Texas Precious Metals Review 2023: Legit or Scam? (Truth)

Hello there, welcome to my Texas Precious Metals Review.

Precious metals have been a valuable investment for centuries. Gold, silver, platinum, and palladium have all been used as currency and as a way to store wealth. They also serve as a hedge against inflation and economic uncertainties. 

Today, there are many companies that offer precious metal services, such as buying, selling, and storing precious metals. These companies can also provide information about the precious metals market.

Perhaps as you were searching for dealer companies to invest in, you came across Texas Precious Metals. Are you curious whether or not they are worth investing in? Well, that is exactly what we are going to find out here! Let's get started.

Texas Precious Metals Review Quick Summary

What is Texas Precious Metals?

Texas Precious Metals is a Texas-based precious metals dealer that was launched in 2011. It is a subsidiary business owned by the Kaspar Texas Traditions companies (KTT), a family-owned business that has been operating in South Texas since 1898.

The company has become one of the biggest precious metals dealer in the United States. Since its founding in 2011, through 2022, Texas Precious Metals claims to have processed more than $1.2 billion in client transactions, with a whopping 100,000 orders shipped around the country.

Due to its success, Texas Precious Metals have received multiple awards such as being included in Inc. Magazine's 200 Fastest Growing Private Companies in America. They were also awarded as the No. 1 “fastest growing Aggie-owned or Aggie-led business in the world” by Texas A&M University.

Who Owns Texas Precious Metals?

Texas Precious Metals is owned by Kaspar Texas Traditions. KTT is a holding company that is owned by the Kaspar family. Jason Kaspar, a fifth-generation Kaspar, is the CEO of Kaspar Texas Traditions and Texas Precious Metals.

Kaspar Texas Traditions are also the owners of business Silverback Homes, Ranch Hand Truck Accessories, and Espresso Marketing and Technology. 

Where is Texas Precious Metals Located?

Texas Precious Metals does not have any physical retail locations, meaning you can only buy precious metals products from their online website, or by their phone. However, they do have an headquarter office located in Shiner, Texas.

Texas Precious Metals Products

Texas Precious Metals offers a wide variety of products including gold, silver and platinum. These come in forms of coins and bars, and the company prides itself with offering only the highest quality and authentic precious metals.

Building up a reputation as a trusted source for precious metals investments, the following are the available products in their catalog:

• Gold: Texas Rounds, American Eagle, American Buffalo, Canadian Maple Leaf, Royal Mint Coins, South African Krugerrand, Austrian Philharmonics, Australian Perth Mint Coins, and gold bars.
• Silver: Monster Boxes, Texas Rounds, American Eagle, Canadian Maple Leaf, Perth Mint Coins, Austrian Philharmonics, South African Krugerrand, British Royal Mint, St. Helena Silver, and silver bars.
• Platinum and Palladium: American Eagle, Canadian Maple Leaf, platinum bars, palladium bars.

To view their full product catalog and pricing, please visit their website. The website also has a variety of features that can help you make informed decisions about your potential purchases.

Texas Precious Metals IRA

Texas Precious Metals does sell IRA-eligible precious metals but they are not an IRA custodian. They do not offer IRA services, but they do allow and facilitate their customers to roll over an existing IRA into a self-directed IRA.

The good thing is, Texas Precious Metals has a list of IRA custodians in their website that uses TPMD's depository for precious metals held in self-directed IRAs. The following are GoldStar Trust Company, Kingdom Trust, and Midland Trust Company.

It is still up to your own decision what IRA custodian you would want to open an IRA account with, but choosing among these 3 can save you the hassle. 

Apart from that, if you want a precious metal dealer that is also an IRA custodian, you should check out Goldco. This is our top-recommended precious metal company and they offer excellent IRA services.

How To Buy From Texas Precious Metals?

You can purchase products from Texas Precious Metals by either calling them at their company hotline or mobile number, or by visiting their website.

If you choose to visit their website, you should register and open an account with them first. Then you can proceed to the product catalog and select the type of precious metal you want to purchase, such as gold, silver, or platinum.

Once you've chosen the size and quantity of the precious metal you want to purchase, add it to your cart. If you're ready to check out, click the "Checkout" button and enter your contact information, shipping address, and payment method.

Once everything is confirmed, click "Place Order" to complete the purchase. The remaining thing you will need to do is to wait for your package. Rest assured, all packages are fully insured for free.

Texas Precious Metals Prices

Texas Precious Metals generally offers competitive precious metal product prices. Interestingly, they even have cheaper prices than other leading dealer companies.

The following list below is the prices of the common precious metals bought from Texas Precious Metals. These prices are as of July 19, 2023.

