Monument Metals stands out in the precious metals industry due to its customer-centric approach, competitive pricing, and diverse product offerings. Here’s what makes the company unique:
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1. Competitive Pricing
Monument Metals is renowned for its low premiums on precious metals, offering some of the most competitive prices in the industry. This is achieved through:
- Low Overhead: Operating with lean business practices to pass savings onto customers.
- Direct Sourcing: Acquiring products directly from mints and refiners to reduce middleman costs.
- Wholesale Expertise: The company initially operated as a wholesale dealer, providing them with in-depth market insights and pricing strategies.
2. Diverse Product Selection
Monument Metals offers a broad range of precious metal products catering to investors and collectors alike:
- Bullion Coins: Popular options like American Gold Eagles, Canadian Gold Maple Leafs, and Silver Eagles.
- Bars: Gold, silver, platinum, and palladium bars in various weights.
- Pre-1933 Gold Coins: Collectible coins with historical value.
- Junk Silver: U.S. silver coins, an affordable entry point for investors.
- Numismatic Coins: Rare and collectible items for those interested in historical significance.
This variety ensures that customers with different goals—whether wealth preservation or collecting—can find suitable products.
3. No Hidden Fees
Monument Metals emphasizes transparency in pricing and avoids hidden fees. Customers pay the listed price without surprises, fostering trust and loyalty.
4. Free Shipping Threshold
The company offers free shipping on orders exceeding $199, a policy that enhances value for customers, especially for larger purchases.
5. Wholesale Roots
Having transitioned from the wholesale market to direct consumer sales, Monument Metals leverages its wholesale expertise to offer bulk discounts and competitive pricing, benefiting high-volume buyers.
Additional Unique Highlights:
Monument Metals prioritizes excellent customer service, evident in:
- Educational Resources: Informative blog posts, FAQs, and guides to help new investors understand precious metals.
- Personalized Assistance: Representatives are available to guide customers through the buying process and answer questions.
- Focus on Beginners and Collectors: The company caters to individuals at all experience levels, providing tailored recommendations and support.
Every product sold by Monument Metals is guaranteed authentic and sourced from reputable mints and suppliers, ensuring quality and customer confidence.
Monument Metals consistently receives high ratings for reliability, product quality, and service, making it a trusted name in the industry.
Customers can pay via multiple methods, including:
- ACH transfers
- Bank wires
- Credit cards
This flexibility ensures that clients can choose the payment option that best suits their needs.
Orders are processed and shipped promptly, with customers often praising the speed and care with which their products are delivered.
Who are the People Behind Monument Metals?
Monument Metals is a prominent precious metals dealer specializing in gold, silver, platinum, and palladium products. The company’s leadership comprises industry veterans with nearly three decades of combined experience in numismatics and bullion trading. Initially focused on the wholesale market, the principals transitioned to serving the general public in 2014, aiming to provide competitive pricing and a customer-centric approach.
The executive team includes:
- Daniel Lee, Chief Financial Officer: Oversees the company’s financial operations, ensuring fiscal responsibility and strategic growth.
- Giselle Sicle, Chief Operating Officer: Manages daily operations, focusing on efficiency and customer satisfaction.
- Ivan Williams, Public Relations Specialist: Handles the company’s public image and communications, fostering positive relationships with clients and the media.
Under this leadership, Monument Metals emphasizes effective purchasing strategies, operational efficiency, and low overhead to offer competitive pricing to its customers. The company’s commitment to transparency and customer service has established it as a trusted source for precious metals investments.
Does Monument Metals Offer IRA Services?
Monument Metals does not directly offer Gold IRA (Individual Retirement Account) services. However, they provide IRA-eligible precious metals and can assist customers in setting up a self-directed IRA through a third-party custodian.
How a Gold IRA with Monument Metals Works:
- Select a Custodian: Since Monument Metals doesn’t act as an IRA custodian, you’ll need to choose a self-directed IRA custodian who specializes in precious metals IRAs. Monument Metals can recommend reputable custodians to assist you in this process.
- Open a Self-Directed IRA Account: Once you’ve selected a custodian, you’ll open a self-directed IRA account with them. This involves completing the necessary paperwork and ensuring the account is set up to hold precious metals.
- Fund Your IRA: You can fund your new IRA by rolling over or transferring funds from an existing retirement account, such as a 401(k) or another IRA. Your chosen custodian will guide you through this process to ensure compliance with IRS regulations.
- Select IRA-Approved Precious Metals: Monument Metals offers a range of IRA-approved gold, silver, platinum, and palladium products that meet IRS standards for purity and eligibility. You can browse their selection to choose the specific products you’d like to include in your IRA.
