In the realm of precious metals investment, SchiffGold has been boasting a history dating back to its establishment in 2010. As investors navigate the landscape seeking a trustworthy partner, this comprehensive SchiffGold review aims to help you unravel the intricacies of their services.
Here, you can look into their past and evaluate customer experiences. This guide will also highlight unique facets that define its position within the competitive domain of precious metals.
By the end of this guide, you will have a good picture of the type of company this is and whether or not you should pursue any sort of business with them.
But before we get started with this review, here is something important that you should know!
I realize that choosing a company to invest your life saving is an integral decision. Because of this, I do my best to ensure the validity of information mentioned in my articles! I do all of this to guarantee you pick the best financial choices for them.
After carrying out through research and reviewing dozens of companies, I created a list of various gold companies and their reviews. It should help you in deciding the company most suitable for you and your needs.
You can check this list to see if SchiffGold is something I recommend!
Or you can get yourself a FREE Gold IRA Kit from the company I recommend the most below!
Table of Contents
- 1 History Of SchiffGold
- 2 What Does SchiffGold Do?
- 3 Here Are The Reasons You Should Invest With SchiffGold
- 4 Pros And Cons Of SchiffGold
- 5 SchiffGold Services
- 6 Their Market Research And Analysis
- 7 SchiffGold’s Free Guide
- 8 SchiffGold Products
- 9 How To Buy & Sell Your Precious Metals
- 10 Payment Options
- 11 SchiffGold Reviews, Ratings & Complaints
- 12 Frequently Asked Questions
- 13 Conclusion
History Of SchiffGold
SchiffGold is a notable player when it comes to precious metals dealers. This is particularly more so within the domain of companies offering IRA services. Established in 2010, SchiffGold is one of the more seasoned entities in its sector.
The company’s decade longevity is often regarded as one of its strongest attributes, contributing significantly to its overall reputation. SchiffGold is backed by a dedicated advisory team from its New York City headquarters. This is a team that is mainly comprised of top-tier financial experts.
Who Is Peter Schiff?
Distinguished as a talented entrepreneur and remarkably successful broker, Peter Schiff commenced his career as a stockbroker in the 1990s. He started by marking his early tenure at Shearson Lehman Brothers.
After a substantial period with the firm, Schiff ventured into creating Euro Pacific Capital. He did this while forming a dynamic partnership to navigate the intricacies of financial markets. This would not last long, as Peter Schiff’s astute observation saw clients at this company falling prey to shady dealers.
They would purchase numismatic coins and precious metals at inflated prices. The inception of SchiffGold stemmed from recognizing the need for a trustworthy alternative. Hence, this company was established.
Peter firmly champions the idea of collaborative success, and this is mostly achieved through teamwork. This also depends on being surrounded by a group of brilliant minds, which is exactly what you can find within the leadership ranks at SchiffGold.
The individuals listed below have consistently played instrumental roles in assisting Peter when it comes to steering and fulfilling the organizational mandate:
- Executive Director and Senior Precious Metals Specialist – Matt Malleo
- Executive Director and Senior Precious Metals Specialist – Jonathan Sosnay
- Senior Precious Metals Specialist – Joel Bauman
- Senior Precious Metals Specialist – River Allen
- Staff Accountant – Valerie Alikakos
- Director of Technology and Senior Precious Metals Specialist – Fabian Gambino
What Does SchiffGold Do?
SchiffGold stands out as a reputable player in this industry mostly because of its offering of its range of products and services. It is these that cater to both beginners and seasoned investors.
Here are the main aspects you will find attractive when dealing with the company:
1. Buying And Selling Precious Metals
Whether you are taking your initial steps in investing or you are a seasoned pro, the company is backed by a highly professional team. They will ensure that you make informed choices to safeguard your financial future.
For sellers, the company also guarantees competitive prices. Regarding buyers, it commits to offering some of the lowest prices in the market. In both cases, you are looking at some incredible rates.
2. Precious Metals IRA
Planning for retirement involves strategic decisions, and SchiffGold offers a valuable service by facilitating Precious Metals IRA. Investors can include precious metals like gold and silver in their retirement savings.
Whether you want to roll over an old IRA or just want to convert your 401k into tangible assets, this company has your back.
3. Secure Storage Solutions
Recognizing the importance of secure storage for precious metals, the company collaborates with domestic and international vault companies. This partnership ensures that customers’ assets are protected in state-of-the-art facilities.
4. Research And Analysis
Staying informed in the dynamic world of precious metals is crucial. SchiffGold goes the extra mile, and through market research and analysis, they keep clients updated on trends. This is also done through social media channels and an insightful FAQ section.
