Money Metals Review - Is It Legit? [2022 Update]

Ever heard of money metals? This gold IRA and precious metals investment company seems to be at the top of the list for investors interested in purchasing precious metals and in protecting their financial futures.

In this money metals exchange review, we are going to delve into what it’s all about, how this company works, what it sells and what people have to say. At the end of it, I will answer some of the most frequently asked questions about money metals and gold IRAs

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Money Metals Exchange Review

Table of Contents

What is Money Metals Exchange?

Money Metals Exchange is a national bullion dealer that enables customers to buy, sell and own precious metals. The company also assists customers in establishing a precious metal IRA to secure their futures.

Gold and other precious metals are often cited as great ways to invest during a financial crisis. We’ve seen gurus like Adam O’Dell (A9 Gold Stocks) and Adam Baratta (Gold Is A Better Way) extol the benefits of investing in precious metals.

Money Metals offers live pricing and direct storage options for a variety of precious metals that are available on their extensive inventory. They also offer highly competitive prices for immediate delivery through Money Metals depository accounts.

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.

Furthermore, 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.

The Money Metals Exchange website has a comprehensive “News/Resources” section providing customers with numerous educational resources including an education center, podcast, precious metals charts, and an FAQ section.

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

Its headquarters are located in Eagle, Idaho and the company does about $4.6M in gross revenue and employs 21 individuals.

Who founded Money metals?

Money metals exchange was founded in 2010 by Stefan Gleason.

Stefan graduated from the University of Florida with a political science degree.

He started Money Metals while serving the president of a financial newsletter subscription company. This experience taught him to understand the value of connecting with customers using content.

He founded the company due to his concerns over the advertisement and marketing practices of businesses selling and touting the value of rare coins, collectibles, and numismatic coins having a significant value above the melt price.

Stefan Gleason 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. 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.

His main focus is on precious metals that are easily tradeable. He believes that one should be able to price the coin to the market and not worry about markup in coin prices that is not recoverable.

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.

What does Money Metals Exchange sell?

Money Metals Exchange has a massive inventory precious metal products to offer. Many of the available coins and bars are IRA-approved.

Some of the metals available in their collection are:

Gold

Includes gold coins, rounds, jewelry, bars and fractionals with items from Great Britain, Canada, Australia and China such as American Eagles, European Gold Bullion and Canadian Maples bullion.

The company’s 1-ounce gold bullion bars are currently listed at only $62 over the daily spot price which is more favorable compared to the $85 offered by other American dealers.

Silver

There are silver coins, rounds, bars, bullets and fractionals of various weights. Statues are also available.

Money Metals Exchange offers 1-ounce silver bullion products at $5.50 over spot price, which is about 35% higher than the current market rate. This aligns with what their competitors have to offer.

Copper

Copper comes in rounds, pennies and bars such as Peace Rounds, Buffalo Rounds, Morgan Heads etc.

Platinum

Platinum coins, bars and jewelry are all available on Money Metals Exchange such as American, Australian, and Canadian coins with bars in different weights.

Palladium

Palladium is only available in coins and bars of different weights. Examples are Maples and Palladium Eagles.

Rhodium

This metal is the least diverse and it comes in 1- and 5-ounces bars only.

Money metals exchange also offers other products and services that include:

Pre-Made Precious Metals Portfolios

These are unique portfolios of investment ideas and there are two types:

9-piece Silver Starter Kit– It contains (1) American Silver Eagle 1-oz coin, (1) Canadian Silver Maple Leaf 1-oz coin. (1) Walking Liberty 1-oz round, (1) Walking Liberty 1/2-oz round and (5) Walking Liberty 1/10-oz rounds. The kit costs $118.22.
Gold/Silver Investment Portfolio

Gift ideas

This package comes in handy whenever you want to celebrate a special occasion and offers products such as:

Gold Bracelet – Wearable 1-troy ounce
Wood Box displays for Coins
Gold and Silver Books- for investment information
Money Metals exchange safe(book safe)- to secure your investment at home

Buying Precious metals

Money metals 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 them as they accept offers from all sellers.

Secured Depository Storage

This company offers secure depository storage options whether you purchase your precious metals with cash or through your IRA. You can have your order delivered to the depository building with Money Metals directly.

There are UL Class 3 vaults in the building and the Money Metals Exchange’s Lloyds of London insurance policy completely insures depository accounts.

