Thu. Feb 9th, 2023
money metals exchange

What is a Money Metals Exchange?

Money Metals Exchange is a national bullion dealer that allows customers to sell, buy and acquire investment-grade metals. Customers can make their purchases by cash or payment, including checks, wire transfers, credit/debit cards, cryptocurrencies such as bitcoin, and electronic funds transfers.

The firm also provides an extensive selection of silver and gold bullion available at high prices for fast delivery through Money Metals Depository Accounts. For all rounds, coins, and bars, it provides some of the lowest premiums in the industry it sells.

Money Metals Exchange also works in MoneyMetals.com as an online retail division primarily focused on giving investors direct authorization to physical bullion at the lowest price possible using market-based pricing.

Before we get started with this Money Metal Exchange reviews:

We understand how difficult it is to pick a company you can trust with your hard-earned savings. That’s why we create informative and helpful information to give you as much knowledge as possible about Money Metals to make the right decision.

With savings you earned hard, It takes a lot of work to select a company you can trust. That is why we made informative and helpful information to give you as much information as possible regarding money metal exchange review to decide what’s best.

What does the company sell?

A decent range of precious metals are provided in Money Metals Exchange such as:

  • Gold. Canadian Maples, American Eagles, rounds, fractionals, European Gold Bullion, coins, and bars in various weights
  • Silver. Fractionals, rounds, Coins, bullets, and bars in different weights
  • Platinum. American, Australian, and Canadian coins with bars of different weights
  • Copper. Buffalo Rounds, Peace Rounds, Morgan Heads, and more with 1-ounce copper bars.
  • Palladium. Palladium Maples and Eagles are provided alongside bars in multiple weights.
  • Rhodium. Both 5- and 1-ounce bars are available.

How Does Buying From Money Metals Exchange Work?

At the top of the homepage, in tabs are grouped product parts for Money Metals. By clicking the product and keying in quantity, you have to add your cart. After that, you have the decision to continue shopping or check out.

After you initiate the checkout process, Money Metal Exchange holds the price for about 10 minutes. At the upper right corner of your screen, You can see a timer that informs you when the price expires. To complete the checkout process, Enter your full name, mailing address, and other payment information.

How does selling to Money Metals Exchange work?

Sell silver, gold, palladium, and platinum to the Money Metals just by following the steps mentioned below;

  1. During business hours, call 800-800-1865 to get a buyback price for your order from a company’s  rep.
  2. Confirm the order to lock in the price if you are satisfied with the price you’ve expressed.
  3. Abide by the shipping instructions and open the purchase order in your email.
  4. Deliver your order to the firm.
  5. The firm will release your payment when they get and examines your shipment.

Just before calling out to the Money Metals Exchange, remember that your metals follow the firm’s buyback guidelines:

  • Bars and rounds must be clearly labeled with purity and weight.
  • Bars must be marked with the name or logo of the manufacturer.
  • Metals should be uniform, clean, and have a competitive design
  • Quarters, pre-1965 dimes, and half-dollars should be minted.

Make contact with a rep by phone, live chat, or email in case you are unsure if your metals are eligible for the Money Metal buyback program.

How Do Prices of Money Metals Compare To Competitors?

Sell Prices

Even though the prices of Money Metals Exchange are a little above average, They provide the best offers compared to its competitors when purchasing precious metals from its customers.

The firm reported acquired prices for a one-ounce uncirculated American Gold Eagle coins at $1,776.70 on May 28, 2020, which was marginally higher than the buyback price of JM Bullion of $1,752.21 and the cost of Golden Eagle Coins of $1,750.75.

Buy Prices

When I checked last May 2020,Money Metals sold one-ounce uncirculated random American Gold Eagle year coins for $1,867.70, marginally higher than the promoted Golden Eagle Coins and JM Bullion rates by $4 and 25$, respectively.

When you buy through the company’s credit card and Paypal, A payment fee of 4 percent is charged.

Features

Buying

you can purchase all the metals provided on the exchange, and every transaction is secure, safe, and rapid. The insurance policy Money Metals covers all orders. When you have your account set up, you can begin to shop! To simplify transactions, you can only buy one product at a time to facilitate transactions, Although, in the future, this could change.

