With inflation on the rise and economic uncertainty looming, many investors are turning to precious metals like gold and silver to diversify their portfolios. But finding a reputable dealer you can trust is crucial when buying bullion.
In this extensive review, we’ll take an in-depth look at Orion Metal Exchange review to see if they are a recommended precious metals dealer for bullion, coins, and IRAs. We’ll analyze their background, products and services, fees, ratings, complaints, and more.
Whether you’re interested in investing in gold, silver, platinum, or palladium, read on for a transparent review of Orion Metal Exchange so you can make an informed decision.
Overview of Orion Metal Exchange
Orion Metal Exchange is a precious metals dealer located in Los Angeles, California. They were founded by Jacob Blalock, who has over 40 years of experience in the precious metals industry.
Orion specializes in a wide variety of gold, silver, platinum, and palladium coins and bullion products. They also offer Precious Metals IRAs allowing clients to include physical metals in their retirement accounts.
According to their website, Orion Metal Exchange aims to provide investors with “financial security, capital preservation, and portfolio protection” through precious metals. They focus on education and say transparency is at the core of their customer experience.
Here are some quick facts about the company:
- Location: Los Angeles, CA
- Founded by Jacob Blalock in 2015
- Specializes in gold, silver, platinum, palladium
- Offers Precious Metals IRA accounts
- Emphasizes education and transparency
Now let’s explore their products, services, and more in further detail.
READ ALSO: Precious Metal Investing Guides and Bullion Dealers: A Complete Overview
Bullion and Coin Products
Orion Metal Exchange offers a wide selection of investment grade gold, silver, platinum, and palladium coins and bullion.
Gold
For gold, some products they sell include:
- Gold American Eagle coins
- Gold Buffalo coins
- Canadian Gold Maple Leaf coins
- Gold bars and rounds from mints like PAMP Suisse
- Gold Britannia coins (UK)
- Gold Kangaroo coins (Australia)
- And additional gold products
Silver
For silver, they offer bars, rounds, and coins such as:
- Silver American Eagles
- Silver Canadian Maples
- Silver bars from various mints
- Bagged or loose Silver rounds
- 90% Silver US coins
- Chinese Silver Pandas
- Other sovereign Silver coins
Platinum and Palladium
For platinum and palladium, Orion carries products like:
- American Eagle Platinum coins
- Canadian Platinum Maple Leaf coins
- Platinum bars and rounds from PAMP and others
- Palladium Canadian Maple Leaf coins
- Palladium bars and rounds
They have a wide assortment of gold, silver, platinum, and palladium bullion and coins to meet different investing needs. Products are available in various sizes, from 1 oz options to heavier 1 kilo sizes.
READ ALSO: Precious Metal Investing Guides and Bullion Dealers: A Complete Overview
Precious Metals IRA
In addition to physical precious metals, Orion Metal Exchange offers Precious Metals IRAs allowing clients to include gold, silver, platinum, and palladium as part of their retirement portfolio.
Their IRA services include:
- Rolling over existing IRAs to precious metals
- Opening new Precious Metals IRAs
- Assistance choosing IRS-approved bullion
- Setting up secure IRA-compliant storage
- Working with leading IRA custodians
- Guidance on taking IRA distributions
Orion aims to provide turnkey help with the full Precious Metals IRA process, from account opening to funding choices to storage logistics.
They work with IRA custodians like New Direction Trust Company to administer their Precious Metals IRA accounts. Storage for IRA metals is through Brink’s, Delaware Depository, and other secured facilities.
Pricing and Fees
Orion Metal Exchange is upfront that exact pricing will depend on market conditions and the type of products purchased. Premiums charged on bullion and coins will fluctuate daily based on spot prices.
They provide transparent base pricing online showing current ask and bid prices for popular gold and silver coins and bars. You can also get custom quotes by phone or online.
For Precious Metals IRAs, they disclose account set up fees ($50), annual admin fees ($75), and storage fees (approx. $100-$150). Insurance and shipping also apply.
Overall, Orion aims to be fully transparent with pricing and fees. But always verify exact charges at time of purchase, as premiums and fees vary.
Orion’s Purchase and Storage Process
If you want to buy from Orion Metal Exchange, their purchase and delivery process includes:
- Browsing available inventory online or requesting quotes
- Calling to place your order and verify pricing
- Funding your account via bank wire, check, or ACH
- For storage, choosing delivery or pickup locally, or using their storage options
- Once payment completes, order ships fully insured
Non-IRA orders typically ship out quickly in 1-2 days after payment. Signature required on delivery.
