Money Metals Exchange Review

Money Metals Exchange Review

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What is Money Metals Exchange?


Money Metals Exchange is a national bullion dealer that enables customers to buy, sell and own investment-grade metals.

Clients can make their purchases using cash or various forms of payment, including wire transfers, checks, credit/debit cards, electronic funds transfers, and cryptocurrencies such as Bitcoin. 

The company offers a wide selection of gold and silver bullion available at highly competitive prices for immediate delivery through Money Metals Depository Accounts.

It features some of the lowest premiums in the industry for all coins, rounds, and bars it sells.

In addition to trading physical bullion products for customers across the United States, Money Metals Exchange operates MoneyMetals.com as an online retail division focused on providing investors with direct access to physical bullion at the lowest possible price using market-based pricing.

Before we get started with this review:

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We created a list of our highest recommended investment companies, to make comparing and choosing the company best suited to your needs as easy as possible.

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What Products does Money Metals Exchange Offer?


The money metals exchange has an impressive collection of metals up for sale:

  • Gold

American Eagles, European Gold Bullion, Canadian Maples rounds, coins, bars, and fractionals in various weights.

  • Silver

Bars, bullets, fractionals, and rounds in multiple weights.

  • Platinum

Australian, Canadian and American coins with bars in diverse weights.

  • Copper

Buffalo rounds, peace rounds, Morgan heads, and 1- ounce copper bars.

  • Palladium

Maples and Palladium eagles are present together with bars of diverse weights.

  • Rhodium

It is available in 1- and 5- ounce bars.

What is the Buying Process from Money Metals Exchange like?


the money metals exchange's logo

Using its online purchasing process, buying metals from the exchange is easy, secure, and fast. Under the "Buy Silver" tab of the website's menu, you can see all the products on offer for sale at any given time. 

Once you choose an item you want to buy, click the blue "Add to Cart" button for that product. For simplicity, the exchange only lets you purchase one product at a time, but if you would like more than one, please repeat this step as many times as needed.

Creating an account is unnecessary except for customers who wish to track their purchases or set up new subscriptions, which entitles them to special discounts and even free rounds every month. 

Once you have added everything you want to your cart (and edited your order if you like), click the blue "Check Out" button in the upper right-hand corner of the screen. 

You will need to register an account or log in and enter all your billing and shipping information.

You can save this for easier reorders by clicking on "View Cart," located at the top left side of your screen, and choosing the option to keep it stored with your user name.

The whole process takes about ten minutes to complete. After placing your order, you can expect delivery within 1-5 days, depending on your location to the depository. 

If there are any problems with your purchase, you can call the company or shoot them an email.

What is the Selling Process from Money Metals Exchange like?


You can sell Palladium, Gold, silver, and platinum to the money metals exchange using the following steps:

  • 1. Give the exchange a call during business hours through their 800-800-1865 number. A representative will give you a buyback price.
  • 2. If you are satisfied with the company's quote, you can confirm your order by locking in the price.
  • 3. Go to your email to check your purchase order. Follow the shipping instructions.
  • 4. Send the order to the money metals exchange.
  • 5. Money Metals Exchange will verify your shipment based on weight through an independent third-party scale service provider using the most current prices available.
  • 6. The final price that you will pay is based on the live bid and ask prices for the metals at the time of verification. Typical settlement times are two business days but may vary according to market conditions.

Always ensure that your metals satisfy the firm's buyback conditions before giving them a call.

Are Money Metals Exchange’s Prices Competitive?


Money metal exchange is slightly pricier when compared to similar competition. However, it offers excellent buyback prices if you are a seller.

Buy Prices

A spot check on the money metals site on May 2020 revealed that the company sold an ounce of American eagle coins from an uncirculated random year at $1,867.70. The price was steeper than JM Bullion and Golden Eagle, which are competitors. 

However, the difference was not much as they only differed by $25 and $ 4, respectively. PayPal and credit card payments will attract a further 4% fee.

Sell Prices

Money metal exchange may offer average prices for buybacks, but it is slightly above what competition offers. For instance, on the same date, the company was paying $1,776.70 for an uncirculated American eagle.

The price is more than $1,752.21 offered by JM Bullion and $1,750.75 on offer from Golden Eagle Coin.

Is Money Metals Exchange Safe?


Yes. 

Money Metals Exchange is committed to the privacy of its customers and will never disclose any information about your account (including your name or email address) with anyone but you. 

It does not sell its customer lists or share them with other companies. 

MME's website uses SSL (Secure Socket Layer) technology to encrypt personal information such as credit card numbers, names, addresses, and phone numbers. 

Additionally, the corporation is a member of the Better Business Bureau, whose commitment is to make your transactions straightforward and secure. 

