What we like:
Best for accounts with a small balance
| What’s offered | Precious metals IRA & coins |
| Annual fees | $150 to $225, depending on your account balance |
| BBB rating | A+ |
| Trustpilot rating | 4.9/5 |
BBB and Trustpilot ratings checked on March 15, 2021.
Orion Metal Exchange is a Los Angeles-based precious metals company. It helps customers invest in various precious metals, including silver, gold, platinum, and palladium. It also helps investors open precious metals IRAs. These accounts let people invest in precious metals while getting the tax benefits offered by Individual Retirement Accounts (IRAs).
In this review:
- What does Orion Metal Exchange offer?
- How much does Orion Metal Exchange cost?
- Customer ratings
- Where does Orion Metal Exchange store my precious metals?
- Can I see how my precious metal investments are performing?
- Pros and cons of Orion Metal Exchange
- How can I withdraw from my account?
What does Orion Metal Exchange offer?
Orion Metal Exchange facilitates investment in precious metals and helps manage precious metals IRAs.
Precious metals IRA
If you want to save for retirement while investing in precious metals, Orion Metal Exchange can help you open a precious metals Individual Retirement Account.
IRAs are a special type of retirement account that offers tax advantages if you use one to save for retirement. With a traditional IRA, you can deduct any money you contribute from your income when you file your taxes, meaning you pay less tax in the years you contribute. Instead, you pay taxes when you withdraw from the account in retirement when you likely have a lower tax rate.
Orion Metal Exchange can help investors buy, store, and sell precious metals in an IRA. You can contribute cash to your account and work with Orion Metal Exchange to buy the metals you want to own.
Silver, gold, platinum, and palladium products
If you don’t want to open an IRA to hold your precious metals, you can still work with Orion Metal Exchange to buy coins. The company lets investors purchase silver, gold, platinum, and palladium, letting you build a diverse portfolio of precious metals.
Coins available for purchase have been minted in:
- Australia
- Canada
- The United States
- The United Kingdom
The majority of the coins for sale come from the United States.
One major drawback of Orion Metal Exchange is that you cannot place orders for coins online, and many coins’ prices are not viewable on the company’s website. You have to call and speak to a representative to get pricing information and to place an order.
How much does Orion Metal Exchange cost?
Financial services, including investing, come at a cost, and investing in precious metals is no different. Precious metals are relatively unique among investment options because you have to account for transportation and storage costs. With stocks and bonds, there may not be a physical instrument to take care of. Precious metals are purely physical things, which means you have to keep them safe somewhere.
Companies like Orion Metal Exchange that help people buy and sell precious metals work with companies that ship and store valuable things like silver and gold coins or bars.
Orion Metal Exchange charges between $150 and $225 annually depending on the amount you invest and where you choose to store your precious metals.
Fees related to maintaining a precious metal IRA are tax-deductible, which may reduce the effective cost of maintaining the account.
Customer ratings
When dealing with any financial services company, you want to make sure that you’re dealing with a reputable business. That’s especially true when you’re working with a precious metals company because you need to trust it to safely store your metals.
The precious metals industry is also a popular area for scammers to operate in. That means it’s even more important to make sure that you know and trust the company you’re working with.
Orion Precious Metals is a well-known company that has strong customer ratings from many sources.
| Source | Rating |
| Better Business Bureau | A+ |
| Trustpilot | 4.9/5 |
| 4.9/5 |
Ratings as of March 15, 2021.
Where does Orion Metal Exchange store my precious metals?
One thing that makes precious metals investing complicated is the fact that metal is a physical asset. You need to find somewhere to store your metals, which can be tricky if you have an extensive portfolio.
Orion Metal Exchange offers multiple options for storing your metals, letting you keep them at home, in a bank, or at one of its partner depositories. Depending on your account type, some of these options won’t be available. For example, government regulations forbid you from storing metals in a precious metals IRA at home.
All of Orion Metal Exchange’s partner depositories use state of the art security techniques to keep your metals safe.
Can I see how my precious metal investments are performing?
With any investment, it’s important to keep an eye on your portfolio’s performance. Watching price movements in your portfolio can help you assess your inverting strategy and adjust it as necessary.
The custodian you are paired with will be responsible for providing you with an online account that allows you to monitor your portfolio’s performance.
However, the company’s website includes up-to-date information on pricing for different metals, including silver, gold, platinum, and palladium, which you can use to inform your investments.
Pros and cons of Orion Metal Exchange
Consider the pros and cons when deciding whether to open an account with Orion Metal Exchange.
Pros
-
Low annual fee
-
Invest in 4 types of precious metals
Cons
-
You can only buy coins
How can I withdraw from my account?
If you open an IRA, the tax code limits your ability to withdraw from the account. You cannot take money out of the account until you turn 59½. Any withdrawals before that age incur a 10% penalty in addition to any taxes you owe.
When it does come time to withdraw money from your account at Orion Metal Exchange, you have a few options.
One is to have the company sell your metals and deposit the cash to your bank account. If you need money to spend, this is the simplest option available.
If you’d like to keep holding your metals, you can have the company work with your storage facility to ship them to your home. Once the coins are in your possession, you’re free to do what you want with them.
Where to find Orion Metal Exchange alternatives
Orion Metal Exchange helps customers invest in precious metals and open precious metals IRAs, but they’re just one of many precious metals investment industry players.
Before you open an account, you should take some time to compare your options to find the best one for your needs. If you’re interested in investing in precious metals, our guide to gold IRA companies is a good place to start.
How we rated Orion Metal Exchange
Our rating for Orion Metal Exchange was determined by reviewing our partners based on several factors. These factors included BBB rating, Trustpilot rating, annual fees, educational resources, customer support, and collection of precious metal coins and bars.
Once a score was assigned, we then identified where each company stood out amongst its competitors to create our picks for what each company was the best for.
Ready to open an account with Orion Metal Exchange? Visit its website.
- BBB rating: A+
- Annual fee: $150 for accounts under $200,000; $225 for those above $200,000
- Sells precious metals? Yes