If you’ve been paying close attention to the global economy recently, you can tell that things are not as stable as they used to be. Inflation rates are rising every other day, and things don’t feel so certain now. This explains why many people are moving on to precious metals as a safer long-term investment. Precious metal investments are worthwhile because precious metals like gold, silver, platinum, and palladium have both intrinsic and melt values.
Additionally, precious metals have no credit risk, which is a key factor when it comes to diversifying your investment portfolio. With precious metals IRAs, you can invest in various market sectors, including mutual funds and even metal mining stocks. Unlike stocks, real estate, and bonds that rarely maintain stable rates, precious metals tend to hold to their value even when the economy is at its worst.
If you’re planning to invest in precious metals, then you should consider working with a company that trades directly with its clients, like Money Metals Exchange. So, what exactly is Money Metals Exchange? Is it a legitimate company? How is their customer support? Here is a detailed review of Money Metals Exchange that will help you learn more about the company.
What Is Money Metals Exchange?
Money Metals Exchange is one of the leading bullion dealers in the country that helps clients buy and sell a variety of precious metals, including gold, silver, platinum, palladium, and rhodium. The company also sells concentrated jewelry, more valuable than gold, to interested buyers. In addition to being a precious metals dealer, Money Metals Exchange has IRS programs that allow people to invest in precious metal IRAs.
Currently, the company has more than 20,000 investors, and its news service boasts more than half a million readers. Due to these impressive numbers, Money Metals Exchange was recently awarded the accolade of ‘Dealer of the Year by Bullion.Directory.
Money Metals Exchange was founded in 2010 by Stefan Gleason. His main aim was to create a platform that offered competitive rates for its precious metal products. Stefan Gleason founded the company so that both seasoned and avid investors could buy precious metals based on their melt value rather than their bullion value. By eliminating shady strategies used by brokers, Money Metals Exchange protects clients from high mark-ups and makes it easier for them to fend for their investments freely.
It’s worth noting that the company also aims to benefit wealthy individuals looking to make big investments in the precious metals industry. For instance, the company has a feature known as the ‘Investors starter kit,’ which comprises 120 ounces of silver and 1.1 ounces of gold in one bundle.
In addition to the starter kit, Money Metals Exchange offers clients a monthly savings plan that can provide you with a $100 reserve fund every month and other benefits. This savings plan also allows you to choose your preferred bullion product offered by the company. Once you’ve selected the precious metal product of your choice, you can ask the company to ship it to your address or store it for you in one of their depositories.
Stefan Gleason, the founder of Money Metals Exchange, is a reputable name in the finance industry as he owns marketing and publishing companies and also serves as a representative of multiple financial companies.
He has appeared in several national broadcasting shows, including O’Reilly Factor, CNN, Special Report with Brit Hume, C-SPAN’s Washington Journal, and many others. Stefan Gleason’s commentaries on the precious metal industry have also been published in the Wall Street Journal, Washington Times, the National Review, Detroit News, among other publications.
Money Metals Exchange Products
Money Metals Exchange offers an impressive lineup of products, including the following:
How Money Metals Exchange Works
Money Metals Exchange has an intuitive and clear homepage where all product categories are arranged in tabs at the top. All you need to do is to click the precious metal product you wish to buy, enter the quantity and add it to cart. After selecting the product, you may proceed to browse other products or head to the checkout page.
Once you start the checkout process, Money Metals Exchange locks in the price for approximately 10 minutes. In fact, there is a timer at the top of the homepage that tells you how much time you have left until that particular price expires.
To complete the checkout process, you’ll be required to enter your official name, shipping address, and payment details. After completing the checkout process, Money Metals Exchange will send you a confirmation email. Generally, the entire process takes only a few minutes.
How to Sell to Money Metals Exchange
If you’d like to sell gold, silver, palladium, or platinum to Money Metals Exchange, follow these steps:
Before contacting Money Metals Exchange, you need to ensure that the precious metal product you’re selling adheres to the following buyback guidelines:
If you’re not certain that the precious metal product you’re planning to sell to Money Metals Exchange meets these requirements, you’re advised to contact one of their representatives via phone, email, or live chat.
