Right away, Orion Metal Exchange stands out from the crowd because it boasts that it not only enables its clients to purchase gold, silver, platinum, and more via its company but that it also works with all IRS-approved depositories and custodians in the U.S., which enables their IRA account holders to locate the best storage and custodial services to suit their needs.
They further add that their dedicated IRA Department will also even assist you with choosing the most budget-friendly options for the best value.
In the meantime, while establishing your precious metals account, should you opt to roll over some or all of the savings from an existing retirement plan, they will also work with your current account custodian to facilitate a direct transfer of the funds. This way, you don't risk tax and other penalties.
Our review of Orion Metal Exchange in a few words
Company name: Orion Metal Exchange
BBB grade: A+
Summary: Orion Metal Exchange stands out as one of the best precious metals companies in the industry, with their 40 years of combined experience in the field that enables them to provide their clients knowledge, market insight, and service like no other, which over 200 satisfied customers also attest to.
They also have a fee-free buyback program that enables their clients to keep more of their money during their precious metals sellbacks to them, which also helps set them apart from other companies.
The company also enables you to lock in the best prices for your purchases with just a single phone call. So for all those reasons and more, we recommend them as a precious metals company to definitely check out.
Our rating: 4.5/5
Should you work with Orion Metal Exchange in 2023?
We understand how difficult it is to choose a reliable precious metals company to work with. For that reason, we created a list of gold IRA dealers that we think are best to avoid. Click on the button below to make sure Orion Metal Exchange isn’t one of them and discover our top 3 recommendations for this year.
Clients Benefit From 40 Years of Combined Precious Metals Industry Experience
The company also boasts that it has 40 years of combined experience in the precious metals field, which enables them to better understand its clients' needs.
Hence, they state that they pride themselves on being a full-service precious metals investment company so that their clients can benefit from their executive's combined knowledge of the market, insight into gold, silver, platinum, and palladium performance, and other industry experience for the best outcomes.
One way they help ensure their clients benefit from their industry knowledge and insight is by providing them with professional assistance throughout the entire IRA process so that they fully understand how to make the best choices for their account based on their retirement goals.
They also offer various free educational resources on their site to help supplement their learning.
NGC and PCGS Authorized Dealers and ICTA Member
Orion Metal Exchange is also a proud member of the Industry Council for Tangible Assets, also known as ITCA, which helps the company remain up-to-date with all federal and state laws and regulations and more for better compliance.
They are also NGC and PCGS-authorized precious metals dealers for added trust.
Orion Metal Exchange’s Pros :
Industry Reputation for Offering More Metals for Your Money
Orion Metal Exchange states that they have a reputation in the industry for providing some of the best prices on their precious metals, which they also accredit to their years of experience in the field. Thus, it enables their clients to get more gold, silver, and more for the price.
Their low cost also applies to all their precious metals coins and gold bars, which include:
- Gold American Eagle, Gold Canadian Maple Leaf, and Gold Royal Canadian Mint coins in various ounces.
- Gold Great Britain Queen Beast, Gold Rose Crown Guinea, U.S. Gold commemorative coins.
- Gold bars in various sizes, and types, including IRA-approved.
- Silver American Eagle, silver Canadian Maple Leaf, and silver Royal Canadian Mint coins in various ounces.
- Silver Rose Crown Guinea, silver Great Britain Spade, silver America the Beautiful coins.
- Silver bars in various sizes and types, including IRA-approved.
- Platinum American Eagle coins in various ounces.
- Platinum Striped Marlin, Emperor Penguin, Humpback Whale, Bottlenose Dolphin, 1812 war, Australian Phoenix, and Rose Crown Guinea coins.
- Platinum bars in various sizes and types, including IRA-approved.
- Palladium Maple Leaf and American Eagle coins.
- Palladium bars in various sizes and types, including IRA-approved.
You can also learn about each coin before you buy it simply by clicking on the description button below it, which will take you to its description page.
The company states that some coins and bars are based on availability, so be sure to call and check that your chosen product is indeed available before you buy online to prevent disappointments during your purchase.
