CBMint Review – A Quick Overview
CBMint is a precious metals dealer based in Plano, Texas. The company has an A+ rating on BBB and a decent product selection. However, they don’t share much information about their leadership or management on their website. Furthermore, they have received complaints for lying to their customers as well.
Pros:
- Decent product selection
- A+ BBB rating
Cons:
- Lack of transparency
- Received complaints for deceptive practices
- No pricing information available on website
What is CBMint?
CBMint is a precious metals broker and Gold IRA company located in Plano, Texas. The company’s mission is to provide customers with the highest level of service possible, and it offers a variety of IRA-approved bullion and collectible coins, as well as a one-ounce bar of rhodium.
CBMint is claims to ensuring its customers are satisfied and has a section of its website dedicated to teaching people about investing in gold. The company strives to offer the best prices for the highest quality products.
People Behind CBMint:
The business started on 10/7/2013 and was incorporated on the same day as a Limited Liability Company (LLC). The principal of the company is Mr. Sante Santhanam Chary, who is also the owner and senior member. The business started locally on 6/21/2015, and since then, Mr. Sante Santhanam Chary has been the main point of contact for customers. As the owner and senior member of the company, Mr. Chary is responsible for managing the business.
If you need to contact the company, you can reach out to Mr. Sante Santhanam Chary, who serves as both the principal and customer contact for the business.
How to Invest in CBMint IRA?
CBMint has partnered with The Entrust Group, one of the most trusted IRA custodians in the United States. To invest in a CBMint IRA, you can follow these steps:
- Contact CBMint: Reach out to CBMint to inquire about their IRA offerings and ask for guidance on how to get started.
- Choose an IRA custodian: If you don’t already have an IRA custodian, CBMint may be able to recommend one to you. It’s important to select a custodian that allows precious metals investments and has a good reputation.
- Open an IRA account: Once you’ve selected an IRA custodian, you’ll need to open an IRA account. Your custodian can help you with this process.
- Fund your account: You’ll need to fund your IRA account with cash, either through a rollover from an existing retirement account or with new contributions.
- Select your precious metals: Once your account is funded, you can select the precious metals you want to invest in. CBMint may have specific requirements or recommendations for the types of metals that can be held in their IRA accounts.
- Purchase and store your precious metals: After selecting your precious metals, you can purchase them through CBMint and have them stored in an approved depository that meets IRS standards for precious metals IRA storage.
It’s important to note that investing in a precious metals IRA involves risks, and it’s essential to do thorough research and consult with a financial advisor before making any investment decisions.
CBMint Products:
CBMint offers a wide range of precious metal products. Including bullion coins, bars, and rounds, as well as rare and collectible coins.
Here are some of the products that CBMint offers:
- Gold coins: CBMint offers a variety of gold coins, including American Gold Eagles, Canadian Gold Maple Leafs, South African Krugerrands, and more.
- Silver coins: CBMint also offers a variety of silver coins. Including American Silver Eagles, Canadian Silver Maple Leafs, and Austrian Silver Philharmonics.
- Platinum coins: For those interested in investing in platinum, CBMint offers coins such as the American Platinum Eagle and the Canadian Platinum Maple Leaf.
- Palladium coins: CBMint provides investors with the option of investing in palladium coins. Which includes the Canadian Palladium Maple Leaf as well as the Australian Palladium Emu.
- Gold bars: The company provides a selection of gold bars from various mints and refiners, such as PAMP Suisse, Valcambi, and Perth Mint.
- Silver bars: Similarly, CBMint offers a range of silver bars. Including those from Sunshine Minting and Johnson Matthey.
- Rhodium bars: For those interested in investing in the rare and valuable metal, rhodium, CBMint provides the option of a one-ounce rhodium bar.
- Rare and collectible coins: CBMint also has a selection of rare and collectible coins. Including pre-1933 US gold coins and other rare coins from around the world.
CBMint also offers jewelry made from precious metals, such as gold, silver, and platinum. They have a range of necklaces, bracelets, rings, and earrings in different styles and designs. It’s important to note that the availability of these products may vary over time. As well as the prices of precious metals can fluctuate based on market conditions.
