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PM Capital is a precious metals company that offers a variety of services. In addition to physical gold and silver investment, they have some digital gold products. But what exactly do their programs entail? And are they a legitimate business? Here's what you need to know.
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PMC Gold is the company's digital gold program. It allows you to purchase and spend gold using your phone. The process of investing is relatively simple.
First, you purchase gold. You can pick from funding sources including your bank account, credit card, or an existing balance in your PMC Gold account. The money will then be converted into gold, which is held for you in trust.
Once you own the gold, the value is transferred to your eWallet. This allows you to pay for goods and services using the precious metals.
With most other precious metals accounts, you have to liquidate your holdings before you can spend any money. This eliminates that step, so it's good for people who want to use gold as currency.
If you want to hold onto your gold physically, you can also have it shipped out of the depository. You are the sole owner of the metals. Rather than investing in a "percentage" of gold holdings like with an ETF, you can manage the account for your real assets online.
PM Capital isn't the only company to offer this kind of service. But it is unique to let customers convert their gold into instant currency using an eWallet. Though some other companies do offer that, it's a rarer option. This might appeal to people who enjoy paying with alternative assets like cryptocurrency.
The company sells a variety of different gold and silver products. They do not appear to have any precious metals IRA services, nor do they have a category on their website for browsing IRA-approved metals. That means that if you're shopping for precious metals to put into a retirement account, you'll be better off working with a company that specializes in IRAs.
One potential drawback is that the company doesn't list prices on its website. Instead, you have to call over the phone to get a quote. That makes it more difficult to compare the offer to the spot price to make sure you're getting a good deal.
Almost all of the gold products available on the website are coins from a variety of different mints. However, there are 1 ounce and 10 ounce bars available for purchase. Both of the bars appear to come from Credit Suisse, which is one of the most respected manufacturers of gold bullion.
The coins range from IRA-approved metals to proof sets to numismatic collectibles. The website doesn't differentiate between any of these categories, nor does it let you sort by certain categories.
For example, they have American Eagle and Canadian Maple Leaf coins, which are both used in IRAs. But they also have coins like a pre-1950 Swiss 20 franc. It's also possible that their website inventory will change depending on what items they have on hand on any given day.
All in all, it's not the most user-friendly setup if you're trying to find specific types of gold. But if you just want to browse listings to see what's available, that is fairly easy to do.
There are a few more silver bars available than gold ones. In addition to the 1 ounce and 10 ounce sizes, you can also purchase a 100 ounce bar or a 100 gram bar. In addition, you have the option of buying silver rounds.
The rest of the silver products appear to be varying coins. Some of the options on the website include:
The company does appear to have a larger selection of collectible silver coins put out by the Royal Mint in London than many other American companies.
Is PM Capital a Scam?
PM Capital does not appear to be a scam. It is a legitimate business with a headquarters in Utah, transparent information about the owner and CEO, and employee reviews on Glassdoor. They have an A+ rating with the Better Business Bureau, but they aren't accredited. It's also very difficult to find reviews from past customers online.
That isn't necessarily unheard of for small businesses. Oftentimes smaller businesses will have a small, specific clientele that they work with. But if you're looking for a company to work with online, you typically want one that has a great deal of verifiable positive customer feedback.
The Glassdoor employee reviews are also mixed, though none of them offer a lot of detail. One says that people can learn quite a bit working there, but that the business is too small for career growth. Another one cited the lack of growth as a reason for leaving, but said they had decent pay and flexible hours.
One person left a glowing review of their experience, saying that the company gave them a good work environment. There was good training and management. But they also said that the work could become tiring.
One concern with these reviews is that it seems like hardly anybody approves of the CEO. But without specific information about their thoughts on the CEO, it's hard to say why this is.
Pros & Cons of PM Capital
PM Capital is a small business operating out of Utah. It does appear to provide all of the services it claims to. There's no online evidence that people have been scammed or filed complaints against the company. But very few people seem to have left positive reviews of their experiences, either.
The company has a variety of services including selling physical gold, physical silver, and digital gold programs. Though they may seem technologically innovative, they might not be the best choice if you want to make serious precious metals investments for your future.
When you choose a precious metals company, you want one that has positive reviews from past customers. You also want one where the employees don't work on commission. It's difficult to say whether employees at PM Capital work on commission, because there's so little customer feedback online.
All in all, there are other companies that we recommend more highly. But there's nothing stopping you from investing in PM Capital if you're very drawn to their programs.
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 PM Capital below!