It’s nice to have a gold dealer and IRA company with a physical office you can walk into, especially with many companies focusing on online retail services. In this Pacific Precious Metals review, we’ll take you through the impressive inventory of precious metals highly regarded in the bullion market.
Company: Pacific Precious Metals
Owner: Dan Barrett (CEO)
Price: Depends on your investment
Who is it for: Gold investors, Retirees, etc
Overall rating: (4 / 5) (average)
What is Pacific Precious Metals? (Overview)
Pacific Precious Metals is a company that offers a variety of services, including bullion sales, gold jewelry sales, and precious metals IRA management.
They also provide assaying services and are known for being reputable buyers of precious metals in both bullion and jewelry. The company was founded in 2011 and has over a decade of experience in the precious metals industry.
Daniel Barrett, co-founder, and owner of Plutus Software, runs Pacific Precious Metals. The website does not mention the founders, but our research has revealed that Daniel Barrett is the company’s co-founder.
The Pacific Precious Metals Products
Pacific Precious Metals offers a variety of products, including gold and silver IRA options and general acquisition of precious metals. They specialize in providing customers with the opportunity to acquire and invest in various precious metal options.
The Gold Bullion
The company has 632 gold coin products, including all IRA-eligible coins, many antiques, and more. Their gold bullion category is too expensive to list individually. However, customers have reported that buying coins from this company is almost addictive.
Furthermore, The company has a total of 214 gold bar products from 10 different mints in various denominations, including popular private and sovereign ones, as well as some lesser-known but highly sought-after options.
In addition, they offer 18 different gold rounds from various top private mints in different denominations. This is potentially the most impressive inventory of gold products from any single company.
The Silver Bullion
Pacific Precious Metals offers a wide selection of silver bullion coins, including options from top sovereign mints. They have 335 products in the Australian category alone, totaling 587 individually listed silver coins. Prices for all products are listed and transparent.
Furthermore, Over 10 mints have produced silver bars, resulting in a total inventory of 136 products, although some from a few mints are currently unavailable. In addition, 18 different silver rounds are currently available for selection.
Being a reputable and well-known company, Pacific precious metals specialize in assaying to help protect against being swindled when selling precious metal items, especially jewelry. Smaller stores may downplay the item’s value to get a better deal.
Gold & Silver IRA Process?
Yes, Pacific Precious Metals do offer IRAs to their clients. Their process is very similar to the process of other companies when it comes to IRA services:
- The custodian will open the IRA and help you fund it through rollovers and transfers.
- You can then buy and store eligible gold and silver in your newly created IRA.
- There is no minimum investment required. However, the custodian will charge an annual fee of $800 to $1,100 to manage your gold or silver IRA.
- The bullion will be stored at your chosen facility, which may be limited to Brinks for IRA accounts.
Pacific Precious Metals Custody and Fees
Pacific Precious Metals charges custody and storage fees ranging from $800 to $1,110. This is higher than what most custodians charge, typically around $180 per year for management and $100 to $150 for storage through a depository. No fees for the depository are listed.
The company recommends My Solo 401k Financial, a lesser-known custodian located in Southern California, as an option for custodians.
Other than that you can choose some more well-known options as well:
- New Direction IRA
- Entrust Group
- Goldstar Trust Company
As such, Pacific Precious metals offer their depository services domestically through Brink’s and internationally through an unnamed company in New Zealand, which they state is more expensive.
They offer storage services to both IRA and non-IRA customers, as well as those with valuables other than bullion.
P.S. It´s good to see that they are transparent and upfront with their fees as that isn´t always the case with other companies in this industry. However, the fees are a bit high compared to most top-rated alternatives so you might want to compare to the fee deal you get from others.
Is Pacific Precious Metals a Scam?
So, is Pacific Precious Metals a scam? No, of course not, it´s a legit business with real physical owners and a real physical address. It has also been in business for 12 years and it would (most likely) not have survived that long if it wasn´t a legit one, right?
