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Gem State Gold & Silver is a local business located in Idaho, but they also have some online services. In addition to selling gold and silver, they offer spectrometer readings. They'll buy your precious metals, including old jewelry and scrap metal, which is something that many other companies don't offer.
But is it worth doing business online? And what do the local clients have to say about their experiences with the storefront? Here's a breakdown of the things you should know before getting started.
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About Gem State Gold & Silver
Gem State Gold & Silver is a unique precious metals dealer partly because of their services. Not only do they buy and sell metals, but they also act as a smelter and refinery. Because of this, they are able to buy and assess scrap metals along with broken and old jewelry.
The company is owned by Yvonne and Marvin Tanner, and most business is done locally in Idaho. They have been working in the Idaho area since 2007, although their BBB page states that the business has existed since 1990. That means that there's a whopping three decades of experience under their belts!
In addition to selling online, there's a local storefront that people can visit by appointment only.
One of the company's most unique services is the ability to assay your precious metals. If you have old scrap metal or jewelry, you can have it melted, assayed, and stamped into a bar. The cost of doing so is relatively low. In addition, you can have your metals assessed to determine the type and purity level.
For people who are buying precious metals, there are a variety of options. The company website states that there are nearly all types of silver and gold bars and coins available through the company's inventory. They mainly serve the Treasure Valley and pride themselves on being one of the biggest and most reliable dealers in the area.
Appointments at the storefront are available seven days a week to accommodate people who have long work schedules. In addition to leaving voicemails to set up an appointment, you can also text the number posted on the website.
Is Gem State Gold & Silver a Scam?
Gem State Gold & Silver is not a scam. The company has an established storefront and a presence in the local community. You can find information about them on Yelp, on Map Quest, and in local guides. However, they don't seem to have expanded far beyond their current local clientele.
In addition, some of the online reviews are very mixed. They have an A+ rating and no complaints with the BBB, and the one customer review on the BBB website is positive. But they also aren't accredited with the BBB, despite the site information stating that the business has been around since 1990.
On Loc8 Near Me, a website for finding small businesses in your area, the company has positive ratings with 4.7 out of 5 stars based on 76 votes. However, their rating on Yelp is just 3 out of 5 stars with 14 reviews, indicating that people have had very mixed feedback.
Let's look at some of the positive customer reviews, then examine a few of the Yelp complaints.
There was a 5 star review left on the BBB website in 2020. The customer said that she called the company and talked about how much she wanted to spend. The owner provided her with multiple different options. She said that he was extremely nice, and working with him was super easy.
In addition, she stated that the owner never tried to upsell items or talk her into spending more. He really seemed to care that she bought whatever was best for her. She also stated that when she looked up the price of the items upon arriving home, she believed that she'd actually been undercharged. Any of the competitors would have charged more.
She concluded by saying that she'd be happy to shop at this store again, and she would certainly recommend the business to others. It seems like she went to the physical storefront rather than buying online.
There's a positive Yelp review that comes from a customer who says he's been working in the precious metals industry for several years. Even though he's worked with many of the top retailers, he said he believes that Gem State Gold & Silver is one of the most honest.
This customer had been working with the company owner for a decade. Every time he went to the store, the owner gave him straightforward feedback and provided honest pricing. Furthermore, the customer said that he had a good experience with trading in his own precious metals. He was given a variety of options for the trade without any high pressure pitches.
The customer concluded by stating that he believed that Gem State Gold & Silver was a local gem that ought to remain in business for a long time.
There are a handful of complaints on the Yelp page, though no complaints have been filed with the BBB.
One complaint from 2017 states that the customer was given terrible service. She said that the employees were rude, antagonistic, and sexist. She also stated that she was unhappy with the rates they provided for their gold.
Another complaint from 2017 had to do with the spectrometer. This machine is able to test the type and purity of different precious metals. The customer said that when her items turned out to be copper, the employee seemed frustrated and upset. But she didn't mind too much until the time came to pay.
The customer was told that she would have to pay a fee of $100 for the spectrometer reading, even though this price quote hadn't been given before. The prior price quote was $50 for three readings, regardless of what the readings showed. When the customer brought this up, the employee pointed to a small-print sign behind the counter and argued about it.
She said that she felt uncomfortable about the whole thing, because it seemed like she'd been misled on purpose. She also said that after the first reading, the employee refused to test the rest of her items, because he believed that everything would be the same copper.
Pros & Cons of Gem State Gold and Silver
Gem State Gold & Silver is a company with a long history. Though most of their business appears to be done in person, they do have some online presence. Most customer reviews are from people who went to the storefront, though. Given the outdated website, it seems like this company isn't the best equipped to sell bullion online.
That doesn't mean that they're a bad company. Most of the negative reviews seem to be from five or more years ago. All of the recent reviews of the storefront are positive. Customers have reported being happy with the pricing for both buying and selling their items. But you're better off visiting the actual store than making a purchase online.
If you do want to buy bullion online, there are other companies that have a more solid online presence. Some of them will even allow you to use eCommerce platforms to create carts and check out online.