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Whether you're considering adding gold or silver to your IRA or you're just looking to make a personal investment, you're making a decision that can have a positive impact on your financial outlook. Now, you just need to choose which precious metals investment company you want to work with.
While this may sound like an easy decision, the sheer number of companies out there can make it difficult to make a decision. Today, we're here to tell you more about Monarch Precious Metals so you can decide whether they're the company you'd like to work with. Continue reading to learn more about the products and services offered by Monarch Precious Metals, as well as what past customers have said about their experiences working with them.
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About Monarch Precious Metals
Monarch Precious Metals was founded in 2008. Monarch Precious Metals has its own mint and manufacturers unique bars and rounds. They use old-fashioned methods to mark the pieces the mint, giving them a more rustic and traditional look. However, if you're interested in a more modern, finished product, Monarch Precious Metals does also strike rounds and bars to accommodate this request.
When minting their products, Monarch Precious Metals uses only .999 fine gold and silver. All orders placed with Monarch Precious Metals ship for free. Free premium transit insurance is also included to protect your coins and bars as they travel to you.
When you visit the websites for many other precious metals dealers, you'll see a lot of the same coins and bars. Since Monarch Precious Metals mints many of the products they offer, that is not the case with this company. You'll notice that they offer many novelty bars and rounds that you won't be able to find anywhere else. Below are some of the various gold, silver, and copper items you can choose from.
Selling to Monarch Precious Metals
Monarch Precious Metals will also purchase precious metals if you are looking to sell some items. If you have any of the gold or silver bars or rounds minted from the company, they will buy those back from you. Additionally, they will also purchase other .999+ fine gold or silver bars and rounds.
The exact amount your items will be worth will vary based on the current spot price and some other factors. You'll receive about 99% of the current spot price for any Monarch Precious Metals branded coins, bars, or rounds and between 95% to 98% of the spot price for other items.
If you want to sell to Monarch Precious Metals, you'll need to have a minimum of 5 grams of .999 gold or 10 troy ounces of .999 silver. You can contact the company to receive a quote and identify the next steps for shipping and selling your precious metals.
Are There Any Red Flags for Monarch Precious Metals?
Monarch Precious Metals has been in business since 2008. When you consider that this is over a decade, it seems a bit strange that we were only able to find a handful of reviews from past customers.
Checking reviews from previous customers is our tried-and-true method of learning more about a company to determine whether they are reputable and worthy of our business. We were a bit surprised that we could not find any reviews of Monarch Precious Metals through the Business Consumer Alliance, TrustLink, or Google. And, we only found one review on Trustpilot and three customer reviews on the Better Business Bureau's website.
While there are not that many online reviews available for Monarch Precious Metals, it doesn't necessarily mean that the company is not trustworthy or deserving of your business. However, when you compare the lack of reviews for this company with the large number of positive reviews for other companies, it can make it feel like you're taking more of a risk giving your business to Monarch Precious Metals.
On top of the small number of reviews, the few that are available are not overwhelmingly positive, either. Monarch Precious Metals has just a 2.33 out of 5-star average on the Better Business Bureau's website and a 3.7 out of 5-star average on Trustpilot.
Is Monarch Precious Metals a Scam?
Now, onto the big question: is Monarch Precious Metals a scam? No, we did not find any information that indicated that Monarch Precious Metals is a scam. However, they also wouldn't be our top recommendation for anyone reading this article.
Keep in mind that the final decision about who you give your business to is totally up to you, but we're here to give you our thoughts on Monarch Precious Metals.
We were thrown off by the lack of reviews from past customers for a company that has been around for over 10 years. Many of our top recommended companies have been in business for a similar amount of time, yet they have thousands of reviews from past customers.
Seeing the negative reviews also makes it a bit more difficult to recommend Monarch Precious Metals to our readers. Two of the three reviews on the BBB website are very negative (1 star) and can make you wonder if you'll have the same experience the reviewers did.
Another reason we might suggest choosing a different company to work with is that Monarch Precious Metals their selection of coins and bars pales in comparison to what other companies offer. Also, if you're looking for more traditional bullion products, you may not be able to find them through Monarch Precious Metals. Rather, many of their products are more novelty items, such as silver skulls and adult novelty silver rounds.
Monarch Precious Metals website also does not mention any IRA services. Adding precious metals to an IRA is an excellent way to diversify your portfolio and prepare for retirement. If you're interested in opening a Gold IRA, you'll need to find another company to work with.
Pros & Cons of Monarch Precious Metals
So, that's what you need to know about Monarch Precious Metals. Do you think they're going to get your business, or are you interested in learning about one of top-recommended precious metals investment companies? We think you may feel more confident giving your business to one of these other companies that has more positive reviews and feedback from past customers than what is available online about Monarch Precious Metals, but the decision is up to you!
Although we think Monarch Precious Metals is a pretty solid company, they did not make our top 5 list. We believe that the companies on this list provide better options.
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