Money Metals Exchange Review 2024: A scam or a legit platform?

Jeremy Biberdorf
By: Jeremy Biberdorf
Mar 13, 2023
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Money Metals Exchange Logo


4.3 rating based on 5 ratings

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In a Nutshell: Money Metals Exchange is an online bullion exchange. It deals with gold, silver, copper, palladium, platinum, and rhodium. Clients can choose to purchase these precious metals in many forms from the online bullion dealer, or they can sell their existing metal assets. Money Metals Exchange offers services beyond just buying and selling, such as storage and loans.

Read our Money Metals Exchange review to learn if it’s where you should be buying your precious metals.

Gold, silver, copper, palladium, rhodium, and platinumBuy, sell, loansFree shipping on all $500+ ordersSecure storage for silver, platinum, and gold
Pros & Cons
  • Has various services
  • Offers many products
  • Free shipping on orders over $500+
  • All shipments are insured
  • Fast shipping and secure packaging
  • Has many helpful resources
  • Many customer service support channels
  • Various payment gateways
  • Phone support is not 24/7
  • You may be hit with transaction fees (depending on your payment of choice)

Compare to Other Platforms

Money Metals Logo
4.3 rating based on 5 ratings

ProductsGold, silver, copper, palladium, rhodium, and platinum

ServicesBuy, sell, loans

ShippingFree shipping on all $500+ orders

JM Bullion Logo
4.3 rating based on 5 ratings

ProductsGold, silver, platinum, copper and palladium

ServicesBuying, selling, and loans

ShippingYes, but only in the U.S. and U.S. military boxes

Acre Gold
4.3 rating based on 5 ratings

Fees$50, $100, $250 a month


Money Metals Exchange – What is It?

Money Metals Exchange is an online bullion dealer that offers clients access to a variety of precious metals such as gold, silver, copper, and platinum. Its metal products come in various forms including bars, rounds, and coins (depending on the type).

This platform sells many popular coins including American Eagles, gold coins, silver coins, and copper coins. It also sells “Starter Packs”, building blocks, bullets, and even jewelry!

However, what makes it an investor’s favorite bullion platform is the premiums. Money Metals Exchange offers some of the lowest in the U.S.

Although you will never find online services that offer precious metal prices below the spot price, the average price of a purchase on Money Metals Exchange is still far cheaper than much of the competition.

Combined with a shipping policy that includes 3rd-party insurance and a quick delivery time, it’s no wonder why so many people choose x as their go-to precious metals dealer!

External Money Metals Exchange Review & Ratings

Better Business Bureau4.2 from 150 reviews
Facebook4.5 235 votes

Here are some reviews from traders who have experienced the platform firsthand:

“I have ordered silver and gold from Money Metals Exchange. The communications by email: order confirmation and order shipping has been excellent. Shipping time has been reasonable. Their premiums over spot price seem a bit higher than most dealers. Once I was a customer I received $10.00 off offers about every three months. They are a good company.”
“Fantastic company, phenomenal custom service. I have been a customer of MMX since 2019, I have been in the monthly accumulation plan, and have made made individual purchases. I find the candor of their specialists refreshing. My favorite company to purchase gold and silver from.”
“They are solid people I bought recently two times and everything was as expected both times.”
“I’ve been buying metals from MMX since 2014, the purchases online were problem free, I always received my orders in a timely manner. Last week was the first time I ever “sold” some of my metals to them and their customer service was awesome, they were very patient answered any questions and concerns I had. Long story short, I received a check within the time frame specified, I’m very pleased and satisfied!”

Products Offered on Money Metal Exchange

Most Money Metals Exchange reviews paint the platform in a positive light.  After conducting our Money Metals Exchange review, we confirmed this, finding that the online platform has one of the largest selections of precious metals at competitive prices.

You can purchase commodities directly on the website using your debit card (or preferred method of payment). The company even provides direct storage options if you don’t want your metals sent directly to your residence.

Money Metals both buys and sells metals, but you should keep a close eye on the value of your investments. Market losses aren’t uncommon. If you purchase a coin and decide to sell it back to the company, you’ll be responsible for any applicable market losses; the company doesn’t consider the original purchase price in its buyback price offer.

We’ll go over the details in more detail later on in this review. For now, let’s just take a look at the various metal commodities they offer!


You can purchase a wide selection of gold coins, rounds, jewelry, bars, and fractionals with items from Great Britain, Canada, Australia, and China.


Money Metals Exchange’s silver comes in rounds, bars, bullets, fractionals, and even statues.


Copper comes in rounds, pennies, and bars.


You can find platinum coins, bars, and jewelry on Money Metals Exchange.


Palladium is only available in coins and bars.


