Provident Metals Reviews

Provident Metals is a precious metal retailer (and buyer) that was established in 2009 and is headquartered in Dallas, Texas. Provident specializes in gold and silver coins and bars but also carries a huge variety of precious metals and other products, including platinum, palladium, copper, paper notes and even collector cards.

The company is “constantly striving to offer the lowest and best prices in the industry,” according to its website. Provident Metals also offers self-directed precious metal individual retirement accounts (IRAs), so you can diversify your retirement accounts.

Provident Metals makes the buying and selling process very easy. You can buy online 24/7, any time that’s convenient for you. If you prefer, you can also purchase over the phone during business hours.

Buying metals is fairly simple; you add products to the cart and check out using one of the many accepted payment methods. Most methods have no minimum purchase required. Your products ship securely and discreetly. Shipments are fully insured, so you don’t need to worry about losing your investment.

Selling is also a simple process, although it must be done over the phone. Sellers call to lock in their prices and then ship their metals out the next day. Payment is released three business days after Provident receives the shipment.

Provident Metals offers several products — not just gold and silver — including precious metals, coins and other products. The company also offers free shipping on orders over $199. Here’s a rundown of Provident Metals’ offerings:

• Gold: Coins, bars, notes and jewelry
• Silver: Coins, bars and silver rounds (coin-shaped pieces of silver that aren’t legal tender)
• Copper: Rounds, bars and wheat pennies (pennies minted between 1909 and 1958, with two stalks of wheat on the back of the coin)
• Platinum: Coins and bars
• Palladium: Coins and bars
• Other legal tender: Clad coins, various collectible tribute coins and tribute paper currency
• Other products: Rare metal bullion (iron, zinc, tin, tellurium, zirconium and more), tribute rounds and collector cards

Definitions:

• Clad coin: A coin consisting of an inner layer surrounded by layers of another metal. For example, an inner copper core surrounded by nickel and zinc layers. The current penny, dime, quarter, half dollar and dollar are examples of clad coins.
• Tribute coin: Tribute coins are special coins used to commemorate events or milestones.
• Rare metal bullion: Bullion is metal that’s been refined to a high degree of purity, often in the form of bars. Rare metal bullion, in the context of Provident Metals, is bullion of iron, zinc, tin, tellurium, zirconium and other less-common metals.
• Tribute rounds: Tribute rounds are commemorative coin-shaped pieces of metal (for example, silver). They are not legal tender.
• Tribute paper: Commemorative paper currency.

Costs with Provident Metals vary quite a bit depending on what you’re purchasing. However, live prices are always clearly displayed on the site as you shop and you can view historical prices for gold, silver, platinum and palladium.

There are also discounts available with certain payment methods: 4% for bank wire, ACH, personal check, cashier’s check and money orders and 3% for bitcoin.

It’s worth noting that most states charge sales tax on the sale of precious metals. Unless you’re in one of the few that don’t (Delaware, New Hampshire and Oregon, for example), you’ll pay sales tax on your purchases. On the flip side, Provident offers free shipping on orders over $199.

Yes, Provident Metals is a legitimate precious metal retailer. It’s been in business since 2009. The company is owned by JM Bullion.