Compared to other exchanges and storage facilities, Money Metals Exchange charges a very reasonable fee of $96 annually on holdings valued at 0-$15,999. Amounts starting at $16,000 up to $2,999,999 will be charged a percentage of the total, and clients would have to call for pricing for holdings $3,000,000 and above.

THE IRA Program

Money Metals works directly with your IRA and helps you choose the right precious metals to diversify your portfolio.

Though you will have to have your IRA already set up and funded, 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

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.

This allows you to save up funds and purchase once you have an amount collected to buy specific items or 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

Money metals provides the option to borrow against your portfolio of gold and silver. Instead of selling your precious metals when things are a bit rough, you can get a loan against your investments.

They offer low-interest rates and interest-only payments, a 75% LTV ratio against your portfolio, have a quick underwriting process and you get to store your metals in their secured storage facility while in the loan timeframe.

What is the buying process with Money Metals Exchange?

Buying from Money metals exchange is easy, secure and fast using its online purchasing process. It will only take about 10 minutes to complete.

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. To keep things simple, the money metals exchange website only lets you purchase one product at a time. You will need to repeat the process if purchasing more than one product.

After adding everything you need to the cart, click the blue “Check Out” button in the upper right-hand corner of the screen. From there, you will need to register an account or log in and enter all your billing and shipping information.

For easier reorders, you can save this information 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.

Once you have placed your order, you can expect delivery within 1-5 days, depending on your location to the depository. In case of any problems encountered, you can contact money metals exchange via call or email.

You do not need to create an account unless you wish to track your purchases or set up new subscriptions, which entitles you to special discounts and even free rounds every month.

How does the selling process with Money Metals Exchange work?

You can sell Palladium, Gold, silver, and platinum to Money Metals exchange. First you must ensure that the precious metals conform to the company’s buyback guidelines before contacting them.

The guidelines are:

Both the weight and purity should be marked on rounds and bars.
The manufacturer’s name should be marked on the bars.
The precious metals ought to have a saleable appeal, also uniform and clean.
Half-dollars should be minted including quarters and pre-1965 dimes.

Once that is confirmed, the selling process becomes easy when you follow these steps:

Give Money Metals a call during business hours through their 800-800-1865 number. A money metals exchange rep will give you a buyback price.
If you are satisfied with the company’s quote, you can confirm your order by locking in the price.
Go to your email to check your purchase order. Follow the shipping instructions.
Send the order to Money Metals Exchange.
Money Metals Exchange will verify your shipment based on weight through an independent third-party scale service provider using the most current prices available.
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.

Storing your Bullion and Fees

Delivered Storage Accounts:

You 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:

You may purchase any item in stock at Money Metals Exchange and leave it with them 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. They are a great new way to get total protection from theft or damage.

How competitive are Money Metals Exchange’s prices?

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

Buy prices

A check on the money metals site on May 2020 showed that the company sold an ounce of American eagle coins from an uncirculated random year at $1,867.70. The price was much higher than JM Bullion and Golden Eagle, which are competitors. There was a small difference of $25 and $4 respectively.

The company charges a 4% fee when you purchase via PayPal or credit card.

SELL PRICES

Money Metals Exchange’s prices are above average and they offer a slightly higher price for buyback compared to its competitors. An example is on the same date, the company was paying $1,776.70 for an uncirculated American eagle which is more than $1,752.21 offered by JM Bullion and $1,750.75 on offer from Golden Eagle Coin.

Frequently asked questions(FAQs):

Do Gold Bars Lose Value?

It depends. If you buy small gold bars, the buying price would be 2% up to 4% above the gold content’s value though when you sell them back you will lose about as much.

Is Money Metals Exchange Safe?

Yes. It is a Better Business Bureau (BBB) certified organization and holds an A+ ranking based on the internal requirements of the BBB, which requires years of responsiveness to business and consumer concerns.

Does Money Metals Exchange Accept Returns?

Yes, they do. Returns initiated within three days of delivery are approved by the Money Metals Exchange. You can reach out to their customer service to facilitate an exchange or return.

You will be required to pay the shipping costs and return the product with the original packaging. Besides the shipping charges, they will hold you accountable for any market loss.

This means that if the price of the product you bought lowers in the market during the return process, you will be refunded the cheaper value.

