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Money Metals Exchange Reviews

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Ryan Paulson (CFA)

6.3/10 (Expert Score)
Product is rated as #35 in category Precious Metals
Money Metals Exchange is a reputable option for buying and selling precious metals, known for its real-time pricing and diverse product offerings. While there are some reports of shipping delays, the company's customer service is proactive in resolving such issues. The fees associated with credit card payments and additional services are something potential customers should consider when deciding to use their services.
Reputation and Experience
6.5
Fees and Costs
6.6
Customer Service
6.5
Selection of Offered Metals
7.2
Storage and Security
6.3
Buyback Policy
6.8
Educational Resources
6.9
Transparency
6.6
Accreditations and Licensing
5
Ease of Transaction
5
PROS:
  • Real-Time Pricing: Money Metals Exchange updates its precious metal prices in real-time, which ensures that investors can make purchases at the most current rates.
  • Shipping and Insurance: Orders over $199 receive free shipping, and all shipments are fully insured, adding a layer of security for buyers. Items are generally shipped within three business days after payment clearance.
  • Diverse Storage Options: Customers can choose to have their metals shipped to their home, stored at a depository of their choice, or at the company's on-site depository, providing flexibility in how they manage their investments​.
CONS:
  • Fees: Purchases made with credit cards or PayPal are subject to a 4% processing fee. Additionally, there are various service fees, including annual and monthly charges, depending on the services utilized​.
  • Shipping Delays: Some customers have reported delays in shipping and issues with delivery times, though these instances are generally resolved effectively by the company​.

What is Money Metals Exchange?

Money Metals Exchange is a specialized company that deals in the purchase and sale of valuable metals, including gold, silver, platinum, and palladium. This is an internet-based company that specializes in selling valuable metals. They offer a website where people may buy bullion coins, bars, rounds, and other similar items.

The company was established in 2010 and has its main office in Eagle, Idaho, United States. Money Metals Exchange strives to provide competitive prices and an extensive range of precious metals for both investors and collectors.

Customers have the ability to explore and buy many types of valuable metals through the Money Metals Exchange website. The company provides real-time pricing, enabling users to view the current market values for various metals. In addition, they offer educational tools and market analysis to aid consumers in making well-informed decisions regarding their investments in precious metals.

People Behind Money Metals Exchange:

 

Stefan Gleason (President)

Stefan Gleason holds the position of President of Money Metals Exchange. In 2010, he established the company as a response to the exploitative tactics employed by national advertising, who excessively increased the prices of coins well beyond their true melt value.

Gleason advocates for providing precious metals at prices closely aligned with their intrinsic melt value, hence ensuring affordability for the average investor. He possesses experience in newsletter publication and has actively participated in legislative initiatives pertaining to sound money and the precious metals business.

Clint Signer (Co-Manager)

Clint Siegner holds the position of Director and co-manager of Money Metals Exchange. Siegner not only manages the editorial aspect of the organization, but also supervises essential operational tasks, personnel training, compliance issues, and loan underwriting. He thoroughly covers topics related to precious metals markets and the concept of sound money. Siegner possesses a business degree and contributes expertise in sales and management to the organization.

Mike Gleason (Co-Manager)

Mike Gleason serves as a Co-Manager at Money Metals Exchange. The individual oversees the company’s daily operations and directs their attention towards sales, customer service, inventory management, and product pricing. Gleason had a professional history in systems consulting and contributes his extensive knowledge in sales and logistics to the organization. He is the host of Money Metals’ weekly podcast and strongly supports personal liberty, minimal government, and the Austrian School of Economics.

How to Open a Gold IRA with Money Metals Exchange:

To open a precious metals IRA with MME, you’ll need to follow these steps:

  • Choose a custodian first. Money Metals Exchange endorses New Direction Trust Company (NDTC) as a custodian for its Individual Retirement Account (IRA) services. Nevertheless, you have the option to collaborate with any self-directed IRA custodian that permits investments in precious metals.
  • Reach out to your selected custodian and adhere to their guidance in order to establish a self-directed IRA account. To open the account, you must furnish the requisite papers and information.
  • Once you have provided the necessary funds to your Individual Retirement Account (IRA), you have the opportunity to collaborate with Money Metals Exchange in order to carefully choose the particular precious metals in which you wish to make investments. Money Metals Exchange provides an extensive selection of bullion goods made from gold, silver, platinum, and palladium.
  • After selecting the desired precious metals, it is necessary to complete the necessary documentation. By following that method, the transaction will be successfully finalized.

