First Fidelity Reserve is a bullion dealer with a decent product selection. However, it has received numerous complaints about having deceptive business practices. Furthermore, it has a very limited online presence.
What is First Fidelity Reserve?First Fidelity Reserve Locations, Timings, Email, Phone, Services
First Fidelity Reserve is a precious metals company that allows customers to purchase and sell gold, silver, and rare coins. The company has been in business for over 25 years and offers not only stellar support but also a wealth of articles and educational materials to help customers acquire confidence and a solid knowledge base before investing.
The First Fidelity Reserve Company was founded in 1988 in Beaumont, Texas. It built a distinct niche for itself by differentiating by specializing in specific precious metals and coins.
This allows clients to concentrate on a long-term investment plan that has shown to be successful. The company, for example, specializes in rare and authenticated US coins such as the historic $3 Indian Princess and other well-known designs.
The company has served tens of thousands of Americans interested in purchasing rare and precious coins since its inception. Because of the numismatic professionals on staff, the tightly focused approach delivers the support clients require.
While First Fidelity has been in business for over two decades, it has kept up with technological advances by connecting to online trading networks and employing advanced methods for bidding and purchasing products.
As a result, the rates offered to clients are exceedingly competitive, and acquisition occurs quickly. Furthermore, in the last seven years, the team has more than doubled in order to deliver the greatest service to a growing client base.
Address: 130 Shakespeare Dr, Beaumont, TX 77706, United States Phone: +1 800-336-1630 Email: info@FirstfidelityReserve.com Website: www.firstfidelityreserve.com
People Behind First Fidelity Reserve: CEO, Owner, Co-Founders & MoreWho owns First Fidelity Reserve? What is the management team behind First Fidelity Reserve?
The First Fidelity Reserve website provides no information on the company’s Owner, CEO, Founder, or core team. It definitely raises concerns about the company’s legitimacy because customers are unable to know who and how First Fidelity Reserve operates or who manages the company.
However, after inspecting the web, we discovered only one gold expert, Apart from that, no detailed information is available about any employee.
First Fidelity Reserve’s Gold Expert
Dr Michael Fuljenz has received over 60 awards for his expertise in rare coins and precious metals, as well as consumer education and protection.
He is passionate about this industry, and it shows in his commitment to providing clients with extensive and great instructional materials, as well as strategic advice and achieving the best available offers.
Dr Michael has also worked as a consultant for the Federal Trade Commission, the United States and Royal Canadian Mints, and a number of other organizations.
He is not only well-known for his knowledge of precious metals and rare coins, but he is also a recognized community leader in Beaumont, Texas.
First Fidelity Reserve Products: Bullion Coins, Bars, And Rare CoinsAll products offered by First Fidelity Reserve
First Fidelity Reserve offers a diverse range of products to match its valued clients’ diverse needs and preferences. They seek to provide significant insights to customers as they create and expand their financial portfolios as seasoned professionals with a friendly approach.
Their product line includes high-quality bullion items such as American Gold & Silver Eagles and Canadian Maple Leafs, as well as an excellent collection of certified rare coins.
Their knowledgeable numismatists also select collections of historic and rare coins, ensuring that their offers are both an investment and a chance to acquire a piece of history.
American Gold and Silver Eagles
Collectors and investors both value the American Gold and Silver Eagles available at First Fidelity Reserve as exceptional assets that preserve their inherent value and unmatched beauty.
The United States Mint expertly created these valuable coins, which include exquisite representations of Lady Liberty, symbolising freedom and opportunity, and the majestic American Eagle, representing power and togetherness.
They embody the extraordinary quality and craftsmanship that clients have come to associate with First Fidelity Reserve.
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The Canadian Maple Leaf coin, offered by First Fidelity Reserve, has long fascinated collectors and investors alike with its unparalleled purity, elegance, and craftsmanship. This exceptional gold coin displays an exquisite design honouring the maple leaf, an iconic and cherished symbol of Canadian pride.
