Legacy Precious Metals Review
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Legacy Precious Metals is a company based out of Plano, Texas that offers financial solutions for those who want to invest in gold and other precious metals. All potential investors get access to a free guide that talks about the benefits of investing and how they can get started.
As this is still a relatively new concept, many people aren't sure how to begin or what company they should choose. This Legacy Precious Metals review will help them decide if this company is the best option for them.
Before we get started:
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About Legacy Precious Metals
Legacy Precious Metals is an investment firm designed to help others choose the best solutions for their portfolios. Though the site does not state when the business opened or how much experience it has, potential investors can see some of the benefits of working with the company.
Legacy Precious Metals believes that all clients need education. The professionals working for the company will help clients determine what they need and what solutions are best for them. Clients also get quick shipping and convenient home delivery.
About the CEO
According to his LinkedIn profile, Charles Thorngren has more than 20 years of investment experience. As a former stocks and bonds seller, he learned how to help his clients identify their specific needs.
He took that experience with him when he opened an investment firm and began focusing on precious metals. Thorngren now serves as the CEO of Legacy Precious Metals and frequently gives interviews where he guides and advises others.
Pricing and Fees
Though Legacy Precious Metals sells at current market prices, the website does not feature a price list. Clients must set up an investment account with the company to find those prices .
Available Products and Services
Legacy Precious Metals offers a wide range of services for clients that include:
All of the gold coins available from Legacy Precious Metals are suitable for IRAs. Many clients invest in American Gold Eagle coins. While some coins may contain gold from other nations, these coins can only use American gold.
Canadian Gold Maple Leaf coins are more than 99% pure 24k gold. There are other gold coins that Legacy Precious Metals helps clients buy such as:
Silver coins allow clients to diversify their collections and stay ahead of market trends. Australian Silver Kangaroo coins are just some of the ones available through Legacy Precious Metals.
These coins are more than 99% pure silver and have an elegant kangaroo on their face. Clients can choose other silver coins to add to their portfolios, too:
Gold and Silver Bars
Legacy Precious Metals also offers gold and silver bars for investors. These bars come in different sizes that start at one ounce and go up to five ounces. In some cases, clients can buy 1/4-1/2 ounce bars or purchase larger bars.
Legacy Precious Metals believes in making gold investing easy for those just starting. One of the services it offers is the creation of a gold IRA. Investment portfolios help investors make money they can use to pay for homes and their retirements.
They often worry about how changes to the stock market will affect them. There are many benefits to investing in gold and setting up a gold IRA, including:
What Legacy Precious Metals Does
Legacy Precious Metals has a team of experts with knowledge and experience in precious metals. The team can help any client open a new IRA or add gold and other metals to an existing IRA.
Those who invest with Legacy Precious Metals get help picking the types of metal to add to their portfolios and making sure their money counts.
The company will buy gold for its clients and store it in a secure vault approved by their IRA. Clients can also request that Legacy Precious Metals deliver their gold to their home addresses.
A silver IRA is an alternative to a gold account. Though some clients only invest in silver, others add silver to an IRA that also has gold and other precious metals. As the value of silver rises, the value of the client's portfolio will also rise.
Legacy Precious Metals recommends silver investing to clients who noticed the value increase in the past and those who worry that gold might lose its value.
The Role of Legacy Precious Metals in a Silver IRA
The role that Legacy Precious Metals has when someone opens a silver IRA is twofold. Not only do they help the client choose what type of silver to buy, but they also keep that silver secure.
Clients have access to low prices based on the current market. They can also withdraw any of their silver when they want and buy silver that the company ships to them.
In addition to buying and saving precious metals for clients, Legacy Precious Metals also uses direct sales. Those who want to buy gold or silver coins can contact the company and purchase the coins directly from the company. They will view real-time pricing to see exactly how much the coins cost.
Opening a New Account
Both clients who want Legacy Precious Metals to store gold and silver for them and those who want to buy from the site need to open an account first. The site asks for a social security number or a tax ID from the client.
Those who live outside of the United States must provide a driver's license or another type of ID. Legacy Precious Metals also requires the client's date of birth, home address, and full name. Those who want to open an account with another person need to provide that individual's information. The site can also open a new account for a trust or a company, but it will require more documents.
Paying for Precious Metals
Anyone who buys from Legacy Precious Metals must open an account and pick a funding method. Most clients use a bank account, which requires both an account number and a routing number.
Legacy Precious Metals will pull money out of the account to pay for the precious metals a client buys. It can take up to 10 days for the funds to leave the account. Wire transfers are also available for clients in the United States and abroad. Clients have the option of paying by check, too.
One of the popular features offered by Legacy Precious Metals is its real-time portfolio tracking. Once a client successfully sets up a new account, they can use their account details to log in and view their portfolio. The site shows them the total value of their portfolio. They can use different buttons to how much certain metals are worth such as gold and silver.
All clients get instant access to an online dashboard that shows them the balance they have left in their account. The dashboard clearly shows them their holdings and what they have that they can sell.
Those who opt to sell see how much they can sell and what they will get as well as when the funds reach the account. The holdings section also gives clients an easy way to add to their portfolios without talking to an agent first. Clients see any recent purchases they made also and when those orders will arrive.
Storing vs. Delivery
Clients often choose Legacy Precious Metals because the company allows them to store precious metals both off-site and at home. Legacy Precious Metals looks for storage facilities authorized by different IRA accounts.
When a client buys gold or any other metal, they can request that the company move the metal to one of those facilities. It will appear in their dashboard where they can track their holdings or sell some of their metals.
Home delivery is another popular option. Some clients prefer the security of having gold and silver coins in their home collections. They have immediate access to it in case of an emergency.
Though the holdings still appear in their dashboard, they need to manually update the site when they sell any of those metals. Legacy Precious Metals requires that clients contact the site directly when they want home delivery.
Benefits of Choosing Legacy Precious Metals
Legacy Precious Metals acts as both a broker and seller for clients. Clients can work with the company to select the precious metals they want to buy and then choose between having the company store them for them or ship them to them.
Some of the other benefits of choosing Legacy Precious Metals include:
Is Legacy Precious Metals a Scam?
Legacy Precious Metals is not a scam, though it does have some mixed reviews. On Trust Link. the company has a few negative reviews. One client claimed a mix-up led to his order not shipping for more than two weeks after the site received his payment.
Another review also pointed out how slowly the company shipped. Clients also complained about the lack of information on the site and how much time it took to get a response.
Many other clients had positive experiences. Some liked the free guidebook they received that taught them more about precious metal investing before they signed up. Others liked the dashboard that gave them an easy way to keep track of their accounts.
Pros & Cons of Legacy Precious Metals
The Legacy Precious Metals is slightly confusing as it doesn't include all of the information and details that potential clients want. There is no way to buy anything without an account, which can take some time to set up.
For many clients though, Legacy Precious Metals is a great option for buying and investing in precious metals.
Remember to read our list of the Best Gold Investment Companies to work with, before investing your hard-earned savings!
Or, if you like what you read about Legacy Precious Metals, continue to their website below.