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Are you curious about Amagi Metals? This company deals in precious metals. They do business online primarily.
Through Amagi, you can buy gold, copper, platinum, and silver. If you're into novelty items, there are collectibles and accessories available. This dealer claims they want to help consumers invest responsibly.
Choosing any company to do your investing with is a big decision. As such, you need information you can trust and count on. This review should help you see whether or not Amagi will suit your needs or not.
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About Amagi Metals
This precious metals dealer sells physical products to consumers interested in such things. They make their sales online. You can visit their website, fill up your e-commerce cart, and then check out like you would at many other websites.
The company has offices in multiple states. They include Texas, Nevada, and Oklahoma. Even though they're based in the United States, they offer their sales and services to many international clients.
Amagi has a stated value of protecting the privacy of its customers. Except when required to do so by law, they don't sell the data or information about their clients to any third parties.
They also have many security measures in place as they constantly update and audit their website. While they take many steps to keep financial and individual information secure, they also work hard to keep precious metals safe while they are in transit.
Shipping always happens with insurance. The packaging is also discreet. Shipping with insurance and discreet packaging are great commitments by Amagi. However, practically every dealer of precious metals does this.
Meeting industry standards doesn't set Amagi apart from everyone else. Another stated goal of Amagi is simplicity. The professionals working for this business try to speak to everyone in terms they can understand.
They do this for both experienced investors and anyone new to the precious metals scene. Their commitment to simplicity also extends to their business operations. You are unlikely to get hit with hidden fees. Their return policies are also usually fairly simple.
Amagi also claims to emphasize great customer service. They claim that they treat every customer as an individual. In theory, they try and get to know every investor's specific needs and goals so they can tailor service to them.
It's normally great to hear this from a company, especially in the precious metals investment industry. However, Amagi has numerous bad reviews that make this commitment questionable at best.
On top of many of the reviews being bad, quite a few of them are notably angry.
Is This Precious Metals Dealer a Scam?
Looking deeper into Amagi Metals, it looks likely that they're legitimate as a business. Proof of them being a scam is hard to find. That being said, there are multiple warning signs about dealing with them.
For starters, Amagi isn't rated or even accredited by the Better Business Bureau, which is a common industry standard among precious metals dealers. The BBB doesn't rate businesses if it can't find enough information to formulate a rating.
This organization has had trouble finding out enough about customer service resolutions, company management, or the policies in place. The BBB website lists no complaints, but there are no reviews either.
Yelp reviews average 3/5 stars. However, the last positive review was written in 2016, and recent reviews have all been inherently negative. Yelp lists the company as being closed. However, the online presence seems to still be active.
It's nearly impossible to determine whether the information through Yelp is wrong or whether Amagi has a physical storefront that is closed instead of working only online.
Amagi's ownership did change hands a few years back. They closed down for a short while before being opened again. The current owner is a company known as Anthem Vault.
When they did reopen Amagi, Anthem Vault pretended as if the company had never actually stopped operations. Sadly, Anthem Vault has similar warning signs to Amagi. Transparency issues abound, and customer service complications are widespread.
Something that is particularly puzzling is how little information there is about what transpired before Amagi's ownership changed hands. While the company looked like it closed, they were still taking money for any order placed online.
Someone filed a complaint through an attorney general's office, and at least one reviewer claimed to have been scammed and lost their money. It looked like Anthem acknowledged things going wrong with Amagi.
As the new ownership took place, they started emailing past customers with a promise of new management fixing things. They distanced themselves from the prior owner, who by then was facing accusations of criminal actions.
Even with this attempt at improved publicity, Amagi still gets negative reviews and complaints. The blowback against the company is the same as it was before. This is despite being owned and managed by Anthem Vault.
Complaints Customers Have Made About Amagi Metals
Yelp lists many bad customer reviews. They're especially problematic for one good reason. They seem to be the lone source of information available about Amagi Metals. Third-party reviews are nearly impossible to find.
The BBB has no content about them. Many other online watchdogs seem to be devoid of information about Amagi Metals, too.
