Finding the right place to purchase precious metals online can be more challenging than some people may think. Considering precious metals are a considerable investment for most, it’s vital to find a company that offers the best price possible for them.
Thankfully, there are many companies with excellent reviews, sales, and many more features. Putting it into a few words, it’s vital for investors to choose the right business to purchase their gold and silver coins.
This article is going to go over the Money Metals Exchange, which is a business that has been working for its customers since 2010.
IMPORTANT – before we get too far in this review, we’d like you to know we’ve vetted quite a few companies in this space.
We know that selecting a company to work with is a major financial decision and something not to take lightly. InvestingInGold.com has put in extensive research spanning many years in order to compile a list of the 5 highest recommended companies for this year.
We urge you to view the links to see where Money Metals Exchange stacks up against the competition.
What Is the Money Metals Exchange?
According to the company, the Money Metals Exchange is a private and secure website where people can purchase gold and silver coins in exchange for fiat currencies. The Money Metals Exchange has worked with over 20,000 industry dealers and investors worldwide, making it one of the most reputable bullion dealers online.
One of the Money Metals exchange’s goals is to educate people on how bullion dealing works so that they can execute transactions in the safest way possible with reasonable pricing. Other sites focus on professional bullion trading, so having the Money Metals Exchange as a beginner-friendly website is excellent news.
In essence, the Money Metals Exchange is perfect for bullion buyers looking for pre-made portfolios. People who are looking to purchase numismatic coins may have to look elsewhere for their service.
According to the Money Metals exchange’s president, Stefan Gleason, and its director, Mike Gleason, precious metals should be bought at or near the spot price of either gold or silver. Another thing that makes the Money Metals Exchange a great website is that it offers fairly lower prices for silver and gold coins, which allows investors to purchase a larger quantity of these precious metals.
How Can People Purchase Precious Metals Through the Money Metals Exchange?
As mentioned before, the Money Metal Exchange’s platform is beginner-friendly; this means that it provides all the resources a beginner or professional needs to process their transactions for silver and gold coins without any problems. Moreover, the process of purchasing any kind of precious metals is fairly easy.
Creating an Account and Exploring the Website
First, the person must create their account to start making exchanges with the Money Metals Exchange. All the person needs to start is to provide personal information to the company, such as full name, email address, and other basic information. It’s important to note that account owner must provide accurate and up-to-date information to the company to prevent any payment issue or more trouble with their gold/silver in the future.
The Money Metals platform is fairly easy to understand, which is why it’s highly recommended for beginners who are looking to find sales on gold or silver. Overall, the platform’s product categories may be found at the top of the homepage.
Clients can go into the product category they want (i.e. gold or silver) and click on the product they want to invest their money in. Once they’re done with that step, the client can continue to the checkout page on their browser, where they can verify the order’s details/prices and pay for it.
It’s important to note that people who initiate the checkout order with the company must comply with its price lock. In essence, the Money Metals Exchange locks in the price for the coins for up to 10 minutes. People using the service are going to notice a big timer at the top right corner of their screen.
Money Metals’ clients must complete the checkout processes by entering their full name, shipping address, and payment method. If the person doesn’t log into their account, they may not be able to complete this step.
Once the client is done with each step, they’re going to receive a confirmation email from the company.
Which Payment Methods Does the Money Metals Exchange Accept?
Thankfully, the Money Metals Exchange accepts several different payment services to complete their order. The following is a list of all the paying services customers can sign up for to this day:
- Bank wire transfer
- Crypto transfer
- Credit/debit card
- Money order
- Personal check
The Money Metals Exchange may also accept ACH transfers.
It’s vital to consider that the Money Metals Exchange may have different “expected” delivery estimates depending on the method the client used to pay for the order. Overall, the expected processing time may range from one up to 10 calendar days. The only exception is for wire transfers, which take from one to two business days to complete.
Aside from gold and silver coins, this company works with the following lineup of precious metals:
How Does Shipping Work with the Money Metals Exchange?
Overall, the business has stated that most orders ship within 48 hours of payment clearance. Additionally, shipping costs may vary depending on the order. Thankfully, the business is fairly honest with its contacts, so all orders are fully insured and require a signature to get delivered.
