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Investing in stocks and bonds is just the start of building your portfolio. Over time, you'll purchase assets such as real estate or artwork to increase your portfolio's value.
However, precious metals present far more promise in adding value to your portfolio and offering stability. Investing in precious metals diversifies investment accounts and secures wealth for the future.
Accurate Precious Metals is a precious metals dealer offering investors many products. Reviewing how they do business and everything they offer lets you make a well-informed decision when selecting a gold dealer.
Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?
That is why we have researched every company in the industry and selected the very few with the highest customer service standards.
This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.
Read the list to see if Accurate Precious Metals passed our strict customer service standards to become one of our top recommendations.
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A Little About Their History
Accurate Precious Metals is a family-owned and operated organization that started in 2009. The company buys and sells precious metals and has a complete inventory of custom diamond jewelry.
They conduct business via their website and in their Oregon locations. According to their claims, the business uses testing and scales that offer accurate readings for weight and purity. As a result, many customers provide positive reviews about the company, its workers, and its products.
Buy Gold or Silver Bullion
Investors buy gold and silver bullion to increase the value of their portfolios. If you want to buy gold or silver bullion outright, request a quote from Accurate Precious Metals for these selections.
While they do not list all bullion available, a customer service representative can provide details, or you could visit their physical location to review their inventory first-hand.
Unlike some gold dealers, Accurate Precious Metals doesn't have a minimum purchase amount or any reserves you must meet.
Because they don't require a minimum purchase, many customers who do not have excessive upfront capital to invest in precious metals can get started according to their budgetary constraints.
Shop Their Online Jewelry Store
Accurate Precious Metals offers a complete jewelry store with custom and unique jewelry. They claim to provide pieces at 70% off the retail price. However, comparing prices among jewelers may present some price variants.
For example, the jewelry brand affects the retail and resell value of the jewelry. Keep this in mind when investing in gold, silver, or diamond jewelry.
If you are new to jewelry investing, there is a helpful guide on the Accurate Precious Metals website with details about carat size, style, and clarity.
A portion of their inventory includes custom-made jewelry. For example, high-end jewelers create custom-made engagement rings and wedding sets to increase value and cater to customer preferences.
As you browse their jewelry store, you'll find images of each piece with a brief description of each item. In addition, they have clear pictures and provide important information such as ring sizes, chain lengths, and carat sizes.
They Buy Your Precious Metals, Jewelry, and Diamonds
Accurate Precious Metals buys silver and gold in various forms, and you could even sell your broken and scrap metal to them. First, you must request a free appraisal kit and wait for it to arrive. Then, you'll place all the gold or silver you want to sell into the package and ship it to Accurate Precious Metals.
Once they receive the package, the customer service representatives weigh and inspect the items. After they complete the assessment, a customer service representative calls you with a cash offer.
You must accept or refuse the offer. If you accept, you'll make payment arrangements. For example, you could receive a check in the mail or arrange a direct deposit into your checking account.
If you disagree with the offer, you refuse it, and Accurate Precious Metals returns your complete package to your return address.
Many factors affect the price quote you receive, including the weight, purity, and market price of your precious metals. Checking the current prices based on weight, purity, and market price helps ensure you get the highest cash payment for your precious metals through Accurate Precious Metals.
Since prices change daily, checking the current rate helps determine if the gold company presents a fair price or rips you off. Gold or silver jewelry with diamonds could increase the payout depending on the current market rate for diamonds. As you review market prices, consider diamond prices, too.
According to customer reviews, the staff is friendly and down-to-earth, and many clients have received more than the current market price for their precious metals.
However, most reviews are from local customers with a long-standing relationship with Accurate Precious Metals. Therefore, requesting a quote may present you with information to make your assessment of the business and how fair their prices are.
Setting Up an IRA
Retirement plans offer distributions throughout your golden years, and how much you save determines what lifestyle you afford after you stop working.
Employers match your contributions in traditional 401(k) IRA accounts, but these plans, like others, depend on the current value of the US dollar and the impact of inflation.