One particular customer claims that Amagi is just the third dealer he's used for precious metals throughout his entire life, but his experience was seriously bad. When he placed an order for many silver bars, he paid immediately using Bitcoin.
The payment when through, but Amagi didn't ship out the order for several weeks. Three weeks passed, and Amagi still hadn't even provided a serious shipping date. The customer requested an order cancellation so his cryptocurrency could be refunded.
Amagi said they wouldn't be able to cancel the order, and the customer got his order approximately a month after he made the payment. The issues with this customer's order go deeper than that.
When the customer got his order, the silver bars weren't in airtight containers. They were zipped up inside plastic bags. The customer has stated that shipments from other dealers haven't been like this.
They're typically sealed professionally with high-caliber bars. The bars from Amagi were damaged and scratched. Another customer indicated that he paid for an order and had similar delays.
After two months, he hadn't even received a shipping notification. Delays such as these are common among questionable operations. Another customer warned others to be very cautious. He claimed that the customer service he got was extremely poor.
He thought their behavior was very strange. His first order had several issues, albeit minor ones. The order did finally come through.
However, he then discovered the phone number for the company was disconnected, and they also stopped responding to his emails. This customer claimed that doing any business with Amagi was a bad idea.
If you wind up needing help with an order, they're likely to ignore you. That's not good in any industry, but it's appalling in precious metals of serious value. Another customer claimed they waited two months for their delivery. It never showed up.
They assumed that they had been scammed and even felt like the company owners should be investigated. This particular complaint did generate a business ownership response. The owner at the time claimed to be Anthem Vault, based out of Las Vegas.
They said the previous owner was no longer associated with Amagi Metals. Anthem Vault made several changes. One of them was allowing Bitcoin payments for those interested in buying precious metals.
Free shipping was also offered for follow-up orders to returning customers. The reviewer said that even with the ownership changing, the customer service at Amagi was still as bad as ever.
They placed an order on one day and paid the very next day, only to be told that the order would ship two weeks later. When the shipping date happened, there was no response or activity.
Company ownership didn't respond to this complaint. At the time of writing, it was not known if this customer had ever gotten his metals. There was no information about a refund either.
Yet another customer review didn't shine a good light on the new ownership. They claimed that when the company had new owners, they started getting spammed with multiple emails practically begging them to return.
There were constant promises of improved management. This customer highlighted how Amagi's prices were notably higher than their competitors. They also pointed out many precious metals dealers offer free shipping when Amagi doesn't.
They were left with the impression that the new owners had the same problems as the previous regime in charge. A June 2015 review claimed that the company had closed. Emails were not answered, and the phone line was disconnected.
Yet, the website was still taking money, and this resulted in a referral to an attorney general's office for criminal suspicions. This looks like it happened before Anthem Vault took over. Amagi Metals opened back up.
However, reviews that have been written since then make the company look just as bad as ever.
Is Amagi Worth It?
Ultimately, you will have to make this decision for yourself. Amagi Metals seems to have a decent selection of products. They offer gold, platinum, and silver. They also have collectibles, accessories, and copper options.
However, the customer reviews are not good, and many even allege fraud. Verifying information about the company is hard, and they seem to take payments even if it's not obvious that they're even open for business.
Orders are often delayed, expensive, and packed badly or even damaged.
There's not enough evidence to call Amagi Metals a scam, but there's more than enough to suggest they are some red flags with this business.
The precious metals industry has many options with positive customer feedback and a solid reputation. Find one of those to invest with.
Amagi Metals seems to be an ok company, they are not a scam, but we do not recommend them.
They are also not the best if you're looking for a gold dealer to invest in precious metals or to set up an IRA with them, there are much better options for investors.
You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:
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Or, if you like what you have read about Amagi Metals, you can go to there website below:
I started BMOGAM Viewpoints as a way to compile all my views on investing in one place. I own my home, have some real estate, and own a few stocks like most people, but what really drives my interest in investing is I have a strong love of precious metals, especially gold.
