The Truman Company: Unique Highlights Overview
The Truman Company Gold & Silver, based in Roseville, Minnesota, distinguishes itself in the precious metals industry through several unique highlights:
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Exclusive Precious Metal Products
- Silver Truman Round: The company offers a proprietary 1 oz .9999 fine Silver Truman Round, showcasing exceptional craftsmanship and providing a unique investment opportunity for collectors and investors.
- Diverse Gold and Silver Bullion: Their inventory includes popular items such as American Gold Eagles, Canadian Gold Maple Leafs, and South African Krugerrands, catering to a wide range of investment preferences.
Comprehensive Appraisal and Market Placement Services
- Free Coin Appraisals: The Truman Company provides complimentary coin appraisal services, leveraging over 40 years of experience in coin grading and evaluation to assist clients in understanding the value of their collections.
- Market Placement Assistance: They offer guidance on restructuring investment portfolios, particularly for clients holding coins that may have depreciated, helping investors navigate market fluctuations effectively.
Secure Storage and Shipping Solutions
- Insured Shipments: To ensure client peace of mind, The Truman Company insures all shipments through Lloyd’s of London, covering up to $75,000 per package and $450,000 per shipment, safeguarding valuable investments during transit.
- Secure Storage Facilities: They provide secure storage options for precious metals, utilizing state-of-the-art security measures to protect client assets.
Educational Resources and Personalized Customer Support
- Client-Centric Approach: With over 35 years of experience, owner Roger Westerling and his team prioritize personalized service, offering tailored advice to both novice and seasoned investors.
- Educational Guidance: The company emphasizes educating clients about the precious metals market, providing insights that empower informed investment decisions.
Transparent and Competitive Pricing
- Clear Fee Structure: The Truman Company is known for its transparent pricing, aligning with current market rates and ensuring clients are aware of all costs involved in transactions, fostering trust and confidence.
Online Accessibility and User-Friendly Experience
- Modern Website Interface: Their website offers an intuitive layout, detailed product descriptions, and secure transaction features, enhancing the online purchasing experience for clients.
- Responsive Online Support: The company provides prompt responses to online inquiries, ensuring clients receive timely assistance and detailed quotes as needed.
These unique highlights underscore The Truman Company’s dedication to quality, security, and customer satisfaction in the precious metals industry.
Who are the People Behind The Truman Company?
The Truman Company, based in Roseville, Minnesota, is a precious metals dealer specializing in bullion coins, bars, and rare coins. The company was founded by Roger Westerling, who serves as its owner and primary representative. Westerling claims over 35 years of experience in the precious metals industry, a background he attributes to early mentorship from his Uncle Truman.
Beyond Westerling, specific details about other team members or the broader management structure are not publicly disclosed.
Prospective investors might find it beneficial to conduct further research or consult additional sources when evaluating The Truman Company’s offerings and leadership.
Does The Truman Company Offer IRA Services?
Yes, The Truman Company offers services to help clients incorporate precious metals into self-directed Individual Retirement Accounts (IRAs). Here’s an overview of how their process works:
Establishing a Self-Directed IRA:
- Account Setup: The Truman Company assists clients in setting up a self-directed IRA, which allows for investments in alternative assets like precious metals.
- Funding the Account: Clients can fund their new IRA through contributions, transfers, or rollovers from existing retirement accounts.
Selecting Precious Metals:
- Eligible Metals: The IRS permits certain forms of precious metals—gold, silver, platinum, and palladium—to be held in IRAs, provided they meet specific fineness standards.
- Product Selection: The Truman Company offers a range of IRS-approved bullion and coins for inclusion in your IRA.
Purchasing and Storage:
- Transaction Execution: Once you’ve selected your desired metals, The Truman Company facilitates the purchase within your IRA.
- Secure Storage: IRS regulations require that precious metals in IRAs be stored in approved depositories. The Truman Company coordinates with these facilities to ensure compliance and security.