Rhodium is the metal that is the least diverse, coming in bars only.

The Shipping Process

Once you decide on your purchase(s), it’s time to select a payment method. Different payment options offer different time frames and will affect your shipping speed, so we’ve organized them below. If your payment method processes quickly, you’ll receive your order quickly. If not, there may be a slight delay. There are also maximums on payment methods to consider when selecting a payment method.

If paying via:

  • Credit or debit card, you can expect the payment to clear in 1-2 calendar days. Credit card payments are limited to a maximum of $575 per purchase.
  • PayPal, you can make a payment of up to $575 via the online shop. This will take 1-2 days to clear.
  • Personal check, there isn’t a minimum purchase amount (although small purchases could result in additional shipping charges). Your payment—of up to $25,000—will clear in 7-10 calendar days.
  • ACH transfer, you are limited to a maximum of $575 per purchase. However, you’ll need to make a purchase of more than $500 if you want to avoid shipping costs. Your ACH transfer should clear in 7-10 calendar days.
  • Wire Transfer, you’ll need to spend a minimum of $3,000 ($50,000 maximum purchase). Wire transfers clear in 1-2 business days.
  • Money order, you can expect the payment to clear in 7-10 calendar days. You can make a purchase of up to $25,000 with a money order.
  • Cryptocurrency, you can make purchases up to $200,000! As an added bonus, these payments only take 1-2 days to clear.

Money Metals Exchange Features


You can buy all the precious metals offered on the exchange and every transaction is safe, secure, and very fast. All orders are covered by the company’s insurance policy. Once you have your account set up (which takes less than 10 min), you can start to shop! For transaction ease, you are only able to purchase one product at a time, but hopefully, this could change in the future.

On the checkout page, you can pick your payment type. Money Metals Exchange supports nearly every method of payment including e-transfers, credit/debit card payments, wire transfers, checks, and even cryptocurrency!

If you receive your gold bars or bullion coins and decide you’ve changed your mind, you can get a refund if you open a return request within three days of delivery.

Monthly Payment Program

It’s great to add precious metals to your portfolio, but not everyone can afford to make these purchases in full. Many people simply choose to save up for the purchase, but Money Metals offers another option: the Monthly Payment Program!

With the Monthly Payment Program, you can choose and make monthly payments towards the purchase of your choice of gold, silver, platinum, or palladium products offered by Money Metals. Once all the payments have been made, you can either have the precious metal(s) shipped to your home or stored at the depository.

Plans are very lenient, starting at $100 per month. However, the exact amount you invest per month—as well as the amount you’re purchasing—is up to you. Interestingly, the company only offers four set dates per month to make payments so you’ll have to choose between the 1st, the 10th, the 15th, or the 25th.

Payments can be made via an automatic draft from your bank account or paid by check/money order for free. You can also make monthly payments using a credit card, but this will result in a 4% processing charge.

You can enroll in the monthly payment plan by mailing in your application, completing the process over the phone, or via the online enrollment form.


The Money Metals Exchange buyback program accepts your gold, silver, platinum, and palladium. The exchange negotiates prices in person over the phone, so give their customer service number a call.

Once you have both reached an agreed price, you will need to provide your email address. Soon after, you’ll receive a purchase order via email. The confirmation email will also contain shipping instructions you will need to follow to ship your products to them. You will receive your payment after everything has been verified and finalized.


Money Metals Exchange also offers loans, which clients can borrow against the gold and silver they own. The interest rate is low, and your advance rate is about 75% against your collateral value. The process is very quick from beginning to end and the platform will keep your collateral secured in storage and fully insured.


If you opt to store your metals with Money Metals Exchange, you can rest assured that everything will be safe in a state-of-the-art depository building, is fully insured, and you get quick access to cash loans if needed.

Compared to other exchanges and storage facilities, Money Metals Exchange charges a very reasonable flat fee of $96 annually on holdings valued at 0-$15,999. Amounts starting at $16,000 up to $2,999,999 will be charged a percentage of the total, and clients would have to call for pricing for holdings $3,000,000 and above.

Referral Plan

If you’re already a Money Metals Exchange customer and you’re looking for a way to maximize your investing strategy, one way to do so is by using the Money Metals referral program!

As with most referral programs, customers will receive a bonus every time they refer a new customer who mentions their name. However, this referral program also rewards the person being referred (in addition to the referrer)!

Regardless of the order size, you’re guaranteed to receive a one-ounce Silver American Eagle coin for each new customer you refer. It gets better though: you’ll receive an additional Silver American Eagle for every $5,000 they spend on their first order.

For example, if you referred a friend who placed a $10,000 order, you would receive the base coin for the referral and two additional coins (one per $5,000). Your friend would receive a  half-ounce Paul Revere silver round for being referred by you.

