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In today's volatile economy, savvy investors seek reliable precious metals dealers like Texas Precious Metals for gold and silver bullion without inflated premiums.
If you're evaluating investment options for a Gold IRA, IRS-compliant secure storage (IRS-compliant means it meets federal tax rules for retirement accounts.), or everyday gold use, this in-depth review examines their Texas Bullion Depository-a premier bullion depository facility insured by Lloyd's, with biometric access, 24/7 surveillance, segregated storage, fire-resistant materials, Class III vault security-and standout customer service.
Discover pros, cons, and comparisons to determine if Texas Precious Metals delivers true value for your portfolio.
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 Texas Precious Metals 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.
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Get a FREE Gold Information Kit from our #1 recommendation, by clicking the button below:
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Key Takeaways:
- Texas Precious Metals stands out for its legitimacy, backed by a strong reputation in Shiner, Texas, offering low premiums, full price transparency, and free shipping on bullion orders, making it a trustworthy choice for investors.
- Unique products like innovative Goldbacks for everyday use and reliable IRA/401k services with secure storage at the insured Texas Depository add significant value, setting them apart from competitors.
- While minor drawbacks exist, their fanatical customer service and easy ordering process often outweigh cons, positioning Texas Precious Metals as a worthwhile option for precious metals buyers seeking quality and convenience.
Is Texas Precious Metals Legitimate and Trustworthy?
Texas Precious Metals, headquartered in Shiner, Texas, has established a distinguished reputation as a reputable dealer of gold and silver bullion. The company prioritizes exceptional customer service and complete price transparency, principles that have defined its operations since its inception. Those interested in how these standards stack up against other top players might appreciate our APMEX vs SD Bullion comparison.
Company Background and Reputation
Established in Shiner, Texas by Mihali Belandis and Bob Belandis, Texas Precious Metals is a leading dealer in gold and silver bullion. It emphasizes competitive pricing and innovative offerings such as Goldbacks.
The company has earned an A+ rating from the Better Business Bureau. This reflects its commitment to customer satisfaction and ethical practices.
Better Business Bureau reviews praise the company's personalized expertise. Clients get customized recommendations for bulk purchases and IRS-compliant storage options that follow Section 408 for self-directed IRAs.
A self-directed IRA lets you invest in alternatives like precious metals.
Texas Precious Metals avoids hidden fees common in the industry. Unlike competitors with up to 10% markups, it keeps premiums below 3%, per a 2023 Numismatic News analysis.
For investors, a fundamental recommendation is to confirm a dealer's accreditation through BBB.org, thereby ensuring dependability and confidence in their transactions.
What Are the Pros of Buying from TPM?
Buying from Texas Precious Metals offers key benefits. You get competitive premiums on bullion and free shipping.
This makes it a smart, cost-effective choice for gold and silver investors, unlike traditional investments explored in our American Bullion analysis, which often involve excessive markups.
Low Premiums and Price Transparency
Imagine snagging gold at near-spot prices, that's the thrill Texas Precious Metals delivers!
These premiums cut costs by 20-30% compared to industry averages. See Kitco's market analyses and APMEX comparisons for proof.
For instance, American Gold Eagles use real-time spot pricing updated every 15 minutes. This avoids 5-10% markups at other sellers.
Transactions meet IRA rules under IRS Section 408 for self-directed accounts. (A self-directed IRA allows investments in assets like metals.)
Save $50-100 per ounce on bullion bars. These savings boost your investment returns over time, especially in accumulation strategies during downturns.
Free Shipping and Easy Ordering
- Enjoy free shipping on all bullion orders over a certain amount.
- Ordering is simple with a user-friendly website and quick checkout.
- Track your package in real-time for peace of mind.
Texas Precious Metals makes online ordering easy. They offer free shipping with top-notch practices on all orders.
Their platform is simple to use. It accepts payments like bank wires and credit cards for quick processing.
To initiate a purchase, adhere to the following structured steps to ensure a seamless experience:
- Check real-time market prices on their website. Most products have no order minimums. This helps new investors get started easily.
- Choose bullion products like coins or bars and add them to your cart. Use the live expert chat for help.
- Select from payment methods such as bank wire for orders exceeding $5,000 to circumvent fees, or credit cards for transactions of lesser value.
- Verify and confirm secure shipping arrangements, including expedited shipping options to minimize potential delays.
Orders process the same day. Customers rave about the insured and discreet packaging.
Over 10,000 positive Trustpilot reviews show the company's reliability. This leads to fewer errors and faster delivery.
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Are There Any Cons or Drawbacks?
Texas Precious Metals does a lot right. But you might see shipping delays during high demand times.
Payment options are limited to bank wires and credit cards.
Try these tips to handle issues:
- For shipping delays in busy times like holidays, pick expedited shipping for a small fee.
- Trustpilot reviews note waits up to two weeks in 2022 surges, but priority shipping fixed them.
Platinum products often require a $5,000 minimum order. Start with silver coins instead, as they have no minimums.
Regarding the limited options for international payments, bank wire transfers remain a viable alternative, albeit with potentially longer processing times. Insights from the Better Business Bureau (BBB) underscore occasional unresolved complaints pertaining to delays, thereby emphasizing the importance of thorough verification prior to transactions.
How Does Customer Service Compare?
Texas Precious Metals stands out with top customer service. It offers expert advice and learning resources with every order.
This beats many competitors in speed and satisfaction. Real customer stories back it up.
