Legacy Precious Metals: Unique Highlights Overview
Legacy Precious Metals offers several unique features that distinguish it in the precious metals investment industry:
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Education-First Approach
Legacy Precious Metals prioritizes educating clients, ensuring they make informed investment decisions tailored to their unique profiles and goals. This collaborative process emphasizes understanding the intricacies of precious metals investing.
No High-Pressure Sales Tactics
The company maintains a client-centric approach by avoiding high-pressure sales tactics, allowing investors to make decisions at their own pace without undue influence.
Comprehensive Buyback Program
Legacy Precious Metals offers a “no questions asked” buyback program, providing clients with flexibility to liquidate their assets when needed, reflecting the company’s commitment to customer satisfaction.
Competitive Pricing
Leveraging long-standing relationships with a wide range of suppliers, the company ensures that all bullion is competitively priced, enabling clients to secure favorable deals in the market.
Home Delivery and Fast Shipping
Clients have the option to receive precious metals directly at their doorstep, with guaranteed fast, safe, and economical shipping, enhancing convenience and accessibility.
Diverse Product Offerings
Legacy Precious Metals provides a comprehensive array of investment products, including gold, silver, platinum, palladium, and numismatic coins, catering to various investor preferences and strategies.
Personalized Customer Support
The company assigns dedicated account representatives to guide clients through every step of the investment process, from account setup to asset selection and storage, ensuring a personalized and supportive experience.
These distinctive features underscore Legacy Precious Metals’ commitment to providing a client-focused, transparent, and flexible investment experience in the precious metals market.
Who are the People Behind Legacy Precious Metals?
Legacy Precious Metals is led by Charles Thorngren, who serves as the Chief Executive Officer (CEO). With over two decades of experience in financial investments, Thorngren brings a wealth of knowledge and expertise to the company. He is renowned for his insightful discussions on the significance of investing in precious metals and is a respected figure in the field.
Under Thorngren’s leadership, Legacy Precious Metals emphasizes an education-first approach, ensuring clients make informed investment decisions tailored to their unique profiles and goals. The company is committed to providing quality service and products to its clients, fostering a transparent, mission-driven service aimed at aiding clients in securing their financial future.
The company is headquartered in Frisco, Texas, and employs a team of knowledgeable industry professionals dedicated to assisting clients in their investment journeys.
Does Legacy Precious Metals Offer IRA Services?
Yes, Legacy Precious Metals offers services to help clients establish Precious Metals Individual Retirement Accounts (IRAs), commonly known as Gold IRAs. Here’s how the process works:
Account Setup
- Open a Self-Directed IRA: Begin by opening a self-directed IRA, which allows for investments in alternative assets like precious metals. Legacy Precious Metals can assist in this process, ensuring compliance with IRS regulations.
Funding the Account
- Transfer or Rollover Funds: You can fund your new IRA by transferring or rolling over assets from existing retirement accounts, such as a 401(k) or traditional IRA. Legacy Precious Metals’ IRA Processing department facilitates this process, aiming for a smooth transition.
Selecting Precious Metals
- Choose IRS-Approved Metals: Work with Legacy Precious Metals to select suitable gold, silver, platinum, or palladium products that meet IRS purity standards for inclusion in your IRA.
Purchasing and Storage
- Secure Purchase: Once selections are made, Legacy Precious Metals coordinates the purchase of the metals on your behalf.
- Approved Depository Storage: The purchased metals are then stored in an IRS-approved depository, ensuring compliance with regulations that prohibit personal possession of IRA-owned precious metals.
Account Management
- Ongoing Support: Legacy Precious Metals provides continuous support, offering educational resources and personalized assistance to help you monitor and manage your Precious Metals IRA effectively.
By following these steps, Legacy Precious Metals facilitates the incorporation of physical precious metals into your retirement portfolio, offering diversification and a hedge against economic volatility.
What Products Can You Purchase at Legacy Precious Metals?
Legacy Precious Metals offers a diverse range of investment products tailored to meet various financial goals and preferences. Here’s an overview of their offerings:
Gold Bullion
- Coins: Legacy Precious Metals provides a selection of gold coins, including popular options like the American Gold Eagle and Canadian Gold Maple Leaf.
- Bars: Investors can choose from various weights of gold bars, suitable for different investment strategies.
Silver Bullion
- Coins: The company offers silver coins, such as the Canadian Silver Maple Leaf, known for their purity and quality.
- Bars: Silver bars in multiple sizes are available, catering to both small and large investors.