No-Charge Buyback Program
Orion Metal Exchange boasts that what also makes them different than other precious metals companies is they offer to buy back their clients' gold, silver, and more without additional fees.
They state that their fee-free buyback policy has been in place since their company opened and is available only to their clients.
This way, their clients benefit from receiving the full market price of their precious metals at the time that they sell them back to the company.
The company boasts that they also make it easy to lock in your buyback price with a simple phone call, even if you are liquidating your precious metals via an IRA depository.
They also promise you can receive your payment in about 4 to 5 business days once they receive your precious metals.
Insured Delivery of Your Precious Metals to Your Residence
Once you have called the company's tradeline and locked in your purchase price for your precious metals, you can then buy gold, silver, platinum, and palladium coins or bars in under a minute.
And then, when your payment is received, either via wire transfer or check, your precious metals will be shipped to you via an insured package.
Your package will also include a tracking number so that you can track it en route to your residence.
Interactive Market Charting Tool
Orion Metal Exchange states that it is their goal to help educate their clients about the market and how different trends affect it to help them better plan their finances for the future.
Hence, they offer a free interactive market charting tool on their site for you to compare precious metals prices over time due to various market factors to help you determine the best price to buy.
They also provide plenty of news articles on their site to help you gain more insight into how precious metals work as an inflation hedge in down markets and more.
Receive up to $30,000 in Free Gold and Silver on Qualifying Purchases
Orion Metal Exchange also offers occasional promotions to their clients to help sweeten the deal even more.
For instance, as of now, customers can receive up to $30,000 in free gold and silver when they make their purchases.
However, the promotion only applies to orders over a certain amount. So when you contact the company to buy your precious metals, be sure to ask if your order qualifies.
Their cons :
Their Minimum Required Investment and Company Fees Not Included on Their Site
Though Orion Metal Exchange states that it works with all IRS-approved custodians and depositories, thus explaining why they don't list their specific fees on their site, they also do not list their own fees for their service, which is also important to know when determining if it is the right company for you.
For instance, some precious metals companies charge an account setup fee and a wire transfer fee, and they also usually have a minimum required investment, which will also factor into your costs.
Is Orion Metal Exchange a Scam?
What We Found On Governmental Sites
After checking various search engine results for the keyword search “is Orion Metals Exchange a scam,” the first thing we observed is that nothing involving the company came up in connection with the issue on any .gov sites.
Hence, this is one of the most certifiable ways to determine that Orion Metal Exchange is a real company whose profits are not incurred from taking advantage of unsuspecting customers.
What We Found on Their BBB Profile
The Better Business Bureau is another trusted authority that many consumers consult to see how it ranks a business, which is done using various strict factors. Therefore, if a company passes with their highest rating of A+, it typically means it is not a scam.
So we also checked Orion Metal Exchange's BBB profile and found that they are not only accredited with the BBB, but they also have an A+ rating. This means the organization finds the company to be legal and ethical in its business practices as of current.
Popular consumer sites, including Trustlink, Trustpilot, Business Consumer Affairs, and Google Reviews, are also good places to see if any past customers have had a fraudulent experience with the company.
On Trustlink, we found that they had no customer comments at all. However, with Business Consumer Alliance, Orion Metal Exchange has over 150 customer testimonies. But upon skimming through them, we found no client testimonies that stated that they felt scammed by the company.
On Trustpilot, the company had 2 complaints out of 150 testimonies; however, neither involved them feeling Orion Metal Exchange was not a real business.
Finally, we ended our research to see if Orion Metal Exchange is a scam with Yelp, Facebook, and Google Reviews, of which none also had any complaints from customers stating their service was a scheme.
That said, we can say that at this time, there is no evidence that supports Orion Metal Exchange is a con.
How is Their Customer Support?
Orion Metal Exchange states that they differ from other companies of its type by providing its customers with full investment services for the best in class customer support.
They boast that this best-in-class customer support includes the most reasonable prices on their prices metals, a dedicated IRA staff throughout the life of the account, and the ability to guarantee gold, silver, platinum, and pallidum pricing with just a quick phone call.
