In today’s post, I will discuss a company whose name and web address are identical. What exactly is this silver.com? Is it a hoax or does it operate as a legitimate business? What do the customers have to say about this business, both in their reviews and in terms of their experiences working with it? How well do they compete against the highest-rated cats in this industry? Let’s investigate this and other related topics!
Company: SILVER.comsilver.com review
Website: www.silver.com
Owner: Michael Wittmeyer (CEO)
Price: Depends on your investment amount
Who is it for: Precious metals investors
Overall rating: 3.8 out of 5 stars (3.8 / 5)
Finding bullion and coins made of precious metals of a high quality is now simpler than it has ever been thanks to the Internet. In recent years, there has been a proliferation of online bullion dealers, which comes as no surprise. Don’t let the fact that Silver.com is one of the more recent entrants deter you from giving them a shot. Despite only having been around since 2014, the website has already established a strong reputation for itself and has grown to become one of the most popular choices available. The question that needs to be answered, however, is whether or not it is suitable for you. This Silver.com review will provide you with the most important information concerning the aforementioned online dealer.
How does it work?
In a nutshell, this is a company that is in the business of delivering precious metals as well as dealing with the metals themselves.
Bitcoin, credit and debit cards, PayPal, bank wire transfers, and paper checks are the payment methods that are accepted.
This company can also assist you in opening and funding a retirement account for precious metals.
The following are the goods and services that are on offer:
You can purchase gold, silver, platinum, palladium, and even copper through the online marketplace located at silver.com. They can be found in a wide variety of forms and configurations, including bars and coins as well as collective items.
IRAs?
Yes, individual retirement accounts (IRAs) are something that can be opened here. It is stated on their website that they have a close relationship with 4 different accredited IRA custodians at the present time, and they make the claim that they work with any and all accredited IRA custodians. The process of opening an individual retirement account (IRA) is typically a straightforward one, and that is also the case with this company:
Fees?
On the IRA page of their website, I was unable to find any information about the fees, although there was information about what a precious metals IRA is and what metals are IRA-approved. However, there was not a single word about the fees. On the other hand, I was able to locate some text on their frequently asked questions page that provided the following response to the questions regarding IRA fees:
When you open an individual retirement account (IRA), you will likely be required to pay a one-time setup fee in addition to a recurring annual charge. In addition to this, whichever depository you decide to work with will require you to pay a fee for the use of their storage space. Naturally, there is also going to be the price of the precious metal products themselves to consider. The good news is that in the long run, both the initial investment and the ongoing maintenance expenses will be more than justified.
Important to mention: I always tell my readers that before they sign anything, they should make sure that they have a complete and unwavering understanding of exactly what fees they will be required to pay up front. There are numerous accounts available on the internet of people who were taken aback by unexpected costs, also known as “hidden fees,” which they were unaware of until it was too late to do anything about them. This is an error that you should try to avoid at all costs. I am not claiming that this is the situation at hand; rather, I am merely suggesting that you confirm your assumptions before proceeding. I am not saying that this is the case.
Reputation
People frequently judge the credibility of a business according to the amount of time it has been operational. Due to the fact that Silver.com “opened its doors” in 2014, there is not a significant amount of history to draw from. The way things have worked out, that is irrelevant. There is a wealth of reviews available online written by actual customers, and the vast majority of them are positive. Simply the layout of the website gives it a great deal of credibility on its own. A remarkable feature of this company is the extensive range of products it offers, which includes everything from certified modern coins to bullion bars made of silver, gold, and copper.
Silver.com, just like any other respectable and dependable company, ships orders right away and always keeps customers informed regarding the status of their orders. The Royal Canadian Mint, the United States Mint, OPM Metals, Credit Suisse, and the Austrian Mint are some of the mints that Silver.com has direct relationships with. Other mints include the Austrian Mint.
The fact that these mints conduct business directly with Silver.com is a very reassuring sign because the mints wouldn’t want to be associated with a shady or fly-by-night operation. Right at the top of the homepage, there is a prominent display of badges that the company has earned for its dedication to online safety. The shopping cart system works like a charm, and it is abundantly clear that the company does what it takes to maintain the safety, security, and confidentiality of the information pertaining to its customers.
