Orion Metal Exchange vs Provident Metals – Which is Right for Your Investment?
When considering precious metals investment, choosing the right company is crucial. In the comparison of Orion Metal Exchange vs Provident Metals, we scrutinize key factors that can influence your decision. From IRA services and fees to the diversity of products offered, and company reputations, we provide straightforward insights helping you determine which provider aligns best with your investment needs.
Key Takeaways
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Orion Metal Exchange is a reliable gold IRA company offering customizable precious metals IRAs with competitive fees, including $175 for annual storage and insurance, with no setup or rollover fees, catering to investors looking for personalized retirement options.
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Provident Metals offers a broad spectrum of precious metals such as gold, silver, platinum, and palladium along with collectibles, with flexible payment options including credit cards and Bitcoin, despite facing legal allegations and ongoing lawsuits.
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Both companies provide diverse investment options in precious metals and have positive customer service reputations, but Orion Metal Exchange is preferable for low fees and tailored IRA services, while Provident Metals is suitable for collectors and a wide array of products.
Orion Metal Exchange Overview

Orion Metal Exchange, a reputable gold IRA company, operates extensively in the precious metals industry, with a focus on IRA investment options and secure storage solutions. It’s one of the gold IRA companies that offers a higher level of customization compared to other providers, allowing investors to tailor their precious metals IRA to their specific needs.
Key features of Orion Metal Exchange include gold IRAs:
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Annual storage and insurance costs for a gold IRA amounting to $175
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Minimum investment requirement of $10,000
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Competitive fees
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Adaptable arrangements
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Fee-free buyback policy
These features make Orion Metal Exchange a great option to purchase precious metals.
Jacob Blalock, the CEO and co-founder, has led Orion Metal Exchange to adhere to the standards and regulations established by the Industry Council for Tangible Assets (ICTA) and the Numismatic Guarantee Corporation (NGC) for managing precious metals IRA accounts, providing a reliable and trustworthy platform for investors.
Services Offered
Orion Metal Exchange provides a diverse range of precious metal coins for investment, positioning it as a solid choice for your precious metal investment journey. They provide a selection of Gold American Eagle and Gold Canadian Maple Leaf coins, along with gold bars in different sizes and availability, catering to the precious metals market. Their gold IRA comes with competitive pricing, including low storage fees, no setup and rollover fees, and below-average prices for their precious metal coins and bars.
Their diverse precious metal coin offerings make them a compelling choice for precious metals investing. They offer:
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Gold coins
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Silver coins
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Platinum coins
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Palladium coins
Their services are designed to cater to a range of investor needs, offering a comprehensive suite of investment services.
Company Reputation
With a flawless BBB rating and a 4.9-star rating on Trustpilot, Orion Metal Exchange competes strongly with other companies like Birch Gold Group. Their BBB accreditation and the absence of any customer complaints listed on the Better Business Bureau website further solidify their reliability for precious metal investing.
Customers have provided positive reviews specifically for the sales staff and setup process of Orion Metal Exchange. Their commitment to exceptional customer service and customer satisfaction is reflected in their commendable rating on Trustpilot, making Orion Metal Exchange one of the top precious metal dealers in the industry.
Provident Metals Overview

Since its establishment in 2009, Provident Metals swiftly earned recognition as a leading provider of both international and domestic bullion, including IRA-eligible metals. They are esteemed for their prudent decision-making and are a trusted platform for buying and selling precious metals. They specialize in a wide range of precious metals, including gold, silver, platinum, and palladium, and also offer various collectibles, such as government-issued silver coins, silver rounds, gold bullion coins, and bars from renowned mints.
As part of their specialized services, Provident Metals offers secure storage options designed to safeguard their clients’ investments. They also accept a range of payment methods, such as Visa, MasterCard, American Express, Discover credit cards, PayPal for online transactions, bank wire transfers, and Bitcoin, providing flexibility and convenience for their customers.
Services Offered
Provident Metals offers an array of precious metal products, encompassing gold, silver, and platinum bullion, in addition to gold coins, bullion bars, and rounds. They offer a diverse selection of silver products, encompassing silver bullion coins, silver bullion bars, government-issued silver coins, privately minted silver rounds, and specialty silver items.
For those interested in platinum and palladium, Provident Metals does indeed provide platinum and palladium coins and bars. Additionally, they offer a selection of collectible coins and rounds for purchase, appealing to those who are not just investing, but also collecting.
