You can find hundreds, if not thousands of precious metals brokers online. Just do a quick web search and you’ll see that the choices are almost endless and they can be very overwhelming, especially when you’re not sure if a company is legitimate or a scam.
Amagi Metals is a company that has come across our radar recently and I wanted to see for myself if they were a company I would recommend or if I would warn against them for your investment needs. And when I began digging into them, I noticed that there were some definite red flags that I couldn’t ignore.
Before you decide on using Amagi Metals for your precious metals investments, consider this company review.
Who is Amagi Metals?
Amagi Metals is a legitimate precious metals dealer with company offices in Nevada, Texas, and Oklahoma. They conduct business with customers all over the world and it doesn’t get easier than clicking on what you want to purchase and entering your financial information. They keep their customer information private and they take security measures seriously, including with their website and when they ship your purchases. They also make investing more attainable with simple information, uncomplicated return policies, and no hidden fees.
While all of this is great, it doesn’t set them apart from any other precious metals brokers in the industry. This is the bare minimum that the best companies offer to investors.
The problems with Amagi Metals begin when you look at the reviews that were left by their customers. While Amagi Metals claims that they are customer-focused, the angry reviews against them make you question if that is true.
Is Amagi Metals a Scam?
I will not call Amagi Metals a scam. They are certainly a legitimate business, however, they are not Better Business Bureau (BBB) accredited due to their lack of company information made public. That means you won’t find out much about their policies, management, or customer service resolution process. You also won’t find any complaints against Amagi Metals on the BBB website, but you will see that Yelp has a rating of three stars out of five, with the last positive review left in 2016, and multiple negative reviews left more recently.
Yelp also states that Amagi Metals is a closed company, yet they still have a strong web presence. They did close down for a short period of time when they were purchased by Anthem Vault. Unfortunately, this purchase did not improve business operations and they continue to be plagued by negative reviews regarding transparency and customer service.
It’s difficult to find out why this buyout had to happen to save Amagi Metals, but there are rumblings that the original owner was a criminal and there was a complaint filed with the Attorney General. While Anthem Vault has tried to distance itself from the original owner, the complaints continue.
Amagi Metals Customer Complaints
I prefer to read my reviews on third-party sites that have no vested interest in the company being reviewed and not just a random review site that can be full of fakes and disgruntled people. But, finding these unbiased reviews on places like BBB or TrustPilot is difficult, so I had to go with what I found on Yelp.
Customers who have used the services of Amagi Metals have consistently complained about the length of shipping times. Instead of shipping their precious metals quickly, it was taking weeks, and even months, in some cases, with no option to cancel the order and get a refund of their money.
When precious metals are shipped from reputable companies, the pieces are normally sent in airtight containers to prevent damage. Amagi Metals sent their products in Ziploc bags, with the items being dinged up and scratched. This is not proper service in the precious metals world!
Another complaint against Amagi Metals is their pricing. Customers have noticed that prices were higher than the competition and shipping wasn’t included in the price.
Sure, Amagi Metals is under new management with Anthem Vault, but it seems that they’ve inherited all the old problems that plagued this company prior to the buyout.
The Bottom Line on Amagi Metals
I am not going to say that Amagi Metals is a type of scam, because they are a legitimate business. However, if I was asked if I could recommend that an investor be involved with Amagi Metals, I would have to say no. There are just too many red flags that point to being ripped off at worst and extremely frustrated at best.
Too many complaints and a bad history have deemed Amagi Metals very questionable and with so many choices out there, I would suggest looking elsewhere for all your precious metals investment needs.
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