- Purchase and Transfer Metals: After selecting your desired precious metals, you’ll instruct your custodian to purchase the metals from Monument Metals using the funds in your self-directed IRA. The purchased metals will then be transferred to an IRS-approved depository for secure storage, as IRS regulations prohibit storing IRA-owned precious metals at home.
- Storage and Reporting: The depository will securely store your metals, and your custodian will provide regular statements detailing the holdings and performance of your precious metals IRA.
It’s important to note that while Monument Metals facilitates the acquisition of IRA-eligible metals and can recommend custodians, they do not manage the IRA accounts themselves. Additionally, setting up a precious metals IRA may involve initial setup fees, annual administration fees, and storage fees, which vary depending on the chosen custodian and depository.
What Products Can You Purchase at Monument Metals?
Monument Metals offers a diverse selection of high-quality precious metal products, catering to both investors and collectors. Here’s a detailed breakdown of their product categories and specific offerings:
1. Gold Products
Monument Metals provides a wide range of gold bullion products, including coins, bars, and IRA-eligible options.
Gold Coins
- American Gold Eagle: One of the most popular gold bullion coins, available in sizes from 1/10 oz to 1 oz.
- American Gold Buffalo: Known for its .9999 fine gold purity, a favorite among investors.
- Canadian Gold Maple Leaf: Features .9999 fine gold and an iconic maple leaf design.
- South African Krugerrand: A globally recognized gold coin with a mix of gold and copper for durability.
- Austrian Gold Philharmonic: Celebrated for its musical-themed design and .9999 fine gold purity.
- Pre-1933 U.S. Gold Coins: Historical coins like the $20 Saint-Gaudens and $10 Indian Head, prized by collectors for their rarity and beauty.
Gold Bars
- Offered in various weights (1 gram to 1 kilogram).
- Products from reputable refineries like PAMP Suisse, Credit Suisse, and Valcambi.
- Many bars include anti-counterfeiting features such as serial numbers or Assay certificates.
Gold Rounds
- Non-currency gold products, often with unique designs, providing a lower-cost alternative to coins.
IRA-Eligible Gold
- Monument Metals offers gold products that meet IRS purity standards (.995 or higher) for inclusion in self-directed IRAs.
2. Silver Products
Silver is another core offering, with options ranging from bullion to collectible pieces.
Silver Coins
- American Silver Eagle: The most sought-after silver coin in the U.S., made from .999 fine silver.
- Canadian Silver Maple Leaf: Known for its .9999 fine silver purity and security features.
- Austrian Silver Philharmonic: Elegant design and high purity.
- British Silver Britannia: Features advanced security designs and .999 fine silver.
- Junk Silver: Pre-1965 U.S. coins (dimes, quarters, and half-dollars) with 90% silver content, valued for affordability and recognizability.
Silver Bars
- Available in sizes from 1 oz to 100 oz.
- Products from mints like Engelhard, Sunshine Minting, and Royal Canadian Mint.
- Popular among investors looking to purchase silver in bulk.
Silver Rounds
- Available in .999 fine silver.
- Designs range from generic bullion to themed and collectible pieces.
IRA-Eligible Silver
- Includes coins and bars that meet IRS standards (.999 purity or higher) for inclusion in IRAs.
3. Platinum Products
Monument Metals offers platinum for investors seeking diversification beyond gold and silver.
Platinum Coins
- American Platinum Eagle: The only platinum bullion coin issued by the U.S. Mint, made from .9995 fine platinum.
- Canadian Platinum Maple Leaf: Renowned for its purity and security features.
Platinum Bars
- Sizes range from 1 gram to 10 oz.
- Produced by trusted refiners such as PAMP Suisse and Valcambi.
4. Palladium Products
Though less common than gold and silver, palladium is available for investors looking to diversify.
Palladium Coins
- Canadian Palladium Maple Leaf: One of the few palladium bullion coins in the market.
Palladium Bars
- Typically .9995 fine palladium, available from leading refiners.
5. Numismatic and Collectible Coins
For collectors, Monument Metals offers a curated selection of rare and historical coins.
Pre-1933 U.S. Coins
- $20 Saint-Gaudens Double Eagles, $10 Indian Heads, and $5 Half Eagles.
- Known for their historical significance and collectible value.
Specialty Coins
- Commemorative coins and limited-edition releases with intricate designs.
- Proof coins for collectors who value superior craftsmanship.
6. Junk Silver (90% Silver Coins)
- Pre-1965 U.S. dimes, quarters, and half-dollars containing 90% silver.
- Popular for their low premiums and recognizability.
