SchiffGold Review (Is This Company Legit?) (UPDATED 2023)

June 6, 2023

Schiff Gold Review

Hi there, Welcome to my SchiffGold Review!

Precious metals seem to be already catching the attention of countless people. Gold IRA in particular, which is a good option for investors who want to diversify their retirement portfolio and protect their assets from inflation.

Unfortunately, some firms have been trying to use these opportunities to profit rather than actually helping these people. Precious Metals and Gold IRA scams have led to millions of dollars lost from people each year.

Due to these, Peter Schiff, the owner of SchiffGold, started his own company. He ought to serve people truthfully, unlike a number of others, who are opportunistic in their approach to rip people off their money.

But the question is, Is SchiffGold actually good? Does this company have a positive reputation? Has it actually lived up to its promise to serve investors truthfully? We are about to find out in this SchiffGold Review!

But if you want to know immediately our top-recommended precious metals company, click here!

SchiffGold Review Quick Summary

Schiff Gold Review logo

Name: SchiffGold

Founder and CEO: Peter Schiff

Price: Varies depending on your investment

Fees: $180 per year (storage)

Rating: 4/5

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What is SchiffGold?

Schiff Gold Review website homepage

SchiffGold is a full-service precious metals dealer and firm based in New York. The company offers a variety of gold and silver products, bullion, coins, and ETF's. SchiffGold was founded by Peter Schiff back in 2010.

The company actually was originally called Euro Pacific Precious Metals when Peter Schiff founded it on 1996. It was rebranded as SchiffGold on October 2014.

SchiffGold is a member of the London Bullion Market Association (LBMA) and the New York Mercantile Exchange (NYMEX). These two are vital for gold and silver trading as they contribute to efficiency and liquidity in the market.

The company's range of services and products to offer is a bit limited, compared to its competitors. It mainly focuses on precious metals. That is why it markets itself as a worldwide bullion provider.

Nevertheless, the company is popular among investors as its precious metals, industry-standard coins, as well as Gold IRA's are among the best in the market.

Who is the Owner?

The owner and Chief of Chairman of SchiffGold is Peter Schiff. He is a renowned financial commentator, author and investment broker. Moreover, he is the Chief Global Strategist of Euro Pacific Capital, Inc. and the host of The Peter Schiff Show.

Peter Schiff was one of the forecasters who predicted the devastating 2008 crash and financial crisis. He highly recommends investing in precious metals to keep us safe financial challenges, especially during the times when the market falls.

Since then, he has always been part of the major forces that raise national and international awareness of precious metals' role in making a balanced, hedged portfolio.

SchiffGold is Peter's instrument of providing trustworthy services to investors who are interested in precious metals. In fact, the desire of providing brokerage services to investors interested in bullion was the motivation he needed to create SchiffGold.

He was very concerned about clients who were confused which one to invest on: low or high-quality products. And he believed that he has the best solution for this.

In 2016, he sold SchiffGold to Goldmoney, and served as the company's chairman. Not only that, he shares his knowledge through his lectures in major finance conferences.

SchiffGold Executive Team

To be sure that his mission and vision are always met, Peter Schiff had to pick the best of the best in the industry. He formed a team of brilliant and strategic thinkers in the field of finance and precious metals.

The following are the executive team of SchiffGold, ensuring transparency and accountability:

  • Matt Malleo -Executive Director and Senior Precious Metals Specialist
  • Jonathan Sosnay - Executive Director and Senior Precious Metals Specialist
  • Fabian Gambino - Director of Technology and Senior Precious Metals Specialist
  • Joel Bauman - Senior Precious Metals Specialist
  • River Allen - Senior Precious Metals Specialist
  • Matthew White - Precious Metals Specialist
  • William Xiong - Precious Metals Specialist
  • Valerie Alikakos - Valerie Alikakos

These people, with their wealth of experience in the precious metals industry, has helped Peter and SchiffGold in providing the best products and services to their clients.

SchiffGold Products and Services

Buying Precious Metals

SchiffGold offers a large variety of precious metals, coins, bullion and bars. However, the company does not sell any numismatic coins because they make poor investments due to their excessive markups and commissions and the complicated liquidation of these coins.

  • Precious metals bullion. SchiffGold offers a wide variety of precious metals bullion, including gold, silver, platinum, and palladium. Bullion is available in a variety of sizes, from small coins to large bars.
  • Precious metals IRAs. SchiffGold can help you open a precious metals IRA. A precious metals IRA is a type of retirement account that allows you to invest in precious metals.
  • Precious metals storage. SchiffGold offers a variety of precious metals storage options, including home storage, third-party storage, and allocated storage.
  • Precious metals education. SchiffGold offers a variety of educational resources on precious metals, including articles, videos, and webinars.

