Pacific Precious Metals is a bullion dealer with a decent online presence. However, they lack transparency regarding their fees which can be a huge disappointment for many investors. Also, they don't offer any Platinum or Palladium products.
What is Pacific Precious Metals?Pacific Precious Metals Locations, Timings, Email, Phone, Services
Pacific Precious Metals (PPM) is a precious metals dealer in Northern California. It specialises in the management of gold and silver IRAs for American investors.
It collects gold and silver from a variety of sources, including the United States and Canada.
The company also specialises in the strategic buying and selling of precious metals and optimises the proportion of minted coins to bullion to provide the best profits to its customers.
Pacific Precious Metals combines a bullion store, a gold jewellery business, and a precious metals IRA company. This may appear to be too much for a single company to handle, but based on reviews, we’d say they’re doing a decent job.
Even more impressive is the fact that they offer additional services like assaying. While this is not unusual for a jeweller, it is not something you should expect from your IRA provider or even a bullion merchant.
They update the spot prices every minute, and their pricing is always transparent. They now have three locations in the San Francisco Bay Area and are planning to expand.
Address: Sausalito, California, United States
People Behind Pacific Precious Metals: CEO, Owner, Co-Founders & MoreWho owns Pacific Precious Metals? What is the management team behind Pacific Precious Metals?
The website of Pacific Precious Metals contains no information about its team members, including the CEO and Founder. After looking deeper, we discovered only two team members, Dan Barett, who is a Part Owner, and Preston Reppond, who is a manager at this company.
Dan Barrett: Part Owner
Dan Barrett is a part owner of Pacific Precious Metals and founder of Plutus Software Inc, which produces and distributes software for the bullion, coin, and collectable industries. In 2012, he joined the firm, bringing his total years to 13.
Dan formerly worked as a consultant at Petronor Group and as an analyst at Bellman Walter Capital. He received his B.Sc.M.E in Mechanical Engineering from the University of Texas and his MBA in Finance from the University of Chicago.
Preston Reppond: Manager
Preston Reppond is a Manager at Pacific Precious Metals. He joined the firm in 2020 as a business development associate, and after a year, he was promoted to Manager. He formerly worked as an Outreach Specialist at Words Over SeasWords. Preston claims to be proficient in four languages and to be able to hold competent conversations in several more, including Russian, Mandarin, and Persian.
Pacific Precious Metals Products: Bullion Coins, Bars, And Rare CoinsAll products offered by Pacific Precious Metals
Pacific Precious Metals provides a variety of products, including gold and silver IRA options and general precious metals acquisition. They focus on allowing customers to buy and invest in numerous precious metal options.
The company offers 632 gold coin goods, including all IRA-eligible coins, antiquities, and other collectables. Their gold bullion category is far too pricey to list separately.
Furthermore, the company provides 214 gold bar items in various values from 10 different mints, including popular private and sovereign selections as well as some lesser-known but highly sought-after options.
In addition, they provide 18 different gold rounds in varying denominations from various leading private mints. This could be the most remarkable collection of gold products from a single firm.
Beware of Gold IRA scams. Recently several scams have been charged by the authorities. Companies such as Regal Assets, Safeguard Metals and Red Rock Secured defrauded hundereds of retirees like you and me. I strongly suggest you learn how to identify gold IRA scams. You can request a free guide using the button below:
Pacific Precious Metals has a large collection of silver bullion coins, including alternatives from renowned sovereign mints. They have 335 goods in the Australian category alone, totalling 587 individually listed silver coins.
Furthermore, over ten mints have manufactured silver bars, resulting in a total inventory of 136 goods, but some from a few mints are currently unavailable. Furthermore, there are currently 18 distinct silver rounds to choose from.
Pacific precious metals claim to specialise in assaying to help prevent being deceived when selling precious metal objects, particularly jewellery. Smaller stores may lower the item’s value to get a better offer.
How to Invest in Pacific Precious Metals IRA?Step-by-step guide for investing in Pacific Precious Metals IRA
To invest in a Bullion Exchanges IRA, follow these general steps:
Open a Self-Directed IRA Account: Fill out an IRA form to open a self-directed IRA account with one of their trusted custodian partners. You’ll also need to choose an IRA-approved storage facility for your precious metals.
Fund Your IRA Account: Once your self-directed IRA account is set up, work with your custodian to fund your account with cash, rollover funds, or a combination of both.
Choose Your Precious Metals Products: Pacific Precious Metals offers a selection of IRA-approved precious metals products, including gold, silver, platinum, and palladium coins and bars. Choose the products you want to invest in.
Place Your Order: Place your order with them for the selected precious metals products. You’ll receive a quote with the total cost of your order, including applicable fees.
Direct Your Custodian to Make the Purchase: After placing your order, you’ll need to direct your custodian to make the purchase on your behalf. Your custodian will provide you with the necessary paperwork to complete this step.