CBMint Fees and Charges:
CBMint applies various fees depending on the type of product or service being provided. Prices for precious metal products fluctuate depending on market value, supply, and demand. Sales tax is applied to orders shipped to Texas, in accordance with the law. Customers who choose to store their precious metals with CBMint will be subject to monthly or yearly storage fees. Additionally, if you open a Gold IRA with CBMint, fees may be associated with the administration and management of the account. CBMint provides free shipping and insurance for bullion orders delivered to residential addresses in the lower 48 United States. This offer is part of the company’s commitment to providing top-quality products at the lowest possible cost to its customers.
However, shipping costs to other locations such as Alaska, Hawaii, Puerto Rico, Post Office Boxes, and Canada are discussed separately. Customers can review the CBMint website or contact the company directly for more information on shipping costs and delivery options to these locations. It is important to keep in mind that fees and charges can vary based on the product, service, and other factors. To obtain the most accurate and current information on fees and charges, it is recommended to check directly with CBMint or consult their website.
CBMint Reviews and Complaints:
In general, CBMint has received moderate ratings from various websites and organizations. That offer reviews, ratings, and customer complaints about the company. Please see below for some of the ratings provided by different sources.
Better Business Bureau (BBB): CBMint has A+ ratings with 3 stars out of 5 stars in their BBB account. A total of only 4 customers reviewed them on Better Business Bureau. They have 2 closed complaints in the last 3 years. They are in business for 9 years.
More Reviews Below:
According to Levern B, he was extremely pleased with his order as CBMint delivered his 1 oz. Buffalo Coin in a timely manner and assisted him promptly in obtaining what he needed.
According to Eddie T, CB Mint provided exceptional service. Despite ordering from them without any prior knowledge, he initially had concerns about not receiving his order as the goods were on backorder. However, CB Mint kept him informed and even went above and beyond by sourcing the goods from another provider to ensure timely shipment. Eddie T expressed gratitude towards CB Mint for their efforts.
Disabled VET 1 strongly advises against using CBMint, as they claim it to be a fraudulent and dishonest company. After placing an order and completing a wire transfer, the company sent an email confirming the order. However, the next day the wire transfer was sent back to their account, leaving the customer still charged for the wire transfer fee with no response from CBMint. The customer believes that CBMint is illegally utilizing fraudulent business practices and plans to take legal action against the company.
According to Matthew G., CBMint did not fulfill their promises and lied about his order. Matthew placed an order on March 5, 2020, but after a week, it was still pending and had not shipped. When he called CBMint, they assured him it would be shipped the following week. However, a week and a half later, he called again and was told that it had just shipped that morning, but the tracking number was not yet available. CBMint had lied to Matthew about shipping before he called. Although Matthew eventually received his product, he was disappointed with CBMint’s dishonesty and failure to fulfill their promises.
Is CBMint Legit?
CBMint appears to be a legitimate company. It has been in operation since 2013 and is registered as a Limited Liability Company (LLC) in Texas. The company offers a range of precious metal products, has a professional-looking website, and offers secure payment methods.
However, the company has received complaints for following deceptive business practices. Some of their customers have called them liars and frauds.
These are serious allegations and no investor should take them lightly.
It’s always best to do business with a reputed precious metals company and not one which has received such complaints.
Should You Invest with a CBMint?
Investing in precious metals, such as gold and silver, can provide a viable investment option for some investors. CBMint offers a comprehensive range of precious metal products and services, including Gold IRAs, and has a favorable reputation among its customers.
Moreover, the company has received complaints for lying to its customers. It’s very alarming and certainly makes it difficult to trust them.
Nevertheless, like any investment, there are potential risks involved, and it is essential to conduct your research before making any investment decisions.
Before you consider investing with this precious metals company, I suggest checking out my top gold IRA providers. That way, you would know what the industry’s best has to offer.
Investing in precious metals can be quite lucrative for any investor. However, you should invest with an IRA provider that has considerable experience and specialization.
Have you dealt with CBMint? Share your experience below!