Silver.com Selection
Even though there is no problem with looking around for precious metal coins, bullion, and other similar items, it is typically much simpler to locate a single online dealer that has a good reputation. Unfortunately, many online dealers have a severely limited selection of products available for purchase. That is not the case, on the other hand, with Silver.com. Everyone, from serious investors to casual collectors, will be delighted by what they find in the site’s inventory, which is continually updated with new and exciting items. The site’s inventory is always being updated with new and exciting items.
The page for the silver category displays a wide variety of silver products, including silver dollars, silver rounds, Chinese silver pandas, certified silver coins, silver bars, and even more. On the page for the gold category, you will find a wide variety of items, ranging from gold coins minted before 1933 to gold kangaroos from Perth. The website provides a varied selection of platinum bars and coins, such as American eagle coins and Canadian maple leaf coins, among other options. Copper rounds, bullets, and bars are also readily available for your selection from our extensive inventory.
You are going to be quite satisfied with the selection if you are looking for coins that have been graded and certified by PCGS and NGC. These coins can be domestic or international. Conveniently, Silver.com also features a page that provides comprehensive instructions and recommendations for beginning a self-directed individual retirement account (IRA) for precious metals. You can also receive assistance from the company if you call them up and ask for it.
Pricing
If you are like the majority of people, the price of the bullion and coins made of precious metals that you purchase from an online dealer is your primary concern. The prices charged by different dealers can vary widely from one another. However, Silver.com has already set itself apart from the competition with its exceptionally low premiums over spot prices. In point of fact, you’ll enjoy very low over-spot pricing across the board on the site, regardless of whether you’re looking for precious metal coins, bullion, or other investment tools.
In addition, Silver.com offers some of the most competitive prices on the market for shipping, and all packages are protected by an insurance policy. There is a $5.95 shipping fee for orders ranging from $0 to $299, a $8.95 shipping fee for orders from $300 to $999, and a $12.95 shipping fee for orders from $1,000 to $2,999. Last but not least, shipping costs are waived for orders that total $3,000 or more.
The bottom line regarding Silver.com is that despite the fact that it is a relative newcomer, it is an excellent option for numismatists, investors, and casual collectors alike.
Prices Found on Silver.com
Throughout the course of its existence, Silver.com has traditionally maintained consistently low prices for both silver and gold coins.
However, over the course of the past few years, they have become less competitive in terms of the prices of their products and the products that they offer.
Check the chart of popular gold and silver bullion products sold by Silver.com if you need to see the current prices for silver and gold on Silver.com. The chart is organized by popularity.
Silver.com has been experiencing consistent decline due to the high free shipping threshold of $3,000. Additionally, there is a lack of competitive pricing and inventory on the website.
We do not anticipate any different outcomes for the website in the foreseeable future unless JM Bullion’s website undergoes some kind of transformation in some way.
WHAT OTHERS LIKE YOU SAY…
Martin Griggs
The Best in Class in Terms of Customer Service
It’s a great relief that someone pointed me in the direction of Silver.com. I was taken aback by the negative comments.
Robert Bennett
Stay far away!
Silver.com is not a reputable business that you should do business with. They sold me an item that was already damaged when it arrived in the mail, which may have been their fault for not correctly packing it or the fault of the post office. Second mailing I received what I thought was the correct product, but it turned out to be of lower quality. I asked for a refund of the difference between the two values, but it was denied. Keep your distance from these dishonest people.
Martin Petrov
On March 16th, I submitted an order to be fulfilled by Silver.com. I did not hear from their team for a period of four weeks. I made a few calls to their customer service department in an effort to get more information about the status of my order. The business has informed me that they are able to fulfil a portion of my order, but they are unsure of when they will receive an additional quantity of the same product and be able to ship it. It was also mentioned that once the product is available, orders will be fulfilled in the order in which they were received. Since they have already started processing my order, I am crossing my fingers that I will be at the top of their priority list. At this point, I am extremely dissatisfied and question whether or not my order will ever be fulfilled, and if so, when. Also, please explain why the company is not responding with information to customers who have orders that have been pending for more than five weeks, and why it is being so evasive regarding information concerning deliveries.
