Choosing a company that can help you invest your hard-earned savings can sometimes be difficult. This review focuses on Schiff Gold and whether the company is the right choice for your investment in precious metals.
What is Schiff Gold?
Schiff Gold is a New York-based company that deals in precious metals like coins, bars, and bullions. Launched in 2010 as Euro Pacific Precious Metals, the company was renamed Schiff Gold in 2014.
Company owner Peter Schiff, who has decades of experience in the financial industry, joined hands with other precious metal specialists to help investors create wealth by investing in precious metals and to ensure their clients have a secure post-retirement future.
Before we continue...
We have worked very hard to review, research and reveal the most important pieces of information that investors need to know before investing their money. We have been able to narrow a list down to the top 5 gold IRA companies.
I recommend you check the list before proceeding with any IRA transfer.
Quick answer: Augusta Precious Metals is our #1 recommendation for multiple reasons, including their
A+ BBB rating, thousands of top rankings, and Money magazine’s selection of them as “Best Gold IRA Company.” PLUS, they will pay all custodial and storage fees for up to 10 years!
Schiff Gold complaints
Although Schiff Gold has been in the market for more than a decade, there are not enough reviews about the company. It has few reviews on Google and Yellow Pages, and no reviews on Trustpilot and Better Business Bureau (BBB). Schiff Gold is not BBB-accredited and has no information on Trustlink.
Users will only be able to find some consumer testimonials on the company’s website. Another odd fact about the company is that it does not list its precious metals online. Potential investors have to contact the company’s representative to request for a purchase quote.
It’s true that the market reputation of owner Peter Schiff is a plus for the company. But the lack of independent reviews makes it difficult to figure out if Schiff Gold offers a competitive pricing structure as claimed.
What services does Schiff Gold offer?
Schiff Gold offers a variety of products and services, with the leading product being precious metals in the form of bars, coins, and bullions. Whether you are looking to invest in or want to sell precious metals, Schiff Gold will help you get the best deal in the market.
The primary services offered by Schiff Gold include:
If you are a first-time investor in precious metals, Schiff Gold can provide you with a lot of valuable information and guidance to help you make the right choice. If you have already invested in gold and want to sell it off, the company can help you get a fair deal for your investment.
As with traditional IRAs, investors can also start precious metals IRA with Schiff Gold. You can also add precious metals to your existing IRA, roll over the old IRA to a new one, or convert your 401(k) investment to precious metals IRA.
Schiff Gold works in association with both domestic and international vault companies to keep your precious metals in safe custody. They can also make necessary arrangements if you want a full-security vault facility at home.
Schiff Gold helps clients stay updated with the latest market developments relating to precious metals. Investors can follow the company’s social media accounts to gain access to old commentary records, real-time price updates, and the FAQ section.
What does Schiff Gold offer that its competitors don’t?
Schiff Gold claims to offer the most competitive rates for precious metals in the market. The company provides the most recognizable and liquid bullion products for investors.
Schiff Gold investors can opt to keep their precious metals at their home safe instead of keeping them with a custodian. This facility is usually not offered by competitors.
Schiff Gold does not provide any information on its official website relating to the fees charged for its services. Potential investors who are interested in investing in precious metals with the company need to contact a specialist to help in finalizing the selection of the right investment option.
Upon finalization, the investor receives an email containing information about the total cost of investment, fees charged, package insurance information, and shipping information, among others.
Can I trust Schiff Gold?
Schiff Gold is a reliable company. However, there are mixed reviews about the reputation of Peter Schiff and his theory on precious metals investment.
Although Schiff Gold is not accredited by the BBB, it has been in the market for more than a decade which speaks about the reliability and authenticity of the service provider.
However, the few independent reviews about Schiff Gold services makes it complicated to know much about the company from its existing and past customers.
Pros & Cons
Related: Best Gold IRA Companies, Best Silver IRA Companies, Goldco Review, American Retirement Savings Statistics
Prospective investors can avail of a variety of options including bank wire transfers, payments through checks, and Bitcoins such as BitPay. Unfortunately, there is no option for online purchases.
Schiff Gold transports its products both within and outside US borders. It usually takes around 1-2 days to process an order and 2 to 4 days for shipping. Also, orders that are settled via wire transfer are processed and shipped faster than those paid via checks.
Schiff Gold conducts client-focused and periodic market research on precious metals to keep investors updated with the latest market developments. It also provides various data resources on several social media platforms that include:
- Original commentaries on archive resources by Schiff Gold
- A live chart on the price for precious metal commodities
- A dedicated FAQ section
Schiff Gold makes use of the services of The United Parcel Service, UPS Shipping Company, the US Government Postal Service Corporation, and the FedEx Corporation for transportation and safe storage of precious metals.