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Provident Metals is a leading online retailer of international and domestic bullion, currency, numismatic coins, and other metals. Provident Metals was created due to the request of customers looking to buy precious metals from someone they could trust.
The company set a goal to meet bullion investors' unique needs. They are committed to providing quality products with the best customer service in the industry, which has enabled Provident Metals to become a premier online destination for sovereign and domestic bullion.
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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 Provident Metals passed our strict customer service standards to become one of our top recommendations.
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Precious Metals
Provident Metals has a great range of products on its website. Investors can explore gold, silver, platinum, copper, and more.
When looking for a precious metals dealer, it's essential to choose one that has an extensive inventory. After reviewing Provident Metals, it's clear that the company offers several metals for physical delivery and metals approved for an IRA.
Let's take a look at some precious metals you'll find in each category:
Selling to Provident Metals
Do you have precious metal coins and bars stowed away at home? Provident Metals will sell your precious metals for record prices. Provident Metals claims that investors will get top dollar for their bullion or numismatic gold, silver, platinum, or palladium.
According to Provident Metals, the process to sell your gold and silver bullion is quick, simple, and worry-free. Let's take a look at the steps involved in the process:
Step 1: Call to Lock in Your Price
The first step is to call and lock in your price. You can call them at 1-800-313-3315. The buyers at Provident Metals are industry leaders that offer knowledge and expertise to help you throughout the process.
When working with them, you'll benefit from competitive prices. You'll also find that most products will have a "Buy Back Price" listed when selling. Once your price is locked in, you'll receive an email confirmation with your prices, a packing slip, and instructions to ship your items.
Step 2: Ship Your Items
The next step is to ship your precious metals. Once you receive your email confirmation, you have until the following business day to get your items postmarked.
Provident Metals asserts that shipping is your responsibility. However, they will guide you on recommendations of how to best pack your items and provide information on other shipment options.
Step 3: Payment is Released
After Providence Metals has received your items, your payment will be issued within three business days. The company asserts that they receive hundreds of packages every day and the three-day period enables them to verify the contents for authenticity.
Payment Options
Customers can choose from one of three convenient payment options. It's free when you receive an ACH electronic check. A paper check is $30 and $25 for a wire transfer.
It's important to note that the minimum amount to sell to Provident Metals is $1,000. The entire purchase order will need to meet this minimum.
Provident Metals also states that if you do not see the items you're looking to sell on their website, they may still be able to make an offer. To find out more, you will need to call and speak to their purchasing department.
Precious Metals IRA
Are you interested in more than just buying metals? You can also open a precious metals IRA with Provident Metals. According to the company, you can open an IRA in just three easy steps. Here's what you'll need to do:
Step 1: Open a Self-Directed IRA
The first thing that you'll need to do is contact the Preferred Trust Company and allow one of their IRA experts to assist you in the process. To get started, you can click the link on their website or give them a call at 888-990-7892.
Step 2: Fund Your IRA
The next step is to fund your IRA account. It's important to note that you have three options when it comes to funding. You can do a direct transfer from another qualified retirement account, a rollover from a qualified retirement account, or an annual contribution.
Step 3: Purchase Metals
The last step is to purchase your metals. Once you do so, the Preferred Trust Company will fund your investment.
What's also great is that Provident Metals has a list of IRA-eligible bullion that you can choose from. Investors will find a great range of gold, silver, platinum, and palladium that can be added to their accounts.
Additional Resources
Provident Metals also offers a variety of other resources for investors to take advantage of, such as:
Price Charts
Investors can look at intuitive price charts for gold, silver, platinum, palladium, and Bitcoin. Price charts can be viewed in several timeframes for more accuracy. You can also look at historical price charts or just simply customize your chart to your needs.
Investment Blog
Investment guides are a great opportunity for new and seasoned investors to make financial decisions with more confidence. Provident Metals offers a comprehensive investment blog for anyone who wants to learn more about gold, silver, platinum, palladium, copper bars, and coins.
