Schiff Gold Review

This Schiff Gold Review page has been created by Bear Lake Gold an independent organization that reviews precious metal companies to answer many of the questions we find potential investors have.

Rest assured that we will answer serious-minded investors' most important questions about this gold IRA company. As you read through, we will provide extra information to guide your decision-making about whether to do business with this company.

In this Schiff Gold review, we, as an independent organization that reviews precious metal companies, aim to give our readers impartial, well-grounded, and accurate details about the gold and silver firms we evaluate. We aim to provide all the information you need to enable you to weigh the companies we have reviewed on a comparable basis.

We utilize our expert gold dealer review methodology in carrying out our review procedures. As a major essence of our review procedure, we extend our research to important individuals in the organizations we review; this includes owners, managers, staff members, and previous and current clients of these companies.

We form our impartial standpoint from the details we get from reaching out to these important individuals. These details show how suitable, ethical, moral, and competitive these companies are in the precious metal industry.

Hence, the information we will give you in this Schiff Gold review document will cover crucial aspects of the company, like its leadership team, its pros and cons, what they are selling, and how customers rate them on various online review websites.

In addition, we want to answer these three fundamental questions for you using the details we will provide in this review document.

  • Is Schiff Gold a scam or a legit company?
  • Would we suggest doing business with Schiff Gold?
  • Which companies would we recommend as the best precious metals & gold IRA investment companies?

Summary for Those Who Want a Quick Abridged Answer

After we met with the various individuals associated with Schiff Gold, we made the following conclusions about the company.

  • Schiff Gold does not scam unsuspecting investors.
  • Schiff Gold is not one of the companies we feel we can list in our top 30 gold dealers or precious metals IRA providers.

To find out why we came to these conclusions about the company, please read this Schiff Gold review document till the end.

However, we still need to provide an answer to the last question. “Which companies would we recommend as the best gold IRA investment companies to do business with?”

Our main aim is to give you the information you need to make an informed decision and to provide recommendations based on our extensive research; we have, therefore, carefully handpicked the gold IRA companies we deem the best in the industry. We have rated these companies as the top three in the market because of their amazing qualities over others. These gold IRA companies are Augusta Precious Metals, Goldco, and American Hartford Gold.

You should find out more about each of these three companies by requesting their in-depth guides, which are obtainable by clicking the buttons below. These guides are straightforward, easy to understand, and free. All you need to do is register your details; the super valuable guides will be yours to keep. We promise that the documents will be worth your reading time.

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Schiff Gold

Introduction to Schiff Gold

Schiff Gold is a precious metal and gold IRA company founded by an American investor in 2010. The company is located at 152 Madison Ave, Suite 1003, New York, NY 10016.

According to one of the staff members we interviewed, Schiff Gold sells precious metals with very high liquidity for the most competitive prices. The product catalog of Schiff Gold contains gold, silver, platinum, and palladium coins. It also sells gold and silver bars to interested investors.

In addition, the agent told us that there is a section on the company's website labeled "Research & Analysis." According to him, this section contains precious metals charts, Frequently Asked Questions (FAQs), and blog posts about precious metals. Moreover, customers can get market analysis and investment news by following the 'Gold News.'

Schiff Gold Management Team

The owner of Schiff Gold is Peter Schiff. Peter is a financial commentator and an investment broker. Peter Schiff is well known for having decades of experience in the financial market.

He also predicted the economic crash in 2008 that left people’s investments in shambles. According to Peter Schiff, the reason for starting Schiff Gold is to aid investors in securing alternative assets like gold and silver. Peter Schiff is also a frequent guest in the news because of how he talks about investing and criticizes the government.

Peter’s financial expertise and good reputation have given a big name to the company. Some folks in the financial market say that Peter saved them from financial crises when the stock market went down, and they did not have enough investment stability to ride the wave.

Schiff Gold also has two executive directors, Jonathan Sosnay and Matt Malleo. It also has a director of technology, Fabian Gambino. Fabian is in charge of maintaining the company’s website. These three employees also work as gold and silver experts for Schiff Gold.

Besides these three, Schiff Gold has two other precious metals experts, Joel Bauman and River Allen. When we spoke to River Allen, he told us that he works with Joel Bauman to provide customers with information about the various factors affecting the prices of precious metals.

Finally, the staff accountant of Schiff Gold is Valeria Alikakos

What is Schiff Gold Selling?

