Are you interested in a precious metals investment? If that’s the case, then the first step is finding a reliable precious metals company that aligns with your goals and objectives. The truth is that there is a plethora of contenders, so often, finding the right service provider to work with isn’t as easy as it may seem.
One company that has gained attention in recent years is Bold Precious Metals. Because we understand the importance of knowing who you’re working with, especially when it comes to purchasing gold, silver, platinum, and palladium, we took a closer look at this company to help you decide whether it is worth your while.
In this Boldpreciousmetals review, we will talk about the company, its website, how shipping works, future developments, and more.
First and Foremost, Is Boldpreciousmetals.com Legit?
While many precious metal dealers are legitimate and offer real services, there are scam artists out there that you need to be wary of.
Bold Precious Metals is a bullion dealer that places an emphasis on consumer education and shipping products in a timely manner, and from what we have seen when preparing this review, it is indeed a legitimate company.
We do have a list of fully vetted gold investment companies. Check it out before making any decisions.
The Benefits of Owning Precious Metals
Investments are not something to be taken lightly. After all, you are investing your hard-earned money. Before you simply take our word for it, it’s important to understand whether purchasing gold or silver coins or bars is really the right option for you.
To help you decide, let’s take a look at some of the benefits of precious metals investments:
Diversification
It’s not wise to put all your eggs in one basket, as the saying goes, and nothing could be more true when it comes to investments. The truth is that there are risks that come with any investment type. Precious metal prices aren’t affected by inflation, so when the stock market crashes, the chances are that these assets will hold their value. This can help to reduce the overall risk.
History of Success
Gold, silver, and other precious metals have been around for decades and have been used for centuries as a store of value. The prices of these assets have gone up over time, so investors can purchase them with the confidence that they will rise in value.
Safe Haven During Economic Turmoil
When there is economic or geopolitical uncertainty, investors typically flock to gold and silver as safe-haven assets. When other markets are volatile, precious metals’ apparent stability and intrinsic value make them appealing.
About the Company
Now that you understand the benefits of investing in this asset type, let’s consider Bold Precious Metals as a service provider.
According to the website, the company offers fast shipping, excellent customer support, competitive pricing, fast and secure checkout, and more. It stemmed from the founder’s grandfather, who was an avid coin collector and was founded in 2015 in Austin, Texas.
Bold’s goal is to make precious metals more accessible to the public and to educate them on the potential benefits of investing in these assets.
Bold Precious Metals makes use of its partnerships with leading suppliers worldwide to offer a diverse range of top-quality products at affordable prices. The company aims not to hard sell, but its goal is to have a well-informed consumer base that understands the asset they are purchasing.
It is based on the precept that traditional assets have failed, as we see throughout history, and promotes gold, silver, and other metals as wise alternatives. It encourages the use of these assets as a store of wealth, which can be a wise decision since certain coins and bars are recognized as legal tender worldwide.
Additionally, the firm will buy the products back at market value. Because gold, silver, platinum, and palladium are considered long-term stores of wealth, they are not suitable for investors looking to make a quick buck. You should aim to purchase your metals and hold on to them for at least a few decades to truly enjoy the profits they can rake in.
A Closer Look at the Bold Precious Metals Website
There’s no doubt that Bold Precious Metals has a great website. It is not only easy to use, but it also enables prospective clients and existing customers to learn more about specific coins.
Easy to Navigate
Buyers can select their preferred metal and then view subcategories of coins, rounds, and bars. Every product is carefully monitored for both pricing and supply availability, which we really liked. The great assortment of available products is also a plus.
We also appreciated the fact that the website tells you approximately how fast in-stock items ship.
Competitive Pricing
If you purchase a certain number of items, you will receive a discount. While it may not be much, it definitely helps. Due to the fees imposed by the organization when it comes to PayPal or credit card transactions, the cost per coin is somewhat greater than when you buy using cash or a check.