SchiffGold has gold and silver coins and bars, platinum, palladium, barter metals and limited edition bullion. All of these products are on sale with the lowest prices. SchiffGold guarantees that all of them are of high quality.

How to Buy Precious Metals from SchiffGold?

SchiffGold made the process of buying precious metals from them as easy as possible. You can do that in these 4 steps:

1. Contact SchiffGold

First and foremost, you must contact SchiffGold. You can do that by giving them a call to ask for a precious metals specialist. You can also do a live chat.

This specialist will brief you about the company and will even offer you an outlook of the precious metals market and give you advice and assistance on which precious metals fit you most.

2. Place the Order

Once you have decided on which precious metals you want, the specialist will send you an email that contains the details of your order.

This includes the cost, shipping and insurance, and of course, the payment instructions.

3. Pay for the Order

When you pay for your order, a full payment must be done through bank wire transfer or check and must be received in the SchiffGold Customer Account.

Usually, SchiffGold receives bank wire transfer payments in 24 hours, depending on your location and bank. As for check payments, SchiffGold is required to wait 5 business days.

4. Shipping

SchiffGold ships products via U.S. Postal Service, FedEx or UPS, with a full insurance through Lloyd's of London.

Processing of orders take 1 to 2 business days and shipping usually takes 2 to 4 business days.

Buying Precious Metals with Cryptocurrency

Since 2014, SchiffGold was one of the very first precious metals company to accept cryptocurrency as a form of payment. Here are the steps you need to undergo:

Schiff Gold Review cryptocurrency payment step 1
Schiff Gold Review cryptocurrency payment step 2
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Schiff Gold Review cryptocurrency payment step 4

Selling Precious Metals

If ever you want to sell your precious metals, you can go to SchiffGold. Either you bought the metals from them or from another company, SchiffGold is willing to buy them.

Do not worry if you are selling a product that is not shown on SchiffGold's website. Simply contact the website to discuss it. Here are the steps for you to do it.

How to Sell Precious Metals to SchiffGold
1. Contact Them

The first thing you must do is to contact SchiffGold. You can do this by calling its contact number, live website chat, or email.

You will be able to get instructions from a SchiffGold employee so that you may proceed with the process.

2. Ship/Drop-off

Afterwards, you should either drop off in person or ship your precious metals. Here are the following locations where you can ship or drop them off:

  • New York
  • Delaware
  • Las Vegas
  • Dallas
  • Los Angeles
  • Toronto
  • Zurich
  • Singapore
3. Receive Your Payment

Once SchiffGold has received your precious metals, they will send your payment via bank wire transfer or check.

Gold IRA

SchiffGold also gives importance to their clients' retirement funds. That is why it provides precious metals IRA services such as gold rollover and 401(k).

If you did not know, traditional 401(k) accounts are limited to the types of assets you can choose from. Yes, you can invest in precious metals funds, gold and silver mining stocks and other paper assets.

However, these 401(k) accounts will not allow you to invest in physical gold and silver. Self-directed IRAs, however, will allow you to.

SchiffGold will assist you in opening your own self-directed IRA accounts with their partner custodians. Or, if you already have existing IRA accounts or 401(k) accounts, SchiffGold will provide you with rollover services to help you transfer your funds to your new self-directed IRA.

How to Set-up a Gold IRA Account with SchiffGold?

You only need to contact SchiffGold and they will send you an e-mail with links that will redirect you to two of their partner custodians.

It will be up to you which one you will choose. Note, the IRA fees may differ depending on the custodian. All of the paperwork requirements must be submitted through e-mail, fax, overnight courier, or standard US Mail.

The said custodians will then be the one to guide you with the process of setting up your IRA account and rollover. Usually, it would take 2 weeks or less to transfer your funds to your new account.

Once your IRA is set-up, the custodian you chose will contact SchiffGold so that you can start purchasing precious metals from the company and fund them to your IRA, account.

Secure Vault Storage Services

To secure their clients' precious metals, SchiffGold also provides vault storage services. The company is partnered up with Transcontinental Depository Services, LLC, a reputable storage company.

It offers 24/7 security features as well as, full-time vault guards to ensure your precious metals' protection. Both allocated and segregated vault storages are offered.

There are multiple locations available namely: Las Vegas, Nevada, Toronto, Canada and Singapore.

