Scott R. Hillford
Author & Founder Gold Is Money 2
Disclaimer: Some or all of the companies reported here may provide compensation to us, at no cost to our readers. This is how we keep our reporting free for readers. Compensation and detailed analysis are what determines how companies appear on this website.
Investing wisely typically involves diversifying your portfolio. By spreading your investments across various asset classes, you can reduce overall risk and increase your potential for returns.
There are many types of investment assets, such as stocks, bonds, mutual funds, ETFs, real estate, commodities, and precious metals. Each of these asset classes has its own risks and rewards, making it essential to match your choices with your financial goals and risk tolerance.
Diversification is based on the concept that if one investment underperforms, others may perform well, helping to stabilize your portfolio's overall performance.
Prior reading further, it is important to acknowledge that investing your savings is a not easy. When it comes to incorporating precious metals into your investment portfolio, how can you tell which companies are reliable?
After devoting extensive time and effort, we have conducted thorough research within the precious metals industry and compiled a selection of the most trustworthy companies.
Take a moment to read our list and determine if Legacy Precious Metals has what it takes to make the list this year!
This lets you to quickly compare the leading companies in this field and select the one that aligns with your specific requirements and investment objectives.
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When most investors think about diversifying their portfolios, they think about spreading their investments across stocks, bonds, and mutual funds. However, the stock market's performance affects the performance of these traditional assets.
Diversifying beyond traditional assets offers investors stability in troubled economic and political times. Alternative assets like gold, silver, platinum, and palladium can provide a hedge against inflation or stock market declines.
When stocks decline, precious metal assets often rise in value. For example, during the GreatRecession in 2008 and the COVID-19 pandemic in 2020, gold reached its highest prices, while traditional assets crashed.
New investors have several options for entering the precious metals market. Investors can purchase bullion coins, bars, and rounds in precious metals like gold, silver, and platinum. Precious metals trading occurs 24 hours a day around the world.
If you're interested in purchasing physical gold, you will pay a specific price per ounce for the metal and have it delivered. IRS regulations set specific requirements for purchasing and storing precious metals, so new investors should check with a trusted precious metals dealer or financial advisor before investing.
Another way to enter the precious metals market is through the paper market. Buyers can purchase gold futures, gold exchange-traded funds, gold retailer stocks, and gold mining stocks. These options offer the safe haven of physical precious metals without the storage and custodian requirements.
To safely invest in precious metals, you'll need a trustworthy precious metals dealer who can help you open a self-directed IRA. Also known as a Gold IRA, a self-directed IRA gives the investor more control over their investment decisions.
What is Legacy Precious Metals?
When you invest in an employer's IRA, the firm's financial advisor makes the decisions and carries out the transactions. With a self-directed IRA, the investor decides what to invest in and how to manage the investments. An approved custodian carries out the investor's wishes.
Self-directed IRAs are an excellent choice for diversifying your investment portfolio because they open up new options for investing. You can invest in precious metals, real estate, art, collectibles, and cryptocurrency. Opening a self-directed or Gold IRA starts with selecting a reputable company.
When you research precious metal investments, one company you may encounter is Legacy Precious Metals. Based in Plano, Texas, Legacy Precious Metals prioritizes education and customer service. Legacy Precious Metals offers IRA-approved coins for sale. They also can help customers establish a precious metals IRA.
The team at Legacy Precious Metals built their business on an "education first" model. They understand that every customer is different. When you contact Legacy Precious Metals, your account specialist will discuss your goals and collaborate with you to create an investment plan.
Legacy Precious Metals promises to be a one-stop shop for precious metals investments. Legacy Precious Metals states that they do not use high-pressure sales tactics. They want customers to feel confident in their investment decisions.
Legacy Precious Metals works with all major suppliers so they can offer competitive prices on precious metals. If you're dissatisfied with your purchase, they offer a "no questions asked" buyback policy.
Company Info & History
Founded in November 2020, Legacy Precious Metals is a newer entry into the precious metal investment industry. Charles Thorngren founded Legacy Precious Metals after two decades of experience in financial investments and precious metals.
Thorngren founded the company with a focus on educating customers so they can determine if precious metal investments are right for them.
Since the company's founding, Charles Thorngren made appearances in the media to discuss precious metal investments. Thorngren appeared on Newt Gingrich's podcast. Legacy Precious Metals advertises endorsements and partnerships with Trish Regan and Colin Cowherd. The company also appeared on Fox News and NewsMax.
Management Team
Chief Executive Officer: Charles Thorngren has over 20 years of experience in financial investments and precious metals. He started his career in the U.S. Air Force. In 1995, he began selling stocks and bonds with a focus on customer satisfaction.
