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Choosing precious metals as an investment option can be a smart way to enhance any portfolio.
Learn all about Texas Precious Metals and how their goods and services might serve investors across the nation.
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 Texas Precious Metals passed our strict customer service standards to become one of our top recommendations.
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Get to Know Texas Precious Metals
Texas Precious Metals is a precious metals dealer based out of Shiner, Texas. It's been in business since 2011, which gives it credibility as a reliable seller of gold, silver, and other metals.
This dealer has sold millions of dollars of precious metals over the years too. As a result, the company has grown to include a depository and consultation services regarding self-directed IRAs or Individual Retirement Accounts.
Investors have many product and service choices with Texas Precious Metals, which is attractive for diversified portfolios.
Know Their Affiliations
Reputable dealers in the precious metals industry will usually have affiliations with certain organizations. These relationships translate into a legitimate business with customer service at its core. Texas Precious Metals clearly lists these affiliates at the bottom of its homepage.
These organizations include the Industry Council for Tangible Assets or ICTA and the American Numismatic Association or ANA. Any business associated with these organizations is vetted, which means they offer valued services and goods.
Although it may not have a perfect track record, Texas Precious Metals isn't a "fly by night" company that will disappear after a big sale. Their strong affiliations legitimize them as a trusted company. In the precious metals industry, there can be scams found on the Internet where investors lose money in large sums.
Pros and Cons of Texas Precious Metals
Texas Precious Metals sells gold, silver, and platinum coins, bars, and rounds. Their inventory is quite extensive, which gives investors a lot of choices during purchasing. A major advantage to buying from this dealer is their monster box availability.
They sell sealed monster boxes of specific coin types. Because they're sealed, the coins remain in sequential order while protected in plastic casings.
This dealer is more than just a precious metals retailer. In fact, it has its own depository for self-directed IRAs. Customers can secure their precious metals at the same location as buying them. This offering isn't standard in the industry.
There don't appear to be many disadvantages to Texas Precious Metals. Their website describes some solid services and products. However, they don't offer custodian services that are required with self-directed IRAs.
This dealer advertises that it can assist with IRA setups by working with a custodian of the investor's choice. With this individual in place, Texas Precious Metals can then sell the metals to the investor, ship them from the mint and secure them in the depository.
It would be helpful if Texas Precious Metals offered custodial services so that the investor could exclusively use this business. As a result, investors must work with two entities to complete any IRA transactions.
Define Available Products
This dealer offers the highest quality precious metals so that investors have real value to their home collection or IRA investment. Their largest product line is the gold coins.
Investors choose from American Gold Eagle, American Buffalo, Canadian Maple, Royal Mint, South African Krugerrand, Australian Perth, or Austrian Philharmonics coins.
Because this dealer is based out of Texas, they have plenty of state coins to thrill investors. Texas gold rounds, for example, are great additions to any investment. If investors have a limited budget, they can even start out with half-ounce, quarter-ounce, or even 1/10-ounce gold coins.
These same coin types are also found in silver. Investors might add other silver to their collection too, such as St. Helena or generic silver rounds. Alternatively, gold, silver, and platinum bars are great additions to investing in standard coins.
An unusual product offered by Texas Precious Metals is gun ammo. Clicking on the "Ammo" tab takes investors to an entirely different website, however.
Because most investors look for precious metals during their time on this site, they may want to ignore this tab altogether. Ammo cannot be used in any capacity when it comes to investments.
Discover Helpful Services
Texas Precious Metals is proud to offer depository services for its investors. It's an IRS-approved facility to hold precious metals for IRA tax incentives. Each investor's assets go into segregated sections so that they're always secure.
A unique service that's not typical of most dealers is limit orders. For example, an investor wants to buy gold at a certain price. The cost per ounce isn't at that desired spot price yet, however. Investors don't have to waste time by constantly checking on the price in the future.
They simply set up a limit order. As a result, Texas Precious Metals monitors the cost. When the product reaches the desired spot price, an immediate order goes through. Investors receive a notice, and they can complete the transaction without any wasted time.
Offshore storage of precious metals is also possible with Texas Precious Metals. A private facility in the Cayman Islands is where investors might physically store their assets. Although most investors select Texas for the depository, this offshore location is also attractive. It's entirely up to the investor.
Consider the Fine Details of Precious Metals IRAs
The sole purpose of holding precious metals in an IRA is their tax incentives and financial security. The IRS only allows for certain metals to be secured in a depository, which gives investors a chance to reap the benefits of deferred taxes.
Because the metals must be of the highest quality or purity, they also provide financial security. Precious metals aren't prone to market volatility. In fact, their value tends to rise over time regardless of the economic current.
A downside to precious metals IRAs is their storage restrictions. Investors cannot keep the gold or silver at home. It must be at a depository under lock and key. For some investors, this fact is a turnoff. They want to take ownership of the precious metals.
