Provident Metals Review

Provident Metals is one of the many available options, catering to both seasoned investors and those new to investing.

In this Provident Metals review, I will examine its products, prices, and customer service in depth. I want to help you decide if this is the best place to invest your money.

Let’s examine what distinguishes Provident Metals from other metal sellers!

What is Provident Metals?

Provident Metals is a popular online store for bullion, coins, and other valuable items. It started because people wanted a trustworthy place to buy these metals.

Since opening in 2009, the company has always aimed to give its customers excellent service and high-quality metals.

They sell a variety of metals, including gold, silver, palladium, and platinum, but their silver prices are usually a bit higher than in other places. They also offer unique items like copper and old coins for those interested.

For people looking to save for retirement, Provident Metals works with Preferred Trust Company to make adding metals to their retirement savings easy. However, they don’t ship orders to other countries.

There’s not much information about the company’s history or who runs it. They say they have over 100 years of experience, which probably means all their employees’ experience is added together.

Despite this, there’s some confusion because a business group, the Better Business Bureau, lists them as having been around for only three years, which seems odd given their size.

What stands out about Provident Metals is how much they focus on making their customers happy. They offer good prices and strong security for buyers in the US and make buying easy with their website, phone line, and at trade shows.

What Makes Provident Metals Stand Out?

Provident Metals is a great place to buy precious metals because they make it easy and safe and offer good deals. They care about their customers.

When you shop with them, you can expect friendly help and fast answers whether you’re just starting or have been collecting for a long time.

They have a lot of different things to choose from because they find the best stuff from all over the world. You can find gold, silver, and special coins from many places. They also have things to help you keep your collection safe and looking good because people asked for them.

They work hard to keep their prices low so you can get great items without spending too much. They change their prices to match the market, ensuring you get a good deal.

Provident Metals’ shipping is very careful and private. They ensure your items get to you safely without charging a lot for shipping.

Shopping online with Provident Metals is safe, too. They use strong security features to protect your information and promise not to share it with anyone else.

What Products Does Provident Metals Offer?

In this section, I’ll explore Provident Metals’ diverse product offering, focusing on its precious metals inventory.

While their categorization may initially seem perplexing, a closer look reveals a treasure trove of options for investors and collectors alike, with offerings that cover a broad spectrum of gold, silver, and platinum products.

Below, I’ll take a closer look at some popular items within each category:

1. Gold Bullion

Provident Metals boasts an impressive selection of gold bullion. Among the notable items are the American Gold Eagles, available in bullion and proof versions, with a history that stretches back to the 1990s and is offered in various denominations from one ounce to 1/10 ounce.

The Canadian Gold Maple Leaf parallels this with its range of sizes and a lineage dating to the 1980s. The Austrian Gold Philharmonic showcases bullion and proof options spanning the last two decades.

The Australian Gold Kangaroos are present with more recent minting years. Gold enthusiasts can also find gold coins from renowned mints, including Krugerrands, Britannia’s, and Chinese Gold Pandas. For those interested in rarity and history, the selection extends to collector’s gold coins and antiques.

No less remarkable is the vast array of gold bars, coming from numerous mints in weights that scale up to a kilo, and a fine selection of gold rounds, affirming Provident Metals’ commitment to catering to a varied clientele.

2. Silver Bullion

Provident Metals surpasses expectations with an even wider assortment of silver bullion. Standout products include the American Silver Eagle and Canadian Silver Maple Leaf, both in bullion and proof conditions with various years and packaging options.

Unique silver coins from the Royal Canadian Mint, such as the grizzly and wolf-themed pieces, add a touch of the extraordinary.

The Australian Kangaroos and the extensive Australian Lunar Series feature prominently, with graded coins adding depth to the lineup.

Beyond standard offerings, Provident Metals’ inventory shines with “junk silver” selections, dazzling rounds, and silver bars scaling from one ounce to a robust kilo.

They also offer werewolf-slaying silver bullets alongside novelties like silver statues and the more uncommon silver dust.

Their catalog even includes mixed-denomination silver coins, with the 10oz Canadian Silver Maple Leaf being a noteworthy example of their extraordinary range.

