The Goldstar Trust Company Review: Is It Right for You?

• Goldstar Trust Co. is one of a select few investment firms that specializes in physical precious metals.
• The company sells gold, silver, platinum, and palladium bars, coins, and bullion rounds.
• It also sells numismatic coins.
• Goldstar Trust Co. is headquartered in Albany, New York.

Goldstar Trust Company, LLC, is an investment firm that specializes in precious metals investments. Established in 2003, the firm's securities are marketed to wealthy individuals, businesses, and institutions. Goldstar Trust Company is headquartered in Albany, New York.
Goldstar Trust Company offers clients the opportunity to invest in physical gold bullion or gold-backed securities. In addition to precious metals, the company also offers coin collecting and numismatics.

Pros Explained

Customers may deposit into or add money to their Goldstar accounts via check, wire transfer, and credit card.
There are no maintenance or inactivity fees.
The account offers free wire transfers, and cash can be deposited at over 300 bank branches nationwide.
Goldstar allows unlimited deposits and withdrawals.

Cons Explained

Goldstar allows only three withdrawals a month.
The company does not provide account statements, so customers must keep careful track of their transactions.

Cons Explained

Goldstar Trust is a no-load fund that charges an annual fee of .75% or $25, whichever is greater.
Goldstar Trust also offers a gold-backed IRA, but the annual management fee is 1.25%, which is quite high.
Goldstar Trust only allows you to purchase $25,000 worth of gold at a time.

Goldstar Trust requires a minimum investment of $1,000.

Goldstar Trust does not offer a buy-back program.

Goldstar Trust does not provide any portfolio diversification.

Goldstar Trust is not insured by the Federal Deposit Insurance Corporation (FDIC).

Goldstar Trust does not offer a managed account.

Available Services

The Goldstar Trust offers a few investment options in the form of asset-based accounts. These include:
Goldstar Gold Bullion Trust

Goldstar Cash Trust

Goldstar Silver Bullion Trust

Goldstar Platinum Bullion Trust

Goldstar Palladium Bullion Trust

Goldstar Platinum & Palladium Bullion Trust

While Goldstar's website doesn't detail the difference in features of each account, there are other resources available. Goldstar's Gold Bullion Trust (GBT) product, for example, is valued by investors for its low fees, competitive underlying asset performance, and relatively low minimum investment.

Customer Service

Goldstar Trust's customer service department is open from 9:00 a.m. to 5:00 p.m. (ET), Monday through Friday.
Branches
Goldstar Trust does not operate any physical branches. However, it does have a network of independent financial advisers across the country.

Available Account Options

Open an IRA, Roth IRA, or SEP IRA with Goldstar.
A custodial account is also available.

Assets
Goldstar offers three tiers of gold bullion: 1 oz., 1/2 oz., and 1/10 oz.

Goldstar charges $6 per transaction, which is waived for IRA accounts.

The account minimum is $1,000.

Goldstar charges an annual fee of $300.

Goldstar charges a $30 account-opening fee.

Available Investments

Goldstar offers five different funds, all of which invest in gold:
Gold (PHYS): This fund invests in physical gold held by the custodian, the Brinks Company. All funds in this plan invest in this fund. The fund invests in gold bullion, coins, and certificates, as well as shares of various gold producers.

Gold Bullion ETF (GLD): This fund invests in physical gold held by the custodian, the SPDR Gold Trust (GLD).

Gold Miners ETF (GDX): This fund invests in gold miners and explorers.

Silver Bullion ETF (SLV): This fund invests in physical silver held by the custodian, the iShares Silver Trust (SLV).

Silver Miners ETF (SIL): This fund invests in silver miners and explorers.

Fees
The Goldstar Trust charges an annual 0.48% fee. If you invest less than $25,000, your fee is $50. If you invest more than $25,000, your fee is $24.

Account Opening Requirements

• Minimum $5,000 balance

• $250 minimum deposit to open account

• $5 monthly maintenance fee

Fees for Non-Cash Transactions
• $50 fee if funds are withdrawn by check

• $30 fee for money orders

• $10 fee for ACH transfers