Last Updated on March 7, 2023 by George
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Today’s market is flooded with many precious metals firms, making it challenging for investors to select the finest.
Some people even fear being scammed since they may need to be made aware of which businesses are reliable and trustworthy and which are con artists.
In this area of investment, there have been some scam incidents. We will examine Texas Precious Metals today.
This guide will clear up any confusion about the business, including the services and products related to precious metals and how it stacks up against competitors.
Let’s get started!
Texas Precious Metals was founded in that year. Since its founding, the business has grown to be the most prominent precious metals dealer in the US. They originated in Shiner, Texas.
The American Precious Metals dealer is a part of the Industry Council for Tangible Assets, the Certified Coin Exchange, and the American Numismatic Association (ANA) (ICTA).
With only 12 employees as of 2014, the company’s annual revenue was $153.3M. The business has handled client transactions totaling more than $500 million since its founding in 2011.
The business has a retail facility in Texas and an online presence.
The firm was named the top-growing Aggie-led or Aggie-owned business globally in 2014 by Texas A&M University. Inc Magazine listed it as the 200th fastest-growing American private company in 2015.
TPM aims to give customers value through high-quality items, affordable prices, simple ordering, and devoted customer service.
The business website is an excellent resource because it is straightforward for clients to explore and provides them with helpful information.
Texas Precious Metals Products and Services
- The company primarily sells gold and silver bars and coins. Platinum and palladium are also available. The business keeps a sizable stock of precious metals. Precious metal IRAs accept various bars and coins made of precious metals.
- Below are some of the company’s metal goods that qualify for IRAs.
- Gold-based goods
- Gold American Buffalo \sGold The Maple Leaf of Canada
- Eagle American Gold
- Gold Philharmonic of Austria
- Australian Gold Products Kangaroo Silver
- Canadian Silver Britannia Pronghorn Antelope
- U.S. Silver Eagle
- Platinum Maple Leaf Products are made in Canada.
- American Platinum Eagle and Canadian Platinum Maple Leaf
Are Precious Metals a Good Investment?
When compared to other investment possibilities, many individuals wonder if precious metals are a safe option to think about. The value of precious metals is more like an insurance policy than an investment.
Investments are supposed to provide revenue, however precious metals are not considered an income-producing asset. Dead assets include gold and other precious metals. This means that instead of being money makers, they serve as wealth stores.
Investment in gold becomes intriguing when its price is low compared to other assets. If gold’s nominal value remains constant, but other asset classes see a 50% decline, the investor’s purchasing power has improved by a factor of two.
In this instance, although the price of gold has not increased in absolute terms, gold is relational.
Other factors supporting the notion that precious metals make suitable investments include:
- Because precious metals have inherent worth, there is no credit risk.
- Offer protection from inflation
- They offer portfolio diversification because they are unconnected to other investments like bonds and stocks.
Does Texas Precious Metals Offer IRAs?
Texas Precious Metals provides IRA rollover services to its clients. Investing in precious metals is simple with self-directed IRAs.
The business has a team of experts who have committed their time and skills to simplify the investment planning process for customers.
The following basic steps make opening a self-directed IRA with TPM simple and hassle-free.
- They are locating a trustee or custodian for the account. Customers can select a custodian of their own or have the company introduce them to reputable, legitimate, and verified custodians.
- Pay the account.
- Choosing the investment or precious metals combo
- Select a repository.
- Purchase the pricey metals. Once the custodian sends a wire transfer payment to the company, the corporation transports the precious metals to the customer’s depository.
The company’s personnel is constantly present and prepared to assist clients with every step of the self-directed IRA creation process.
Options for a rollover with Texas Precious Metals include:
- Personal IRA
- Conventional IRA
- IRA Roth
- SEP \sCoverdell
- Simple \sHSA
International Storage
To provide its clients with extra storage alternatives, the business also formed partnerships with other outside storage vaults. Strategic Wealth Preservation (SWP), a Cayman Islands storage facility, and Texas Precious Metals joined forces.
One of the most secure and prestigious storage facilities in the world for precious metals is the newly constructed precious metals repository. The storage facility for precious metals is privately run and privately owned.
It enables North American investors to globalize their physical assets because it is the most convenient and best solution for offshore storage. For self-directed IRAs for precious metals, SWP is an approved storage location.