3. Platinum Bullion

The depth of Provident Metals’ offerings extends firmly into platinum bullion, with an array of choices that may catch many off guard.

Enthusiasts can find the American Eagle Platinum in bullion and proof variants across multiple years and denominations.

The Canadian Platinum Maple Leaf appears in bullion form, while the Australian series features wildlife, Lunar, and Kangaroo-themed platinum coins from various years. Provident Metals makes some selections.

Other sought-after sovereigns, like Platinum Britannias and Austrian Philharmonic coins, make a grand showing. For those attracted to physical forms, a broad selection of platinum rounds and bars from leading mints is available, ranging from 100 grams to an exceptional 50 ounces.

Of particular note are items listed in “various conditions,” which suggests a marketplace for items that bear marks of their journey, offering a unique appeal to certain collectors.

4. Palladium Bullion

Even though palladium isn’t as famous as other precious metals, it still has special kinds of coins and bars that people like to buy. At Provident Metals, there are some cool options for everyone.

For example, they have the American Platinum Eagle and the Canadian Palladium Maple Leaf coins. These come in shiny new conditions and sometimes in not-so-perfect shapes, which might be cheaper and interesting for some buyers.

They also offer Russian Ballerina coins. These are pretty unique, come from different years, and are sometimes not in perfect condition. This variety might confuse some people, but it also means more choices might be more affordable.

Besides these, palladium rounds and bars come in small sizes, from 1 gram to 1 ounce. Different companies make these and add more choices for people who want to invest in palladium.

However, the information about these palladium items could be explained better, especially since the details for other metals are much clearer.

5. Copper Bullion

Provident Metals doesn’t specifically highlight copper bullion, but it’s still a popular choice for many metal investors.

Copper is usually available in small bars like Adolph A. Weinman’s Walking Liberty and James Earle Fraser’s Buffalo Nickel, rounds like Historic US Coinage, Cryptocurrency, etc., and sometimes in fun shapes like bullets.

People like copper because it’s not too expensive, and due to its use in many industries, it could be worth more in the future.

What Services Does Provident Metals Offer?

Provident Metals offers various services for customers. One of the main services is a retirement account that allows you to invest in precious metals like gold and silver.

This kind of account is called a Precious Metals IRA. It’s like a regular retirement account, but you have metals instead of just paper money or stocks. This can help you protect your savings from things like inflation.

IRA Program

Provident Metals’ IRA program allows you to save for retirement using metals such as gold, silver, platinum, and palladium.

They work with Preferred Trust Company to help you set it up and keep your metals safe. The program is good if you want to add different investments to your retirement plan.

How to Get Started

Here’s how you can start you’re the process:

Step 1: Open Your Account

• Contact Preferred Trust Company, and they will help you create a new IRA account.
• You can put money into this account by transferring it from another retirement account or saving a bit yearly.

Step 2: Pick a Place for Your Metals

• Decide on a safe place to keep your metals. Provident Metals and their partner will give you options, or you can choose your own.

Step 3: Buy Your Metals

• Look at what metals Provident Metals has that you can put in your IRA. Decide what to buy, and Preferred Trust Company will handle the buying and moving your metals to where they’ll be kept safe.

IRA-Approved Bullion

Provident Metals has a list of metals you can buy for your IRA. These metals are special because they meet the government’s rules for IRA accounts.

Gold:

Gold is popular because it’s known for being safe when the economy is uncertain. Below are some of the most sought-after gold coins and bars that meet the requirements.

• 2024 Australian Kangaroo 1 oz Gold Coin BU
• 2024 British Britannia 1 oz Gold Coin BU
• Canadian Maple Leaf 1 oz Gold Coin Random Year, .9999 Pure
• 2024 American Eagle 1 oz Gold Coin BU
• 2023 British Tudor Beasts Yale of Beaufort 1 oz Gold Coin BU

Silver:

Silver is less expensive than gold but can also grow in value a lot. Here are some popular silver items you might consider if you’re thinking about including silver in your investment mix.

