Swiss America Trading Corporation is one of the largest precious metals companies in the US. They have tons of great reviews on third party websites, a great BBB rating, and great overall policies. But are they actually the best company to work with?
Let's take a look at what exactly Swiss America offers. Are they actually as good as everyone claims?
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About Swiss America
On the surface, Swiss America seems to be a precious metals retailer. But the company's philosophy goes far beyond selling basic coins and bars. Rather than being known for the products in their inventory, their reputation is based around the services they provide.
Basically, Swiss America is a company that shows people how to create their own precious metals investment portfolio from scratch. They teach you about different types of metals and different items, ask you about your overall needs, and help you build a portfolio around your growth potential and risk tolerance.
Not all precious metals perform the same way on the market. You can create a diversified portfolio through a combination of bullion, numismatics, and basic rounds.
Swiss America has been part of the precious metals industry since 1982 and has worked with thousands of clients. They use the Swiss Diversification Strategy, which involves setting aside a portion of your holdings into precious metals. Since precious metals are tangible assets and perform inversely to the stock market, they provide some protection against economic volatility.
How the Process Works
There are two basic purposes to the company's website. One is to provide educational resources. If you're looking to learn, you can dive deep into the educational rabbit hole and find out everything you need to know. All of the materials are available for free, so you never even need to make a purchase.
Many precious metals retailers have educational guides and articles on their websites. But Swiss America's learning center is truly one of the most robust that we've seen. They cover just about everything you could possibly need to know about investments, the stock market, precious metals, investment history, rules and regulations, retirement planning, different precious metals products, and more.
After you've educated yourself -- or if you're already familiar with the industry -- you might decide that you want to make a purchase.
Benefits of an Account
Swiss America isn't just a simple precious metals retailer. They're a partner that acts as an investment advisor. Instead of simply fulfilling your order like you bought a candy bar at a convenience store, they sit down and get to know you.
You can make a free account on the website with no obligation to purchase anything. Once you do that, you'll have access to a platform with information like:
Basically, you get everything you need to manage, balance, and grow your portfolio... totally for free.
Getting Started with the Process
Once you decide that you want to invest with Swiss America, it's time to get started. Again, this won't be as quick as putting some things in a shopping cart and checking out. It's a process built for serious investors who want advice about how to do the best thing for their financial future.
There's a step by step process to putting together your portfolio. Once you've made your purchases, you'll be able to view your holdings and track your transactions in your account.
You will be assigned a dedicated Account Executive. This is an expert whose only job is to answer your questions, learn about you, and help you choose the right coins.
You'll have a basic consultation with the executive. During this time period, you'll talk about things like your budget, your goals, and your risk tolerance. When they have a good understanding of what you need, they'll help you select every individual coin that will make up your basic portfolio.
The next step is for your executive to call up the company trading department. They will put a reservation on those coins. You'll then get a confirmation number from the trading department for every single coin. This is to ensure that the items are all in stock and are being sold at the initially quoted price. If any adjustments need to be made, you'll be told right away.
Paying for the Items
There are two basic options to pay for the items making up your portfolio.
The first is to send a bank wire transfer. Swiss America has published their banking information on their website to make it easier.
The second option is to mail a physical copy of a personal check or cashier's check to the company's Phoenix location. Checks can take several days to arrive, and up to two weeks to process after that.
Because of this, the fastest and most efficient way to pay is to use a bank transfer. Unfortunately, there aren't any options to use debit cards, credit cards, cryptocurrency, Paypal, or other alternative methods of payment.
Receiving the Coins
As soon as the payment clears, the coins will be shipped to your address through USPS. Every package is registered and insured. You should get a tracking number while the coins are in transit.
When the coins are in your possession, you can log into your account whenever you want to view your portfolio. You'll have access to quick stats about the performance, your past transactions, and even free advice on how to balance it better. You also get a free portfolio review from your account executive periodically.
One of the big concerns with precious metals is liquidation. But Swiss America takes care of that. You can liquidate your coins with the company whenever you want, as long as you send them to the company via an insured package.
There are a few caveats to this. Mainly, you must return them in their original holders and at the same grade they were at the purchase time. Swiss America might not buy coins back if they are used or damaged.
Is Swiss America a Scam?
Swiss America is not a scam. In addition to being a legitimate business, the company is extremely popular and has glowing customer reviews. On the Better Business Bureau website, there is an average rating of almost 5 out of 5 stars based on 111 reviews. That indicates that almost everyone has had an exceptionally good experience!
There are a few negative reviews to be found on the Yelp page. But this page only has 6 reviews in total, which is a much smaller sample than the BBB page.
One complaint came from a customer who said that they were spoken to rudely. The other came from a customer who said that only white people seemed to work at the company.
The business owner did reply to the second reviewer to say that the company was an equal opportunity employer with several people of color working for them. She expressed that she was hurt that he would write an inaccurate review based on his impression from walking into the store once.
The business owner also responded to the other negative reviews on the page, either apologizing for the customer's experience or refuting their claims. She seems to have a strong sense of how to run her business. Given her dedication to responding to complaints, along with the positive overall reviews online, it seems like these complains are just a few negative people.
Any business will get some complaints and grumbling once it gets large enough. And judging by the 100+ BBB reviews, Swiss America is indeed large enough!
Pros & Cons of Swiss America
Swiss America Trading Corporation is one of the rare precious metals companies that seems to be everything it claims. The company has received almost universally positive acclaim online, and the owner has carefully responded to all negative feedback. It seems like they really care about their customers and are attentive to their image.
In addition, they're a great company for those who are new to precious metals investing. Their entire purpose is to assist people in building their own portfolios to suit their unique needs. You'll find a wealth of educational information about the different benefits of precious metals.
There is one potential drawback if you're looking to open an IRA, though. Swiss America does have information about IRAs, and they do seem to have IRA services. But there's not a lot of information online about it. You're encouraged instead to call a customer service rep and ask about opening an account.
That means there's no information about their setup process, fees, or even the custodians that they typically work with. Companies that specialize in precious metals IRAs tend to have this information much more easily accessible, so it's simpler for you to decide whether their setup is right for you.
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