Many of us remember the great global financial crisis of 2008. If you don’t, it was kind of a big deal for many people with retirement plans. In response to this crisis, Monarch Precious Metals, a precious metals refinery out of Oregon, was formed to meet the skyrocketing demands for precious metals.
A refinery is a little different than a typical precious metals broker/seller, so I decided to check them out and see if they were worth your time and money for investing, or if they are better off avoided for your metals needs.
Who is Monarch Precious Metals?
Monarch Precious Metals is a privately held, family-owned, and operated company that began as a small coin shop called Oregon Coin and Jewelry. When they began struggling to find silver for their customers, they decided to start making their own silver bullion. Because of their growth, they’ve since expanded and moved to Medford, Oregon.
Besides silver bullion, which is stamped with their logo during minting, you can also purchase gold, copper, gifts, U.S. coins, and supplies/accessories. But, their specialty is definitely silver and you can find the widest assortment of silver products which include items such as bullion, rounds, specialty products, and novelty products.
If you prefer gold or copper, you can find that as well, although it is much more limited.
As an investor, you may not be looking for novelty products, but if you are interested in them, they’re available as well. This includes custom engraved poker chips, spinners, 3D minted baseballs and even zodiac coins. You can also find a selection of coin collecting supplies, books, and a small selection of gaming supplies.
What Are the Pros and Cons of Monarch Precious Metals?
I’ve looked at Monarch Precious Metals and really tried to dive into what they’re about and if they’re a good choice for investors. I did notice a few red flags that would keep me from recommending them to the serious investor. They aren’t all bad, though!
If you’re considering Monarch Precious Metals, consider these pros and cons:
- Offer a wide assortment of unique products
- U.S.-based business
- An excellent choice for investors who are interested in silver
- No Better Business Bureau accreditation
- Online reviews are very mixed on third-party review sites
- Complaints about customer service and order issues
As you can see, Monarch Precious Metals has some issues, even if they do offer up some unique products and they are not a company I would consider a scam, I would consider them more geared towards collectors and not investors.
The Verdict on Monarch Precious Metals
Serious investors want to work with a company that is serious about taking care of them and ensuring that their hard-earned money is spent wisely, especially on purchases that go towards their retirement. In that case, I would say that Monarch Precious Metals is more geared toward those that enjoy collecting than those that are looking to make investments.
Customer reviews online are mixed, with some complaining of pushy salespeople, being ignored by customer service, and order issues. Others love the availability of unique products, including the extensive silver items.
Honestly, Monarch Precious Metals, which is a decent company, doesn’t offer up anything any different than any other precious metals company and with the customer service issues, it may be a company you would want to avoid if you’re looking for serious investments.
Other Precious Metals Reviews That You Might Like
Find out about some other precious metals sites and what I know about them. This is a rundown of the metals companies that you need to know about. Warning, one is an MLM you want to avoid!