Since the current fall of cryptocurrencies, investing in gold has become once again the most reliable way of securing your assets against inflation. Luckily, there are hundreds of ways of doing this, and you can choose the one that suits your investment needs better.
We know how challenging it is to choose a business you can trust with your hard-earned funds, especially when there are so many gold brokerage platforms. In order to provide you with as much information as possible so that you can make the best decision, we created the following Money Metals Exchange review, which is meant to go through all the platform’s basic features and explain how it can help you grow your precious metal investment.
Advisory! Prior to diving into this review, we’d like to stress that at Investors Circle, our mission is to protect your wealth. We know that our research reports may alter your investment decisions, so we want to be 100% sure you are investing your hard earned money with the right company!
With this in mind, we urge you to check out our list of the top five companies in this space (we found 1 that fits 99% of investors needs)
See if Money Metals Exchange made our list this year, or continue with this review below to see if they are possibly the right company for your investment needs.
Money Metals Exchange is a nationwide gold brokerage platform that allows consumers to purchase, sell, and possess metals that are pure enough for their investment portfolios.
In order to make gold purchases, you can use various payment methods, such as cash, cheques, wire transfers, credit/debit cards, electronic money transfers, and several crypto assets, such as BTC, ETH, and USDT.
Through Money Metals Depository Accounts, the organization provides a large assortment of precious metals bullion at incredibly affordable prices for fast delivery.
Considering the wide variety of precious metals you can find on Money Metals Exchange, it offers some of the lowest premiums you’ll find in similar businesses.
Money Metals Exchange runs its own online platform that gives investors direct access to actual bullion at the most affordable price, utilizing market-based pricing and trading physical goods for clients across the United States.
What Precious Metals Can You Buy with Money Metals Exchange?
You will find one of the largest collections of precious metals in the market in Money Metals Exchange. This fantastic benefit will allow you to diversify your portfolio in several precious metals and coin types so that your investment is secure no matter what. Some of the most popular ones are the following:
How Do You Buy from Money Metals Exchange?
Purchasing metals via Money Metals Exchange is simple, safe, and quick when done online. All items available for purchase at any moment are listed in the menu under the purchase category.
You must select your preferred metal option from the wide variety you’ll find on the website and add it to your cart.
The platform only allows you to buy one item per purchase for simplicity’s sake. If you want more than one, please repeat this process as often as necessary.
You don’t even need to open an account on this website to buy precious metals. However, it might be smart for clients who prefer to keep a record of their purchases and enjoy many other benefits. Some of these benefits are exclusive discounts and special offers.
The next step is to check out. In order to do this, you will click the button in the corner of the screen once you have added everything you want to your basket. Please remember to double-check and edit your purchase before doing this step.
Then, once you create an account, you must provide all your personal data, including your payment method and shipping direction. This will ensure you are a real person, and your gold will be stored safely in a registered depository.
You can also select the option to keep it saved with your user name when you view your cart in the corner of the screen. This will allow you to save this purchase order as a preset for simpler reorders in the future.
The entire procedure lasts roughly 10 minutes. Depending on where you are in relation to the depository, it should be delivered within one to five days after placing your order. Then, make sure to keep your European gold bullion in one of the direct storage options of the platform.
How to Sell in Money Metals Exchange
Many people worry about not being able to re-sell their gold earnings once they have them. However, on this platform, this process is as effortless as possible. All you have to do is follow a series of steps listed below to sell all sorts of precious metals to Money Metals Exchange:
First, you will need to contact one of its precious metal brokers by calling the number on its platform or emailing its customer service team during regular business hours. Once you issue your concern, you’ll receive a repurchase price from a representative.
Then, you must confirm your order by accepting the pricing once you are pleased with the Money Metals buying price.
Money Metals Exchange will email you all the necessary details to execute the transactions. Please pay attention to the shipping guidelines, as this is crucial to make sure the gold is properly handled.
Now you can submit the order to Money Metals’ platform. It will use the most recent pricing to weigh your shipment and validate it using a scale from a third-party company.
The final bidding price commonly determines how much you’ll get for your gold. Settlement timeframes typically take two to five days. Still, they might change depending on the market’s movements and rates at the moment of the sale.
Always check that your precious metals meet the Money Metals Exchange’s repurchase requirements before calling. If they don’t meet these regulations, you won’t be able to re-sell your precious metals, and you may ruin your investment strategy.
How Competitive Are Money Metals Exchange’s Prices?
When compared to similar competitors, Money Metals Exchange is a little more expensive. However, for sellers, it provides fantastic buyback pricing.
After reviewing Money Metals’ prices in regard to several well-known coins and bullion, we discovered that the business had priced one ounce of gold coins at a relatively higher price than two of its most important competitors, such as JM bullion.
Nonetheless, according to the Better Business Bureau, the difference was low enough not to make that huge of a difference when looking at the bigger picture.
Despite having higher buyback prices than the competitors, Money Metals Exchange still offers average prices. Therefore, it may benefit you if you want to make the best of your investments.
Is Money Metals Exchange Safe?
Money Metals Exchange is dedicated to protecting the private data of its clients. Therefore, it will never share anything regarding your account or movements with anybody but you. Moreover, it doesn’t share or sell its client lists with other businesses.
Using SSL technology, your personal data is encrypted on the MME website. This protects all your private information against hackers and cyber thieves who may want to steal your assets. Therefore, you can feel safe when providing this data when registering, as Money Metals will take care of everything for you.
