Gold Avenue Review 2024: A scam or legit precious metal reseller?

Jeremy Biberdorf
By: Jeremy Biberdorf
Oct 01, 2023
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Gold Avenue Logo

4.4/5

4.4 rating based on 5 ratings

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In a nutshell: Gold Avenue is the online retailer of MKS PAMP Group, an international trading business that specializes in the trading of precious metals.

Gold Avenue’s service centers around the sale & storage of various precious metals products including gold products, silver products, platinum products, and palladium products.

Whether you’ve been intrigued by their secure vaults, excellent customer service, or their vast array of premium bullion products, you’ll be able to find all the reasons you should consider using this online platform—-as well as the reasons you may not—in the Gold Avenue review below!

Service TypeFees Promotion
Precious metals dealerShipping (varies)
Shipping insurance (0.5%)
Storage up to $10k (free)
Storage up to $100k
($8/month)
Storage over $100k
Free 7-day trial (0.5%/year)

Gold Avenue is best for…

Precious metal investors—specifically, retail investors—who want to be able to access competitive pricing and storage solutions from the same company.

Although Gold Avenue lacks the wide range you might find from an alternative precious metals dealer, you can always expect to get a fair price while shopping. The company will even buy back your gold at the spot price (market price) without charging you any fees or commissions.

As the retailer of a genuine company that’s well-known in the industry, Gold Avenue is also a good option for those who are eager to get into the precious metal investing world (but don’t know who to trust).

Pros & Cons
Pros
  • Streamlined purchasing process
  • Offers storage facilities
  • Reputable company
  • Buyback program
  • Purchases are off the balance sheet
Cons
  • Doesn’t offer a Gold IRA service
  • Limited options for payment methods
  • Only sells four precious metals

What is Gold Avenue?

Gold Avenue is the digital gateway of its parent company, MKS PAMP GROUP, a renowned entity in the precious metals industry with over six decades of expertise. As a member of the prestigious London Bullion Market Association (LBMA), MKS PAMP GROUP is deeply rooted in tradition while pushing for innovation.

With origins in Geneva, MKS began its journey in 1979, while its affiliate, PAMP, was established in Ticino, Switzerland, in 1977. PAMP’s inclusion on the LMBA’s Gold List underscores its outstanding reputation in the financial domain.

The group also includes Manfra, Tordella, and Brookes (MTB) and the Metals and Minerals Trading Corporation (MMTC-PAMP). MTB, based in the U.S., is a significant precious metals distributor. In contrast, MMTC-PAMP, a joint venture with the Indian government, is India’s foremost bullion trader and its only refinery recognized by the LMBA.

Gold Avenue serves as the online marketplace for the group. Here, consumers can buy, sell, or trade precious metals from various brands, including PAMP. Leading the team at Gold Avenue is CEO Alessandro Soldati, an experienced entrepreneur who joined in 2017 and studied at the University of HEC Lausanne.

Unlike other dealers (who may also sell less valuable metals such as copper), Gold Avenue only sells the most popular and potentially profitable precious metals to its customers.

Interestingly, the company doesn’t offer any IRA or similar retirement services.
Learn More About Gold Avenue

External Gold Avenue Review & Ratings

SiteRating
Find Bullion Prices5
Trustpilot4.7 from 1,652 reviews
Facebook4.7

Here are some reviews from traders who have experienced the platform firsthand:

“It’s very convenient to purchase through Gold Avenue, the website is easy to navigate, no clutter, and their service is top. I was even called to follow up if I needed more assistance. I also appreciate email updates on the market information, and price status. Highly recommend!”
“The company has clear, easy to understand rules. It is very convenient to store a virtual wallet. For operational virtual buying and selling, it would be convenient if there was a possibility to keep a larger pay balance for a longer period of time, so that a transaction could be carried out promptly when there is an appropriate price situation.”
“The website is easy to use and pretty intuitive, the buying experience very easy as well.
My initial contact was super-helpful in giving me background to how the investment works and how / where the precious metals can be stored with them or delivered.
All round good experience, very happy customer.”
“User friendly platform.
Great customer service.
Wide range of precious metals.”

Products

Gold Avenue’s wide variety of precious metals options are easy to take advantage of. Whereas some competitors require you to call to place an order, Gold Avenue offers customers a more traditional online shopping experience.

Select the products you’d like, add them to your cart, then check out to finalize your order! Orders can be shipped to your home or directly into storage.

Gold

Gold Avenue is a prime destination for gold enthusiasts, presenting an array of both bars and coins. Their gold bars come in two distinct categories:

  • Cast Bars: Made using molds and then stamped or engraved. They typically lack any ornamental packaging.
  • Minted Bars: These are distinguished by their intricate designs, mirroring the finesse of minted coins, and come in packaging that accentuates their beauty. The selection spans weights from 3.11 grams to 100 grams. As for coins, Gold Avenue’s collection includes notable pieces like the American Gold Eagle, Canadian Gold Maple Leaf, and the Austrian Gold Philharmonic coin.

Silver

Silver enthusiasts are in for a treat, with a comprehensive selection of both bars and coins. Gold Avenue offers:

  • Coins: Including the Canadian Maple Leaf, American Eagle, Austrian Philharmonic, South African Krugerrand, and British Britannia.
  • Bars: PAMP Suisse silver bars are available in various weights, such as the 1 oz, 100-gram, and 1 kilo options.

Platinum

For those leaning towards platinum, Gold Avenue doesn’t disappoint:

  • Coins: Choices range from the American Eagle to the Canadian Maple Leaf, Austrian Philharmonic, and British Britannia.
  • Bars: The platinum bars come in sizes of 1 oz, 1 gram, and 5 grams.