- Available in face value increments (e.g., $1, $10, or $100 bags).
7. IRA-Eligible Products
Monument Metals offers a robust selection of products that comply with IRS standards for self-directed IRAs:
- Gold coins and bars with .995+ purity.
- Silver coins and bars with .999+ purity.
- Platinum and palladium products with .9995 purity.
8. Specialty and Themed Rounds
- Custom-designed silver and gold rounds with unique themes like holidays, historical events, and patriotic motifs.
9. Supplies and Accessories
- Coin capsules, storage tubes, and protective packaging to safeguard precious metals.
- Books and guides for collectors and investors.
Monument Metals Fees and Pricing:
Monument Metals is known for its transparent pricing and commitment to avoiding hidden fees. Here’s a detailed breakdown of their fee structure and policies:
Product Pricing
Monument Metals uses an all-inclusive pricing model for their products. This means:
- The prices listed on their website include premiums over the current spot price of the metal.
- There are no hidden markups or surprise charges beyond the listed price.
Their competitive pricing is achieved by sourcing directly from mints and refiners, keeping overhead costs low.
Payment Processing Fees
- Bank Wire and ACH Payments: No additional fees.
- Credit/Debit Cards or PayPal: Typically incurs a 3-4% processing fee. This is standard across the industry due to higher transaction costs associated with these payment methods.
Shipping Fees
Monument Metals has a straightforward shipping policy:
- Free Shipping: On orders over $199, customers qualify for free shipping within the U.S.
- Orders Below $199: A flat shipping fee is charged, which varies based on the order size and shipping destination (typically around $6.95).
- Expedited Shipping: Additional fees apply for priority or express delivery.
All shipments are fully insured, and the costs are included in the shipping fees.
Sales Tax
- Applicable on Certain Products: Sales tax may be charged on orders shipped to states where such taxes apply, depending on local regulations.
- Tax-Exempt Orders: Many precious metal products are exempt from sales tax in certain states. Monument Metals provides clarity on tax requirements during checkout.
Storage and IRA Fees
- Monument Metals does not directly charge storage fees or IRA custodial fees as they do not act as an IRA custodian.
- If you choose to purchase IRA-eligible metals and store them through a third-party custodian or depository, you’ll incur storage and maintenance fees charged by the custodian, not Monument Metals.
Do They Charge Hidden Fees?
No, Monument Metals prides itself on transparency. There are no hidden fees or surprise charges when purchasing from them. The prices and policies are clearly communicated during the buying process, ensuring customers are fully informed before completing their transactions.
What Do Monument Metals Reviews Say?
Monument Metals has garnered a strong reputation in the precious metals industry, reflected in numerous positive customer reviews and high ratings across various platforms.
Trustpilot
On Trustpilot, Monument Metals holds an impressive rating of 4.7 out of 5, based on over 1,000 reviews. Customers frequently praise the company for its competitive pricing, prompt shipping, and exceptional customer service. Many reviewers highlight the ease of transactions and the quality of products received.
Better Business Bureau (BBB)
Monument Metals is accredited by the BBB and maintains an A+ rating, the highest possible. This accreditation reflects the company’s commitment to resolving customer complaints and maintaining transparency in business practices.
Customer Feedback Highlights
- Competitive Pricing: Customers appreciate the fair pricing closely aligned with the spot price of precious metals, ensuring value for their investments.
- Fast Shipping: Many reviews commend the company for prompt and secure delivery, with products often arriving ahead of schedule.
- Exceptional Customer Service: The professionalism and responsiveness of Monument Metals’ support team are frequently highlighted, with customers noting helpful assistance throughout the purchasing process.
- Product Quality: Reviewers consistently report satisfaction with the authenticity and condition of the precious metals and collectibles purchased.
Areas for Improvement
While the majority of feedback is positive, some customers have noted areas where Monument Metals could enhance the customer experience:
- Website Transparency: A few reviewers suggest that providing more detailed information about the company’s history and leadership on the website could enhance transparency and build further trust.
- IRA Information: Some customers have expressed a desire for clearer guidance on IRA-eligible products and associated fees, which would assist investors looking to include precious metals in their retirement portfolios.
Examples of Monument Metals Reviews:
He ordered 9 oz of silver coins and rounds during one of Monument Metal’s “spot price” sales. Often, sellers sent out their slightly imperfect items, featuring minor dings and milk spots. Every item that Monument Metals had sent him was perfect. They received them in two days.
They were super excited to order from them. They had canceled the order without notifying him. He informed them that he was a new customer and did not even attempt to retain his business.