• 1 oz American Gold Eagle Coin: $1,835.00
• 1 oz American Silver Eagle Coin: $21.95
• 1 oz Canadian Maple Leaf Coin: $22.26
• 1 oz Australian Kangaroo Coin: $22.55
• 1 oz Austrian Philharmonic Coin: $22.17
• 1 oz South African Krugerrand Coin: $1,832.00
• 1 oz PAMP Suisse Gold Bar: $1,834.00
• 1 oz PAMP Suisse Silver Bar: $21.95
• 1 oz RCM Gold Bar: $1,833.00
• 1 oz RCM Silver Bar: $21.95

There are factors that affects these prices, including the type of metal, weight of metal, and even the services that it comes with. That is why, it is always a good idea to compare prices before making a purchase

Accepted Payment Options

Texas Precious Metals accepts a variety of payment options. The following below is a shortlist of the methods you can choose to pay for your transactions:

• Credit card:
• Bank wire transfer
• Cash
• Money Order
• Check

Texas Precious Metals accepts Visa, Mastercard, American Express, and Discover. There is a 3% processing fee for credit card payments on orders under $5,000. There are no fees for orders over $5,000.

The company also accepts cash payments for orders placed in person at its headquarters in Shiner, Texas. In the other hand, there is a $45 wire transfer fee for bank wire transfers.

Texas Precious Metals Buyback

The company offers a buyback program on its precious metals products, supposing that your product meet their requirements. In order to process a buyback, you will need to call their customer service representatives.

They will give you a quotation in which you are to agree with. If you decide to go through with the transaction, you will need to ship your bullion to Texas Precious Metals within 24 hours of "lock in". However, they also do offer door-to-door pickup for customer convenience.

Important to note is that Texas Precious Metals will only buy back any precious metals that are free from damages, and as much as possible is in their original packaging. The prices will be based on the current market price. Lastly, there is a 1% buyback fee for orders under $5,000. There are no fees for orders over $5,000.

Texas Precious Metals Depository

Texas Precious Metals opened its own private storage facility in 2018. The Texas Depository caters to individuals, IRA custodians, and other large commercial institutions who are looking for a safe and secure storage facility.

The Texas Depository is located in Shiner, Texas. The vault is not open to the public. Customers will need to schedule an appointment to access your precious metals.

Storage Services

Texas Precious Metals offers two storage facilities for precious metals: a 600,000 square foot facility in Frisco and a 30,000 square foot facility in Shiner. The Frisco facility is accessible to the public by appointment, while the Shiner facility is not.

Each one of them has their own policies, advantages, fees and taxes. The following below are the factors that you should consider when deciding the storage service you want.

• The type of storage you prefer: Texas Precious Metals offers two types of storage, vault storage and safe deposit box storage. Vault storage is the most secure option, while safe deposit box storage is less secure but still secure.
• Your location: If you live near one of the facilities, you may want to consider storing your precious metals there. If you live far from one of the facilities, you may want to consider storing your precious metals at the facility that is most convenient for you.
• The level of security you need: If you are concerned about the security of your precious metals, you may want to consider storing them in the Frisco facility. The Frisco facility is the most secure facility and is insured for up to $100 million.
• The cost: The cost of storage will vary depending on the type of storage you choose and the amount of precious metals you store.

Shipping Services

Texas Precious Metals uses UPS for their courier shipping services. You can either choose UPS Next Day Air or UPS Ground. Shipping costs are calculated based on the weight and destination of the order.

The company offers free shipping on orders over $5,000. For orders under $5,000 This applies to both UPS Next Day Air and UPS Ground shipping services. The former costs $25 and will arrive to you within 1 business day, while the latter costs $15 and will arrive within 3-7 business days.

Educational Services

Texas Precious Metals provides a wealth of educational resources to help investors learn more about precious metals. These resources include:

• News and updates: Their website has a news and updates section that provides investors with the latest information on the precious metals market. The section includes infographics and videos that explain complex market concepts in a clear and concise way.
• YouTube channel: Texas Precious Metals has a YouTube channel that features a variety of videos on precious metals investing.
• Trading guides: Texas Precious Metals also offers a number of trading guides that provide investors with step-by-step instructions on how to buy, sell, and trade precious metals.
• Articles and blogs: Texas Precious Metals also publishes a number of articles and blogs on precious metals investing. The articles cover a wide range of topics, from the basics of precious metals investing to more advanced strategies.

In addition to these resources, Texas Precious Metals also offers a variety of educational services, such as webinars and in-person seminars. These services provide investors with the opportunity to learn from experts in the precious metals industry and to get their questions answered.

Return and Cancellation Policy

Texas Precious Metals offers a 30-day money back guarantee return, as well as a 30-day cancellation window on all of their products. If you are not satisfied with a product, or if you change your mind about a purchase, you can return or cancel it within 30 days.

