Welcome to my "What Is Monetary Gold?" review! (UPDATED 11/6/2022)
Precious metals seem to be finally getting some attention, especially in this time of crisis.
There are several precious metal dealers out there. In this review, we shall talk about what is Monetary Gold. Is it a legit company? Or a scam? Well, here's the answer.
Monetary Gold Review Quick Summary
Name: Monetary Gold
Founder: Not disclosed
Price: Varies depending on your investment.
What is Monetary Gold?
Let's get to know this company first. Monetary Gold is a precious metals direct dealer that was created back in 2000.
It is quite unique compared to the others because of the fact that they deal directly with precious metals providers and then pass the costs to their clients.
Monetary Gold aims to help people acquire the best precious metals for their investment portfolios. At the same time, with their IRA services, they want to make sure that their clients will retire financially secure.
Monetary Gold Products and Services
Monetary Gold currently offers gold and silver coins. However, they claim that bullion discussion is an option. So if you are looking for one, you can simply contact them.
Moreover, platinum and palladium will be offered soon in the company. Apart from that, Monetary Gold offers IRA services and will directly deal with precious metals sellers, which is great because it reduces the rates!
Monetary Gold has trained and professional representatives who will make sure that the clients' needs are catered.
In Monetary Gold, there are three kinds of precious metals that you can avail.
Each of them have their own pros and cons. Moreover, the premium on each of them will greatly depend on rarity, economic, grading and other factors. Below, you can see the three kinds.
How to open an IRA account
If you wish to start an IRA account with Monetary Gold, you will have to go through 3 steps.
But, first things first, you need to contact an IRA representative to find out the fees and of course, storage, where you can safely secure your assets. Monetary Gold works with trusted depositories.
- Application - First, you will have to complete the application process. A Monetary Gold IRA specialist will help you go through the process for free. It will take 48 to 72 hours for your account to go online.
- Funding - Once you account has been set up, you can start funding it. Moreover, if you have existing IRA accounts, you can also perform a rollover and transfer your funds.
- Buy precious metals - Finally, you can start choosing the precious metals that are best for your account. Again, the IRA specialist can also assist you.
How to buy precious metals
The process is made quite simple. You only need to contact Monetary Gold. Afterwards, a representative will assist you.
Once you have made your order, the precious metals will be delivered to your preferred destination if you wish to store it outside of an IRA.
Monetary Gold Prices and Fees
There are no fees for ordering precious metals with Monetary Gold. Moreover, the price of your orders will always vary depending on the current price of the precious metals.
According to their website, Monetary Gold covers up to 5 years of custodial fees for those clients who are qualified. Here are the other fees:
- Annual Storage Fee - IRAs stored at Delaware Depository has an annual storage fee of $100 for those gold that are worth up to $100,000 ($1 for each additional $1000).
- Delivery Fee - $30 for having your precious metals delivered to you. All shipments and packages are fully insured.
In Monetary Gold, the minimum investment is between $5,000 to $10,000, which also depend on your IRA custodian.
Ratings, Reviews, Complaints (Nov '22 Update!)
When reviewing precious metals firms, dealers and companies, I always take into consideration their online presence (reviews, ratings and complaints). In that way, we will truly know whether it is a good or bad one.
NOVEMBER 2022 UPDATE: As of 11/6/2022, it appears that Monetary Gold has one review with a rating of 3.2 Trustpilot.
Surprisingly, Monetary Gold received impressive ratings and reviews. In fact, I could not find any complaints made by past clients! Below, you can see the ratings and reviews.
Pros and Cons
- Offers IRA services
- Direct dealer
- Has various precious metals
- Free shipping
- Great reviews and ratings
- No price information on its website
Is Monetary Gold a scam? - Final Verdict
Let's conclude this Monetary Gold review with my final verdict. Monetary Gold is not a scam. It is a legit company that only aims to help its clients with their investments.
Moreover, it has been around since 2000 and received excellent ratings and reviews! Obviously, it is not a scam and you can trust it.
However, it is not just upfront with its prices. If you still wish to look for another company, you can always choose the #1 and top recommended precious metals company in the industry. You can check it out below.
Thank you so much for reading my "What Is Monetary Gold?" review! if you have any comments or questions, feel free to leave them in the comments section.