An Emphasis on Silver Coins and Bullion
One thing we did notice when reviewing the site was that silver bullion is far more important to the corporation than other precious metals. Preorders for several of the future silver coins are available in the thousands.
Designed to Educate Potential Customers
Moreover, the company uses its website to ensure that its customers understand the difference between coins and rounds. Rounds do not constitute legal tender. It also provides other information and resources that new investors may find invaluable.
How Shipping Works with Bold Precious Metals
Local orders of $200 or more qualify for free shipping. However, it’s important to remember that only bullion and coins count toward this amount. Fortunately, shipping is not expensive. You will pay a mere $6 for standard shipping.
If you want faster delivery, however, you can expect to pay about $7 more. Bold Precious Metals is concerned about the security of its shipments, so every purchase of $760 or more will require an authorized person’s signature upon arrival.
This security service is available on smaller purchases for an additional $3. It’s also important to remember that the standards of the United States Postal Service require that the signatory be at least 21 years old, and we are happy to report that the company complies with this rule.
When looking at customer reviews, we noticed that there were a number of issues with shipping, so this is an area that Bold definitely needs to work on going forward.
Bold Precious Metals and IRAs
New to its list of service offerings is precious metals-backed IRAs. Potential customers can use the website to learn more about investing for their retirement and sign up for an IRA that best meets their needs.
Understanding IRAs
An IRA is a kind of self-directed investment account in which precious metals can be held until the investor reaches the age of retirement. It offers complete control over the investment account and must be overseen by a custodian.
When you deposit gold or silver into an individual retirement account, the withdrawal regulations are the same as they are for other types of IRAs. This implies you are unable to withdraw without paying a penalty until you’re 59.5 years old. When you turn 72, you will be obligated to make regular minimum account withdrawals.
The penalties vary depending on a number of factors, such as how much you withdraw. Keep in mind that if you accept the delivery of any of the products that you deposited into an IRA, this qualifies as a withdrawal from the account and subjects you to fines and any tax ramifications.
Setting Up an IRA with Bold Precious Metals
According to the company, there is a simple seven-step process to set up a self-directed IRA with Bold Precious Metals:
- Create your IRA account.
- Fund it.
- Choose and order your preferred IRS-approved Bold metals.
- Finalize your purchase.
- Products are shipped to the chosen depository.
- You receive delivery confirmation.
- When it’s time to sell your precious metals, Bold will assist you.
Storage Options
Precious metals-backed IRAs are regulated by the Internal Revenue Service (IRS), and according to its rules, the assets held in this type of account may not be stored outside of an approved depository. If you do not comply with this rule, you will face penalties and a possible audit of your account.
Keep in mind that the IRS also regulates the type of metals that can be held in this type of account. They will have to meet a certain level of purity. More information can be found on boldpreciousmetals.com.
Bold Precious Metals partners with seven depositories to offer its services. They are as follows:
- Texas Bullion Depository
- Coins ‘N Things (CNT)
- Brinks Global Services “BGS” STORAGE
- Texas Precious Metals Depository (TPMD)
- International Depository Services Group (IDS Group)
- Money Metals Depository
- Delaware Depository
One of the things that we really liked when reviewing this service was that the company allows you to compare each depository by providing you with a list of pros and cons for each. This is great, as you will know exactly what you’re getting yourself into. There are no surprises, and you know what to expect every step of the way.
Selling Precious Metals in an IRA
There are some occasions where you will not be penalized for withdrawing your IRA-backed metals early.
One such occasion is when your custodian dies, and you must take control of your assets while looking for a new one. If you require funds to cover expenditures because you lost your job unexpectedly, you are also eligible.
There are additional factors to consider, of course, and it is worthwhile to get in touch with the IRS, your custodian, or perhaps a legal professional to learn about the rules and whether an exception will apply in your case.
Before setting up your IRA with Bold, we definitely recommend doing this research so that you know what to expect.
