Money Metals Exchange is a secure and private website that sells money metals. The company was established in 2010 and has since seen tremendous growth. In fact, it is now recognized as a top bullion dealer online. It also earned the “Dealer of the Year” recognition from the Bullion Directory, which is an industry ratings group (based on votes from over 20,000 investors and industry insiders).
If you are planning to use the website to invest in money metals, it is important to get yourself familiar with this company. Money metals such as gold or silver are worth a ton of money. Therefore, it only makes sense to know where you are putting your hard earned money on and if it is worth the investment.
In this guide, you will learn more about how the company works, who are the people behind it, and how to use the website.
How was Money Metals Exchange Founded?
Stefan Gleason founded Money Metals Exchange in 2010. A graduate of the University of Florida, Gleason is an experienced investor, business leader, and grassroots activist. He is well known in the industry and has made several national TV appearances including top networks like CNN, CNBC, and Fox News.
Gleason has also shared his expertise in precious metals deals when he wrote for major publications like Washington Times, National Review, and the Wall Street Journal. Aside from being the President of Money Metals Exchange, he is a director of the Sound Money Defense League.
He founded Money Metals Exchange with a vision of transforming it into a major precious metals investment company. Today, he has succeeded in doing so as his company has more than 30,000 customers.
How Does it Work?
There are two ways to use Money Metals Exchange: to buy or sell precious metals. Therefore, this platform is ideal for those who are serious investors, as well as those who are starting and would like to become serious about investing.
One of the things that make this company stand out is that it is easy to use even for beginners. Whether you are buying or selling, it only takes a few simple steps.
If you want to buy, there are numerous product categories with which you can choose from. When you go to the website, you will find those categories at various tabs on the top of the page. Simply click the product you wish to buy and you will be taken to a selection of products to choose from. Choose the products you want to buy so they will be added to your cart.
Once you have chosen all the products you want to buy, go to the checkout page to complete the purchase. At the checkout page, Money Metals will compute the price of the precious metals. This price is locked in for 10 minutes. Therefore, you have 10 minutes to decide whether or not you will buy the precious metals at the price stated.
If you proceed with the purchase, you must provide your full name, shipping address, and payment information at the next step. You will receive a confirmation email as soon as your purchase is finalized.
If you want to sell, it is important to note that Money Metals Exchange will only be accepting gold, silver, palladium, and platinum. If you’re interested to buy these precious metals, call 800-800-1865. Make sure to do this during business hours. A Money Metals Exchange representative will be in touch with you with a buyback price.
If you are happy with the quoted price for the items you wish to sell, you can confirm the order. The order confirmation will also lock in the price that was quoted to you. You will be provided instructions on how to ship your precious metals. Check the purchase order that will be sent to your email.
You can proceed with shipping the precious metals to Money Metal Exchange. As soon as your shipment is received and the items had been inspected, you will receive your payment.
Prior to reaching out to Money Metals Exchange about the precious metals you want to sell, it is a good practice to read the buyback guidelines on the company website. The precious metals must be clearly marked with their weight and purity. The manufacturer’s name must be highly visible, too. All items that are dated before 1965 must be clearly minted for it to be eligible.
If you want to save time and verify before contacting them about the precious metals you want to sell, you may contact a company representative via live chat or email.
What Products Are Sold?
If you’re interested to buy precious metals from Money Metals Exchange, you might be curious to know about the product lineup that they offer. Here are some of the precious metals that you can buy through the website:
- Gold
- Silver
- Copper
- Platinum
- Palladium
- Rhodium
There are several variations for each of these precious metals. You may contact the website directly to learn more about what specific types of precious metals you can get.
Is It Safe?
When dealing with precious metals online, it is a must to take the necessary precaution and evaluate the websites you are dealing with first. There are several reasons why you need to do this: to ensure the authenticity of the precious metals and to avoid wasting your money.
Money Metal Exchange is founded by a trusted name in the industry – Stefan Gleason. He has built up his reputation over the years; in fact, he was once the recipient of the “Dealer of the Year” award in the US (2015). The company is also accredited by the Better Business Bureau (BBB). In fact, the company has earned A+ rating based on the number of years the company has been operational and its ability to respond to customer complaints.
Another certifying body – Consumer Financial Protection Bureau – has also confirmed the
validity of this company. In fact, it has no existing customer complaints.