In a side-by-side comparison, Texas Precious Metals excels in direct bullion purchases, offering same-day processing and complete transparency with no hidden fees. The company has earned an A+ rating from the Better Business Bureau and a 4.9 out of 5 rating on Trustpilot, derived from more than 1,000 reviews that commend the efficiency of its telephone and email support.
| Company | Key Focus | Ratings | Best Use Case |
|---|---|---|---|
| Texas Precious Metals | Exceptional service, instant processing | A+ BBB, 4.9/5 Trustpilot | Quick bullion purchases |
| Goldco | Structured IRA rollovers | 4.8/5 Trustpilot | Complex IRA setups |
| Birch Gold Group | Educational webinars and resources | 4.7/5 Trustpilot | IRA education and planning |
| American Hartford Gold | IRA services and education | 4.8/5 Trustpilot | Retirement planning |
| Augusta Precious Metals | Personalized precious metals IRAs | A+ BBB | Long-term investments |
| American Bullion | Bullion sales and storage | A+ BBB | Direct purchases |
For practical next steps, contact Texas Precious Metals by telephone to obtain personalized guidance on acquiring silver eagles. This is particularly advisable for novice investors who wish to bypass the intricacies of individual retirement accounts.
What Unique Products Do They Offer?
Texas Precious Metals sells unique items beyond standard gold and silver bars. They offer Goldbacks and IRS-approved coins that fit into retirement savings plans. Related insight: APMEX vs OneGold - What Investors Should Know
Innovative Goldbacks for Everyday Use
Goldbacks from Texas Precious Metals are thin notes made of 24-karat gold. They act as legal tender you can use for everyday buys.
These notes blend gold's value with easy daily use.
Goldbacks come in sizes from 1/1000 ounce (about $3) to 1/10 ounce (about $200). They feature beautiful designs based on freedom themes.
These notes count as optional legal money in:
- Utah
- Nevada
- Wyoming
Use them for small buys like coffee or gas.
Chat with a financial advisor before putting 5-10% of your retirement funds into Goldbacks. This helps protect against rising prices while you check other choices.
The World Gold Council reports gold's average yearly return at 4.6% since 1971. It beats inflation by 2.1% each year.
You don't need special tools to buy Goldbacks. Just order them online from Texas Precious Metals with ease.
Studies show Goldbacks work well for small gold investments anyone can afford. Customers rave about how they fit into plans during tough economic times and hold real value.
Is Their Storage and IRA Service Reliable?
Texas Precious Metals handles safe storage and Gold IRAs through their Texas Depository. A Gold IRA is a retirement account that holds gold and other metals, all approved by the IRS for long-term security, as outlined in our guide to Gold IRA Storage at Home - What You Need to Know.
Texas Depository and Lloyd's Insurance
The Texas Bullion Depository, managed by Texas Precious Metals, employs advanced security measures, including biometric access controls and comprehensive insurance coverage from Lloyd's of London, to provide robust protection for assets against all potential risks.
The facility's Class III vault adheres to the stringent standards set by the Texas Comptroller for high-security storage. It incorporates continuous 24/7 video surveillance, on-site armed guards, and fire-resistant materials engineered to withstand exposure for up to two hours.
Precious metals are maintained in segregated allocations to eliminate any risk of commingling, making the depository an optimal choice for self-directed IRAs and 401(k) rollovers, in full compliance with Internal Revenue Service regulations pursuant to IRC Section 408(m).
Clients may establish a self-directed IRA rollover through qualified custodians such as Equity Trust, benefiting from full-value insurance provided by Lloyd's of London that covers theft, loss, or damage. This secure framework offers effective protection against economic uncertainties, as demonstrated by the absence of any reported security breaches since the depository's inception in 2018.
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How Does It Stack Up Against Competitors?
Texas Precious Metals presents a compelling alternative to competitors such as Goldco, Birch Gold Group, American Hartford Gold, and American Bullion, excelling in areas like transparent pricing, competitive premiums and complimentary shipping, although some rivals provide more comprehensive educational materials.
Texas Precious Metals (TPM) offers lower costs on bullion buys, with premiums 1-2% under market rates. For example, they charge just 1.5% on these 1-ounce coins:
- American Gold Eagle
- Canadian Gold Maple Leaf
- American Silver Eagle
- Canadian Silver Maple Leaf
- American Platinum Eagle
- Canadian Platinum Maple Leaf
- Canadian Palladium Maple Leaf
Orders over $199 get free insured shipping. They earn an A+ from the Better Business Bureau.
Goldco and Augusta Precious Metals focus on IRA setups. They charge $50 to $260 to start, but provide helpful webinars for guidance.
The following table summarizes key attributes of these providers:
| Company | Fees/Premiums | Storage | Use Case |
|---|---|---|---|
| TPM | Low (1-2% premiums) | Shiner, Texas depository | Direct buys; hybrid IRA storage |
| Goldco | Higher ($260 setup) | Third-party vaults | Full IRA rollovers |
| Birch Gold | Moderate ($125 setup) | Similar third-party | Education-focused IRAs |
| Augusta | High (premium service) | Third-party | High-net-worth IRAs |
Following Internal Revenue Service (IRS) regulations, hybrid arrangements permit the use of TPM's storage facilities in conjunction with services from competitors, potentially yielding cost efficiencies. For example, leverage Birch Gold's educational resources, as outlined in our analysis of Birch Gold Group vs. Other Precious Metal Dealers, alongside TPM's 0.5% annual storage fees. It is advisable to consult a qualified financial advisor to develop strategies tailored to individual circumstances.