• 2023 Mexican Libertad 1 oz Silver Coin BU
• 2024 Canadian Maple Leaf 1 oz Silver Coin BU
• American Eagle 1 oz Silver Coin Random Year
• 2023 British Royal Arms 1 oz Silver Coin BU

These options offer a way to keep your money safe and look beautiful, mixing the reliability of silver with the art of coin making. You can learn more about these silver coins and others by checking out Provident Metals’ website.

Platinum:

Investing in different things can make your money safer, and choosing platinum is a great option. Here are some popular platinum items for your IRA investments.

• 2024 British Tudor Beasts The Tudor Dragon 1 oz Platinum Coin BU
• 1 oz Platinum Bar New with Assay | Valcambi
• 2024 Australian Kangaroo 1 oz Platinum Coin BU
• Canadian Maple Leaf 1 oz Platinum Coin Random Year
• Australian Koala 1 oz Platinum Coin Random Year

These pieces are safe to invest in, look nice, and have interesting stories behind them.

Palladium:

Investing in Palladium can be a strategic choice for diversifying your investment portfolio, especially within a self-directed IRA. Here are some well-known palladium items that are preferred by investors and collectors alike.

• Canadian Maple Leaf 1 oz Palladium Coin Random Year
• 100 Gram Palladium Bar New with Assay | Valcambi
• 1 oz Palladium Bar Varied Condition | Any Mint

These items hold intrinsic value and bear a mark of quality and trustworthiness in the precious metals market. By buying these metals for your IRA, you can make your retirement savings more secure and spread out your investment risks.

2. Sell to Us Service

Provident Metals offers a “Sell to Us” service, where you can get top dollar for your precious metal coins and bars, including gold, silver, platinum, and palladium.

This service is designed to make the selling process quick, simple, and worry-free, ensuring you get the most value for your metals.

How to Sell Your Precious Metals

To sell your precious metals, simply follow these steps:

1. Call Them To Get Your Price: Contact them to get a quote for your items. Their industry-leading buyers will provide competitive prices. Once agreed upon, you will receive an email confirmation detailing your prices, a packing slip, and shipping instructions.
2. Ship Your Items: After receiving your email confirmation, you have until the next business day to postmark your items. While shipping is your responsibility, Provident Metals offers recommendations on how to securely package and ship your items. Speed in shipping ensures quicker processing and payment.
3. Payment is Released: Once Provident Metals receives and verifies the contents and authenticity of your shipment, they will issue your payment within three business days.

Payment Options

When you sell your precious metals to Provident Metals, you can choose from one of three convenient payment options:

• ACH (Electronic Check): This option is free of charge. It’s a secure and efficient way to receive your funds directly into your bank account.
• Paper Check: The paper check option costs $30 and is mailed to your address.
• Wire Transfer: For a $25 fee, you can opt for a wire transfer. This is one of the quickest ways to receive your funds, though your bank may charge incoming wire fees.

To use the “Sell to Us” service, ensure your entire purchase order reaches a minimum of $1,000. Even if you do not see your items listed on Provident Metals’ website, they may still make an offer. It’s recommended that you call and speak with their purchasing department for more information.

3. Investing Guide

Visit the Provident Metals Knowledge Center. You will find lots of helpful information that is important for new people or already know much about investing in precious metals.

Here is what you can learn:

• Glossary Terms: If there’s a word you don’t understand, you can look it up in the glossary. This part has many terms used in the precious metals market and helps you learn the words used by experts.
• Bullion Investment Resources: This section is very useful because it provides many details about investing in different precious metals, such as gold, silver, platinum, palladium, and copper. It also teaches you the basics about these investments and other important things you need to know.
• Collectible Coins: If you like collecting special coins, this section is for you. It gives you information about many collectible coins’ design, technical details, and history. This helps you understand and enjoy collecting coins more.

The Knowledge Center is designed to help investors by providing them with the resources and information they need to make good choices about investing in precious metals. Whether you are just starting out or want to learn more, the information here is easy to understand and useful.