For many investors, cash-based IRA plans may have provided adequate cash ten years ago, but with ever-changing financial climates, today's retirees may face more retirement burdens.
Investing in a gold or silver IRA could present more answers and security for the future. Accurate Precious Metals offers self-directed gold or silver IRAs for investors. If you want to open an account, you must contact them directly to discuss your options.
They have a webform for you to complete to request a guide for their IRAs, and once you've finished and submitted it, a customer service representative contacts you.
Before you open the IRA, your first step is hiring an IRS-approved custodian to manage the account and storage for your precious metals. Do your homework and screens custodians diligently; only hire someone you trust.
Next, decide how to fund the new IRA. You can use cash to buy bullion for the IRA or transfer funds from an employer-matched retirement plan or ROTH IRA.
Contact your custodian to start the account and buy the bullion if you use cash. Alternatively, your custodian must contact your IRA provider to transfer funds from an existing IRA to the new account.
Your custodian discusses how much bullion, its type, and quantity you want to buy with representatives at Accurate Precious Metals. Then, the custodian transfers the retirement funds to the gold seller and arranges delivery to a depository.
You must choose a depository to store your precious metals as you aren't permitted to store them anywhere else since they are part of the IRA. In addition, there is a 60-day deadline to transfer IRA funds, which leads to tax penalties if you miss it, and you lose a portion of the retirement funds to the IRS.
Adding More to the Precious Metals IRA
Establishing a precious metals IRA through Accurate Precious Metals diversifies your investment portfolio. Still, you have zero obligations to the gold company if you want to add more precious metals to your IRA later. However, if you choose to, you can purchase more bullion from Accurate Precious Metals via your custodian based on IRS guidelines.
IRAs have contribution restrictions if you are under 59. The total amount you can add to your IRA is $6,000 yearly. However, if you are 60, you can add up to $7,000 to the account.
After completing the transaction, the gold or silver prices won't affect your total contribution amount if you add the metals within 24 hours.
When buying precious metals, especially for an IRA, request a price lock to avoid delays and issues. Without price locking, the bullion prices could increase and cost you more initially, or the prices could decrease and generate a loss.
Price locking requires a commitment to buy from Accurate Precious Metals, and you must complete the transaction once it starts. Your custodian completes a wire transfer to send the funds to Accurate Precious Metals after you agree to the price quote.
If you commit to buy and change your mind, you face penalties and fees. You must pay Accurate Precious Metals for any financial losses they incur due to your actions.
For example, if the bullion price decreases, you must pay the price difference since they couldn't sell it at the quoted rate. Keep this in mind before you commit to a purchase and avoid penalties whenever possible.
Securing a Pawn Loan
Accurate Precious Metals offers pawn loans for jewelry and watches. Unfortunately, pawn loans aren't available to online customers as the company restricts them to local Oregon customers only.
To get a local pawn loan, visit one of their physical stores and wait for a quote. The loan amount reflects the market value of the item minus fees and potential resell profits if you default on the loan.
Pawn loans have a higher-than-average interest rate since Accurate Precious Metals is not a traditional lender. They do not conduct a credit check to qualify you for the pawn loan, and your jewelry remains in their possession until you pay the last installment paying off your loan.
All collateral for pawn loans remains in a secure vault, and the company provides insurance for the pieces; if they are lost, stolen, or damaged, they file an insurance claim.
Accurate Precious Metals buys and sells precious metals, and you can find custom jewelry through their online and physical jewelry store. They offer gold or silver IRAs to help secure your financial future and avoid the effects of inflation.
In addition, local customers can take out pawn loans through the company for sudden financial emergencies. While they seem like a good company with mostly positive reviews, please do your due diligence and compare price quotes before committing to any offers.
Remember to read out list of the Top Gold Companies to see if Accurate Precious Metals made the cut.
Or, if you like what you read about Accurate Precious Metals, you can visit their website below.