For the following reasons, SWP is a top choice for global storage:
- Comprehensive protection
- Strong security
- Vaults with class 3 high security
- 100% designated and separate
- Unknown place
- Withdrawing quickly
- Absolute discretion
- Depository safes
- Immediate ownership
Investors can save with Strategic Wealth Preservation with confidence because it is a risk-free solution.
Storage Options
Finding safe storage for your bullion is crucial after purchasing your metals. A long-term storage option for IRA clients and individual investors is the Texas Precious Metals Depository.
The business operates an underground class 2 and 3 vaulting and logistics facility that is appropriately rated and fully insured by Lloyd’s of London.
Long-term business storage, short-term client storage, and retail shipping and packaging are all done in high-security vaults. The following reasons make the company’s repository an excellent and cost-effective storage choice:
- Affordable monthly fees
- No costs for withdrawal
- No setup fees and a simple 3-step setup procedure
- 100% insured by Lloyd’s of London – The insurance coverage responds to the current market conditions and covers the total value of the metal.
It also includes all types of destruction, such as internal and external theft, fire, flood, and other natural disaster-related destruction. - No security is outsourced
- Private, individually sealed, entirely separated storage of the precious metals eliminates any possibility of blending or allocation.
Can You Sell to the Company?
Customers have the option to sell their shares back to Texas Precious Metals through the company’s buy-back program. The company lists the buy-back price for each product on its website, and everyone purchases unsold inventory.
The selling procedure is simple.
- Call the business during business hours to secure your selling price.
Send the gold bullion to the business within 24 hours. - Door-to-door pickup and delivery are available through the business, but consumers can also choose their own shipping and insurance company.
Customers will be required to pay a specific fee for the company’s shipping services for purchases over $1,000.
The business then emails the customer to arrange for overnight delivery the following day.
Shipping Options
TPM follows the dictum “if we don’t have it, we don’t sell it,” unlike the majority of dealers who offer products they do not have. Consequently, there is a guarantee of immediate shipment because the business only sells items that are in stock.
Orders are shipped by the business three business days after payment has been received. A adjustment is done straight away if the company misses this opportunity, which is uncommon.
Customers receive an email with a tracking number to track a product’s delivery when it is shipped. All shipments are covered by insurance while in transit, and if a shipment is stolen or damaged, the company must file a claim and send the customer a replacement.
Texas Precious Metals Reviews
Before deciding to work with a firm, it is strongly advised to read several client reviews and web ratings about that company. Despite annual revenues in the billions, a corporation might receive negative ratings.
The following are some evaluations of Texas Precious Metals from various review websites.
Yelp: 5/5 overall based on 19 reviews
BBB: has a 5/5 A+ rating based on two reviews.
Customers have reviewed the business, and many reviews show that customers are happy. Most clients have earned high business marks and even five stars.
There have, however, few cases of unhappy customers. A customer reported that the business used his credit card without his permission and made unlawful purchases; he even urged other customers not to trust the business and gave them one rating.
We are unsure of how the business handled its dispute with this client.
Partnership with Goldstar Trust
According to Goldstar Trust Company, the Texas Precious Metals Depository has been added to the list of storage alternatives for customers. TPM chose to collaborate with the business for custodial services since it is one of the biggest custodians of precious metals self-directed IRAs.
Through their alliance, the two businesses will be able to provide their respective clients with more turnkey services.
This means that customers of Goldstar Trust Company now have another storage choice that is secure, reasonably priced, and completely segregated.
The Texas Precious Metals depository features highly secure underground vaults of classes 2 and 3 that are fully guaranteed by Lloyd’s of London.
Customers of Goldstar Trust will have access to the TPMD’s good storage option, which is fully segregated and individually sealed with no danger of mingling with the holdings of other investors.
Customers of TPM, on the other hand, will benefit from the reputable and lawful custodial services provided by Goldstar Trust Company.
Final Thoughts – Texas Precious Metals Review
Great yet few user reviews can be found for Texas Precious Metals. The company is relatively young, which is why there are so few reviews.
Because there aren’t many reviews on other customer review platforms like Trustlink and Trustpilot, the business lags behind its rivals.
The business has garnered numerous awards from various organizations, including recognition as the fastest-growing precious metals dealer by Texas A&M University in 2014 and Inc Magazine in 2015.
Texas Precious Metals is a respectable precious metals dealer based on a 4/5 overall rating.
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