When we spoke to one of the company’s representatives, he told us that Schiff Gold sells products in the following categories.

  • Gold
  • Silver
  • Platinum
  • Palladium

According to the customer representative we spoke to, Schiff Gold also sells IRA-eligible precious metals, and some of the famous IRA-eligible products that you will find in the company’s catalog include;

  • Gold Austrian Philharmonic
  • Gold American Buffalo
  • Gold American Eagle
  • Gold Canadian Maple Leaf
  • Silver Austrian Philharmonic
  • Silver American Eagle
  • Silver Canadian Maple Leaf
  • Platinum American Eagle
  • Platinum Canadian Maple Leaf
  • Palladium Canadian Maple Leaf

Schiff Gold Costs and Fees

The rep we spoke to about Schiff Gold products' costs told us that the company does not give information about its pricing on its official website. However, it offers competitive pricing. According to him, customers who want to buy metals from Schiff Gold need to contact its specialists to help them select the metals that suit their budgets, needs, and goals.

When customers finalize the right investment products with the company's specialists, they will get emails containing all the charges associated with their investments, including the total prices of their purchases.

What are Schiff Gold’s Products and Services?

Precious Metals

Schiff Gold offers a variety of precious metal products. Customers can purchase metals in bullion, bars, and coins from the company.

However, the company does not sell numismatic coins. It believes these products are not best for investments for the following reasons.

  • Their markups are usually higher than their actual value.
  • People who sell numismatic coins put so much emphasis on sales commissions.
  • Selling numismatic coins for profit after buying them is a very complicated venture.

In the company's opinion, numismatic coins are best for collectors who want them in their collections.

If you go through the company’s website, you will also find other metals available like;

  • Barter metals
  • Limited edition bullion

The prices of these products change from time to time because of influences from market conditions. However, a Schiff Gold specialist will always help you select the precious metals that will be best for your investment needs when you are ready to buy from them.

Buying Precious Metals from Schiff Gold

Investing in precious metals through Schiff Gold can be done in these simple steps.

  • Reach out to one of the customer representatives through the live chat feature on its website or reach one of the Schiff Gold precious metal specialists via a phone call.
  • The specialist will tell you the company's goal, a current general overview of the precious metals market, and the benefits of precious metals investments. Then the specialist will discuss your long-term goals, investment budget, and portfolio. When you give them this information, they will recommend the best metals for you to purchase.
  • After finalizing with the specialist, you can place your order. The specialist you are speaking to will take care of the major part of the purchase through a phone call or live chat. Then you will get an email containing these four details about your order.
    • The total cost of your order
    • Products Insurance
    • Shipping
    • Payment instructions
  • When you get this email, the next thing to do is to pay for your order. Primarily, Schiff Gold recommends check payments or bank wire transfers. Immediately after you pay and the company confirms it, it will send your precious metals to you or a storage vault. It is important to note that it takes Schiff Gold twenty-four hours to clear wire transfer payments and five business days to clear checks.

From this last step, the company takes full responsibility for shipping your metals. All you have to do is specify where you would prefer Schiff Gold to ship them to. The company ships products via FedEx, UPS, or USPS. All your metals will have Lloyd's of London full insurance, so you do not need to worry about losing your money if your products get lost or damaged during transit.

Schiff Gold processes customers’ orders in between 1 to 2 days. Then, it will take between 2 to 5 days to receive your metals once the company ships them. The shipping time variation depends on the shipment company and your location.

One of the company's agents told us that customers could also pay for their products using cryptocurrency. However, customers who desire to pay with cryptocurrency must use a wallet compatible with BitPay. For cryptocurrency transactions, it takes just 15 minutes to lock in your order because of the crypto market volatility and price. You will get an order confirmation when the payment goes through.

Precious Metals IRA

Schiff Gold offers IRA services. It partners with several IRA custodians to provide custodianship for clients that want to open a gold IRA and diversify their portfolio. When we asked a customer care rep about this service, he told us, "We have developed direct working relationships with multiple trust companies that offer self-directed plans."

gold ira pros and cons

Storage

Schiffgold partners with Transcontinental Depository Services to provide interested investors with segregated and non-segregated vault storage options. According to one of the company's clients, Schiff Gold charges $150 yearly for storage.

Selling Precious Metals to Schiff Gold

You can sell your metals to the company regardless of whether you bought from them or not. If you want to sell a precious metal that Schiff Gold does not have in its catalog, you must first contact a customer rep to verify whether the company will purchase it.

