What is Liberty Metals Group? Is it still operational? Welcome to today’s review in which we shall take a look at this company in a bid to establish whether it is one that you should turn to, or one that you should stay away from. If you searched for it and landed here, you’re in the right place. Let’s dive into it right away:
Name of the company: Liberty Metals Group
Official Website URL: http://libertymetals.com/
Overall Rating: [N/A]
Recommended: Not recommended
Important to mention before we go into more details of this review:
We always strongly recommend doing your research online before you choose a company to invest with. There are so many reviews online of clients being ripped off and scammed. The most common way people are getting scammed is through so-called “hidden fees” so please investigate thoroughly before you make your decision.
With that being said, let´s continue with the review on Liberty Metals Group!
Table of Contents
- What is Liberty Metals Group?
- The Service offered
- How did Liberty Metals Group Work? (Getting Started)
- Did Liberty Metal Group offer IRA services?
- How customers opened Precious Metal IRAs with Liberty Metals Group?
- Payment methods accepted when paying for precious metals
- Did Liberty Metals Group have minimums for purchase?
- Did Liberty Metals Group buy precious metals from individual sellers?
- Is Liberty Metals Group Genuine or Is It a Scam?
- Pros and Cons
What is Liberty Metals Group?
Liberty Metals Group was a San Diego-based company that had established its business as a global supplier of precious metals. Customers looking for gold, silver, platinum, and palladium products could access coins and bars from this company. The company was founded in 2010 and was one that claimed to be one of the largest suppliers of precious metals in California.
From the company’s website, the company had the following goals and objective :
´Our goal is two fold; we want to be able to deliver a professional looking website that shows our current buy and sell prices for our products and we also want a physical presence in the form of an actual store location.
From our buying experiences, we always feel more comfortable buying from a company that has an actual store location instead of a company that is strictly internet based and only has a mailing address.”
The founder of this company was Mark Lonneker who claims to be an expert in stock market investments. Unfortunately, this company is no longer operational, and as we shall see in the reviews section, its ratings were not close to impressive at the time of closure.
The Service offered
Liberty Metals Group was one that was out to serve a global clientele. Its operations were structured to facilitate the well-being of long-term investors. Those seeking ways to invest for their retirement years were welcome to utilize this company’s services. The main offerings include:
- An Ecommerce facility –customers could rely on this facility to purchase available precious metals.
- Investment/retirement vehicles – gold and silver IRAs
- Gold and silver bullion – IRA eligible
- Gold, Silver, Platinum, and Palladium bars.
How did Liberty Metals Group Work? (Getting Started)
There were different ways to get started with this company, depending on the service that you were in need of. As is the case with most eCommerce platforms, shopping for precious metals was simply all about accessing the official website, selecting the precious metals, and going through the checkout process. There’s concrete information about how accessing the retirement investment vehicles was made possible, but like we have seen in almost every other firm of this kind, calling the customer support department is always a good place to start.
Did Liberty Metal Group offer IRA services?
Yes. As we have already seen, this company had its doors open for all customers whose objective was to invest through precious metal IRAs. There are some companies that provide IRA services without necessarily owning a comprehensive collection of assets. Liberty Metal Group, however, made it possible for customers to purchase IRS-approved precious metals for their gold and silver IRAs. Liberty’s focus was on precious metal IRAs, hence you couldn’t use other types of assets (traditional or non-traditional) to invest for your retirement years.
Important: Please make sure that you know exactly what fees are associated before you sign anything, I have seen so many reports online of people getting surprised with so-called hidden fees that they had no idea about until it was too late. Transparency is what you want to look for in this industry.
**My #1 recommended gold & silver IRA company is 100% transparent + they got a few other benefits you might want to have a look at if you are interested in a new IRA, see this page
Precious Metal IRAs with Liberty Metals Group?
There’s not much information about how this company structured its IRAs, and the steps customers had to follow to open an IRA. We do know, however, that a standard approach for opening an IRA of any kind nowadays is through calling the company in question (its precious metal experts). Most of these experts can help you come up with a solid investment plan based on a number of factors, including your budget, the number of years to retirement, and your financial goals. This is an approach that I would guess that Liberty Metal Group’s customers could use to create new IRAs. Like most other companies in this industry, Liberty Metals Group also made it possible for customers to roll over the funds in pre-existing IRAs to precious metal IRAs.
See my #1 recommended gold & silver IRA solution on this page
Payment methods accepted when paying for precious metals
Unfortunately, there’s no information about the payment methods allowed by Liberty Metals Group. With the knowledge that this company allowed customers to rollover funds into precious metal IRAs, then we can only begin to imagine that checks were used to complete the transaction. This happens with most IRS-approved precious metal IRA rollovers, as the appointed custodians transfer the funds to purchase the customer’s preferred precious metals.
Did Liberty Metals Group have minimums for purchase?
It’s hard to establish whether this company had set minimums for the purchase of precious metals since its website was taken down. If the company ever resumes its operations, then we shall update this information to see to it that you have such details right.
Did Liberty Metals Group buy precious metals from individual sellers?
Yes. Beyond selling precious metals to its customers, Liberty also accepted a wide variety of the same metals from different sellers. You could, as such, sell the following products to Liberty:
- Gold and Silver Eagles
- Gold Buffalo Coin
- Canadian Gold and Silver Maple Leaf Coins
- Gold Francs and Sovereigns
- South African Krugerrand
In addition to that, Liberty Metal Group also purchased gold jewelry and sterling silverware sold by various sellers.
Is Liberty Metals Group Genuine or Is It a Scam?
Liberty Metals Group was a genuine company that simply went out of business. knowing that this company is no longer in business can help with preventing you, as a potential customer, from being taken advantage of. I took a look at the reviews available about this company and discovered that it was not doing quite well before it went out of business. Customers, on various consumer trust sites, pointed how unreliable this company was. On BBB, this company has an F rating which is the lowest that any company gets on this platform for performing poorly. It was alleged that Liberty Metals Group had delivery issues that led to some customers not receiving the products they paid for. It seemed like Liberty Metals Group was experiencing financial hardship, which made it impossible for this company to fulfill its orders in good time.
**Have a look at how these top-rated alternatives to Liberty Metals Group that offers precious metals IRA Services are matching up
Pros and Cons
- Extensive product offerings (customers could purchase and sell a wide variety of products to this company)
- Out of business
- Poor customer reviews
Do You Own or represent Liberty Metals Group?
If you are a representative, or associate of Liberty Metals Group and have found something not to be correct in this review please, feel free to tell us and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or simply by sending us an e-mail to firstname.lastname@example.org.
Verdict: no longer in business
Overall Rating: [N/A]
Liberty Metals Group was a company that was out to make it possible for investors to achieve their long-term investment goals. By supplying them with a wide collection of precious metals, and enabling them to open precious metal IRAs, Liberty Metals Group had positioned itself to be the investors’ companion. Unfortunately, it could not keep up with the expectations customers had for it, and it eventually went out of business. If you still need a company to deliver the services provided by Liberty Metals Group (and even more) have a look at my recommended alternatives in the link below:
That will be all for this review on what Liberty Metals Group is all about. I hope you now know what to do next based on the information you’ve collected about it as an investor. If you’re still out in the dark with regards to investing in precious metals for your retirement years, kindly let me know so that I can help point you in the direction of some of the most reliable firms in this industry.
I wish you well,
Eric, Investor and Team Member at Gold Retired!