However, if it´s your best alternative out there is a whole other story, and that leads us to the online reviews to be found:
Pacific Precious Metals Reviews & Ratings
We always focus on the ratings from real customers to be found on a particular company when we do our reviews. The places that we put weight on is the most well-known and trusted independent third-party consumer protection agencies. Below is the reviews and ratings that we found on Pacific Precious Metals:
BBB (Better Business Bureau)
Overall rating: A+ (from 0 reviews) click here for details (opens in new window)
Overall rating: N/A
BCA (Business Consumer Alliance)
Overall rating: N/A
Overall rating: N/A
Overall rating: N/A
Overall rating: (4.7 / 5) (from 30 reviews) click here for details (opens in new window)
The conclusion from these ratings:
The Better Business Bureau has given Pacific Precious Metals the highest rating of A+ and has accredited the company. In the last three years, Pacific Precious Metals has had one complaint that has been closed. There are no reviews on the Better Business Bureau’s website though, so not sure what they base their score on?
On Yelp, Pacific Precious Metals apparently had a 5-star rating based on 44 reviews, however, at the moment there is nothing to be found on Yelp about the company… What´s going on?
Pacific Precious Metals has no ratings or reviews to be found on the Trustpilot site. Neither on Trustlink or BCA…
The only place currently with reviews on Pacific Precious Metals is Birdeye. The company has a 4.7 rating on Birdeye, based on 30 reviews. Of these, 27 are 5-star, 2 are 1-star, and one has no rating. The 1-star reviews do not provide any details.
In short, the company is not present on several notable consumer watchdog websites.
Are there better alternatives?
Yes I would say that there are better alternatives, we have listed all of the top rated gold investing companies on this site so you will find them all here. The company you choose in the end might depend on your personal preferences, but you will find something for all budgets on our buying guide page.
Pros & Cons
- The company offers an extensive selection of gold and silver products.
- It has multiple offices throughout the San Francisco Bay Area.
- They provide excellent service for assaying, including for items such as dental gold and other precious metal scraps.
- The company does not offer platinum coins, bars, or palladium products.
- They also do not provide free shipping.
- They don’t prioritize customer service for IRA business customers like some specialized companies do.
Frequently Asked Questions (FAQ)
Does Pacific Precious Metals offer free shipping?
Pacific precious Metals does not offer free shipping. You will have to pay a fee for shipping your products.
What payment methods does Pacific Precious Metals offer?
You can use a credit or debit card to purchase gold and other Pacific precious metals products. Bank transfer is also over.
What products does Pacific Precious Metals offer?
Pacific Precious Metals offers a variety of products and services, including bullion sales, gold jewelry sales, and precious metals IRA management.
Final words & verdict:
Overall rating: (4 / 5)
Ok I thing that sums up the overall view of this company pretty good, this is a legit business for sure. However, there isn´t many reviews and ratings to be found online. The most well-known and trusted consumer protection agencies haven´t covered Pacific much, and that is a minus (at least in my book). Thjeir fees are quite high as well, however, they seem to be very transparent with them and that is always a plus, eventhough they might be high they are at least honest with that.
They also list prices for the hundreds of products in their inventory, which instills trust in their good practices. While their IRA offering may not be as strong as specialists, the diversity of their services, including the ability to assay any product for precious metals, and multiple office locations, make them a reliable choice for those interested in precious metals.
As always, the decision it up to you to make, im only here to try to make that job a bit easier for you. Please just don´t forget to look at many different alternatives before you make any decisions.
Our #1 Recommendation:
I hope you found this short review of Pacific Precious Metals to be helpful and that you now have a better understanding on what it is and if it´s something for you or not. If you have used any of their services or purchased any products from them then please share your experience in the comment section below as it can help others!
I wish you success!
Glanz, investor and team member of Goldretired.com
Photo credit: pacificpreciousmetals.com