Just follow these simple steps to sell your precious metals to Schiff Gold.

  • Contact the company through its live chat feature, call or email and inform them about your intention.
  • You will speak with a team member that will take you through the selling process. The team member will also give you a quote if Schiff Gold agrees to buy. If not, the staff will let you know that the company cannot purchase the metals now.
  • After getting a quote, you should pack and ship the metals. It is usually a better option to insure the package so that you will get compensation for them if it gets lost during transit. You can also drop off the metals in any of the company's physical national or international locations.
  • When Schiff Gold receives the metal, you will get your payment via a bank wire transfer or check.

How Do Customer Review Sites Rate Schiff Gold?

BB Review and Customer Testimonials

No Reviews Were Found

No Reviews Were Found

Business Consumer Alllience Review

No Reviews Were Found

No Reviews Were Found

Google review

4.2 out of 5 stars

This rating was based on only 10 reviews

Facebook Reviews

4.9 out of 5 stars

This rating was based on only 46 reviews

Trustpilot Reviews

No Reviews Were Found

No Reviews Were Found

Now, Schiff Gold is not offering any promotions to new customers. If you desire to invest in a gold IRA through a company that offers promotions to new investors, we recommend investing in an IRA through American Hartford Gold . You can get up to $10,000 worth of free silver if you qualify for a gold IRA rollover.

 

 

American Hartford Gold Free Silver

Pros and Cons of Schiff Gold

Pros
They sell high-quality precious metals
They have precious metals experts in their staff team
Peter Schiff, Schiff Gold's owner, is a reputable man in the industry with verifiable social media handles
They offer investment advice to customers based on clients' investment needs, portfolios, and goals.
They have an educational section on their website
You can sell your metals to them.
Cons
Schiff Gold are not a better Business Acredited Company
They do not have enough ratings on third-party websites, and we failed to recruit enough present or previous customers to ensure we felt we could recommend them
They do not disclose their prices on their website; this can be a red flag as you cannot compare before you are forced to talk to a "specialist", a salesperson.

Schiff Gold Conclusion

After conducting our research and evaluating the information we collected, this Schiff Gold Review concludes that Schiff Gold are not a scam operator; they are a legitimate gold IRA business with a verifiable owner and good business standards. They have some highly expert staff.

However, they failed to reach our top twenty gold dealers in the USA for a variety of reasons, including they do not have enough reviews on many of the review sites to prove they are doing a good job, we could not find enough testimonials for them either, and we struggle to recruit and interview current or past customers.

In addition, some of its pricing information is still undisclosed.  This means you cannot compare pricing with other companies before making a deal. We would not want our readers to invest in a company that we are not sure of its pricing, costs, and fees because they are not transparent about it.

Rather, we recommend investing in your gold IRA through our top three gold IRA companies. These firms are Augusta Precious Metals, Goldco, and American Hartford Gold. These companies are transparent about what they sell, and their prices and have tons of positive reviews on various rating sites to show that they keep their word.

To access detailed investment reports from any of our three top recommended gold and gold ira specialists at no charge, please click the relevant buttons in the 'Top Three Schiff Gold Alternatives' section below to request their complete review packs.

Our Recommended Alternatives To Achiff Gold

Our #1 Precious Metals & Gold IRA Company - Best Overall

Augusta Precious Metals is our best rated overall precious metals company

  • Customer care is exceptional
  • Pricing is highly competitive
  • Educational program second to none
  • The best FREE investment guide in the industry
  • Zero complaints on BBB & BCA
  • Free shipping on all orders

Our #2 Recommendation - Best For Promotions

Goldco is our second top rated gold and precious metal company. Having been top rated all of last year they were very close top Augusta Precious metals

  • Great promotional offers
  • Pricing is highly competitive
  • Educational program second to none
  • FREE investment guide in the industry
  • High buyback prices
  • Expert guidance provided by the team
  • First years fees waivered for new customers

Our #3 Gold & Silver Company -Great Prices and Great Customer Service

American Hartford Gold is our third top rated company.

  • A leading, recognized and trusted brand in the industry
  • A family owned and run business
  • Excellent customer service
  • Buy back guarantee
  • Free shipping
  • Promotional offers for new  customers
  • Transparent about cost
  • Diligent when it comes to compliance

 

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