Money Metals Exchange Review: The Best Online Bullion Marketplace?

In this Money metals Exchange review, we’ll be taking a look at this specific online bullion exchange platform, which offers a small variety of financial services centered around precious metals. Although gold and silver are usually the two metals that come to mind, there are actually multiple precious metals that interested individuals can choose to invest in. However, Money Metals Exchange isn’t the only online platform offering these services, so what makes it any different from the competition? Well, keep reading and you’ll soon find out!

What is an Online Bullion Exchange?

A bullion exchange is a marketplace specifically designed to allow the buying and selling of precious metals. Likewise, an online bullion exchange - such as Money Metals Exchange - provides the same services, albeit completely online. Some bullion exchanges may only trade certain products (such as bars and coins), which can limit buying opportunities. However, Money Metals Exchange sells a wide variety of products, including:

● Bars
● Fractionals
● Coins
● Rounds
● Jewelry
● Bullets, and
● Statues

The type of metal you’re attempting to purchase will ultimately limit the products you can buy. For example, gold can be purchased in bars, coins, jewelry, rounds, and fractionals, while Palladium can only be purchased as bars or coins!

Money Metals Exchange Offerings

Nearly all bullion exchanges offer buy-and-sell services, but we’ll be covering a few additional services in this Money Metals Exchange review. The flexibility and accessibility of this online platform greatly contribute to its constant stream of repeat customers. When paired with excellent M-F customer service, this shouldn’t come as a surprise!

Buying

There are plenty of precious metals available for purchase on the Money Metals Exchange website. You’ll first need to create an account, but once this quick step is complete, you can start shopping. Unfortunately, Money Metals Exchange only allows you to purchase one product per order, but we’re hopeful that this system will be improved on in the near future!

After you’ve decided which metal you’re going to buy, you’ll be prompted to enter payment information. Thankfully, the platform supports a small variety of payment options, including checks, bank drafts, wire transfers, credit cards, and Bitcoin! Shipping is free, assuming your order total exceeds $500.

Selling

If you have gold, silver, palladium, or platinum, you can sell it to Money Metals Exchange for a profit. The process is actually quite simple! You’ll first need to call their customer service number, at which point you’ll negotiate a final price. Once the price is set, Money Metals Exchange will send you an email confirming the purchase and providing shipping information. Follow the shipping instructions; you will receive payment once the metal(s) have been received and verified as genuine.

Storage

Purchasing precious metals is exciting, but the same can’t be said for storage. Thus, we thought that it was important to mention the “Money Metals Depository'' in this Money Metals Exchange review Despite being securely stored within the county Sheriff’s Office in Eagle, Idaho, and insured by Lloyd's of London, the storage fees are surprisingly affordable (starting as low as $96 per year). If you’d prefer your metals be stored elsewhere, Money Metals offers alternative depository locations both inside and outside of the United States.

Loans

Customers who’ve chosen to store their precious metals in the Eagle, Idaho Money Metals Depository location have the option to borrow against their assets. Requiring a minimum valuation of $35,000, customers can take out loans starting at $25,000 up to 75% of their total asset valuation. However, specific limitations do apply to these loans, so we recommend looking at the terms and conditions before relying on loans through Money Metals Exchange.

Comparable Services

While Money Metals Exchange exceeds at providing a superior service, it’s certainly not the only platform offering similar—or nearly identical—services. Just as with stock trading platforms, different companies will impose different limitations and offer distinct advantages. One such example is APMEX, which offers free shipping on orders over $199 (less than MME) but charges a minimum of $180 per year for storage (more than MME). Another alternative is Acre Gold, which allows layaway purchases of gold bars, but doesn't provide transparent pricing as Money Metals Exchange does. It’s always worth doing research before deciding to use a new platform to invest in precious metals.

Summary

Throughout this Money Metals Exchange review, we’ve established that the platform is pretty good overall. However, it does have a few drawbacks, the most inconvenient one being the single purchase per order limitations. As with any online bullion exchange, we recommend comparing prices with the competitors before selling metals to ensure you’re receiving the best offer. This isn’t specific to Money Metals Exchange though; any bullion exchange may undervalue your metals to turn a profit.
Despite these few disadvantages, we would still recommend Money Metals Exchange overall. Conveniently providing selling, buying, storage, and loan opportunities on a single platform, the company may not be revolutionizing the bullion exchange industry, but it’s certainly keeping the standards high. If you’re ready to try your hand at investing in precious metals, click here to see the latest prices!