Schiff Gold Review
In every phase of the economy, investing in precious metals is an important part of any portfolio. Precious metals such as gold and silver are often considered a safe haven in times of stability and turmoil and have been used as currency for thousands of years.
Precious metals serve as a hedge against inflation, rising interest rates, and currency devaluation, giving investors the potential to protect and even increase their wealth.
Precious metals have also proven to be less volatile than stocks and bonds, making them a reliable long-term asset for those looking for stability. Investing in these precious metals can help generate wealth and protect against the devaluation of paper currencies like the Dollar.
Additionally, investing in physical precious metals such as gold or silver can give investors peace of mind that the value of their investments won’t be affected by political or economic forces.
Those looking for secure ways to grow their wealth should consider investing in gold or silver as part of a well-rounded portfolio strategy that takes into account both short-term goals and long-term objectives.
To help you choose the right precious metal provider for diversifying your investment portfolio, we looked into many providers of precious metals and came up with our honest reviews of different providers running in the US market.
Table of Contents
To help you choose the right precious metal provider for diversifying your investment portfolio, we looked into many providers of precious metals and came up with our honest reviews of different providers running in the US market.
If you wish to learn about our top 5 precious metals investment companies, click on the link below.
With that being said, let´s continue with the review on SchiffGold.
About SchiffGold
Owner: Peter Schiff
Location: Manhattan, New York
Products: Precious Metals
Google: 4.8/Out of 5-star rating
Better Business Bureau: Not Listed
BCA: Not Listed
Consumer Affairs: Not Listed
IRS regulations: 100% Compliant
Headquartered in midtown Manhattan, Peter Schiff- the owner of SchiffGold started the company in 2010, and since then is providing its clients with quality services in precious metals and many other products.
The company offers services like gold IRA rollover, vault storage, safe storage, estate sales, and employment opportunities. You can buy and sell gold, silver, palladium, platinum, coins, bars, and bullions.
It offers barter metals and many informative articles for its clients to help in making informed decisions when investing in tangible assets. The owner Peter Schiff is a financial advisor and does blogging for its clients at SchiffGold.
Providing live price rates, cryptocurrency payment options, and 4.9/Out of 5-star ratings and reviews by its past clients.
Schiff Gold Products and Service Offerings
SchiffGold offers gold and silver coins, bars, and bullions. It does not offer numismatic coins as it is marked up greater than the original value, it is difficult to resell coins at a profit, and its market is based on sales commission.
Its services include;
Gold & Silver IRA Rollover: it offers precious metal IRA rollover, allows conversion of 401(k) investment to precious metals IRA, and rollover into your existing IRA.
Vault Storage: it offers storage services by offering a list of its partnered depositories. These are the most trusted and renowned depositories in the country providing highly secured and insured vaults.
Estate Sales: it offers services of buying large estates, precious metal coins, bars (gold, silver), and big lots of jewelry in the New York City area, New Jersey, and northern Delaware.
Safe Storage; The company representatives offer suggestions and advice on storage options to customers who wish to have their precious metals at home.
How to Buy Precious Metals with Schiff Gold
SchiffGold has a simple and easy-to-understand process of acquiring precious metals. It s a four-step simple process which is as follows:
Step-1: Contact
The very first step of buying precious metals at SchiffGold is to contact a company representative via live chat, email, or filling out an order form.
Step-2: Place Order
Secondly, place your order. The company representative would also guide you with information as to which metals are good and which are not good as per the market conditions.
After you have placed your order and discussed all your order details, the representative sends you a confirmation email with the details of your purchase.
Step-3: Payment
After confirmation of your order, you can send the payment via bank wire into SchiffGold Customer Account. The payment is usually received in 24 hours but the company takes almost 5 days for double checking and clearance.
You can also pay via check but it takes comparatively longer in shipment than bank wire.
Step-4: Shipping
The final step of the process is shipping your order. The company offers shipping services via US Postal Service, UPS, or FedEx. The packages sent are at full discretion and fully insured via Lloyd’s of London.
Your order will normally take 1-2 days in processing, whereas shipping will take 2-4 days to arrive. The company offers shipping services overseas also.
Gold
Gold Coins
- Gold American Eagle (1-ounce, 1/2-ounce, 1/4-ounce, 1/10-ounce)
- Gold Canadian Maple Leaf (1-ounce, 1/2-ounce, 1/4-ounce, 1/10-ounce)
- Gold Krugerrand
- Gold Vienna Philharmonic
- Gold Australian Kangaroo
- Gold Fractional Coins
Gold Bars
- Valcambi Combibar
- Gold Bar- 1 oz
- Gold Bar -1 Kilo
Silver
Silver Coins
- Silver American Eagle
- Silver Canadian Maple Leaf
- Silver Barter Bag
- Silver Vienna Philharmonic
- Silver Rounds – 1 oz
Silver Bars
- Silver Bar – 10 oz
- Silver Bar – 100 oz
- Silver Bar – 1000 oz
Check out in the video below what Mike Maharrey- managing editor, has to say about gold and silver.
