SchiffGold Review: A Reliable Precious Metals Dealer?

Hello and welcome to my review of SchiffGold!

Numerous people seem to be becoming increasingly interested in precious metals. Particularly for individuals who want to diversify their retirement portfolio and safeguard their assets against inflation, the gold IRA is a suitable choice.

Sadly, some businesses have tried to profit from these chances rather than really aiding these people. Millions of dollars are lost by people each year as a result of precious metals and gold IRA frauds.

These prompted Peter Schiff, founder of SchiffGold, to create his own business. In contrast to certain others who take an opportunistic approach to defrauding people of their money, he should treat them with honesty.

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History of SchiffGold

The full-service precious metal dealer SchiffGold, which operates the website, was formerly known as Euro Pacific Precious Metals until 2014.

The breadth of services offered by SchiffGold, however, is constrained when compared to those of other precious metal dealers. This is a result of the business’s heavy reliance on the price of precious metals.

Due to this, SchiffGold is a significant global marketer of the most sought-after bullion.

Products and Services

Customers can choose from a wide range of goods and services from Schiff Gold. Of course, the most popular item is physical gold, silver, and other precious metals, such as bullion, bars, and coins.

Collector coins are not, however, available from this precious metals specialist. Given that they are typically marked up greatly from their true value and that selling these coins after buying them is frequently far too difficult for the average collector, the corporation views them as poor investments in the majority of circumstances.

This doesn’t imply that these coins aren’t enjoyable for collectors or that they shouldn’t be purchased, just that they aren’t the ideal choice for the majority of investors. Schiff Gold often steers clear of those coins as a result.

Precious Metals Buy and Sell

You can purchase your precious metals with help from this precious metals company. They also purchase precious metals from customers who did not initially purchase them from SchiffGold.

It is excellent to note that SchiffGold strongly discourages the purchase of numismatics because they cannot be rapidly and cheaply sold for cash without suffering a significant loss in value.

SchiffGold’s Gold IRAs

You can ask SchiffGold to add your precious metals to your IRA, which pays an allowance for IRA rollovers, to offer a secure strategy for your retirement years.

As an illustration, the business will advise you on how to convert your 401(k) to an IRA that you may use to purchase gold and silver. You would adore such a plan because you are aware of the safety of precious metals assets in the current economic climate.

Although the business doesn’t sell collector coins, it does sell a wide variety of metals. These include platinum and palladium in addition to gold. Additionally, the company offers a variety of barter metals and special edition bullion types to its investors.

Offering goods is great, but only if they are decently priced. Fortunately, Schiff’s metals’ shifting pricing are typically thought to be competitive with those of the rest of the industry and only alter in response to market value.

Various Services

More than just selling precious metals is done by Schiff Gold. You can pay the firm $150 a year to make sure your metals are securely vaulted.

Additionally, the business assists individuals in opening new precious metals IRAs or rolling over their current IRAs into them. The business will assist you in storing your metals in vaults that adhere to IRS regulations if you select this option.

Selling Precious Metals

In addition to buying precious metals directly from those wishing to sell their holdings, Schiff Gold also sells precious metals. Metals are bought by Schiff from both its customers and those who purchased them elsewhere.

It should be noted that not all metal goods are purchased by Schiff Gold. Selling anything the firm sells is simple, but if you want to sell anything the company doesn’t sell, you’ll need to get in touch with them.

Customer Feedback

The fact that there are no online company reviews may baffle many prospective investors. The Better Business Bureau does not recognize Schiff Gold, and the company has no information on Trustlink. Online customer reviews of the business are simply unavailable.

Since the company has been around for a while, this is actually stranger than you might think. Although it has only been operating under this name since 2014, it has existed in some prior versions since 2010, therefore one would imagine that more customers would have left reviews online.

There are some customer reviews for the business, however, they are all on the website. This is quite rare for businesses in the sector and ought to cause anyone looking to learn more about Schiff Gold to pause.

Another major anomaly with Schiff Gold is that none of their precious metal pricing is posted online. You must speak with a salesman if you have a plan to buy precious metals. Although it’s not entirely unusual, few of the more respected businesses engage in this practice. Additionally, it is more strange than concerning that you must wait to pay before receiving your purchase information via email.

This has the effect of making it difficult for customers to determine whether Schiff Gold offers better prices than its rivals. It is challenging to believe the company when it claims to offer pricing that is competitive given the dearth of available information.

How to Get Started

For investors, the good news is that getting started with Schiff Gold is simple. The company’s investment method consists of just four steps.

You’ll start by getting in touch with Schiff Gold. Even though you can always contact Schiff Gold personally, having a chat facility on their website makes things more convenient.

Once you get in touch with the expert, you’ll have a quick conversation about what the business does, how precious metals might enhance your portfolio, and the state of the market at that precise moment. The specialist will inquire about your recent investments, your present budget, and your motivation for investing. They will then offer suggestions based on your needs.

You’ll then place your actual order for precious metals. The precious metals expert with whom you have been collaborating actually handles the heavy lifting even though this can be complicated. In addition to placing your orders, this professional will complete the details of your order, send you an email with your order information, and place your orders.

Following receipt of a confirmation email, proceed to the third and last step of the procedure: payment. The majority of payments are made by wire transfer or check, and the moment payment is received, the business releases your metals. If you use a check, the processing time is five days, whereas wire transfers typically take one day to clear.

Now, customers of Schiff Gold can use cryptocurrencies to pay for their orders. The company has been working with cryptocurrency since 2014 and currently accepts Ethereum, Bitcoin, and Bitcoin Cash for orders, which is not quite the streamlined approach that one may hope for.

