Investing in my retirement has always scared me. I was always afraid I would lose my money and be working forever. Have you ever felt like that? I knew I had to do something, so I started looking around online.
Finally, I found Monex. I am relieved because my retirement is no longer an issue. Once I understood the importance and security of investing in precious metals, the next step was easy.
What is Monex?
Monex offered me a lot of different precious metals including coins and bars. I do want to mention some of Monex’s products are unable to be stored through an IRA. You can receive discounted pricing through the Atlas Account program.
You can invest in gold, platinum, silver and palladium coins and bars. The history of Monex is excellent. During my research, I discovered the company has been conducting business in precious metals including gold for more than 50 years.
I admit I was very impressed when I read the statistics for Monex. According to the official company website, Monex has completed client transactions valued at over $55 billion since becoming established.
The company was originally founded during the beginning of the 1970s. The company was incorporated in 1987. The official website states Monex is the premier dealer for precious metals in the United States.
The company reputation was established because Monex made a strong commitment to do everything possible to ensure the satisfaction of their customers. The representatives I contacted were straightforward, professional, knowledgeable and friendly.
I found the company unique due to many of its statistics. Approximately 80 percent of all transactions are currently coming from repeat clients. This is because Monex is a legitimate and reputable company.
Roughly 25 percent of the company’s new clients are referrals from their customer base. I have been running my own business for several decades. I know from experience only highly satisfied customers will offer referrals.
Monex believes in educating its clients. For this reason, a video library is available for all current and potential clients. I found this one of several great incentives for opening an account with Monex.
I was also informed if I purchased 20 gold coins weighting one-ounce I would receive an American Eagle gold coin weighing one-tenth of an ounce for free. As you can imagine, I was delighted.
Monex is based in Newport Beach, California. The large staff is professional, dedicated, and extremely knowledgeable about precious metals. I received a well-informed answer to every question I had.
Monex works hard to procure the best possible prices for precious metals. The staff is proud to provide some of the best customer services I have ever received. After looking at several other companies, I found Monex’s prices very competitive.
Monex is essentially an investment firm. The Carabini’s have owned the company since 1973. Monex is currently being managed by Christina, Michael and Louis Carabini. I believed you will be just as impressed with this family business as I was.
The company is currently operated by three generations of the family. The Carabini’s have believed in maintaining an exceptional level of service from day one. Louis Carabini was involved with investments in precious metals long before Monex.
He initially started trading in silver coins pre-1965 and gold coins pre-1933. At this point in time, the business was named the Pacific Coast Coin Exchange. As you know, the company name is now Monex.
Monex has become one of the most long-standing and trusted gold dealers in the country. As time passed, the company expanded. Monex now handles additional firms including the Monex Deposit Company and the Monex Credit Company.
Prior to deciding whether or not to make an investment, I researched the Monex pro’s and cons regarding products. The only real con was I discovered just how much I did not know. Fortunately, the company was happy to explain everything to me.
The representative explained the company offered a full line of precious metals including bar and coin form. I was told right up front some of these products could not be included in a Gold IRA account. I appreciated the honesty.
If you become a member of the Monex Atlas program, you will be offered a preferred client arrangement at a discounted price. You will also be offered a good investment in precious metals.
If you look at one of the special pages on the Monex website, you will find the live prices of precious metals currently available. You do need to understand the company is not an IRA custodian.
Reputable IRA custodian firms are able to offer retirement accounts as a third-party due to partnerships with Monex. The company will be happy to give you the names of these companies if you ask.
Some of these companies offer a sliding scale annual fee, while others offer flat-rate fees. If you have a preference, I recommend talking to one of the representatives at Monex. You will also find a lot of extremely helpful pages on the official website.
I found the Precious Metals IRA page especially informative. The page explained everything I needed to know about opening an IRA with the company. I learned Monex has established partnerships with numerous IRA custodians.
The IRA company Monex recommended was based on my specific needs and investment goals. I strongly recommend you take the time to look at the video library. Monex wants you to be well-educated.
The video page offers a video library explaining why precious metals are such a great investment. I found the interviews, news stories, authors and commentators both interesting and helpful.
The How to Buy page is exceptional. You will be shown how to place an order, the details of your delivery and how to store the precious metals you decide to purchase. The selection of products is exceptional.
You can choose from investments including platinum, gold, palladium and silver. Silver or gold ingots created with a bullion cast are also an option. I liked the coins that had a currency value.
You can choose from three different forms of gold bullion. This includes a .995 pure 10-ounce gold bullion, a .999 pure gold kilobar with 32.15 troy ounces, and a .9999 pure gold bullion ingot weighing ten-ounces.
