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Physical precious metals are growing in popularity, and more individuals are choosing to buy them to build wealth for the future. These products are great for individual retirement accounts since they tend to hold their value even in times of political and financial turmoil.
Many investors have added precious metals to self-directed IRAs to achieve a low-stress and financially free lifestyle in their golden years.
Diversification is only one benefit of adding precious metals to a portfolio. Investors can get more out of their IRAs by increasing the account's value annually.
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 Pimbex Review passed our strict customer service standards to become one of our top recommendations.
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About Pimbex Review
When they review their options, they need to find a company that meets their investment needs, offers legitimate trades, and won't present them with issues when they stop working.
Pimbex is a gold seller, providing many valuable services for anyone wanting to invest. Examining details about the company helps potential buyers decide if the company is the most appropriate choice.
Company History and Ratings
Pimbex started in 2021 in Irvine, California, offering in-person, phone, and online precious metals sales. While the Better Business Bureau doesn't accredit them, the company has a 5-star and A+ rating.
There aren't any customer complaints about the company on the BBB website. The business offers many services and opportunities for investors and precious metals collectors.
What Products Do They Sell?
Pimbex offers a variety of precious metals for customers who want to buy precious metals outright or start an IRA. The company's gold products include American Eagle, American Buffalo, Australian Kangaroo, Austrian Philharmonic, Canadian Maple Leaf, Royal Canadian Mint, PAMP Fortuna bras, and Valcambi bras.
Pimbex's silver products include American Eagle, Australian Kangaroo, Austrian Philharmonic, Canadian Maple Leaf, South African Krugerrand, British Britannia, and Silver Libertad. They also offer platinum products, including American Eagle, Australian Philharmonic, Canadian Male Leaf, and platinum bars.
Buying Precious Metals
To purchase precious metals, visitors click the "Register" button at the top right of the Pimbex website and create a customer account. They can add all their details when creating the account, and if they prefer, the customer can save their preferred payment method in their user account.
Next, they can either shop online and add the products to the online shopping cart or call in their order. Once they finish online, they complete the checkout process and the transaction. Once Pimbex receives the payment, they set up the shipment within 48 hours.
They send all metals in discreet packaging to secure the parcel and prevent outsiders from knowing what is in it. The company applies insurance coverage to the packages to avoid financial losses for themselves and their customers.
If the customer wants to place a larger order, they may need to call the order into Pimbex. They commit to buying the products if they complete a call-in order and get a price quote. Any cancellations are subject to a market loss fee based on the current market price of the products.
Pimbex custodians must manage any precious metals purchases for an IRA. The custodians manage the shipment to the depository and documentation preparation. Customers may pay all related fees when opening retirement accounts, hiring Pimbex custodians, and storing metals in a depository.
Pimbex must apply sales taxes according to the buyer's location and state laws. If state laws require IRS reporting, the company must file the appropriate tax forms as required. Customers must pay all sales taxes when completing their purchases.
Late Fees for Payments
Any customers who set up a payment plan after buying a deposit must submit timely payments, or Pimbex applies interest to these payments and later fees.
If the company doesn’t receive payments after a lengthy time, the business will use an attorney to collect the money, and the customer must pay the company’s attorney’s fees. Read more about these charges in the Terms of Sale portion of the website.
Selling Precious Metals
To sell precious metals to Pimbex, visitors click the "Sell to Us" tab on the navigation bar. Complete the form on the webpage when it loads to request a free product quote. The customer could call them directly to get the quote faster, but they must wait until a customer service representative is available. There are often wait times depending on the current call volumes.
The client should follow all shipping instructions as directed by Pimbex, and they must pay for shipping the metals to the company. The payment arrives after the company receives the package, and the metals pass the inspection process. There is a $20 fee if the customer wants a wire transfer payment. According to their website, Pimbex doesn't guarantee a buyback for all previous customers.
