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Monarch Precious Metals is a precious metals refinery based in southern Oregon. They were first established in 2008 as a direct response to the global financial crisis. The demand for precious metals skyrocketed, leading to an opportunity to get involved with the industry.
Monarch mints silver and sells it to investors. But what should you know about the company's practices? What do past customers have to say? We've taken a look at everything you need to know.
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Products and Services
Because Monarch Precious Metals is a refinery, they are able to mint silver into bars stamped with their logo. They also have a variety of other precious metals, coins, supplies, and gift ideas available through their online marketplace.
The company does not appear to make any effort to set apart materials approved for precious metals IRAs. If you want to fund a precious metals IRA, it's better to use a specialist. Specialized companies know exactly what IRS regulations to follow and can guide you easily through the entire process.
The company's biggest specialty is silver, since that's the bulk of what the refinery processes. You can choose from silver rounds, bars, specialty products, and novelty products.
When you look at the silver rounds available, you can choose a one ounce silver zodiac round, rounds for specific occasions and holidays, or oversize and fractional rounds.
The silver bars are one of the company's unique features, as they include minted skull bars, building blocks, and other specialty bars. The specialty silver covers the skulls, building blocks, and the company's Egyptian series silver.
The company does process some gold through the refinery, too. You are able to purchase fine gold rounds emblazoned with Monarch's company name and different designs. Each round is sealed in a capsule prior to shipping.
There is also a 1/10th ounce gold bar available for sale, which arrives sealed and packaged. However, there are no other gold bar designs or weights available.
The gold selection is much more limited than the silver selection, since the company mainly focuses on refining silver products.
Copper isn't always considered a precious metal. But there are some copper products available through the Monarch Precious Metals website. These are even more limited than the gold selection, and include:
It's not the best selection if you're looking for a wide variety of copper bars and rounds.
❑ Gift Ideas
The company has put together a section of their website that includes gift ideas for spouses, family members, and friends. There are categories for pure copper gifts and fine silver gifts, as well as custom engravings on items.
Some of the silver gifts include custom engraved poker chips, Bigfoot coins that come in a gift bag, Dia De Los Muertos sugar skull silver rounds, spinning top toys made out of silver, and 3D minted silver baseballs.
These are just a few of the unique products that the refinery manufactures. They tend to be more like novelty items than like serious investments.
The most common copper gifts are zodiac rounds. Each of these rounds is printed with a design based on one of the twelve zodiac signs. They make an ideal gift if you know anyone who's fond of astrology and cares about their star sign.
Most of the gift items will come with their own gift box or bag. But if you want to choose your own gift box, there's a section of the website for that as well. You can purchase packaging for your silver and copper, even if you don't buy the precious metals alongside it.
In addition to gift boxes, some of the packaging options include genuine leather pouches, genuine leather drawstring bags, and airtight plastic capsules made to protect and display different coins.
❑ U.S. Coins
The refinery sells a variety of United States coins in different packages. Depending on what type of collector you are, they might have items that appeal to you.
For example, you can purchase a roll of pennies that are all dated prior to 1940. There isn't any information about the exact years of the coins or their potential value. If you're someone who loves investigating your coin purchases, the mystery might tantalize you.
Another option is a bag of 5,000 mixed date pennies that are all wheat cents. You might find pennies that are from the years 1909 up through 1958. These aren't the only wheat cents bags, as there are other rolls and bags with combinations of wheat cents.
You can purchase a roll of pennies made of copper as well. These pennies range in their dates and have a variety of different mint markings.
If you're interested in Buffalo nickels, you can purchase a roll of 40 of these coins. Like with the other rolls and bags, the coins range in their minting date and quality.
Finally, the refinery sells supplies for coin collectors. You can peruse pages of coin tubes, coin folders, and coin albums. Each is optimized for a different collector's purpose.
Some other miscellaneous coin collecting supplies are available through the website. Like with other categories, these tend to be novelty items more often than serious collection pieces.
You can purchase books that give you a guide to the coins minted by certain refineries during specific periods of time. You'll also find the gift boxes, leather storage bags, and airtight capsules that are listed in the gift section.
There are some gaming supplies available for people who purchase copper dice or dominoes. You can get a leather gaming mat in black or brown coloring. Both of these options are crafted from premium full grain leather.
The company does not have any selections for platinum or palladium, and they do not offer precious metals IRA services.
Is Monarch Precious Metals a Scam?
There aren't any firm indicators that Monarch Precious Metals is a scam, but there are some concerning red flags. It's possible that the company doesn't have very good service policies or management, even if they are legitimate.
The business doesn't have any accreditation with the Better Business Bureau. Both customer reviews on the BBB website give the company a rating of 3.
There are more poor reviews on third party websites that compare gold dealerships. People say that they have run into problems with the company sending the wrong orders, pressuring people into new purchases, and refusing to call back when there were issues with an order.
Monarch does seem to be a legitimate company. There's enough evidence that they operate a refinery and sell the products they say they do. But just being legitimate isn't enough. There are plenty of precious metals dealers with a better reputation who'd be happy to work with you instead.
Pros & Cons of Monarch Precious Metals
All in all, Monarch Precious Metals sounds like a great company -- at first. But there are red flags that you don't want in your precious metals dealer. Customers say that they've had issues with their orders, pushy salespeople, and being ignored by customer service representatives.
Monarch doesn't offer anything that you can't get with a different precious metals dealer. And plenty of other online dealers have much more positive customer feedback. It's better to invest with one of those than to waste time with a company that might not give you a good experience.
Although we do think that Monarch Precious Metals is a decent company, we believe that there are better companies out there to make your investment with.
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