Monex Review
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Monex Review
Your Precious Metals Investment Made Personal
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4★
Monex Precious Metals Overview
Monex got started in the 1960s and has been a family-owned operation ever since. Over the course of 60 years, Monex has grown their team to 25 employees who have all been working with Monex for 25 years.
One of the things that makes Monex unique is that in 1982, they were one of the first private companies to collaborate on a minting venture with the Royal Canadian Mint. This resulted in the production of the pure Monex Silver Eagle.
They were also one of the first companies to publish their bid and ask prices to the world in real-time. This provided a transparent physical precious metals two-way marketplace for American investors to utilize. Several millions of visitors still rely on the Monex Live Prices page every quarter, and they have closed over $60 billion in customer transactions since their inception.
Monex Review
Monex Review
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Expertise
Monex Review
If you are just getting started, precious metal investing can be a little intimidating. You will most likely have plenty of questions and be a little wary of trusting a company to actually ship your precious metals after you’ve sent them a hefty payment.
For investors who are looking for one of the most trusted precious metal providers to do business with, Monex is one of the best options out there. They have almost 2,000 positive reviews on Trustpilot and have been helping customers since the 1960s.
Pros
- Two-way marketplace – Monex was the first to offer a two-way marketplace. This means that precious metals investors can get a good idea of how much buying/selling of specific precious metals is taking place at any given time. This brings lots of transparency to the market and is frequently visited.
- Connect with a real person – Monex takes pride in always connecting you with a real representative and going above and beyond to provide the best customer service possible. If you want to contact a representative, call 800-444-8317.
- Easy layout – Monex’s service is fairly easy to understand and their web layout is very clean. If you are a beginner who is looking to purchase precious metals (gold, silver, platinum, palladium) then this is a very easy place to get started.
- Reputation – They have been in business for about 60 years and have thousands of positive reviews.
Cons
- Precious Metals IRA – Monex is only a dealer of precious metals, which means that they are not able to open a precious metals IRA for you. However, if you have an account with another custodian then you will be able to fund it with metals purchased from Monex.
- Limited product selection – Monex offers all of the essential products that a beginner investor would need. However, if you are a sophisticated investor that is looking for something very specific then you will probably need to visit another dealer.
Quick Info
Monex Precious Metals
Overall, Monex is a great place to get started if you are a beginner precious metal investor because their website is very clear and gives you plenty of information without being overwhelming.
They have been in business since the 1960s and have a great reputation for being a reliable and fair dealer. If you are a beginner investor who is a little hesitant to get started, Monex is a great option to help give you the confidence to move forward.
Fees & Prices
Monex does not charge any fees outside of standard ones for taxes, shipping, handling. Additionally, their product prices are updated every 60 seconds during market hours. You can view their live prices here.
Storage
Monex does not offer any options for storing precious metals but they have a few partner companies who a representative will be able to recommend for you.
Minimum
Monex does not list a minimum amount.
Products and Services
Monex has products available in all 4 precious major metal products (gold, silver, platinum, palladium). When it comes to their products, they have options for coins, bullion, and bars.
Additional Services
Monex does not offer any other services apart from selling precious metal products.
Monex Review Consensus
Monex’s online reviews are quite impressive and they boast 4.8/5 stars on Trustpilot with 1,785 total reviews. You can through a few of their Trustpilot reviews here.
That being said, Monex is not accredited with the BBB despite having been in business for 47 years.
We hope that you’ve found this review of Monex Precious Metals to be valuable in understanding what some of the pros and cons are to using their service. If you’re interested in reading more, please subscribe to get alerted of new reviews as we write them.