Provident Metal's information is designed to be easily consumed. The company offers continuous education in the form of blog content to give you all the information you need to make decisions in confidence. Here is some information you'll find on the company's website:
Buyer's Guide: Perfect for investors and collectors who are looking for a trusted source for bullion facts, history, and specifications.
Glossary: Explore common terms used in the precious metals industry.
Bullion Investment Resources: Learn about precious metals and other pertinent information you need to learn how to invest.
Collectible Coins: If you're a collector, you can learn about the anatomy of many historical coins, technical specifications, and other important factors.
Reviews
Provident Metals has over 3,000 reviews on Trustpilot with a rating of 3.0/5. Overall, the experiences that customers have had with the company are mixed. Let's take a look at some positive and negative reviews of the company:
Positive Reviews
A customer from December of 2021 ordered 10 5oz bars. The customer was more than satisfied with their purchase as the items came as expected and without any issues.
Another customer said that the bullion offered with Provident Metals is always at an excellent price point. According to the customer, Provident Metals stays true to its claim of offering spot prices. They highly recommended the company due to its honesty and transparency.
Negative Reviews
One customer claimed to have had a terrible experience with Provident Metals after 10 years of hassle-free purchases. The customer ordered 10 Silver Eagles in December of 2022 and an empty, untampered box arrived one week later. The package was not insured by the carrier and the internal insurer refused to cover the customer's claim.
The customer said their only option was to report the situation as fraud to their financial institution.
Another customer ordered 4 1oz silver coins and 2 coin capsules. When they opened the package, they discovered that all four of the coin flips had not been folded and secured in the bubble envelope that was placed inside the box. All the coins they purchased slipped out of the coin flips and have been moving about the packaging, damaging the metals.
According to another customer, Provident Metals appears to be a good company until there is a problem. This particular customer ordered a thousand dollars worth of products. The payment was made by Check, which had cleared the customer's bank. Provident Metals said that the item was shipped but the USPS tracking number indicated that it was never shipped.
The customer made several phone calls and sent several emails to Provident Metals. According to the customer, no one ever responded, and appeared to be ignoring their request to refund their money. The customer ended their review by stating they would be filing reports with BBB, Dallas Police Department, and the Federal Trade Commission if no refund is given.
Provident Metals has gained a significant number of negative reviews. It appears that the company previously had a positive reputation but has had a shift in its customer service experience. This is something that investors and collectors should keep in mind.
Our Rating
Pros & Cons of Provident Metals
Searching for the best company to meet your precious metals needs isn't always easy. If you're considering Provident Metals, read on to learn about the pros and cons of working with this company:
For those interested in buying precious metals, you'll appreciate the fact that Provident Metals has a category specifically dedicated to deals. The company seems to regularly have a few valuable coins in its inventory that investors and collectors can get at a significantly lower price.
Provident Metals provides a great amount of education to help investors learn about the precious metals industry and various bars and coins. This is especially useful for those who are just getting started in the precious metals industry and want to feel confident about their decisions.
Another advantage of Provident Metals is that the company appears to carry a large selection of precious metals at all times. Whether you're looking for items to collect or you're looking for IRA-eligible coins, Provident Metals has something in its inventory to meet your needs.
The reviews about Provident Metals are evenly split. But what's most interesting is that the company was raved about consistently in the past. As of recently, it appears that Provident Metals has been building a poor reputation. For this reason, the company may not be as reliable as it once was.
Another thing to keep in mind is that no one from Provident Metals doesn't appear to be following up with customer complaints. Although most companies will have problems from time to time, companies need to take accountability and provide solutions.
Provident Metals: Final Thoughts
Provident Metals is a popular precious metals dealer and IRA specialist serving collectors and investors. The company offers a variety of gold, silver, platinum, palladium, and more. With that said, the company offers a great range of products, whether you're looking for rare collectibles or IRA-approved metals.
Provident Metals could be a good company to consider for your precious metals needs. But keep in mind that the company's reputation has started to shift. A growing number of customers have been displeased with their service. It's important to continue to do your research and ask questions before making a commitment.
Remember to read out list of the Top Gold Companies to see if Provident Metals made the cut.
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