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Investors seeking to diversify their portfolios are increasingly turning to alternatives beyond traditional stocks and bonds.
Among these alternatives, the precious metals industry stands out as a favored option for discovering the next great investment opportunity.
However, with numerous companies competing for attention, it takes a discerning investor to identify the right partner for their gold investments and related services.
In this comprehensive review, we delve into one such company—Wholesale Coins Direct. With a compelling and user-friendly website, Wholesale Coins Direct aims to serve the needs of every investor.
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 Wholesale Coins Direct passed our strict customer service standards to become one of our top recommendations.
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Getting to Know Wholesale Coins Direct
This company has been in business since 2003, which is a considerable amount of experience in the precious metals industry. Although there have been a few mergers within this time, WCD remains strong as a trusted partner for various clients.
They're proud to be associated with several organizations, including the Professional Coin Grading Service, American Numismatic Association, and the Industry Council on Tangible Assets. In fact, they even post their certificates on the website to reflect their standing in the industry.
The website doesn't discuss any founders or historical information, but their experience over several decades is impressive. WCD appears to be a legitimate precious metals dealer.
Buying Precious Metals
The bulk of WCD's website is dedicated to precious metals sales. Click on the "Shop by Category" tab to discover a dropdown box full of interesting products.
From gold to palladium, WCD offers a wide variety of items. This fact is a testament to their stability in the industry. Other companies may not carry as many products as WCD.
Each precious metals category is smartly laid out by coin type, bars by weight, or even international or vintage products. Investors choose an item, and a product page arises. It's refreshing to see starting prices for most products too. As a result, investors have a ballpark figure for their purchases.
Buy items as individual products or opt for sets. These options make browsing a pleasure for both new and experienced investors. WCD has even added a sale page to draw in even more customers daily.
Learning About the Industry
The website includes both "Education" and "Blog" tabs, which lead investors to further information about precious metals. Read about various coins, live spot prices, and retirement planning, for example.
The "Blog" tab offers a variety of articles that range from current affairs to product highlights. Investors can truly see a snapshot of the industry and their place in it with these helpful articles. In general, WCD updates the blogs every month with two to three new features.
This dealer also has a free investment guide highlighted across the site. Investors plug in their contact information to receive it. One downside to this guide is the possible sales calls that might occur in the future.
There are often terms and conditions to these free guides, which involve accepting calls or emails in exchange for information. This fact may turn off some investors.
Exploring Gold IRA Options
WCD doesn't offer or manage gold IRAs, also known as Individual Retirement Accounts. They sell precious metals and offer advice on how to invest them.
In fact, the free guide that requires investors' contact information has IRA features highlighted in it. The website itself doesn't prominently display much information about what a gold IRA is or what it can do for the investor.
Gold or precious metals IRAs work just like traditional IRAs. The main difference is the asset types. Investors purchase precious metals to store away until retirement. In contrast, traditional IRAs are limited to purchases of paper assets, such as stocks, bonds, and mutual funds.
It's possible to buy precious metals from WCD and invest them in a gold IRA. Investors would need to work with a gold IRA custodian or account manager to set up this specialized account.
Custodians assist in purchases and shipments of precious metals to an IRS-approved depository. Afterward, investors reap the tax benefits of stocking these funds away until retirement.
Storing Precious Metals
If investors are interested in opening and funding a gold IRA for its tax benefits, they cannot take physical possession of the precious metals. Federal law requires the precious metals to be in a secure facility called a depository. The precious metals remain safe there while they gain value over the years.
WCD doesn't have a depository, but its parent company called Lone Star Tangible Assets built and currently operates the state of Texas's main depository. This fact makes WCD a highly attractive dealer for investors. Most dealers don't have a depository. It's typically a separate entity.
Presumably, investors can buy precious metals from WCD, work with a custodian and ship those products to the Texas Bullion Depository.
There may even be a better fee structure for investors because of the relationship between the dealer and depository. Ideally, investors should ask about any bundle deals that can reduce additional costs.
