Manhattan Gold & Silver: Unique Highlights Overview
Manhattan Gold & Silver (MGS), established in 1985, is a family-owned, full-service precious metal refinery located in New York City’s Diamond District. With nearly four decades of experience, MGS has built a reputation for providing seamless precious metal refining services to a diverse clientele, including jewelers, pawnbrokers, dentists, and industrial businesses.
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Comprehensive Refining Services
MGS specializes in refining precious metals such as gold, silver, platinum, and palladium. Their state-of-the-art facility houses six in-house furnaces and employs various testing methods, including acid tests, X-ray assays, ultrasound assays, and fire assays, to ensure accurate and efficient processing of precious metal lots. This comprehensive approach allows MGS to handle refining jobs of any size, providing same-day payouts to clients.
Client-Centric Approach
As a family-owned business, MGS emphasizes personalized service and transparency. Their core team has remained consistent since the company’s inception, fostering long-term relationships with clients. MGS is committed to honest and fair transactions, with payout prices set daily according to the London Gold Fixing, ensuring clients receive competitive rates for their precious metals.
Community Engagement and Philanthropy
Beyond their refining services, MGS is actively involved in the community. They are major sponsors of the New York State Jewelers Association and other professional organizations. Additionally, MGS participates in philanthropic activities, sponsoring local charity events and organizations, reflecting their commitment to social responsibility.
Accreditation and Reputation
MGS holds an A+ rating from the Better Business Bureau (BBB), indicating a strong commitment to customer service and ethical business practices. This accreditation underscores their dedication to maintaining high standards in the precious metals industry.
Thus, Manhattan Gold & Silver stands out as a trusted and reliable precious metal refinery, offering comprehensive services tailored to the needs of various industries. Their commitment to personalized service, transparency, and community involvement has solidified their position as a leader in the precious metals refining sector.
What is the Manhattan Gold & Silver?
Manhattan Gold & Silver (MGS) is a family-owned, full-service precious metal refinery located in New York City’s Diamond District. Established in 1985, MGS has grown into one of the country’s leading precious metal refining firms, serving a diverse clientele that includes jewelers, pawnbrokers, dentists, industrial firms, and miners.
Services and Specialization
MGS specializes in refining precious metals such as gold, silver, platinum, and palladium. Their state-of-the-art facility houses six in-house furnaces and employs various testing methods, including acid tests, X-ray assays, ultrasound assays, and fire assays. These advanced techniques ensure accurate and efficient processing of precious metal lots. The company’s comprehensive approach allows them to handle refining jobs of any size, offering same-day payouts to clients.
Commitment to Transparency and Customer Service
As a family-owned business, MGS emphasizes personalized service and transparency. Their core team has remained consistent since the company’s inception, fostering long-term relationships with clients. MGS is committed to honest and fair transactions, with payout prices set daily according to the London Gold Fixing, ensuring that customers receive competitive rates for their precious metals.
Community Involvement and Philanthropy
Beyond their refining services, MGS is actively involved in the community. They are major sponsors of the New York State Jewelers Association and other professional organizations. Additionally, MGS participates in philanthropic activities, sponsoring local charity events and organizations, reflecting their commitment to social responsibility.
Industry Reputation and Accreditation
MGS holds an A+ rating from the Better Business Bureau (BBB), demonstrating their strong commitment to customer service and ethical business practices. Their longstanding presence in the industry and their transparent, customer-first approach have contributed to their high reputation among businesses and individuals.
Manhattan Gold & Silver stands out as a trusted and reliable precious metal refinery, offering comprehensive services tailored to the needs of various industries. Their commitment to personalized service, transparency, and community involvement has solidified their position as a leader in the precious metals refining sector. Whether working with jewelers, investors, or industrial businesses, MGS continues to uphold the highest standards of professionalism and integrity.
Who are the People Behind Manhattan Gold & Silver?
Manhattan Gold & Silver (MGS), established in 1985, is a family-owned precious metal refinery located in New York City’s Diamond District. The company’s core team has remained consistent since its inception, ensuring expertise and consistency in all transactions.
Key individuals include:
- Michael Oistacher, Vice President, plays a pivotal role in overseeing operations and maintaining client relationships.
- Adam Oistacher, Director of Operations, is responsible for managing the day-to-day activities of the refinery.
- Megan Schlott, Customer Relations Specialist, is dedicated to ensuring customer satisfaction and addressing client inquiries.
- Bari Nelkin, Associate, contributing to various aspects of the business operations.
This small, dedicated management team emphasizes personalized service and attention to detail, propelling MGS to be a strong precious metal refinery.
Their commitment to customer needs and efficient business practices has been instrumental in building a substantial recurring customer base.
