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Republic Monetary Exchange has earned recognition for its excellent customer care, fair pricing, and broad inventory of precious metals such as gold, silver, platinum, and palladium. Whether you’re new to investing or have years of experience, the company offers solutions tailored to a wide range of financial goals.
In this detailed review, we’ll examine their product selection, pricing structure, service quality, and other essential features to understand why Republic Monetary Exchange is considered a strong competitor in the industry.
For individuals planning for retirement or just beginning their wealth-building journey, diversification is key. Spreading assets across different categories can help safeguard your finances and encourage growth, especially in volatile markets.
Traditional employer-sponsored retirement plans are a solid foundation, but self-directed IRAs offer greater flexibility. With this type of account, investors can hold alternative assets such as IRS-approved physical metals, including gold, silver, platinum, and palladium, in the form of bars, coins, or bullion.
Some investors also diversify further through gold ETFs or shares of mining companies. Still, setting up a Gold or Silver IRA requires compliance with IRS regulations for acquisition, account setup, and secure storage, steps that can be complex without guidance.
That’s why working with a reliable and knowledgeable precious metals broker is so important. The right partner can help you choose IRS-approved metals, connect you with custodial services, and provide secure storage options.
Before deciding on a firm, it’s wise to research thoroughly, check reviews, compare fees, evaluate custodians, and confirm the storage arrangements to ensure your investment is well protected.
Before we get started:
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Gold and other precious metals have been used to protect against inflation for thousands of years. And when you hold physical in a tax-protected savings account, it gets even better.
Opening a gold IRA can sound complicated, but it's really not.
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About Republic Monetary Exchange
Located in Phoenix, AZ, Republic Monetary Exchange is a full-service precious metals brokerage firm. They help new and experienced investors enter the precious metals market. Republic Monetary Exchange offers everything from over-the-counter purchases of rare coins to rolling over an old investment into a precious metals IRA.
Republic Monetary Exchange offers every client a dedicated account executive. They strive to offer 100% customer satisfaction. Customers can count on their dedicated account executive to answer any questions about short-term or long-term investment goals.
The company sells high-quality precious metals that are 100% authentic. In-house purchasers offer competitive prices for gold, silver, platinum, and palladium.
Republic Monetary Exchange offers customers added security. They contracted with the Phoenix Police Department to provide security services and ensure that customers feel safe during all transactions.
Info and History
CEO Jim Clark founded Republic Monetary Exchange in 2008. Clark has over 43 years of experience in the precious metal and coin industry. Republic Monetary Exchange employs around 14 people.
The company offers gold, silver, and investment-grade coins for sale. Account executives also can assist with setting up a self-directed IRA for investing in precious metals.
Management Team
Jim Clark: Clark is the CEO of Republic Monetary Exchange. He attended Arizona State University from 1972 to 1975 and studied Business Administration and Management.
Roan Ciardi: Ciardi is a Senior Account Executive at Republic Monetary Exchange.
Daniel DeVito: DeVito is a Senior Account Executive at Republic Monetary Exchange. DeVito joined Republic Monetary Exchange in 2017 after working as a Senior Wealth Consultant at Scottsdale Gold and Silver, LLC.
Services Provided
Republic Monetary Exchange buys and sells high-quality, authentic gold, silver, platinum, and palladium products. Buyers can purchase coins, bars, and bullion. Collectors will find a selection of premium investment-grade coins.
If you're interested in setting up a self-directed IRA to store precious metals, Republic Monetary Exchange can help you through the process. Their advisors can examine your current investment portfolio to determine if you can transfer or roll over your funds into a Gold or Silver IRA.
Republic Monetary Exchange also offers investment education to its customers. The RMR website features numerous articles, blog posts, and other resources so new investors can educate themselves about the precious metal investment.
Articles cover topics like the value of the dollar and the life cycle of a gold mine. A Precious Metals Glossary helps new investors become familiar with investment terminology.
How to Contact Them
Customers can visit Republic Monetary Exchange at their Phoenix office. They offer a local phone number and a toll-free number for out-of-area clients. The website features an automated chat service. Republic Monetary Exchange is active on Facebook and Twitter.
Consultation Services
If you have an IRA, 401(k), or other retirement account, you can meet with a representative from Republic Monetary Exchange for a free consultation. They'll determine if your current investments are eligible for a transfer or rollover into a new precious metals retirement account.