You can select your payment type on the checkout page. Money Metals Exchange provides every payment method, including credit/debit card payments, wire transfers, e-transfers, checks, and even cryptocurrency!

Selling

The buyback program of the Money Metals accepts your silver, gold, platinum, and palladium. The rates negotiate rates in person on the phone, so make a call to their customer service number.

You must give your email address when you and your partner reach an agreed price. After that, you will get a purchase order through email. The confirmation email also has shipping instructions, which you must abide by to ship your products to them. After everything has been verified and finalized, you will get your payment.

Loans

Money metals exchange also facilitates you with loans, which customers can borrow against the silver and gold they own. The interest rate is minor, and your advance rate is around 75% against your collateral value. The procedure is rapid from start to end, and the platform will keep your collateral secured in storage and fully insured.

Storage

If you prefer to store your metals with Money Metals, You can feel safe that everything will be secured in a state-of-the-art depository building, is fully insured, and receives fast access to cash loans if needed.

It charges a very modest flat fee of annually $96 on holdings valued at 0-$15,999 In comparison to other exchanges and storage facilities. For amounts beginning at $16,000 up to $2,999,9993, a total percentage will be charged, and customers will have to call for prices for holdings of $3,000,000 and above.

Storing Your Bullion With the company

Money metals exchange offers depository facilities for clients seeking a location outside their homes to store their precious metals. Open an account via phone, and they will directly transfer your order to the depository building with the company.

There are UL class 3 vaults in the building, and the Money Metals exchange’s Lloyds of London insurance policy ensures depository accounts.

Annual storage charges are paid quarterly and depend on the holding’s valuation.

For holding values at over $3 million, Contact the company’s Trade directly.

Pros and Cons 

Pros

  • Privacy: The organization will never expose your information to anyone under any conditions
  • Convenience: The most helpful approach to getting silver and gold is via The company.
  • Pricing is live: prices are kept-up-to-date at Money Metals Exchange
  • Pre-made portfolios: If you are a newcomer investor in the bullion world, the exchange provides pre-packaged multi-gram, gold, and silver portfolios.

Cons

  • Transaction Fees: You will encounter an additional 4% fee when using your credit card for paying purposes. PayPal has an extra cost as well.
  • Support will be limited: The exchange does not provide 24/7 support. During weekdays only, Their staff is on.
  • Limitations on Payment Method: There is a limit on the minimum and maximum you can pay; it depends on your payment method.

Is Money Metals legit?

Yes. In 2010, Money Metals Exchange was founded, and its headquarters is in Eagle, Idaho. It’s an accredited business with the Better Business Bureau (BBB) and receives an A+ rating based on the BBB’s internal criteria that contain years in business and customer complaint responsiveness. In the Consumer Financial Protection Bureau’s database, There are no registered nasty comments about JM Bullion.

How does The company keep my money safe?

All the orders made are fully insured for their total value and come with tracking information. To protect sensitive data during the checkout process, The site utilizes the SSL encryption certified by DigiCert.

Customer Service

There are various reasons you need to reach out to customer service of Money Metals Exchange. You could be aiming to take advantage of their buyback program, want to return an order, or want an update on a charge. Hopefully, The company has an excellent client service team that is always ready to aid with any problems that may arise.

Via the phone, You can contact customer service or email them during business hours. Like many businesses, their business days are Monday to Friday and the timing is 7:00 AM to 5:30 PM MT. But, They are also available on Saturdays from 7:30 AM to 3:30 PM MT.

Contacting through email method may take many business days before they can respond to your question (specifically if there are any shipment problems)

Money Metals Exchange reviews and complaints

There needs to be more customer feedback available about Money Metals Exchange; however, What is known is better. The BBB awards the firm an A rating and receives a 4.7 out of 5-star reputation, based on the feedback of 78 customers. Whereas the organization does not contain a Trustpilot page, it averages 4.7 out of 5 from 56 money metals reviews on Facebook.

Clients appreciate the company’s friendly, professional support reps but worry about frequent shipment delays.

Conclusion

Money Metals Exchange is filled with several precious metals for its clients. Furthermore, for newbies, it has pre-made portfolios. To customers, The organization also offers direct storage options.

It restricts processing payment and cost methods, hindering the checkout process. Client care support is unavailable during weekends.

You can investigate the available investment choices to boost your portfolio of precious metals.