Customer Service

There are a few different reasons you may want to reach out to customer service. You could be trying to take advantage of their buyback program, need an update on an order, or want to return an order. Fortunately, Money Metals has a quality customer service team that’s ready to help with any issues that may pop up.

You can contact customer service over the phone or email during business hours. Like many businesses, their business days are Monday through Friday (7:00 AM to 5:30 PM MT). However, they’re also open on Saturdays from 7:30 AM to 3:30 PM MT.

You can contact them via mail, but this method may take many business days before they can respond to your question (especially if there are any delays in shipping).

Money Metals Exchange Review – Is It Legit?

Yes, after a thorough Money Metals Exchange review, we believe it is a safe, secure, and reputable company.

It is a Better Business Bureau accredited business and Investopedia has named it 2020’s Best Precious Metals Dealer in the USA. The company takes client privacy very seriously and adopts advanced SSL technology to encrypt personal data. Money Metals Exchange will not sell or share your information.

Everything is done in accordance with the law with security camera monitoring, insurance, and safety measures in place for your peace of mind.


Money Metals Exchange is more than just a platform to deal with precious metals, but it’s also a safe avenue for loans, secure metal storage, and a helpful resource for pricing, laws around precious metal purchases, and so much more. Try Money Metals and learn what it can do for you and your financial goals here.

Frequently Asked Questions

After being constantly accosted with advertisements offering random coins at terrible prices, Stefan Gleason decided to found Money Metals in 2010. He had noticed that the current pricing for these random coins was often inflated rather than close to the actual metal value. He hoped to offer investors a superior alternative marketplace with Money Metals.

Money Metals is definitely one of the best precious metals companies around today. They sell a wide variety of precious metals products including popular coins (such as gold coins, silver coins, copper coins, and various bullion coins), jewelry, and other types of bullions (like silver bullions). You can see all relevant price alerts right from the home page.

The platform’s gold prices are very competitive (as are its storage fees). In fact, most of their precious metal prices are competitive, although we always recommend comparing costs between multiple platforms. Currently, Money Metals scores a 4.4 out of 5 (based on the BB customer reviews). Few customers run into delivery issues, and most are satisfied with the shipping speed.

It’s possible, but highly unlikely. Money Metals is only required to report the purchase of American eagles, gold bars, and other commodities to the government when the purchase in question meets two specific criteria.

First, the total purchase price needs to exceed $10,000. Second, the transaction must be paid for with cash (bills or coins) or “cash instruments” (cashier’s checks, traveler’s checks, or money orders). Even if the purchase is split up between multiple payment methods, it must be reported if the total purchase price exceeds $10,000. However—despite the large volume of transactions on the platform—less than 1% of the transactions are legally required to be reported.

Out of the nearly one million sales Money Metals has had so far, only 8,300 of these have needed to be reported using Form 8300. The IRS also has reporting requirements for specific commodities that are based on the commodity type, rather than the total purchase price (1099B reporting). You can learn more about these requirements on the Money Metals website.

After purchasing from Money Metals Exchange’s extensive selection of products, you may be considering using the Money Metals Depository.
If so, you can rest assured that your investments will be much safer in storage than at your home (although the company still recommends storing some of your precious metals at home for immediate access).
Firstly, any deposit you make is insured by Lloyd’s of London, a well-known insurance marketplace that offers 100% coverage. The deposit itself will be placed in a depository in Eagle, Idaho.

This depository building has been custom-made to Money Metals’ specifications from a combination of hardened concrete and steel. The facility is equipped with 24-hour monitoring services and stores all deposits in UL Class 3 vaults.

Class 3 vaults are vaults that—according to the Underwriters Laboratories—-would be able to defend against a burglar for 120 minutes. It’s highly unlikely that any potential burglars would have access to the vault for even a fraction of this time.

Upon request, Money Metals will schedule a viewing where you can view your holdings via video. This adds a sense of transparency to its storage solutions. Despite that, the company itself will not report your precious metals purchases to the government in most cases.

Unlike many other depositories that mingle assets, Money Metals separates your deposits from the deposits of other customers, storing it in its own deposit box.

Yes! Money Metals Exchange’s website offers a wide variety of educational resources for potential and current precious metals investors. Currently, the website has 28 different informative articles that any—even non-customers—can read for free.

These informative but easy-to-read articles cover a wide variety of topics including precious metals, bitcoins, ETFs, scams, and cleaning your precious metals.

Money Metals also offers a free eBook (Precious Metals Buying Guide) which contains some useful information for first-time precious metals investors. This can be obtained by subscribing to their newsletter, which will give you weekly updates to market updates.