What is SchiffGold? What makes it outstanding? Can you rely on it to achieve any of the things it proposes to help you achieve? Let us find out about that and more in this comprehensive review, which shall take the structure below:
Table of Contents
- What is SchiffGold?
- Which Services does it offer?
- Who are the members of the executive team at SchiffGold?
- Which services does SchiffGold offer?
- Which payment methods does SchiffGold accept?
- How does SchiffGold ship the precious metals to its customers?
- Is SchiffGold genuine or is it a scam?
- Pros and Cons
Name of the company: SchiffGold
Official Website URL: https://schiffgold.com/
Overall Rating: (3.9 / 5)
Recommended: Not recommended (See futrther down in this review)
Always make sure to do your own research online in this industry, we get reports all the time of ripp-offs and scams from our readers. Make sure to ALWAYS compare different alternatives against each other, in order for you to get the best deal, and more importantly not getting scammed. What you want is complete transparency from a company, knowing exactly what fees will be accociated is very important, because the last thing you want is being surprised with so-called hidden-fees you had no idea of when you signed the deal.
What is SchiffGold?
SchiffGold exists as a full-service precious metal dealer that helps investors achieve their investment objectives by making investment-grade gold and silver bullion accessible to them. SchiffGold also offers several other related services such as vault storage partners to precious metal IRAs.
The company was founded by Peter Schiff back in 2010. At the time he was creating the company, Peter wanted to provide his clients with a reliable source of bullion. The clients would therefore only approach the company when they needed to avoid any worries that would come with purchasing fake precious metals or losing their money during their transactions.
Peter has for many years advised investors to consider investing in precious metals to shield their portfolios from being affected by market forces such as inflation. At the time Peter was starting SchiffGold, he had discovered most gold buyers were getting swindled by other gold dealers, who were selling their products at exaggerated prices. SchiffGold became the solution to this problem by offering precious metal products at very low prices.
N.B: SchiffGold was known as Euro Pacific Precious Metals until 2014.
Who are the members of the executive team at SchiffGold?
Peter Schiff does not run this company singlehandedly. He does so with the help of an executive team that sees to it that SchiffGold is operating in the best possible manner. The executive team is currently comprised of the following people:
- Matt Malleo – Executive Director and Senior Precious Metal Specialist
- Jonathan Sosnay- Executive Director and Senior Precious Metals Specialist
- Fabian Gambino- Director of Technology and Senior Precious Metals Specialist
- River Allen – Senior Precious Metals Specialist
- Joel Bauman- Senior Precious Metals Specialist
- Valerie Alikakos – Staff Accountant
Which services does SchiffGold offer?
As earlier highlighted, SchiffGold operates as a full-service precious metal dealer. It offers most of the services that you’d probably need from a precious metal dealer. The services it offers generally relate to how you will acquire the precious metals, and how you will keep them safe. Listed are the main services that SchiffGold is currently offering:
The buying and selling of precious metals
If you are getting started with gold investments, you can approach SchiffGold to help you purchase the precious metals you need at the fairest prices. If you are also looking for a buyer for the precious metals that you have stored in a certain depository, then you can reach out to SchiffGold to help you achieve this. You can sell your precious metals to them, even if you did not purchase them from SchiffGold in the first place. This company discourages its potential clients from acquiring numismatics, due to the high illiquidity risks that they bear.
Precious metal IRAs
SchiffGold also enables you to get ready for your retirement years by coordinating with you to help you add precious metals to your IRA, provided it has an allowance for a rollover. Its staff members can for instance help you convert a 401(k) plan to IRA that lets you invest in precious metals. This process is one that requires the help of qualified experts since it comes with the risk of getting penalized by the IRS.
A secure storage vault
The IRS is against people storing precious metals in their homes if they are the underlying assets in their IRAs. They recommend that all Gold IRA owners store their precious metals in a safe depository. SchiffGold makes this possible for its customers by offering vault storage partner services to those living in the USA and outside the USA.
Home storage safes
If you simply want to purchase your precious metals and store them in your house, you can talk to the staff at SchiffGold to help you acquire a safe. They will help you acquire one that is suitable for your security needs.
Research and Analysis services
SchiffGold is also committed to ensuring that its customers are up to date with the latest information in the precious metals industry. They, therefore, provide a variety of materials on their social media platforms, including:
- Live price charts for the precious metals they are
- Archives of the company’s original commentaries.
- Answers to the frequently asked questions
Which payment methods does SchiffGold accept?
This company provides up-to-date prices for the precious metal it offers. You can, however, only confirm that the purchase price at the point of purchase by speaking to a SchiffGold specialist. Upon doing this, the specialist is required to send you an email that has the payment details, such as the cost, shipping fees, as well as insurance.
Currently, the payment methods accepted by SchiffGold include:
- Bank Wire Transfer
- BitPay– for those who would like to use bitcoins
SchiffGold isn’t offering any online purchases as of now, so you have to reach out to the staff members for help with the purchase or selling process.
How does SchiffGold ship the precious metals to its customers?
Once you purchase the gold and silver from SchiffGold, it will be sent to you via:
- The US Postal Service
- United Parcel Service, UPS
It will take about 24-48hours for SchiffGold to process your order, and an extra 2 to 4 days for them to ship it. They also ship products to overseas customers as well.
Generally, the orders that are paid for via wire transfer get shipped faster than the order paid for via check.
Is SchiffGold genuine or is it a Scam?
There is generally not much provided on the ratings of this company. SchiffGold actually rides on the expertise and prowess of Peter Schiff, who is known in this industry as a no-nonsense man, who is out to offer the best possible deals to customers who need to purchase precious metals at the fairest prices.
That said, however, it is essential to have a clear picture of what a company’s services are like, based on genuine feedback. The lack of customer reviews for a company that has been around for a couple of years only reveals how weak their customer relations department is.
I don´t know about you but I would rather work with a company whose services have been recommended by many customers,
such as the ones below:
Pros and Cons
It is always a good idea to compare the positives against the negatives to get a better overall view of something, right? As always in our reviews we provide you with some clear points on both sides of the spectrum:
- Sells precious metals at generally lower prices
- They also buy back precious metals
- Storage services offered
- They can assist you with IRA rollovers
- Client education offered
- Lack of reviews about the nature of their services
- Lack of an e-commerce website
- Peter Shiff think Bitcoin is a scam… (Come on man, why not admit when you are wrong)
Do You Own or Represent SchiffGold ?
If you are a representative, or associate of SchiffGold and have found something not to be correct in this review please, feel free to tell and I will make sure to update the info on this post. The easiest way to contact us is in the comment section below or simply by sending an e-mail to firstname.lastname@example.org
Final Words and Verdict
Overall Rating: (3.9 / 5)
SchiffGold has presented itself as a company that is out to help investors to grow their wealth without having to worry much about exorbitant precious metal prices. It is one that I would highly recommend if there were enough customer reviews to back up the nature of its services, but that is lacking. I would therefore not be quick to say that it is
excellent or terrible for now. I can, however, laud Mr. Peter Schiff for the good work he is doing in this industry… However, I have a hard time understanding his hate towards bitcoin… After all, it is the best performing asset for the past 10 years… That is maybe not related to this review but I just had to mention that.
Thank you for making it to the end of this review on what SchiffGold is all about. Do you think this company is worth relying on? Let me know what your opinions are in the comments section. If you also have any more questions about this company, do let me know.
I wish you well,
Eric, Investor and Team Member at Gold Retired!