The leadership’s focus on transparency, fair pricing, and community involvement has solidified MGS’s position as a trusted name in the precious metals refining industry.
Does Manhattan Gold & Silver Offer IRA Services?
Manhattan Gold & Silver (MGS) is a family-owned precious metal refinery located in New York City’s Diamond District. Established in 1985, MGS specializes in refining precious metals such as gold, silver, platinum, and palladium.
While MGS offers a range of services related to precious metals, including buying and selling bullion, they do not provide Individual Retirement Account (IRA) services. This means they do not facilitate the creation or management of Precious Metals IRAs, which are specialized retirement accounts that allow individuals to hold physical gold, silver, platinum, or palladium as part of their retirement portfolio.
For investors interested in establishing a Precious Metals IRA, it’s essential to work with a company that specializes in these services. Such companies assist with setting up self-directed IRAs, ensuring compliance with IRS regulations, and coordinating the purchase and storage of IRA-eligible precious metals.
In summary, while Manhattan Gold & Silver provides comprehensive precious metal refining and trading services, they do not offer IRA services. Investors seeking to include physical precious metals in their retirement accounts should consider working with specialized Precious Metals IRA providers to ensure proper account setup and compliance with all relevant regulations.
What Products Can You Purchase at Manhattan Gold & Silver?
Manhattan Gold & Silver (MGS) is a well-established precious metal refinery and dealer located in New York City’s Diamond District. Since 1985, the company has specialized in buying, selling, and refining gold, silver, platinum, and palladium. MGS serves a diverse clientele, including jewelers, pawnbrokers, dentists, manufacturers, and investors. If you are looking to buy or sell precious metals, here is a detailed breakdown of the products you can purchase from Manhattan Gold & Silver.
1. Precious Metal Bullion
One of MGS’s key offerings is gold, silver, platinum, and palladium bullion in various forms. These products are popular among investors looking to hedge against inflation or diversify their portfolios.
- Gold Bullion – Available in bars, rounds, and coins of different weights.
- Silver Bullion – Includes silver bars and rounds, ideal for both investment and industrial use.
- Platinum and Palladium Bullion – Less common than gold and silver but valuable for industrial applications and investment.
2. Scrap Precious Metals
MGS buys and sells scrap gold, silver, platinum, and palladium from various sources, including:
- Old or broken jewelry
- Dental gold and silver
- Industrial scrap from manufacturers
- Silver flatware and collectibles
For those looking to purchase recycled metals, MGS ensures that all materials are properly refined and purified.
3. Numismatic and Collectible Coins
MGS occasionally deals in rare and collectible coins, including:
- U.S. Gold and Silver Coins – American Eagles, Buffaloes, and pre-1933 gold coins.
- Foreign Gold and Silver Coins – Canadian Maple Leafs, South African Krugerrands, and European gold coins.
- Historic and Numismatic Coins – Unique coins with historical significance or collectible value.
These coins are sought after by collectors and investors looking for both appreciation in value and historical significance.
4. Precious Metal Alloys and Industrial Metals
MGS also provides precious metal alloys used in:
- Jewelry making – Custom gold and silver alloys.
- Dentistry – Dental-grade gold and silver used for fillings, crowns, and bridges.
- Electronics and Industrial Applications – Gold and silver used in wiring, circuitry, and precision equipment.
These metals are refined to industry-grade purity and are used by professionals in various fields.
5. Refining Services and Custom Metal Solutions
While not a physical product, MGS offers precious metal refining services to businesses and individuals. Customers who bring in scrap or raw materials can have them refined into:
- Investment-grade bullion bars
- Custom-minted coins or rounds
- Alloys for industrial or jewelry-making purposes
Why Buy from Manhattan Gold & Silver?
- Reputable and Trusted Dealer – Over 35 years in the industry with a strong reputation.
- Fair Pricing – Competitive market prices based on live spot rates.
- Transparency and Integrity – Clear pricing and straightforward transactions.
- Same-Day Transactions – Quick processing and payouts.
Thus, Manhattan Gold & Silver offers a wide range of precious metal products, from investment-grade bullion and numismatic coins to scrap metals and industrial alloys. Whether you are an investor, collector, jeweler, or industrial professional, MGS provides high-quality metals and refining services with a commitment to fair pricing and exceptional service.
Manhattan Gold & Silver Fees and Pricing:
Manhattan Gold & Silver (MGS) is a family-owned precious metal refinery located in New York City’s Diamond District. Established in 1985, MGS specializes in refining gold, silver, platinum, and palladium, offering competitive pricing and transparent fee structures to a diverse clientele, including jewelers, pawnbrokers, dentists, and industrial firms.
