Monarch Precious Metals Review
It is no mystery that the US is going through rough economic times. There are claims that the economy is getting better but that typically only applies to those at the top. Hardworking middle class Americans are still losing everything they worked for due to treacherous economic conditions.
It’s no surprise that many Americans like yourself are turning to the rock solid security of a gold IRA to protect their assets and even earn a profit during these troubling times.
In this Monarch Precious Metals review we’ll take a close look at this particular company to see if they are right for you when it comes to protecting your retirement savings.
Services and Products
Let’s start this Monarch Precious Metals review by answering the big question: Is this company a gold/precious metals IRA custodian? The answer is no.
Instead Monarch Precious Metals functions as a precious metals broker. Oddly enough, even though their name says “precious metals” they only offer gold and silver for the most part. The only exception I could find on their website were pennies of various rarity.
Another interesting thing is the fact that in addition to selling gold and silver in the form of bullion and coins, they also sell gold nuggets in glass vials as well as .999 fine silver grain.
In addition to selling various products Monarch Precious Metals also buys precious metals as well. They buy at 99% spot price and while that missing 1% may not sound like much it can really add up if you’re selling large quantities of metals.
Basically when you buy from Monarch Precious Metals you’re left to do with your gold and/or silver what you will. They don’t have any referrals to official IRA custodians on their site that I could find so you won’t get much help there.
Normally this would be the part of this Monarch Precious Metals review that I’d post reviews from actual customers. However, there is a huge lack of feedback for this company. After a lot of searching I did manage to dig up a few comments though.
This individual seems to have had a positive experience with Monarch Precious Metals:
“I’ve bought a few hundred ounces from them and never had an issue.As a positive side point their one ouncers ive measured have been anywhere from 31.3 grams to 31.7.” – Bryzantium from GoldisMoney2.com
However, some people claim that MPM’s prices aren’t exactly the best like this person:
“I’ve never had a problem with MPM. Their shipping is fast and I like the odd size weights like the 2, 3 and 25 ozers. I’d order from them more often if my brick and mortar store didn’t give me bro deals.” – Milehi from GoldisMoney2.com
This person also had a similar issue:
“My only (minor) gripe is that their selling price per ounce is higher on the 2 & 3 ounce bars than their 1 ounce bars.” – CrufflerJJ from GoldisMoney2.com
Overall what little feedback there is for the company seems to be positive with minor gripes here and there about pricing. Here are some of the overall scores I managed to find for Monarch Precious Metals:
70.83% Five Star Votes on GoldisMoney2
A – BBB
Let’s finish up this Monarch Precious Metals review with a final score for the company based off of my research and what others are saying about it.
0/10 – as an IRA custodian
5/10 – as a precious metals dealer
As a precious metals dealer Monarch Precious Metals seems to be fairly average. They have a good amount of gold and sliver products but don’t offer platinum, palladium, or anything like that from what I could tell.
Another issue is the lack of feedback on the company, which is concerning. As is the fact that they buy back at only 99% of spot price, which means you could get a bad deal if selling to them.
Also as stated before, Monarch Precious Metals is not an IRA custodian. And unlike many other precious metals brokers they don’t even refer you to official IRA custodians, which is disappointing.
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