A Balanced Review of SchiffGold

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Background Of SchiffGold


SchiffGold, (with the website, Schiffgold.com) is a full-service, precious metal dealer who, until 2014, was called Euro Pacific Metals.

Over its many years in the industry, the company has specialized in industry-standard coins and precious metals and also offers related services like physical gold IRAs and precious metals storage services.

However, it is important to note SchiffGold’s range of services is limited in comparison to other precious metal dealers. This is because the company’s business model is heavily centered on the value of precious metals. For this reason, SchiffGold is a major marketer of the most popular bullion around the globe.

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The Founder Of SchiffGold


Peter Schiff is an economist by profession who formed SchiffGold Company in 2010. Earlier in his career, he had already decided to specialize in the business of foreign equities, currencies, and gold.

His greatest motivation for founding SchiffGold was to provide brokerage services for clients interested in bullion.

He was mainly concerned that his clients were struggling to choose whether to invest in low-price or high-quality products; deep down felt he had the ideal solution for this particular bottleneck.

Members Of The Executive Team At SchiffGold

Peter is a firm believer in teamwork for success; he works with a team of bright and strategic thinkers in the leadership roles at SchiffGold. The following people have consistently helped Peter direct and deliver the mandate of the organization:

  • Matt Malleo, Executive Director and Sen. Precious Metals Specialist,
  • Jonathan Sosnay, Executive Director and Sen. Precious Metals Specialist,
  • Fabian Gambino, Director of Technology and Sen. Precious Metals Specialist,
  • Joel Bauman, Senior Precious Metals Specialist,
  • River Allen, Senior Precious Metals Specialist,
  • Valerie Alikakos, the Staff Accountant

They Buy and Sell Precious Metals

SchiffGold will assist you to buy your precious metals. Additionally, they buy back precious metals from clients who had not initially bought them from SchiffGold.

It is great noting SchiffGold strongly advises against the buying of numismatics because they are not easily and quickly sold to get money, without a substantial loss of value.

SchiffGold’s Retirement Plans Using Gold IRAs

SchiffGold’s Gold IRAs provide a safe plan for your retirement life; you can request the company to add your precious metals to your IRA, which pays an allowance for IRA rollovers.

For example, the company will guide you to convert your 401 (k) to an IRA which you can use to buy gold and silver. Knowing the safety of precious metals assets in the current economic markets means you would love such a plan.

Secure Vault Storage Services For Precious Metals

What if you would rather store your precious metals in a safe storage facility like a vault? Notably, SchiffGold has partnered with third-party companies offering reliable services and facilities in different places in the United States and overseas.

Safe Home Storage Of Precious Metals

There are times you need to store your precious metals near you. You can rely on SchiffGold’s professional services to have your precious metals stored in home safes that work for you.

Market Research And Analysis

SchiffGold conducts periodic and client-focused market research in the precious metals industry and the economy as a whole. The company’s different data resources can be found on the relevant social media platforms. They include:

  • Live charts for price and price indices for precious metal commodities
  • Archive resources with original commentaries from SchiffGold
  • SchiffGold’s answers to Frequently Asked Questions (FAQ)

SchiffGold’s Accepted Payment Methods

SchiffGold provides minute-to-minute prices of precious metals. However, you will accurately determine the buying price at the point of purchase, and upon reaching out to one of SchiffGold’s specialists.

Once you have reached out to one of the company’s specialists, the specialist will send an email to you with the particulars of the purchase transaction, including details like buying price, shipping, and insurance.

You can make payments to SchiffGold through methods like bank wire transfers and checks. Currently, they accept other payments like bitcoins through BitPay. Unfortunately, they lack a window for online purchases.

SchiffGold’s Shipping Partners And Duration

SchiffGold uses either of the following shipping and transportation companies:

  • The U.S. government postal service corporation
  • The United Parcel Service, UPS Shipping Company
  • FedEx Corporation

Usually, processing an order takes 1 to 2 days, while shipping takes about 2-4 days. Also, the company ships products abroad. Another keynote is that orders settled via wire transfer get cleared and shipped faster than orders paid via check.

What To Know Before You Start Working with SchiffGold

Just like a good review, it is incredibly important to highlight the negative and the positive qualities of the company under review.

A customer’s trust in an institution is based on an informed opinion formed at understanding the upside and downsides of working with a particular firm. The following are some of the reasons to work or forego working with of SchiffGold.

Company Ratings

There is not much that can be said about SchiffGold’s ratings. However, SchiffGold’s industry and ethical repute are closely hinged on Peter’s character as a leader of a direct and honest business, motivated to stick out from the industry counterparts as a trustworthy professional.

Why You Should Work With SchiffGold:

You must always consider what makes SchiffGold stand out from the rest of the companies operating in the same sphere. Most notably, SchiffGold is unlike most precious metal dealers as they turn down the sale of overpriced collectible and numismatic coins.

Apart from their high buying price, SchiffGold also declines to sell these coins because they are highly illiquid.

Also, you may choose to work with SchiffGold because of their “trustworthy and knowledgeable team of advisors who understand and share the same investment philosophies as Peter Schiff.” Shared beliefs and goals are the main basis for the company’s productive approach to cooperation.

Other reasons to consider when evaluating whether to work with SchiffGold include:

  • They claim to be one of the dealers with the lowest prices in the market
  • They have a fast delivery service of physical products to their customers
  • All their orders are fully insured against loss
  • They provide customers with a full-service package such as;
  • Buying and selling of precious metals
  • Assisting clients in investing in Gold IRAs
  • Assisting clients with IRA rollovers
  • Handling safe-keeping of precious metals assets for customers
  • Market research and timely release of market reports and forecasts

Reasons Not To Work With SchiffGold:

Sometimes the company’s unique market character may be the basis for some customers staying away. For instance, due to the company’s tough policy against the acquisition of collectible and numismatic coins, they often offer a limited number of investment opportunities.

In addition, their team is bound by strong values, mostly formulated from a limited market perspective that an economic disaster is looming and is likely to occur.

There is a risk that interactions with the SchiffGold team can influence a closed-mind market opinion on clients. In the long team, such an attitude is unsustainable and unsuitable for unrestrained investment in precious metals.

Again, the company’s ratings are not many and favorable. Unfavorable ratings greatly dent a company’s credibility and legitimacy in the eyes of its customers. There is little to say about the company’s appeal for legitimacy, with the poor count of reviews perhaps indicating a company with sunken public relations.

Also, these reviews have had several complaints. However, it is always best to read sufficient positive customer reviews before deciding on the most trustworthy dealer. Unfortunately, SchiffGold is greatly lacking in these customers’ reviews.

Finally, the company lacks an e-commerce option on its website, making it harder for some online customers to choose the product they want to buy.

Conclusion

The best company to work with is the one that speaks to your needs as a customer best.

Meaning, if you are looking for corporate firmness, then SchiffGold might be the best option for you.

Alternatively, choose a different dealer company if you find their work philosophies are entangling to your quest for financial freedom. You could pick another option from the ones mentioned below.

Schiff Gold 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.

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