Monex Review

Monex Precious Metals is an established precious metals dealer for investors who want hands-on investing support.

While Monex offers transparent pricing, it garnered a less-than-stellar reputation for its margin investing program.

This Monex review breaks down everything you need to know to decide if it’s the right fit for you.

The Verdict for Monex

I’ve given them a rating of 6.7 out of 10.

Monex is a precious metals dealer with more than 50 years of experience. The company offers transparent pricing on a variety of investment-grade products.

While thousands of customers have reported a positive experience, Monex recently paid restitution after defrauding customers.

Before purchasing gold from Monex to add to your portfolio, learn more about what the company has to offer.

Category	Rating (out of 10)
Product Offerings	8
Pricing & Fees	6
Security & Insurance	8
Customer Experience	7
Shipping & Delivery	8
Partnerships & Affiliations	5
Reputation & Reviews	5
Overall Rating	6.7

In this review of Monex, I’ve followed GIC’s detailed criteria for evaluating a precious metals dealer.

About Monex Precious Metals

Monex Precious Metals was founded by Louis Carabini in 1967 and is one of the oldest and most recognizable names in the U.S. gold and silver market.

Monex has grown into a household name among more conservative investors and has facilitated more than $70 billion in client transactions.

Monex was founded during a period of time when private ownership of precious metals was restricted.

The company’s mission is to help individuals preserve their wealth through the ownership of tangible assets like gold, silver, platinum, and palladium.

Doing so provides investors with long-term financial security and allows them to hedge against inflation and economic uncertainty.

Monex is headquartered in Newport Beach, California. It operates under the leadership of Michael Carabini, the founder’s son.

Carabini has been instrumental in maintaining Monex’s focus on education, customer service, and access to physical metals for individual investors.

The leadership team brings decades of combined experience in bullion trading and economic forecasting.

Monex is registered with the Better Business Bureau as Monex Deposit Company. The company has an A+ rating, but is not accredited.

The company does not disclose its affiliation with industry organizations.

Product Offerings

Monex Precious Metals offers a broad range of bullion products for investors interested in gold, silver, platinum, and palladium.

The company sells both coins and bars, with investment-grade products designed to appeal to conservative investors focused on long-term wealth preservation.

Some of Monex’s gold and silver offerings include:

• Gold and silver American Eagle coins 
• Gold and silver Canadian Maple leaf coins 
• Gold  American Buffalo Coins
• Gold and silver South African Krugerrand coins
• Gold and silver Austrian Philharmonic coins
• Gold Australian Kangaroo coins
• Silver British Britannia coins

Monex also offers platinum and palladium coins and bars for investors who want to diversify further. Availability of these products varies based on market availability.

Products sold by Monex meet the purity standards required for inclusion in a precious metals IRA:

• Gold: 99.9% or 99.99% fine gold
• Silver: 99.9% purity or higher
• Platinum and Palladium: 99.95% purity

The company emphasizes investment-grade products sourced from both government and private mints.

However, it does not specialize in rare or numismatic coins. Monex lists standard and spot prices on its website but it does not list availability.

Call and speak to a representative to confirm availability before placing an order.

Pricing & Fees

Monex Precious Metals uses a real-time pricing model based on live market rates.

Prices include a dealer premium which can vary by product type and payment method. Monex is transparent, listing live prices on its website. 

The company accepts several different payment methods, including:

• Bank Wire Transfer
• Personal Check
• Cashier’s Check
• Certified Funds
• Credit Card
• Debit Card
  

Monex provides volume-based pricing for cash and credit payments. Wire and overnight checks are considered cash payments and receive a 4% discount. 

Coins are sold with minimum quantities of 10 or 20, depending on weight. The company does not have a stated minimum order requirement on its website. 

Shipping and insurance are included. Orders are fully insured during transit.

Monex allows you to sell back your precious metals but their process isn’t transparent. To initiate a buyback, call a Monex representative.

They’ll walk you through the process.  If you decide to sell, ship your products to Monex. You’ll be notified how much you’re eligible to earn once Monex verifies receipt of your shipment.

Security & Insurance

Monex Precious Metals prioritizes both digital security and the safe delivery of physical metals.

All online transactions are protected with industry-standard SSL encryption to secure sensitive data during checkout and communication.

The company’s website is updated and monitored for potential vulnerabilities.

All Monex shipments are fully insured during transit. Packages are shipped in discreet, unmarked boxes to reduce the risk of theft.

