UPDATED OCTOBER 2023
Hello and welcome to my "Is Monument Metals A Scam?” article.
Nowadays, gold and silver are becoming the focus of many investment opportunities. Fortunately, this Monument Metals review will assist you in deciding whether or not this business is right for you.
Truthfully, many people prefer to engage in financial activity by investing in gold and silver. Additionally, many people have started opening self-directed IRAs. Thus, it is imperative to gather knowledge about this industry.
However, is being a bullion dealer sufficient? Also, there is the issue of whether they are a scam or not. As a result, our "Is Monument Metals A Scam?" will help you better understand this company.
Without further ado, let us get started.
Monument Metals Review Quick Summary
Name: Monument Metals
Founder: Jonathan Swyers
Prices: Varies
Rating: 3/5
What is Monument Metals?
To start, Monument Metals is a family-owned business from Frederick, Maryland. By 2014, they began selling high-quality collectible and bullion products.
Consequently, their target market are collectors and investors. Moreover, they boast to have fair and transparent prices. In addition, they also claim to provide a superior level of value and service.
That is why, both aspiring investors and those savvy ones will find this company enjoyable.
Before becoming a bullion dealer, they were trading exclusively in the wholesale end of the marketplace. After which, the management created a switch to selling bullions and coins.
Admirably, they have records about buying effectively, operating efficiently and maintaining low overhead. In other words, due to their excellent work ethic, they have an upstanding reputation in the industry.
In comparison, it does lack the diversity of items when put side by side with Goldco. Regardless, Monument Metals are improving their inventory day by day to compete even more fiercely.
Company Founder
Monument Metals' website does not reveal much information about them and their history. I tried looking for any details on its founder and I only found it on LinkedIn.
Jonathan Swyers is the founder and CEO of Monument Metals. Moreover, he worked Asset Strategies International as a Director of International Trading and attended James Madison University.
Products and Services
Surprisingly, Monument Metals caters the very diverse need of the market. Although not offering as much as other companies, the type of items they have are commendable.
To enumerate, they have offerings for gold, silver, platinum, palladium, and copper.
They also offer unique and historical coins such as Pre-1993 ones. As already mentioned, these coins are for those that have collecting as a hobby. In addition, they also have several unique deals such as 24/7 silver raid.
Take a look at the list below for the products they have:
GOLD
- American Gold Eagles
- American Gold Buffalos
- Austrian Gold Philharmonics
- Canadian Gold Maples
- Chinese Gold Pandas
- Perth Mint of Australia Products
- South African Gold Krugerrands
SILVER
- American Silver Eagles
- Australian Silver Coins
- Austrian Silver Philharmonics
- Canadian Silver Maples
- Chinese Silver Pandas
- Silver Bars and Rounds
OTHER
- American Platinum Eagles
- British Platinum Coins
- Canadian Platinum Maples
- Platinum Bars
- Palladium Bars
- Copper Rounds
- Wheat Cents
As you can see, almost all of these items can be used as assets for self-directed IRAs.
That is because they also have an IRA program in which you can buy IRA-eligible precious metals from them. They can help you open a precious metals IRA with their preferred IRA custodians, Equity Trust Company, GoldStar Trust Company and New Direction Trust Company.
If, by reading this article, you want to invest in gold, I suggest reading more about Goldco.
Types and Prices
As stated, Monument Metals offers several choices for bullion items. Nonetheless, it goes without saying that these prices changes from time to time.
Do remember, these items will have different degrees of availability. For example, a certain type will not be available until re-stock. As for the prices, Monument Metals is very transparent because it displays the price tag beside the item.
Furthermore, you will be presented with different characteristics once you click a possible purchase. To illustrate, once you click American Gold, you will be shown these individual products.
- 2022 American Eagles
- Random Year American Eagles
- Different oz. American Eagle
- Proof American
- Certified Gold Eagles
Payment Methods
For payments, you can pay by credit/debit cards, PayPal, bank wire, eCheck, or paper check. Fortunately, you can also avail of the free shipping for orders above $199. For orders below $199, a standard shipping fee of $7.99 will be added.
Luckily, Monument Metals conducts business internationally. Do note, however, that this can be done for orders exceeding $1,000. So, if you are interested in buying from them, make sure that it goes over a thousand bucks!
Set side by side, Goldco, operates in a different manner. True, they still have yet to offer platinum and palladium items, but it is second to none in transparency and competitive pricing.
How to open an account?
To be able to purchase precious metals from the company, you are required to have an account on its website. But don't worry since the process is fairly easy.
You simply need to click register and you will be asked for personal information such as your name and email address. You provide your own password then you are done.
After this, you can start adding precious metals to your cart for purchasing.
Monument Metals Customer Service
To ensure that their clients are well-informed and properly assisted, Monument Metals has provided a FAQs section in its website to address their questions.
Moreover, clients can contact the company through their email address if they have concerns regarding their purchases, accounts, investments, and many more.
Monument Metals Reviews and Ratings
As for their ratings, take a look at these:
- Better Business Bureau – 4.08 out of 5 rating based on 12 reviews, A+ rating, accredited since May 2017
- Trustpilot – 4.7 out of 5 rating based on 1,217 reviews
- Complaints Board - 4 out of 5 rating based on 11 reviews
For their customer ratings, they indeed have thousands, but it only came from three review websites. I also found a Subreddit where people have expressed their experiences with Monument Metals, majority of which, are actually good.
One user expressed that although the product options are a few, their prices are very competitive, and the owner is awesome. Another one shared that the gold company is great and that it is his/her favorite precious metals vendor.
Although accredited, the lack of reviews from other websites and organizations might dissuade you.
Unfortunately, there are no reviews, ratings, and reports available from other companies. Reviews are lacking from Business Consumer Alliance, RipOff Report, and Yelp. In a sense, this gives you an idea on where they stand in terms of web presence.
Anyway, they have very excellent standings from two organizations. In any given day, I would personally purchase from them since they are reputable. Of course, make sure to read reviews about any company before buying from them.
Pros and Cons
Pros
Cons
Final Words
As a summary, this 'Is Monument Metals A Scam?' article arrives at a resounding no, for an answer. It is a reputable company with no reports of scams, fraudulent activities, or rip-offs.
First, their inventory offers precious metals of varying characteristics. Albeit not large enough unlike other competitors, these items are of quality and are IRA-eligible.
To add, they also have this outstanding work ethic. When it comes to shipping and ensuring the safety of your package, they are on the top of the industry.
To name a few, bullion dealers such as JM Bullion, SD Bullion, and Acre Gold do have unique features that might interest you.
To conclude, Monument Metals is a legitimate bullion dealer that solely revolves around selling precious metals. But, there are other alternatives. Companies such as Goldco must be your priority!
As usual, thank you for reading this 'Is Monument Metals A Scam?' article. Any comments or suggestions can be written at the appropriate section below.
