Amagi Metals is a US-based precious metals dealer that ships metals worldwide. A relative newcomer to the industry, they have nevertheless expanded to three different office locations. The company seems to be growing quickly, but what do customers have to say about it? Are their practices legitimate?
About Amagi Metals
Amagi Metals was created about five years ago to function as an eCommerce dealership for precious metals. Unlike many other online precious metals dealers, you can use the marketplace platform to fill a shopping cart and check out online with ease. You don't have to worry about calling any phone numbers or haggling over price quotes.
The three company offices are located in Nevada, Oklahoma, and Texas. There's no information about whether they intend to expand into further regions of the US as they continue to grow.
According to the website, the company mission is to make it simpler to buy precious metals online. In addition, they say that they want to help customers understand financial responsibility and be able to create portfolios that are more secure against different economic forces.
One of the key company values is privacy. Not only do eCommerce platforms have to keep your financial data safe, but they also have to keep your personal data safe from third parties. Amagi Metals promises that all information you give them will be kept confidential. Nothing will ever be sold to third parties or disclosed unless they are required to do so by law.
Another key value is security. This is related both to online security and protection of your information, plus security of the physical precious metals that you're buying.
Amagi Metals conducts frequent audits of its website security to make sure that there aren't any potential breaches. They consistently update the site and add new security measures to their eCommerce platform.
The metals themselves are protected from the moment you purchase them. All of the company's secure facilities help to keep the metals from being stolen or damaged. Every order is packed carefully and securely. There is ample tracking done to make sure that all of the items remain in the package for the entire journey.
As with most precious metals dealers, you can expect that your packages will ship fully insured. That way, if they get lost in the mail, you'll be compensated for the cost. You'll also have to sign for the package upon delivery. That keeps it from being left on your doorstep or in a mailbox where it might be stolen.
The next company value is customer service. According to the website, there's no way to mass market anymore because every individual is different. So the company tailors their solutions and advice to the individual needs of their customers, rather than having a one-size-fits-all approach.
In keeping with that, the customer service representatives will answer questions you have about precious metals. They might ask you questions about your budget, risk tolerance, and the kind of growth you want to see over time. That will allow them to make suggestions based on the prior market performance of different metals. Of course, they won't be able to guarantee that your choices will see the gains you want!
Another company value is quality. According to the website, the company makes sure that their service and product quality is part of everything they do. Their products are consistently tested to make sure that they fit the weight and purity standards they're supposed to. This helps prevent counterfeit items from entering the market.
Finally, the last value is simplicity. One of the company's biggest selling points is that they make it quick and simple to buy precious metals online. With a lot of the competition, there are tons of steps involved in the process. With Amagi Metals, the website can be easily navigated, the terminology can be understood even if you're a beginner, and you can get ready to check out without ever picking up a phone.
Is Amagi Metals a Scam?
Amagi Metals is not a scam. The company does appear to be legitimate. Though there aren't very many consumer ratings online, we have been able to find one or two positive customer reviews. We also haven't found any patterns of complaints or negligence.
But there are some concerning things. For one, it's difficult to judge a company based on just one or two customer reviews. That's not enough data to have a sense of how they treat their general clientele. There are some other companies that have overwhelming amounts of positive feedback, so you know you're going to have a good customer experience going in.
Another issue is the company's lack of Better Business Bureau accreditation. It's often a good idea to look for precious metals dealers that are accredited with the BBB, as this helps to reassure you that the company's practices are legitimate.
The BBB has also given the company a score of NR, for Not Rated. They give this score to companies when they either don't have enough information for a rating, or they're in the middle of an investigation of the company. Sources show that Amagi Metals used to have an A+ rating, and there's no information about why the BBB changed that to NR.
Now, none of this necessarily means that Amagi Metals is a bad company. These things don't even mean that the company is badly managed. It's possible that they just don't have much of an online presence, and they haven't had a chance to get their BBB accreditation.
But it's so simple to work with companies that have an excellent third party reputation. Why take a chance on a company without much information when you could work with someone else?
Pros & Cons of Amagi Metals
Amagi Metals is one of many online precious metals dealers. They have more than four years of industry experience shipping precious metals all over the world. Though they're a relative newcomer in the industry, they've grown to have multiple offices throughout the US.
But they aren't necessarily the best company to work with when you're looking for an online precious metals dealer. When a company has three different locations, you'd expect them to have a ton of online reviews from their clientele. But it's been difficult to find any third party testimonials about Amagi. We did find a few positive ones, which is good, but not quite good enough.
In addition, their status with the Better Business Bureau is somewhat puzzling. The BBB has not accredited them and also gives them an NR rating for Not Rated. This could indicate a lack of information or could indicate an investigation is underway. Either way, most people want to work with companies that maintain an A+ rating.
There aren't any huge red flags that seem to point to mismanagement with this company. The concern is less about what we are seeing and more about what we aren't -- there's no loyal online community following, no third party affiliations, and a certain lack of transparency.
In addition, the company doesn't offer any IRA services. So if you want to set up a precious metals IRA or add more gold to your existing self-directed IRA, you'll definitely want to work with another dealer.
We recommend working with an online precious metals dealer that has a more solid reputation. You can find some companies with hundreds of positive reviews from past customers, and you can also see how they respond to the occasional complaint. That helps to give you a good sense of what you can expect as a customer there, as opposed to going in blind like you would with Amagi Metals.