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Last Updated on December 2, 2023
Precious metals have always been considered a reliable store of value and a safe-haven investment, especially during times of economic uncertainty.
One such platform that provides precious metals investment options is Money Metals Exchange.
In this review, we will take a comprehensive look at Money Metals Exchange, its offerings, processes, and key features, to help you decide if it is the right choice for your precious metals investment needs.
Before we dive in, are you looking for the top-rated precious metals investing company for 2023? We’ve reviewed and rated them and narrowed it down to our top choice – Goldco – learn more and get a free precious metals investing kit below:
What is Metals Exchange?
Money Metals Exchange, founded in 2010 by Stefan Gleason, is a precious metals dealer based in the United States. The company specializes in selling, buying, and storing a variety of precious metals, including gold, silver, platinum, and palladium.
Money Metals Exchange aims to provide its customers with an easy, secure, and affordable way to invest in precious metals.
The platform caters to investors of all sizes, whether you are new to precious metals investing or an experienced investor.
What Products do They Offer?
Money Metals Exchange offers a diverse range of products to its customers, including:
- Gold coins and bars: These include American Gold Eagles, Canadian Gold Maples, South African Krugerrands, Austrian Philharmonics, and various gold bars from renowned mints like PAMP Suisse, Credit Suisse, and the Royal Canadian Mint.
- Silver coins and bars: The platform offers American Silver Eagles, Canadian Silver Maples, Austrian Silver Philharmonics, and silver bars from well-known mints like Sunshine Minting, SilverTowne, and Engelhard.
- Platinum and palladium coins and bars: Money Metals Exchange also offers a selection of platinum and palladium products, including American Platinum Eagles, Canadian Platinum Maples, and bars from PAMP Suisse and Valcambi.
- Pre-1965 U.S. silver coins: Also known as “junk silver,” these coins are made of 90% silver and include dimes, quarters, and half dollars minted before 1965.
- Precious metals IRAs: Money Metals Exchange allows customers to hold precious metals within a self-directed IRA account, providing a tax-efficient way to invest in gold, silver, platinum, and palladium.
What’s their BBB Rating?
Money Metals Exchange has an A+ rating from the Better Business Bureau (BBB), which is the highest possible rating. The company has been accredited by the BBB since 2011, indicating its commitment to meeting the standards set by the organization, including transparent business practices, responsiveness to customer complaints, and adherence to advertising and selling standards.
How the Buying Process Works
The buying process at Money Metals Exchange is simple and straightforward:
- Browse the website and select the products you wish to purchase.
- Add the items to your shopping cart and proceed to the secure checkout page.
- Provide your billing and shipping information.
- Choose your preferred payment method.
- Review and submit your order.
Once you submit your order, Money Metals Exchange will send you an email confirmation with your order details and instructions for completing the payment.
How Does Their Shipping Work?
Money Metals Exchange offers free shipping on all orders over $500 within the United States, with a flat rate shipping fee of $7.97 for orders below $500. The company ships via USPS, FedEx, or UPS, depending on the size and value of the order. Most orders are shipped within 1-3 business days after the payment has been cleared. All shipments are fully insured, and a tracking number is provided to track your package during transit.
What forms of Payment Do They Accept?
Money Metals Exchange accepts various payment methods, including:
- Bank wire transfers
- Personal checks
- Cashier’s checks
- Money orders
- Credit cards (Visa, Mastercard, American Express, and Discover)
- Cryptocurrencies (Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple).
- Note* Bank wire transfers and cryptocurrencies typically clear faster, while personal checks and money orders may take longer to clear.
Does Money Metals Exchange Offer a Precious Metals IRA?
Yes, Money Metals Exchange offers a gold IRA option for its customers. Investors can hold precious metals such as gold, silver, platinum, and palladium within a self-directed IRA account through Money Metals Exchange.
This provides a tax-efficient way to invest in precious metals, as the growth of your investment within the IRA is tax-deferred until you withdraw the funds.
Money Metals Exchange works with multiple IRA custodians to help customers set up their self-directed gold IRA accounts and manage the associated paperwork and regulations.
Money Metals Exchange also offers a buyback program, allowing customers to sell their precious metals back to the company. The process is as follows:
- Contact Money Metals Exchange by phone or email to request a buyback quote.
- If you accept the quote, the company will lock in the price and provide you with a purchase order number.
- Ship your items to Money Metals Exchange using the provided shipping instructions. The company covers the shipping costs for transactions over $1,000.
- Once the items are received and inspected, Money Metals Exchange will issue payment via check, wire transfer, or cryptocurrency, as per your preference.
