Texas Precious Metals Review

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With so many different precious metals dealers available to choose from in the marketplace nowadays, a lot of investors are finding it increasingly difficult to choose the right one.

There are even some bad actors in the marketplace which leads some investors fearing of being scammed. It can be difficult to identify a real company versus a bad actor.

Unfortunately, it is not unusual where investors have been scammed and taken advantage of within this field. In this article, you will learn about Texas Precious Metals. A company that was established way back in 2011.

Throughout this article, you will get pertinent questions answered so you can make a good decision regarding whether or not you can trust them.

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Background Information of Texas Precious Metals

tpm homepage

This company was founded in 2011. It's since become one of the biggest gold and silver dealers in the United States. The company is headquartered in Shiner, TX.

They are a member of the American Numismatic Association, the Industry Council for Tangible Assets, and the Certified Coin Exchange.

The company's total yearly revenue reached as much as $153.3 million with only 12 employees registered in 2014. Since it was formed in 2011, they've managed to process over $1 billion in total transactions.

They have both a web and a physical footprint in the state of Texas.  It was in 2013 when the University of Texas A&M advertised that the company was the single fastest growing business that's Aggie-owned.

The magazine INC recognized them within their 100 fastest growing private companies in America list in 2015.

They have a company-led mission to provide exceptional value to its clients through offering high-quality products, low markups, an easy ordering system, and the best customer service in the business.

They have a website that manages to be an exceptional platform because it includes much useful information which makes it simple for prospective customers to get the information, they need to make informed decisions. It's also very accessible and easy to navigate.

Products and Services

Texas Precious Metals offers a lot of different coins and bars featuring mostly silver and gold. You can also find palladium and platinum being offered on it. They have a very significant amount of inventory of different precious metals. They have a lot of IRA-eligible precious metals which makes them a good option for a precious metals IRA.

Here are some of the different IRA-eligible metals they offer:

  • Gold

- Australian Gold Kangaroos/Nugget
- American Gold Eagle
- Canadian Maple Leaf Gold Coin (Various Conditions)
- Royal Mint Gold Britannia
- Rand Refinery Gold Bar 1 oz
- Credit Suisse Gold Bar 10 oz

  • Silver

- Texas Silver Round - Revolution Series
- Perth Mint Silver Kangaroo
- St. Helena Napoleon Angel Silver Coin
- St. Helena Silver Queens Virtues Truth Coin
- British Silver Robin Hood Coin
- JBR Silver Bar 10 oz
- Asahi Silver Bar 100 oz

  • Platinum

- American Platinum Eagle
- Canadian Platinum Maple Leaf

Should You Invest in Precious Metals?

gold bars from tpm

A lot of people wonder whether or not precious metals make a good investment. They want to know whether or not it's worth investing in precious metals over alternative options.

When it comes to precious metals, it may be better to think of them as savings, or a tangible insurance policy, than to think of them as investments that will skyrocket in value.

When you pick something to invest in, you want it to generate income. This is not how it works when you invest in gold and silver. Rather, they are considered tangible assets and you mostly invest in them because they are a way to safeguard your wealth.

They don't necessarily produce ongoing income.  They become very attractive when the price is low relative to some of the other options available. This is particularly true when things like equities and other investments crash.

When the value of those assets decreases by 45% versus gold which keeps its nominal value, your effective buying power increase twofold. Though the total price of your gold hasn't increased, it has relative to what it could be if you had it in more risky assets.

There are other reasons you may want to invest in precious metals including:

- To hedge against inflation
- You get intrinsic value that does not have any credit risk
- They offer the ability to diversify your portfolio as they don't correlate with stocks

Precious Metals IRAs from TPM

Yes, you can get IRA rollover services from Texas Precious Metals. They offer self directed IRAs. This makes it much easier to invest your money in physical gold and silver. TPM has a lot of experts on staff that are willing and able to help you.

They can help you figure out what investment decisions would be best for your financial needs and goals.

Creating your IRA with them is very easy. The entire process is hassle-free. You simply follow these steps:

  • Find a trustee or custodian for your account. You can either choose one yourself or have TPM do it for you.
  • Fund it
  • Select the precious metals you want to invest in
  • Pick a depository
  • Purchase your gold or silver products - TPM will then ship the precious metals you buy to the depository.

They have a staff that is always ready and available to assist. They can help you at any moment you ask. 

They also offer several different rollover options to meet your needs:

  • Individual IRA
  • Roth IRA
  • Traditional IRA
  • Coverdell
  • SEP
  • HSA
  • Simple

Options for Secure Storage

Once you go ahead and purchase your precious metals, you would then need to find somewhere to store it. They have a depository that you can use to store your bullion. They offer secure storage solutions for any customers that open an IRA.

