Provident Metals is an online retailer of bullion, various IRA and investment-grade metals, as well as local and foreign currency coins, numismatic coins, and currency coins. The business exclusively sends packages to American addresses or military boxes.
Being an Associate Member Firm on the Certified Coin Exchange, perhaps the largest dealer-to-dealer numismatic network in the world, is something the company takes great pride in.
Provident Metals now has an A rating from the Better Business Bureau. You should invest, then. Find out by reading on.
Protect Your Wealth & Get Huge Tax Savings!
Provident Metals Overview
In 2009, Provident Metals was established. The company’s main office is situated in Dallas, Texas. Several precious metal products are offered by the business, the majority of which are made of gold, silver, platinum, copper, and palladium.
Additionally, the corporation set up a Precious Metal Investor’s Knowledge Center. The goal of the Knowledge Center is to educate beginning coin investors and collectors on how to obtain and use gold, silver, platinum, copper, and palladium coins and bars for investment purposes.
A self-directed precious metals IRA can be opened by investors or collectors, who can then finance it and buy metals, and the corporation has also developed an IRA program for this purpose. The Preferred Trust Company will provide the funding for your investment if you take part in this program.
Sales are available 24 hours a day on the company’s website, www.providentmetals.com, but if you’d like to place your order over the phone, customer service representatives are available Monday through Friday, 8AM to 6PM Central time.
The primary point of contact between the business and its clients is also its website. They can be reached by phone and email as well.
Choose Provident Metals
In order to give customers the best experience possible, Provident Metals works hard. From the minute you contact them until your order is delivered, you will value their professional, prompt, and courteous customer service.
The company has enough market knowledge to ensure that it provides its customers with the lowest rates and a large assortment of products.
The company also offers supplies designed for the maintenance and collection of numismatic and bullion artifacts.
Provident Metals can efficiently give the lowest and most up-to-date market prices by using an automated method. The business does this without sacrificing the quality of its goods.
Additionally, the business offers dependable and effective shipping services. Because of the covert shipping labels and packaging, the shipping services are provided at reasonable prices, and you can be sure that your items will arrive safely.
In order to protect the confidentiality of your personal information, Provident Metals takes numerous precautions. Modern encryption software and a secure shopping cart are available for any given online purchase.
Items & Services
In addition to coins, bars, and numismatic items composed of gold, silver, platinum, copper, and palladium, the company offers a wide range of precious metal products.
Among the noteworthy goods are:
Silver Bullion
Silver Coins
Silver Bars
Eagles of American Gold
Gold Pre-33
Gold bars from PAMP Suisse
Gold Maple Leaf coins from Canada
gold coins made in Europe
Silver Coins
Gold Coins
Gold Bars
U.S. Silver Eagles
Scrap Silver
Sterling dollars
Silver 5-Ounce Coins
Canadian Silver Maple Leaf Coins
Platinized Metal
Nickel Bullion
Bullion of palladium
Medieval Legends, Egyptian Gods, Provident Lunar Series, Provident Prospector, World of Dragon, Warrior Series, Queen’s Beasts, and Four Horsemen are a few of the most well-liked product series of 2022.
Provident Metals provides a range of services in addition to sales. Depending on the location where your order is being shipped, the company’s website offers information on sales tax.
Through its Precious Metal Investor’s Knowledge Center, the corporation also provides investment advice to coin collectors and potential investors. The IRA Program and real-time precious metal price charts are additional services.
Does Provident Metals Offer IRAs?
Yes, IRA services are offered by Provident Metals. Because you can invest in bonds, equities, and mutual funds without paying certain taxes, holding an IRA is popular among investors.
You can currently purchase precious metals from Provident Metals as a bullion investor and invest them in a Traditional IRA or a Roth IRA.
The business has joined forces with Sterling Trust Company and American Estate & Trust Company, two IRA custodian firms, to provide the best possible IRA services.
IRA-Approved Bullion Product Selection
Only a few of the coins and rounds sold by Provident Metals are IRA-eligible, despite the fact that many of the precious metal bullion products are 99.9% pure. The types of bullion that can be put into an IRA must meet a number of severe requirements.
Currently, gold bullion items must be at least 99.5% pure to qualify for IRAs. The only exception to this rule is the American Gold Eagle, which has a lesser purity level of 91.67%.
Products made from gold bullion must additionally bear an assayer’s or refiner’s hallmark certifying that they have received COMEX or NYMEX approval. The company also offer copper bullion, copper rounds, JM bullion, and other metal investments.