And, as it turns out, more than 300 customers across at least 4 different verified consumer review sites agree with them.
How Customers on Trustpilot Perceived Their Experience With Orion Metal Exchange
Many customers on Trustpilot shared that they had a great experience with the company and never felt pressured to buy. One customer stated that their products are also amazing.
How Customers on the BBB Site Perceived Their Experience With Orion Metal Exchange
Meanwhile, the BBB site showed that the majority of the company's customers felt that their representative was very knowledgeable and good at explaining the buying process to them, which made for a smooth, quick, and confident transaction.
One customer even stated that they felt 5 stars were not enough to describe the level of service they received.
How Customers on Business Consumer Affairs Perceived Their Experience With Orion Metal Exchange
Most of the customers on the Business Consumer Affairs site also shared various positive testimonials about Orion Metal Exchange, like how informative their company representative was, how they felt they received the very best assistance from start to finish in their precious metals transaction, and how they ended up with the exact deal they were looking for.
How Customers on Google Reviews Perceived Their Experience With Orion Metal Exchange
We also found more than 180 satisfied customer comments on Google Reviews expressing how they felt the company did a great job helping them roll over their IRA and how helpful their representative was in explaining the process.
There were also a few customers who stated how satisfied they were with their prices.
This leads us to conclude that Orion Metal Exchange's 40 years of combined industry experience really does enable them to know what customers need and want in a precious metals company, which enables them to provide their clients with the very support.
Has There Been Any Complaints About Orion Metal Exchange?
No Complaints With the Better Business Bureau
When it came to checking for complaints on Orion Metal Exchange, we also turned to their many customer testimonials on the various notable consumer review sites, starting with the Better Business Bureau site, where we found no customer complaints filed.
No Complaints on .Gov Sites
We also concluded that because we found no lawsuits against the company on any .gov sites, they must have no official customer complaints filed against them with any government entities.
2 Customer Complaints on Trustpilot
However, upon further research, we found that Orion Metal Exchange does have at least 2 complaints on Trustpilot.
One Trustpilot reviewer complained that they felt they were charged above the spot price for their precious metals coins, which made them unhappy.
And the other complaint stated how the customer felt they received rude telephone service and unwanted, repeated solicited phone calls, which made them regret ever contacting the company.
Final thoughts on Orion Metal Exchange
Their 40 Years of Experience Seems to be Paying Off
Orion Metal Exchange boasts that it is their 40 years of combined experience in the precious metals field that enables them to provide their customers with all the makings of a successful investment account.
And over 200 customers agree, hailing their knowledge, thoroughness, and patience with them throughout the process for superior customer satisfaction.
The company also states that they have a reputation for some of the best prices on their products compared to their competitors, and most customers also felt the same; however, we did find at least one customer that felt otherwise.
Just be sure to call and lock in your desired price before your purchase to ensure you get the value you want.
They Work With all IRS-Approved Custodians and Depositories
Typically, we have an issue with a precious metals company failing to list which custodians and depositories they work with because it doesn't give customers a chance to do their research on their preferences to know if they are the best for them before they call the company.
However, Orion Metal Exchange state that they work will all IRS-approved custodians and insured depositories, so they don't have to list them because you can basically choose whichever ones you'd like for your third-party IRA services.
This is great because you can choose a depository in a location near you, in case you want to visit, and their IRA department promises to help you find the custodian for you based on your budget and other needs.
They Have a Fee-Free Buy Back Program
We also like that they enable you to keep more of your money during your precious metals sellbacks with them via their fee-free buyback program, which is exciting knowing the quote you are given is what you will receive, and it will not be eaten up with fees during the final sale.
However, again, the key to getting a great deal both during your purchases and buybacks is to be sure to call the company's tradeline and lock in your desired price before carrying out your transaction. This way, you can receive the current spot price or the live price you see on their site.
Overall, provided you be sure to call the company and lock in your sell and buy prices before your transactions, we recommend them as one the best precious metals companies to work with for their prices and superior customer service in accordance with their hundreds of customer reviews.
Would you rather invest in silver?
Our rating: 4.5/5