Pricing Structure
MGS bases its payouts on the daily London Gold Fixing, a globally recognized benchmark for precious metal prices. This ensures that clients receive fair and competitive rates aligned with current market values. For example, as of January 11, 2025, the spot prices were approximately $2,690 for gold and $30 for silver.
Payout Rates
MGS offers payouts up to 99% of the current market value for gold, depending on the quantity and quality of the material being refined. This high payout rate reflects their commitment to providing value to their clients.
Fees and Additional Costs
MGS is known for its transparent fee structure, with no hidden charges for refining services. Clients can expect straightforward transactions without unexpected deductions. For specific services or large-volume transactions, it’s advisable to contact MGS directly to inquire about any potential fees or to receive personalized quotes.
Payout Estimator Tool
To assist clients in estimating the value of their precious metals, MGS provides an online Precious Metals Payout Estimator. This tool allows users to input the type and weight of their materials to receive an instant quote, facilitating informed decision-making.
Manhattan Gold & Silver’s fee and pricing structure is designed to offer clients maximum value through competitive payouts and transparent transactions. By aligning their rates with global market benchmarks and maintaining clear communication, MGS ensures a trustworthy and client-friendly refining experience.
What Do Manhattan Gold & Silver Reviews Say?
#1. The man proprietor or cashier has a terrible attitude and shouldn’t be interacting with the public, even though the jewelry is fantastic and quite costly.
#2. Very kind guys who took the time to explain everything to us and treated us with respect, especially during a busy period. And Danny in the refinery is a wonderful man. Go to these folks if you don’t want to be taken advantage of.
#3. For more than 15 years, I’ve known the men at Manhattan Gold, and we’ve never experienced any issues. Every week, we conduct business with the personnel, whom we adore since they are straightforward and approachable. They truly take care of their clients, and I have complete faith in them. I heartily endorse them! They have the experience to prove that they are the greatest in their field!
#4. They thoroughly examine each item to ensure you get credit for the right carat of each piece you offer for sale. They are incredibly competent.
Professional and friendly. Quick, truthful, and precise testing. Quick payment. I would strongly advise anyone working in the jewelry industry.
Why aren’t There Many Manhattan Gold & Silver Complaints?
Manhattan Gold & Silver (MGS), established in 1985, is a family-owned precious metal refinery located in New York City’s Diamond District. Over the years, MGS has built a strong reputation for professionalism, transparency, and customer satisfaction, which is reflected in the minimal number of complaints against the company. Several factors contribute to this positive standing:
1. Commitment to Customer Service
MGS emphasizes personalized service, ensuring that clients receive prompt and courteous attention. Their dedication to customer satisfaction is evident in the positive feedback from clients who appreciate the knowledgeable and friendly staff.
2. Transparent and Fair Transactions
The company is known for its transparency in transactions, offering competitive rates based on current market values. Clients value the honesty and integrity demonstrated during their dealings with MGS, which fosters trust and reduces the likelihood of disputes.
3. Long-standing Industry Experience
With decades of experience in the precious metals industry, MGS has honed its processes to ensure efficiency and accuracy. This expertise contributes to a seamless customer experience, minimizing potential issues that could lead to complaints.
4. Positive Customer Reviews
MGS has received numerous positive reviews across various platforms. Clients commend the company for its professionalism, fair pricing, and efficient service. For instance, on Birdeye, MGS holds a favorable rating based on customer feedback.
5. BBB Accreditation
MGS is accredited by the Better Business Bureau (BBB) with an A+ rating, indicating a high level of trustworthiness and a commitment to resolving any customer concerns promptly.
In conclusion, the scarcity of complaints against Manhattan Gold & Silver can be attributed to their unwavering commitment to customer service, transparent business practices, extensive industry experience, and the positive feedback they consistently receive from clients. These factors have solidified MGS’s reputation as a trusted and reliable precious metal refinery.
Are There Any Manhattan Gold & Silver Lawsuits?
Manhattan Gold & Silver (MGS), a family-owned precious metal refinery established in 1985 and located in New York City’s Diamond District, has maintained a strong reputation for professionalism and customer satisfaction. Over the years, there have been minimal legal disputes involving the company.
Notable Legal Cases Involving MGS:
- Crumwell v. Manhattan Gold & Silver, Inc. (2022):
- Case Summary: In February 2022, a lawsuit was filed against MGS alleging that their website was not sufficiently accessible to individuals with disabilities, potentially violating the Americans with Disabilities Act (ADA).
- Outcome: By May 2022, the case was voluntarily dismissed with prejudice, indicating that the parties may have reached a settlement or resolution outside of court.
- Matter of Manhattan Gold & Silver, Inc. v. Hynes (2008):
- Case Summary: MGS initiated a proceeding seeking the return of funds seized from their bank account under a search warrant.
