GoldBroker is a gold and silver dealer and stores all your gold or silver solely under your name. The company works almost worldwide and offers cheap storage and low gold and silver prices.
This post covers in detail all aspects of the company and provides sources where you can find more information about the company.
Buying Gold and Silver Offshore
While each state has it’s own individual taxes on gold and silver products, in most of the states, there is no sales tax on investment-grade gold and silver products, such as coins and bullion.
In fact, only the following states have sales tax between 4% and 14%:
Alabama, Arkansas, District of Colombia, Hawaii, Kansas, Kentucky, Maine, Minnesota, Mississippi, Montana, Nevada, New Jersey, New York, North Carolina, Tennessee, Vermont, Virginia, West Virginia, Wisconsin, Wyoming.
In some states, you can get some gold and silver products (usually coins) with sales tax exemption only when buying, for example, over $1500. Such states include:
California, Connecticut, Florida, Louisiana, Maryland, Massachusetts, and New York.
Gold and silver products are free of sales tax in all other states as far as I know. If interested, you can find more information about taxes on precious metals in each state here.
The good news are that you can avoid any taxes on gold or silver if you will buy, store and sell it offshore! The best company to do this is GoldBroker.
What is this company?
GoldBroker, found in 2011, is an offshore physical gold and silver investment and storage company, officially registered in Malta – offshore banking, insurance, and tax heaven.
This broker has offices in New York, London, Hong Kong and Malta, but the company offers its services in almost all countries.
For example, U.S. investors do not need to report their holdings with GoldBroker. This is because investors are direct owners of their gold or silver and GoldBroker is not a custodian of precious metals.
The company is for bigger players and the minimum order is $10,000.
What offers GoldBroker?
GoldBroker sells, buys and stores gold and silver. The main difference between this and any other company is that GoldBroker opens your own storage account in the vault.
After your purchase of gold and silver, GoldBroker stores all your gold and silver completely under your own name entirely outside of the banking system. Your precious metals are stored in one of the four, fully insured vaults in Switzerland, Singapore, Toronto or New York. In fact, you can choose where you like to store your metals after purchase. All GoldBroker storage details can be found here.
GoldBroker also ships your metals shipped directly to you, but unfortunately, shipping is available only to France and the US. Because of only these two shipping options, GoldBroker is much better at storing gold and silver.
Shortly about GoldBroker
Storage fees of your gold and silver depend on your investment size, but starts at 1.5% per year and decreases with the increase in stored metals value. All GoldBroker fees can be found here.
You can sell your own gold and silver back to the company at any time. They will charge only 1% commission (minimum $75) which is quite low compared with other companies.
The company allows you to visit the vault. Moreover, you can personally pick up your bought metals if you would like to for a $200 fee.
Overall, GoldBroker has good reviews on the internet, both on Trustpilot and Facebook. However, there is quite a small number of reviews.
This is because the minimum order at GoldBroker is $10,000 so fewer people afford GoldBroker service.
On the other hand, most reviews are very positive. Check them by yourself below.
Conclusions - Why GoldBroker?
In conclusion, GoldBroker is a gold and silver broker registered in the VAT-free zone – Malta. This broker specializes in storing your gold or silver under your name in one of the vaults around the globe.
Because of the minimum investment of $10.000 unfortunately, not everyone can afford it. Moreover, GoldBroker offers average storage fees. In fact, the fees start at 1.5% of your investment per year and decrease with investment size.
GoldBroker makes you the only owner of your gold and silver. Moreover, you will pay no taxes if you will buy, store and sell gold and silver within the company.