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Money Metals: Is This Business a Scam?
If you are looking for an online gold and silver supplier of coins and bars you can be sure Money Metals can handle your needs.
Stefan Gleason is the founder and President of Money Metals Exchange. The company was founded n 2010 and he believes that the casual investor in gold and silver should not be buying rare, collectible, and numismatic coins as they are generally marketed up above their melt value.
A belief of Gleason's is that coin prices above melt value are rare and those who buy and sell rare coins need to have a deep understanding of their history and value.
Gleason's focus is on precious metals that are easily tradeable. You should be able to price the coin to the market and not worry about markup in coin prices that is not recoverable.
Money Metals Exchange prides itself on being discreet, dependable, and extremely competitive on pricing.
Currently, Money Metals Exchange is managed by Clint Siegner and Mike Gleason. Both men joined the Money Metals Exchange family in 2010 and run the daily business operations.
Money Metals Exchange is a full-service precious metals company that also does a little more for clients than other gold and silver businesses.
- They offer the ability to buy or sell your bullion
- They have a secure storage facility to house your assets
- You can get a loan against your gold or silver
- You can join their monthly investment plan
- They will work with your self-directed IRA.
Having the ability to work with one company and get all your needs met can make the investment process in gold and silver a much more simple process.
Money Metals Exchange Investment Philosophy
At Money Metals the belief is that the dollar is weak and the long-term viability and value of gold and silver along with all other precious metals will climb in value. The company was founded due to Stefan Gleason's concerns over the advertisement and marketing practices of business selling and touting the value of rare coins, collectibles, and numismatic coins having a significant value above the melt price. Truth is, there are few that can offer you the melt price of these products, as they have to cover the overhead cost of their business and that is why the prices is more speculative versus actual.
Mr. Gleason is the Director of the Sound Money Defense League. This group is focused on restoring gold and silver to their historic role as America's constitutional money. They work both at the state and federal levels to provide factual information regarding the government's devaluation of the dollar and its economic impact on the American people.
Given the economic turmoil, financial systems uncertainty, and inflation the value of the individual dollar has decreased. A means to hedge against these factors is to hold gold or silver outside of the "markets".
Owning physical gold allows you to have two things...
- Hedge Inflation
- Appreciation in Value
It's right there in black and white, the price of precious metals specifically gold and silver have seen significant gains in value over the past 30 years. Yes, there are individual times the spot price has declined, but overall the value has increased.
Investors need to hedge inflation and diversify their portfolios. A good option is buying physical gold and silver.
Current Specials Offered
At times Money Metals has some overstock items that are being discounted to liquidate. The products may change but here are a few they are currently offering. ** subject to change so check out their website to get more updated information.
Rare 2016 1oz Gold Libertads, .999 Pure, BU Condition
1 troy ounce, .999 pure gold coin
Graded Silver Half Dollars
1964 90% Kennedy Half Dollars
2-gram Gold Bar - Brand Our Choice, NO Assay
2 grams of .999 troy ounces of gold
Money Metals Exchange Has A Large Selection of Precious Metals to Choose From
When you head over to the Money Metals website you will find a LARGE selection of coins and bars to choose from.
The benefit of shopping online is you have the price for the product right in front of you when you add the gold or silver to your checkout.
The coins and bars acceptable for your self-directed IRA are also marked clearly so you don't need to do any research on whether it is approved or not. Money Metals has done the work for you. The convenience of prices on the website gives you the opportunity to compare prices with other precious metals companies or your local coin dealer.
Here are a few options currently being offered. Check out the website to get all the current offerings available.
What Other Products Does Money Metals Carry
Copper - Bullion Rounds, Bars, & Pennies
Pre-Made Precious Metals Portfolios - Get a unique portfolio of investment ideas including
- 9-piece Silver Starter Kit
- Gold/Silver Investment Portfolio
Gift Ideas - Celebrate Special Occasions
- Gold Bracelet - Wearable 1-troy ounce
- Wood Box Displays for Coins
- Gold and Silver Books for Investment Information
- Book Safe - to secure your investment at home
Goldback - Spendable Pure Gold Bullion - several denominations available
What Other Services Does Money Metals Provide?
Yes, start by looking at Money Metals for all your purchasing needs for gold and silver, but also consider them for all the other services and unique offerings they provide.
Buy Gold or Silver - large selection of offerings from coins to bars, junk silver, and Goldbacks
Sell Gold or Silver - Money Metals wants your precious metals. They typically purchase similar items to those they offer on their website but will consider other bullion as well. It does not matter if you originally purchased from Money Metals they will buy from anyone.
Secured Depository Storage of your Gold and Silver - whether you purchase with CASH or through your IRA Money metals have their secure storing facility.
IRA Programs - Money Metals works directly with your IRA and helps you choose the right precious metals to diversify your portfolio. They do not set up the IRA, you would need to have the IRA set up and funded, but they will help you purchase the precious metals that qualify and with their secure storage depository you can be sure they will safely hold your assets.
Monthly Gold or Silver Savings Plan - here is a unique option not found with other precious metals dealers. You can get on a monthly investment plan where once a month they will set up an automatic withdrawal and invest those funds into your gold and silver physical assets. You can bank up your funds and purchase once you have an amount collected to buy specific items or you can invest monthly based on your account balance. This is called dollar-cost-averaging and you get prices based on current spot pricing.
Loans Against Your Precious Metals - Borrow against your current portfolio of Gold and Silver. Another unique offering by Money Metals. Instead of selling your precious metals when times get tough, you can get a loan against your investments. They offer low-interest rates and interest-only payments, a 75% LTV ratio against your portfolio, they have a quick underwriting process, and you store your metals in their secured storage facility while in the loan timeframe.
Is Money Metals Exchange a Scam?
No, Money Metals is not a scam, they are a legitimate business operating out of Eagle, Idaho. They do not have a storefront where you can shop for investment gold, but you are able to contact them through their website or via the phone.
Money Metals started operations in 2010 by Stefan Gleason and has been in existence since that time. They have been named "BEST IN USA" by Investopedia and have an A+ Rating by the BBB.
We typically look at two to four different sites with reviews and information to provide our readers with a clear understanding of how others feel about companies. Here is the information we found from the BBB, Trustpilot, and the company's Facebook page.
The Better Business Bureau has Money Metals Exchange rated as an A+
They have a 4.31 out 5 rating
They have 144 Customer Reviews
38 Customer Complaints in the last 3 years
13 Complaints closed in the last 12 months
Complaints on the BBB:
Reviews Found on BBB Website
30 Reviews on Trustpilot
2.3 out of 5 Stars
Reviews Found on Trustpilot Website
173 Reviews for Money Metals Exchange on Facebook
4.5 out of 5 stars rating
Reviews Found on Facebook
Pros and Cons of Money Metals Exchange
Final Thoughts on Money Metals Exchange
Money Metals is a viable option for investors to purchase their precious metals. The company offers and does more than just sell precious metals. Having a business that will help with IRA purchases, lend against your current assets, and offer a monthly service to purchase allowing a dollar-cost-average option makes this company a reasonable option when investing.
Like other businesses we strongly suggest you do your own due diligence before making any investment purchase. We provide reasonably available information for you to help gather any and all information that will inform our readers.
With any business, you have individuals who love them and who can't find good in anything they do. You have the same with Money Metals Exchange. Many complaints are anonymous and with that, you need to consider the source. In today's world, it is easy to have competitors or services writing negative reviews with no face to a name. We believe you should consider all the information and review the company before making investing choices.
If you are not comfortable with purchasing online, reach out on the phone to talk with a live person to get all your questions answered.