Orion Metal Exchange Review: Pros, Cons, Gold & Silver Fees? {2024}

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Last Updated: October 31, 2023

In the realm of precious metals investing, Orion Metal Exchange has emerged as a notable player.

With the increasing interest in diversifying investment portfolios, many investors are turning to precious metals as a hedge against economic downturns.

This review delves deep into Orion Metal Exchange, offering insights, reviews, and essential information to guide potential investors.

Orion Metal Exchange Key Highlights

  • Trusted platform with a strong reputation in the precious metals industry.
  • Comprehensive range of precious metals products including gold, silver, platinum, and palladium.
  • Exceptional customer service and educational resources for both novice and seasoned investors.

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What is Orion Metal Exchange?

orion metal exchange logo

Orion Metal Exchange is a distinguished dealer in the precious metals industry, offering a platform that emphasizes transparency, reliability, and comprehensive services tailored to the needs of its clients.

  • Transparency in Pricing: Orion Metal Exchange stands out by providing full transparency to its investors. They post their competitive live online product pricing 24 hours a day, ensuring that clients are always informed about the current market rates. This is in contrast to many competitors who might not offer live online posted product pricing, potentially hiding excessive purchase fees and commissions.
  • Fee-Free Buy-Back Policy: Orion Metal Exchange offers a unique proposition to its clients with a fee-free buy-back policy. This means that they do not charge fees or commissions to buy back the metal they’ve sold to their clients.
  • Dedicated IRA Department: They have a dedicated full-service in-house IRA department that assists clients throughout the life of their account. This is a significant advantage as many competitors might only assist in establishing a precious metal IRA to make a sale.
  • Guaranteed Transaction Pricing: Orion Metal Exchange offers its clients the ability to guarantee transaction pricing with just a phone call, ensuring that clients have clarity and certainty in their transactions.
  • Experience and Reputation: The co-founders of Orion Metal Exchange bring over 40 years of combined experience in the precious metals industry. This vast experience ensures that they are well-equipped to assist clients with all their precious metal needs.
  • Services Offered: Orion Metal Exchange provides a range of services, including the ability to buy, sell, and exchange tangible precious metals. They facilitate insured precious metal shipping to and from accredited retirement accounts, insured commercial depositories, and even home delivery.
  • Recognition: Orion Metal Exchange has received numerous accolades and recognitions. They are a Consumer Affairs Top-Rated Precious Metal IRA dealer, have been nominated as the best precious metal company in the U.S. by Retirement Living, and are BBB accredited with an A+ rating. They have also been recognized by The Chicago Tribune as “The best gold IRA service” in the U.S. and awarded by Money.com as the “Best for low fees” in the U.S. for 2022.
  • Affiliations: Orion Metal Exchange is a member of the NRA Business Alliance, an authorized dealer for PCGS and NGC, and a member of the ICTA (Industry Council for Tangible Assets), which focuses on issues of taxation, IRS regulations, and legislation impacting tangible assets.

In essence, Orion Metal Exchange is not just a precious metals dealer; they are a trusted partner for investors, offering a blend of experience, transparency, and dedicated services to ensure that their clients’ precious metal investment journey is smooth and rewarding.

Orion Metal Exchange IRA

An Individual Retirement Account (IRA) focused on precious metals, offered by Orion Metal Exchange, provides investors with a unique opportunity to diversify their retirement savings. Here’s a comprehensive overview based on the information from their official website:

  • Nature of Precious Metal IRA: A Precious Metal IRA is designed to hedge against inflation and geo-economic uncertainties. While typical IRAs invest in stocks, mutual funds, and bonds, a self-directed IRA, like the one offered by Orion Metal Exchange, allows investors to diversify into tangible precious metals. This diversification can serve as a protective measure against market volatility.
  • History: Since 1975, individuals have been permitted to invest in gold and silver through self-directed IRAs. Known as a Precious-Metal IRA, this type of account offers flexibility to invest in both tangible precious metals and traditional paper investments.
  • Major Benefits:
    • Tax Benefits: Similar to traditional IRAs, a precious metal IRA offers tax incentives. The added advantage is the tangible portfolio diversification it provides.
    • Flexibility: A self-directed precious metal IRA empowers investors with choices. They can select the IRA depository, custodian, and the IRA-eligible precious metal products they wish to own.
    • Protection: Precious metals have historically seen a rise in value during economic instabilities. They can act as a hedge against potential investment risks.
  • Establishing a Self-Directed IRA: With Orion Metal Exchange, setting up a precious metal IRA is straightforward. Whether you’re creating a new IRA or transferring an existing one, Orion Metal Exchange provides assistance every step of the way. They have a dedicated in-house IRA department that aids in selecting a precious metal custodian, an insured precious metal depository, and facilitates other retirement account transactions.
  • Common Questions:
    • Annual Contribution: For individuals under 50, the maximum contribution is $6,000 per year. For those above 50, it’s $7,000 per year.
    • Determining Premiums: Premiums on gold and silver products fluctuate based on market conditions.
    • Eligible Metals: Not all precious metals can be held in an IRA. Only IRS-approved precious metal products are allowed. Orion Metal Exchange assists in choosing IRS-eligible products.
    • Withdrawal Age: The government mandates a minimum distribution starting at the age of 73 in 2023 and moving to age 75 in 2033.
    • Existing Metals: Metals not initially purchased in an IRA cannot be placed into a Precious Metal IRA.
    • Transactions: Precious metals in the IRA are liquid, allowing investors to buy, sell, or exchange without incurring IRS penalties or taxation.

In essence, Orion Metal Exchange’s Precious Metal IRA offers a blend of flexibility, protection, and potential growth, making it an attractive option for those looking to diversify their retirement savings.

Top Reasons to Consider Orion Metal Exchange IRA

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Orion Metal Exchange has made a significant mark in the precious metals industry, offering a range of services and products tailored to meet the diverse needs of investors. Here are some compelling reasons to consider Orion Metal Exchange for your precious metals investment needs:

  1. Transparency and Competitive Pricing: Orion Metal Exchange is committed to full transparency, posting their competitive live online product pricing 24/7. This ensures that investors are always informed about the current market rates and can make informed decisions.
  2. Fee-Free Buy-Back Policy: One of the standout features of Orion Metal Exchange is their fee-free buy-back policy. This means they don’t charge fees or commissions to buy back the metal they’ve sold to their clients, ensuring a hassle-free selling experience.
  3. Dedicated IRA Department: Orion Metal Exchange offers a dedicated full-service in-house IRA department that assists clients throughout the life of their account. This is especially beneficial for those looking to include precious metals in their retirement portfolios.
  4. Experience and Expertise: With over 40 years of combined experience in the precious metals industry, the co-founders of Orion Metal Exchange bring a wealth of knowledge and expertise to the table. This ensures that clients receive the best advice and guidance in their investment journey.
  5. Comprehensive Services: Beyond buying and selling precious metals, Orion Metal Exchange offers insured precious metal shipping to and from accredited retirement accounts, insured commercial depositories, and even home delivery.
  6. Recognition and Accolades: Orion Metal Exchange has received numerous recognitions, including being a Consumer Affairs Top-Rated Precious Metal IRA dealer and being nominated as the best precious metal company in the U.S. by Retirement Living.
  7. Affiliations: Their affiliations with organizations like the NRA Business Alliance, PCGS, NGC, and the ICTA (Industry Council for Tangible Assets) further cement their reputation in the industry.
  8. Protection Against Economic Instability: Precious metals have historically been a hedge against economic downturns and inflation. By investing with Orion Metal Exchange, investors can diversify their portfolios and protect their assets against potential economic challenges.
  9. Best-in-Class Customer Service: Orion Metal Exchange is known for its exceptional customer service, ensuring that clients’ queries and concerns are addressed promptly and efficiently.
  10. Educational Resources: For both novice and seasoned investors, Orion Metal Exchange provides educational resources to help them understand the market better and make informed decisions.

Orion Metal Exchange offers a holistic experience for investors, combining expertise, transparency, and a wide range of services. Whether you’re a seasoned investor or just starting out in the world of precious metals, Orion Metal Exchange is a reliable partner to consider.