Here Are The Reasons You Should Invest With SchiffGold
Navigating the precious metals market can be an overwhelming task. This is mostly because of the numerous options vying for your attention. Recognizing the need for a secure and trustworthy option, SchiffGold aims to provide investors with a name they can trust.
- Investing in physical gold and silver is a straightforward concept when dealing with SchiffGold.
- What sets the company apart is its commitment to refraining from selling overpriced collectible and numismatic coins.
- The Precious Metals Specialists here are advisors and trustworthy and knowledgeable partners.
- These specialists take pride in assisting customers in securing their financial future.
- SchiffGold offers some of the lowest prices in the industry.
- They take pride in being the fastest in delivering physical products to customers.
- The Specialists also aim to prioritize establishing long-term client relationships.
- They also maintain the full-service approach of a traditional brokerage house.
Pros And Cons Of SchiffGold
A company that is just a few years older than a decade cannot afford many negatives, but unfortunately, the company has quite a few that may hinder its recommendation.
- High-quality bullion
- Solid array of precious metal services
- Buy back programs are also offered
- They do not accept credit cards
- Prices are not visible on the website
- Little to no customer reviews
Investing in precious metals requires a reliable partner, and SchiffGold emerges as a full-service dealer. The company will cater to every facet of your precious metal journey.
Beyond the initial purchase, here are the services that you can enjoy from the company:
1. Simple Gold IRA Investing
- SchiffGold recognizes the pivotal role of precious metals in any comprehensive retirement plan.
- Initiating a gold IRA is streamlined and offers accessibility beyond expectations.
- The possibility of rolling over an existing IRA adds flexibility, making the prospect even more enticing for potential investors.
2. Unparalleled Secure Vault Storage
- For those who prioritize safety, recommend secure and reliable vault storage services.
- Investors can confidently store their physical gold and silver, knowing their assets are shielded within top-tier vault facilities.
3. Personalized Home Safe Storage
- The company assists in selecting the right home safe for you.
- They provide a personalized solution for emergencies and ensure that your gold is secured within the comforts of your home.
Gold IRA Rollover
If you already have an IRA account, you can request them for a rollover. This is something that they go over in-depth on their website as well as in their gold kit. If you decide to visit their website, they have a 3 part series that talks about the benefits of this, along with how you can incorporate it into your own IRA or 401k.
SchiffGold has some top-tier professional storage services as they are partners with globally recognized secure vault facilities. These have been strategically positioned around the world.
This service itself boasts:
- Reputable Security: Independent depositories monitored by leading security companies. They provide advanced security features and full-time vault guards.
- Bullion Allocation And Segregation: Your metals are 100% allocated and physically present at the chosen vault while being segregated from other accounts.
- Double Insurance: Your assets are doubly insured through the depository and independently insured by Transcontinental Depository Services.
- Outside The Banking System: Your precious metals remain independent of the banking system and are held separately in your name and control.
- Flexible Possession: Easily take possession of your metals by scheduling a pickup or arranging delivery to your preferred address. Transfer options are also available.
When safeguarding your precious metals, a crucial decision is where and how to store them securely. SchiffGold recognizes that clients have diverse preferences, and home safes offer a practical solution for those opting for private storage.
Here are all the things that you need to take care of when dealing with this service:
1. Security Features Which Include:
- Fingerprint entry
- Thick steel doors
- Multiple deadbolts
- PIN access
- Heavier safes deter thieves
- Lighter safes can be easily transported
3. Fire & Weather Protection
- Fireproof and Waterproof safes add an extra layer of protection
4. Price Range
- More affordable safes are less secure
- Expensive safes offer the highest security
5. Appearance With Designs Such As:
- Air vents
- Soda cans
6. Strategic Placement
- Place your safe in unconventional locations to thwart burglars.
- Wall Safe Attachment and clever disguises like bathroom mirrors or bookshelves.
- The Floor Safe is secured to the garage or basement floor, potentially hidden beneath something.
The company offers expertise to bring you a seamless solution if you want to sell large estates. SchiffGold prioritizes simplicity and stress reduction, so clients can expect professional evaluations from trustworthy estate specialists.
These can happen:
- Over The Phone: A streamlined evaluation on a simple phone call.
- Via Email: Evaluations can be efficiently handled through email correspondence.
- In-Person: In-person evaluations that lead to a thorough examination.
Their Market Research And Analysis
If you want the latest and best in the precious metal industry, this company has you covered. You can visit their website, and they have a dedicated section where they go over important topics and offer in-depth research and analysis.
Here is the type of content you can expect there:
- Questions & Answer
SchiffGold’s Free Guide
The Gold Kit is a compilation of information and a strategic guide. It has been crafted to unravel the compelling reasons behind investing in gold.
