Endeavor Metals Group is a precious metals brokerage based in West Palm Beach, Florida. In addition to servicing local Florida clientele, the company has items available for purchase online. What do customers have to say about them, and how do they compare to the competition?
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About Endeavor Metals Group
Endeavor Metals Group is a limited liability corporation with headquarters in Florida. The company's main specialties are platinum, palladium, gold, and silver. You can also purchase certain numismatic collectibles.
The company says that they have a strong commitment to client services. In keeping with this, they make sure that every potential customer is treated with the utmost respect. They say that they want to create lasting relationships with customers and the people they refer.
Instead of using an automated marketplace, the company has you confirm your orders with a customer representative. You will create an account that will be used for all future transactions with the company. There will be a dedicated representative assigned to that account.
When you have an established account, you can give the company a call whenever you want to find out about your holdings, delivery updates, and information about current market forces.
This all sounds great. And there are some positive customer reviews on third party websites. But we've also found a fair number of complaints, many of which raise red flags. It's possible that this company uses high commissions and product markups to increase their profit margin.
Company Policies and Regulations
The company has certain policies and procedures in place when it comes to placing orders, receiving materials, and working with the customer service representatives.
If you want to get in contact with a member of the team, you can use the 'Contact Us' page. There is a form that allows you to send a query along with your contact information. You can also give the office a call at any time from 8 AM to 5 PM EST on Monday through Friday.
You cannot check out online. Instead, you need to call and talk to a sales representative. This is a fairly common setup in the precious metals industry, but it can sometimes lead to issues with the pricing.
The company doesn't have any maximum order limit. However, if the company decides that your purchase is significant enough, you will be asked to make a 10 percent deposit before locking in your price. The company will not sell to clients who have been deemed a fraud risk.
For the most part, this rule applies to orders of more than 25,000 dollars. If you plan to order anything in excess of this, you should talk to your account representative beforehand so you know whether you should have a deposit prepared.
Once you have confirmed an order, the company will package and ship it promptly. They say that it is difficult to change the contents of an order after the price has been confirmed. Their suggestion is that people ought to do ample research before making a purchase.
Part of the research involves talking to any investment or tax professionals about what precious metals are best for your portfolio. Endeavor doesn't function as part of this process, so you'll need to have third parties available.
The company states that customers will never pay more than the posted price of a product. Instead of tacking on commission fees afterward, everything is rolled into the listed price.
That said, the company also never stated that they don't use commission fees -- only that any potential commissions are factored into the sale price. So even if the fees aren't hidden, they might still exist. It's always best to check product pricing against the competition and the global market value of the metals.
If you order in bulk, you might be able to get a wholesale discount. The company has shipping incentives for larger orders as well. When you put together an online order, you'll be able to see the different discounts for larger quantities.
Endeavor Metals Group allows a variety of different payment methods. If you are paying using Paypal or a credit card, you'll need to pay an extra fee. But if you use a check, money order, or bank wire transfer, you'll only pay the quoted price.
Credit cards must be issued in the US or Canada. You can also use precious metals of your own to trade for new precious metals if you want. If you do intend to do this, make sure you talk to your representative about the quote for your existing metals.
You can use a personal check, cashier's check, certified check, or money order. Unlike many precious metals dealers, Endeavor Metals Group allows you to pay using Bitcoin.
The different types of payment are subject to different payment thresholds. If you're making any purchase of more than 25,000 dollars, the company strongly prefers that you use a bank wire transfer instead of a check or a credit card.
Once you confirm your order over the phone, your price will be locked in. You can keep that price for five business days, which is how long you have to send your check or transfer your funds. If your order is more than 25,000 dollars, you'll have three days to send the payment, and you might need to make a deposit first.
This is a significantly longer time period than many other competing precious metals dealers. But it's very difficult to cancel an order once you've placed it. So you should only order precious metals if you know you'll be able to make the payment.
Shipping is completely free on every order. You don't need to meet any minimum threshold to have your items shipped to you.
Is Endeavor Metals Group a Scam?
Endeavor Metals Group is not a scam. This is a legitimate company that operates from a legitimate headquarters. But they don't have any accreditation with the Better Business Bureau, and there are concerning elements of their business practices.
Given the information in some negative reviews of the company, it seems likely that the salespeople work on commission. High commission rates mean that you'll pay for your metals well above market value, making them difficult to resell for a profit down the road.
There also isn't a huge online presence for the company. Despite claiming to be one of the leading precious metals dealers in the country, they don't have the same loyal online customer base that the top dealers do.
It's better to work with a precious metals firm that has consistently well-reviewed customer service.
Pros & Cons of Endeavor Metals Group
Endeavor Metals Group is a legitimate precious metals firm based out of Florida. But though they're legitimate, they might not be the best option on the market. Despite promising top notch customer service, it's possible that their sales team works on commission and charges higher prices than you should be paying.
The negative reviews of the company online raise some red flags. People have said that they were misled about the products that they were buying, or that they were given completely false information. The company itself doesn't have any price guarantees or strong policies explaining how they price their metals.
All in all, the red flags make this a company we can't recommend. It's better to go with a more reputable and popular dealer instead.
Although we do think that Endeavor Metals Group is a decent company, we believe that there are better companies out there to make your investment with.
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