What is Texas Precious Metals?Texas Precious Metals Locations, Timings, Email, Phone, Services
Texas Precious Metals is a company based in Shiner, Texas, that specializes in the buying and selling of precious metals, primarily gold, silver, platinum, and palladium. The company was founded in 2011 and has established itself as a reputable dealer in the precious metals industry.
Texas Precious Metals offers a wide range of bullion products, including coins, bars, and rounds, sourced from various mints and refineries around the world. The company caters to both individual investors and institutional clients, providing a platform for them to purchase and store precious metals as a means of wealth preservation and investment diversification.
In addition to their bullion offerings, TPM also provides services such as secure storage facilities, where customers can store their precious metals holdings, and they offer IRA (Individual Retirement Account) services, allowing investors to include precious metals in their retirement portfolios.
- Address: 959 N Us Highway 95 E, Shiner, TX 77984
- Phone: (361)594-3624
- Email: contactus-tpm@texmetals.com
- Website: www.texmetals.com
People Behind Texas Precious Metals: CEO, Owner, Co-Founders & MoreWho owns Texas Precious Metals? What is the management team behind Texas Precious Metals?
The ownership structure of Texas Precious Metals is primarily associated with the Kaspar family. Tarek Saab is the President and co-founder of the company. Jason Kaspar is also the co-founder of the firm and is likely to have an ownership stake in the company, along with other members of the Kaspar family. The specific ownership percentages or details beyond this are not publicly available on its website.
Mr. Tarek Saab: President and Co-Founder
Tarek Saab is recognized as the President of the company, he likely holds a prominent leadership role in its day-to-day operations and strategic direction. He is also known as one of the co-founders of Texas Precious Metals. Unfortunately, detailed information about Tarek Saab’s background, specific contributions, and professional experience is limited.
Mr. Jason Kaspar: Co-Founder
Jason Kaspar has played a vital role in the founding and growth of Texas Precious Metals. He has a deep understanding of the precious metals industry and has been actively involved in the company’s operations. With his expertise and knowledge, Kaspar has helped establish Texas Precious Metals as a reputable dealer in the market.
Texas Precious Metals Products: Bullion Coins, Bars, And Rare CoinsAll products offered by Texas Precious Metals
Texas Precious Metals boasts an extensive inventory encompassing a wide array of precious metal products, focusing on gold, silver, and platinum. Within this diverse selection, there are numerous coins and bars that meet the eligibility criteria for inclusion in a Precious Metals IRA, providing investors with an opportunity to diversify their retirement portfolios.
The IRA-eligible options offer investors a diverse range of choices when adding precious metals to their retirement portfolios. Texas Precious Metals provides access to these and other renowned products, enabling individuals to acquire and hold these assets as part of their long-term investment strategy.
Some notable IRA-eligible options offered by Texas Precious Metals include:
- Austrian Gold Philharmonic: This coin features the iconic image of the Great Organ of the Vienna Musikverein on one side, and a selection of musical instruments on the other.
- American Gold Buffalo: The American Gold Buffalo coin showcases the iconic design of the Native Americans and buffalo, paying homage to the historic Buffalo Nickel.
- Australian Gold Kangaroo: The Australian Gold Kangaroo features an ever-changing image of the kangaroo, one of Australia’s most recognizable symbols.
- Gold Canadian Maple Leaf: The Gold Canadian Maple Leaf coin is adorned with the iconic maple leaf design, a symbol of Canadian identity.
- American Platinum Eagle: This coin is prized for its platinum content and showcases patriotic designs representing American values and heritage.
- American Gold and Silver Eagle: The coin features Lady Liberty on the obverse and a depiction of a family of eagles on the reverse. The American Silver Eagle coin displays Walking Liberty on the obverse and a heraldic eagle on the reverse.
- Canadian Platinum Maple Leaf: This coin showcases the elegant image of Queen Elizabeth II on one side, and a maple leaf design on the other.
- Canadian Silver Pronghorn Antelope: This coin highlights the pronghorn antelope, a distinctive North American species, on its reverse side.
- Canadian Silver Maple Leaf: The coin is renowned for its exceptional purity and features the iconic maple leaf design.
- Silver Britannia: The Silver Britannia coin showcases the image of Britannia, an embodiment of British national pride and strength.
How to Invest in Texas Precious Metals IRA?Step-by-step guide for investing in Texas Precious Metals IRA
To invest in a precious metals IRA through Texas Precious Metals, 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 Texas Precious Metals 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 roll over 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 Texas Precious Metals.
- 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 getting guidance from Texas Precious Metals in this area is essential.
- Place Your Order
Once the funds are available in your IRA account, you can call them to order 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 significant 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.
Texas Precious Metals Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
We have found that there is a lack of detailed information regarding fees and markups on Texas Precious Metals’ website, which can be disappointing. However, the company does mention working with various custodians, including Goldstar Trust Company, Preferred Trust Company, and Kingdom Trust.
Custodial and storage fees for gold and silver IRAs typically range between $180 and $250 per year, but without more specific information, it is challenging to provide precise details about the fees charged by Texas Precious Metals. However, based on a general overview of their product prices, their pricing appears competitive.
Texas Precious Metals offers a buy-back option for customers to sell their holdings back to the company. The buy-back price is published on each product page, and the company buys back what it did not sell.
