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Investors want safer investment options other than stocks and bonds alone. When researching their options, they discover that precious metals offer a secure way to invest and build wealth for the future.
Of course, their return isn’t immediate, but precious metals increase in value over long periods. Therefore, investing in precious metals could provide an excellent choice for saving for retirement and achieving a better lifestyle.
Before investors can invest in precious metals, they must find a gold company that meets their needs. By reviewing Scottsdale Mint, these investors determine if the company is the most appropriate choice for diversifying its investment portfolio.
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 Scottsdale Mint passed our strict customer service standards to become one of our top recommendations.
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Scottsdale Mint Company History and Rating
Scottsdale Mint opened its doors in 2006 and offers various precious metals products. The company doesn’t use a refinery to produce its precious metals.
Instead, they have designers who create the products, and the organization manufactures and distributes custom-made precious metals. In addition, they offer online precious metals sales and don’t have a physical store or location.
While the Better Business Bureau doesn’t accredit the company, they have a 4.5-star customer rating. As of 2023, there have been sixteen complaints against the company within the last three years and three within the previous year.
Setting Up a User Account
Since Scottsdale Mint offers online sales only, customers create a user account on the website and store personal details in the account. They can add a payment method for faster order processing, and customers won’t have to re-enter these details each time they place an order.
Visitors can track their favorite products, monitor orders, and save items for later through a user account. In addition, a user account makes it easier for customers to sell their precious metals later.
Their Product Inventory
Scottsdale Mint sells gold and silver bars, bullion, and coins. Their gold products include Cameroon Mandrill, Ghana African Leopard, St. Kitts, Scottsdale bars, gold Lion, Archangel Michael, Year of the Tiger, and Year of the Dog.
They offer stacks, bars, rounds, and coins. These products include Cameroon Mandrill, Ghana African Leopard, St. Kitts, Silverback Gorilla, Shoebill Stork, Ghana Alien, Nefertiti, Ramesses II, and Deathstalker Scorpion.
Customers can review the “Deal” section to find precious metals at a discounted price. These deals update according to the current offerings, and investors and collectors could save a bundle on their investments.
Buying Precious Metals
Investors and collectors sign in to their user accounts as they prepare to buy their precious metals. Then, they add each product to their shopping cart using the additional features on the website.
All prices for the precious metals appear in the product listings, and customers can adjust the quantity of these metals. The checkout process is straightforward, and the customer follows the onscreen instructions.
Customers can expect their shipment within three weeks of the payment. Scottsdale Mint offers discreet packaging for all precious metals shipments and all parcels are insured. In addition, the company manages insurance claims if precious metals are lost, stolen, or damaged during transit.
They offer many shipping options for their precious metals. Customers can choose between UPS, USPS, FedEx, or transport via armored vehicles.
The fees for shipping services appear in the checkout, and customers can adjust these options to arrive at an affordable price for their purchase. Customers can get free shipping for all orders over $199. All orders under $199 require an $8 shipping fee for standard shipping through USPS.
Custom Precious Metals Projects
Scottsdale Mint offers custom precious metals projects for companies. For example, businesses can order commemorative coins and bullion representing their company.
To start, business owners complete the order form listed as “Custom Projects” under the “Resources” tab. Next, a customer service representative contacts the business owner and provides a price quote according to what metals they wish to use and the total quantity of their order.
Order Cancellation Restrictions
Scottsdale Mint doesn’t accept order cancellations or have a return policy. Therefore, customers shouldn’t commit to buying until they’ve decided. Once they send the payment, Scottsdale Mint cannot refund the money or stop the order shipment.
Many precious metals dealers do not provide cancellations because they face market losses. By restricting order cancellations, the company prevents market losses and doesn’t have to collect fees for these financial losses.
In addition, many companies require customers to sign a contract stating that the customer will pay the price difference if they cancel their order. Scottsdale Mint’s zero return or cancellation policy helps avoid these issues.
Selling Your Precious Metals
Investors and collectors can sell their precious metals through a buyback opportunity. However, Scottsdale Mint can only buy some precious metals through these processes.
To start a buyback, customers call Scottsdale Mint and speak to a customer service representative. The customer explains which precious metals they want to sell, and the customer service representative provides a price quote.
If the customer chooses to sell their precious metals at the quoted price, Scottsdale Mint provides discreet packaging for shipping them to the company. Once the package arrives, Scottsdale Mint processes the customer’s payment and sends the funds to the customer’s preferred payment method.
Resources Tab Options
Scottsdale Mint offers a “Resources” tab that provides guides and information for investors. There is a guide for becoming a precious metals dealer and market pricing and tracking options. Investors can start by reading through the information and discovering how to invest wisely and get a higher return.
Vaulting Your Precious Metals
Scottsdale Mint offers vaulting services for customers. They offer fully insured vaulting services, armored vehicle collection, secure escorting for transits, and custom brokerage services. Investors who don’t want to store their precious metals at home benefit from choosing these services.
In addition, Scottsdale Mint provides tracking options for the shipments and offers documentation for customers to show that their precious metals have arrived at the vault within issues.