Bold Precious Metals and eBay
If you have done a Google search on the company, you might have noticed that Bold Precious Metals products are available on eBay. However, keep in mind that because there is a third party involved, you can expect to pay a markup.
With an easy-to-use comprehensive website that makes buying gold, silver, and other metals fuss-free, there really is no reason to go with eBay (unless, of course, you’re purchasing your metals from outside the US).
Does This Company Have Satisfied Repeat Customers? What the Reviews Have to Say
This Bold Precious Metals review simply would not be complete without a look into the company’s customer ratings and reviews. The truth is that anyone can simply create a website and claim to offer great services, but only legitimate service providers that place an emphasis on quality customer service and seamless processes truly succeed.
Here’s what we found when we looked at reviews on two major websites:
Better Business Bureau
The Better Business Bureau (BBB) is an organization dedicated to identifying companies that fail to provide good customer service, make false claims, or sell defective products. Bold earned an impressive A+ BBB rating.
Most of the complaints have to do with shipping issues, which were ultimately resolved.
Trustpilot Reviews
Bold Precious Metals earned an impressive 4-star rating on Trustpilot. Reviews were mostly positive, with a few negative comments coming through.
Many customers found its prices unbeatable, while others complimented the packaging and overall customer service. Here are a few positive Bold reviews we found that you might want to read:
“I’ve been buying from these guys for a while now, and let me tell you, their prices are hard to beat. I’ve noticed they’re often way cheaper than some of the big-shot dealers out there, as much as 15%. But here’s the thing: I’ve seen some people getting upset and leaving negative reviews because they have to wait for back-ordered items.
Just to clarify: back-ordered items aren’t immediately available and need some wait time, while in-stock items ship right away. Honestly? From my side, everything I’ve ordered, whether it was ready to ship or on backorder, has come through just fine. I just felt like speaking up because sometimes it’s not fair when online shops get a bad rap over misunderstandings. Oh, and check out the awesome coin I snagged from them recently!”
“Purchased from them a couple times now, never had any problems. I’m consistently impressed with the packaging. Bold gives a lot of detail to their packaging, which I appreciate.”
While most reviews are positive, there are some who claim that the company has posted fake reviews. In another negative review, a customer claims that he did not receive the store credit he was rightly due.
It’s worth noting that negative reviews are a part of the package for any precious metals dealer. No company ever gets everything right every time, but they continue to learn and adapt.
The Bottom Line
Although Bold Precious Metals is relatively new to the industry, it has made quite the name for itself since its inception in 2017. As with all new dealers, shipping issues, customer care problems, and so on are to be expected.
From what we can see, Bold takes all complaints seriously and takes the necessary steps to deal with the issues raised. With its new IRA services, this company can only grow. Unsurprisingly, its website was the highlight for us. It is very easy to navigate and use and contains a wealth of information that’s particularly helpful for new investors.
With a vast product offering and simplified checkout and account creation processes, in addition to affordable coins, rounds, and bars, it is worth a try.
However, before investing with any company, we highly recommend making a list of your requirements and doing research on other providers. In this way, you can ensure that you are choosing a dealer that best aligns with your needs and expectations.
To find more dealer reviews, please browse our website!
Frequently Asked Questions
1. Is Bold Precious Metals legit?
Yes. Bold is a legitimate, reputable precious metals dealer and IRA service provider.
2. Does the company offer international shipping?
It does not currently offer worldwide shipping but encourages interested buyers to contact the customer service department for more information. Some of the company’s products are also available on eBay.
3. Does Bold offer IRAs?
Yes. The dealer has now added IRA services to its offerings. You can learn more by visiting the website.
4. Can I store IRA-backed precious metals?
No. The IRS has strict rules on how the metals held in an IRA are to be stored. Storing your assets at home could result in a penalty and tax consequences.
About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He's also a published author, and his views on investing have been featured in USA Today, Tech Times, The Huffington Post, Nasdaq, and many more.