Company Reputation
Despite facing some legal disputes and significant accusations, Provident Metals has maintained a positive reputation with organizations such as the Better Business Bureau and TrustPilot. They have been accused of engaging in the sale of counterfeit precious metals, and there is an ongoing commercial breach of contract lawsuit involving A-Mark Precious Metals Inc et al, directly involving Provident Metals.
However, despite these challenges, Provident Metals continues to maintain a positive reputation with organizations such as the Better Business Bureau and TrustPilot. Investors are advised to carefully review the details of these allegations and await their resolution.
Comparing Investment Options

In terms of investment options, both Orion Metal Exchange and Provident Metals provide a diverse selection of:
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gold
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silver
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platinum
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palladium coins and bars for investment.
Each company has a diverse range of precious metals to choose from, allowing investors to tailor their investments to their specific needs and preferences.
It’s worth noting that while Orion Metal Exchange offers a variety of gold coins for investment, Provident Metals provides gold bullion coins and bars as investment choices. For silver investments, investors have the opportunity to access a diverse selection of silver coins and bars for investment at Orion Metal Exchange, while Provident Metals provides a range that encompasses 1 oz to 100 oz silver bars, government-issued silver coins in BU and Proof condition, and privately minted silver rounds. Both companies also provide investment opportunities in both platinum and palladium.
Gold Investments
Both companies offer a broad array of gold investment options, including a variety of coins and bars. At Orion Metal Exchange, customers can choose from a diverse selection of gold coins and bars. The options include:
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IRA Approved Gold Bars available for purchase
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Gold American Eagle coins
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Gold Canadian Maple Leaf coins
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Gold bars in different sizes and availability
These options cater to the precious metals market.
On the other hand, Provident Metals offers a wide range of gold investment options, such as gold bullion coins and bars, as well as fractional gold coins. They offer a diverse range of gold bars in different shapes and sizes, including popular options like 1 oz and 10 oz bars, along with smaller sizes such as 1 gram and 5 grams.
Silver Investments
Orion Metal Exchange offers a wide array of silver investment options, featuring a selection of coins and bars in various sizes and conditions to meet the needs of investors. Their selection of silver coins and bars for investment make them a viable option for those interested in silver investments.
Provident Metals offers a diverse selection of silver products, including:
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Silver bullion coins
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Silver bullion bars
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Government-issued silver coins
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Privately minted silver rounds
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Specialty silver items
Their wide selection of silver products gives investors an array of choices when considering silver investments.
Platinum and Palladium Investments
For those interested in platinum and palladium investments, both Orion Metal Exchange and Provident Metals offer options. Orion Metal Exchange offers a limited selection of palladium options, such as Maple Leaf and American Eagle coins in one-ounce increments, while Provident Metals provides a wider range, including palladium bullion bars and coins.
On the platinum front, Orion Metal Exchange offers platinum coins and bullions, while Provident Metals provides a wider range of options including platinum bullion coins, rounds, and bars. It’s interesting to note that at Orion Metal Exchange, palladium is generally a more cost-effective investment compared to platinum, despite being a rarer metal.
Comparing Fees and Pricing
In terms of fees and pricing, Orion Metal Exchange provides low storage fees and competitive prices for precious metals. Their annual storage and insurance fees amount to $175, and they do not impose any transfer or account setup fees for their Gold IRA services. Their transparent pricing system for transaction and management fees ensures investors are well-informed about all costs associated with their investment.
On the other hand, the transaction and management fees for Provident Metals are variable and depend on the chosen provider. They provide a 4% cash discount for orders paid through bank wire or ACH/eCheck, which is applicable to orders up to $100,000. However, they may impose administrative fees for insufficient funds paper check payments.
Storage and Insurance Fees
When it comes to storage and insurance fees, Orion Metal Exchange charges a yearly fee of $175. They also provide complimentary one-year storage, insurance, and a custodian for investments totaling $30,000 or more. Orion Metal Exchange does not impose any transfer or account setup fees, thereby providing a cost-effective solution for investors.
On the other hand, similar to Orion Metal Exchange, Provident Metals does not impose any charges for setup or transferring assets. However, their fees for precious metals IRAs are determined by the trust and provider, resulting in potential variation based on the specific arrangement.
Transaction and Management Fees
Orion Metal Exchange ensures transparency in their pricing system for transaction and management fees, and provides clear information on their website. They impose a storage and insurance fee of $175 annually, and their annual IRA account fee varies from $150 to $225 based on the invested amount.
On the other hand, the transaction and management fees for Provident Metals are variable and depend on the chosen provider. They provide a 4% cash discount for orders paid through bank wire or ACH/eCheck, which is applicable to orders up to $100,000. However, they may impose administrative fees for insufficient funds paper check payments.
