There are varieties of precious metal dealers to choose from in case you want to make investments. Making a choice can be overwhelming because many companies in the precious metals industry offer varieties of metals for investment and collection.

The wealth behind precious metals makes this industry a huge prospect for anyone who wants to get rich. Wouldn’t you go for these precious metals if given a chance?

A bar of gold or silver is a huge starting point for those who would prefer hedging or just want to make long-term retirement plans.

However, you need a reputable and dependable company to offer you these items. Honest pricing and transparent transactions should be a top priority when choosing a service provider.

Goldworth is one of the companies claiming to offer such straightforward terms. But is the company legitimate or a scam you should avoid?

Read on to learn more:

General description of the company

The company ran legitimate operations when it was first created. It started operating in 1999 in Woodland Hills, California, dealing with a wide variety of products.

Many clients trusted this company because of its direct access to foreign markets, making it the most reliable and affordable company for overseas clients.

The ability to access foreign markets with ease enabled the removal of high foreign exchange rates. By so doing, clients could be able to access different products without the need to have foreign bank accounts.

Being one of the members of IPMI (The International Precious Metals Institute), CCE (Certified Coin Exchange), ICTA (Industry Council of Tangible Assets), and NACA (North American Collectibles Association) helped drive its reputation to a notch high.

Furthermore, the easy access to foreign markets helped fend off middle markets, often leading to the hike in prices. It could be the very reason why they received huge ratings regarding their pricing. Besides, they offered insured storages ran by their preferred independent depositories and shipping in various places within the United States.

Goldworth Financial review

The company began as a prominent seller of precious metals such as gold, silver, and more. They often had a strong stance that their provisions included high-standard industry products and services. They were a great place for new investors and those who preferred investing in bulky precious metals.

But right now, the company is shut down indefinitely, including pulling down their website without any notice. The site cannot load regardless of the browser you may choose to use.

Besides, the company’s main office at 6520 Platt Ave STE 17, West Hills, California, is no longer in operation. Many people are speculating about the company’s closure, but not much is watertight. When they went out of business, no press releases were issued, leading to several speculations from different quarters.

This sudden shutdown left current account holders hanging, and they can’t find any of their representatives to explain this predicament.

Reasons for shutting down

People who had made investments in the company were never informed when Gold worth shut down. According to experts, the company stopped operating because of poor management.

Poor accounting of resources and finances can result in the breakdown of reputable companies. They might have run into some issues with managing their resources which in some way led to a shutdown.

It’s quite unfortunate that the company started well during its inception. They had a huge reputation, and many investors were satisfied with their operations.

However, there are other existing theories connected to the abrupt shutdown in business. We don’t know if they’re true, but speculations are rife since they shut down the business, even without issuing a press release.

According to one of the theories, the company might have been subject to Government scrutiny because of complaints from various people.
Relevant Government agencies can act if a precious metal dealer cannot give answers to particular concerns.

This kind of predicament can affect the reputation of a company. With time, notices might be issued implicating the company, which might make them want to close down to avoid more damaging effects.

How does it work?

The company dealt with various precious metals, including silver, gold, palladium, and platinum. Besides, they had IRA-eligible metals.

In addition to that, they provided bullion coins, foreign coins, and rare coins. First State Depository was their preferred storage service. Their preferred IRA custodians included Equity Institutional, Equity Trust, New Direction IRA, and Sterling Trust.

Price

The following are the breakdown of fees they offered:
• Set up fee ranged between $140 and $290
• Admin fees were between $75 – $295
• They offered 0.6% of account value as Storage fees

Other additional fees we’re not known. However, when you contacted the company, they revealed the fees.

Pros

• It was relatively easy to buy and sell coins
• No hike in prices because of the direct access to foreign markets
• Provided satisfying services when they first started off
• Varieties of precious metals such as gold, silver, palladium, and platinum
• Affordable pricing

Cons

• Poor management of the company led to a shutdown without notice which led to investors questioning its legitimacy.
• Pulling down their website without notifying its clients
• It was difficult to verify old or rare gold coins
• Unresolved complaints which led to Government scrutiny

Final verdict

Everyone, including those who made investments with Gold worth, should know that the company is not in operation anymore. The company started well, dealing with varieties of precious metals and coins. Most investors were satisfied with their services and operations. Plus their affordable pricing, they received a huge reputation among many investors.

However, due to some reasons such as poor management, lack of proper accounting of resources and finances, the company had to shut down abruptly. This made many people who had now faced the reality of its inexistence to question its legitimacy.

Therefore, it’s important to know that the company is not in operation, to be careful in case anyone calls you and poses as their representative.