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GoldCore Review

What GoldCore offers to gold investors

GoldCore is an Irish precious metals dealer and wealth manager. GoldCore offeres a range of the most common coins like Krugerrand, Maple Leaf or American Eagles as well as bullion bars from 1 ounce to 400 ounces. Besides it offers silver bars and coins and platinum investments through Perth Mint Certificates. GoldCore is the EU’s only approved dealer for the Perth Mint of Western Australia.

GoldCore also offers storage services for buyers of bars and coins through its GoldCore Secure Storage service. The GoldCore Secure Storage is a service for buyers of bars or coins. GoldCore offers independent storage by Loomis and Brinks.

Customers can access an online platform where they can execute transactions. Customers can also view market estimates and performance statistics as to the value of their holdings.

The Gold Saver Account is a savings plan based on Perth Mint Certificates.

GoldCore was founded in 2003 and is based in Dublin / Ireland with an additional office in London / UK.

About GoldCore Ltd.

Headquarters Dublin / Ireland
Founded 2003
Employees N/A
Number of clients ca. 4,200
Assets US$ 110 million

The GoldCore Secure storage is a service for buyers of bars or coins.

The Gold Saver Account is a savings plan based on Perth Mint Certificates.

Pre-payments may be made by electronic transfer, debit card, bank draft or cheque made payable to GoldCore Client Fund Account

Product details

Precious metals Gold, silver, platinum, palladium
Minimum investment
  • Minimum 1 ounce gold bullion
Delivery of gold Optional, clients may request physical delivery of their gold. Shipping, importation and duty costs will be borne by the client.
Vault locations Delaware, New York, Salt Lake City, London, Frankfurt, Zurich, Singapore, Hong Kong and Perth
Currencies Euro, U.S. dollar, GBP and several others
Additional features

 

Security rating of GoldCore

GoldCore operates a system of bailment and as such customers’ precious metal investments are held in custody in their name.

Reconciliation to the internal system versus the storage partners details is done on a daily basis. The storage partner will not ship/transfer or remove assets without two signatories, one of which has to be a director of GoldCore. Customers can view the contents of their storage account at any time by visiting the GoldCore website and reviewing the contents, bar numbers and location of their holdings in their GoldCore account.

GoldCore works with an independent audit company, Inspectorate International, who audits the assets held in GoldCore’s secure storage locations. This is done annually and the results of this audit are shared with every customer that has assets in secure storage with GoldCore.

Reconciliation to GoldCore internal system versus our storage partners’ details is done on a daily basis. Annual audit reports are sent to every GoldCore storage customer. All clients have access to the Loomis database of assets maintained by them. Clients are able to review the assets under their sub accounts based on their unique sub account number. Their investments are fully insured through Lloyds of London under Loomis’ Insurance policy, and also through Lloyds of London for Brinks International.

Trustable Gold Safety Criteria

Outright Ownership of 100% Gold Insured, independent storage Transparent, external audit Price transparency Liquidity Regulation Trusted Provider Seal
ok ok ok no Liquidity Trusted Provider Seal
Clients own their gold, it is their legal property Bars and coins are stored by Loomis, pool allocated. Gold is insured. Annual audit reports are sent to every GoldCore storage customer Prices for buying are shown on the website; selling prices are not shown London business hours GoldCore is independent of banks

 

Costs of gold at GoldCore

Costs for buying gold

Spread above spot price for buying:

  • 1 ounce gold bar: 3.75%
  • 10 ounce gold bar: 3.0%
  • 1 kg gold bar: 2.0%

Costs for selling are not shown

Costs for storage and insurance

Storage starting at 1%.

Physical delivery

Clients may request delivery of their precious metal holdings. Shipping, importation and duty costs will be borne by the client.

GoldSaver Account:

Credit Cards will be charged a 2.500% processing fee.

All Buy trades will be charged at 5.000% over the USD London AM Fix on the day of trading

All Sell trades will be charged at 2.000% below the USD London AM Fix on the day of trading

Local currencies will be converted to US Dollars at the prevailing retail rate prior to the day of trading

An Annual Storage Charge of 1.000% will be charged on all stored balances.

Early Termination charge will be 10% of the accumulated investment sum or a fixed penalty charge of €100 / £100, whichever is the greater.

Last update: 07.01.2016

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Further information