They also run a state-of-the-art underground class 2 and class 3 vaulting center that is completely insured by a third-party (Lloyd's of London).

They offer state-of-the-art vaults that are commonly used for long-duration storage and short-term storage. They have a very good and competitively priced depository because they offer:

- No withdrawal fees
- Reasonable monthly charges
- No setup costs
- Full insurance

Their insurance will cover the entire value of your precious metals and it will continue to adjust based on the current market conditions. It's also going to cover theft, loss due to natural disasters, and more.

- In-house security
- Segregated storage

They will store your precious metals privately. It's not going to be segregated with other customers' precious metals which means you don't have to worry about commingling issues.

International Storage

TPM has partnered with various other storage vaults externally to provide its customers with even more comprehensive storage solutions. They've partnered with a reputable storage facility located in the Caymans known as Strategic Wealth Preservation (SWP).

The brand new precious metals vault is now considered to be one of the safest and best precious metals storage facilities in the globe.

The storage depository is completely independently owned. It's also operated privately. It offers any 'N.A' investors the opportunity to internationalize all of their physical assets because it happens to be both close and offshore at the same time.

It's a storage facility that's been approved for any physical gold and silver self-directed IRAs.

It makes for a great storage option for international investors because:

  • It offers comprehensive insurance
  • It features robust and trusted security
  • They segregate all precious metals
  • Offering safety deposit boxes
  • It is independently owned
  • Being in a disclosed location
  • They have up to 3 maximum security vaults on location
  • They maintain full confidentiality

They offer just about everything you could want or need for a zero risk storage solution for your precious metals.

Is it Possible to Sell to TPM?

Yes, TPM does offer its customers the chance to sell the precious metals back to them. This allows customers to liquidate their holdings whenever they want. All of the buyback prices are listed on each page of the website.

They will even purchase gold and silver they didn't sell.  They have a very easy selling process too.

All you have to do is call Texas Precious Metals and speak to a rep to lock in the sales price.

Then ship the precious metals to TPM within 1 day. They will even offer to pick up and deliver but you could always choose your shipping provider and your insurance company.

For any shipping services, you would be required to pay for it for any transactions above $1,000.

TPM will send out an email to the client instructing them to ship the package overnight for delivery the following day.

Options for Shipping

Texas Precious Metals doesn't advertise what they don't have. If they do not have it, they won't sell it. This is the opposite of what a lot of dealers do. They will only sell what's in their current inventory and stock. Thus, you are always going to get the immediate shipment.

Within 3 days of making your payment, TPM will ship out your order in full. If they do miss the shipping window, they will make an amendment quickly. Every customer receives an accurate tracking number once the precious metals have shipped.

Every package that is shipped and in transit is fully secured. Thus, you don't need to worry about destruction, theft, or anything else. If something happens to the package while in transit, the company will replace it.

Online Reviews

You always want to read company reviews when you are weighing your options. You will find that some companies have a lot of staggeringly bad review scores. These are some of the different reviews that are noteworthy from various sites.

Yelp - 5-stars with 21 reviews
BBB - A+ rating with 5 reviews

There are plenty of reviews that showcase customer satisfaction. The majority of the reviewers have recommended using the company if you are seeking precious metals investing.

You do have some negative reviews to monitor. One specific client complained that they had unauthorized charges after they used their credit card on the site. He even went into detail on not trusting them and he managed to leave them a 1 star because of it.

However, it's easy to see that TPM likely settled things properly with this customer.

Goldstar Trust Partnership

There was a partnership announced by TPM that they would be partnering with Goldstar Trust Company. TPM ended up deciding to work with them for its custodial services.

This partnership was a big win for prospective investors. It offered a much more turnkey solution to customers of both businesses. Now, Goldstar Trust customers can store their stuff in a safe and affordable facility.

The TPM depository features 2-class and 3-class maximum security underground depositories that come with full insurance.

It makes for a significant value add for any Goldstar Trust clients. They don't have to worry about the dangers of commingling with other customers' precious metals holdings. It also helps TPM clients because they get to utilize Goldstar's world-class custodial services.

Conclusion

Texas Precious Metals is a good and reputable company. They do have fewer reviews than would be ideal. They happen to be relatively new which can explain the low number of reviews.

When you compare TPM to its competitors, the company does fall behind because it doesn't have nearly as many reviews on different reputable review sites like Trustpilot.com.

However, they have good recognition from accredited institutions like Texas A&M.

They've also been recognized by major publications like Inc Magazine. Because they have a good reputation and because they offer excellent insurance, they are a great option for investing in precious metals.

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