IRA Products
IRA investing opportunities for gold products include:
American Eagle Platinum Coins, 1/10 to 1 ounce
Canadian Maple Leaf Platinum Coins, 1 ounce
Australian Platinum Koala Coins, 1 oz.
Silver Products
To be eligible for an IRA, silver goods must have a purity of at least 99.9%. IRA investing possibilities for silver goods include:
American Silver Eagle Coins of 1 ounce
Canadian Silver Maple Leaf Coins, 1 ounce
Australian Philharmonic 1-ounce Silver Coins
Chinese Silver Panda Coins of 1 ounce
Mexican Libertad silver coins weighing 1 ounce
Products made from platinum and palladium must be at least 99.95% pure to be accepted in an IRA. IRA investing choices for platinum and palladium products include:
American Eagle Platinum Coins, 1/10 to 1 ounce
Canadian Maple Leaf Platinum Coins, 1 ounce
Australian Platinum Koala Coins, 1 oz.
Canadian Maple Leaf Palladium Coins, 1 ounce
Russian roubles in 1 ounce Palladium Ballerina Coins
How Do I Create A Precious Metal IRA?
To open an account, get in touch with one of Provident Metals’ affiliated custodial firms.
As soon as you deposit money into your IRA and notify the IRA custodian that you plan to purchase IRA-approved precious metal goods, you will then contact Provident Metals. You can lock in your price by calling.
Selling With Provident Metals
You can sell your precious metal items to Provident Metals, and they will pay you a fair price for them. You will take the following three actions to sell to the business:
To lock down your price, make a toll-free call to Provident Metals.
Following that, the business will send you an email confirmation with your rates, a packing sheet, and instructions on how to complete the shipment.
After receiving the items, Provident Metals will provide your payment within three business days.
The large volume of parcels the business gets each day and the requirement to authenticate and validate the cargo both contribute to this delay.
Provident Metals Shipping Policy
At the moment, Provident Metals only exports to the USA. Any order with a sub-total of $199 or more is eligible for free shipping. There is a basic delivery fee of $7.99 for purchases with subtotals under $199.
A signature is required upon arrival of a shipment valued at more than $1,000 and is confirmed on the order form. Only after payment has been received is shipment started. As soon as the shipment is started, you’ll get an email notification.
UPS or USPS are used for all order shipping. Packages are sent by Priority and First Class shipping with USPS. It’s possible to mail a big package by UPS.
Reviews, Ratings, and Complaints of Provident Metals
Reviews and ratings on the company website are generally positive. While Provident claims to offer the best service, there are some complaints about the business.
On the review website SiteJabber, 45 reviews have given the business an average rating of 2.71 out of 5, due to poor customer service. This shows that the majority of customers have had negative interactions with the business.
The majority of criticisms of the business center on its return policy and customer service.
This precious metal dealer has a Trustpilot customer rating of 3.2 out of 5 based on 3,676 reviews. 90% of the evaluations rate the business’s services as outstanding, suggesting that most clients are generally content with it.
The majority of grievances against the business center on product packaging issues, shipment delays, and package security.
“The company send parcels below $1,000 without signature. The USPS lost my package and the provident customer service started a claim on my behalf. But, when I called them, the rep said their insurance underwriter still denied the claim, this is horrible company to deal!
Fees
Create an account with Provident Metals without paying any fees, and placing orders is also free of charge. Although prices are always changing, Provident gives discounts based on the accepted forms of payment. For instance, ACH/e-check payments are discounted by 4% in cash, while Bitcoin payments are discounted by 3%.
Nevertheless, the Provident Metals IRA option does have standard IRA fees such establishment fees, annual fees, and storage fees. Since Provident Metals does not retain the metals in-house, the actual costs you pay will vary depending on the custodian firm you select.
Finally, Provident provides free delivery on purchases of $199 or more. They impose a fixed $7.99 cost on orders that are less than $199. You should be aware that Provident Metals does not currently ship to locations outside of North America.
Educational Resources
A sizable section of Provident Metals’ website is devoted to instructional materials, which include pricing charts, investment manuals, and other basic financial knowledge. For free, you can sign up for their newsletter to receive updates on business news and trends. Anyone can check bullion prices and trends without creating an account thanks to these resources’ availability.
Is Provident Metals Scam?
Overall, the evidence suggests that Provident Metals is an authorized dealer in precious metals. Numerous evaluations laud the company for offering such a diverse selection of goods. They always appear to have what you need.
Additionally, a lot of customers praise the company’s IRA program. However, it is challenging to overlook the numerous critical remarks and grievances made about the business. The company’s reputation is hurt by this.