The Canadian Maple Leaf coin, expertly struck by the famous Royal Canadian Mint, offers the ideal synthesis of artistry and gold bullion value, making it a cherished addition to any collection or investment portfolio.
First Fidelity Reserve, noted for its friendly and professional service, takes delight in providing clients with access to this amazing coin, ensuring the greatest quality and authenticity in this highly sought-after piece of numismatic history.
Historical and Rare Coins
Exploring the historical and rare coins available at First Fidelity Reserve allows collectors and enthusiasts to learn about the intriguing history of currency. These remarkable pieces tell the narrative of key historical events and provide fascinating peeks into the past.
Collecting such artefacts is a passion for keeping and cherishing ancestors’ past, and First Fidelity Reserve is the ideal curator for people who want to explore this fascinating area of history.
How to Invest in First Fidelity Reserve IRA?Step-by-step guide for investing in First Fidelity Reserve IRA
Time needed: 15 days
To invest in a precious metals IRA through First Fidelity Reserve, here are the general steps:
Open a Self-Directed IRA
Select an IRA company that handles opening precious metals IRA accounts and fill out an application. You can work with First Fidelity Reserve to recommend an IRA company and provide the necessary paperwork. However, I don’t recommend doing so.
Fund Your IRA
Once you have selected an IRA company, you can move your funds into your new IRA account. You can work with the IRA company representative to transfer or rollover funds into the new account.
Select a Precious Metals Dealer
One of the forms you need to fill out along the way is typically called a Buy Direction Letter. This is where you list the precious metals dealer you have selected, such as First Fidelity Reserve.
Decide Which Precious Metals to Purchase
You can choose to invest in gold, silver, platinum, or palladium for your IRA. There are some restrictions regarding fineness requirements and allowable coin types, so it’s important to get guidance from First Fidelity Reserve in this area.
Place Your Order
Once the funds are available in your IRA account, you can call them to place your order for the desired precious metals.
However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.
Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer in your state and choose accordingly.
Also, the list will help you understand what the industry’s best has to offer and what you might miss out on.
First Fidelity Reserve Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
First Fidelity Reserve provides free shipping on online orders of $199.00 or more. Online orders of $199.00 or less include $9.00 delivery charges. As per its website, the Account opening is free and there is a 3.85% discount if customer pay by check, money order, cashier’s check or wire for online store orders.
They take credit cards. Credit cards are not accepted for online orders over $1,000.00. All credit card transactions are checked and may be subject to additional verification. The company also accepts wire transactions. Customers must provide proper credit card information to the company in order to lock in pricing on their orders.
Furthermore, if a customer is dissatisfied with their purchase, they may return it in its original packaging within 30 days of arrival for a full refund, with the exception of special orders and bullion orders. The 30-day return policy, however, does not apply to bullion or special orders. All cancelled bullion or special order transactions will be subject to their Market Loss Policy, as well as a $30 cancellation fee.
Product pricing varies depending on criteria like total mintage, demand, design, and mint origin. Because of these characteristics, similar products may have varying pricing.
The customer must pay for the transaction within 5 business days of the order date. If payment is not received within 5 business days, the company reserves the right to cancel the order. Transactions include several payment options. Bank cards, checks, and PayPal are a few examples.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. First Fidelity Reserve on the other hand provides fewer options.
First Fidelity Reserve Reviews and Complaints: BBB & GoogleRead all the First Fidelity Reserve reviews & complaints
Better Business Bureau (BBB):
First Fidelity Reserve has an A+ rating and 3 stars out of 5 stars based on 4 customer reviews on the Better Business Bureau website. There are both positive and negative reviews. They’ve been in the business for 35 years. In the last three years, six complaints have been closed. This business is also BBB accredited.
According to user reviews, First Fidelity Reserve received 3.8 stars out of 5 stars on Google. On Google, there are 42 customer reviews, the vast majority of which are positive. Customers, however, have reported a few negative reviews also.