Given these facts, you can conclude that it is safe to deal with Money Metals Exchange as it is a legitimate company. If you want to be certain about the safety of your investments, you can check out third-party review sites to learn more about what the customers have to say about them. While it is unavoidable for a company to have any negative feedback about them, you must objectively assess the extent of the issues raised and how well the company responded to these complaints.
Another factor to look into when talking about whether a website is a safe option to buy precious metals from is the customer support. With this company, you have a few options available to get in touch with a representative. One option is to call them via phone. Their customer support hotlines are available during business hours (7AM to 5:30PM on weekdays).
You can also reach the customer support via email. Their email address is readily available on the website plus they also have an email form that you can fill out. Finally, there is a live chat tool available on the website. This is also available during business hours. You can speak to a representative via live chat if you have any concerns or queries.
Reviews and Complaints on Money Metals Exchange
Money Metals Exchange does not have a lot of feedback from users online, except for some of those published on third-party review sites. You can also check out reviews on the company via the Better Business Bureau website. If you want to get a pulse on what the users think about their experience, you can check these websites out.
The overall feedback on Money Metals Exchange has been positive, though. As of October 2020, it has received an A rating from BBB. The website also rates the company with a 4.7 out of 5 star rating. This rating is generated out of 78 reviews from customers for the company.
They do not have a Trustpilot page yet. Aside from the ones published on the BBB website, you can also read reviews about the company via their Facebook page.
Benefits and Drawbacks
Money Metals Exchange has been around for about a decade now. However, the company isn’t perfect. There are complaints and negative feedback about their products or service online. Before you choose to buy from or sell to them, it is important to carefully assess the benefits and drawbacks for doing so.
Here are some of the advantages that you can get when you invest with Money Metals Exchange:
The pricing on precious metals are updated in real-time. When you buy, you will be given a preview of the current pricing structure.
They have an extensive storage option available for various metals. This helps to ensure that you can get your orders shipped to you immediately upon placing the order.
There are a variety of premade portfolios available, whether you want to invest in gold, silver, or other precious metals. This makes it a suitable website to use for beginners.
It offers a variety of news and resources so you can stay abreast on latest information in the industry. It is committed to educating users about current precious metal prices and in maintaining transparency with its pricing schemes.
On the other hand, there are certain drawbacks that you need to know about so you can cautiously take the next steps:
There are a lot of fees involved when transacting through the website, whether you use Paypal or credit card.
For those selling through the website, there are restrictions on the minimum and maximum amount you can deal with. This significantly limits your ability to transact through the website.
The customer support team is only available through the weekdays and on business hours, not 24/7 like most similar websites.
Should You Try Money Metals Exchange?
Money Metals Exchange has its fair share of benefits and drawbacks. It is a great option if you are a beginner because you can get premade portfolios to start off your investment. Plus, the process of using the website is user-friendly, even for those who are new to buying or selling precious metals online.
But you have to take into account the complaints that the company has received, such as the inadequate customer service. It is important to have access to a customer service rep whenever you encounter troubles with using the website or if you have issues.
Nonetheless, it is a great choice for those looking to diversify their investment portfolio.
Make sure that you have considered all other options and that it suits your investment appetite.
Frequently Asked Questions
If you want to learn more about Money Metals Exchange to help you decide if this is a good option, here are additional information.
Is Money Metals Exchange Reputable?
Money Metals Exchange is founded by Stefan Gleason, one of the top names in the industry.
Therefore, this company is built on his reputation and name. In terms of the company’s overall reputation, it is recognized as one of the top places to buy precious metals online. Despite the complaints from some of its users, the company is trustworthy and they offer reasonable prices.
Is Money Metals Exchange Legit Reddit?
Based on user reviews, Money Metals Exchange is a legitimate company to deal with when buying or selling precious metals online. In fact, they require user signature for every purchase made through the website.
What is the best website to buy gold?
Money Metals Exchange is ranked as one of the top places to buy gold online. However, you can also do your research and find other websites with great feedback from investors. Other places to buy gold online include JM Bullion, SD Bullion, Bullion Vault, and GoldSilver.
What is the best way to buy precious metals?
If you are new to investing in precious metals, the best way to go is to buy ingots and bullion bars. While gold is arguably the most popular metal for investors, silver is another excellent option. Palladium, on the other hand, is increasing in popularity thanks to its growing industrial use.