The 2008 global financial crisis affected nearly every household in the US. As people were struggling to pay their mortgages and hold onto their retirement funds, the price of precious metals suddenly spiked. Suddenly precious metals were considered vital to protect against those kinds of economic downturns.
In the midst of all the chaos, Monarch Precious Metals was created. The company's creators saw that there was a high demand for precious metals, so they opened a refinery.
But what exactly does Monarch Precious Metals sell? Are they a good company to work with, and what do you need to know before getting started?
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About Monarch Precious Metals
Monarch is a precious metals dealer with a somewhat unique approach. Instead of reselling products that are made elsewhere, the company owns its own refinery. They create their own products and then sell them to individual investors.
There are a few potential advantages to this. Since the items go directly from the refinery into the hands of the investor, the pricing can be kept lower. There's not a middle man marking up the costs.
In addition, the physical setup of the refinery attracts tourists to the company headquarters in Medford, Oregon. They show people how the precious metals are made and use this interaction to their advantage to sell more of their products.
Monarch Precious Metals doesn't sell traditional investment level gold and silver. You won't find products like American Eagles and Gold Buffalos. Their silver products are unique to their refinery, stamped with their own logo and designs. These designs are unlikely to gain any particular value beyond their melt value, but they do make good novelty gifts.
They also don't seem to sell many products that are eligible to hold in a precious metals IRA. The contents of your IRA are subject to strict IRS regulations. In the case of gold and silver, they must meet certain purity standards or be a certain type of design. If any of Monarch's produ