Precious Metals Products

4 gold coin from Orion Metal Exchange

Precious metals have been a sought-after commodity for centuries, not just for their intrinsic beauty but also for their investment potential and industrial applications. Orion Metal Exchange offers a range of precious metals products to cater to the diverse needs of investors. Here’s a detailed look at these products:

  1. Gold:
    • Nature: Gold is often considered the most popular precious metal for investment. Its value has been recognized for millennia, and it has historically been used as a currency, a store of value, and a hedge against inflation.
    • Products: Orion Metal Exchange offers various gold products, from bullion coins like the American Gold Eagle and Canadian Gold Maple Leaf to gold bars in various weights.
    • Investment Potential: Gold is seen as a safe-haven asset, especially during economic downturns. Its value tends to rise when other investments, like stocks, are performing poorly.
  2. Silver:
    • Nature: Silver, often termed ‘poor man’s gold’, is both an investment and an industrial metal. Its conductivity properties make it valuable in various industries, from electronics to solar panels.
    • Products: Orion Metal Exchange provides a range of silver products, including bullion coins like the American Silver Eagle and bars of varying sizes.
    • Investment Potential: Silver’s dual role as an investment and industrial metal means its price can be influenced by economic growth and industrial demand, in addition to investment demand.
  3. Platinum:
    • Nature: Rarer than gold and silver, platinum is a dense, malleable metal known for its resistance to corrosion. It has significant industrial applications, especially in the automotive industry for catalytic converters.
    • Products: Orion Metal Exchange offers platinum bars and coins, catering to both investors and collectors.
    • Investment Potential: The price of platinum can be influenced by both its industrial demand, especially from the automotive sector, and its role as a precious metal investment.
  4. Palladium:
    • Nature: Palladium, a member of the platinum group metals, is primarily used in the automotive industry for catalytic converters. It’s also used in electronics, dentistry, and jewelry.
    • Products: Orion Metal Exchange provides palladium bars and coins for those looking to diversify their precious metals portfolio.
    • Investment Potential: Palladium’s price has seen significant growth in recent years, driven by its industrial applications and supply constraints.

Factors to Consider:

  • Purity: When investing in precious metals, it’s essential to consider the purity of the product. For instance, a 24-karat gold coin has a purity of 99.99%, while a 22-karat gold coin might have other metals alloyed with it.
  • Liquidity: Some precious metals products are more liquid than others. Bullion coins, for instance, can be easily sold or traded compared to specialty coins or collectibles.
  • Storage: Depending on the type and quantity of precious metals you invest in, consider storage options, whether it’s a home safe, bank deposit box, or insured depositories.

Orion Metal Exchange offers a comprehensive range of precious metals products, catering to both novice and seasoned investors. Whether you’re looking for a hedge against economic instability, diversification, or potential growth, precious metals can be a valuable addition to your investment portfolio. Always consult with financial experts before making investment decisions.

Orion Metal Exchange Fees

Understanding the fee structure of any investment platform is crucial, as it can significantly impact your overall returns. Orion Metal Exchange, known for its transparency and competitive pricing, has a fee structure tailored to the needs of its clients. Here’s a breakdown of the fees associated with Orion Metal Exchange:

  1. Live Online Product Pricing: Orion Metal Exchange stands out by posting their competitive live online product pricing 24/7. This ensures that investors are always informed about the current market rates, allowing for transparency in transactions.
  2. Fee-Free Buy-Back Policy: One of the unique features of Orion Metal Exchange is their fee-free buy-back policy. This means that when they buy back the metal they’ve sold to their clients, they do not charge any fees or commissions. This can result in significant savings for investors.
  3. IRA-Related Fees: If you’re considering a precious metals IRA with Orion Metal Exchange, it’s essential to understand any associated fees. While they offer a dedicated in-house IRA department to assist clients, there might be fees related to account setup, annual maintenance, storage, and transaction fees. It’s advisable to consult directly with the company for a detailed breakdown.
  4. Storage Fees: Depending on the storage option you choose, whether it’s an insured commercial depository or another form of storage, there might be associated fees. These fees can vary based on the amount of metal stored and the chosen storage facility.
  5. Shipping and Handling Fees: When purchasing precious metals, there might be shipping and handling fees, especially if you opt for home delivery. These fees can vary based on the quantity and type of metal purchased.
  6. Transaction Fees: While Orion Metal Exchange is known for its transparent transactions, it’s essential to be aware of any potential transaction fees, especially when buying or selling in large quantities.
  7. Potential Hidden Fees: Always inquire about any potential hidden fees or charges. While Orion Metal Exchange is known for its transparency, it’s always a good practice to get a comprehensive understanding of all costs associated with your investment.

