GOLDEN LABS?
There is no such thing as a Golden Lab.  There are Golden Retrievers (a specific breed) and there are yellow Labrador Retrievers.

A FOURTH LAB COLOR?
Labrador Retrievers are registered in three different colors with CKC (Canadian Kennel Club)  Black, Yellow and Chocolate - But did you know they used to have 4 color classifications?
As late as 1989 CKC was still registering Labs with a 4th color classification known as "liver"  this is a dark red color.  Many people don't know this, so if you want to perk up the conversation with some trivia at your next Lab conversation, throw in this little bit of info.
Red Dog Ranch Labs have this color running in the background of all of their pups through our original Lab female, Babe. (Hence the name "Red Dog Ranch")
CLICK HERE TO SEE BABE'S ORIGINAL PEDIGREE WITH LIVER CLASSIFICATION.

WHICH COLOR IS BEST?
People often ask this question because rumors have circulated that Blacks are the smartest, followed by Yellows and then Chocolate.   Personally I've never owned a chocolate and though the 3 chocolates that I have known could have easily substantiated this rumor, it must be said that no one can classify "all chocolates" as being dumb or "all blacks" as being smart.  Dogs are all individuals and their breeding plays the major part in whether they will be intelligent or idiotic.  I would have to say that there is no significant difference in regarding intelligence and trainability in the different colors; color preference is probably based more on how the three colors came to be in the Labrador breed. Many breeders and hunters do prefer black over the other colors, but this is largely due to the fact that good quality breeding has been well established in the Black Labs for many years.  

 The yellow color has also become well developed over the last number of years.  The yellow color was introduced into the Lab breed during a period of time in England when a lot of interbreeding took place.
The internet tells us that  "Yellow was most likely introduced when the Lab was crossed with members of the hound group (Foxhound, etc.). In support of this theory, many of the first yellow labs had very "houndy" appearances; large ears, snippy muzzles, light leg bone, etc.. "  Through the efforts of many breeders dedicated to the Labrador breed, the yellow Lab for several decades has taken its place along side the Black Lab as having a well substantiated "type."

   In more recent years the chocolate has been gaining popularity. As was the case of the early yellows, chocolate Labs initially had physical flaws which made them less popular and less attractive to prospective buyers. Again, through efforts of dedicated breeders, the chocolate Labs are gaining popularity and the discerning buyer can now find Chocolates that are in line with the Blacks and the Yellows for conformation and temperament, suitable show, field, obedience and companions.

So what color should you choose?  Choose whichever color you like the best, but make sure that you have researched any prospective pup to ensure that it is bred to be an intelligent, healthy dog.

A couple comments from other breeders from the internet:

"My own preference is for the black coloration. There is something very photogenic about the way the sun shines off of the coat of a black lab after a swim. Yellow and chocolate dogs just look like wet dogs. The yellow labs are probably the most popular among the owner population. The chocolates aren't very popular for showing. One reason, I believe is that the coats of the chocolates can be very troubling at times. During the Spring and the Fall when they are going through heavy shedding periods or "blowing coat" they are often two-toned, and in the summer, special attention must be given to be sure that the sun doesn't bleach out their coats.   

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"That said, I will admit to an unproved Mendelian theory.  Labrador blood lines seem pretty solid compared to some other breeds.  But... In a large sample, there seems to be (very slightly) more stability in the Blacks.  While I can't offer more than subjective anecdotes, some chocolates may have been "pushed" by
breeders to meet greater market demand during the past few decades. I have one wonderful and loving Chocolate (with an excellent pedigree) who is a super friend and pet.  Yet even I admit that her elevator doesn't quite reach the penthouse, if you get my drift.  Bless her heart, she is much longer on instinct than on intellect, clearly not the case with our current black Labs, one of whom might be in grad school if she only had a thumb to hold a pencil."

Oh well, thanks f    ***********************************************************Lab

"Actually, the reason black dogs are so much "better" (poor choice of words I know) is not because of their color. Let me try to explain. Black is the dominant gene. Yellow and Chocolate are recessive and double recessive. All this means is statistically more pups born will be black versus any other color. However, two yellows will always give yellows. When labs were first developed, yellows and chocolates were culled (killed at birth for their inferior color in the eyes of the breeders).  Because most labs are black, the opportunity to select for superior field dogs in breeding programs was most realized with black dogs. Just a simple numbers game; there were more black dogs to choose from than other colors. True breeders breed for ability, not color. If you just breed for ability, most of the dogs you breed will end up being black, because statistically most labs are black, it’s a dominant gene. The result has been, that over time, a large pool of Labradors with proven field ability are black.

With that said, if two blacks produce a litter of all three colors, all the pups of different colors will have the same performance potential. This is why people who really understand Labradors say they would only purchase a yellow or chocolate pup if it were produced by 2 blacks.

So if I were to recommend something, stay away from breeders who choose color as their first choice in selecting a Sire. Ability should be the first choice. I would recommend the same for buyers. "