Texas Precious Metals gives investors both choices for their purchases. They can take ownership of the gold or silver with a standard purchase. Alternatively, they open an IRA account, fund it and secure the precious metals in the depository.
Investors can withdraw the precious metals during retirement as a cash-out transaction or take them home as purchased. The precious metals continue to gain value over time until investors need them liquidated.
Keep in mind that Texas Precious Metals acts as a middleman for investors. They do not act as custodians. They simply sell the products and offer depository storage. There will be a custodian involved for any transactions otherwise.
Precious metals IRAs take a bit more effort, but they can diversify a portfolio with tangible assets. In contrast, paper assets, such as stocks and bonds, can swing wildly in the economic wind.
Open an IRA Account
Texas Precious Metals simplifies the process of creating an account by breaking it down into steps. Initially, they encourage investors to create a free account. By simply typing in a few key pieces of information, an account is set.
Speaking to a representative is the next step. This account must be funded with the help of a custodian. Texas Precious Metals advertises a handful of trusted affiliates for investors. However, they also mention other custodians are permissible.
Custodians must be IRS approved for any further transactions. Investors work with this custodian to roll over funds or deposit money into the IRA account.
The third step is purchasing precious metals from Texas Precious Metals. Because investors have already been working with an established account, the funding and purchasing process should be streamlined.
With products purchased, they're immediately shipped to a chosen depository. Investors receive tracking information for all of these transactions. They simply sit back and enjoy their investment now that it's safe at the depository. Shipping and insurance are free of charge.
This company's account process is similar to most others in the industry. It appears to be straightforward for most investors.
Learn About Texas Precious Metals Customer Service
Texas Precious Metals has a different approach to its customer support. On other sites, the companies stress calling them with large, bold phone numbers popping up on every page.
In contrast, Texas Precious Metals offers more independence for its clients. They're encouraged to browse the site, add items to their cart and check out.
This company simply offers two pathways to customer support. Investors either call or email the company. This fact may turn off some investors while thrilling others. It's a classic, hands-off approach.
By reading the online reviews, investors may come to the conclusion that most customers enjoy their interaction with Texas Precious Metals. These perspectives are all subjective, which tells investors that their own experience will be unique to them.
Browse the Website
Texas Precious Metals has a relatively simple layout for its website. As investors land on the homepage, they're met with a large graphic asking them to click on either the "Buy" or "Sell" buttons.
Just below the graphic is a banner full of media outlets that have highlighted Texas Precious Metals. They've been featured on the Dallas Morning News, USA Today, and the Wall Street Journal, for instance. These references give them credibility in a crowded marketplace.
The homepage also offers a glance at the company's offerings, from free shipping to featured products. With one casual glance, investors have a good idea about this company's services and available products.
Along the top banner are several choices, such as "Products," "Texas Depository," "Charts," "Ammo" and "More." Because they prioritize precious metals purchases, it makes sense to make this area a dominant feature of the homepage. Browsing through the products gives investors a look at cost too.
Investors find several cost quotes. By buying in bulk, each spot price becomes slightly cheaper than just purchasing one or two items. Investors can look around the site so that they can determine what works for their budget. Transparent pricing is a definite highlight here.
The best way to determine if a dealer is a good investment partner is by reading firsthand accounts of their services. If investors visit the Better Business Bureau website, they'll find a nearly perfect record for Texas Precious Metals.
There are no reviews and only a single complaint. Considering Texas Precious Metals has been in business for many years, the lack of complaints is reassuring. They're also BBB accredited with an A+ rating. These accomplishments speak highly of the dealer's business ethics.
Most reviews about Texas Precious Metals can be found on their Amazon page. This fact is entirely unusual because most dealers don't work through a retail page that's offsite. However, more than 1,000 reviews or ratings can be seen here.
Because these ratings are largely positive, investors may have even more confidence in Texas Precious Metals than before. Consider a search through Yelp's reviews too. They aren't as numerous as Amazon, but they're still helpful when making a financial decision.
Decide on a Precious Metals Dealer
As investors decide between precious metals dealers, Texas Precious Metals stands out with its high-quality products and plentiful services. The company only has a few drawbacks and negative reviews.
A good rule of thumb is to start out small with any investment. Rolling over a small amount from a 401(k) or other IRA to fund a precious metals account is an intelligent way to get to know the dealer and the entire process.
As a result, investors don't commit too much money to these tangible assets. The goal is to always diversify. Precious metals are a legitimate pathway toward solid returns.
By selecting a company with many years in the precious metals industry, investors can see a solid return on their purchases. Use research, instinct, and a diversified portfolio to see those retirement savings grow. In the end, retirement can be comfortable with money in the bank.
Remember to read out list of the Top Gold Companies to see if Texas Precious Metals made the cut.
Or, if you like what you read about Texas Precious Metals, you can visit their website below.