SilverTowne Review (Legit Or Scam?) (Updated November 2022)

November 6, 2022

SilverTowne Review

Welcome to my SilverTowne Review. (UPDATED NOVEMBER 2022)

Have you ever wanted to purchase precious metals from SilverTowne in 2022? Well, first things first, you deserve an assurance that you will not be scammed.

That is why I have written this SilverTowne Review to give you everything you need to know about this company.

(If you’d like to move along to the company we believe is number-one in the gold IRA world, click here.)

What are SilverTowne's products and services? Is it legit? Or is SilverTowne a scam? Without any further ado, let's start getting answers.

SilverTowne Review Quick Summary

Name: SilverTowne

Founder: Leon Hendrickson

Price: Varies depending on your investments

Rating: 3/5

SilverTowne Review logo

What is SilverTowne?

SilverTowne is a precious metals and rare coins dealer that was founded by Leon Hendrickson back in 1949. It started as a small coin shop.

As years passed by, the company has established itself as one of the biggest dealers of precious metals, rare coins and modern coins globally.

SilverTowne provides its clients with products in two ways: its retail showroom in Winchester and its functional website.

SilverTowne Products and Services

SilverTowne mainly provides precious metals in forms of bullion bars and coins. There are various product categories available but the website shows these main categories:

  • Silver Bullion
  • Gold Bullion
  • Platinum Bullion
  • U.S. Coins

Other than precious metals, SilverTowne offers their own unique line of special gifts that are mostly rare coins.

For those asking if it offers IRAs, sadly, SilverTowne is not an IRA custodian. It does not offer any IRA services.

If you already know you want a gold IRA, we suggest you go to this review of a top recommended gold IRA company.

How to get started?

To start purchasing products from SilverTowne, you only need to create an account on its e-commerce website. Moreover, you will have to identify yourself as a buyer or seller.

Afterwards, you will be able to see the available products that you can buy. Then when you are done choosing, you can add them to your cart and proceed to the payment.

It is unclear what kind of customer service this company provides. It’s been around for a long time, but unfortunately that doesn’t provide evidence of the quality of its assistance to customers.

SilverTowne Ratings and Reviews November 2022 Update)

Below are the ratings and reviews of SilverTowne.

  • BBB - A+ rating, not BBB accredited, still no reviews as of September 14, 2022
  • Yelp - 3/5 rating with 13 reviews 2.5/5 rating based on 15 reviews
Silvertowne Yelp Rating September 2022
  • Facebook - 4.1/5 rating based on 360 375 reviews
  • Trustpilot - 3.3/5 rating with 2 reviews 3.8/5 rating based on 3 reviews. It seems the last review left gave them a positive rating, hence the increase in their average rating from 3.3 to 3.8 out of 5. Then again, this is only one extra review, so take it with a grain of salt. (Or a pinch of sugar if you prefer.)

To be honest, this is not the greatest showing ever for a company that handles such valuable products...

This number-one recommended gold IRA company not only handles large retirement accounts on a daily basis, but can boast extremely high ratings across the web (one of the main reasons we singled them out as a great choice).

SilverTowne Pros and Cons


  • Wide variety of precious metals
  • Has a showroom and an e-commerce website for the business
  • Been providing services for a very long time


  • Some poor ratings and reviews online
  • No IRA services
  • Not that many ratings and reviews in general, even near the end of 2022...

Is SilverTowne a scam?

For the conclusion of this SilverTowne Review, let me answer this question.

SilverTowne is a legitimate precious metals dealer. The fact that it has been in business since 1949 says a lot. Moreover, it provides foundationally good services and products.

I also like the fact that it adapted to the modern world, utilizing websites to offer products.

However, it does have its downsides. It has poor ratings and reviews despite its longevity. Moreover, it does not have any IRA services.

If you really want to work with the best, then check out my top recommended precious metals dealer and firm below.

Thank you so much for reading my SilverTowne Review. If you have any comments or questions, feel free to leave them in the comments section.

Check out my other reviews here!

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