Insurance coverage protects against loss or damage from the time the metals leave Monex’s facility until they arrive at the customer’s designated address.

Investors can request signature upon delivery as an additional layer of security.

For investors storing metals in an IRA, Monex works with approved custodians and depositories that meet IRS requirements.

Storage facilities are equipped with 24/7 surveillance, controlled access, and usually provide comprehensive insurance coverage.

Monex does not publicly disclose whether it offers two-factor authentication for account access or details of its data privacy policy.

Customer Experience

Monex Precious Metals serves clients nationwide. Investors can contact Monex by calling 1 (800) 444-8317 during regular business hours, Monday through Friday 5:30 am to 4:30 pm Pacific Time.

Alternatively, you can submit questions via the contact form on the company’s website.

Monex is known for an advisor-led approach to precious metals investing. Investors work directly with a knowledgeable account representative who provides personalized service.

Representatives explain market trends and walk investors through each transaction.

The company’s hands-on customer support model appeals to more traditional investors who prefer human guidance.

The Monex website provides basic information about the products the company offers, market prices, and how to buy precious metals. It doesn’t allow you to filter products or compare prices.

Monex offers apps on the App Store and Google Play. The Monex Bullion Investor app has a 3.5-star rating from 72 customers on the App Store and a 4.0-star rating from 203 customers on Google Play. 

The company provides informational articles and live price charts on its website. It offers several special Market Outlook guides, but it does not offer educational webinars or planning tools like an investment calculator. 

Monex does not currently offer a loyalty program or discounts for repeat customers.

Shipping & Delivery

Monex Precious Metals orders are shipped via UPS or USPS. Once the order is transferred to the carrier, customers can expect to receive a tracking number within 24-48 hours.

Monex does not publicly disclose a standard shipping fee schedule on its website. Shipping and handling costs are included in the quoted price at the time of purchase.

Call to confirm with an account representative before placing an order.

All packages are shipped in discreet, unmarked boxes to protect the contents and reduce the risk of theft.

Every shipment is fully insured while in transit, covering the value of the contents in case of loss or damage. To reduce the risk of theft, request a signature upon delivery.

Delivery times vary depending on the destination and how quickly payment clears. Most orders arrive within one to two weeks after payment is finalized.

Monex representatives provide customers with estimated delivery windows during the ordering process and are available to address any concerns that may arise during shipment.

Partnerships & Affiliations

Monex Precious Metals has been a long-standing name in the bullion industry for the last 50 years.

Monex does not publicly disclose industry affiliations or seek out endorsements.

The company relies on the reputation it has established through existing customer relationships.

Reputation & Reviews

While Monex Precious Metals has decades of experience in the industry, it has a mixed reputation among investors.

It has a 1-star rating from two customer reviews on the BBB and is not affiliated.

The company has a 3.4-star rating from 25 reviews on Google and a 4.9-star rating from 3,628 customers on Trustpilot.

Most customers report timely shipments, competitive pricing, and professionalism from account representatives.

Some report lost packages and complain about not receiving confirmation of orders placed with the company.

Many customer complaints are in regard to the company’s now-defunct Atlas program. This allowed customers to speculate on prices by purchasing precious metals on margin.

The Commodity Futures Trading Commission found the program to be fraudulent and ordered the company to pay restitution to the investors it defrauded.

Monex maintains a social media presence on Facebook, X, LinkedIn, and YouTube.

Monex Alternatives

Monex offers investors a hands-on approach to adding gold to their portfolios, but it isn’t the only dealer to purchase precious metals from.

Here are a few others to consider.

Goldco

Goldco offers a large variety of gold and precious metals to purchase.

Get access to their free gold and silver kit

APMEX

APMEX has been a top precious metals dealer for more than two decades.

It’s ideal for investors who want to purchase precious metals directly online for an affordable price.

JM Bullion

JM Bullion offers competitive pricing and a user-friendly platform, making it ideal for investors who want to invest consistently.

Is Monex a legit precious metals dealer?

Monex is a legitimate precious metals dealer with more than 50 years of experience in the industry.

It’s known for offering an advisor-led approach to precious metals investing and has facilitated billions in client transactions.

The company is ideal for investors who prefer direct service and guidance from knowledgeable account representatives.

Monex is not accredited by the BBB and has received mixed reviews as a result of a previous offering that defrauded customers. 

If you value one-on-one service and are looking for a more traditional approach to precious metals investing, Monex may be worth considering.

Speak with a Monex representative to learn more about their offerings and decide if it aligns with your investment strategy.

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