What is Silver.com?

Silver.com is an online retailer that specializes in the sale of precious metals, specifically silver bullion. The company offers a wide selection of silver products, including coins, bars, and rounds from renowned mints such as the United States Mint, the Royal Canadian Mint, and the Perth Mint. Silver.com also provides information on the latest market trends, news, and analysis related to the precious metals industry. The company was founded in 2013 and is headquartered in Dallas, Texas.

Silver.com are prominent precious metals dealer that offers a vast selection of coins and physical bullion in a wide range of styles and sizes.

For investors who prioritize protecting their wealth, owning the physical metal directly is crucial.

Unlike ETFs and other types of investments that only provide “paper” ownership of silver or other metals, purchasing physical bullion ensures that investors have tangible assets in their possession.

People Behind Silver.com:

Mr. Michael Wittmeyer serves as the CEO and Principal of Silver.com, a prominent online retailer specializing in precious metals. As the CEO, Mr. Wittmeyer is responsible for overseeing the overall strategy and direction of the company. Mr. Thomas Fougerousse is the Director of Customer Experience at Silver.com. In his role, Mr. Fougerousse is responsible for ensuring that customers have a positive experience when purchasing precious metals from the company. He oversees customer service and support, as well as the overall customer journey.

Specific information about the individuals behind Silver.com is not publicly available, the company has a leadership team that oversees its operations. In addition to these two individuals, Silver.com has a team of experienced professionals who are responsible for various aspects of the company’s operations, including marketing, IT, and finance.

Sadly, they don’t share any information about this team online.

How to Invest in Silver.com IRA?

Investing in Silver.com IRA involves a few steps, which are as follows:

1. Choose a Custodian: The first step is to select a custodian for your self-directed IRA. You can either choose one of Silver.com’s partner IRA custodians or use a custodian of your choice. Silver.com works with most custodians, but it’s important to ensure that your chosen custodian allows for investments in precious metals.

2. Open a Self-Directed IRA: Once you have selected a custodian, you will need to work with them to open a self-directed IRA with the intention of purchasing IRA-approved precious metals from Silver.com.

3. Fund Your Account: After opening your self-directed IRA, you need to deposit funds into the account. Your custodian will guide you through the process of rolling over an existing account or funding a new one.

4. Notify Silver.com: Once your account has been funded, your custodian will notify Silver.com of the contribution amount. You are then ready to place an order for IRA-approved metals from Silver.com.

5. Make Your Purchase: After locking in pricing and products, Silver.com will ship the metals to your chosen depository. If you need help selecting a depository, Silver.com provides a list of popular depositories to choose from.

However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.

Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer of your state and choose accordingly.

Also, the list will help you understand what the industry’s best has to offer and what you might miss out on.

Silver.com Products:

Silver.com is a platform that offers a vast range of products made of precious metals, including coins and bars. The silver coins category includes popular government-issued coins like the American Eagles, Canadian Maple Leaves, and South African Krugerrands, along with some lesser-known collectible coins from different countries like Armenia, Rwanda, Somalia, Mexico, Austria, and the Congo. These coins are typically certified as .999 or .9999 pure silver and minted in recent years. Customers can buy them individually, in groups, in rolls, or in bags of mixed coins.

Apart from these recent coins, Silver.com also sells older coins containing 40% to 90% silver, including circulated US coins like Franklin D. Roosevelt dimes, Benjamin Franklin half dollars, George Washington quarters, Morgan Silver Dollars, Walking Liberty Half Dollars, Barber Quarters and Half Dollars, and silver Mercury Dimes. Customers can purchase these coins individually, in groups, in rolls, or in bags of mixed coins.

SILVER PRODUCTS:

Silver bars are a popular option for investors as they provide an easy way to store larger quantities of silver. Silver.com offers .999 pure silver bars in different sizes, ranging from 1 oz. to 100 oz., along with bars weighing as little as 1 gram. The platform also offers unique silver coins and bars like the 1/4 oz. S.S. Gairsoppa British Britannia and silver bullets and statues.

GOLD PRODUCTS:

Gold products on Silver.com include popular coins like American Eagles, Canadian Maple Leaves, and Mexican Libertads, along with many 1 oz. specially designed gold coins depicting superheroes and characters from franchises like Star Wars and Lord of the Rings. Customers can also purchase gold bars ranging in size from 1 gram to 1 kilogram, along with pre-1933 American gold coins and special gold notes issued by various states.