Republic Monetary Exchange offers ongoing consultations. You can meet with your dedicated account executive to discuss buying and selling precious metals. Your account executive will help you decide how you can meet your long-term investment goals.
How to Apply and Set Up an Account
Republic Monetary Exchange works with several IRS-approved custodians. The team at RME can help you complete the paperwork required to set up an account. Republic Monetary Exchange's account executives also can instruct you on the best method for funding your new account.
Depending on your current investment accounts, you may be eligible to roll over or transfer your funds. You also may want to consider a cash contribution.
Custodian and Storage Options
Republic Monetary Exchange works with two qualified custodian companies: SunWest Trust and GoldStar Trust. Located in Albuquerque, New Mexico, SunWest Trust has over 25 years of experience in IRA custodianship.
They offer investment accounts including Roth IRAs and Simple IRAs. Investors can use their SunWest IRA to invest in precious metals and other alternative investments.
Republic Monetary Exchange also recommends GoldStar Trust in Canyon, Texas. They offer transparent pricing for their precious metal IRAs. Keep in mind that some custodians charge an annual fee for their services.
You also need to pick out a place to store your investment. The IRS prohibits investors from storing their precious metal investments in their residences. Precious metal investment rules state that you must store your precious metals in an approved depository administered by the IRA custodian.
This depository must have insurance against theft, fire, flood, and other disasters. You may choose a depository that is dedicated to precious metal investments, or you can store your investment in a safety deposit box at your local bank.
The Buyback Program
Republic Monetary Exchange states that they offer same-day buyback services. Sellers may bring their precious metals to the office or ship their precious metals to RME. Republic Monetary Exchange promises competitive pricing. Security provided by the Phoenix Police Department will ensure your safety during the transaction.
The Precious Metals on Offer
They offer popular gold coins like the American Eagle, American Buffalo, and $20 Gold Liberty. Investors interested in silver can purchase the Silver American Eagle, Morgan Silver Dollar, and Silver Peace Dollar. Buyers can purchase other investment-grade and rare coins. RME also offers bars and bullion.
IRA-Approved Precious Metals
Republic Monetary Exchange sells IRA-approved precious metals like the American Buffalo, American Eagle, and Australian Kangaroo. If you want to purchase a specific coin, ask your account executive to check RME's current inventory.
Ratings and Complaints
Republic Monetary Exchange is accredited by the Better Business Bureau. They have an A+ rating, the highest rating possible. The company has a five-star rating from 18 customer reviews.
Reviewers stated that RME's representatives were a "virtual encyclopedia" of precious metal investment knowledge. They praised the company's customer service.
Republic Monetary Exchange has seven reviews and an average 1.5-star rating on Yelp. A five-star review from 2016 praises RME's excellent customer service and fair market prices. This customer also stated that RME's employees take extra time to educate investors on their options.
Negative reviews on Yelp state that RME's employees provided poor customer service, particularly when customers wanted to sell back their precious metals. One customer reported that Republic Monetary Exchange blamed a previous employee's unethical behavior for the customer's poor investment performance.
Republic Monetary Exchange does not have a rating or reviews on TrustPilot. TrustPilot is a popular customer review site.
On Google, Republic Monetary Exchange has an average 4.8-star rating from 149 reviews. Reviewers stated that RME offered fair prices and friendly customer service. Negative reviews stated that RME's staff is slow to return phone calls.
One negative review stated that prices for purchasing coins were two times higher than what they were worth.
Conclusion
Republic Monetary Exchange provides services for precious metal investors, including numismatic purchases and self-directed IRAs through two custodians.
The company emphasizes customer satisfaction, with positive reviews highlighting staff who take time to educate clients. However, some customers report slow responses and challenges with buybacks.
While the website offers general investment information, it lacks clear details on fees and pricing. Pricing buttons prompt users to call RME, and there’s no posted fee schedule. Investors must contact the company directly to confirm costs and consultation fees.
Remember to read our list of the Best Gold Investment Companies to work with, before investing your hard-earned savings!
>> CLICK HERE to read our list of the Top Gold Investment Companies. <<
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Charles Turner
Hi, I'm Charles Turner, founder of Turner Investments. I created Turner Investments to provide education and guidance to individuals interested in personal finance.
My goal is to make Turner Investments a valuable resource for anyone looking to learn more about personal finance and make smarter investment decisions.
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