Monetary Gold Review

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Monetary Gold is a well-established precious metals dealer in the US. Since the year 2000, they have been connecting clients to a variety of metals. Their business plan is based on direct relationships with dealers. Since they don't buy from a broker, they're able to lower their overhead and sell to people at a lower price.

The company has largely positive reviews online, and there have been very few complaints against them. But are they everything they seem to be? We've taken a look at what they have to offer, along with what you should know before deciding to invest.

  • Product Type: Precious Metals
  • Owner: Unknown
  • Rating: 4.0/5

Important: Before we move on with this review...

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About Monetary Gold

Monetary Gold Review

Monetary Gold is a precious metals investment company staffed by experts in the financial field. They have been operating in the US since 2000. Despite a heavily competitive field, they have stayed in business by remaining true to their mission: connecting investors to precious metals at low prices.

The company works on the philosophy that every individual should own some gold. Gold is an important hedge against inflation, and it tends to gain value during difficult economic times. You can use your precious metals as a cushion to protect you if the other parts of your portfolio are performing poorly.

Most precious metals dealers buy in bulk from brokerages. Then they mark the prices up to cover their overhead. Since the metals exchange hands so many times, they are often sold at much higher than their market value. That goes especially for companies that charge unexpected commission fees.

Monetary Gold works directly with mints and other precious metals refiners. As there's no broker, they are able to cut down the prices while still managing their general overhead.

You have the option to make a cash purchase for your personal portfolio, or to roll over your retirement funds. If you get the paperwork set up, you can purchase IRS-approved precious metals to be held in your retirement account. When you're ready to take dividends, you can liquidate them for cash.

The company helps with streamlining the IRA setup process. They even have an online application that you can fill out, which is more convenient than the phone setup process that many competitors have.

There is an ongoing focus on overall client satisfaction. The company is accredited with the Better Business Bureau and has an A+ rating. There are also very few complaints lodged against them, and the one complaint in the past three years has been resolved.

Offers are open both to experienced investors and to first-time investors with a lot of questions. There are representatives on hand who can answer your questions and advise you on the best investments for your goals. The positive customer reviews seem to indicate that the company is committed to its service values.

Services and Offerings

Monetary Gold Review

The company doesn't just sell precious metals. They also have a variety of services available to help people who want to learn more. Many of these services are available for free, and the sales representatives don't pressure or confuse people into buying.

The company's goal isn't to trick people into giving up their hard-earned wealth. Instead, they are structured around helping clients invest. They want their clients to see both the short-term and long-term growth that they want for their particular life goals.

When you call the company, you can talk to a specialist with no obligation. They will answer questions about the investment process, risks, and the benefits and drawbacks of different items.

In addition to having been in business for more than 20 years, the experts at Monetary Gold have over half a century of total experience in the industry. They believe in the power of precious metals, and they try to help clients protect their wealth against turbulent economic times.

A large selection of government-minted bullion is available in silver, platinum, and gold. You can also invest in foreign currency and numismatic coins. Collectible coins are a bigger risk, and they aren't eligible to be held in a precious metals IRA.

The company offers free workshops. If you sign up, you'll go through a crash course about precious metals, learn about investing, and get a chance for a consultation with one of the company's advisors.

For new clients, there's an offer of free shipping, no matter how large your order. Older clients might be eligible for free shipping depending on the size of their purchase.

Available Products

Monetary Gold Review

What does it mean that Monetary Gold purchases precious metals directly from the manufacturer? What kinds of items do they have available?

Their stock will vary depending on how recently certain items were minted. You'll need to talk to a representative to find out whether specific items are currently in their inventory. This can be a little frustrating, especially since there aren't prices published online.

Some of the bullion and coins are available to place in a precious metals IRA. Not all of them are, though. If you're setting up an IRA, your specialist will be able to advise you about which items can actually be placed in your account.

With the company's semi-numismatic collectible coins, there are these criteria:

  • The coins are a mixture of bullion and numismatic rarities.
  • Their price is a mixture between the base cost of the bullion and the average market price based on coin grading.
  • These are not fully collectible items, and they are recommended for people who want to get involved in the bull market for precious metals.
  • Because these coins aren't minted, they are scarce and resist deflation.

The bullion includes government minted coins and bars. The company prices it based on the open market trading factors, but always keeps it close to the spot price.

The certified graded coins are ideal for collectors, as they are rare coins that are valued above the spot price of their market.

Precious Metals IRAs

Monetary Gold Review

Monetary Gold has precious metals IRA services available for those who want to roll over their funds into a new retirement account. They help take you through the process of setting up and funding your account, then use those funds to purchase IRS-approved precious metals.

Because the company doesn't work with middlemen, it is often one of the most inexpensive places to purchase precious metals for an IRA.

It should be noted that there is one major potential drawback to this. In order to invest in a precious metals IRA, you need to get certain proof coins that are approved by the IRS. They must meet certain purity standards as well.

Since Monetary Gold only deals with the US Mint itself, it is limited in the number of proof coins that it can acquire. The mint purposefully limits the number of coins manufactured each year to keep their market value stable.

If there aren't any proof coins available, you may still be able to invest in pure IRS-approved bullion. But the coins tend to perform better than bullion over time. The company highly encourages calling and asking a representative if they have any IRA-approved coins available for purchase.