Platinum and Palladium Bullion
- Platinum: Legacy Precious Metals provides platinum bullion products, including coins and bars, for investors seeking diversification.
- Palladium: Palladium bullion options are also available, offering exposure to this less common precious metal.
Numismatic Coins
- For collectors and investors interested in coins with historical significance or rarity, Legacy Precious Metals offers numismatic coins. These coins often carry value beyond their metal content due to their collectibility.
IRA-Approved Precious Metals
- The company provides a selection of IRS-approved gold and silver products suitable for inclusion in a Precious Metals Individual Retirement Account (IRA), allowing for tax-advantaged investment opportunities.
Each product category is designed to cater to different investor needs, from portfolio diversification to long-term wealth preservation. For the most current and detailed information on available products, it’s advisable to visit Legacy Precious Metals’ official website or contact their customer service directly.
Legacy Precious Metals Fees and Pricing:
Legacy Precious Metals offers a transparent and competitive fee structure for investors interested in precious metals, particularly through Precious Metals Individual Retirement Accounts (IRAs). Here’s a detailed breakdown of their fees and pricing:
Account Minimums and Investment Thresholds
- Minimum Investment for Gold IRAs: Legacy Precious Metals requires a minimum investment of $25,000 for establishing a Gold IRA, positioning it as a suitable option for serious investors seeking to diversify their retirement portfolios with precious metals.
Account Setup and Administrative Fees
- One-Time Setup Fee: Investors may encounter a one-time administrative fee when establishing a new Precious Metals IRA. While specific amounts are not publicly disclosed, such fees are standard in the industry to cover account creation and related administrative tasks.
- Annual Maintenance Fees: There are annual fees associated with account maintenance and storage, ensuring that all assets are securely held in IRS-approved depositories. The exact amounts can vary based on the chosen custodian and storage options.
Storage and Custodial Fees
- Secure Storage: Precious metals held within an IRA must be stored in IRS-approved depositories. Legacy Precious Metals collaborates with reputable storage facilities, and associated fees are typically charged annually. The specific costs depend on factors such as the type and amount of metals stored and the selected depository.
Pricing Transparency
- Product Pricing: While Legacy Precious Metals offers competitive pricing on their products, specific prices are not listed on their website. Clients are encouraged to contact the company directly or set up an investment account to receive detailed pricing information tailored to their investment needs.
Buyback Program
- No-Questions-Asked Buyback: Legacy Precious Metals offers a buyback program, allowing clients to liquidate their precious metals investments. This program provides flexibility for investors, though specific terms and any associated fees should be confirmed directly with the company.
Shipping and Delivery
- Home Delivery: For clients opting for direct purchase (outside of an IRA), Legacy Precious Metals provides home delivery services. They guarantee fast, safe, and economical shipping of precious metals. Shipping fees may apply, and it’s advisable to inquire about these costs during the purchasing process.
Additional Considerations
- Market-Linked Pricing: Prices for precious metals are linked to current market rates, which can fluctuate due to various economic factors. Legacy Precious Metals ensures that their pricing reflects these market conditions, offering competitive rates to investors.
- Consultation for Detailed Fee Information: Given that some fees and pricing details may vary based on individual investment choices and prevailing market conditions, potential investors are encouraged to consult directly with Legacy Precious Metals for the most accurate and personalized information.
By maintaining a transparent fee structure and offering competitive pricing, Legacy Precious Metals aims to provide investors with clarity and confidence as they diversify their portfolios with precious metals.
What Do Legacy Precious Metals Reviews Say?
Legacy Precious Metals has received mixed ratings across various review platforms, reflecting diverse customer experiences and perceptions. Here’s an overview of their ratings:
- Better Business Bureau (BBB): Legacy Precious Metals holds an F rating, the lowest possible, indicating significant concerns regarding business practices or customer interactions.
- Trustpilot: The company has an “Excellent” rating of 4.3 out of 5 stars, based on 12 reviews, suggesting generally positive customer experiences.
- TrustLink: Legacy Precious Metals has a rating of 2.5 out of 5 stars, based on 3 reviews, indicating mixed feedback from customers.
These varying ratings highlight the importance of conducting thorough research and due diligence when considering engaging with Legacy Precious Metals for investment purposes.
For the most current and detailed information, it’s advisable to consult these review platforms directly and consider reaching out to Legacy Precious Metals to address any specific concerns or questions.