Over the years, he worked as an investment banker and created an investment firm. To bring broader diversity to his client’s portfolios, he delved into alternative assets from real estate to precious metals.
He worked for a Fortune 50 financial firm. In June 2016, he founded Noble Gold in Pasadena, California. In November 2020, he started Legacy Precious Metals in Plano, Texas.
Reviews and Complaints
Legacy Precious Metals does not have a listing on the Better Business Bureau website. They also are not registered with the Business Consumer Alliance. TrustPilot does not have a page for Legacy Precious Metals.
On Facebook, Legacy Precious Metals has an average of 4.2 out of 5 stars. It is difficult to tell if this rating is legitimate because many of the 55 reviews appear to be spam.
Although several customers left "do not recommend" on the company's Facebook page, there are no details with these negative reviews. There are not enough customer reviews online to accurately judge this company's performance.
Custodian and Storage
Legacy Precious Metals offers Gold and Silver IRA services. The company does not provide a list of its recommended custodian and storage partners. To find out more information about setting up a self-directed IRA with Legacy Precious Metals, customers will need to request a free information kit.
Before signing any papers with Legacy Precious Metals, customers should ask for more information about their custodian and storage partners. Customers should search for reviews of these companies before opening an account.
Sign-Up Process
To set up an account with Legacy Precious Metals, customers must request the Free Gold Guide. This guide walks customers through everything they need to know about precious metals investing.
Contact Legacy Precious Metals
Customers can contact Legacy Precious Metals by calling their toll-free phone number. They also have a general email address and web form to request more information.
Consultation
Legacy Precious Metals does not mention how to schedule a consultation on its website. However, the company's focus on education first indicates that Legacy Precious Metals probably offers consultations.
Account Setup
To set up a Gold or Silver IRA, customers must request a Free Gold Guide. Then, contact Legacy Precious Metals by phone or email to find out how to set up an account.
Funding
Customers can fund their new IRA with a cash contribution. Investors also may transfer or roll over funds from their old retirement account to their precious metals IRA.
Purchase
Legacy Precious Metals offers IRA-approved gold and silver coins for sale. For coins to be considered IRA-eligible, coins must be 99.5 percent pure. The only exception to this rule is the Gold American Eagle coin. Coins must be in mint condition in their original packaging. They must include a certificate of authenticity.
Delivery and Storage
Legacy Precious Metals offers all clients the option of home delivery. They offer fast, secure, and economical shipping. Investors should be aware that precious metals for a Gold IRA must be stored in an FDIC-insured bank safe deposit box or an approved depository.
Legacy Precious Metals Products
Legacy offers gold and silver IRA-approved coins including the following:
IRA-Approved Gold:
IRA-Approved Silver:
Buyback Policy
Legacy Precious Metals states that they offer a "no questions asked" buyback policy. However, they don't provide any details about this policy. They don't state if customers can return their items for a full refund or if Legacy Precious Metals buys the items back at the current spot price.
Fees
Legacy Precious Metals states they offer competitive prices and economical shipping. The company does not list its fees or shipping costs on its website. Customers should contact Legacy Precious Metals with any questions about the company's fees and shipping costs.
Website
The website is easy to navigate with separate sections for Gold IRAs, Silver IRAs, Coins, and News. The site also features a brief section about the company. This "About" section outlines Legacy Precious Metals' approach to sales. They focus on providing an individualized approach that focuses on educating customers.
Users may notice that the website features a lot of celebrity endorsements and clips from podcasts and news shows. Relevant information - like fee schedules and custodian partners - is noticeably missing. The coin section features clear images of coins available for purchase. However, the descriptions do not include pricing. Competitors often list prices for individual coins and feature live pricing on their homepage.
Pros & Cons
PROS
CONS
Verdict
Conclusion
Legacy Precious Metals is a newer entry into the precious metals investment industry. The company's focus on "education first" and providing excellent customer service may be comforting to new investors.
Customers can request a free information guide to learn more about investing. Legacy Precious Metals offers a good selection of the most popular IRA-approved coins. They also offer Gold and Silver IRA services.
Before signing up for a precious metals IRA, new investors need information like fee schedules, recommended custodians, recommended depositories, and shipping policies. Legacy Precious Metals does not include this information on its website. Instead, the company's website focuses on promoting the CEO's media appearances and celebrity endorsements.
Although Legacy Precious Metals opened in November 2020, they do not have Better Business Bureau accreditation or a listing on the BBB website. The company is not listed with the Business Consumer Alliance or TrustPilot.
Facebook reviews mostly feature spam comments commonly found on precious metal dealer Facebook pages. Without customer reviews, it's difficult to determine if Legacy Precious Metals follows through with the website's promises of no-pressure sales and "no questions asked" buyback. The lack of customer reviews could be related to the company's age.
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