Legacy Precious Metals Review: Your Honest Investment Guide
Investors seeking trust in a precious metals dealer often ask: Is Legacy Precious Metals the secure choice for diversifying my portfolio? In this Legacy Precious Metals review, we give an unbiased take on their services, from Gold IRAs to bullion sales. Discover if Legacy’s reputation, pricing, and customer satisfaction can meet your investment criteria and bolster your financial strategy against market uncertainties.
Key Takeaways
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Legacy Precious Metals has been a trusted provider of gold, silver, platinum, and palladium bullion since 2008, offering a variety of investment options including Gold IRAs, and has received mixed customer reviews reflecting both satisfaction and dissatisfaction.
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The company places a significant emphasis on transparency and customer education, offering extensive educational resources and personalized investment strategies, although pricing specifics are not directly listed on their website.
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Investing with Legacy Precious Metals allows for portfolio diversification and potential wealth preservation, and the company assists with the entire process of setting up precious metals IRAs and making direct purchases of precious metals.
Understanding Legacy Precious Metals
Legacy Precious Metals, established in 2008, owns legacy precious metals and has carved a niche in the precious metals industry with its focus on selling gold, silver, platinum, and palladium bullion coins and bars. Legacy precious metals prides itself on delivering exceptional customer service and competitive pricing.
A quick look at the Legacy Precious Metals website reveals a diverse array of products tailored to investors looking for diversified and solid assets. From Gold IRAs to bullion coins, the company’s offerings are designed to meet the varied needs of precious metal investors.
The Company’s Background
A brainchild of Charles Thorngren, Legacy Precious Metals has its roots in Franklin, Tennessee. With over two decades of experience in financial investments and precious metals, Thorngren has steered the company with a clear vision since 2008. The company is on a mission to offer tools and resources designed to protect wealth and guarantee long-term financial independence after retirement. This focus on client satisfaction has been the cornerstone of the company’s philosophy since its inception.
Gold and Silver Offerings
Legacy Precious Metals’ product portfolio is a smorgasbord of bullion coins, bars, and collectibles, including silver coins. From the American Gold Eagle to the Silver Maple Leaf, the company offers a variety of metals that cater to an investor’s penchant for quality, authenticity, and provenance. For those with a flair for the unique, there are commemoratives like the Newt Gingrich 1oz Silver Coin.
Investors also have the flexibility to buy these precious metals individually or incorporate them into a gold IRA account, paving the way for a tailored investment approach.
Evaluating the Legitimacy of Legacy Precious Metals
For investors, a company’s legitimacy is of utmost importance. Legacy Precious Metals checks this box with its accreditation by the Better Business Bureau and an A+ rating. However, the company paints a mixed picture on TrustLink, with an overall rating of 2.5/5 stars based on three reviews. While some customers laud the company’s helpful customer service and fast product shipment, others express dissatisfaction with delayed responses and inventory misrepresentation.
But the company does shine on Trustpilot with a 5-star rating, reflecting a high level of customer satisfaction. These varying reviews and ratings underscore Legacy Precious Metals’ reputable and legitimate presence in the precious metals industry, despite any claims of legacy precious metals lies.
Transparency and Trustworthiness
Legacy Precious Metals takes pride in its commitment to transparency, particularly in regards to pricing. The company ensures its buy and sell prices are based on the current market spot prices. But there’s a catch. Specific prices are not listed on the website, raising concerns among potential investors about hidden fees. The lack of fee disclosure online can be perceived as a lack of transparency, requiring customers to contact the company directly for details.
Despite these concerns, customers appreciate the company’s rejection of high-pressure sales tactics and commitment to professionalism.
Customer Feedback and Industry Reputation
Legacy Precious Metals’ reputation in the precious metals market shines bright with its A+ rating from the Better Business Bureau and industry accolades. Reviews on Trustpilot reveal a customer satisfaction rating of 3.7 out of 5, with testimonials praising the extended support provided by company representatives. However, the company’s limited online presence and fewer legacy precious metals reviews compared to competitors might impact potential investors’ perception.
Documented customer complaints include allegations of scam involvement, delayed orders, and false advertising, shading some negative experiences into the company’s overall customer feedback.
Investment Benefits with Legacy Precious Metals
Investing in Legacy Precious Metals comes with a plethora of benefits. These benefits make it a compelling investment option for many individuals. The company positions gold as a safe-haven asset, protecting investors from market fluctuations and economic uncertainty. When the economy faces turbulence or high inflation, precious metals increase in value, offering a protective barrier for investment portfolios.
