The precious metals industry is booming, and if you want to get in on the action, you will have to choose a company to help you with your investment. Swiss America is one such organization.
Based in Phoenix, Arizona, this precious metals dealer allows people to invest in platinum, gold, and silver. It also offers Gold IRAs to help individuals save for their retirement.
In this article, we'll take a closer look at this precious metals company to determine whether it is indeed a legitimate investment advisory firm or a scam. We will look at real customer reviews and complaints to see what kind of experience Swiss America provides. Let's get started!
About Swiss America
The Swiss America Trading Corporation is a renowned precious metals company. It has been around since 1982 and offers investors the opportunity to purchase gold, silver, and platinum products outright or hold them in a self-directed Gold IRA.
Moreover, Swiss America places great emphasis on numismatic education, with a team of experts on hand to help customers make informed decisions and manage their investments.
It also provides investors access to news and views and offers a wealth of helpful resources. What's more, the company was featured on Fox News, CNN, Bloomberg TV, and other reputable networks, magazines, and newspapers.
To add to its credibility, the company was endorsed by the likes of Brannon Howse, Pat Boone, and Michael Savage.
Products and Services
Swiss America allows investors to purchase a wide range of precious metals. Here is a summary of what you can expect when you choose this firm:
- Bullion coins and bars. Choose from a wide range of platinum, gold, and silver coins and bars to diversify your investment portfolio.
- Gold IRAs. These self-directed accounts are designed to help you save for your retirement. Instead of other IRAs that hold paper assets, such as stocks, these accounts hold gold products.
- Silver IRAs. Much like Gold IRAs, these investments allow you to save for your retirement, except they are backed by silver bullion coins and bars.
- Rare coins. Swiss America also stocks some rare US coins, so if you are hoping to add to your collection, you may be pleasantly surprised when purchasing precious metals from this dealer.
Swiss America's Industry Affiliations
While being promoted by major news outlets is certainly great, it doesn't really tell us too much about its legitimacy and ability to provide reliable services. However, being affiliated with prominent industry players does. The Swiss America Trading Corporation is associated with the following organizations:
- Numismatic Guaranty Corp (NGC) - Dealer
- American Numismatic Association (ANA) - Life Members
- Numismatic Consumer Alliance (NCA) - Sponsor
- World Proof Numismatic Association (WPNA)
- Certified Acceptance Corporation (CAC)
- Industry Council for Tangible Assets (ICTA) - Member
- Canadian Numismatic Association (CNA)
- Coinplex Authorized Dealer
- National Silver Dollar Roundtable (NSDR)
- Professional Coin Grading Services (PCGS) - Dealer
Is the Swiss America Trading Corporation a Scam?
According to our research, Swiss America is not a scam but a legitimate dealer that investors can trust for expert advice and quality precious metals products. How do we know this?
Well it was featured by major news channels, magazines, and newspapers and is affiliated with major industry organizations, such as the Numismatic Consumer Alliance and the American Numismatic Association. It also offers a great deal of transparency about the firm itself, which is something you just don't see with scammers.
Moreover, a plethora of positive reviews can be found online that are a testament to the legitimacy and reputation of the Swiss America Trading Corporation.
The Pros and Cons of Working with Swiss America
Like all things in life, working with this company comes with its fair share of advantages and disadvantages. Understanding both the good and the bad is critical before you select a gold and silver dealer.
Pros
- Swiss America has been a part of the precious metals market for over 40 years.
- It places great emphasis on education and provides investors with a wealth of resources to encourage informed decision-making.
- Investors can get competitive pricing when they choose Swiss America.
- There are hundreds of positive reviews out there that are a testament to the firm's ability to provide exceptional customer service.
- You can choose from a wide range of precious metals.
- Swiss America's knowledgeable investment specialists offer sound advice and guidance.
Cons
- No palladium products.
- Users can't purchase metals from Swiss America online.
- Consultations with an IRA expert are mandatory before you can set up a retirement account.
Swiss America Reviews: What Real Customers Have to Say
So far, the Swiss America Trading Corporation looks fantastic on paper. But what kind of service does it offer to its customers? Let's look at what customers have to say on major review sites.
Better Business Bureau (BBB)
The Swiss America Trading Corporation is BBB accredited and has an overall A+ rating. If you didn't know, the Better Business Bureau is a US-based non-profit organization that is committed to fostering transparency and honesty among companies.
Praises
At the time of writing, there were primarily positive reviews on the Better Business Bureau website, commending Swiss America because its representatives exhibit utmost professionalism. Following 126 customer ratings, the company was awarded an average 4.98-star rating.
Complaints on the BBB Website
However, there were three complaints where customers complained about minor issues, such as not being called back or confusion about prices. What we appreciated, however, was that the company resolved all three issues and responded to each complaint, which indicates a commitment to meeting the needs of its investors.
Let's face it. Any company that has been around that long is bound to have received some complaints. However, the fact that there were so few is reassuring and a testament to the fact that Swiss America is a reputable company.
You can see those three reviews here:
Google Reviews
Overall, there were 59 Google reviews from customers who had both positive and negative comments about their experience. The company scored an average of 4.6 stars.
Praises
Many happy customers reported having a good experience. The overarching message was that Swiss America's customer service is exceptional. Many investors said that they wouldn't mind returning to the dealer for future purchases.
Take the review below, for example, where Doug Johnson claimed to have a much better experience with Swiss America than he had with another precious metals dealer:
Complaints
While reviews were primarily positive, that doesn't mean that there weren't any complaints. While one user had issues with withdrawing funds and high fees, others complained about differences between quoted prices and the amount they actually paid. Here are a few examples:
Final Thoughts - Can You Trust Swiss America?
Swiss America Trading Corporation is a reputable company that is known for its commitment to helping investors diversify their portfolios with precious metals. With a focus on education and a team of professionals ready to help people make good decisions, it is certainly a firm that you can trust.
However, it's important to remember that no matter which precious metals dealer you choose, no investment is without risk. Make sure that you are obtaining advice from a financial advisor before investing and keeping a close eye on the gold and silver market.
And, if you're looking for more helpful advice, please browse their website.
Frequently Asked Questions
1. Is it a good idea to invest in gold, silver, and platinum?
Absolutely. Precious metals tend to hold their value during periods of high inflation. Moreover, they have historical value, which means that the probability of these assets increasing in value over time is great. If you have other types of investments, purchasing gold, silver, and platinum bullion can be incredibly beneficial for diversifying your portfolio and protecting against potential losses.
2. How long has Swiss America been in the industry?
It was established in 1982, so the precious metals firm has been around for 43 years.
3. Does Swiss America offer IRAs?
Yes, it does. You can chat with one of its precious metals experts for assistance before you set up your individual retirement account.
4. Who is the owner of this firm?
Swiss America Trading Corporation is owned and run by Craig R. Smith.
5. What are the names of other reputable precious metals companies?
If you are hoping to cover all your bases before settling for a firm, here are a few to try:
- APMEX
- JM Bullion
- Money Metals Exchange
- SD Bullion
6. What is the minimum amount required to set up an IRA with Swiss America?
Swiss America has a relatively low minimum requirement for IRAs. You need to have at least $5,000 to fund a precious metals IRA.
7. How do I sign up for a Gold IRA?
Unfortunately, Swiss America doesn't allow you to sign up online, but that isn't necessarily a bad thing. They require a mandatory consultation with one of their investment experts, so you will receive reliable advice.
If you give the go-ahead, you can roll over funds, select your precious metals, make your purchase, and then store them in an IRA-approved depository.