Provident Metals Payment Policies

Provident Metals offers clear payment options to suit different customer needs. When you place an order on their website, you enter into a fixed agreement.

Prices can change with market shifts, and the company has the right to adjust or correct prices if mistakes occur.

Payment methods include Bank Wire, ACH/eCheck, Personal, Cashier’s Checks, Money Orders, and Bitcoin, often offering discounts for some methods. They don’t accept PayPal, Credit/Debit cards, Apple Pay, or Google Pay.

Payments via bank wire must be completed within one business day, and checks should be sent within this period to avoid order cancellation under their Market Loss Policy. E-checks might process funds on the same day, and other approved methods speed up order processing.

Provident Metals Shipping Policies

Provident Metals ships items only in the United States and offers free shipping if you spend $199 or more. They start sending items only after they get the payment.

Usually, it takes 5-10 days to ship if you pay with them. Paying with a personal check takes a little longer, as they wait at least five days to ensure the check is good before shipping.

They use USPS or UPS for shipping; you can sometimes choose faster delivery. All items are sent with insurance, and they take care to package everything in a way that doesn’t show what’s inside.

Also, large orders over $1,000 will need someone at home to sign when delivered. For small orders under $199, shipping costs $9.95, but it’s free for orders over $199.

What are the Customer Reviews and Ratings for Provident Metals?

Customer feedback for Provident Metals shows that people have mixed feelings about their service. They’ve got great scores with the Better Business Bureau, but other websites show that some customers had issues.

Here’s a simplified table of Provident Metals’ ratings and the number of reviews on various websites:

Provident Metals gets both good and bad reviews. Happy customers like their good prices, quick shipping, and helpful customer service.

But some people had bad experiences, like getting damaged gold bars or lost shipments that were not refunded or replaced by the company. While some praise the company, others warn to be careful when buying from them because of these issues.

Pros and Cons of Provident Metals

Choosing Provident Metals to buy precious metals has its ups and downs. Here is a simple explanation.

Pros:

• Great Prices: Provident Metals often has sales where you can buy coins and other metals for less money.
• Helpful Guides: They give you information that is easy to understand, especially if you’re new to this.
• Lots of Options: They have a big selection, so finding what you need—whether for collecting or saving—is easy.

Cons:

• Not Like Before: Recently, some customers have found they’re not as happy with the service, and the company hasn’t been quick to solve problems.
• Selling Back Can be Tricky: If you want to sell metals back to them, there are some rules that might make it harder than you’d expect.

So, Provident Metals is great for finding deals, learning about precious metals, and enjoying a wide selection. But, you might want to think twice because of their recent customer service issues and some rules about selling metals back to them.

Is Provident Metals Legit?

Yes, Provident Metals is one of the most well-known and top online gold dealers. They offer good deals on gold and silver and have lots of choices.

Their safe delivery methods and clear customer support add to their trustworthiness. Many buyers have shared good things about them online, showing they’re a genuine business.

Frequently Asked Questions

Q1. Does JM Bullion own Provident Metals?

Yes, JM Bullion acquired Provident Metals in August 2019, aiming to enhance its services and products within the precious metals industry.

This strategic move was part of JM Bullion’s efforts to expand their market presence and offer a wider range of products to their customers.

Q2. Does Provident Metals have any pending lawsuits?

Yes, Provident Metals is involved in a pending lawsuit titled Shugart v. Provident Metals, Inc. et al. The case, filed in Pennsylvania Eastern District Court, addresses various legal issues.

Detailed case information and updates are accessible through platforms like UniCourt, highlighting the proceedings’ current status.

Q3. Where is Provident Metals headquarters?

Provident Metals is headquartered in Dallas, Texas. This location serves as the principal office from where they manage their online precious metals sales, including gold, silver, and copper products, catering to investors and collectors across the United States.

Conclusion

In conclusion, Provident Metals is widely regarded for its comprehensive selection of precious metals, competitive pricing, and trusted customer service.

Their commitment to providing a secure and straightforward platform for buying gold, silver, and other metals makes them a favored choice among investors. Overall, Provident Metals stands out as a reliable resource for precious metal investments.

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