The company offers opportunities for tangible asset investment, thereby addressing worries about stock market crashes or inflation. Moreover, since 2000, gold has outperformed all other asset classes, cementing its position as a solid long-term investment opportunity.
Diversifying Retirement Portfolios
Legacy Precious Metals comprehends the investment wisdom of not putting all eggs in one basket. Diversification helps limit losses, balancing the performance of various assets under changing economic conditions. Precious metals, with their low correlation to asset classes like stocks and bonds, offer a robust diversification tool. By allocating between 5%-15% of their portfolios to precious metals, investors can tailor their investment strategy to their individual goals and risk tolerance.
It’s worth noting that when you purchase precious metals, they offer a compelling alternative to traditional investment vehicles like stocks, real estate, and mutual funds, which carry certain risks and limitations. By investing in real precious metals, you can diversify your portfolio and potentially safeguard your wealth.
Physical Gold vs. Other Asset Classes
The allure of physical gold extends beyond its lustrous beauty. Gold offers:
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Long-term security
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Stability during inflation
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Wealth preservation
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Low correlation with traditional assets like stocks and bonds
Unlike cash, which can lose value during high inflation periods, gold maintains its purchasing power.
Despite daily market fluctuations, the enduring value of gold bolsters its popularity as a physical investment asset. Precious metals like gold, silver, platinum, and palladium enhance portfolio diversification due to their uncorrelated performance with other assets. Even silver, with its consistent demand in jewelry and industrial sectors, and scarce metals like palladium and platinum, offer growth potential and add resilience to retirement portfolios.
Comprehensive Services and Support
Beyond offering a range of precious metal investments, Legacy Precious Metals extends its services to provide comprehensive support to investors. The company provides:
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extensive educational materials including articles, videos, and guides, arming investors with the knowledge to make informed decisions
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a commitment to exceptional customer service, reflected in their collaborative learning approach to investing
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direct shipping of bullion stock, ensuring a full-service experience for clients
Educational Support for Investors
For newbies and seasoned investors alike, understanding the nuances of precious metal investing can be daunting. Legacy Precious Metals steps in to bridge this knowledge gap. The company provides a wealth of educational materials including a downloadable gold guide, resources on different types of precious metal investments, their advantages, and content on the benefits of gold and silver IRAs.
Investors can leverage these resources to create tailor-made investment strategies, benefiting from the company’s focus on educating clients through tailored learning experiences.
Customer Service Excellence
Legacy Precious Metals’ commitment to customer service excellence shines through in their service offerings. The company’s buyback program reflects their commitment to customer flexibility, allowing clients to sell back metals if their personal circumstances change. The company also offers fast, safe, and economical shipping services, including free shipping within the United States.
Online reviews often applaud the helpfulness of the company’s representatives, further bolstering the company’s reputation for exceptional service.
The Process of Investing with Legacy Precious Metals
Investing with Legacy Precious Metals is straightforward, easy, and free of complications. Whether you’re looking to start a gold or silver IRA or make direct purchases of precious metals, the company facilitates every step. From selecting precious metals to choosing a custodian and a storage facility for your physical metals, the company guides you through the process.
And when it comes to making a purchase, the company’s website facilitates live buying, tracking of market prices, viewing order history, and tracking shipments.
Starting Your Gold or Silver IRA
Opening a gold or silver IRA with Legacy Precious Metals comes with its share of advantages. Much like a traditional IRA, a gold or silver IRA offers tax advantages while allowing for the holding of physical precious metals in a secure depository. If you have existing retirement accounts like 401ks or different types of IRAs, you can roll them over into a gold-backed IRA with the company’s assistance. This process can be completed in just a few days without any tax consequences.
Once your IRA account is established, you can monitor your investment 24/7 through a private account provided by the custodian.
Making a Purchase
Making a purchase with Legacy Precious Metals is as easy as a few clicks. The company’s online purchasing platform allows customers to buy metals live, track market prices, view order history, track shipments, and access account information in real time. You can choose from various payment options, including wire transfers, checks, PayPal, cryptocurrency, and even financing options for larger purchases.
Once your purchase is made, the company offers standard, priority, and overnight shipping options, all insured for your peace of mind. And should you change your mind, the company provides a 14-day return policy with a 5% restocking fee.