Palladium

While not always in stock, palladium offerings, when available, are impressive:

  • Coins: The Canadian Maple Leaf stands out among the palladium coins.
  • Palladium Bars: These range from weights of 1 gram to 1 oz.

Environmentally Responsible Offerings

Gold Avenue is not just about precious metals but also focuses on sustainability. They proudly offer carbon-neutral gold from MKS PAMP GROUP. Products labeled as carbon-neutral adhere to global standards, emphasizing yearly reductions in C02 emissions. Residual emissions are counterbalanced by the company’s investments in significant eco-friendly initiatives, termed ‘carbon offsets’.

Storage Solutions

Gold Avenue offers a comprehensive, secure storage option for precious metals in Switzerland, a recognized tax haven. This not only protects deposits from tax officials but also assures clients of stringent privacy, given the country’s robust privacy laws.

The precious metal storage facilities are renowned for their security, assuring clients that their investments are in safe hands. Every purchase made through Gold Avenue is insured, which means that in the rare event of theft, damage, or loss, clients are guaranteed a refund.

These assets don’t appear on the vault’s balance sheet, ensuring that even if Gold Avenue faces bankruptcy, the client’s investments remain untouched. This setup also safeguards assets from potential government seizures.

The convenience of transactions is another highlight for investors. They can effortlessly buy or sell their assets through the Gold Avenue platform without incurring shipping costs, thanks to the on-site storage.

An online wallet is provided to every client to keep track of their assets, making buying or selling decisions based on real-time data. Gold Avenue also facilitates deliveries across Europe, ensuring that every shipment is insured. Upon making a delivery request, each metal bar is assigned a unique serial number, and clients can download ownership documentation directly from the website.

Regarding the pricing model, Gold Avenue adopts a transparent approach. Storage fees for assets up to $10,000 in value is complimentary. Those valued between $10,000 and $100,000 incur a nominal $8 monthly fee, while assets surpassing $100,000 are charged an annual fee of 0.5%.

Accounts holding assets exceeding this value are paired with a dedicated account manager for personalized service. It’s noteworthy that Gold Avenue offers free storage up to 10kgs for metals purchased via their platform.

Their facilities are strategically located at the PAMP Refinery in Switzerland, presenting an attractive proposition for those wary of U.S. storage. However, those considering a gold IRA should be aware that Gold Avenue might not align with specific U.S. storage regulations.

One of Gold Avenue’s distinguishing features is its daily storage vault inspections, reinforcing its commitment to the security of clients’ assets and offering world-class secure storage solutions.

Payment Options

Gold Avenue supports various payment options for its customers:

  • Currencies: They accept USD, GBP, EUR, and CHF.
  • Wire Transfer: Customers can pay between $113 (CHF100) and $133,000 (CHF 100,000) via wire transfer. There’s no fee charged by Gold Avenue for this, but you should pay immediately after ordering. Remember, your bank might charge extra fees for bank transfers, which you’ll have to cover.
  • GOLD AVENUE Pay: This is Gold Avenue’s payment and withdrawal system. You can add money to your account through wire transfer before buying anything. Funds usually appear in your account within 1-3 business days.
  • Credit and Debit Card: You can buy using credit cards, but it should support 3D Secure. If unsure, ask your card provider. Using this method, there’s a 3% fee since it’s a faster payment option.
  • DGLD: This is a digital token proving proof of ownership of your physical gold in a Swiss vault, backed by the Bitcoin blockchain. Using DGLD to pay comes with a 0.0005 DGLD transaction fee.

Gold Avenue Shipping

Gold Avenue partners with reputable shipping firms to make sure of the efficient and secure delivery of customer orders globally. They collaborate with couriers like UPS, LOOMIS, SWISSPOST, and HELVETICOR. If you’re curious about where they ship, there’s a comprehensive list of countries available on their website’s shipping tab.

If, for some reason, you don’t see your country on their delivery list, Gold Avenue encourages reaching out either via email at info@goldavenue.com or phone at +41(0)225189211 for assistance.

When Gold Avenue dispatches products, they prioritize discretion in packaging, ensuring that your orders arrive without drawing unnecessary attention. As for the shipping costs, they vary based on your destination, ranging from $9 to $100.

An insurance fee, calculated as 0.5% of the order’s value, is also applicable. So, when customers finalize their orders, both shipping and insurance fees need to be settled. Typically, once an order is placed, the delivery window is between 4 to 15 days.

An interesting feature is that all shipments come with a tracking number. This means you can monitor your parcel’s journey online right up to your doorstep. When your order finally arrives, a signature is required to confirm receipt, adding an extra layer of security.

For customers in the E.U., Gold Avenue simplifies the delivery process by handling VAT (Value Added Tax) calculations directly during checkout. This not only expedites deliveries but also ensures a smoother transaction experience.

By working with renowned couriers and emphasizing insured deliveries, Gold Avenue underscores its commitment to delivering your precious metals safely and efficiently.

Is Gold Avenue Right for You?

Gold Avenue won’t be a good option for investors who are seeking to purchase precious metals in less common forms. Gold jewelry, palladium coins, and other products often offered on by others in the precious metals industry, can’t be purchased from Gold Avenue, which could dissuade some potential customers.

That said, Gold Avenue is an excellent option for investors who are just getting started with physical gold and precious metals. It offers a fair selection of products, but not so many that the complete beginner would be overwhelmed with options. It also allows you to set up the storage of products in segregated vaulting right from your order, streamlining the entire purchasing process.

If you’re ready to start diversifying your portfolio with easy-to-liquidate precious metals investments, you can begin your journey on Gold Avenue by clicking here!

Get Started With Gold Avenue