Leon Carrier
Dishonest liars
It’s been said that my check didn’t make it? But they wouldn’t accept my credit card either, would you believe? They either misplaced my check, oversold their inventory, or came to the conclusion that it would be in their best interest to misplace my check and refuse to honour the price I had locked in despite the fact that the price of silver rose by 20% after the fact. These scumbags, along with their parent company J.M. Bullion, are crooks. BEWARE
Diclox
Do Not Use Wire
To keep your finances safe, you should avoid sending any money to this company. Transferred funds; however, the order was not fulfilled after two days. After calling the company, the representative claimed that they had not received the funds, so the order was cancelled. After calling the bank to cancel the wire transfer, we are still waiting for the money to be returned 14 days later. The investigation into the bank has been started. DO NOT SEND YOUR MONEY BY WIRE; instead, use a credit card to make the process of getting your money back go more quickly.
Ted
Have never had a problem
Since I started using silver.com almost two years ago, I have never had an issue with billing or the timely delivery of the items I have purchased from them. The majority of my purchases have been United States Silver Eagles. When I pay with an e-check, I get a discount of 4% off the cost of paying with a credit card. My orders have never taken more than seven days to arrive, and the website allows you to check the status of your shipment at any time. I highly recommend this company. When I have had a problem in the past, such as having to cancel an order and then resubmit it, they have been very helpful and have ensured that the problem is resolved correctly. Absolutely nothing can be said against me. The shipping charge of $5.95, which is fairly high considering the size of the orders I place, is a minor annoyance, but I suppose you get what you pay for.
CT
Poor Website
My credit card was declined when I tried to place an order for the very first time on silver.com. Their representative recommended that I get in touch with the CC company, so I did. Discover stated that the issue originated on their end. Silver.com repeatedly rejected our attempts to make a payment.
Their representative explained that they were having some problems and that there was nothing that could be done about it. Why would anyone want to do business with a company that has such uncaring employees and terrible service?
Kevin Anderson
JM Bullion Tops them all
There is no justification for purchasing silver from any other retailer besides APMEX or JM Bullion. They have the lowest prices and offer free shipping for orders that are more than $100. If you are looking for a Gem Mint Carson City Morgan with a particular date, they may or may not have it, but all of us ought to be purchasing silver for the sake of sheer volume. Rather than spending $200 on a special Silver Eagle, you should instead purchase as many rounds or bars of silver as you can afford. When either the value of the dollar or inflation rates skyrocket, whichever comes first. Nobody is going to be interested in the Gem Mint BU 100-year-old Morgan you have for sale. They will only be concerned with the amount of silver present.
Robert Hitt
I will never buy from Silver.com again!
We placed an order for several hundred silver coins, and up until the moment the shipment arrived, everything appeared to be operating normally. One of the two boxes had been packaged so poorly that the contents had exploded out of a seam in the box and spilled out; somewhere before it arrived at our doorstep in a USPS plastic bag labelled “We’re Sorry About the Damage.” When we discovered that only one tube of coins was missing, we were relieved, and I immediately called and sent photos of the entire situation. The following thing that happens is that I get an email containing a to-do list of requirements that I need to comply with in order for them to fix their mistake of inadequate packaging. The fact that I could have easily claimed that many of the coin tubes were missing is what I find so insulting about the situation. However, I reported that there was only one item missing out of several that had to be shipped in two boxes altogether. If you are foolish enough to place an order with these people, the following is the punishment they will give you if their packaging is defective:
1-Declaration:
I am attaching a Declaration for your review. Please review, print, and sign both pages with an ink pen before scanning them as a PDF or Word document and faxing them to 469-929-2457.
2-Photos with Attention to Detail:
We ask that you please send us back several photos with attention to detail that show the condition in which your package was delivered to you. Make sure that every perspective is represented accurately.
Complaint to the USPS About Stolen Mail Step 3:
Call the USPS at 1-877-876-2455 and wait for the prompt to say “theft.” This will allow you to file a claim with the postal inspectors about stolen mail. After being connected to a USPS representative, they will give you a case number that begins with the letter CA. It would be greatly appreciated if you could provide Silver.com with the case number.
4-Information Regarding the Police Report
It is also necessary for you to file a police report once you have confirmed that the package is not located at your local facility. If you are unable to obtain a copy of the report, please provide the officer’s name, badge number, contact number, and the address of the police station that you reported the incident to in the event that you are unable to obtain a copy of the report. If the police officer tells you that this information can be provided by the postal inspectors of the United States Postal Service, it is acceptable for you to only obtain the officer’s name, badge number, contact number, and the address of the police station.