Platinum
- Platinum American Eagle – 1 oz
- Platinum Canadian Maple Leaf – 1 oz
Palladium
- Palladium Canadian Maple Leaf
Barter Metals
Barter Gold
- Valcambi CombiBar
- Canadian Maplegram
- Fractional Gold Coins
Barter Silver
- Barter Bag
- Junk Silver
Limited Edition Bullion
- Canadian Gold Cougar (IRA-eligible)
- Canadian Gold Wolf (IRA-eligible)
How to Sell Gold & Silver with SchiffGold
If you are looking for a precious metals provider that provides services to purchase your precious metals, then SchiffGold is your answer. It has three easy steps to purchase your precious metals.
Step-1: Contact
Firstly, you would have to contact the company representative. You can contact the company representative via live website chat, call, or email. All the instructions for the process would be communicated by the specialist depending on the product which you wish to sell and your location.
Step-2: Ship/Drop Off
You can either ship your product via your favorite carrier, fully insured or you can either drop off your package at any of SchiffGold’s offices around the US including, New York, Delaware, Las Vegas, Dallas, and Los Angeles.
You can also send the package to any of the international centers in Toronto, Zurich, and Singapore.
Step-3: Receive Your Payment
Once your package arrives, it would be authenticated by the company specialists. After authentication, your pre-determined payment would be sent via check or bank wire.
Buy-Back Program
The company offers a buyback program to its customers wanting to sell their precious metals bought from SchiffGold or from any of its competitors.
For sending your precious metals to the company simply contact a company representative and discuss the details of your product. The company’s website also states certain guidelines to prepare the package for sending.
How to Open Gold IRA with Schiff Gold
Having your retirement savings in a safe IRA is the best thing anyone can do. You can select metals or buy physical precious metals and then add them to your IRA. With SchiffGold, you can secure your dear savings in three easy steps.
Step-1: Start a Qualifying IRA
You can either create a new IRA or rollover your existing account into precious metal IRA. The company representative will take care of all the paperwork.
Step- 2: Choose Your Products
To diversify your retirement portfolio, the company specialist would guide you in selecting the right metals for your IRA. You can choose, gold, silver, platinum, and palladium, coins, bars, or bullions.
Step-3: Deposit Your Bullion
After selecting your precious metals, you can inform your custodian who would wire the payments to SchiffGold. Once done, your precious metals would be delivered to your pre-determined depository vault.
Payment Services
To buy any product from SchiffGold, you would have to contact a company representative as you cannot buy online from the website.
SchiffGold allows different payment methods to complete your investment diversification process. You can either pay via wire transfer or check, or you can either pay using BitPay. BitPay is a payment option for bitcoin using customers.
Custodial & Storage Services
The company does not offer custodial or storage services, but partners with a number of companies to provide its clients with a list of custodian and depository companies to work with.
It also provides its customers with the option of saving their precious metals at home providing safe storage solutions. It provides vault storage services partnering with Transcontinental Depository Services.
Shipping Services
SchiffGold ships your packages fully insured and with full discretion. You can expect your package to be delivered either by the U.S. government postal service corporation, FedEx Corporation, or the United Parcel Service, UPS Shipping Company.
SchiffGold Fees
The fees associated with SchiffGold are unclear on the company website. You would have to contact a company specialist to determine the products and finalize the costs.
Point of Difference
The company offers blogs and articles on precious metal investment, provides market analysis, and suggestions about the best time to invest in tangible assets.
It also provides knowledge related to the price rates, live precious metal prices, and historical prices. The company also provides gold ratios to help in making informed investment decisions. It als provides free IRA kit to guide its customers.
Along with the buying and selling of gold, silver, platinum, and palladium, the company also offers to buy large quantities of jewelry and estates.
It has differentiated itself by providing precious metals at home, which many of its competitors do not provide.
Pros and Cons
Pros
- It provides quality, knowledgeable articles, and blogs.
- Offers buyback program
- Provides home safes and storage vault options.
- Offer cryptocurrency payment method.
- Prices are competitive.
- It offers to buy jewelry and estate option.
Cons
- Unable to buy metals online
- There are no reviews available on trusted websites on the internet.
- The process of rolling over existing IRAs into precious metals is complicated.
- The fee structure is not available on the website.
Final Thoughts
In conclusion, SchiffGold is a good provider of precious metals. Although, there are not many reviews online available the very few presents are all positive.
Where the company has some disadvantages of unclear fee structure, complicated IRA rollover, etc, the company also has some advantages like competitive pricing, cryptocurrency payment method, and much more.
The best company for you is the one that offers you what you are looking for and therefore, it is always best to learn about all the other precious metals providers running in the market.
We hope you’ve enjoyed this review of Schiff Gold.
What IRA company do we recommend?
After researching over 100 companies, they were the clear #1 choice.
- Rated the most trustworthy
- Best Advisors - great strategies and not pushy
- Best for price and free add ons
