Many people worldwide have decided to invest in precious metals, as doing so is a reliable way of saving money and eliminating the risk of inflation. This is especially useful for those who want to save for retirement and ensure their fund doesn’t lose value over time. However, many precious metals companies are out there, which can make it complicated for these people to decide where to buy their precious metals.
That’s why we created the following guide on one of the most popular precious metals companies, Penn Metals. In this article, you will learn everything about this company and its precious metals to decide whether it is a good choice for you or not.
What Is Penn Metals?
Penn Metals is a top-rated precious metals company that opened its doors in 2013. It is famous for having a wide selection of precious metals, including rare bullion and coins that are difficult to find in other places.
This interesting precious metals company operates from the heart of Texas, but many people believe it is actually located in Philadelphia. There, you will find all sorts of precious metals, including gold, platinum, silver, palladium, and rhodium.
It also features one of the best prices on the market, with no hidden fees and fantastic customer service provided by highly trained brokers that will ensure you get the best possible experience when buying and owning metal goods.
Although Penn Metals has become extremely popular among the precious metals community, and many collectors chose it as their preferred source for buying and selling all sorts of metals, it is currently closed to the general public. It closed its doors on December 9, 2017, due to a personal health crisis suffered by its owner, which made it impossible for him to continue managing the business.
Therefore, this company isn’t a reliable source of precious metals anymore, as it hasn’t accepted new orders since then. It is crucial to point out that this precious metals house had an extremely high volume of clients, as it processed nearly 30,000 orders for over 8,000 clients in only 10 months of 2016. The company’s owners are highly grateful for all the support and love shown by the precious metals community.
Nowadays, most orders have already been shipped to their respective owners, but others remain open. This company has had problems ensuring order fulfillment since it closed its doors, but nearly all customers have received their assets without issues over the past few years.
Penn Metals Pros and Cons
After analyzing the performance of this company, we summarized it in the following pros and cons lists.
Pros
- All owners would have full insurance for all their assets
- Its site is highly intuitive and has a great user experience
- During the shipping, all orders would get assigned a tracking number so they would be easily identified
- It has incredible security that makes sure no piece is damaged during transportation
- The featured payment methods are ample enough so that virtually everyone can easily acquire their metals
- It is one of the best-rated precious metals companies in the world
- Overnight shipping is available as an upgrade
- All transactions are highly secured and executed as fast as possible
- The Better Business Bureau rates it with an A+
- It is constantly upgrading itself thanks to its customers’ comments and suggestions
Cons
- The company has currently closed its doors
- Some clients had problems with obtaining their refunds or shipments after it closed down
Great Alternatives to Penn Metals
Although Penn Metals has a fantastic reputation for having a wide variety of rare precious metals, you must search for suitable alternatives, as it is no longer open to the public. Some of the most recommended companies are the following:
Augusta Precious Metals
At Augusta Precious Metals, you will find a fantastic way of investing in your gold and silver IRAs. It is also among the best-rated companies by the Better Business Bureau and other websites, such as Trustlink, BCA, and Google. Read my complete Augusta Metals review here.
Goldco
This company delivers both precious metals IRAs and direct metal purchases, and it prides itself on providing its customers with a safe and efficient service. It also allows clients to use their 401ks to buy cryptocurrencies. Read my complete Goldco review here.
American Hartford Gold
If you’re looking for a reliable company to buy precious metals collectibles that are IRA-approved, this is the right firm for you, as it has a wide variety of coins and billions. Read my complete American Hartford review here.
Bottom Line Of My Penn Metals Review
In summary, Penn Metals used to be a fantastic place to buy precious metals, as it was highly reliable and effective for its clients. However, it is currently closed and probably won’t open again anytime soon.
If you want to learn more about great places for buying precious metals, check out the rest of our pages for more reviews like this. You’ll find TONS of reviews on this category page, so be sure to check it out.