(UPDATED 2023) Hello and welcome to my ‘Is Zaner Precious Metals A Scam?’ article.
Presently, people are using the internet for various reasons. To cite, gold investments are done through online processes and submissions. Additionally, a lot of businesses and firms are offering their services through their own online platforms.
Thus, it is inevitable that a big industry such as precious metals investments are jumping on the trend. As an example, one can open his/her self-directed IRA with a couple of clicks! Truly, the wonders of the Internet never ceases to amaze!
Going back, there are still some risks when doing business transactions on the internet. Regrettably, in the case of precious metals, there a lot of reports regarding scams and rip-offs!
In that sense, this good read will help you ascertain the answer to a certain question: ‘Is Zaner Precious Metals A Scam?’ So, stick with me as I lay down several key points that might help you in one way or another.
Without further ado, let us start this ‘Is Zaner Precious Metals A Scam?’ article.
Zaner Precious Metals Review Quick Summary
Name: Zaner Precious Metals
Founder and CEO: Matthew Zaner
Account minimum: Not specified
Fees: Not specified
Promotions: Discounts on bulk orders, buyback policy
Rating: 3.5/5
What is Zaner Precious Metals?
As a start, Zaner Precious Metals is a Chicago-based bullion dealer. In 2013, this privately-held company came into the industry. As a specialized division of Zaner Group LLC (1995), this company provides full-time service to investors.
Fortunately, this company is a good choice for those of you who are constantly checking the market. Moreover, they provide suggestions regarding any business ventures you may want to partake of.
For example, they are willing to provide help regarding market reports and assessments. Also, they will conduct intel and researches about some favorable investment spots that might interest you.
Admirably, they put most of their manpower and focus towards their precious metals services. As such, investors are given ample support and monitoring regarding their accounts.
For associations and partnerships, Zaner Precious Metals is a member of the coveted National Futures Association. Additionally, it is a registered with the Commodity Futures Trading Commission. And to top it all, it is accredited by Better Business Bureau.
Apart from being a bullion dealer, this company also offers IRA-services. However, they are more focused on trading and economic movements rather than being a custodian. More on this in the coming subsection.
With this, is Zaner Precious Metals the best choice for you? Put side by side, how does it compare to some giants in the industry, like Goldco? To have some insights, let us delve deeper.
Products and Services
Worth mentioning, their online platform neatly categorizes the services they offer. They have a separate section for bullions and coins and for their IRAs.
As the forefront, they have varied offering in terms of coins. On top of that, they offer the four most common metals around: gold, silver, platinum, and palladium. Next, they have collector and antique coins in display.
What’s more, they have a button for IRA-approved products. In this way, investors can easily purchase assets without double-checking the coin’s eligibility. A short list of common and popular products that they have can be seen below.
- American Gold Eagles
- Canadian Gold Maple Leaves
- American Buffalos
- Gold Bars
- American Silver Eagles
- Canadian Silver Maple Leaves
- Metal Coins
- Wearable Bullions
As mentioned, they are not a dedicated self-directed company. Rather, they work with New Direction Trust Company to help their clients with their IRA concerns. For more information, I suggest reading this article of mine about New Direction Trust Company.
Commendably, Zaner Precious Metals are hands-on when it comes to their clients. Specifically, they have a 24/7 support line for inquiries about rollovers, opening an account, and virtually anything about investing.
Lastly, the company mentioned of a buyback policy. Although, I was unable to find meaningful information about this. That is why, if you are looking to sell back metals you brought from them, you need to contact them first.
Prices and Fees
For its prices, Zaner Precious Metals have a high degree of transparency. Whenever you choose a certain product, you will be met with two options.
You can either pay using wire/check price or your credit card. Take note, paying using a card is more expensive than the former.
Their prices typically play around $100 to $500 for low-grade, low-value assets. On the other hand, IRA-eligible assets are priced around $1500-$3000.
In the case of their IRA services, since they are working with New Direction Trust Company, I do suggest reading my review about this company. If you navigate to Zaner Precious Metals, you will be unable to find any information about their IRA fees.
How Does It Work?
Since we only have relevant data about their precious metals offerings, we will be putting our focus on that. Once you pick the item you like, you can put it in your cart and then check out. No more account creations needed!
After which, you are going to provide some small details about yourself, for clarification and security purposes. After everything, you can then pay for the items you’ve checked out.
Surprisingly, their whole group is amicable and accomodating. You can expect to receive your package within 3-5 business days. Also, you can ask about discounts for bulk orders. How neat is that!