Setting Up Your Account

Monetary Gold Review

There are three basic steps to creating your account. The first can be completed online without any hassle; you'll fill out the IRA application found on the company website and send it in. Unlike many other gold IRA companies, Monetary Gold doesn't have any setup charges for creating your IRA.

After you have completed and sent in the application, it will process in 72 hours or less. A precious metals specialist will be able to guide you through any parts of the form that are confusing.

The next step is to fund the IRA either by making a contribution from your savings or by rolling over funds from an existing retirement account.

The third step is to purchase the precious metals. Now that there is money in the account, your IRA specialist will call you to set up your purchase order. You'll finalize this over the phone. The order will be shipped to the depository of your choice, where your custodian of choice will receive it.

From there, your custodian is the one who will maintain the account and give you information about your holdings. You'll also have access to an online account with all of this information.

Storage and Delivery Options

Monetary Gold Review

First-time customers are given free shipping on their first purchases. After that, you can expect to abide by the company's shipping policy.

If you're making a cash purchase for your personal use, you can have your precious metals delivered directly to your door. Or they can be sent to your bank or storage facility of choice. You'll be able to choose whether to use UPS, FedEx, or USPS.

No matter which shipment company you choose, the package's contents will be completely insured. There is a $30 flat fee for the shipping, no matter how heavy or light the package is.

Another option is to store your metals with the Delaware Depository, which is partnered with Monetary Gold. The Delaware Depository is approved and licensed to maintain precious metals IRAs as well, which makes it the only available storage option if you're funding a retirement account.

According to Monetary Gold, there are relatively minimal fees for the storage. These are as follows:

  • $100 annually until you reach $100,000 worth of gold
  • $1 additionally for every extra $1,000 after that

This is technically a percentage-based system instead of a flat one, at least once you get past $100,000. But the percentage of your holdings is much lower than with a lot of the competition. Still, some people prefer storage options with flat fees, since these don't punish you for gaining more wealth.

Delaware Depository

Monetary Gold Review

Based in Wilmington, Delaware, the Delaware Depository company is among the largest depositories for precious metals in the world. It is compliant with all IRS security regulations regarding IRAs. Every account is fully insured by Lloyds of London, an international insurance company that has an excellent track record.

The facility itself is outfitted with high security vaults that have impressive alarm systems. Independent individuals monitor the goings-on at the vault constantly, 24 hours a day, every day of the year. Every bit of activity on the grounds is recorded.

Delaware Depository offers a variety of storage options for their clients. They also have robust accounting services. When the time comes to liquidate your holdings, they will ship the precious metals to whatever global address you want.

Delaware is also a solid state in which to hold your items because of the state's tax advantages. You won't need to pay taxes on your inventory, personal property, purchases, or even the fees you pay for ongoing maintenance. (New York, by contrast, does have taxable storage fees.)

One potential drawback is that Monetary Gold doesn't have partnerships with more depository companies. There are other precious metals IRA firms that have the opportunity to store metals in multiple depositories across many regions of the US. Some even have international storage options.

Is Monetary Gold a Scam?

Monetary Gold Review

Monetary Gold is not a scam. Though the company is not particularly forthcoming about its ownership, it is a legitimate business with a legitimate headquarters. There are also employees who can be contacted through the BBB website.

Interestingly, the company's website appears to have had a staff page at one point. That page has since been deleted, obfuscating the identities of the upper management. It's unclear whether the deletion was due to a change in management or due to some other aspect of website maintenance.

Reviews for the company are largely positive. Customers praise the helpfulness of the representatives. Only one complaint has been filed with the BBB in the past three years, and there have been no complaints filed in the past twelve months. That's an extremely impressive track record.

With all of that said, the next question is whether this company is a good place to invest your money. Customers do seem to be happy with their results. But there are other well-established companies that have more streamlined services and a wider selection of precious metals.

Ultimately, it's up to you on whether you choose to invest here or not. There aren't any major red flags that make us hesitate. The company just isn't quite innovative enough to edge out some of its competitors.

Pros & Cons of Monetary Gold

Pros

  • Solid customer reviews with few complaints.
  • Purchases directly from the mints, allowing them to sell for lower prices.
  • Has some IRA services available for those seeking a precious metals IRA.
  • Free shipping available with your purchase.

Cons

  • No pricing information available through the website.
  • Not quite as streamlined as some other precious metals investment companies.

Final Thoughts

There's a lot to like about Monetary Gold. The company has more than two decades of experience in the precious metals industry, and their customer feedback is generally good. They offer a range of metals and purchase directly from the mints, which allows them to sell at lower prices.

The lack of a middleman is unique, and it has a positive impact on their pricing. But they don't list their prices on the website. Because of this, you'll want to make sure that you research the items you want to buy before you call for a price quote. That will help you make sure you're getting the best value for your dollar.

There are also other precious metals dealers that have more comprehensive IRA services. If you're interested in investing part of your retirement in precious metals, it's best to work with a more specialized setup.

Overall, we believe that there is a better option when it comes to your investment.

The above company is our top recommendation after doing extensive research. Feel free to keep doing your own research, or you can visit Monetary Gold below!

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