Ongoing Management:
- Portfolio Monitoring: Clients have the flexibility to adjust their holdings within the IRA without immediate tax implications, allowing for strategic responses to market changes.
- Reporting: The Truman Company provides online account access, enabling clients to monitor their investments and account performance.
Advantages of a Self-Directed IRA with The Truman Company:
- Tax Benefits: Investments grow tax-deferred or tax-free, depending on the IRA type.
- Diversification: Including precious metals can enhance portfolio diversification and act as a hedge against economic volatility.
- Expert Guidance: With over 35 years of experience, The Truman Company offers knowledgeable support throughout the investment process.
Considerations:
- Fees: While specific fees are not detailed on their website, it’s important to inquire about account setup, storage, and transaction costs.
- Market Risks: As with all investments, precious metals can experience price fluctuations.
What Products Can You Purchase at The Truman Company?
The Truman Company, based in Roseville, Minnesota, offers a diverse range of precious metal products catering to both investors and collectors. Their inventory includes:
Gold Products:
– American Gold Eagles: Available in various denominations, including 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz.
– Canadian Gold Maple Leafs: Offered in 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz sizes.
– South African Gold Krugerrands: Available in multiple denominations.
– Gold Bars: Ranging from 1 gram to 1 oz, with options like 1 gram, 2.5 gram, 5 gram, 10 gram, 20 gram, and 1 oz .999 fine gold bars.
Silver Products:
– 1 oz .9999 Fine Silver Truman Round: A unique offering from The Truman Company.
– American Silver Eagles: Renowned 1 oz silver coins popular among investors and collectors.
– Silver Bars: Including 10 oz and 1 kilo .999 fine silver bars.
Platinum and Palladium Products:
– Platinum Bars: 1 oz .999 fine platinum bars.
– Palladium Bars: 1 oz .999 fine palladium bars.
Rare and Numismatic Coins:
– The Truman Company also deals in old, rare, foreign, and numismatic coins, offering a selection that appeals to collectors seeking unique and historically significant pieces.
The Truman Company Fees and Pricing:
The Truman Company, based in Roseville, Minnesota, specializes in buying and selling precious metals, including gold, silver, platinum, and palladium. Understanding their fee structure is essential for potential clients. Here’s a detailed overview:
1. Purchasing Precious Metals:
- Product Pricing: The Truman Company offers a range of products, such as bullion coins, bars, and rare coins. While specific product prices are not listed on their website, they align with current market rates. Clients are encouraged to contact the company directly to obtain up-to-date pricing information.
- Payment Methods and Associated Fees:
- Checks: Accepted as payment; however, products are held for 10 business days before shipment to ensure the check clears.
- Credit Cards: Accepted with an additional 4% fee applied to the total purchase amount.
2. Selling Precious Metals to The Truman Company:
- Appraisals: The company offers free coin appraisals. Clients can bring their items to the Roseville location without an appointment during business hours (Monday through Friday, 10 am–5 pm).
- Sales Process:
- Lock-In Price: Clients can secure a sales price by calling 1-877-334-4990 to speak with a Precious Metal Expert.
- Shipping: The Truman Company provides FedEx shipping boxes at their expense and covers shipping costs using their FedEx account number.
- Payment: Upon receipt and verification of the items, the company issues payment promptly, often on the same day.
3. Trading Precious Metals:
- Trading Process:
- Initiation: Clients can initiate a trade by contacting the company to lock in the trade details.
- Shipping: Similar to the selling process, the company provides shipping materials and covers shipping costs.
- Execution: Once the items are received and verified, The Truman Company coordinates the delivery of the new precious metals to the client.
4. Storage and Security:
- Shipping Insurance: All shipments are insured through Lloyd’s of London for up to $75,000 per package, with a maximum of $450,000 per shipment, ensuring client assets are protected during transit.