OTHER PRODUCTS:

Silver.com also offers platinum and palladium coins and bars, copper coins, bars, and cubes in various sizes, and cryptocurrency wallets made of copper. In addition, the platform provides various kinds of tubes and cases for both bars and coins.

Silver.com Fees and Charges:

Silver.com ships orders typically on the same day they are placed, except for orders paid by check, which they ship out 4-6 business days from the day the check is deposited. The company imposes a flat shipping fee of $7.99 for orders under $199, while orders of $199 or more are shipped for free. They carry out shipping through UPS or the US Postal Service, depending on efficiency, and require signature verification for orders over $1,000.

Silver.com ships orders from Las Vegas, NV, and delivery times vary. However, the majority of orders are delivered within 1-4 business days after shipping. The company collects sales tax on items shipped to 46 states and the District of Columbia. Exceptions to this are Delaware, Montana, New Hampshire, and Oregon, where you are responsible for paying the state sales tax yourself. If you are storing your bullion in a state other than your own, you will pay the sales tax associated with the state where the bullion will be stored. You can find state tax details in Silver.com’s special directory.

Silver.com offers competitive pricing on all its products, but fees paid above the spot price depend on your payment method. Fees are lowest for payment by check or wire transfer, and highest for credit card and PayPal payments. Cryptocurrency payments fall somewhere in between.

Silver.com Reviews and Complaints:

Better Business Bureau (BBB):

On the Better Business Bureau website, Silver.com has an A+ rating with 4.76 stars out of 5-star ratings based on 76 customer reviews. They have been in the industry for 9 years. A total of 9 complaints have been closed in the last 3 years. The business is also BBB accredited on the Better Business Bureau website.

Sitejabber:

On Sitejabber, Silver.com has 3.57 stars rating out of 5 stars based on 15 customer reviews and complaints. Mostly all the reviews provided by the customers are mixed. Also, you’ll find both Positive and Negative reviews. Customers praised the company’s customer service, expertise, and rapid shipping.

Trustpilot:

On the Trustpilot website, Silver.com has 3.2 stars out of 5-star ratings based on customer reviews. There are 15 customer reviews on the website. The business has average ratings on Trustpilot. 

ShopperApproved:

On ShopperApproved, Silver.com has 4.8 stars out of 5-star ratings based on 64,561 customer ratings and reviews. Mostly all the customers highly appreciate the company’s exceptional customer service, professionalism, and expertise.

Are There Any Silver.com Complaints? Should You Be Concerned?

Yes, there have been complaints about Silver.com. However, it’s important to note that every business, no matter how legitimate, will likely receive complaints from customers from time to time. It’s also important to consider the number of complaints relative to the overall volume of business that Silver.com conducts.

According to the Better Business Bureau (BBB), Silver.com has had 9 complaints closed in the last 3 years, and 2 complaints closed in the last 12 months. These complaints have largely revolved around issues with products or services, such as delivery issues or problems with the quality of the product received.

Surely, these complaints can be a major red flag for many investors.

When you’re investing large sums, you don’t want to face any hiccups with the product’s arrival. However, the high frequency of these complaints is not a good sign.

That’s why I suggest going with a reputed and more specialized company.

Here are Some Complaints You Must Read:

#1. Leon stated that his check was “lost” by Silver.com conveniently after the price of silver went up following his order. He advises checking other reviews as he is not the only one who has faced this issue. Additionally, the service provided was terrible and the company refused to accept payment by credit card. He strongly advises you to keep your money away from these crooks as much as possible.

#2. AAF reported that he had a negative experience with Silver.com. Despite sending a first-class check with tracking one day after placing the order, the company did not honor his order, it did not arrive in time due to the holiday mail. AAF suspects that had the price of silver decreased during this time, Silver.com would have accepted his check. He has decided not to conduct business with them again.

#3. David states that his check was rejected twice by Silver.com, and they also declined his American Express card. Eventually, they accepted his Visa card, but their check verification system needs improvement. He had to pay an additional $400 to use his credit card.

#4. Isaac reported that despite having sufficient funds in his PayPal account to purchase 5 eagles, he kept receiving an error message stating that he did not have enough funds. He believes that there is an issue on Silver.com’s end and urges them to address it.