Pros and Cons
This Provident Metals review is not complete without tackling the advantages and disadvantages of this precious metals company.
Pros of Provident Metals
Wide Range of Precious Metals: Provident Metals offered a variety of precious metals, including gold, silver, platinum, and palladium, in the form of coins, bars, and rounds.
Competitive Prices: They often provided competitive pricing on their products, making it attractive for investors and collectors.
Secure Online Shopping: Their website had security features to ensure safe online transactions, giving customers peace of mind.
Buyback Program: Provident Metals had a buyback program, allowing customers to sell their precious metals back to the company.
Good Provident Metals Review: Positive customer reviews and ratings can be found online, indicating a level of customer satisfaction. Provident customer service is top notch.
Educational Resources: They offered educational resources and articles to help customers make informed decisions about investing in precious metals.
IRA Services: Provident Metals facilitated Precious Metals IRAs, which can be a tax-efficient way to invest in metals.
Regular Promotions: They occasionally ran promotions and discounts, allowing customers to save on their purchases.
Outstanding Customer Service: Provident Metals had a customer service team to assist with inquiries and issues. The customer service reps offer consistent customer satisfaction and it is what makes this company standout.
Delivery Options: They offered various shipping and delivery options to cater to different customer needs.
Cons of Provident Metals
Market Volatility: The prices of precious metals can be highly volatile, which can affect the value of investments.
Storage Costs: Storing physical precious metals can incur additional costs, such as secure storage fees.
Market Timing: Timing the market correctly can be challenging, and buying at the wrong time may result in losses.
Lack of Liquidity: Selling physical metals can be less liquid than other investments, making it harder to access funds quickly.
Counterfeit Risks: The risk of counterfeit products in the precious metals market is a concern, although Provident Metals took measures to verify the authenticity of their products.
Shipping Costs: Shipping costs can add to the overall cost of purchasing precious metals, particularly for larger orders.
Premiums: There may be premiums over spot prices for certain products, reducing the immediate profitability of investments.
Market Spread: The difference between the buying and selling price (spread) can impact the overall return on investment.
Regulatory Changes: Changes in regulations regarding precious metals can affect the ease of buying, selling, and storing these assets.
Limited Physical Locations: Provident Metals primarily operated online, which could be a drawback for those who prefer in-person transactions.
Keep in mind that the status and reputation of a company can change over time, so it’s important to research and verify the current standing of Provident Metals or any other precious metals dealer before making investment decisions.
Summary
A significant retailer of precious metal products online is Provident Metals. The business’s main office is in Dallas, Texas.
You can make a purchase at any time of day or night on any day because the firm website is always available. Different clients express varying views about the business.
Provident Metals is a respectable dealer in precious metals, but there are more better possibilities, according to the review’s overall conclusion.
Provident Metals should receive the goods.
Following the day on which you receive an email from the company confirming your transaction, the items must be postmarked.
FAQ
Q1: What is Provident Metals?
A1: Provident Metals is a well-known online precious metals dealer that specializes in selling a wide range of bullion and numismatic products, including gold, silver, platinum, and palladium coins and bars.
Q2: Is Provident Metals a reputable company?
A2: Provident Metals has a reputation as a reputable precious metals dealer. However, it’s always a good practice to check recent customer reviews and ratings for up-to-date information on their reputation.
Q3: What products does Provident Metals offer?
A3: Provident Metals offers a variety of products, including bullion coins, bars, rounds, and collectible coins. They also offer a selection of precious metals for individual retirement accounts (IRAs).
Q4: Can I buy precious metals for an IRA through Provident Metals?
A4: Yes, Provident Metals can assist you in purchasing precious metals for your IRA. They have experience in facilitating Precious Metals IRAs, which can be a tax-efficient way to invest in metals.
Q5: How can I place an order with Provident Metals?
A5: You can place an order on the Provident Metals website by selecting the products you want, adding them to your cart, and following the checkout process. They may also have customer service representatives available to assist with orders.
Q6: What payment methods does Provident Metals accept?
A6: Provident Metals typically accepts various payment methods, including credit/debit cards, bank wires, checks, and electronic funds transfers. Payment options may vary, so check their website for the most current information.
Q7: What is the shipping process like when ordering from Provident Metals?
A7: Provident Metals typically offers multiple shipping options, including secure and insured delivery. Shipping costs and delivery times can vary depending on your location and order size.
Other Precious Metals Dealers:
About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He started IRA Investing to share his expertise in using his Self-Directed IRA for alternative investments. His views on retirement investing have been highlighted in USA Today, Business Insider, Tech Times, and more. He invested with Goldco.