There are four available sizes of Gold Vienna Philharmonic coins. The one-ounce coin has a thickness of 2mm, and the diameter is 37mm. The half-ounce coin has a thickness of 1.6mm and a diameter of 28mm.
The quarter-ounce coin has a thickness of 1.20mm, and the diameter is 22mm. Your final option is a ten-ounce coin with a thickness of 1.20mm, and a diameter of 16mm. The Gold American Eagle also offers four different denominations and sizes.
These options are a one-ounce coin with a thickness of 2.87mm, a diameter of 32.7 and a face value of $50. The half-ounce gold coin has a thickness of 2.15mm, and a diameter of 27mm.
The quarter-ounce coin has a thickness of 1.78mm, and a diameter of 22mm. Finally, the tenth-ounce coin has a thickness of 1.26mm, with a diameter of 16.5mm. There are options for Canadian Maple Leaf coins in fractional sizes.
The half-ounce coin has a thickness of 2.23mm, a Canadian face value of $10, and a diameter of 25mm. The quarter-troy ounce coin has a Canadian face value of $10, a thickness of 1.78mm, and a diameter of 20mm.
The tenth-ounce coin has a Canadian value of $5, a thickness of 1.13mm and a diameter of 16mm. The 22-karat South African krugerrand coin is available with a weight of 33.930 grams, the thickness is 2.74mm, and the diameter is 32.6mm.
You can purchase 100 and 1,000-ounce bars of .999 silver bullion. Silver Vienna Philharmonics coins are available with a weight of one-ounce. Silver Canadian Maple Leaf coins are available with a thickness of 3.87mm, and a diameter of 38mm.
The front side of the coin features Queen Elizabeth II. The symbol of the national maple leaf of Canada is featured on the back. The Silver American Eagle coins have a weight of one-ounce.
The United States Coin Bag is offered in your choice of 40 percent silver or 90 percent silver. If you are confused at this point, I want you to relax because I was too. I had very little understanding of bullion, coins and bars at this point.
Once you speak to a Monex representative, everything becomes clear. I admit I am far from an expert on precious metals, but I now understand enough where I was able to make an educated and knowledgeable investment.
Benefits of Monex
I encourage you to visit the official Monex website. The information there explains a lot about making an investment in precious metals. You will also learn how you can preserve your wealth just by opening an IRA account.
If you decide to invest in an IRA account, you can choose your IRA firm. This means you will be supported by a firm meeting all of your specific needs and goals. If you become confused at any point, you always have the ability to talk to Montex.
I also recommend asking about the Atlas Account program. This is an excellent way to ensure you can receive discounted prices. I found this program both very powerful and extremely unique.
I decided to become a member because I liked the idea of obtaining discounts, security and independent storage. I have never regretted my decision. Montex will explain all the processes involved including ordering, receiving and storing your precious metals.
One of the things I felt set Montex apart from the competition also gained my confidence. I was thrilled with the Gold IRA Rollover Kit. What made it even better is the kit is complimentary.
My kit contained a copy of Forbes magazine where Monex was featured in 2014. a Federal Reserve documentary, and a lot of information regarding the Gold IRA market. Based on my research, Montex offers the most generous and comprehensive kit anywhere.
No matter what angle I used to look at other companies, the advantages of Montex always seemed to come out on top. After a short period of time, I knew this was the company I was going to use to secure my retirement.
Monex Fees and Pricing
If you visit the Montex website, you can see live pricing. If your investment is in bullion, you can easily see if the value is increasing or decreasing. A chart is used for each commodity with a comparison between current and previous pricing.
This is how I determined the value fluctuations. I found the pricing accurate and updated. I had no difficulty determining the differences in pricing from just the day before.
Even though I was unable to determine the fees on the official Monex website, I decided to ask one of the representatives. I learned the fees are dependant on your investment.
Once I decided exactly what I wanted to do, all of the Monex fees were explained to me in detail. I found them to be very reasonable for the products and services I was receiving.
Monex Pro’s and Cons
• Monex offers an educational video library
• Excellent information is available on the official Monex website
• The founder has more than 50 years of experience in the industry
• The Atlas Account program
• You can choose from gold, silver, platinum, and palladium
• The Montex rating from the BBB is A+
• Reputable partnerships
• Monex is not an IRA custodian
• The pricing can be discouraging
• There are some negative reviews
• The third-party custodians are not listed on the Montex website
The Final Verdict
There are a lot of benefits when you make an investment with Montex. This includes a great product selection, partnerships established with reputable IRA custodians, good customer service and excellent ratings with several authority websites.
If you are concerned about your retirement, I recommend contacting Monex as soon as you can. I believe you will feel safe making an investment with this company. You can be assured all of your questions will be answered to your satisfaction.