First Fidelity Reserve has received #10+ complaints on Google
First Fidelity Reserve has received several unresolved complaints from customers. There are also several unresolved negative reviews on different platforms. Our #1 rated gold IRA company has ZERO unanswered complaints on BBB.
While First Fidelity Reserve receives mostly positive feedback and an A+ rating from the Better Business Bureau, it also receives some negative reviews. Let’s look at a few of them:
#1. A customer stated his great experience with the company, stating that it was the first time he contacted First Fidelity Reserve through AMAC. He was fortunate to have “Kelly” as his broker. The customer truly thought she was someone he could “TRUST” to advise him on going into purchasing different coins as a method to feel more comfortable in guarding his money.
He went on, “He definitely sees a future in working with Kelly and First Fidelity Reserve, all because of the trust he feels they have developed.” Working with her has given him a “New” hobby to pursue. Finally, he praised Kelly for her time, care, and willingness to work with him.
#2. A consumer appreciated First Fidelity Reserve customer service by sharing her experience. She stated that working with James Looney at First Fidelity is a pleasure. He offers exceptional customer service and has extensive knowledge of precious metals. She said that she is a repeat customer and would continue to do so. Lastly, she highly recommended the company.
#3. A customer purchased a 2018 American Silver Eagle from First Fidelity Reserve’s online site. The online ordering process was simple and straightforward. The buyer also expressed satisfaction with the pricing. The price over the spot wasn’t too bad. Overall, He would definitely try First Fidelity Reserve again.
#4. Another customer mentioned that he has purchased from First Fidelity Reserve numerous times since 2002 and has always had a positive experience. Simple, quick, and easy transaction. Coins are usually good and customer service has always been quick. At last, he stated that their bullion pricing is the best that he is aware of.
#5. A customer expressed his great experience with First Fidelity Reserve, stating that he found First Fidelity Reserve through his AMAC membership. Then he and his wife started by purchasing some silver bullion. He has recently begun collecting rare coins, and he believes he is on the right track. He also praised the customer service, stating that the staff is very knowledgeable and that you can easily reach them via call.
#1. A customer expressed his dissatisfaction, claiming that First Fidelity Reserve is a complete rip-off. He bought several coins from them over the years, and according to an independent appraisal, they are only worth a fraction of what he spent. The customer further stated, the company will not even buy them back for the price he paid for them. He later warned everyone to avoid First Fidelity Reserve!!
#2. A customer placed an order from First Fidelity Reserve, however, it was not shipped for at least two weeks. Every time the customer called, they spoke about a large number of orders. He claims that the true fraud was that the price of his order when ordered was lower than the price he was eventually charged. In the end, he stated that the products are too costly and time-consuming to return in comparison to the price difference.
#3. According to one customer, when you put money into your account, First Fidelity Reserve simply closes your account without explaining why. He further stated that he does not expect to receive his money back in the near future.
#4. A consumer advised everyone to be careful when reaching First Fidelity Reserve. He says they are professional salespeople who will take whatever money you have without any concern.
Snippet of the Complaints on This Company:
On the BBB website, a customer complained about First Fidelity Reserve saying, On March 2023, he placed an order and expected a phone call for confirmation, but he never received one. Every time someone who could have helped him was unavailable. The customer attempted to make calls during open hours during the week. He expressed his dissatisfaction with the lack of service. He said this order was a test to see if this was a trustworthy company. The customer claimed he doesn’t have a lot of faith in this company now.
Is First Fidelity Reserve Legit? Should You Invest With Them?Is First Fidelity Reserve a scam or legit? Are they worth it?
No, I don’t think you should invest with them.
Decent product selection
Lack of transparency about the management
Too many complaints about customer service
No fee-related information is available
Limited online presence
While they are a legitimate company, they are certainly not the best option available for you.
There are plenty of more specialized companies in the industry with a far better reputation.