Money Metals Exchange is a precious metals investment company that allows small investors in the USA to purchase physical gold and silver bullion. The company was founded in 2010 with the goal of providing individuals with a simple and affordable way to invest in precious metals.
One of the main benefits of investing with Money Metals Exchange is the ability to own physical metal. This means that investors can hold and store their own metal, giving them greater control and security over their investment. Additionally, the company offers competitive pricing and a wide range of products including coins, bars, and rounds in various sizes, which can be useful for investors looking to diversify their portfolio.
Another benefit of investing with Money Metals Exchange is the company's commitment to transparency and customer service. The company regularly publishes market updates and educational resources on their website and they have a team of knowledgeable representatives available to assist clients with their investments.
On the other hand, one of the cons of using Money Metals Exchange is that they do not offer storage solutions for their clients. This means that investors will need to make arrangements for the storage and security of their metal on their own. Additionally, investing in physical precious metals may not be suitable for everyone, and it's important for potential investors to understand the risks associated with this type of investment.
Another con of investing with Money Metals Exchange is that the price of precious metals is subject to fluctuations and may not always appreciate. The value of the metal is based on supply and demand, and it may fluctuate based on a wide range of factors including political and economic conditions.
Overall, Money Metals Exchange is a reputable and reliable choice for small investors looking to invest in physical precious metals. The company's commitment to transparency and customer service, as well as their competitive pricing and wide range of products, make them a strong option in the precious metals investment industry. However, it's important for potential investors to understand the risks associated with this type of investment and to consult with a financial advisor or professional before making any investment decisions.
Bear Lake Gold has written this Money Metals Exchange review to share our views on this company, its products and services, its pros and cons, and to consider whether Monetary Metals Exchange is a scam or a legitimate company. We will also cover other critical aspects of this company in this review, including the company's gold IRA offerings, precious metal coins, and bullion offerings.
We carried out this review using our standard review methodology. As part of our review standards, we conversed with Money Metals Exchange's online and offline customers, the management team, and the company's employees.
Sadly, from our discussions with these sources, we did not get enough satisfactory responses to list the company as one of our recommended gold IRA and precious metals companies.
Primarily, investment vehicles are the only way to build long-term wealth for your retirement. While there are various vehicles through which you can invest for retirement, like stocks, cryptocurrencies, ETFs, and bonds, buying precious metals and precious metals through an IRA is one of the best and safest investments you can make for retirement and, indeed, a great way to diversify your retirement portfolio and reduce risks like the effects of inflation.
Investing in precious metals through a gold IRA is similar to investing in a tax-efficient fixed saving regime. However, your capital is not at risk with a fixed savings regime, whereas when buying precious metals, the price can go down as well as up. Currently, at the time of writing this review, interest rates hover around 1.5%, and inflation is about 9.5%, giving about an 8% real-term devaluation of your savings held in the average bank per year. Gold, in particular, has been a great way to ensure that your capital at least keeps up with inflation.
After reading this review, you should be able to decide if you should invest your money through Money Metals Exchange or with one of our top three recommended IRA and precious metal companies.
Please click on any of the buttons below to see the comprehensive guides and information from our top three recommended companies.
Money Metals Exchange is a gold IRA and precious metals company. Stefan Gleason founded the company in 2010, and the headquarters is currently in Eagle, Idaho. The company is reputable in the precious metals industry, especially within the USA. Their prices for gold metals are excellent. However, their silver pricing is a little above the average.
The company has a wide inventory and offers its customers a wide array of gold, silver, platinum, and palladium bars and coins. They also have plenty of bars and coins that are IRA eligible in their catalog.
Money Metals Exchange has a rich ‘Resources/News' section on its website. This section provides customers with educational materials. Some resources in this section include podcasts, the company's FAQs, charts for precious metals, and an education center.
From the company's website and what we were told when we interacted with the company's employees, the key members of their management team are listed below.
All the members of the management team have their profiles on LinkedIn. The company makes a gross revenue of over $4.5M, and they have 21 employees.
Below is the list of the precious metals offerings in their catalog.
Below is a list of IRA-eligible precious metals in the company's catalog.
When it comes to gold pricing, the company is an outstanding competitor. In July 2022, the company listed its 1-ounce gold bullion bars at $62 over the daily spot price. Based on our review standards, the deal is impressive because precious metals dealers in the US offer their gold bars at 5% or more over the daily spot price. Using the current market pricing, these dealers list the same gold bars for $85.
When it comes to silver, the case is slightly different for Money Metals Exchange. The company lists its 1-ounce silver bullion products at $5.50 over the daily spot price. They sell their silver bullion at this listing for 35% higher than the current market price. With this price, the company has more or fewer alignments with its competitors because most dealers in the US list the same silver bullion at 30% above the daily spot price.
|Metals Available||Gold, silver, palladium, and platinum|
|Partnered Custodian||New Direction Trust Company|
|Partnered Storage Vaults||Money Metals Depository, Delaware Depository, Loomis International, CNT Depository, Dakota Depository, International Depository Services Group|
|Scaled or Flat Fees?||Flat Fees|
|Value of Your Holdings||Annual Fees billed Quarterly|
|$0 – $15,999||$96|
|$16,000 – $99,999||0.59% (0.0059)|
|$100,000 – $999,999||0.49% (0.0049)|
|$1,000,000 – $2,999,999||0.39% (0.0039)|
The shipping information on the company's website clearly states that orders whose payments have been cleared are shipped out within 48 hours. Then it takes between two to four business days to arrive at the clients' shipping locations. The cost of shipping depends on the value of orders. Every order has full insurance and will need a signature on the receipt upon delivery. The table below shows the company's costs of shipping
|Order Value||Shipping Cost|
|Up to $149.99||$6.97|
|$1,000,000 – $2,999,999?||Free|