All purchases at Money Metals Exchange are handled by highly experienced professionals following state and federal law.

Pros


  • Privacy: The company will never sell your information to anyone under any circumstances.
  • Convenience: The most convenient way to acquire gold and silver is through the Money Metals Exchange.
  • Live pricing: There are real-time updates of prices of Money Metals Exchange
  • Pre-made portfolios: If you are a beginner investor in the bullion world, the exchange offers pre-packaged multi gram, silver, and gold portfolios.

Cons


  • Transaction Fees: You will incur an additional 4% fee when using your credit card to pay. PayPal also attracts an extra cost.
  • Limited Support: The exchange does not have 24/7 support. Its representatives are on during weekdays only.
  • Payment Method Restrictions: Depending on your payment method, there is a cap on the maximum and minimum you can pay.

Storing Your Bullion and Fees


Delivered Storage Accounts:

Customers may purchase coins or bars, which you will deliver to Money Metals Exchange's vaults. 

Each deposited item is assigned a unique physical serial number, which allows it to be tracked by Money Metals Exchange.

Storage Accounts:

Customers may purchase any item in stock at Money Metals Exchange and leave it with us for safekeeping for a minimal fee of 0.46% per year, based on the market value of the items.

Sealed Monster Boxes: 

These are high-security storage options available only from Money Metals Exchange, and they are a great new way to get total protection from theft or damage.

Does Money Metals Exchange Disclose Customer Information to the Government?


No, Money Metals Exchange does not voluntarily disclose to government officials, law enforcement agencies, or any other third parties any personal information about its customers without first being presented with a valid search warrant issued upon proof of probable cause. 

Additionally, the company does not provide specific transaction information that discloses or identifies a particular purchase or sale of metals made through it - handled with discretion and anonymity.

Lastly, the corporation reports federal violations to the authorities as soon as it becomes aware of them.

What Is the Minimum Amount of Gold You Can Buy?


The minimum quantity of gold you can buy as a private investor is minimal. It is one gram.

But since gold bars are on sale in troy ounces, your investment budget and dealer's transaction fees and premiums will determine the minimum amount you can afford.  

But even if you want to invest a large sum of money, there are still ways to buy gold bullion without going above that threshold.

That's because dealers break down orders into smaller amounts called "lots" for convenience purposes, such as having more than one order at a time.

What Are Customers Saying About Money Metals Exchange?


Currently, there are 957 reviews of the company on the review site Yelp. The majority of customers seemed to be happy with their purchase and expressed it by giving Money Metals Exchange a high score on Yelp. 

Customers give positive feedback on the service representatives they describe as competent and courteous. However, there are complaints of lack of customer support during the weekends and delays in shipping.

Real Customer Reviews


"This Metals exchange seller and purchaser is reputable. Purchasing my metals were easy and I enjoyed the process, selling my metals back, the prices were lower than purchasing. That is acceptable. I am going to purchase again. I like the consistency."

- Anjuvachi S. on BBB

"AVOID this broker! They ship with USPS signature required. My order was confirmed delivered with my signature. Only thing is I DID NOT RECIEVE the shipment. Their "investigation" of 3 hours showed that USPS GPS confirmed location. 

My only recourse is the police or USPS. They washed their responsibility away. Many (ANY) precious metal brokers are safer!"

- Robert L. on Trustpilot

Why Put Gold in Your IRA?


Individual Retirement Accounts (IRA) protect your retirement as well as your family's financial security.

These special accounts allow you to set aside tax protected savings that you can use in the future.   

With these long term accounts it's important to allocate a significant portion to assets that are solid and reliable, so you have a secure retirement. 

a couple listening to a financial advisor

You can have cash in an IRA, but that is devaluing at a rapid pace and inflation is out of control

You need an asset that's dependable, retains it's value, and even increases in value over time, and there is no better asset for this than gold. 

With the world's economy struggling through lockdowns, shortages, wars, and inflation, uncertainty has never been higher and investors are protecting themselves by placing physical gold in IRA's. 

A gold IRA investment prospers from these crisis that negatively affect most other assets. 

Risk is knowing the economic dangers and doing nothing to protect yourself and your family. 

Safety is knowing the economic dangers and taking action to protect your financial future, and this is easy to do with a gold IRA.

Conclusion

Money Metals Exchange is awash with various precious metals for its customers. Additionally, it has pre-made portfolios for newbies. The firm also avails direct storage options to customers. 

On the downside, it has limitations on processing costs and payment methods, derailing the checkout process. During weekends customer care support is unavailable. 

You can explore the available investment opportunities to expand your portfolio of precious metals.

Money Metals Exchange is a decent company, they are not a scam, but they are not the best choice like other companies we have written about on this website.

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:

>> CLICK HERE to read our list of the Top Gold Investment Companies. <<

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