For the pricing, SchiffGold claims that TDS charges low price due to their partnership. They only charge one yearly price that already includes both allocated and segregated vaults, which costs $180 per year.

Safe Home Storage Services

Other clients on the other hand would always prefer to store their precious metals in a private storage, such as their homes. SchiffGold acknowledges this and that is why it also provides safe storage services.

There are several safes that are being sold in the company which will protect and store your precious metals in your own private locations!

Employment Opportunities

SchiffGold also offers employment opportunities for everyone! At the time of writing this SchiffGold Review, the company is looking for Junior Brokers.

This is the perfect role to get experience and learn from professional brokers while at the same time, develop your marketing phone sales skills. After a year of being a junior broker, you will then be able to contribute to developing and growing the company.

Estate Sales

Upon updating this SchiffGold Review, I found out that the company also offers estate sales too. They aim to assist clients in providing an easier and faster way to liquidate their estates.

SchiffGold buys large estates, gold, silver, precious metal coins and bars, and large lots of jewelry in the greater New York City area, New Jersey, and northern Delaware.

The company will professionally evaluate your assets and will then send you a quote. Its highly professional team will evaluate your assets through phone, e-mail or in person.

Market Analysis and Research

SchiffGold does not only provide you with the products and services to help you in your investments. It also provides you with the necessary knowledge that can help you make wiser and smarter investment choices in the future!

Its website has a Research and Analysis section which contains all kinds of information such as updated price charts, commentaries, and finance articles.

For those of you wondering, yes these information are legit. The owner, Peter Schiff, also has a blog which you can check out. Peter is highly knowledgeable in finance as well as the precious metals industry.

SchiffGold FAQs

Does SchiffGold Charge Sales Tax?

SchiffGold stated that since they conduct their transactions via phone and e-mail, they are not required to charge sales taxes.

This can lead to significant savings which vary depending the laws of where you reside.

What are the Payment Methods?

Based on the website, full payments for the orders must be paid via bank wire transfer or check. This will be received in the SchiffGold Customer Account.

Bank wires are usually received by the company within 24 hours, while checks are fully cleared within 5 business days. These are subject to change depending on your location.

SchiffGold also accepts cryptocurrency as a payment.

How do they Ship?

SchiffGold would ship your products via US Postal Service, UPS or FedEx, fully insured via Lloyd’s of London.

All of your packages are packed discreetly and SchiffGold holds liability over them until they are securely delivered to you and signed for. Processing orders will take up to 1 to 2 days, while shipping will take 2 to 4 days.

Moreover, orders that are paid via wire transfer will be shipped way quicker than the orders paid via check. This is because clearing the check takes longer.

SchiffGold Ratings and Reviews

2023 UPDATE: As of 2023, they have ZERO reviews on Trustpilot.

Moreover, in BBB, SchiffGold has no profile. If you did not know, in Your Gold IRA Guide, we always value the ratings and reviews of a company, especially the ones in the finance and investment industry.

It is one way for us to determine how past clients experienced the products and services of the company.

However, in this case, SchiffGold does not have any ratings and reviews. It does have testimonials in its website. Moreover, the owner is Peter Schiff, a well known expert at the industry.

That alone is enough to say that the company is legit. But it does not mean that its products and services are excellent.

If you want to check out the list of the top-rated precious metals company, click here!

Pros and Cons


  • Offers high quality precious metals
  • Low prices
  • Has employment opportunities
  • The website is very educational
  • Peter Schiff is an experienced person in the world of investment and precious metals
  • Offers IRA services
  • All orders are fully insured


  • No ratings yet
  • Some information are not disclosed

Is SchiffGold A Legit Company?

To conclude this SchiffGold Review, it is time to find out if it is a scam or not. SchiffGold is not a scam. 

It is legit company that serves people truthfully and provides precious metals with high quality at a low cost. Moreover, it is owned by Peter Schiff, who is a renowned author, investment broker and a knowledgeable man in the world of precious metals.

Another thing is that the website of SchiffGold is full of useful information that can really help you with understanding the precious metals industry.

However, if you truly want the best of the best and invest there, read the next section about the top recommended precious metals firm!

Thank you so much for reading my SchiffGold Review! If you have any questions or comments, please feel free to leave them below in the comments section!

Anis is a digital marketing expert that enjoys writing blogs and helping people avoid scams online; he is passionate about investing in real estate and gold; in his free time, Anis loves playing football, going to the gym, and hanging out with friends.

By the way, if you are tired of scams and want to invest with a legit gold company, check out my 6 top legit gold IRA companies of 2023!


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