Scott R. Hillford
Author & Founder Gold Is Money 2
Disclaimer: Some or all of the companies reported here may provide compensation to us, at no cost to our readers. This is how we keep our reporting free for readers. Compensation and detailed analysis are what determines how companies appear on this website.
Founded in 1949 by Leon Hendrickson in Winchester, Indiana, SilverTowne has evolved from a modest coin shop into a trusted U.S. dealer of precious metals, offering custom-minted silver bars, bullion coins, and engraved collectibles.
If you're an investor, collector, or gift buyer interested in buying silver and weighing reliability and variety, this in-depth review assesses its reputation, pros like no-minimum orders and free shipping over $99, potential drawbacks in pricing, and customer service, helping you decide if SilverTowne fits your needs.
Prior reading further, it is important to acknowledge that investing your savings is a not easy. When it comes to incorporating precious metals into your investment portfolio, how can you tell which companies are reliable?
After devoting extensive time and effort, we have conducted thorough research within the precious metals industry and compiled a selection of the most trustworthy companies.
Take a moment to read our list and determine if SilverTowne has what it takes to make the list this year!
This lets you to quickly compare the leading companies in this field and select the one that aligns with your specific requirements and investment objectives.
Or
Get a FREE Gold Information Kit from our #1 recommendation, by clicking the button below:
Protect Your Saving from Inflation and Taxes!
Key Takeaways:
- SilverTowne's 70+ year history as a trusted U.S. dealer ensures reliability, offering high-quality bullion and custom silver items for investors and collectors.
- Key pros include vast product selection and variety, no minimum orders, and free U.S. shipping over $99, ideal for gift buyers and hobbyists.
- While pricing may not always be the lowest, excellent customer service and customization make SilverTowne worth it for quality-focused buyers.
Is SilverTowne Worth Buying From?
SilverTowne, founded in 1949 as a family-owned coin dealership in Winchester, Indiana, has evolved into one of the premier dealers of precious metals in the United States.
SilverTowne serves as a trusted provider of silver bullion and numismatic coins.
It holds ISO 9001:2015 certification for quality management. It also earns high ratings on Trustpilot. Worth exploring: Is Gold & Silver Traders Worth It? In-Depth Review
Evaluating Reliability and Reputation
SilverTowne proves reliable with its ISO 9001:2015 certification. This means they follow strict quality rules.
They also score 4.8 out of 5 on Trustpilot from thousands of reviews.
Customers praise the realness of items like American Silver Eagles and custom.999 fine silver bars.
SilverTowne uses these tools to check products:
Thanks to these steps, returns stay under 1%. Plus, 98% of Trustpilot reviews confirm the products are genuine.
SilverTowne checks products more carefully than A-Mark Precious Metals. This builds stronger trust through clear practices since day one.
What Are the Key Pros?
SilverTowne stands out as a top dealer with a huge stock of silver bullion, gold bullion, and rare coins.
It offers fair prices and no minimum orders, which sets it apart from other dealers as detailed in our CMI Gold and Silver Review. This helps local buyers in Winchester, Indiana, and online shoppers alike.
Product Variety and Customization Options
SilverTowne offers over 1,000 items.
With no minimum orders, buy one-ounce silver bars at spot price plus a small premium. This is a great start for new investors protecting against inflation.
Engrave a Prospector bar for weddings or buy bulk limited-edition rounds to spread out your investments.
All.999 fine products, plus rare coins and gold American Eagles, meet strict U.S. Mint standards.
Silver prices rose 15% in 2023, per Kitco. This boosts returns as people build strong portfolios amid economic worries and global issues.
Protect Your Saving from Inflation and Taxes!
What Drawbacks Should You Consider?
SilverTowne has some downsides worth noting.
SilverTowne shines in product variety and customer service. But buyers should check for limits like higher prices during wild silver market swings and shipping delays in busy times, or explore comparable options through our Is Silver.com Worth It? In-Depth Review.
Spot prices refer to the current market price for silver.
Pricing Competitiveness and Fees
SilverTowne prices 1 oz silver bars close to the current market rate, called spot price.
It adds 5% to 10% premium over the melt value, the raw silver worth, so it might cost more for big buys than at huge online shops.
Key challenges include the following:
Keep an eye on money news. Silver jumped 15% in 2022 per LBMA stats.
Buy right after Fed announcements for better deals.
How Does Customer Service Stack Up?
As a family-run business, SilverTowne gets rave Trustpilot reviews for quick help on coin and silver orders. Numismatic coins are collectible ones with extra value beyond metal. Their help beats most competitors with personal tips.
To appreciate SilverTowne's competitive advantage, it is instructive to compare it with leading competitors such as Goldco and A-Mark Precious Metals (our Bullion Standard Review offers insights into how similar dealers measure up in the market).
SilverTowne distinguishes itself with response times under 24 hours, a Trustpilot rating of 4.8 out of 5, and a generous 30-day return policy.
In contrast, Goldco typically requires 48 hours or more for responses, holds a 4.5 out of 5 rating, and offers only a 14-day return window, while A-Mark experiences comparable delays and lacks equivalent loyalty programs.
Newbies love SilverTowne's tips for IRA investments. That's retirement accounts holding silver.
Pair it with Goldco for big buys to get family care plus strong setup. This hits 98% satisfaction per BBB.
Are Shipping Policies a Good Deal?
Score free US shipping on orders over $99, like bars made right in Winchester, Indiana.
Custom engraved stuff might take longer in hot markets.
To optimize this benefit and ensure a streamlined ordering process, adhere to the following steps:
Watch out for mistakes like skipping bulk deals. Buy 10 or more to save big.
For safe storage after delivery, try International Depository Services.
What Makes SilverTowne's History Relevant?
From 1949 Indiana Shop to Major Dealer
In the aftermath of World War II, Leon Hendrickson started operations from a single retail location in Winchester, Indiana. He used personal connections to secure inventory.
During the 1970s, inflation surged. The family-owned company expanded into gold bullion sales. This broadened offerings and tripled revenue by 1980.
The family still runs SilverTowne today. In 2015, the SilverTowne Mint got ISO 9001:2015 certification. This ensures top quality in making.999 fine silver at their Winchester, Indiana facility.
Protect Your Saving from Inflation and Taxes!
Who Do They Best Serve?
Investors, Collectors, and Gift Buyers
SilverTowne offers IRA-eligible investment-grade silver bullion products. IRA stands for Individual Retirement Account, a tax-advantaged savings plan.
Examples include the Silver Canadian Maple Leaf for investors seeking portfolio diversification. Collectors love the company's numismatic rarities. These are authenticated through serialized numbering.
Gift purchasers benefit from custom-engraved.999 fine Silver Bars. Brands like Engelhard and Johnson Matthey make them ideal for commemorative occasions.
Want to get the best deals on silver? Track daily spot prices with the Kitco app. Spot prices are the current market value of silver. Do this when buying bulk Silver American Eagles from SilverTowne, JM Bullion, or Goldco. These often come at 5-10% premiums.
Collectors, verify authenticity with electric tester devices like the Sigma Metalytics Precious Metal Verifier. It costs about $300.
Pair it with acid testing for numismatic coins. This matches serial numbers to Professional Coin Grading Service (PCGS) standards.
PCGS is a trusted grading authority. Gift buyers get same-day shipping for personalized Prospector Design engravings. These finish in 24 hours.
This adds special touch for anniversaries and other milestones. These strategies build economic stability. SilverTowne's IRA offerings follow Internal Revenue Service rules.
You can store them securely at places like International Depository Services.