For your claim to be accepted and for it to be submitted to our insurance company, all of the documents need to be returned by the 12th of December, 2018. Please accept our apologies for the trouble that this has caused you. If you have any further inquiries or concerns, I encourage you to get in touch with me directly by replying to this email or calling the number 972.332.5261.
Disappointed Don
Outdated IT System
In my opinion, they have a terrible computing system that is unable to differentiate between the “billed to” buyer and the “ship to” receiver. What’s even worse is that the service representatives tell me that the owners of the company do not care about this issue. After placing an order for more than $5,000 worth of goods, I am receiving e-mail notifications that contain the names of other customers. What a terrible shame
Jerry Kohl
Still waiting
After two weeks, I still haven’t received confirmation that my payment has been processed. I sent them a government-backed postal money order that could have been cashed at the post office when they picked up their mail from their PO BOX!! Why am I still holding my breath? Others “claim” that they received their orders the following day or within a few days at the most. Since Silver.com informed me that they had received my payment, they have not responded to my inquiries about my order, despite the fact that they claim it took a week and 500 miles to get there. Really? I have high hopes because I believe silver.com is selling silver that they do not possess. I believe that they have been taken in by a con that has finally been uncovered. Before doing business with silver.com, prospective customers should give it some serious consideration first. Scam alert!!!!
Chuck
NO ISSUES EVER
I usually purchase 20–25 ounces of silver each month, and Silver.com is the only place I ever use. Silver.com has NEVER provided me with anything other than positive experiences in my time there.
Due to the fact that I am still fairly new to the process of buying silver online, I made the mistake of using another silver company and ended up having a less than satisfactory experience.
Over the course of more than 30 separate transactions, I have never once encountered a problem with Silver.com, and I almost always get my order the very next business day.
Silver.com ROCKS
What were JM Bullion’s motivations for purchasing Silver.com?
There are two different lines of conjecture that can be drawn from this purchase.
- JM Bullion had its beginnings a year earlier and was already enjoying a lot of success. However, if they changed their name to Silver.com or something similar, it could provide them with a better long-term strategy.
- The second theory is that it would provide JM Bullion with an option to sell their products to the general public at a lower price, allowing them to better compete against smaller dealers even as they competed with APMEX.
When you consider the market in 2012, there were not many dealers operating online. As a result, we believe that JM Bullion wanted to rebrand themselves as Silver.com because they believed that this would be the more successful long-term branding play.
Despite expectations, this did not turn out to be the case. The price of JM Bullion kept climbing to new heights. And despite the fact that Silver.com was once a sizable dealer, the website has experienced a precipitous fall in popularity in recent years, and as a result, the company’s market share and traffic have also shrunk significantly.
Is It Scam or Legit?
Is the website SILVER.com a hoax or a legitimate business? In my opinion, this is a legitimate business, as it has real people running it and a real address in the world. As you can see just a few lines further down, I have also taken note that they are a business that has been accredited by the BBB. You are free to maintain your composure because this company is a legitimate one.
On the other hand, if it is the best one that is currently available, that is an entirely different story, and it is something that you have to decide for yourself. This brings us to the feedback that the company’s customers have provided about their interactions with the company.
Silver.com FAQs
Is there a return policy for Silver.com’s purchases?
Silver.com has a policy that allows customers to return items for a refund, exchange, or other form of credit within three business days of the delivery of their order. Therefore, if you receive your order on a Monday, you will need to report and issue it no later than the following Thursday at the very latest.
Does Silver.com Compute Sales Tax for Its Customers?
Yes. They claim that they are legally obligated to collect taxes in some states. Their sales tax page, which can be found at https://www.silver.com/taxes/, provides information about the states and types of transactions for which they are required to collect sales tax.
Does Silver.com Provide a Discount for Military Personnel?
On Silver.com, we were unable to locate any information about a possible military discount.
Does Silver.com Provide Coupon Codes for Its Customers?
When you search Google for coupon codes for Silver.com, you will find a large number of coupon websites that offer a variety of different codes for Silver.com. Having said that, we were unable to make any of the codes work despite the fact that we tried.