Money Metals Exchange Products:

Money Metals Exchange has a wide selection of platinum, silver, gold, palladium, rhodium, and copper goods in its inventory. Their catalog offers a diverse selection of coins and bars that have been authorized for placement in an IRA.

Examples of these are the Silver American Eagle, Gold Austrian Philharmonic, American Gold Buffalo, Gold Canadian Maple Leaf, Gold American Eagle, Gold Australian Kangaroo, Palladium American Eagle, Platinum Britannia, and Platinum Australian Kangaroo.

Money Metals Exchange Fees:

There isn’t much information available on their website regarding their gold IRA fees. If you’re interested in finding out more about their charges, you’d need to get in touch with one of their representatives directly.

However, be sure to compare the fees with other bullion dealers to ensure you get the best deals possible.

Unique Highlights of Money Metals Exchange:

 

Monthly Payment Program:

Money Metals Exchange has a Monthly Payment Program that enables you to make monthly payments towards buying gold, silver, platinum, or palladium items. The program offers versatile pricing options, with a minimum monthly fee of $100. Payments can be made through automatic bank drafts, checks/money orders, or credit cards (subject to a 4% processing fee).

Loans:

They offer loans that allow clients to borrow money using their owned gold and silver as collateral. The interest rates are currently at a low level, and the value of the collateral usually permits an advance rate of approximately 75%. The procedure is expeditious, and the collateral is properly safeguarded and insured.

Storage Services:

If you opt to store your metals with Money Metals Exchange, they provide a cutting-edge depository facility that is fully insured. If necessary, you also have expedient access to cash loans. The storage fees are determined based on the value of your assets. For holdings valued up to $15,999, there is a fixed price. For sums over this value, the fees are calculated as a percentage of the total amount.

Money Metals Exchange Reviews and Ratings on Other Platforms:

Better Business Bureau (BBB):

MMX has received an A+ rating on the Better Business Bureau website, along with a score of 4.25 out of 5 stars based on 159 customer reviews. There are reviews that contain both positive and negative feedback. They have accumulated 13 years of experience in the field. Over the past 3 years, a grand total of 42 complaints have been resolved. In addition, this firm has received accreditation from the Better Business Bureau (BBB) on their official website.

Business Consumer Alliance (BCA):

MMX does not have any star ratings on BCA. They have a “CC” company rating on the Better Business Bureau website. In the context of corporate ratings on BCA (Business Consumer Alliance), the acronym “CC” stands for “Concern.” BCA is a privately funded, not-for-profit entity that gathers and assesses business data to furnish consumers with valuable knowledge regarding the trustworthiness and effectiveness of companies.

Trustpilot:

Money Metals Exchange has a rating of 2.1 stars out of 5 on the Trustpilot website, as determined by customer reviews. There are a total of 57 customer evaluations on the website, and the majority of them express unfavorable sentiments. Customers have strongly criticized the company’s customer service, delivery method, and competence. Their reputation on the Trustpilot website is unfavorable.

Money Metals Exchange Review: Conclusion

Money Metals Exchange is a promising company with an impressive product catalog. They offer gold, silver and several other precious metals to customers while also facilitating gold IRAs.

Specification: Money Metals Exchange Reviews

Main
BBB Rating

A+

Business Consumer Alliance

CC

Custodian

New Direction Trust Company

Gold Bullion

American Gold Eagle, Canadian Gold Maple Leaf, Gold American Buffalo, Gold Australian Kangaroo, Gold Austrian Philharmonic

Silver Bullion

American Silver Eagles, Australian Silver Kangaroos, Austrian Silver Philharmonics, Canadian Silver Maple Leafs

Storage Fees

Unknown

Trustpilot Rating

Less than 3

Specification
Address

Eagle, Idaho, United States

Leadership

Stefan Gleason

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