To return or cancel a product, you must contact Texas Precious Metals customer service within 30 days of receiving or placing your order. All returns must be shipped back to Texas Precious Metals at the customer's expense. Also, all cancellations are subject to a $35 cancellation fee.

Texas Precious Metals Customer Service

Texas Precious Metals has an excellent customer service team that is available to help customers via phone, email, and live chat 24/7. Customers have praised the company's willingness to help and assist customers through their queries. 

The phone hours are Monday to Thursday from 8am to 6pm and Friday from 8am to 4pm. However, the phone is closed on weekends but you can use the live chat 24/7 which is a good thing because you can get assistance any time.

Texas Precious Metals Affiliations

The company has built up its reputation in the precious metals industry. Their affiliations and membership proves to their legitimacy and commitment to provide customers with the best service.

The following are some of the organizations and associations that Texas Precious Metals is a member of, or affiliated with:

• Certified Coin Exchange (CCE)
• American Numismatic Association (ANA)
• Industry Council for Tangible Assets (ICTA)
• Numismatic Guaranty Corporation (NGC)
• Professional Coin Grading Service (PCGS)
• International Association of Professional Numismatists (IAPN)
• Bullion Dealers Association of America (BDAA)

Partnership With Goldstar Trust

Texas Precious Metals (TPM) and GoldStar Trust have partnered to offer self-directed precious metals IRAs. The partnership will give both companies' clients access to more integrated services.

GoldStar Trust's clients can now store their precious metals in a secure vault at the Texas Depository, which is safe, secure, and affordable. On the other hand, Texas Precious Metals clients can enjoy GoldStar Trust's trusted and legitimate custodial services.

Texas Precious Metals Ratings

If you follow our website regularly, you know that we are always keen on sharing how precious metals companies are rated by trusted experts in the industry.

In this section, we will see how the Texas Precious Metals company is rated and reviewed on other reputable websites. (AS OF JULY 2023).

Texas Precious Metals BBB Rating

Surprisingly, for a company that has huge success in the precious metals industry, Texas Precious Metals have a disappointing BBB profile. Although they are an accredited business since 2011, something seems off.

Yes, they have an A+ grading, but they do not have customer reviews. Thus, they do not have a star rating. 

Texas Precious Metals Yelp Rating

In their Yelp profile, they have a 4.6/5 star rating out of 25 reviews. Most customers gave Texas Precious Metals a 5/5 star rating. This number of reviews are still so few, compared to other companies who usually garners hundreds of reviews, but this can help already.

Texas Precious Metals BCA Rating

They are graded an AA from BCA. But similarly, Texas Precious Metals has 0 customer reviews in their BCA profile. 

Although it has good ratings, Texas Precious Metals lacks reviews, if we compare it to quite a few other precious metals dealers like Goldco, who has thousands of reviews.

Texas Precious Metals Complaints

Because Texas Precious Metals has very few reviews, it is also associated with having no complaints. In my research, I only found three complaints and negative reviews from customers.

You can see below some information about the complaints and negative reviews:

As you can see, the complaints are mostly about customer service and concerns regarding how Texas Precious Metal representatives handle customers. However, these were from years ago and there are no new complaints for now.

Better Alternatives to Texas Precious Metals

Before investing in precious metals, it is important to do your research and understand the risks involved. There are many reputable precious metals companies, but there are also some scams out there.

Here is a comparison of Texas Precious Metals with three of its major competitors: Goldco, Money Metals Exchange, and US Money Reserve.

Texas Precious Metals is a reputable company that offer precious metals. However I would recommend Goldco, the best precious metal company. Goldco has a number of advantages over Texas Precious Metals, including wider range of products and services, and better customer reviews.

Company Pros and Cons

Is Texas Precious Metals a Scam?

No, Texas Precious Metals is not a scam. Their years in business, memberships and affiliations prove that they are a legitimate company conducting legitimate business. They also are accredited with BBB with an A+ grading.

They seem to have great services, especially their storage, but they fall behind compared to its competitors due to fewer precious metals products. Also, their lack of reviews slightly affects their online credibility.

Final Verdict: Is Texas Precious Metals Legit?

To conclude this Texas Precious Metals review, let's answer this commonly asked question. Texas Precious Metals is legit. It is a legitimate precious metals dealer, that has been providing products and services since 2011.

Moreover, it is a member of various organizations, such as the ANA, ICTA and CCE. Some downsides to it is that it does not provide its own IRA services and it has fewer precious metal products.

If you are the type of person who value ratings and reviews, then you will not be impressed with Texas Precious Metals because it lacks a lot of reviews. If you wish to know the best precious metals firm, check out my top recommendation below.

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