They were informed that the only way to place an order was by phone, and they could not even make a payment through their checking account because it had been flagged as fraud. They were unable to provide the exact reason for the decline.
They were really impressed with the response from them. They managed to resolve the order issue, and the CFO personally called to ensure there were no further problems.
The site was easy to navigate. He had found the two items he was interested in, which had the best deals available online. The payment had been approved in a timely manner, and the products were shipped promptly and discreetly. They were extremely happy with them overall and planned to use them for plenty more orders in the future.
They had defiantly recommended Monument Metals, as they had purchased from them many times before. They had always received the best service and the best prices. There was also an incident where an order was lost in the mailing system, and after some time of waiting, it was decided to send a new order without waiting for the recovery of the lost package.
He purchased a 1 oz. gold coin on November 1st via ACH. Although the payment cleared the next day, they delayed sending it out until a week later, which resulted in the shipment being sent over a holiday weekend. The upshot was that it had been misdelivered by USPS, and now they were out over 2 grand. He felt a sense of disappointment, to say the least.
For God’s sake, they did not deal with that mess. They obtained their metals from a local dealer.
Update: Although she was supposed to sign for the delivery, instead USPS left it in her mailbox—though they said she signed, she did not. MM complied with the stated procedures. Sorry for doubting them-they had always been reliable before.
Why aren’t There Many Monument Metals Complaints?
There are relatively few complaints about Monument Metals because the company operates with a strong focus on customer satisfaction, transparency, and quality. Here’s why Monument Metals maintains a largely positive reputation with minimal complaints:
1. Transparent Pricing and Policies
Monument Metals avoids hidden fees or surprise charges, a common source of dissatisfaction with some competitors. Their transparent pricing ensures that customers know exactly what they’re paying for, fostering trust and reducing misunderstandings.
2. High-Quality Products
The company guarantees the authenticity and quality of all its products, which are sourced from reputable mints and refineries. Customers consistently receive items that meet or exceed their expectations, leaving little room for complaints about product quality.
3. Competitive Pricing
Monument Metals offers some of the most competitive premiums in the industry, ensuring customers feel they are getting good value for their investments. Fair pricing reduces customer frustration and enhances satisfaction.
4. Reliable Shipping and Secure Packaging
Many complaints in the precious metals industry stem from delays or damaged shipments. Monument Metals excels in this area by:
- Offering free shipping for orders over $199.
- Ensuring timely delivery with secure and insured packaging.
This level of care minimizes shipping-related issues.
5. Responsive Customer Service
Monument Metals is praised for its knowledgeable and accessible customer service team. By addressing questions and concerns promptly and professionally, they prevent issues from escalating into complaints.
6. Simple, User-Friendly Processes
The company’s straightforward purchasing process and user-friendly website make it easy for customers to buy precious metals without complications. A hassle-free experience reduces potential dissatisfaction.
7. Focus on Customer Education
Monument Metals provides educational resources to help customers make informed decisions. By setting realistic expectations about pricing, market fluctuations, and the nature of precious metals investments, they reduce the likelihood of buyer remorse or confusion.
8. Trust and Credibility
With an A+ rating from the Better Business Bureau (BBB) and positive reviews across platforms like Trustpilot, Monument Metals has established itself as a credible and trustworthy dealer. Their clean legal record further solidifies their reputation.
9. Strong Commitment to Problem Resolution
If issues do arise, Monument Metals actively works to resolve them. Their proactive approach to addressing concerns ensures customer satisfaction and prevents negative experiences from becoming formal complaints.
Are There Any Monument Metals Lawsuits?
As of the current available information, there are no public records or reports indicating any lawsuits involving Monument Metals.
This clean legal record and positive customer feedback suggest that Monument Metals operates with integrity and a commitment to customer satisfaction. However, it’s always prudent for potential customers to conduct their own research and due diligence before engaging in any financial transactions.
Can You Trust Monument Metals? Is Monument Metals Legit?
Yes.
Monument Metals is a legit company.
The company maintains a strong reputation in the precious metals industry, with high ratings and positive reviews from customers. For instance, Monument Metals holds an A+ rating from the Better Business Bureau (BBB) and has received favorable feedback on platforms like Trustpilot.
However, it’s always best to check the legal history of a company before making any final decisions. Here are some 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.
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Monument Metals Review Summary:
Overall, Monument Metals seems to be a great option for anyone looking to buy precious metals.
They have a large selection of bullion products to offer.
Furthermore, the company enjoys a positive reputation among customers with an A+ rating on BBB. Certainly, Monument Metals has succeeded at keeping their customers happy.
What are your thoughts on Monument Metals? Let us know in the comments below!