The business is also part of the Better Business Bureau, whose mission is to ensure the security and simplicity of your transactions. Moreover, Money Metals is correctly regulated by all the authorities, and you can check several websites to confirm its veracity.
When using Money Metals Exchange, all transactions will be executed by qualified experts in compliance with local, state, and federal laws. Therefore, you won’t have to worry about legal issues alone, as you will always have a team taking care of everything.
Money Metals Exchange Pros and Cons
Researching the pros and cons of the platforms we intend to use is a crucial step to determining whether they suit our needs. Therefore, after several testing rounds and researching other testimonies, we settled on the following pros and cons that will give you a general overview of Money Metals Exchange.
This business takes the privacy of its clients seriously. That is why Money Metals Exchange offers extreme safety measures to verify its users. It also won’t sell its customers’ data to third-party businesses that may want to steal it.
Money Metals Exchange is also fairly simple, making it one of the most practical platforms for buying gold bars. Many users praise its convenience, as you can execute purchases faster than on other platforms, such as JM Bullion.
All the prices on Money Metal Exchange’s platform are updated in real-time. You won’t have to worry about sudden extra charges once you’re executing a purchase.
Finally, many new investors love this platform because its silver coins brokers create portfolios for them. You can buy pre-assembled portfolios filled with all sorts of precious metals, such as gold, silver, and platinum. They also come in several presentations, such as coins and bullion.
This platform’s main drawback is its transaction fees, which can go up to 4% if you use a credit or debit card. These fees may also go higher if you add PayPal fees and all the transactions you may need to execute to buy your gold.
You won’t have customer support at all times of the day, as you would with other platforms. This is because its representatives only work on weekdays from nine to five. You will need to issue your report, and they’ll get back to you as soon as they’re available.
This platform also has several payment method restrictions. Depending on your chosen method, you will have to buy a certain amount of gold, as the minimum and maximum amounts are capped.
Storage and Fees
The following are some direct storage options that Money Metals Exchange offers when purchasing bullion online. When purchasing precious metals, you need to understand which is the best option for you, which is why knowing these alternatives is crucial.
Delivered Storage Accounts
These accounts consist of safe depositories in the vaults at Money Metals Exchange, where customers can store their precious metal bars and silver coins in a timely manner.
The items feature a unique serial number that lets the brokers keep track of them.
Any stock item at Money Metals Exchange may be purchased by a customer and left in a storage account for a small cost of 0.46% of the item’s value per year.
Sealed Monster Boxes
Sealed Monster Boxes are alternatives for high-security storage and are exclusive to Money Metals Exchange. They are an excellent new method to protect your assets from being stolen or damaged.
Is It Government Monitored?
This reputable company must be provided with a legal search warrant. Money Metals Exchange does not willingly divulge personal information about its clients to government entities, enforcement authorities, or third parties.
Additionally, because all transactions are conducted anonymously, the firm does not divulge or identify any particular purchases or sales of metals on its platform.
Last but not least, the company immediately notifies the authorities of any federal infractions. Therefore, as long as you keep everything within the legal limits, you won’t have issues with this platform.
What Is the Minimum Gold Amount Available for Purchase?
If you are a private investor, you can purchase as little as one gram of gold or copper coins at a time.
Suppose you want to make a large financial investment. In that case, you can purchase as much or as little as you want as long as you remain within the capped limits for your payment method, such as wire transfer or PayPal.
Dealers prefer this purchase method so customers can place many orders at once or for convenience. These orders are divided into smaller portions, commonly called lots.
Customers’ Opinions About Money Metals Exchange
On Yelp, a review website, there are more than 1000 Money Metals clients’ testimonies, which we went through to understand what the general public thinks of the platform. Most consumers appeared to be content with their purchases, as seen by the excellent Yelp ratings they gave Money Metals Exchange.
The customers are pleased with the service agents, describing them as knowledgeable and kind. However, there have been issues with shipment delays and a lack of customer service on the weekends. Some people even had to pay return shipping costs because their order wasn’t correct.
Why Should You Use an IRA?
Individual Retirement Accounts (IRAs) are meant to create a safe fund for you and your loved ones once you retire.
You can save money in these particular tax-sheltered accounts for future usage.
In order to ensure a safe retirement, it’s crucial to invest a sizable amount of stable assets and keep them in these long-term accounts.
It is possible to save fiat currencies in an IRA. Still, these currencies lose value quickly, especially when inflation isn’t properly controlled.
Gold is possibly the perfect asset for putting into an IRA because its price won’t decrease over time and has been proven to grow in value over the years.
The huge financial crisis caused by the COVID-19 pandemic taught us that anything could happen without us even thinking it was possible. This caused investors to defend themselves and their money by putting physical gold in IRAs.
Conclusion Money Metals Exchange
Money Metals Exchange is filled with several precious metals for its clients, such as gold, silver, platinum, and palladium. It also offers portfolios for beginners with enough assets to start growing their investments. Customers can also choose direct storage from the company to ensure their physical gold and other precious metals are properly taken care of.
The checkout procedure is protected by its processing fees and payment options restrictions.
You can look into the various investment options to increase the number of precious metals in your portfolio.
Although Money Metal Exchange is a respectable business and not a fraud, we understand if you want to check out other platforms before committing to one. Hopefully, this Money Metals Exchange review helped you understand how it works. Please feel free to check out the rest of our page to read more reviews like this.