- Outcome: The court denied the petition, concluding that MGS did not establish a clear legal right to the return of the seized property.
While MGS has been involved in a few legal matters over its decades-long operation, such instances are relatively rare and appear to have been resolved without significant impact on the company’s operations or reputation. The limited number of lawsuits suggests that MGS conducts its business with a high degree of professionalism and adherence to legal standards, contributing to its standing as a trusted entity in the precious metals refining industry.
Can You Trust Manhattan Gold & Silver? Is Manhattan Gold & Silver Legit?
Yes,
They are reputable gold dealers with vast experience.
Before working with a precious metals company, do your research.
Here are some tips to ensure a gold IRA company’s legality:
Tip #1: Check Their Regulatory Compliance and Accreditation
Check for proper licensing and registration with relevant financial regulatory bodies such as the Securities and Exchange Commission (SEC) or Financial Industry Regulatory Authority (FINRA).
Verify the company’s accreditation with industry organizations like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).
It will help you check how credible they are.
Tip #2: Look into The Company’s Background
- Research the company’s history, including years in business and any name changes.
- Examine the Better Business Bureau (BBB) rating and accreditation status.
- Review customer feedback on reputable third-party review sites like Trustpilot or Consumer Affairs.
Tip #3: Does the Company Offer Good Resources?
- Assess the clarity of information provided about fees, storage options, and buyback policies.
- Evaluate the quality and depth of educational resources offered to investors.
- Verify that the company provides clear information about IRS regulations regarding precious metals IRAs.
Tip #4: What are Their Product Offerings and Pricing?
- Ensure the company offers IRS-approved precious metals for IRA investments.
- Compare pricing with other reputable dealers to ensure competitiveness.
- Be wary of companies pushing numismatic or collectible coins over bullion for IRA investments.
Tip #5: Confirm the Storage and Custodian Partnerships
Verify that the company works with IRS-approved custodians and secure storage facilities. According to IRS’ regulations, you cannot store your gold IRA’s precious metals at your home.
You’ll need a certified third-party storage provider.
Check the company’s storage and custodian partner to ensure you’re working with a reliable firm. Moreover, ensure they offer segregated storage options for your precious metals.
Segregated storage means your owned precious metals products will be stored separately from other investors’ possessions. Similarly, non-segregated storage means your products will be stored along with others.
Keep in mind that storage providers charge extra for segregated storage.
Some popular custodians include Equity Trust and Goldstar Trust.
Red Flags to Watch For in Gold IRA Companies
- Promises of guaranteed returns or claims of “secret” investment strategies.
- Pressure to act immediately or make large investments without proper consideration.
- Lack of physical address or unclear company ownership structure.
- Unwillingness to provide detailed information about fees or policies in writing.
By thoroughly evaluating these aspects, investors can make an informed decision about the legitimacy and reliability of a gold IRA company. It’s crucial to conduct due diligence and, if necessary, consult with a financial advisor before making any investment decisions.
Manhattan Gold & Silver Review Summary:
Manhattan Gold & Silver (MGS) is a highly reputable precious metal refinery based in New York City’s Diamond District. Established in 1985, the company has gained recognition for its transparency, professionalism, and fair pricing in the buying, selling, and refining of gold, silver, platinum, and palladium. MGS serves a diverse clientele, including jewelers, pawnbrokers, dentists, manufacturers, and investors, and has built a loyal customer base due to its efficient and trustworthy services.
Customer reviews consistently highlight MGS’s competitive pricing as one of its strongest aspects. The company bases its rates on real-time market prices, ensuring customers receive fair and transparent payouts. Many clients appreciate the same-day payment policy, which makes transactions fast and hassle-free. Additionally, professionalism and expertise are frequently mentioned in reviews, with customers praising the staff’s knowledge, responsiveness, and ability to explain refining and market processes clearly.
Another factor contributing to MGS’s positive reputation is its commitment to honesty and transparency. Customers appreciate that the company does not engage in hidden fees or unclear pricing structures, making transactions straightforward and reliable. MGS is also recognized for its fast processing times, with many customers reporting quick and efficient service when refining precious metals.
MGS has earned an A+ rating from the Better Business Bureau (BBB) and has a strong presence in the industry, reinforcing its credibility. While most customer feedback is overwhelmingly positive, some reviews mention minor areas for improvement, such as the need for more flexible business hours or enhanced online resources for remote clients. However, these concerns do not significantly impact the company’s overall stellar reputation.
In summary, Manhattan Gold & Silver is widely respected for its transparent business practices, competitive pricing, and efficient service. Whether customers are looking to sell scrap gold, refine precious metals, or invest in bullion, MGS stands out as a trusted and reliable partner in the precious metals industry.