After placing an order, paying with cryptocurrency involves direct payment. Due to the tendency of cryptocurrency prices to change, you’ll only have fifteen minutes with your order price and must use a BitPay-compatible wallet to make the payment. You will receive the same order confirmation after completing your payment as you would have if you had used a cheque or wire transfer.

The final step is having your metals mailed directly to you when you have finished paying. Simply inform the firm of the location to which you need the metals sent, and they will do it. Your entire collection of metals will be transit-insured.

Schiff Gold processes orders in one to two days, and depending on where you want your metals transported, it could take up to five days to get them there.

Services For Secure Vault Storage Of Precious Metals

What if you preferred to keep your precious metals in a vault or other secure storage facility? Notably, SchiffGold has formed alliances with independent businesses that provide trustworthy services and facilities in many locations both domestically and abroad.

Safe Precious Metal Storage at Home

You may occasionally need to keep your precious metals close by. With the help of SchiffGold’s qualified services, you may have your priceless metals kept in home safes that suit your needs.

Market analysis and research

SchiffGold regularly studies the precious metals market and the economy as a whole with a client-centered perspective. On the respective social media networks, you may find the company’s various data sources. They consist of:

Live price and price index charts for commodities containing precious metals

materials from the past with original remarks from SchiffGold

Answers to Frequently Asked Questions (FAQ) provided by SchiffGold

Accepted Payment Methods for SchiffGold

Providing real-time precious metal pricing is SchiffGold. However, the buying price will be precisely determined at the time of purchase and after speaking with a SchiffGold specialist.

Once you have contacted a company specialist, the specialist will give you an email outlining the specifics of the transaction, including information on the purchase price, delivery, and insurance.

You can pay SchiffGold through techniques like checks and bank wire transfers. They currently accept various payment methods, including BitPay for Bitcoin. They regrettably don’t have a window for internet shopping.

Shipping Partners And Duration For SchiffGold

One of the following shipping and transportation businesses is used by SchiffGold:

The Postal Service Corporation of the United States

The UPS Shipping Company and United Parcel Service

Federal Express

Order processing often takes 1 to 2 days, while shipment usually takes 2 to 4 days. The business also exports its goods. Another crucial point is that orders paid for with wire transfers clear and ship more quickly than those paid for with checks.

Important Considerations Before Commencing Your Partnership with SchiffGold

Before you embark on a working relationship with SchiffGold, it’s essential to be aware of several key factors.

It is crucial to highlight both the shortcomings and the strengths of the company being reviewed, just like in a good review.

A customer’s faith in a business is founded on their knowledge of the benefits and drawbacks of doing business with that institution. The following are a few explanations for choosing to work with or not work with SchiffGold.

Business Ratings

Regarding the ratings provided by SchiffGold, not much can be said. However, Peter’s reputation as a leader of a straightforward and honest company, driven to stand out from the competition as a reliable expert, is a key factor in the industrial and ethical reputation of SchiffGold.

Pros and Cons

Pros of investing with SchiffGold

Precious Metals Expertise

SchiffGold specializes in precious metals, such as gold and silver, and may offer valuable expertise in these markets.

Diverse Investment Options

The company may provide various investment options, including physical precious metals, precious metal IRAs, and other financial products like numismatic coins and others related to precious metals.

IRA Services

SchiffGold may assist you in setting up a Precious Metals IRA, allowing you to include precious metals in your retirement portfolio.

Storage Solutions

Some precious metals companies, including SchiffGold, may offer secure storage options for your physical metals, reducing the risks associated with personal storage.

Educational Resources

Reputable precious metals companies often provide educational resources about precious metals investing and support to help investors understand the market and make informed decisions.

Fast Payment Option

You can send your money via bank wire transfer, making it easy to buy platinum and palladium coins and other precious metals Schiff gold.

Cons of investing with SchiffGold

Fees and Costs

Precious metals investments often come with fees, including storage fees, administrative fees for IRAs, and premiums on physical metals. It’s essential to understand and compare these costs with other investment options.

Market Volatility

Precious metals markets can be highly volatile, and the value of your investments can fluctuate significantly over short periods. This can be a risk for investors seeking stability.

Limited Liquidity

Selling physical precious metals can be less liquid than selling stocks or other financial assets. It may take time to find a buyer and realize your investment.

Lack of Diversification

Investing solely in precious metals can lack diversification, which is a key principle of sound investment strategy. Diversifying across various asset classes can help manage risk.

Scams and Shady Dealers

The precious metals industry has had its share of scams and unethical dealers. It’s essential to do thorough due diligence when choosing a company to work with.

Regulatory Changes

The regulatory environment for precious metals and Precious Metals IRAs can change. Ensure you understand any potential regulatory impacts on your investments.

Final Conclusion

The reputation of Peter Schiff is the life and death of Schiff Gold. Schiff is a well-known individual with a lot to say about investments and the government, and the operation of the business is guided by his knowledge.

Unfortunately, the majority of the information that customers must rely on when doing business with this company is Schiff’s reputation. You have to engage with this organization without much information because there aren’t any reviews or prices, which is never nice for an investor.

Simply said, Schiff Gold makes it difficult to contrast the firm’s costs and procedures with those of its rivals. Your experience would very well differ greatly from that of other clients, and you wouldn’t know it until it was over.

There is relatively little information available regarding the prices Schiff Gold pays for the metals they purchase from clients. Quick quotes are available, but there are no internet reviews that can tell you whether the provider is providing you with fair or even typical pricing.

If you’re trying to sell metals, you should be aware that many other merchants can assist you in doing so with much more upfront information. A lot of businesses are also considerably more transparent about their prices when selling metals to customers. Even if Schiff may have a solid reputation in the sector, most investors can’t use the available concrete data to make an informed investment decision.

There are lots of gold firms, and while Schiff Gold is unquestionably an excellent one, you want to invest in the finest.

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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.