Orders ranging from $149.99 to $499.99 may have a shipping cost of $6.97, whereas orders over $500 don’t have to pay any shipping costs.
The following section in this Money Metals review explores options for people not planning on purchasing a package or gold or silver coins, but rather to sell it.
Selling Gold or Silver Coins to the Money Metals Exchange
People who purchased physical metal may also sell it to the Money Metals Exchange without any high-pressure problems. The business offers a fairly simple service for those who want to trade their coins with it.
Here’s everything investors need to do to sign up for the service and start selling their silver or gold:
- One – Call the Money Metals team during business hours to receive a buyback price.
- Two – If the investors are happy with the price they’re getting paid for their silver, they can confirm and lock in the price
- Three – Follow the business’s shipping instructions for customers
- Four – Ship the order to the Money Metals Exchange team’s location
- Five – Wait until the business receives and inspects the shipment. If everything is good to go, the business is going to release the money to the investors
Additionally, investors and contacts need to comply with the company’s package requirements, which are the following:
- The bars must be labeled with an insignia or the manufacturer’s name
- The bars or rounds must be marked with their purity and weight
- The bars must be clean and uniform
- Any coins manufactured before 1965 must be minted
Any contacts who don’t know whether their coins may get purchased by the team may join a live chat or ask through phone or email.
Is the Money Metals Exchange Reputable?
People who willingly gave their funds to the business’s service in exchange for coins are mostly happy with the results. Overall, the business’s headquarters are located in Eagle, Idaho, and it’s listed in the Better Business Bureau (BBB), giving it a higher grade of credibility. Users may check the BBB for user reviews and other resources in the Eagle, Idaho area.
The BBB gave this company an A+ rating based on its criteria in years of business and responses to complaints, which makes it an honest and reputable business. Additionally, the BBB doesn’t have any registered complaints to date.
As for the service itself, this company makes sure any purchased items get inspected and delivered to the client’s location perfectly. Each purchasing order comes with full tracking information, and each selling order gets paid in full once the company’s contacts verify that everything is good to go. It’s also vital to point out that the website uses SSL encryption certified by DigiCert, allowing contacts to protect any sensitive data during each transaction.
While there aren’t many reviews for this exchange online, most of the available ones are quite positive. Overall, most people are happy with the resources and profit the company offers for sellers, although some of them complain about shipping delays in some reviews.
What Are Some of the Best Features of Money Metals?
Thankfully, this company’s service includes some of the most reliable features users may make the most of during their investment processes. The following is a list of some of the company’s best features to date:
- Storage Options: Users may have their orders shipped to depository accounts
- Live Pricing: All of the prices on the website are updated in real-time
- Premade Portfolios: As mentioned before, this website is perfect for beginners since the team offers pre-packaged portfolios for them
- News: Users can access historical prices for precious metals, as well as price alerts for particular ones to review their options
Can People Store Bullion with Money Metals?
Yes! Investors can use their first check or any future orders to place their metals in a depository account. Overall, these people can open an account via their phone and use the company’s depository building in Eagle, ID. These vaults are fully insured and use UL Class-3 protection.
The company works with annual storage fees that are billed quarterly, and they mostly depend on the value of the person’s holding. In case the person’s holding goes over three million dollars, they must contact the Money Metals team promptly.
Here’s a list of the company’s annual fees based on approximate holding values:
- Up to $15,999 – $96 in annual fees
- From $16,000 to $99,000 – 0.59% from the total value in annual fees
- From $100,000 to $999,999 – 0.49% from the total value in annual fees
- From $1 million to $2.9 million – 0.39% from the total value in annual fees
Money Metals is one of the best exchanges where people can easily buy precious metals without any problems. Additionally, people looking to make a profit may also sell their metals to the company and get a reasonable buyback price. One of the most attractive features for users is the company’s premade portfolios, which makes the experience for new buyers much easier and reliable for them.
Unfortunately, some people are not happy with the restrictions the company has for some paying methods, and some fees may not be the most appropriate for particular cases. Still, it’s a great option for those who are looking to invest in these assets.
People looking to invest their portfolio with precious metals may talk to the company’s support team via phone on weekdays, emails, and live chatting.