If you listen to many financial experts, they'll advise against investing all of your money in the same place. By diversifying your investments, you can stay protected against inflation and the volatile stock market while setting yourself up for a comfortable future. Precious metals are a popular choice for individuals looking to diversify their portfolio due to their scarcity, value, and liquidity.
Texas Precious Metals can help you invest in gold and silver, but are they the right company for you to choose? Let's take a look at the products and services that Texas Precious Metals has to offer so you can decide for yourself!
About Texas Precious Metals
Texas Precious Metals was founded in 2011. During the decade or so that they have been in business, the company has worked to set itself apart from the competition and prove that they are the best choice for individuals looking to invest in precious metals.
Texas Precious Metals doesn't have any order minimums and offers free shipping for any order. Plus, if you order over $1,000 in precious metals, your order will ship with UPS Next Day Air to get it to its destination even more quickly.
Texas Precious Metals accepts credit card payments for any orders under $10,000, which is different from what you'll find with some of their competitors. They work quickly to process and ship orders too. In most cases, your order should be shipped within three business days.
Investing in Gold
If you would like to add some gold to your portfolio, there are a number of options available through Texas Precious Metals. Keep in mind that the selections can vary based on what is currently in stock; to ensure that orders process quickly, Texas Precious Metals only sells the coins and bars that they currently have in stock.
Below are a few of the various gold coins and bars available through Texas Precious Metals:
Investing in Silver
Silver is another great asset to add to a portfolio. Texas Precious Metals also offers a large selection of silver coins and bars (based on availability and what is currently in stock). Here are a few of the options you may wish to add to your portfolio:
Precious Metals IRAs
Texas Precious Metals is not an IRA custodian, but they can connect you with a custodian company to help you open up a Precious Metals IRA. Once you work with the custodian they recommend (or a different company you prefer) and have opened up your account, you can work with a member of the Texas Precious Metals team to select the precious metals you would like to add to your account.
After you have selected the metals you'd like in your account, Texas Precious Metals will take care of sending your metals to the IRS-approved depository. The IRS has set strict rules for precious metals to be held in an IRA. Many of the coins and bars available through Texas Precious Metals meet these requirements, so you should have a nice selection of options to choose from.
Secure Storage Options
When you purchase precious metals through Texas Precious Metals for a personal investment or for your IRA, you can choose to have your metals stored at the Texas Precious Metals Depository. This is a highly secure sight with class 2- and class 3-euqivalent vaults where you can feel confident that your precious metals are safe and secure.
The Texas Precious Metals Depository does not charge any setup or withdrawal fees and offers competitive monthly storage pricing. All precious metals stored in the facility are fully insured by Lloyd's of London, giving you additional peace of mind that your investment is protected.
Are There Any Red Flags for Texas Precious Metals?
We believe it is always important to learn more about any company you plan to give your business to. This is even more true when you're talking about making a large purchase or investment, as you would be doing when investing in gold, silver, or other precious metals.
Looking at a company's website only tells you so much about a company. And, it is mostly just the good stuff that the company wants you to see. In order to get a better feel for a company and determine whether there are any red flags, you should read through reviews from past customers. These reviews can tell you things you won't find by visiting the company's website, such as the quality of the products they sell, how helpful and responsive the customer service team is, and whether there are any questions about the honesty or integrity of the company.
We looked through reviews from five of the most respected online review sites when writing this article: the Better Business Bureau, Business Consumer Alliance, TrustLink, Trustpilot, and Google. As the information below shows, there are very few reviews out there for Texas Precious Metals, though the company does have high ratings from the Better Business Bureau and Business Consumer Alliance.
Just because there are not many online reviews for Texas Precious Metals, it doesn't mean that the company isn't worthy of your business. However, it does make it a bit more challenging to get a full picture of what you could expect should you decide to work with them.
Is Texas Precious Metals a Scam?
No, there is nothing to suggest that Texas Precious Metals is a scam. The company has been around since 2011, it seems a bit hard to believe that a scam company would be able to stick around for a decade. Additionally, scam companies don't receive A+ ratings from the Better Business Bureau and AA ratings from the Business Consumer Alliance.
Texas Precious Metals seems like a decent option to work with. However, we think there may be better options out there for you to consider. There are a few things we wish were different about Texas Precious Metals that would help us feel more confident in really endorsing them to you.
First, Texas Precious Metals isn't an IRA custodian. If you are looking to add precious metals to your IRA, this means you'll have to find a separate IRA custodian to work to set up the IRA and have them purchase the precious metals from Texas Precious Metals. This is all possible, but we just think the whole process is simplified when you choose to work with one company that is both an IRA custodian and precious metals dealer.
We also wish there were a few more online reviews from past customers. While Texas Precious Metals has an A+ rating from the BBB and an AA rating from the Business Consumer Alliance, neither of these ratings are based on feedback from actual customers. We could only find one customer review on Trustpilot.
As we shared above, lacking reviews doesn't necessarily mean that a company is bad, but it would be nice to see more positive reviews to feel more comfortable doing business with Texas Precious Metals.
Pros & Cons of Texas Precious Metals
Texas Precious Metals has a lot to offer its customers. However, it doesn't make the cut for our most highly-recommended precious metals investment companies. We wish they offered platinum and palladium and that they were also an IRA custodian to simplify the process of setting up a Gold IRA. We think you may be happier choosing one of our top gold and silver investment companies instead of Texas Precious Metals.