Comparing Legacy Precious Metals to Other Dealers
As far as product offerings are concerned, Legacy Precious Metals is on par with other leading dealers in the industry. From popular bullion to rare collectibles, the legacy precious metals offers cater to diverse investor preferences. Moreover, the company’s competitive pricing often matches or undercuts competitors’ prices, and its customer service is frequently rated as responsive and helpful.
However, unlike some dealers, Legacy Precious Metals doesn’t offer platinum or palladium, which could be a deciding factor for some investors.
Product Selection and Availability
When it comes to product selection, Legacy Precious Metals doesn’t disappoint. The company offers a variety of gold and silver products, catering to investors’ preferences for provenance, quality, and authenticity. Whether you prefer the American Gold Eagle or the Silver Maple Leaf, the company’s variety of brands and mints ensures you can find the perfect fit for your investment portfolio.
However, compared to other precious metal dealers, Legacy Precious Metals has a more limited range, particularly as they do not offer platinum or palladium like some other precious metals dealers do.
Pricing and Value
In the realm of precious metals, every penny counts. Legacy Precious Metals understands this, offering competitive pricing thanks to its long-standing relationships with various suppliers. The company goes a step further with its price match guarantee, ensuring that customers receive a competitive price point. However, the absence of publicly listed prices on the company’s website could hinder direct price comparisons with other dealerships.
Despite this, the company’s value-added services like free shipping within the United States and volume discounts for larger purchases add more cost savings for customers.
Navigating Investment Risks
Like any investment, precious metals too carry their share of risk. Market volatility due to geopolitical events, market demand, and currency fluctuations can influence the profitability of precious metals. However, Legacy Precious Metals provides market insights that assist clients in making informed decisions about the liquidity of their investments and strategies to mitigate risks from economic downturns or political instabilities that may affect metal prices.
Market Risks and Considerations
Despite the stability offered by precious metals, they remain susceptible to market fluctuations. Factors like geopolitical events, market demand, and currency fluctuations can impact the value of precious metals. For instance:
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Gold can remain consistent in value but may drop during times when demand is lower.
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Silver prices can be influenced by industrial demand and economic factors.
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Platinum and palladium prices are heavily influenced by the automotive industry and global economic conditions.
It’s important to stay informed about these factors when investing in precious metals.
Moreover, trading interruptions in the precious metals market can lead to price shifts when trading resumes. It’s also worth noting that stocks related to precious metals may carry the risk of losing money if the associated mining or manufacturing companies are poorly managed.
Gold IRA Scams Awareness
The gold IRA sphere has its own share of scams, thereby making investor vigilance critical. Some scams are outright thefts, with the company owner disappearing with investor funds. However, Legacy Precious Metals stands as a beacon of legitimacy in the Gold IRA market.
By partnering with a reputable company like Legacy Precious Metals, investors can avoid scams and ensure their investments are secure.
Summary
In conclusion, Legacy Precious Metals offers a comprehensive range of services for those looking to invest in precious metals. From a diverse product range to competitive pricing, extensive educational materials, and exceptional customer service, the company offers an all-inclusive package for both new and experienced investors. However, like any investment, investing in precious metals comes with its share of risks. The key is to understand these risks, diversify your portfolio, and partner with a reputable dealer like Legacy Precious Metals.
Frequently Asked Questions
Is Legacy precious metals legit?
Yes, Legacy Precious Metals is a legitimate company with positive ratings and transparent business practices.
Are precious metals really a good investment?
Yes, precious metals can be a good investment due to their increasing uses, finite nature, and stability over the long term. Consider adding them to your investment portfolio for diversification.
What is the best ETF for precious metals?
The best ETF for precious metals include iShares MSCI Global Gold Miners ETF, iShares MSCI Global Silver&Mtls Mnrs ETF, and VanEck Gold Miners ETF, among others. Choose the one that best suits your investment strategy and goals.
What types of precious metals does Legacy Precious Metals offer?
Legacy Precious Metals offers a range of precious metals including gold, silver, platinum, and palladium in the form of bullion coins and bars, as well as rare collectibles and IRA-eligible coins.
How does Legacy Precious Metals support its customers?
Legacy Precious Metals supports its customers by offering extensive educational materials, exceptional customer service, and a collaborative learning approach to investing, as well as direct shipping of their bullion stock. This ensures that customers have the knowledge and support they need to make informed investment decisions.