Examples of Legacy Precious Metals Reviews:
His experience with Legacy had been absolutely perfect. She had the pleasure of dealing with Jeff Trejo and must say, “That man had the patience of a saint.”
He had been extremely knowledgeable about precious metals and investing options. Being a “old school” guy, he had many questions that Jeff answered confidently and directly.
He had gone above and beyond to ensure that she felt comfortable with her investment, even though it had been only a small amount.
Now that he was aware of how simple the process was, he decided he would add to his investment in the future.
They also enjoyed the peace of mind that came from knowing their investment was safely stored away in a protected vault. They found themselves uncertain about precious metals, and they decided to do their future a favor by choosing Legacy.
They had a great experience with Legacy Precious Metals. Jeff had been very helpful in getting the IRA set up for the transfer of funds from retirement accounts with former employers. He had been very accessible and had thoroughly explained the process and his options for splitting between gold and silver-backed IRAs.
He regularly purchased silver through the online platform. They appreciated how easy it had been to transfer funds into their account and complete the silver purchases. They appreciated the option to store the silver or have it delivered to their home – they had done both. He had gained peace of mind knowing that his investments were more diversified and that he owned tangible assets.
Christian had been extremely professional on the phone, showing genuine concern for what she wanted to invest in rather than pushing his own preferences. That was significant.
The trust had grown from that point, and by the end of the conversation, they were ready to make a large purchase.
Every detail had been covered, and communication had been excellent. They received their package on time and were ready to order more very soon.
They found that everyone had been consistently helpful, patient, and had explained things well. They expressed admiration for John Wade, particularly… He had assisted with questions and follow-ups whenever needed, going back as far as one year prior. Especially in that volatile market, they were glad to have like-minded folks on the same page.
Why aren’t There Many Legacy Precious Metals Complaints?
There aren’t many Legacy Precious Metals complaints for several reasons, despite the company having mixed ratings on different platforms. Here’s why you may not see widespread negative feedback:
Relatively New Company
- Legacy Precious Metals is a newer player in the precious metals industry compared to long-established firms like Golden Eagle Coins or Augusta Precious Metals.
- Because they haven’t been in business for decades, they haven’t accumulated as many reviews (both positive and negative) as older companies.
Niche Market with Targeted Clients
- The company focuses on precious metals IRAs, which appeal to a specific type of investor looking for long-term wealth preservation.
- Unlike retail-focused gold dealers, they don’t serve as many casual buyers, resulting in fewer overall transactions and, consequently, fewer complaints.
Strong Customer Support and Education
- Legacy Precious Metals promotes an education-first approach, meaning they provide extensive guidance to customers before they invest.
- Well-informed clients are less likely to experience misunderstandings or file complaints.
- Personalized service helps resolve concerns early, preventing escalation into public complaints.
No High-Pressure Sales Tactics
- Many precious metals firms receive complaints due to aggressive sales tactics.
- Legacy Precious Metals claims to avoid high-pressure sales and instead offers consultative investment guidance, leading to a more positive client experience.
Proactive Issue Resolution
- If a problem arises, the company may address concerns directly with the customer rather than letting them escalate into public complaints on BBB or Trustpilot.
- Many businesses work to resolve issues privately, reducing the number of visible negative reviews.
Fewer Transactions Compared to Larger Companies
- Large gold dealers process thousands of orders per month, leading to a higher likelihood of complaints.
- Legacy Precious Metals serves fewer clients, primarily long-term investors, meaning there are fewer chances for things to go wrong.
Buyback Guarantee Prevents Disputes
- Many gold IRA complaints involve difficulty selling back metals.
- Legacy Precious Metals offers a “no-questions-asked” buyback program, ensuring clients can liquidate their investments without hassle.
- This policy reduces frustrations and potential disputes.
Some Complaints May Not Be Publicly Visible
- Some companies encourage dissatisfied customers to contact them directly instead of posting complaints online.
- As a result, negative experiences may not always appear on platforms like BBB or Trustpilot.
Are There Any Legacy Precious Metals Lawsuits?
No.
We didn’t find any lawsuits involving this company.
Can You Trust Legacy Precious Metals? Is Legacy Precious Metals Legit?
Yes.
They are a legit gold IRA dealer with some of the most skilled people at its helm.
Whenever you’re curious about a company, simply follow these tips:
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.
Legacy Precious Metals Review Summary:
Overall, Legacy Gold IRA seems legit.
However, it’s always best to explore your options and consult a financial advisor.
What are your thoughts on this company? Let us know in the comments.
