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?
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 products meet IRS requirements, they haven't made any effort to set them apart on the website.
Because of this, it will be much easier to find IRA precious metals if you go to a company that specializes in this type of account.
Though the company sells quite a few different precious metals products, the bulk of their inventory is made up of silver. That's because the refinery almost entirely processes silver. You can find products with different unique designs stamped on them.
Rather than having coins or other currency that comes from official government mints, the company sells silver bars, rounds, specialty products, and novelty products.
Each of the silver rounds is stamped with a different design. For example, there are 12 different rounds that each correspond to a different zodiac sign. If you're looking for a gift for the Pisces or Gemini in your life, these make quaint and thoughtful little gifts.
There are also silver rounds emblazoned with holiday scenes and festive occasions. Or you can purchase fractional and oversize rounds.
When it comes to silver bars, the company continues to be unique. They have skull bars, specialty bars, and silver "building blocks."
The silver building blocks are toys that are minted from pure silver. They look very similar to Legos and can fit together to make different designs. If you know anyone who is particularly interested in model building and precious metals, this is a charming way of putting those two things together.
The skull bars are also extremely unique. They are 3D bars that are made in the shape of a skull, rather than the typical rectangle shape of traditional silver. It's a cool-looking and artsy piece that makes a fascinating decoration for people who enjoy the macabre.
Some of the skull bars are also given an artsy antique finish, painted like Day of the Dead skulls. People who celebrate Day of the Dead may appreciate how beautiful and long-lasting these creations are.
It's also possible to purchase skull bars with a walnut box to hold them. That makes it super easy to protect and display them.
The company also offers a variety of unique copper products. Not every precious metals dealer carries copper items, but Monarch does. So if you're specifically looking for copper, this might be a good choice.
The refinery creates 1-ounce copper rounds that are emblazoned with different zodiac signs. Some people choose to invest in these when they can't quite afford the silver zodiac rounds.
In addition, there are copper dice and dominoes available for purchase. These hands-on games will last much longer than their plastic counterparts, and they're beautiful regardless.
If you want to get the dice or dominoes, you might also consider getting some of the available accessories. The company sells leather gaming mats that you can use to play with your dice or dominoes.
There are also a variety of coin supplies available. If you want a way to organize your coins, display them, package them in a gift box, or put them in a huge bag, the gift supplies section of the site has you covered.
Is Monarch Precious Metals a Scam?
Monarch Precious Metals is not a scam. This is a legitimate precious metals dealer and refinery located in Southern Oregon. But most of the items that they manufacture are more like novelty toys than investment level products. There are several reasons that this might not be the best company to use if you want to invest in precious metals.
First off, they don't have any accreditation with the Better Business Bureau, even though they've been in business for 12 years. Though there are no official complaints displayed on the BBB website, there are a few scathing customer reviews. It seems like people have had bad experiences with the quality of the company's items and their customer service team.
Ultimately, this is a gold dealership that some people might find interesting to visit in person. They also have a variety of good gift ideas, along with supplies that can help you package gifts for the coin collectors in your life. But they aren't necessarily the best serious dealer to work with.
Pros & Cons of Monarch Precious Metals
Monarch Precious Metals is a refinery and precious metals dealer based out of Medford, Oregon. Though they have been in business for more than 12 years, they don't seem to have garnered the best overall reputation. There are some poor reviews of their products and their customer service online.
This is a good company to work with if you're looking for some neat novelty toys for a child. Coin collectors might also be interested in the company's unique products, though serious numismatists are unlikely to be impressed.
If you're looking to set up a gold IRA or purchase precious metals for an IRA, this isn't the best company. Most of their products are not IRS approved to hold in an IRA. In addition, their products don't tend to have the same value that you get from official US Mint coins.
There are other precious metals dealers that have more valuable selections of bullion. These companies also tend to have better reviews, with many customers expressing how pleased they are by their overall experience. That's a far cry from the nasty reviews on Monarch Precious Metals's BBB page.