Schiff Gold at a Glance
It’s no secret that precious metals are a huge commodity for many businesses that are involved with distributing materials. This is why many people look towards that resource to find ways to make products and services that can help them build a reputable business. Schiff Gold is a company that was established by an individual, Peter Schiff, who saw an opportunity and found a way to make a living for himself. It is important that any company that is coming up be examined in order to determine if it is reliable or not. This is mainly because some businesses aren’t reliable and simply want to make a quick buck from impressionable customers. Keep reading to learn more about this company and understand how true it is to those it serves.
How the Company Works
This company is rated 4 stars out of 5 and charges $180 per year in storage fees. Since it is a New York-based precious metal dealer, it provides a plethora of products that include bars, coins, and bullion. It is a full-service dealer so it provides a multitude of services for investors as well. The company had actually rebranded in October 2014 from its original name, Euro Pacific Precious Metals. Considering the fact that the business is owned by a well-known financial commentator and investment broker, Peter Schiff, it is built off of the idea that precious metals are an investment.
The business is set up in a way that allows it to only sell coins that are strong investments. All of the precious metals offered all have a simple liquidation and don’t involve any excessive markups. They have silver coins, platinum, palladium, etc. The prices are generally affordable and are guaranteed to be of high quality. Customers have to contact the company directly to speak with a precious metals specialist if they want to make a purchase. There are two ways you can speak with the company which includes live chat or phone. After you complete a briefing with a specialist, you will get assistance on which metals are best for you.
Prices and Payment Methods
When you get a grasp on what you want to purchase, it is time to place an order. You should promptly get an email that provides the information you need to move forward. This will include the overall cost, shipping, insurance, and payment instructions. You have to pay the full price during the time of payment and it has to be either a paper check or bank wire transfer. The company waits five business days to process a paper check. If you choose to use the bank wire method, keep in mind that it takes the company about one day to process the payment.
Shipping usually takes anywhere between two to four business days. Once you successfully complete your order, the company will ship your products in either three ways: FedEx, UPS, or USPS. There is no need to worry about your shipment because it is protected through insurance.
A bonus way you can purchase precious metals through this company is by using cryptocurrency. This is a new way that many innovative companies are accepting payments because it is secure and fast. Cryptocurrency has been accepted there since 2014 and it is actually one of the first precious metals companies to accept that payment method. If you want to go this route, you will have to follow three steps: call in to speak with a specialist, send your payment, keep track of your order. It is important that you know that when you are ready to pay for your order, you will only have 15 minutes to make a purchase through BitPay. You will have to have a BitPay compatible wallet and must follow the directions while you are on the phone with your broker. You will receive a confirmation after the order is complete and can use the tracking information provided to get all of the needed updates on your order.
Besides making a purchase, you can also sell any precious metals you have on hand. It doesn’t matter if they are from another company or from the same company. Some companies do not allow you to do that so this can be appealing to you if you can’t find it anywhere else. All you have to do is refer to the company’s website and start the process. Once you contact the phone number, live chat, or email provided, an employee will provide you with clear instructions on how to sell your metals.
The drop-off process can be in person or by shipping your metals. Metals can be dropped off in the following locations: New York, Los Angeles, Toronto, Dallas, Singapore, Delaware, Las Vegas, and Zurich. You will be paid in the form of a paper check or bank wire once your metals are received. This company also offers other services such as vault storage, safe storage, Gold IRA Rollovers, and employment.
Pros
Some positive aspects of this company include the fact that the prices of the metals are relatively low and the website is full of educational material. It is helpful to have access to affordable metals when you are on a budget and need something that will save you money. You also get a bang for your buck because the metals are high quality and you will be able to invest in a company that is run by an individual educated in the field of investing and precious metals. You can even potentially find a job opportunity if you are looking for one.
Cons
On the other hand, there aren’t any ratings that are associated with this company yet. This puts it at a disadvantage because ratings help customers get an understanding of a company’s performance and reputation. Along with that, some information isn’t accessible to the public so that can be a bit concerning for those who are looking for more information.
Scam or Not?
At the end of the day, Schiff Gold is not a scam because it successfully serves customers in an honest way. The metals are high quality but are still affordable. The website is full of reliable information that can help customers get a deeper understanding of the industry. It is also lead by a reputable author and investor who is well educated in the area of precious metals.