Age Restrictions for Purchases
Pimbex doesn't sell precious metals to any parties under the age of eighteen. They reserve the right to cancel any orders they suspect were placed by underage customers. Parents who believe their child has set up an order and misrepresented themselves to Pimbex should contact customer support to cancel the order and arrange a refund.
There are fees and charges to the parent for violating the company's terms of sale. These fees could include a market loss penalty for the fraudulent purchase.
User Account Requirements
Visitors have the option to use a guest option for placing orders. However, the company preferred anyone who wants to purchase the products to set up a user account. Using a user account helps the company secure financial and personal details more effectively than if a customer uses the guest option.
Customers must secure their account information and prevent others from signing into the account or making changes. The user accounts are protected through high-grade encryption and a secure socket layer. However, Pimbex is not responsible for unauthorized access to the account from the customer's home.
Do They Offer Gold IRAs?
According to the FAQs on the Pimbex website, the company is partnered with several trust companies and can provide a gold IRA for clients. As of 2023, the business doesn't have a minimum purchase amount for their gold IRAs, and the customer should contact the company directly to start the individual retirement plan.
Since they are partnered with trust companies, they require customers to use their custodians for retirement plans, but customers can choose their depository.
Customers can determine which IRA suits their needs by examining the account types. Tax-deferred options require them to pay taxes when they withdraw money during retirement.
These accounts are classified as traditional IRAs, and owners should consider how much they'll have to pay later when setting up these accounts. These account types come with a minimum distribution amount once they have retired, and if they don't start them by 72, the IRS steps in and forces monthly payments.
Roth accounts aren't tax-deferred since the client pays taxes on their wages before sending any funds to the report.
The benefit of these accounts is that once the taxes are paid, they don't have to worry about them later in life, and they can withdraw any amount during retirement without increasing their tax implications.
The Roth option doesn't come with forced distributions; the owner has more control over how much of their account they use each year.
Shipping Options and Details
Pimbex requires a $10 shipping fee for all orders under $500. They offer free shipping for orders that are at least $500. The customer's shipping and billing addresses must be the same, or the company won't ship the order for security purposes.
They do not ship to Minnesota, Alaska, Hawaii, or any international address. The company won't ship precious metals to P.O. boxes. Pimbex ships within 48 hours of receiving the payment successfully.
The Gram Club
Pimbex offers the Gram Club for customers, which is a subscription service for buying precious metals, and the subscription plans are $125 and $250 monthly. Each month, Pimbex sends precious metals based on the monthly subscription payment to the customer.
Customers can opt-out if they don't want a subscription or choose the plan they want. The company doesn't charge additional cancellation fees for anyone who decides to stop the program.
Pimbex's Bullion Newsletter offers helpful advice for anyone wanting to invest in precious metals or collect certain pieces. Visitors who sign up for the newsletter get company information such as new deals, discounts, and new product arrival details.
Sometimes, they are a discount for signing up for the company newsletter if the visitor is a new customer and hasn't placed an order yet.
Accepted Payment Methods
The payment methods accepted at Pimbex include credit and debit cards, ACH, and bank wire transfers. Customers can save their preferred payment method in their user account on the Pimbex website.
Their Return Policy
To start a refund, customers can contact the company's helpdesk within two days of receiving their order. Once the customer gets approved for a refund, they receive a returned merchandise authorization number.
The client must add this number to their shipment and return their precious metals to Pimbex in the same package they arrived in unopened. The metals must be in the same condition as they arrived.
The market loss fees are deducted from the refund, and shipping fees are non-refundable. The company charges a $50 fee for order cancellations.
Summary on Pimbex
Pimbex is a gold and precious metals seller that offers many services for investors and collectors. They offer many products appropriate for individual retirement accounts and building wealth. It can help investors who want to create an IRA or increase the size of their accounts later.
The company offers the Gram Club, which provides monthly shipments of precious metals, and collectors can get a steady supply of preferred metals. The company also has educational opportunities to inform new investors about new options and ways to build wealth.
Overall, Pimbex is a good company, but visitors should compare it to other companies of interest before committing to any purchases.
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