Planning to open a gold IRA account to secure the value of your hard-earned income but not sure which investment company will be your ideal partner? With many options in the gold IRA investment industry, finding the best investment partner is difficult. Initially, when I started my investment journey in gold IRAs, I was also uncertain which company I could truly trust to help secure my financial future.
Two decades later, I have invested with multiple precious metals investment companies – including the Money Metals Exchange, a trusted precious metals dealer. Considering my vast experience, I'm here to help you decide whether Money Metals Exchange is your ideal gold IRA investment partner through this detailed review.
So, read on to discover all I have explored through my thorough research and investment experience with Money Metals Exchange.
Money Metals Exchange: A Brief Overview
Money Metals Exchange LLC, founded in 2010, is a renowned precious metals dealer assisting in gold IRA investments in the US. This company is reliable among competitors because of its wide range of precious metals, secure storage facility, competitive pricing, and professional support.
Interestingly, what makes this company highly reliable and credible is the experience, active involvement, and accomplishments of Money Metals Exchange's founder and CEO, Stephan Gleason. Gleason founded the company while working as the president of a national newsletter publishing company, which focused on sharing knowledge about protecting liberties, assets, and privacy.
In a nutshell, Gleason was focused on spreading precious metal investment awareness among readers. Following this pursuit, he founded a precious metals dealing company that can offer the best value assets to both small-scale and large-scale investors. Today, Gleason is known to be an experienced business executive, political strategist, and investor who has been on Fox News, Fox Business, CNN, and CNBC.
His publications and work have also appeared in Newsweek, Wall Street Journal, TheStreet, Mining.com, and hundreds of other newspapers. These accomplishments make Gleason a man of knowledge and make Money Metals Exchange a reliable investment partner. Why do I think so? You'll find out more in this article!
The Best Gold IRA Companies in 2024
Before I get started with this review, I want to inform you that I have reviewed dozens of precious metal IRA companies over two decades, and I have curated a list of the top 6 gold IRA companies in 2024. I highly recommend reading this article before proceeding with an IRA transfer.
The #1 Best Gold IRA is Goldco, with its A+ rating from Better Business Bureau, thousands of 5-star reviews, and one of the highest buy-back guarantees. Read my review on Goldco, or visit the official Goldco website to learn more.
What Makes Money Metals Exchange Stand Out?
Having invested with multiple precious metals investment companies over the years, I found Money Metals Exchange among the few that stand out for their splendid offerings. This specifically includes the following:
Precious Metals Categories
Before investing with Money Metals Exchange, I reviewed their customer reviews on trusted sites like BBB. While going through most of the reviews there, I found that the company offers a wide varity of assets to choose from. This piqued my interest, pushing me to explore their offerings myself.
That is when I came across a wide list of precious metals investment options on their website. This includes the following:
While the categories mentioned above of precious metals assets may seem all that Money Metals Exchange offers, it's not!
According to the company itself, this section features all the overstocked precious metals in their inventory at discounted rates. This selection of special deals is updated regularly, with new assets listed at discounted rates.
When navigating Money Metals Exchange's website, I found a News/Resources section. This section features various categories, exposing investors to endless insights into the precious metals industry, from news to price charts, basic investment guides, and more. This easy-to-access information is great for beginner and experienced precious metals investors to explore the latest updates in the industry.
Money Metals Depository
Next up, I explored my options for investing in a gold IRA account with Money Metals Exchange. During this, I came across their depository service. Unlike other companies that suggest third-party depositories, Money Metals Exchange allows investors to store their assets at the Money Metals Depository.
Choosing a depository is typically a huge challenge, especially when users are unsure about the depository's security measures. After all, your chosen company will hold your gold IRA investments for the next few years. It has to be reliable enough, right? Gladly, Money Metals Depository emphasizes using the best security approaches to protect their customer's assets.
What are these approaches? Namely, this state-of-the-art storage facility in Idaho uses segregated storage to keep every customer's assets separately, preventing any mixup.