As a note, this company practices ‘good faith policy’. In other words, once you received a confirmation, you cannot cancel any transactions regarding selling or buying to them.
Product Grading and Authenticity
As a precious metals investor, it really pays to ensure that the products that you are purchase are authentic and investment-grade.
But don't worry because Zaner Precious Metals take it upon their hands to double check. They are partnered up with third-party institutions to grade and confirm the authenticity of their products.
But, you must take note that the authentication of these said products will eventually lead to their price decrease or guarantee any risks in relation to the grading process.
Furthermore, you need to recognize that Zaner Precious Metals is not a financial adviser. So they cannot guarantee you any profits. Furthermore, like the other markets, coin and bullion prices are very volatile.
It is up to you whether you want to buy precious metals or not.
Payment Methods
Currently, Zaner Precious Metals only accept bank wire, personal check and credit cards. They do not accept cashier checks, money orders, bank drafts (bill pay), ACH, or cash.
It is important to know that your products will not be shipped until your payment is cleared.
With that, personal checks must be mailed and bank wires must be received no later than the next business day after ordering.
Shipping Policy
Upon checkout, there will be a shipping calculator that will show you how much additional fees will be added to your payment. These cover the shipping and full insurance of your precious metals.
Once all of your orders are in stock, they will be shipped. If not, they have to wait until they are available. Moreover, you will not be able to request for a refund or a reship in case the orders are lost, IF the carriers did not notify Zaner Precious Metals yet.
International Orders
Zaner Precious Metals accept international orders. But they can only be paid via wire transfer. For the shipping costs, you need to contact them company to find out.
Furthermore, you will be responsible for paying any taxes that will be charged along the way.
Return Policy
If ever you decide to return your orders to Zaner Precious Metals, you must ship them via a major carrier, registered and insured.
Zaner Precious Metals will not assume any responsibility for these items during transit and only when they have received them.
If you return certified coins, make sure that their protective case is still in good condition and not tampered or damaged.
Bullion-type coins and bars are not eligible for returns. And lastly, you must include an itemized invoice for the products that you have returned.
Zaner Precious Metals FAQs
How long will it take to receive my orders?
It usually takes 3 to 5 business days for orders within the United States to be delivered.
Does Zaner Precious Metals buy precious metals?
Yes they do. If you have any precious metals you want to sell, simply contact Zaner Precious Metals.
Are there are discount offers?
Yes there are discounts on large orders. Just give them a call and tell them about the products you want to purchase.
Is it possible to pick up my orders in their location?
Unfortunately, no. All items are safely stored in vaults away from Zaner Precious Metals. The company only ships them in any circumstance.
Zaner Precious Metals Reviews and Ratings
Now, this is where Zaner Precious Metals fall off. Normally, companies that are in the industry for quite some time will already have collected a lot of reviews. But, it is different in this company’s case.
Sadly, the only reliable review I found online was with Better Business Bureau. They are an accredited company as well as garnering an immaculate A+ rating. But it does not have any reviews from customers. Now, this is something that might deter future clients and investors.
Personally, this is something to consider when deciding to buy products from Zaner Precious Metals. Firstly, this speaks a lot about the company’s online presence. Or perhaps, they might have a small client base that is not willing or unable to give out a few good words about them.
If you really take reviews and ratings seriously, then I suggest that you check out Goldco, which has thousands of positive ratings and reviews online.
Pros and Cons
Pros
Cons
Final Words
To conclude, this ‘Is Zaner Precious Metals A Scam?’ article arrives at a resounding no! First off, they have a good array of products and services as well as excellent customer service. Not to mention, they have IRA services, albeit indirectly.
As a bullion dealer, they have the common and popular products that is alluring to investor eyes. Moreover, they provide ample help when it comes to investing and trading. Honestly, this company gives it all and deserves a thumbs up!
Perhaps, if you are inclined towards business ventures involving rotations of assets, then this company is perfect for you! Although, it falls of at some important area. Take for example, their relatively lacking online presence.
No matter what, this is a good company. But, as a fellow enthusiasts, I heartily suggest conducting business with another IRA firm. After all, you want the best out of your money. In that case, Goldco must be at the top of your priority list!
As usual, you have my gratitude and appreciation for sparing a fraction of your time reading this article. For any comments and suggestions, do leave them in the appropriate section below.
Any updates about this ‘Is Zaner Precious Metals A Scam?’ article will come in the shortest time possible. Do visit this good read again for those updates!
