Metals.com Review (Precious Metals Scam Exposed?!) (2023)

Hello! Welcome to my Metals.com Review!

(UPDATED AUGUST 2023)

To invest in precious metals, you need to find a trustworthy and excellent firm to help you out.

This is very important since we are talking about your investments and it does involve money, wealth and of course, your future.

In this Metals.com Review, we are about to find out what it is, how it works, and of course, whether it is a scam or not. You will actually be shocked after reading this review.

So without any further ado, let's get started.

Metals.com Review Quick Summary

What is Metals.com?

Since 2008, Metals.com has been a retailer of precious metals in the form of coins, rounds. It has since supplied its products through customers' orders placed online. 

Upon ordering, the company ships your order of gold, silver, etc. to your designated address or to an existing Individual Retirement account (IRA) - as an investigation revealed that Metals.com specifically targets conservative retirees (more on this later) with ads and websites. 

It handles its metals exclusively in physical bullion.

How does it work?

All purchases can be done thru Metals.com, the website, so all you have to do is visit it. From there, click the search bar and type your desired metal, then a catalogue of available products will be shown. 

What follows is like any modern online shopping experience (except without the hefty sum of an investment) - add the item to the cart, specify the quantity, and proceed to checkout.

Products

Metals.com classifies its products into two main categories: industrial metals and precious metals that are sold in a variety of shapes, sizes and lengths for your perusal.

Here is a list of its available industrial metals:

• Aluminum
• Steel
• Bronze
• Beryllium Copper
• Brass
• Nickel 
• Titanium
• Zinc 
• Copper

And, here is a list of its available precious metals:

• Gold
• Silver
• Platinum
• Palladium

Each category of metal are further broken down countless types, and can be rearranged in their order by: Bestselling, Featured, Low to High prices, High to Low, prices, and Alphabetical

Metals.com Pricing and Fees

Obviously, for each product on its website, a price is attached. However, the prices of these metals can fluctuate unexpectedly due to a number of market forces.

The prices of such metals rise and fall and likely affect its investment commodities as well. 

Gold for the most part is a stable price and can tolerate most market forces.

Metals.com Investment Opportunities

As of now, the company offers no investment opportunities. One may only rely on their products to generate income.

Is Metals.com a scam?

Everything sounds okay so far, right? 

Wrong. I'm here to tell you that Metals.com is to an extent... a SCAM. Here's why.

As of March 2020, Metals.com had been subject to 8 lawsuits! And no, it wasn't merely sued by dissatisfied customers, but by eight state security regulators from Texas, Colorado, Georgia, Alabama, Kentucky, Missouri, Massachusetts, and newly, Arkansas.

Moreover, the company was placed under receivership, leading to its accounts being frozen.

Metals.com is accused of financial fraud. Yikes! There is evidence of it misleading and deceiving elderly customers with illegal advisory schemes - overpricing its precious metals by millions! 

I don't know about you, retired or not, but I wouldn't support an enterprise that preys on the elderly to steal life savings. That's crazy! 

You may not encounter a lot of bad reviews of the company online, and this is probably because Metals.com threatens to take legal action against those who have complaints on their services.

One former employee however, gathered the courage to call out the company on Trustpilot's website - saying that the other reviews were fake.

Also, no reviews on Metals.com are featured on Trustlink and the Better Business Bureau (BBB) website.

UPDATE (2023): Currently, the company's website is no longer functional and will redirect you to an unsecured webpage that explains the receivership and the legal action being taken againstMetals.com

Pros and Cons

Conclusion

To conclude this Metals.com review, it has a long list of lawsuits against it. Moreover, Metals.com has a lot of complaints circling around the internet.

Moreover, Metals.com even changed the look of its website using stock photos. This is a huge red flag.

Because of these, I highly do not recommend you Metals.com. There are a lot better firms out there such as Regal Assets, Noble Gold, OneGold and of course, Goldco which is the top recommended firm.

Thank you so much for reading my Metals.com Review! If you have any questions, comments or experiences with it, feel free to share them below in the comments section!