For Precious Metals IRAs, it takes a bit longer to coordinate with the custodian and arrange secured storage. Allow 2-4 weeks for IRA-funded orders.
Orion offers storage of non-IRA metals in their vaults or at Brink’s for an annual fee. IRA storage uses Brink’s or Delaware Depository.
Selling Back to Orion
Orion Metal Exchange also allows clients to sell back precious metals originally purchased from them. Their buyback process includes:
- Calling Orion to get a real-time buyback quote
- Shipping your metals back to Orion via tracked insured delivery
- After receiving and validating your metals, Orion sends payment
- Typical payout is via bank wire or check within 2 days
This provides a convenient exit strategy to sell your gold and silver back to Orion when needed. Keep in mind their quotes may be slightly below current spot prices.
Orion Metal Exchange Reviews and Ratings
When considering working with any precious metals dealer, looking at impartial third-party reviews is important. Here is an overview of Orion’s current ratings:
- BBB – A+ Rating and accredited business profile
- Trustpilot – 4.9 out of 5 stars based on 185 reviews
- ConsumerAffairs – 4.7 out of 5 stars based on 178 reviews
- Google – 4.8 out of 5 stars over 30+ reviews
- Yellow Pages – 5 out of 5 stars based on 14 reviews
Reviews from verified customers are very positive overall, with most giving Orion 5 stars. Clients praise their customer service and wide selection of products.
The main complaints relate to delayed order delivery times in a few instances. But the large majority of feedback is excellent.
Is Orion Metal Exchange Reputable?
When dealing with any precious metals company, it’s vitally important to vet their reputation before handing over your hard-earned money.
Based on its consistently positive third-party reviews, ratings, lack of major complaints, and time in business, Orion Metal Exchange appears to be a reputable and credible precious metals dealer.
They are an established company that has served over 10,000 clients and offer full transparency around pricing and services. While no dealer is perfect, Orion seems to make good on their commitments overall based on reviews.
Consumers should still do their due diligence before investing, but Orion checks out as a legitimate outfit based on available background and reputation information.
READ ALSO: A Comprehensive Review of Augusta Precious Metals for Gold IRA Investing
Orion Metal Exchange Compared to Competitors
How does Orion Metal Exchange compare to some of the top competitors among precious metals dealers? Here’s a brief overview:
Augusta Precious Metals
- Known for excellent educational resources
- Wide selection of gold/silver products
- Free insured shipping
SD Bullion
- Low premiums over spot price
- One of the most trusted online dealers
- Large product inventory
Money Metals Exchange
- Low minimum orders – as little as $99
- Fast and affordable insured delivery
- Transparent pricing
APMEX
- Industry leading selection of coins/bullion
- Strong reputation but higher premiums
- Extended business hours
Orion is competitive when it comes to product selection, storage options, and buyback program. Pricing transparency is also good. They offer a solid alternative among reputable national precious metals dealers to consider.
Is Orion Metal Exchange Recommended?
Based on its wide range of bullion products, IRA services, favorable reviews and ratings, transparent policies, and strong industry reputation, Orion Metal Exchange stands out as a recommended option among precious metals dealers.
While slightly higher pricing compared to dealers like SD Bullion and Money Metals Exchange, you gain the confidence of working with a reputable company that delivers on expectations for most customers.
Just be sure to do your own due diligence, compare pricing across dealers, and get all terms in writing before investing. But Orion Metal Exchange appears to be a safe bet for those looking to buy physical precious metals or set up a Gold/Silver IRA.
To Recap: Key Takeaways on Orion Metal Exchange
Here are some final thoughts on what to consider if you are interested in buying from or investing with Orion Metal Exchange:
- Orion is a legitimate precious metals dealer with an A+ BBB rating
- They offer a wide inventory of popular gold, silver, platinum, and palladium coins and bullion
- Pricing is transparent but slightly higher than some competitors
- Numerous positive third-party reviews praise their customer service
- Storage options are available both for IRAs and non-IRA metals
- Take time to compare pricing and products from 2-3 other top dealers as well
- Only proceed once comfortable with their fees, transparency, and service
Overall, Orion Metal Exchange stands out as a reputable and recommended option for precious metals investing. But doing thorough due diligence upfront is advised when investing large amounts.
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