Here are the key aspects that the guide goes over:
- Understanding Economic Dynamics: The report delves into the precarious state of the economy, which is currently standing on the verge of a potential burst. By comprehending this, you can gain a strategic advantage in navigating uncertainties.
- Navigating Central Bank Realities: The guide helps investors through the nuances of central bank policies and sheds light on the factors contributing to these influential entities’ erratic nature.
- Anticipating Market Corrections: SchiffGold’s Gold Kit provides insights into the indicators pointing towards an imminent correction. This helps in empowering investors to make well-timed decisions to safeguard their portfolios.
- Preparing For A Liquidity Crisis: The guide equips investors with the knowledge to prepare and respond effectively to this issue. Understanding the dynamics of such crises is pivotal for safeguarding investments against unforeseen challenges.
- Smart Money Strategies: The Kit also unveils the strategies employed by smart money investors who are increasingly hoarding gold.
Investing in gold and silver should be straightforward and hassle-free. After all, these precious metals represent one of the simplest forms of financial assets.
At this dealership, there is a narrower selection compared to other dealers, but that is mostly by design. They place their focus mostly on the intrinsic value of the metal itself. The premiums on these coins and bars are among the lowest in the industry.
- Gold: The company recommends different types of gold products like 1 ounce and fractional gold coins, 1 & 10-ounce bars, and 1-kilo bars.
- Silver: For silver products, they suggest 1-ounce coins, 1 ounce and fractional rounds, 10 & 100-ounce bars.
How To Buy & Sell Your Precious Metals
The buying process is easy. You can easily get started on their website and browse the metals as you would on any precious metal website; however, you will have to call them to confirm any prices and properly get your order started.
Selling is a bit different as you have to get in touch with the company and discuss what price you want to sell at. You can then simply ship your bullion to them and get paid within a reasonable time.
The company aims to consistently provide the best gold and silver bullion at competitive prices. They avoid charging high commissions and maintain some of the lowest premiums in the industry. These prices are not available on their website.
Their most common payment method is by bank wire, as they do not accept credit cards. They also accept personal checks and also accept payments through cryptocurrency.
For this, they use BitPay, which accepts the following currency:
- Bitcoin Cash
SchiffGold Reviews, Ratings & Complaints
With only one review on Trust Pilot that calls the company a scam, things are immediately not looking for the company, and despite only one single-star review, the fact that it’s maintaining a 3.2 rating is also strange.
Google Reviews have the same picture but with some positive reviews. Boasting a 3.7 rating is not much, especially when you have many calling you a scam and proclaiming your business to be unreliable. These reviews, combined with the issues highlighted above, make the company very difficult to recommend.
Lastly, a customer complained about buying 90% silver from SchiffGold. He got a slight discount compared to other dealers, but he was not happy with the quality he received. He felt he paid too much for a product that could have been better.
Frequently Asked Questions
Q1: Does SchiffGold Have Any Pending Lawsuits?
The company has not been a part of any major lawsuit. This does not translate to the owner, who recently claimed that he had won a defamation lawsuit against The Nine Network. While other sources claim that the lawsuit was settled, Peter Schiff claims that he won the lawsuit.
Q2: Is SchiffGold A Legit Company?
With more than a decade of service, there are plenty of reasons to consider this company as a legitimate one, and this is despite the few bad reviews that the company has received over the years.
Q3: What Is Peter Schiff’s Net Worth?
Current estimates suggest that the net worth of Peter Schiff is anywhere between 70 and 100 million dollars, with many outlets giving it an exact $70 million figure, but many of these have placed these figures months ago. It is likely that this figure has only increased over the months.
With this SchiffGold review wrapping up, it is evident that the company offers a solid array of features and services, all at competitive pricing. However, the numerous mixed and, in some cases, negative reviews over the years present a challenging aspect for a wholehearted recommendation.
While the company has a solid foundation and diverse services, as a potential customer, you might want to check out some alternative options. Hopefully, some with more consistently positive feedback and reviews.
Invest with the right company by reading my article, which lists the best companies of this year. Alternatively, you can also request a Gold IRA Kit for absolutely free!
Or if you want to check out the company I just reviewed here, you can visit their website by clicking the button below:
Martin Thomas, the owner of Quadra FNX Mining, is a true gold investment aficionado. With decades of experience and a wealth of knowledge, he is the go-to source for anyone navigating the vast world of precious metals. Martin has dedicated decades of his life to understanding the intricacies of the precious metals market and the best strategies for maximizing returns. His expertise in this field is unmatched, and his commitment to helping others make informed investment decisions is unwavering. With him as your guide, you’ll gain a deeper understanding of the gold market and learn how to make smart investment choices that will benefit you for years. With his guidance and wisdom, you will never have to worry about taking the wrong investment step again. Learn more about Martin.