Is Silver.com a Trustworthy and Authentic Website?
Yes. Since 2013, JM Bullion has been in charge of running Silver.com. JM Bullion is widely regarded as one of the most trustworthy online vendors of bullion. You can anticipate the identical quality of order processing and customer service from Silver.com as well.
Does Silver.com Sell Silver at Its Current Spot Price?
No, Silver.com does not provide new customers with the option to buy silver at spot price as part of a starter pack.
Does Silver.com provide assistance with individual retirement accounts (IRAs)?
They do, in fact, devote an entire section of their frequently asked questions (FAQ) to the topic of precious metals IRAs. You can get more information about it at this link: https://www.silver.com/faq/. Be sure to look in the sidebar on the left for the link to the IRA section.
Where is the Headquarters of Silver.com Located?
The administrative headquarters of Silver.com can be found in Dallas, Texas. Nevertheless, A-Mark, located in Las Vegas, Nevada, is in charge of all of their fulfilment options.
Before JM Bullion Acquired It, What Kind of Company Was Silver.com?
The partnership between Silver.com and the Northwest Territorial Mint lasted at the very least until 2012, when it was terminated due to JM Bullion’s acquisition. It would appear that JM acquired ownership of the domain by purchasing it from the Northwest Territorial Mint.
This turn of events was a stroke of luck for the domain name Silver.com because we now know that Northwest Territorial Mint went out of business a few years ago as a result of operating their very own ponzi scheme with the money of their customers.
On archive.org, you are able to view the previous version of Silver.com, which belonged to JM Bullion.
Do you have the option of having the gold and silver brought to your house?
Yes you can! Any order that is more than $3,000 is eligible for free shipping, and the shipment will be fully insured. A flat rate of $7.99 is applied to all orders that are less than $3000.
Would the company allow you to keep your investment with them?
When it comes to individual retirement accounts (IRAs), it is not possible to have your metals shipped to you. The website did not provide me with a lot of information about this topic. Instead, SILVER.com will deliver the metals you have purchased directly to a depository managed by a third party.
Would the company allow you to sell back to them?
Yes you can! They were required to make a minimum buyback payment of one thousand dollars. On their website, the company states that they will provide you with a buyback price that is reasonable and just.
Is it possible for people from any country to use their service?
Since this information is not provided on their website, I will make the assumption that their products and services are only available to residents of the United States. The flat shipping rate for orders that are less than $3,000 is $7.99.
Conclusion
The following is the conclusion that can be drawn from this: First, as can be seen up top, they have received ratings from two of the most reputable and trustworthy independent third-party consumer protection agencies; second, as can be seen clearly, their ratings, in my opinion, are fairly average. You are able to do so by following the links provided above if you would like to read both the positive and the negative opinions shared by previous customers.
How would you rate the support?
Support
They received the majority of their support through the use of e-mail or by calling them directly at the following tool free number: (888-989-7223),
Due to the fact that it is stated on their website that they have a live chat option, I spent several minutes looking for it there.
On the other hand, I was unable to locate it, which leads me to believe that if they do have one, it is very well concealed.
The pros & cons
It is always a good idea to compare the positive sides of something to the negative sides in order to get a better overall view of whatever it is that you are considering. As I do in all of my reviews, I will lay out some points that are crystal clear on both ends of the spectrum:
Pros
- Extensive selection of precious metals and collectives, in addition to accessories
- Accredited by the Better Business Bureau;
- accepts payments via Bitcoin and PayPal;
- offers IRAs
Cons
- The reviews and ratings given by some of the most well-known consumer protection agencies were not very impressive.
- On their website, the IRA fees are nowhere to be found.
Are You the Owner of SILVER.com, or Do You Represent It?
If you are a representative or associate of SILVER.com and have discovered something in this review that is not correct, please do not hesitate to contact me and let me know; I will make sure the information on this post is updated accordingly. The simplest way to do so is either by leaving a comment on this page or by sending an email to contact@goldretired.com. Silver.com is widely regarded as one of the best online marketplaces for purchasing physical silver and gold bullion, in addition to a wide range of other precious metals products.
If there are any other questions that you would like answered, please don’t hesitate to get in touch with us. We are always happy to talk with people who are considering buying from us or who are already our customers.