5. Transparency and Additional Considerations:
- Fee Disclosure: While The Truman Company provides some information regarding payment method fees (e.g., the 4% credit card fee), other potential fees, such as those related to storage, account setup, or specific transactions, are not explicitly detailed on their website.
- Recommendation: Prospective clients should directly contact The Truman Company to inquire about any additional fees or charges associated with their services to ensure full transparency and informed decision-making.
What Do The Truman Company Reviews Say?
The Truman Company, a precious metals dealer based in Roseville, Minnesota, has limited but generally positive online ratings across various platforms. Here’s a summary of their ratings:
Better Business Bureau (BBB):
- Accreditation: The Truman Company has been accredited by the BBB since March 22, 2010, and holds an A+ rating.
- Customer Reviews: The company has an average rating of 5 out of 5 stars based on 2 customer reviews.
- Customer Complaints: There has been 1 complaint closed in the last 3 years, with none in the past 12 months.
Yelp:
- Customer Reviews: The Truman Company has 2 reviews on Yelp, both of which are positive. citeturn0search6
Google Reviews:
- Customer Reviews: As of the latest available information, there are no Google reviews for The Truman Company.
While The Truman Company maintains high ratings on platforms like the BBB and Yelp, the overall number of reviews is relatively low. This limited online presence makes it challenging to comprehensively assess customer satisfaction and company performance.
Why aren’t There Many Truman Company Complaints?
The relative lack of complaints about The Truman Company can be attributed to a combination of positive factors and structural characteristics of the business. Here’s an analysis:
Positive Factors
- Good Customer Service:
- Knowledgeable Staff: The Truman Company is frequently praised for its expertise and professionalism in handling customer inquiries and transactions.
- Responsive Support: Prompt resolution of issues often prevents grievances from escalating into formal complaints or online reviews.
- Smaller, Loyal Client Base:
- The company operates as a niche player in the precious metals market, catering to a specific demographic of investors and collectors.
- A smaller customer base often translates to fewer interactions and, consequently, fewer opportunities for negative experiences.
- Trust and Transparency:
- Reputation: The Truman Company has been in the industry for over 35 years and has built a reputation for reliability.
- Personalized Approach: A focus on free appraisals, straightforward pricing, and no-pressure sales can lead to greater client satisfaction.
- Proactive Problem Resolution:
- The company may handle issues directly with clients, preventing disputes from becoming public.
- Offering free shipping and insurance for transactions likely alleviates common concerns.
Structural Factors
- Exclusive Clientele:
- Focus on Collectors and Investors: The company deals with knowledgeable clients who are less likely to raise issues about market fluctuations or product expectations.
- Efficient Handling of Complaints:
- An A+ rating from the Better Business Bureau (BBB) indicates the company is effective at resolving complaints before they become public.
- Fewer unresolved complaints might discourage dissatisfied customers from pursuing further action.
- Low Transaction Volume: A boutique dealer like The Truman Company may have fewer transactions than larger competitors, which naturally limits the number of potential complaints.
- Limited Marketing Reach: The company may not attract high numbers of new clients, which could result in fewer opportunities for disputes.
The lack of complaints likely reflects a combination of good business practices, a focus on a smaller and satisfied customer base, and limited online exposure. While this is a positive sign, it’s important for potential clients to conduct their own due diligence, including direct inquiries about fees, policies, and services.
Would you like help exploring more about their services or comparing them to competitors?
Are There Any The Truman Company Lawsuits?
No.
There aren’t any lawsuits involving this gold dealer.
Can You Trust The Truman Company? Is The Truman Company Legit?
Yes.
They are a legit company with significant experience in helping people invest in precious metals.
Whenever you’re curious about a gold dealer, keep the following tips in mind:
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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The Truman Company Review Summary:
Overall, Truman Company Gold and Silver is a reliable precious metals company.
They have been in the industry for quite a while and enjoy a positive reputation.
What are your thoughts? Let us know in the comments.