Customer Service and Support

Considering the customer service and support is essential when selecting a precious metals investment company. Orion Metal Exchange delivers a professional and user-friendly customer service experience, offering clear explanations. Their customer service hours, however, are not specified on their website. They can be reached via phone at (800) 559-0088 and through their website for any support or inquiries.
On the other hand, Provident Metals provides customer support through their website FAQs, policies, and a toll-free phone number for inquiries. Their customer service is available from 8am-6pm Central, Monday to Friday, and can be contacted through their phone number (800) 313-3315 and the contact options available on their website.
Gold IRA Services Comparison
When it comes to gold IRA services, both companies offer unique benefits. Orion Metal Exchange is known for its expertise in IRA investment options. Additionally, they offer secure storage solutions for their clients. Initiating a Gold IRA with Orion involves engaging in a phone discussion with a representative, as the complete online setup is not facilitated. However, some clients have reported being able to establish an account swiftly, occasionally within a timeframe of less than 15 minutes.
On the other hand, Provident Metals offers a wide range of products, including:
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Bullion
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Currency
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Numismatic coins
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Other investment-grade metals
They serve the needs of collectors and individuals seeking a diverse selection of products. While they do not impose any charges for setup or transferring assets, their fees for precious metals IRAs are determined by the trust and provider, resulting in potential variation based on the specific arrangement of a precious metals ira account.
Security and Storage Solutions
Security and storage solutions are critical aspects of precious metal investments. Orion Metal Exchange ensures the secure storage of precious metals by:
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Utilizing commercial depository options
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Advising clients to opt for safety deposit boxes at banks for added physical security
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Establishing partnerships with reputable storage providers to provide insured storage solutions.
On the other hand, Provident Metals safeguards precious metals by recommending storage in a controlled environment to preserve their value and suggesting placement three layers deep to discourage theft. Both companies are committed to ensuring the safety of their clients’ investments, offering secure storage options as part of their specialized services.
Final Verdict: Orion Metal Exchange vs Provident Metals
A thorough analysis and comparison reveal that both Orion Metal Exchange and Provident Metals provide a spectrum of investment options and services for precious metal investors. Each provides unique benefits and caters to different investor needs and preferences.
Orion Metal Exchange may be more suitable for those looking for low fees and tailored gold IRA services, with their higher level of customization and competitive fee structure. On the other hand, Provident Metals may appeal to collectors and those interested in a wider range of products, with their diverse selection of precious metal products and collectibles.
Ultimately, your investment requirements and preferences should dictate your decision.
Summary
In conclusion, both Orion Metal Exchange and Provident Metals are formidable players in the precious metals industry, each offering unique benefits to prospective investors. Orion Metal Exchange shines with its low fees, tailored gold IRA services, and exceptional customer service. Provident Metals, on the other hand, offers a wide range of products and specializes in collectibles, providing a unique appeal for collectors.
It’s clear that both companies have carved out their respective niches in the precious metals market, and the choice between the two ultimately boils down to personal investment goals and preferences. Whether you’re a seasoned investor or just embarking on your precious metal investment journey, both companies offer compelling options to consider.
Frequently Asked Questions
How much does Orion Metal Exchange charge?
Orion Metal Exchange charges an annual fee between $150 and $225 for their IRA accounts, depending on the amount you invest and the storage location of your precious metals. This fee is competitive and comparable to other precious metals IRAs.
Are investments in precious metals included in asset class?
Yes, it’s beneficial for investors to consider precious metals as a separate asset class, distinct from other commodities and alternative investments. Allocating a portion of the portfolio to precious metals can enhance diversification and potentially improve portfolio efficiency.
What are the main services provided by Orion Metal Exchange and Provident Metals?
Orion Metal Exchange provides gold and silver investment services, while Provident Metals is an online retailer offering a diverse selection of bullion, currency, numismatic coins, and investment-grade metals. Both companies cater to the needs of investors and collectors seeking precious metals.
Are there any setup or transfer fees for Gold IRAs with Orion Metal Exchange or Provident Metals?
No, neither Orion Metal Exchange nor Provident Metals charge setup or transfer fees for their Gold IRA services, making them a cost-effective option for investors.
What are the storage and insurance fees for Orion Metal Exchange and Provident Metals?
Orion Metal Exchange charges a yearly fee of $175 for storage and insurance, while the fees for precious metals IRAs at Provident Metals vary depending on the trust and provider. Consider these costs when making your investment decisions.