Selling and Shipping Process:
The selling process is straightforward and involves calling the company during business hours to lock in the selling price. Customers are then required to ship the precious metals bullion to the company within 24 hours. While the company offers door-to-door pick-up and delivery services, customers also have the option to select their own shipping and insurance provider. It’s important to note that for the company’s shipping services, there may be a specific cost for sales above $1,000.
After the shipment is received, the company emails the client for overnight shipment and ensures delivery is made the next day. Texas Precious Metals operates on the principle of only selling what is available in their stock, unlike many dealers who advertise products they do not have. This guarantees immediate shipment since the company has the items ready for delivery.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. Texas Precious Metals on the other hand provides fewer options.
>>>Get in touch with the #1 rated gold IRA company of 2023<<<
Texas Precious Metals Reviews and Complaints: BBB, Trustpilot, SitejabberRead all the Texas Precious Metals reviews & complaints
Better Business Bureau (BBB):
On the Better Business Bureau website, Texas Precious Metals has an A+ rating. They are since 18 years in the industry. The business has no customer reviews on this website. Only 1 complaint has been filed or closed in the last 3 years. This business is BBB accredited.
Business Consumer Alliance (BCA):
On BCA, Texas Precious Metals has no star ratings. A total of 1,027 inquiries have been filed by its customers. The company has also no customer ratings. There, they have a AA company rating.
Yelp:
On Yelp, Texas Precious Metals has 4.5 stars out of 5-star ratings based on 25 customer reviews. The reviews are mostly positive. The customer praised their services and products. However, there are some complaints too regarding products and their shipping.
Yellow Pages:
On Yellow Pages, TPM has 5 stars out of 5-star ratings based on only 3 customer reviews. The reviews presented are positive.
Trustpilot:
On the Trustpilot website, TPM has 3.7 stars out of 5-star ratings based on customer reviews. There is only 1 customer review on the website. The business has average ratings on Trustpilot. On Trustpilot, an average rating refers to the average score given by customers who have reviewed a particular business or service.
Ripoff Reports:
Texas Precious Metals has only 2 reports registered in their Ripoff Report account. The reviews are attached below.
Google Reviews:
On Google, TPM has 4.6 stars out of 5-star ratings based on customer reviews. There are a total of 25 customer reviews on Google, and most of them are positive, with customers praising the company’s excellent customer service, professionalism, and expertise.
Texas 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.
Some Negative Customer Reviews:
#1. Lztherelife expressed frustration with TPM, stating that they had a negative experience and felt ignored for an extended period of time. As a result, they decided to leave without making a purchase and mentioned their intention to find another place to buy metals. Although they initially preferred a local option, they acknowledged that Texas Precious Metals seemed too busy to provide them with the desired attention.
#2. Gary R. mentions that TPM states they ship orders within three (3) business days of receiving payment. However, he adds that during busy periods, the company tends to extend the shipping timeframe by approximately another week or so.
#3. A customer recently shared their experience stating that they had purchased a significant quantity of silver from TPM, only to have their order canceled. They expressed dissatisfaction with the company’s policy of charging a flat fee of $350 regardless of the amount of silver purchased, as well as any market loss incurred.
The customer mentioned that they had placed the order in the morning at 8 am, and by 5 pm, the company still had the silver in stock but was charging them the $350 fee for the time spent on the transaction.
#4. John S. strongly advises staying away from this company, stating that the company cannot be trusted. He shares a negative experience where the company obtained his credit card information and made unauthorized charges, without delivering any products. He expresses his dissatisfaction with the company’s treatment of customers.
Also, the customer warns that they operate like a typical internet scam, targeting unsuspecting consumers who may not thoroughly review their statements. John concludes by mentioning that he has reported the company for its actions and does not recommend them.
Some Positive Customer Reviews:
#1. Kirkley C. praised TPM for providing excellent service. They mentioned that the entire process was thoroughly explained, easy to follow, and proceeded exactly as planned. They express satisfaction with their experience and indicate their intention to order from the company again in the future.
#2. Happy inquires about the eBay store for Texas Precious Metals. He mention receiving a gift card from their children that they would like to use and request assistance in finding the appropriate eBay store.
#3. According to Bob Reeves, Texas Precious Metals is the top choice for purchasing precious metals due to its user-friendly interface, competitive prices, and affordability. He highly recommends the company as a reliable and trustworthy source for buying precious metals.
#4. According to Brian L., Texas Precious Metals is an excellent company to engage in business with. He commends them for offering highly competitive prices and providing responsive and professional customer service. Brian highlights the company’s punctual delivery and dedication to customer care as additional positive attributes.
#5. A satisfied customer confidently states that they would not consider buying metals from any other company besides TPM. They express their belief that the company is exceptional and embodies the highest standards of excellence and integrity.
Are Texas Precious Metals Legit? Should You Invest With Them?Is Texas Precious Metals a scam or legit? Are they worth it?
No, I don’t think you should invest with them.
Pros:
- A+ rating on BBB
- Nearly 18 years of industry experience
Cons:
- Lack of transparency
- No palladium or platinum products to offer
- Received multiple complaints for poor customer service
- Serious allegations of fraud in some complaints
While they are a legitimate company, they are not the best.
There are plenty of companies with better services, online presence, and specialization. Before you invest with any company, you should do thorough research.
So, I suggest you check out our top recommended gold IRA companies of 2023. Or, you can get a free gold IRA guide from our #1 rated company by clicking the link below:
Also, you can find the best-rated company in your state through the map below.
Each state has its own regulations and rules, so we’ve sorted and found the best Gold IRA company for each state.
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