Selling Back to WCD
WCD has a unique way of buying back precious metals. Click on the "Sell to Us" tab, which opens up a product page. They've listed the common items they buy back along with rough pricing. Fill up a cart with these items, check out, and ship them to the dealer.
Investors should note that there's a verification process once the items are received. No payout will occur until the items are authenticated. In fact, this process can take up to five business days. The payout will reflect the items' spot prices after verification.
This buyback process can be complicated if investors cannot find their product in the listings. WCD suggests calling them for a verbal quote as an alternative. The dealer does reserve the right to refuse any items if they don't fit their quality requirements. As a result, investors should only sell back items that are in good condition.
Examining Reviews
When investors research WCD, they'll find it's not accredited by the Better Business Bureau. It's unclear why they aren't accredited.
The fact that they're owned by a parent company may be the reason why. Additionally, their BBB rating is at a B-. The company does have several filed complaints, but most of these concerns appear to be resolved.
The complaints revolve around missing products or payments. Considering there have only been six complaints in the past three years, this company is performing well in customer relations.
There are very few reviews about WCD across the Internet, which may or may not be a good sign. Consumers who're happy with a service tend to show their appreciation with posts and reviews.
It's interesting to note, however, that WCD has many Facebook followers. The company doesn't post too often, but there's enough correspondence to keep the followers in place.
There doesn't seem to be a firm opinion on WCD either way, according to the limited information on the Internet. Investors can infer what they can from the company's website.
Trusting in WCD
WCD has a solid track record in the precious metals industry. With more than a decade of experience, WCD won't disappear from its website like a scam artist. It's a legitimate company to serve the growing interest in precious metals.
Additionally, they offer several contact pathways. Investors might fill out the contact form or call the office, for instance. There's even an option to make an in-person appointment at their office in Leander, Texas.
With a confirmed appointment, investors can meet with a staff member to go over their purchase. Because many precious metals dealers are exclusively online, an office visit is a rare opportunity for investors. Take advantage of this process if possible.
Looking at Company Features
Investors will appreciate the rock-bottom minimum required on all orders. A $99 minimum is almost unheard of in the precious metals industry. It's also possible to qualify for free shipping too.
A drawback to WCD is their suggested payment amount. When wiring money, WCD asks for an extra 5 percent on top of the spot price.
They request this amount because changing prices in the precious metals industry may change the order's quantity between placing the order and completing the transaction.
The 5 percent additional funds are meant to buffer any pricing changes. This request isn't very common, however, so investors should be aware of this fact.
WCD does take many different payment types too. PayPal, bank wires, electronic checks, and credit cards are all welcome. Investors should ask about minimum and maximum amounts for each payment type too. They can vary based on the transaction type.
Once shipped, investors' packages arrive in discreet packaging. In fact, some shipments are large enough for a Brinks truck ride. A tracking number comes with every shipment so that investors know where the item is at all times.
Deciding on an Investment
Overall, WCD is a company worth an investor's time. It has plenty of products for portfolio diversification, established communication pathways, and helpful information.
Investors may be concerned about a few complaints filed over the years, but it's commonplace for any experienced business to have a few difficult encounters.
Gold's spot prices can change daily, which is clearly laid out on the website for investors. WCD even lists these prices at the top of their website for clarification. Investors should keep this fact in mind as they consider an investment in gold.
WCD is a strong business in the precious metals industry, which translates into gold products that can gain value with a long-term investment.
Wholesale Coins Direct is one of many dealers in the precious metals industry. Investors may want to try a small transaction with them to test the financial waters. In the end, any precious metals purchase should have some solid returns when treated as a long-term investment.
Remember to read out list of the Top Gold Companies to see if Wholesale Coins Direct made the cut.
>> Click HERE to read our Best Precious Metals Investment Companies list <<
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At Digital Financing Task Force, we provide research and analysis for people that want to take control of their financial future and protect the savings that they have.
