Monument Metals Review

Monument Metals Review

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As the allure of precious metals investments continues to rise, savvy investors are increasingly diversifying their portfolios by incorporating these valuable assets.

Unlike traditional investment options, gold and silver provide a safeguard against the depreciation of the US dollar, offering a secure avenue for building wealth and retirement funds.

Monument Metals stands out as a notable dealer in this sector, offering a wide array of investment opportunities.

This review looks into the company's offerings, helping potential investors determine if Monument Metals is the ideal partner for their next investment venture.

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 Monument Metals passed our strict customer service standards to become one of our top recommendations.

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Who Are Monument Metals?

Monument Metals opened as a wholesale and trade company selling precious metals. However, in 2014, the organization opened its doors to public metals purchases.

The company offers various metals to the public, including standards such as gold and silver, and they also sell palladium, pre-1933 rare coins, and copper.

They sell precious metals online and through their Maryland location. The gold seller also offers discounts and deals for customers who sign up for their newsletter.

What Products Does Monument Metals Offer?

Investors can buy various metals from Monument Metals. They deal in gold, silver, platinum, palladium, and copper. In addition, the company sells bars, bullion, and coins, and customers can browse their products via their website or at their location.

Monument Metals - Products

Investors can create an account on the website and store all their information for fast payments and order placement. Each product has an image and brief description; clients don’t have to call for a quote.

How to Buy Precious Metals

To buy precious metals via the Monument Metals website, sign into a user account and click the tab for the preferred metal from the navigation bar. Investors see labels for gold, silver, and more. Next, they click on the preferred product to continue shopping.

There are subcategories for some of the bullion, and visitors can continue shopping until they find the right product. To the left of each listing is a quantity button that clients can increase or decrease with the plus and minus buttons to the right.

Once they have the preferred amount, click “Add to Cart” to add the item to the shopping cart. Continue adding metals until all items are in the shopping cart. The checkout process is straightforward and requires visitors to complete all onscreen instructions.

Customers can add different payment methods to their accounts for one-click payment processing, and there are several shipping options with rates displayed at the checkout.

Monument Metals ships non-IRA-related precious metals purchases to the customer’s location. Investors can store their precious metals wherever they prefer. The gold company uses discreet packaging, so no one knows what is in the box.

Monument Metals provides insurance coverage for all shipments and files an insurance claim if any packages are lost, stolen, or damaged. In addition, GPS tracking is available for all parcels, and clients receive a tracking number to monitor the location of their orders.

Can You Sell Precious Metals to Monument Metals?

As of 2023, Monument Metals doesn’t buy precious metals or offer a buyback opportunity to help investors sell or liquidate their metals. Instead, investors must review another company that provides these opportunities if they want to sell their metals.

Setting Up an IRA

A precious metals IRA offers a sound investment for retirement and won’t decrease in value because of the US dollar. Investors ready to start must hire an IRS-approved custodian to open an IRA account.

While the metals provider has custodian recommendations, open the account through a local and trusted custodian so the client can discuss their needs in person.

Once they open the self-directed precious metals IRA, the custodian arranges the funds transfer from an existing IRA, such as an employer-matched retirement plan.

Although the custodian acts as the liaison between the IRA provider and Monument Metals, the account holder doesn’t manage the transfer, and the funds are never in the customer’s possession during the transaction.

Once the funds are available to the custodian, the investor provides details about what precious metals they want to buy and in what quantity. Once the custodian receives the price quote, they give the information to the customer. After an agreement about the total price, the custodian completes a wire transfer and sends the funds to Monument Metals.

Monument Metals packages the precious metals and ships them to the depository of the client’s choice. IRS-approved depositories are a must for all precious metals accounts, and the custodian updates the investor about the shipment.

Monument Metals doesn’t have a minimum purchase price. However, if investors want to buy more than $250,000 in one precious metals order, they must first call the company and make order arrangements with a customer service representative.

IRA Custodians

Monument Metals has preferred self-directed IRA custodians from which customers can choose. These IRS-approved custodians include Equity Trust Company, Goldstar Trust Company, and New Direction Trust Company. However, investors are not obligated to hire these custodians to manage their precious metals IRAs.

However, Monument Metals has an existing relationship with these custodians, and with this partnership, the custodians are familiar with documentation for Monument Metals IRAs.

Therefore, investors should do their due diligence before committing to a custodian or signing a contract with Monument Metals.

Storage for Your IRA

Monument Metals offers suggested depositories for clients who start an IRA. These recommended depositories include the International Depository Services Group and SWP Cayman. Clients aren’t obligated to use these depositories for their precious metals IRA, and they can review any depositories they prefer.