In conclusion, while Orion Metal Exchange offers competitive pricing and a unique fee-free buy-back policy, it’s essential for investors to have a clear understanding of all associated fees. This will ensure that there are no surprises and that you can make the most of your precious metals investment. Always consult directly with Orion Metal Exchange or a financial advisor to get a detailed breakdown of the fee structure.

Orion Metal Exchange Ratings and Reviews (BBB, Customers)

a screenshot from Orion Metal Exchange BBB

In the competitive world of precious metals investment, the reputation of a company is paramount. Orion Metal Exchange has garnered attention not only for its services but also for the feedback and ratings it has received from its clientele and industry observers. Here’s an in-depth look at the ratings and reviews of Orion Metal Exchange:

  1. Consumer Trust Platforms:
    • Better Business Bureau (BBB): Orion Metal Exchange is accredited by the BBB, a platform that sets standards for ethical business behavior and monitors compliance. An A+ rating from the BBB is indicative of the company’s commitment to addressing customer concerns and maintaining transparent business practices.
    • Trustpilot & Google Reviews: These platforms provide real-time feedback from customers. Orion Metal Exchange has received positive ratings on these platforms, highlighting their reliable services and customer-centric approach.
  2. Industry Recognition:
    • Consumer Affairs Top-Rated Precious Metal IRA Dealer: Being recognized by Consumer Affairs underscores the company’s dedication to providing top-notch IRA services related to precious metals.
    • Retirement Living Nomination: Orion Metal Exchange was nominated as the best precious metal company in the U.S. by Retirement Living, further cementing its position in the industry.
  3. Media Mentions:
    • The Chicago Tribune: This renowned publication recognized Orion Metal Exchange as “The best gold IRA service” in the U.S., a significant accolade that speaks volumes about the company’s expertise in the precious metals IRA domain.
    • Money.com Award: Orion Metal Exchange was acknowledged by Money.com as the “Best for low fees” in the U.S. for 2022, emphasizing the company’s transparent and competitive fee structure.
  4. Customer Feedback:
    • Transparency: Many reviews highlight Orion Metal Exchange’s commitment to transparency, especially in terms of pricing and fees.
    • Customer Service: A recurring theme in customer feedback is the company’s exceptional customer service. Knowledgeable staff, prompt responses, and a willingness to educate clients are frequently mentioned.
    • Product Range: Customers appreciate the diverse range of precious metal products available, from gold and silver to platinum and palladium.
  5. Constructive Criticism: Like all businesses, Orion Metal Exchange might have areas of improvement. It’s essential to consider both positive and negative reviews to get a holistic understanding. Some customers might point out areas where they felt the company could do better, providing valuable insights for potential investors.
  6. Recommendations: A significant indicator of a company’s reputation is the number of customers who would recommend its services to others. Many reviews indicate a high level of satisfaction, with clients willing to refer Orion Metal Exchange to their peers.

The ratings and reviews of Orion Metal Exchange paint a picture of a company that is deeply committed to its clients, offering transparent, reliable, and top-tier services in the precious metals investment domain. However, as with all investments, potential clients should conduct their research and consult with financial advisors before making decisions.

Orion Metal Exchange Pros and Cons

Orion Metal Exchange has established itself as a reputable player in the precious metals industry. Like all businesses, it has its strengths and areas for improvement.

Here’s a detailed look at the pros and cons of Orion Metal Exchange:

Pros:

  1. Transparency: One of the standout features of Orion Metal Exchange is its commitment to transparency. They post their competitive live online product pricing 24/7, ensuring investors are always informed about the current market rates.
  2. Fee-Free Buy-Back Policy: Orion Metal Exchange offers a unique proposition with its fee-free buy-back policy, meaning they don’t charge fees or commissions to buy back the metal they’ve sold to their clients.
  3. Dedicated IRA Department: For those looking to diversify their retirement portfolios with precious metals, Orion Metal Exchange provides a dedicated in-house IRA department that offers full-service assistance throughout the life of the account.
  4. Experience: The co-founders bring over 40 years of combined experience in the precious metals industry, ensuring that clients benefit from a wealth of knowledge and expertise.
  5. Comprehensive Services: Beyond just buying and selling precious metals, Orion Metal Exchange facilitates insured precious metal shipping to various destinations, including accredited retirement accounts, commercial depositories, and home delivery.
  6. Industry Recognition: The company has received numerous accolades, including being a Consumer Affairs Top-Rated Precious Metal IRA dealer and being nominated as the best precious metal company in the U.S. by Retirement Living.
  7. Affiliations: Their affiliations with organizations like the NRA Business Alliance and the ICTA (Industry Council for Tangible Assets) further enhance their credibility in the industry.
  8. Customer Service: Many reviews and feedback highlight the company’s exceptional customer service, emphasizing their knowledgeable staff and prompt responses.

Cons:

  1. Limited Product Range: While Orion Metal Exchange offers a range of precious metals, they are limited to this category. Investors looking for diversification into other commodities or assets might need to look elsewhere.
  2. Minimum Investment Amounts: Some investors might find the minimum investment amounts to be on the higher side, especially those who are just starting out or have limited funds.
  3. Market Volatility: Like all investments in commodities, precious metals can be volatile. While this isn’t a con specific to Orion Metal Exchange, it’s essential for investors to be aware of market trends and potential risks.
  4. Physical Storage Concerns: While Orion Metal Exchange provides options for insured storage, some investors might have concerns about storing their precious metals in depositories rather than having physical possession.

While Orion Metal Exchange offers numerous advantages for those interested in precious metals investment, potential investors should weigh the pros and cons, conduct thorough research, and consult with financial advisors to make informed decisions.

Tips for Deciding if Orion Metal Exchange is Right for You

Choosing the right platform for precious metals investment is crucial. Orion Metal Exchange has made a significant mark in the industry, but is it the right fit for you? Here are some tips to help you decide:

  1. Define Your Investment Goals: Before diving into any investment, it’s essential to understand your objectives. Are you looking for long-term growth, hedging against inflation, or diversifying your portfolio? Understanding your goals will help you determine if Orion Metal Exchange aligns with your investment strategy.
  2. Research and Reviews: Dive deep into reviews and feedback from existing customers. Platforms like Trustpilot, Google Reviews, and the Better Business Bureau can provide insights into the experiences of other investors with Orion Metal Exchange.
  3. Understand the Offerings: Familiarize yourself with the range of products and services offered by Orion Metal Exchange. From the types of precious metals available to the IRA services they provide, ensure their offerings match your investment needs.
  4. Evaluate the Fee Structure: Transparency in fees is crucial. Look into Orion Metal Exchange’s fee structure, including any hidden charges. Their fee-free buy-back policy is a unique proposition, but ensure you understand all associated costs.
  5. Consult with Financial Advisors: It’s always a good idea to consult with a financial advisor or expert in the field. They can provide insights into the pros and cons of investing with Orion Metal Exchange based on your financial situation and goals.
  6. Assess Customer Service: The quality of customer service can make or break your investment experience. Consider reaching out to Orion Metal Exchange with queries or concerns to gauge their responsiveness and the quality of their support.
  7. Diversification Needs: If you’re looking to diversify beyond precious metals, assess whether Orion Metal Exchange meets your broader investment needs or if you’ll need to engage with multiple platforms.
  8. Physical vs. Depository Storage: Understand the storage options provided by Orion Metal Exchange. If you prefer having physical possession of your precious metals, ensure their offerings align with your preferences.
  9. Affiliations and Recognitions: Orion Metal Exchange’s affiliations with industry bodies and the recognitions they’ve received can provide insights into their credibility and reputation in the industry.
  10. Stay Updated: The precious metals market can be volatile. Stay updated with market trends, news, and global economic factors that might influence the value of precious metals. This will help you make informed decisions about when and how much to invest.

While Orion Metal Exchange offers a comprehensive platform for precious metals investment, it’s essential to conduct thorough research and introspection to determine if it aligns with your investment goals and preferences.

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Summary

Orion Metal Exchange stands out as a reliable platform for precious metals investing.

With a range of products, exceptional customer service, and a commitment to education, they offer a holistic experience for investors.

Whether you’re a novice or a seasoned investor, Orion Metal Exchange might be worth considering for your precious metals needs.