#5. Karl expresses disbelief towards Silver.com and other related companies based in Dallas, Texas, stating that he had a particularly unpleasant experience with them. His order was delayed for three days without any progress, and the service he received was extremely poor – in fact, he received no service at all. He is confident that he will not do business with them again.

Additional Complaints I Found:

#1. George N. comments that he believes the customer service at this company is non-existent. He also thinks that they are price gouging during a time of national emergency and global pandemic, which he finds un-American.

#2. Richard S reports that he had a positive experience using UPS for delivery as they required a signature, which he appreciated. However, in his previous order, he used USPS and experienced an issue where they delivered his silver to the wrong address and falsely claimed he signed for it.

#3. A.H. reports that despite having a clear case of multiple disabilities and a history of being fired from jobs due to his brain disease. The staff at Silver.com were unprofessional and rude and failed to assist him. They led him on and treated him unfairly.

#4. Robert B. warns that dealing with silver.com is a bad idea. His experience with them involved receiving a damaged product in the first mail, which could have been due to their inadequate packaging or the post office’s handling. On the second delivery, he received the wrong product that had a lower value. Despite his request for a refund for the difference, they refused to comply, claiming that his order was correct. He strongly advises staying away from this company, as they engage in bait-and-switch tactics and are dishonest.

#5. Brett G comments that the shipping cost for coins is exorbitant. He finds the ordering process inconvenient as he is required to remember passwords and cannot check out as a guest. In his opinion, this is ridiculous. Although he acknowledges that the product is good, the ordering and shipping experience leaves much to be desired. He plans to search for an alternative to silver.com.

Snippets of Some Positive Reviews:

#1. Whit K reports that the service and price for the products ordered from Silver.com were good. He found it easy to do business with them.

#2. Theresa C recommends Silver.com based on her positive experiences with them. She has placed numerous orders in 2021 and has always received quick and discreet delivery of high-quality metals. In addition, she praises their excellent customer service and recommends the company to her friends and family across the country, including those living in Connecticut.

#3. Rusty says that they have been purchasing from Silver.com for several years and have always been satisfied with their prompt and discreet service.

#4. Christine B highly recommends Silver.com, as she has placed three orders with them and received top-notch customer service along with fast and discreet shipping. She would gladly recommend the company to her family and friends and rates them with five stars.

#5. Joel M. reports that while Silver.com is a reputable company, they appear to be experiencing website issues that prevent it from opening. Additionally, the phone number listed on the Better Business Bureau website belongs to another business. He is concerned that this may indicate that the company has closed and requests that someone investigate the matter.

Some More Positive Reviews:

#1. Tammie T reports having had a positive experience buying from Silver for the past four years, noting good products and timely delivery.

#2. Joseph I. mentioned that he ordered 20 oz silver bars and they arrived quickly without requiring a signature. While he is unsure about their customer service for the replacement of missing items. He would still do business with them again. He also expressed his desire for a letter of authenticity but acknowledges that it’s not difficult to determine if the silver is genuine.

#3. Lyric M. positively states that he purchased 10oz of silver with Bitcoin and had an excellent experience with Silver.com. He found the entire process to be very smooth and plans to order from them again. He feels that the overall negative reviews on the website do not accurately reflect the professionalism he encountered through phone and email interactions with the company.

#4. Ron W. shares that when he shops for silver, he usually opens 8-10 different websites to compare prices, and he finds that Silver.com is hard to beat most of the time. The only time he would consider another seller is if he’s looking for a very specific item that Silver.com doesn’t carry.

#5. MoreSoySauce notes that the process was slightly delayed due to the increased demand for stacking these days. However, he has no complaints about his experience with Silver.com. The quality of the product was thoroughly checked upon arrival and was found to be satisfactory. The prices offered were also great. Overall, he encourages Silver.com to keep up the good work.

Is Silver.com Legit? Should You Invest With Them?

No. I don’t think you should invest with them.

While it’s true that Silver.com is a legitimate precious metals dealer, they have too many red flags. Certainly, they are not the best.

They have received complaints for delayed shipping, sending damaged products and ignoring customer feedback.

All of this can be quite detrimental to your portfolio.

That’s why I recommend checking out my top precious metals companies. I have selected them after reviewing over a hundred retirement investment firms.

Also, on our Best Gold IRA Companies page, you can find the highest-rated company of your state as well. So, be sure to check it out.

Have you done business with Silver.com? How was your experience? Let us know in the comments!

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