Money Metals Exchange has partnered with SALT Lending to offer a loan program that allows customers to use their precious metals as collateral for a cash loan.
This program provides a way for investors to access liquidity without having to sell their metals. To apply for a loan, customers must have their metals stored at Money Metals Depository, the company’s storage facility.
The loan-to-value (LTV) ratio varies based on the type of metal and market conditions but generally ranges from 30% to 70%.
Money Metals Exchange offers secure storage options through its subsidiary, Money Metals Depository.
The storage facility is located in Idaho and provides state-of-the-art security features, including 24/7 monitoring, biometric access controls, and Class 3 vaults. Customers can choose between segregated and non-segregated storage options.
Segregated storage means that your metals are stored separately from other customers’ metals, while non-segregated storage means that your metals are stored together with other customers’ metals but are still individually identifiable.
How Their Referral Program Works
Money Metals Exchange has a referral program that rewards customers for referring new clients to the platform. When a referred customer makes their first purchase, the referring customer receives a $10 credit in the form of store points.
The referred customer also receives a $10 discount on their first order. There is no limit to the number of referrals a customer can make, and the referral rewards can be used to purchase precious metals from Money Metals Exchange.
Pros and Cons
- A wide range of products, including gold, silver, platinum, and palladium.
- A+ BBB rating and accreditation since 2011.
- Free shipping on orders over $500 within the United States.
- Multiple payment options, including cryptocurrencies.
- Buyback program with competitive prices.
- Loan program using precious metals as collateral.
- Secure storage options through Money Metals Depository.
- Referral program that rewards customers for bringing in new clients.
- Some customers may find the company’s website less user-friendly compared to other platforms.
- Limited international shipping options.
- The loan program is only available to customers who store their metals at Money Metals Depository.
Should You Consider Investing in Precious Metals?
Investing in precious metals can be an excellent addition to your investment portfolio. Precious metals like gold, silver, platinum, and palladium provide a hedge against inflation, currency devaluation, and economic uncertainty.
Moreover, they offer diversification benefits and can help reduce overall portfolio risk. However, it is crucial to remember that all investments carry risks, and the value of precious metals can fluctuate.
It is essential to carefully consider your investment goals, risk tolerance, and investment horizon before adding precious metals to your portfolio.
Is Money Metals Exchange Legit?
Money Metals Exchange is a legitimate and reputable precious metals dealer.
The company’s A+ rating with the Better Business Bureau, accreditation since 2011, and numerous positive customer reviews demonstrate its commitment to providing excellent service and maintaining high standards in the industry.
The platform offers a diverse range of products, competitive pricing, and various services to cater to the needs of both novice and experienced investors.
Money Metals Exchange Alternatives
- Augusta Precious Metals: Augusta Precious Metals (read review) is a well-established precious metals dealer with a strong reputation for customer service and education. They specialize in gold and silver IRAs, making them an excellent option for investors looking for a tax-efficient way to invest in precious metals. With a dedicated customer success team, Augusta provides personalized support to help clients make informed decisions about their investments. They also offer a buyback program and secure storage options through partnered facilities.
- Goldco: Goldco (read review) is another reputable precious metals dealer that focuses on gold and silver IRAs. The company has a strong track record and is known for its transparent pricing, knowledgeable staff, and excellent customer service. Goldco provides a wide range of gold and silver products, including coins and bars from renowned mints worldwide. They also offer an easy-to-use online platform, making it simple for investors to manage their precious metals investments. In addition to their IRA services, Goldco offers direct purchases and a buyback program.
- American Hartford Gold: American Hartford Gold is a leading precious metals dealer that offers gold, silver, and platinum products for both direct purchase and inclusion in self-directed IRAs. With a focus on customer satisfaction, the company provides personalized support, competitive pricing, and a seamless buying process. American Hartford Gold also offers a price match guarantee, ensuring that customers receive the best possible price for their investments. Additionally, they provide a buyback program and partner with secure storage facilities for investors who wish to store their precious metals.
Each of these alternatives to Money Metals Exchange has its unique strengths and offerings, making them worth considering based on your investment goals, preferences, and requirements.
Money Metals Exchange is a reliable and trustworthy option for investors looking to buy, sell, or store precious metals. The company offers a wide range of products, competitive pricing, a buyback program, and secure storage solutions.
Additionally, their loan program, which allows customers to use their precious metals as collateral for cash loans, is an innovative feature that sets them apart from many other dealers.
With an A+ BBB rating and a strong reputation in the market, Money Metals Exchange is an excellent choice for investors seeking a safe and secure platform for their precious metals investment needs.
However, as with any investment, it is crucial to carefully assess your financial goals and risk tolerance before making any decisions.