Moreover, the company's depository building is constructed with thick steel and hardened concrete, making it impossible for anyone to break in. Not to mention their top-of-the-line UL Class 3 vaults holding precious metals. If all this isn't enough, the Money Metals Depository also insures all the assets they store by Lloyd's of London.
All these security measures and insurance coverage made it easier for me to trust Money Metals with the storage of my gold IRA investments.
Sell Your Precious Metals to Money Metals Exchange
When I was a first-time precious metals investor, I found it incredibly difficult to figure out how to sell my metals quickly when I needed to liquidate them. It was incredibly hard to find buyers that offered the best rates for buying precious metals. Hence, whenever I invest with a company, I make sure to ask if they offer buying services.
Likewise, when I looked into Money Metals Exchange’s website for the same service, I found a ‘Sell To Us’ option. Surprisingly, the company’s buying rates were highly competitive compared to most other companies offering the same service. Because of this, I proceeded with the sale, which was an extremely easy process.
Here’s how the process went:
How To Invest with Money Metals Exchange?
Besides the quick and simple selling process, investing in a gold or precious metals IRA is also quite simple with Money Metals Exchange. For me, what added more ease to this process was the guidance of their professional team.
To be precise, when I contacted them to learn about my gold IRA investment options at the company, the representative was quite helpful in providing in-depth information about what I can and cannot add to my gold IRA account.
Moreover, the representative briefly explained the entire gold IRA investment process with the company over the call. During those few moments, I found their representative highly knowledgeable and professional, making it easier to trust the company with my investments. Hence, I proceeded further with their 3-step investment process to add to my gold IRA.
Step 1: Establish and Fund a Self-Directed IRA
While Money Metals Exchange suggests opening a self-directed IRA account with NDIRA, the company can partner with any other self-directed IRA custodian. Since I already had a gold IRA account with a different custodian, I decided to proceed with them while choosing Money Metals Exchange as my precious metals dealer.
Step 2: Fund the Account
This process is also managed by the custodian handling our precious metals IRA account. Hence, I contacted my custodian to add funds to my account to proceed with my investment. While I chose to fund my account through cash transfer, you can also transfer funds through checks or a rollover from an existing IRA or 401k account.
Step 3: Make the Purchase
After funding my account, I notified my gold IRA custodian about selecting Money Metals Exchange as my precious metals dealer. Afterward, I chose from the endless assets listed on their website and proceeded with my purchase.
Once the transaction concluded, Money Metals Exchange efficiently facilitated the transfer of my acquired assets to their secure depository facility. The added benefit of this process was the ease of online tracking for each of my precious metal holdings.
Money Metals Exchange Fee
While Money Metals Exchange does offer competitive precious metals prices, their high transaction fee came as an unpleasant surprise to me.
It was when I explored the payment options supported by the company that I found out about their additional 4% fee on payments made through PayPal. They also charge a 2% additional fee on cryptocurrency payments. The only payment options they support with no transaction fee are Wire, Paper Check, or E-Check.
Besides that, the Money Metals Depository also charges a yearly storage fee of:
Money Metals Exchange Rating on Consumer Review Sites
Consumer Protection Agency
Number of Reviews
Complaints in Past 12 Months
Better Business Bureau (BBB)
15 complaints closed
55 reviews that are below 4-star
Pros and Cons
From secure storage service to competitive pricing, a wide asset selection, special deals, quick buyback service, and a highly professional customer support team, Money Metals Exchange stands out in more ways than one. At the same time, the company also lacks in some ways, including limited contact options and additional transaction fees on specific payment options.
With these positive and negative factors linked with choosing Money Metals Exchange as an investment partner, I suggest you carefully consider your investment goals and requirements. This will help you better determine whether Money Metals Exchange meets your requirements.
While some investors prefer investing in gold coins due to their design, popularity, and unique history, others opt for gold bars, considering they have more value to offer. Hence, deciding by considering your specific investment preferences is always better.
Yes, Money Metals Exchange is a trustworthy company with many positive reviews online and an A+ rating on consumer review sites like Better Business Bureau.