Store Your Precious Metals: Once your purchase is complete, Pacific Precious Metals will ship your precious metal products to your chosen IRA-approved storage facility for safekeeping.
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 of 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.
Learn More About Gold IRA
If you’re interested in learning how a gold IRA works, check out this free guide below:
Pacific Precious Metals Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
The company does not provide sufficient information about fees & charges. However, they state that they don’t provide free delivery, and the rates vary according to the value of the item. Despite the additional cost, they ensure safe and timely transportation of their items.
The cost of shipping Pacific Precious Metals items can vary based on the value of your order. Most items cost between $15 and $40, although you can pay more for faster shipping options. It is critical that when acquiring precious metals from this company, all associated fees are considered when computing total expenses.
Cashier’s checks, wire transfers, personal checks, and cash are all accepted. They do not accept cash over $10,000. Personal checks and cashier checks can be dropped off at their storefront, mailed, or deposited directly into the company’s customer-dedicated incoming payment bank account.
Market Loss Policy
According to the website, Any deficit between the price at which the company sold to you and the offsetting purchase price is your responsibility solely if the items are cancelled or returned. You will be charged that amount plus a $95.00 cancellation fee.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. Pacific Precious Metals on the other hand provides fewer options.
Pacific Precious Metals Reviews and Complaints: BBB, Trustpilot, Sitejabber Read all the Pacific Precious Metals reviews & complaints on Pacific Precious Metals
Better Business Bureau (BBB)
Despite being in business for more than 12 years, Pacific Precious Metals has received zero consumer reviews on the Better Business Bureau (BBB) website. A client has also issued a complaint against the company. Since 2011, the company has been accredited by the Better Business Bureau.
Pacific Precious Metals has received #1 complaints on BBB
Pacific Precious Metals 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.
Pacific Precious Metals has a 4.5-star rating on Yelp, based on 48 customer reviews. The majority of customer reviews are positive, praising the product and services.
The company has a 4.8-star rating out of 5 on Google based on various customer reviews. Customers praised the customer service and highlighted how quick the delivery was.
Aside from the rating platforms mentioned above, the company has no ratings or reviews on Trustpilot, Trustlink, Sitejabber, or BCA, which is not a positive sign for prospective clients.
#1. A satisfied customer stated that he has purchased items from Pacific Precious Metals several times and their team has always been professional, well-informed and friendly. The customer also praised an employee named Anaga, adding she is highly professional and a pleasure to do business with.
#2. A customer stated that Pacific Precious Metals is his preferred metals dealer in the Bay Area. The Cupertino showroom is small and secure, allowing for privacy and attention. He also suggested calling before time to guarantee appointment availability and to confirm inventory if you’re seeking something special.
Furthermore, he stated that when it comes to brokers, he always chooses to work with Todd Stagnaro, a manager at PPM, since he is incredibly competent, works relentlessly to perform, and establishes a meaningful business relationship. Todd has always been patient in answering inquiries and advising the customer over the three years he has been working with PPM.
#3. Another satisfied customer shared his experience, stating that he recently purchased gold from PPM. He dealt with Anagha there, and the assistance and support he received from her were exceptional. She was really polite and helpful in guiding him on which products to get for his needs. The customer also said that he was in a hurry to receive his products, so she made sure that they were dispatched as soon as possible.
#1. A dissatisfied customer disclosed his experiences, stating that he found this company via the Internet and expected an excellent buying experience. But that did not happen; instead, he faced serious problems with the business. To begin, he discovered issues with their website, and customers are unable to cancel orders once the items are in the cart.
The customer then went to their office, where the salesperson treated him like trash; they were not at all professional. He mistakenly got into a binding legal arrangement through an internet order, which turned out to be a major problem. At last, he said that when we acquire bullion from any company, we put our trust in them, but Pacific Precious Metals is not one of them.
#2. Another customer had a negative experience with this company. She claimed that a PPM representative treated her harshly because she did not have much money, thus they treated her very disrespectfully. The client said, “Anyone who walks through your doors, no matter how big or small, should be treated respectfully.”
#3. Another customer expressed his dissatisfaction with Pacific Precious Metals’ gold item, saying that the product is not something else than Gold.
Is Pacific Precious Metals Legit? Should You Invest With Them?Is Pacific Precious Metals a scam or legit? Are they worth it?
No, I don’t recommend investing with them.
Decent product selection
A+ rating on BBB
Platinum & Palladium are not available
Lack of transparency
No free shipping
No reviews & ratings on the Trustpilot platform
Pacific Precious Metals is a reputable firm; they are not a scam, and they have served customers for many years; nonetheless, we do not recommend them since they are not the best option for individual purchases of gold and silver.
The lack of transparency on its website about its team members, along with the company’s lack of an established online presence, raises concerns about the company’s trustworthiness.
They are also not the best option for investors looking to safeguard their capital from the ravages of inflation with a precious metals IRA.
Each state has its own regulations and rules, so we’ve sorted and found the best Gold IRA company for each state.