Money Metals Exchange’s Prices
Generally, Money Metals Exchange’s prices are a bit higher than those of other precious metal dealers. However, if you’re planning to sell precious metal products, you should know that the company offers better buyback rates than its competitors.
Buy Prices
On November 16, 2022, Money Metals Exchange advertised a one-ounce uncirculated random-year American Gold Eagle coin for $1,788.95. The company also levies a 4% processing fee for all purchases made with Money Metals Exchange credit cards and PayPal.
Sell Prices
As aforementioned, Money Metals Exchange’s buyback prices are slightly higher than its competitors. On November 16, 2022, the company advertised a one-ounce uncirculated American Gold Eagle coin for $1,789.20, which was a bit higher than some of the other dealers’ prices.
Money Metals Exchange Starter Kit
Money Metals Exchange has a ‘Silver Only’ starter kit valued at $118.22. This starter kit comprises 4 Oz of pure silver:
Storing Your Bullion with Money Metals Exchange
If you’d like to store your precious metal products away from your home, you’re in luck. Money Metals Exchange protects and holds clients’ precious metal products in an insured and IRA-approved depository with UL Class 3 vaults. It’s worth noting that all precious metal products stored at this depository are fully insured by Money Metals Exchange’s Lloyd’s of London insurance policy. Therefore, you can enjoy peace of mind knowing that your valuable investment is fully secured in the event of unforeseen circumstances.
Additionally, the company has a custodian partnership with the New Direction Trust Company, which allows interested clients to store their precious metal products in the following depositories:
Like any other bullion dealer in the industry, Money Metals Exchange charges a fee in exchange for storing your precious metal products. These storage fees are billed quarterly, and the total annual amount mainly depends on the value of your investment. Here is the company’s storage fee pricing guide:
Market Value of Asset | Fee |
|---|---|
$0 - $15,999 | $96 |
$16,000 - $99,000 | 0.59% |
$100,000 - $999,000 | 0.49% |
$1,000,000 - $2,999,999 | 0.39% |
If your investment is worth more than $3 million, you need to contact Money Metal Exchange to get a clear breakdown of the storage fees.
Pros & Cons of Money Metals
Pros
Cons
FAQs
How do I open an account with Money Metals Exchange?
The process of opening an account with Money Metals Exchange is fast and simple. Once you’ve identified the precious metal product you want to buy, you’ll be required to open an account before completing the checkout process. To do this, enter your official name, email address, and password for the account.
Does Money Metals Exchange Accept returns?
When dealing with any business or company online, you want to ensure that they accept returns without unnecessary constraints. Fortunately, Money Metal Exchange is one of those companies that accept returns. But, you must ensure that you return the product within three days after delivery. If you don’t initiate the return process within this period, the company will not accept the product.
To start the return process, contact a Money Metals Exchange representative at 800-800-1865. Once you’ve initiated the return process, the company will require you to pay the shipping cost and also return the product in its original packaging. If you pay these fees using PayPal or a credit card, you’ll be charged a 5% stocking fee.
Additionally, the company will also hold you accountable for any market loss that has occurred within that period. Therefore, if the product’s value has dropped since you bought it, the company will deduct that amount from the refund.
What payment methods can I use when working with Money Metals Exchange?
The payment method you choose when working with Money Metals Exchange depends on the amount you wish to spend and how quickly you want your precious metal products. The company offers various payment methods, including the following:
Some of the cryptocurrencies accepted by Money Metals Exchange include:
How does Money Metals Exchange keep my money safe?
In addition to being fully insured, every order you make at the company’s website comes with tracking information. Also, the company uses SSL encryption from DigiCert to protect your private information during the checkout process.
Is Money Metals Exchange a scam?
No. Money Metals Exchange was founded in 2010 and is headquartered in Eagle, Idaho. For the last 12 years, the company has worked with thousands of clients and is an accredited business with the Better Business Bureau (BBB). If you check online, you’ll find out that the company has many positive reviews.
For instance, Money Metals Exchange earned an A+ rating based on BBB’s internal criteria, which is quite impressive. Also, the company boasts a 4.7/5 rating on Facebook and great reviews on FindBullionPrices.com.
Money Metals Exchange is safe to work with and benefits both beginners and seasoned investors. However, if you’re planning to invest in precious metals IRAs, we believe there may be better companies out there you can work with.