Set Up an IRA With Precious Metals
Start by hiring an IRS-approved custodian to create a self-directed IRA account. The custodian can act as a liaison between the existing IRA provider, the investor, and Scottsdale Mint. The investor must determine if they want to transfer funds from an existing IRA or use the cash they have to purchase the precious metals.
If they decide to transfer existing IRA funds, the custodian contacts the IRA provider and files the paperwork for the transfer. The account holder can purchase their preferred precious metals once the funds are available in the new self-directed gold IRA.
While they don’t get the cash, the investor can direct their custodian on what to purchase and what quantities. For example, a customer service representative can tell the custodian if there is a minimum purchase amount for IRA-based precious metals purchases from Scottsdale Mint.
Once the payment transfers to Scottdale Mint, the company sets up the shipment to the preferred depository. The custodian receives receipts for the precious metals purchase, and they receive a notification when the precious metals arrive at the depository.
Contributions to a Gold IRA
IRS regulations restrict how much account holders can contribute to their IRAs. For example, account holders under 59 can provide up to $6,000, but once they are 60, they can increase their contribution to $7,000 annually. In addition, all contributions into an IRA are tax-deferred, and the owner pays taxes within the tax season they receive funds.
Distributions and Tax Implications
Once the account holder is 65, their custodian can set up distributions from the self-directed gold IRA. The amount they receive depends on the total value of the IRA and the tax implications.
Account holders can get monthly payments or a lump sum payment after liquidation. They pay higher taxes if they liquidate the entire account, but the account holder can adjust distributions based on their budget.
Leftover Gold IRA Balances
The account holder identifies a beneficiary when setting up a self-directed gold IRA. If there is an outstanding balance in the account, an heir receives the IRA funds after the owner dies. Since the IRA is part of the account holder’s estate, they have many options for managing leftover balances.
Estate planning offers a trust or options for an inherited IRA. For example, the account holder could set up a trust and transfer the gold IRA from their estate. An heir can receive distributions or liquidate the IRA through the estate. Investors can provide the trust for many heirs or just their successors.
Without an estate plan, the custodian must liquidate the gold IRA if the family doesn’t set up distributions within five years of the account holder’s death. Under the circumstances, the beneficiary listed on the documentation would receive the proceeds. However, if the beneficiary doesn’t want to liquidate, an inherited IRA is better for transferring the funds.
Custodians and Depositories
While Scottsdale Mint offers vaulting, they are not a depository for precious metals associated with a self-directed gold IRA. They do not have any recommendations, preferred depositories, or custodians listed on their website. The company does sell IRS-approved precious metals investors can use to fund their self-directed gold IRA.
Becoming a Precious Metals Dealer
Scottsdale Mint has an opportunity to become a precious metals dealer and wholesale partner. Get started by completing the web form on the “How to Become a Dealer” page. It is accessible under the “Resources” tab.
A company can become a Scottsdale Mint dealer if it is already involved in precious metals sales, has physical precious metals holdings for customers, and has an established store location or eCommerce store. In addition, the business must comply with minimum purchase requirements as directed by Scottsdale Mint.
These minimum purchase requirements are at least ten ounces of gold or 500 ounces of silver. However, they can mix and match their gold and silver to arrive at the minimum order size. In addition, a customer service representative can help them decide what products are best for their organization.
Scottdale Mint can partner with companies in Australia, Ukraine, the US, Germany, Japan, the United Kingdom, Poland, and Canada.
Signup Discount and Offer
All customers can get $5 off their first $250 order by signing up for the Scottsdale Mint newsletter. The signup form appears on the main screen of the website when a visitor opens the website in their browser. They receive the promo code via email after signing up. The promo code will work only once, and there is an expiration date.
Understanding International Purchases and Shipping
Scottsdale Mint accepts orders and ships internationally. The countries where they can ship include Australia, Austria, Belgium, Canada, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, New Zealand, Poland, Portugal, Spain, Sweden, and the United Kingdom.
When buying from Scottsdale Mint internationally, customers must convert their currency to US dollars and send payments via wire transfer, PayPal, or cryptocurrency. They accept Bitcoin, Ethereum, Litecoin, Solona, and Bitcoin Cash.
Scottsdale Mint manages all customer customs requirements; however, some taxes or levy duties apply. A customer service representative can assist international customers and calculate the total cost for clients before setting up the transaction.
If, for any reason, the order is returned to the company, customers are responsible for additional shipping fees and costs. Scottdale Mint won’t reship these packages to the customer. All customers should double-check their shipping information and ensure that Scottsdale Mint has the correct shipping address.
Customers can track their shipments and determine the expected delivery date for their precious metals. Clients should be available to sign for their package on the scheduled delivery date.
Scottsdale Mint offers many precious metals for investors and collectors. They operate online and create their precious metals products. Customers don’t have to call to get prices for most products and complete their orders online.
In addition, the company offers vaulting services for storing precious metals separate from an IRA. Companies that want to partner with Scottsdale Mint can become precious metals dealers. Overall, the company seems legitimate, but investors should do their due diligence before committing to buying precious metals.
Remember to read out list of the Top Gold Companies to see if Scottsdale Mint made the cut.
Or, if you like what you read about Scottsdale Mint, you can visit their website below.