However, IRS-approved depositories are a requirement for all IRAs, and account holders can only store their IRA-related precious metals in a depository.

Customers must choose their depository before opening their IRA and transferring funds. Comparing fees for storage and maintenance helps investors make well-informed decisions and avoid unaffordable rates.

Increase the IRA’s Value

The investor’s custodian can set up future purchases to increase the total value of the IRA to give them more financial freedom. For example, while gold IRAs generate the most significant value, investors can add other metals to increase their IRA value.

Reviewing the current market prices for each metal helps investors make sound choices and get their metals reasonably priced. In addition, they can compare prices to determine how much of each metal to purchase.

The client’s age affects how much they can contribute to their gold IRA. Since it is a retirement plan, the custodian and the investor must follow current IRS restrictions. All investors under 59 contribute no more than $6,000 annually to the gold IRA and other retirement plans they own.

However, once they are almost 60, they contribute as much as $7,000 yearly. While most investors don’t usually add to IRAs after 65, the customer can purchase precious metals and transfer them into a new IRA account.

When the account holder reaches 65, they can start distributions from the account. The custodian manages these distributions after the client files the documents.

Order Cancellations and Returns

If a customer commits to buying precious metals from Monument Metals, they must complete the transaction and provide the total payment. If the client stops the payment and returns the metals, they face fees and penalties through the company’s Market Loss Policy.

In addition, the gold company will require payment for the difference between the quoted price and the current market price for the precious metals.

Customer service representatives are committed to resolving customer issues with their orders. For example, if the client is displeased with a product, they can return it to Monument Metals to exchange it for something else.

Refunds are the last resort, as the company states in its FAQ section. Customers have five days from the date of the shipment’s arrival date to contact Monument Metals to discuss these issues and try to get a refund.

Shipping Options for Orders

As of 2023, Monument Metals ships precious metals via the US postal service, FedEx, and UPS. The company sends all orders within three to five business days from the payment date.

If customers want to get expedited shipping, the company charges extra fees, and clients must add these fees to the shopping cart if buying online or inform the customer service representative about their preferences when ordering by phone.

In addition, all precious metals orders over $1,000 require a signature upon arrival, so customers should prepare for their arrival and be available on the posted arrival date.

Pre-Ordered Precious Metals

Investors can set up a pre-order for some precious metals through Monument Metals. However, they must pay for the order when they place it, and the company ships the items within 24 hours of availability.

Payment Methods

Monument Metals accepts wire transfers, PayPal, credit cards, checks, and money orders. Customers who do not use credit cards or PayPal to complete their orders receive a 4% discount.

Deals at Monument Metals

Any precious metals deals offered by Monument Metals appear on their “Deals” page. They provide a 24-hour silver raid where many silver bullions, coins, and bars are available at a discounted rate.

Checking the page helps investors find additional opportunities to invest in precious metals and increase their portfolio value or metals IRA.

Options for Collectors

Collectors can find pre-1933 coins at Monument Metals. To access these coins, visitors can click the “Pre-1933 Coins” tab on the navigation bar. There are images for all coins with a price and options for adding them to the shopping cart. In addition, monument Metals offers packaging for these coins to prevent damage.

Monument Metals - Coins

Finding New Products Faster

Monument Metals has a “New’ tab that gives investors immediate access to new product releases. Any new precious metals products appear on the page, and customers can set up notifications for products that will arrive soon but aren’t available now.

Then, when the metals are open to the public, the client receives the notification and can purchase any quantity they prefer.

However, clients must contact their custodians first to add these products to an IRA. Account holders can add new products to the IRA if they don’t exceed their annual limit.

Pros & Cons

Advantages and Disadvantages

As of 2023, Monument Metals’ advantages include free shipping for orders over $199, and the company ensures customer discretion with unmarked packaging.

In addition, most products available through the precious metals dealer are IRS-approved for a self-directed IRA, and there is a vast inventory of bullion, bars, and coins. They also help clients who want to open a self-directed IRA for investors who want a safe choice for retirement.

Monument Metals offers many advantages for investors and collectors. The organization has a steady history of precious metals sales and offers precious metals IRAs. Compared to other companies, it has a large inventory, and customers can see these products online 24 hours a day.

Clients don’t have to contact the gold company to set up an order and aren’t restricted to wire transfers only. While it seems like an honorable dealer-distributor, investors should compare prices among similar companies before committing to Monument Metals.

Remember to read out list of the Top Gold Companies to see if Monument Metals made the cut.

>> Click HERE to read our Best Precious Metals Investment Companies list <<

Or, if you like what you read about Monument Metals, you can visit their website below.

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