look at the screenshot below to see them in detail:
Note that all fees are charged per year.
If you plan to buy bullion that is over $500,000 contact Gold Republic for a custom offer.
Notable Partners That Work With Gold Republic
To show you that Gold Republic is a company you can trust when it comes to buying bullion, here are the following partners it works with:
- Alex Stewart International: It independently audits its investors’ holdings.
- Looming Brinks: Operates the vaults where customers’ bullion are stored.
- LBMA: Accredited refiners that cast “Good Delivery” bars.
Minimum Investment Fee
Unlike Augusta Precious Metals and Goldco which have $50,000 and $5,000 as their minimum fee respectively, Gold Republic has its own at €50. This is a monthly plan that allows you to save up huge amounts to buy physical gold, silver, or platinum. So you don’t have to break the bank; Gold Republic has spread the payment, thereby making it easy for everyone that wants to buy bullion.
Funding Your Account To Buy Physical Gold, Silver & Platinum From Gold Republic
If you have a European (SEPA) bank account, it’s easy to make a payment of €50 to your monthly savings plans. Gold Republic partners with SEPA and your account will be debited monthly.
You enjoy a 50% discount on normal fees Gold Republic charges for all saving orders on the first business day of a new month. This is an incentive to encourage you to continue to save to purchase precious metals.
What if you have a non-SEPA bank account?
You can do a wire transfer for the same amount Gold Republic buys gold, silver, or platinum but against the same discount.
Keep in mind that bank charges for wire transfers may be high, not to justify the monthly savings plan to buy any of the precious metals.
Gold Republic Shop
In its bid to enlighten you more about precious metals, the risk factors in them, and the chances of growing your wealth with them, Gold Republic launched its shop.
Currently, it sells more books related to money, gold investment, and the rise of Bitcoin, while gold will continue to be a valuable asset.
Here is a screenshot of the books at the shop:
Interestingly, Gold Republic gives you free one gram of gold when you purchase any of the books.
If you’re in Europe, your order will be processed and shipped within 2 business working days. The shipping costs are calculated at checkout, so you know the total amount to pay.
Gold Republic also has a return policy for its books. 14 days from when the book reaches your location, you can return it only if it’s in a good condition. Through post, you can return any of the books to their distribution center in Hasselt.
Note that digital products (audio and e-books) can’t be returned.
Customer Service
You can reach out to a customer support assistant for help via this number +31207946021 (Mondays – Fridays, 09: – 18:00)
Gold Republic also has a contact us form that you can use to send messages to the support team. Or you can email them directly at support@goldrepublic.com.
It has its head office as:
Herengracht 450
1017 CA Amsterdam
The Netherlands
So you can walk in there if you’re around Amsterdam.
You can follow up on social media platforms like Twitter and Facebook for updates.
Gold Republic offer live chat support. This means you can get immediate assistance.
Other precious metal companies like Regal Assets, Goldco, and Augusta Precious Metals also offer live chat support on their websites.
How does Gold Republic work?
To invest in bullion with Gold Republic, here are the following steps to take:
Open An Online Account
The first step to investing in physical precious metals with Gold Republic is to open an account. The process is simple:
- Choose a username
- Enter your email address
- Create a password
- Confirm your password
- Then click Create Account
- Place order for bullion
When you place an order, Gold Republic transmits it to the refiner. The refiner will supply a new-minted bar. You are the sole owner and can co-own it with someone else.
Transportation to the vault
Gold Republic transports the newly minted bars to its vault based on the location you chose (Germany, Switzerland, or The Netherlands). To ensure maximum security, an armored truck moves it to the vault, and it is insured.
Home Storage
If you don’t want Gold Republic to store your bullion, you can have it delivered to your location. Additionally, charges may apply, and no insurance cover.
Gold Republic Review & Ratings
It has 5-star ratings on Trustpilot from 58 reviews and 4.7 ratings on Google My Business.
Gold Republic Alternatives
Let’s look at some alternatives to Gold Republic:
- Goldco
- Augusta Precious Metal
- Regal Assets
- Birch Gold Group
- Noble Gold Investment
How does Gold Republic compare with the top 3 alternatives?
Augusta Precious Metals offers Gold IRA, while Gold Republic doesn’t. So you can’t rollover your traditional IRA to precious metal IRA on Gold Republic. While Gold Republic has a lower investment fee with its €50 monthly savings plan, Augusta Precious Metals has a minimum investment fee of $50,000
Goldco offers precious metal IRA, while Gold Republic doesn’t. The minimum investment fee on Goldco is $5,000 which is higher compared to that of Gold Republic.
Regal Assets offers cryptocurrencies IRA, while Gold Republic doesn’t. Its minimum investment fee is higher than Gold Republic.
What I like about Gold Republic
Gold Republic is the perfect choice if you want to invest in bullion and buy physical gold, silver, and platinum. Its minimum investment fee is affordable, and you can even leverage the monthly savings plan to grow your account before you purchase precious metals.
You can sell your bullion at a competitive price and withdraw your funds anytime. In addition, the storage, and insurance fees aren’t high compared to Augusta Precious Metals and Goldco.
Final thought on Gold Republic
Gold Republic is suitable for small investors that want to buy physical gold, silver, and platinum with a small amount. Its services are top-notch, and it gives you total control over your bullion. In fact, you monitor everything from your online account.
That’s like keeping a tab with your money in the bank via a mobile app. You aren’t stuck with your metals, you can sell it back to Gold Republic using the buyback program or even sell it to other buyers you found yourself.
The downsides of it are that it doesn’t offer precious metal IRA.