How Does Money Metals Exchange Keep My Money Safe?

Every Money Metals Exchange order is fully insured and has tracking info. The site uses DigiCert certified SSL-encryption to secure confidential data throughout the process of checkout.

Does Money Metals Exchange Disclose Customer Information To The Government?

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

Furthermore, they handle with discretion and anonymity specific transaction information that discloses or identifies a particular purchase or sale of metals made through it.

However, the corporation reports federal violations to the authorities once they are aware of it.

How Can I Store My Physical Gold And Silver?

Once you have purchased physical metal, Money metal recommends two ways, You can either store it in a secure safe in your home(ensure it is easily accessible in an emergency) or in a fully insured and secure depository of precious metals, like the one Money Metals Exchange offers.

What Is The Minimum Amount Of Gold You Can Buy?

The smallest sized bars (.032 troy oz.) that an investor can buy are one gram gold bars. There are minimum order volumes for most reliable exchanges that can vary from 10 to 20 ounces.

Minimum purchases of gold from an exchange differ from company to company.

What Types Of Cryptocurrency Does Money Metals Exchange Accept?

You can pay for your order with the following cryptocurrencies; Dash, Ethereum, EOS token, EOS token, Ripple, Bitcoin cash, Bitcoin, Bitpay and Litecoin

Money metals exchange reviews: What people have to say

Money Metals reviews are very positive and they have received an A+ rating on the Better business bureau. The company has received a 4.7 rating out of 5 stars based on 78 customer reviews.

This is what some of its customers have to say:

I have purchased many coins both gold and silver from MMX and ALWAYS had a GOOD experience buying from them. They’re straight forward people and until they do me wrong I will continue to buy from them. GO MMX you’re doing it right.

-Bobby M

I have been in the business of buying and selling silver for over 10 years. I never bought from Money Metals Exchange, but a fellow stacker recommended them and they exceeded expectations! They had the best price on the item I was looking for. I placed a large order and paid the same day with a wire transfer. They immediately acknowledged payment and the order was showing actual movement in tracking 2 days later. Less than a week later and I got the order today! Perfect packaging, perfect product, and perfect service! It doesn’t get any better than this.

-Stephen Miller

I just ordered with them. I called and e-mailed them about a very tiny order, to the point of being annoying. Yet, they responded immediately and with total professionalism. As someone who was skeptical, I can tell you they are legitimate – highly recommended.

-K Peterson

Pros of Money Metals Exchange

Large selection of precious metals- Money metals offers an extensive inventory with a large collection of precious metals to choose from.
Live pricing- The company offers real time price updates that are usually close to spot prices
Offers a variety of services- Money Metals doesn’t just sell precious metals, They also buy them, offer security storage options, has an IRA program and provides unique portfolios for its customers,
News and resources- Money Metals offers access to historical precious metal prices and allows you to customize price alerts in their website.
Offer a monthly gold or silver savings plan- The company has the option of a monthly investment option for better dollar-cost-averaging purchases
Insured shipments- The Money Metals Exchange’s Lloyds of London insurance policy completely insures all shipments depository accounts.
Positive BBB reviews- The company has received an A+ rating from the Better Business bureau

Cons of Money Metals Exchange

Transaction fees- You will incur a 4% fee when using PayPal or your credit card to make purchases.
Limited customer support- The customer service is only available during weekdays. There have also been a few complaints about their customer support.
Payment method restrictions- Depending on your payment method, there is a limit0 on the maximum and minimum you can pay.

Conclusion: Final Verdict on Money Metals Exchange

If you are looking for a precious metals company to invest in, then I would recommend Money metals.

It is more than just a platform to deal with precious metals; it’s also a safe avenue for loans, secure metal storage and a helpful resource for pricing and laws around precious metal purchases. To add to that, the company helps you develop a portfolio for your self- directed IRA.

Joining Money metal will definitely do wonders for your financial future.

Before you leave

If you’re tired of scams and want a real solution for making money online check out my no.1 recommendation.

It’s helped me earn over $300,000 in the last 12 months alone:

Go here to see my no.1 recommendation for making money online

(This is a 100% free training)

David Fortune

David Fortune has been the editor NoBSIMReviews.com since 2019. He is an expert at writing content on stock advisory services, side hustles, reviewing online business opportunities and many more topics. You can learn more about David on our about us page.

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