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Background Of SchiffGold
SchiffGold, accessible via Schiffgold.com, is a distinguished full-service precious metals dealer, formerly known as Euro Pacific Metals until its rebranding in 2014. With a storied history in the industry, SchiffGold excels in providing industry-standard coins and precious metals, offering specialized services such as physical gold IRAs and secure storage solutions.
Although SchiffGold's offerings may appear more focused compared to other dealers, this specialization highlights their unwavering commitment to the intrinsic value of precious metals.
Consequently, SchiffGold has emerged as a leading marketer of some of the world's most coveted bullion.
Continue reading to uncover what truly sets SchiffGold apart in the competitive precious metals market.
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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:
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.
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 and comfortable retirement.
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.
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:
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:
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.
SchiffGold Pros
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:
SchiffGold Cons
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.
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 Schiff Gold, you can go to their 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.
