Monument Metals Review – Are They Legit or a Scam?

By Tim Schmidt - UPDATED: September 10, 2024

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Ever wondered about the world of precious metals and how they can diversify your investment portfolio? You're not alone. I've delved into this fascinating realm and today, I'm excited to share my insights on one of the industry's key players today in this review.

Monument Metals, a relatively young company, has already made its mark in the precious metals industry. But what makes them stand out? I'll be exploring their services, pricing, and overall customer experience to give you a comprehensive review.

These are my findings on this company. It guides you through the good, the bad, and everything in between.

Company Overview

Monument Metals is a reputable precious metals dealer that has been serving customers since 2014. With a strong focus on customer satisfaction and a commitment to providing high-quality products, the company has quickly established itself as a trusted name in the industry. Whether you’re a seasoned investor or a passionate collector, Monument Metals offers a diverse range of products to meet your needs. From gold and silver coins to platinum and palladium bars, their extensive inventory ensures that you can find exactly what you’re looking for. Monument Metals is dedicated to delivering exceptional service, competitive pricing, and a seamless shopping experience, making it a go-to destination for precious metal enthusiasts.

Pros

Monument Metals has a number of strengths that make it a spoilt for choice option for investors interested in precious metal. Let's delve deeper to explore its various advantages:

Variety of Available Metals

One of the biggest strengths of Monument Metals lies in the variety of precious metals they offer. Their extensive catalogue runs the gamut from gold and silver to platinum, palladium, and even copper. From coins, bars to rounds, there is just about something for everyone. This is especially helpful for investors looking to diversify their portfolios, as it allows them to invest in a broader array of precious metals, thus potentially mitigating risks.

Competitive Pricing

In my experience, Monument Metals prices are highly competitive, able to stand up against most of the other players in the industry. They use dynamic pricing, which means the prices adjust in real time according to the market; you can rest assured that you’re getting the most updated prices. They ensure that their prices are aligned with the current spot price, providing transparency and fairness in their pricing practices. Also, they have a firm policy of not inflating their prices for higher profit margins. This way, customers stand a chance to enjoy even more savings. Better yet, they offer a discount for larger orders, which may appeal to consumers making a larger purchase or investment.

Cons

Although Monument Metals excels in many areas, it's only fair and balanced to address some weaknesses that some customers might find inconvenient. Let's delve into these aspects.

Limited International Shipping

One of the notable drawbacks of Monument Metals is its limited international shipping. While the company does cater to international buyers, it might not ship to all countries. We live in a globalized world, and it's common for investors to operate internationally. Although for U.S. based investors, this won't be a problem, for international investors, it may create barriers if their country of residence is not included in the company's shipping list.

Customer Service Concerns

Another concern that has been echoed by some customers of Monument Metals revolves around customer service. While many customers are satisfied with the company's overall service, some reported experiencing delays in response times from the company's customer care team. It's essential for any business, especially in a sensitive industry like precious metals, to maintain effective, prompt, and courteous customer service. While these concerns don't necessarily make Monument Metals a bad choice, they are certainly factors you might want to consider before deciding to invest.

Features

Monument Metals boasts quite some impressive features that set it apart in the domain of precious metals offerings. Let's delve deeper to explore its product range and see how user-friendly its website interface is!

Product Range

As I ventured through their inventory, I found an extensive variety of products - much more than just your standard gold and silver coins. They also offer pre-order options for new products, ensuring that customers have access to the latest items as soon as they become available. They also have a wide selection of platinum, palladium, and even copper items, which broadens their appeal to a diverse range of precious metal enthusiasts. You can find traditional sovereign mint products and smaller private mint items, bullion bars, constitutional silver, and an assortment of numismatic coins. This wide range of offerings indeed pushes Monument Metals to a relatively higher competitive edge in the market. However, variety can also be overwhelming for some investors - especially the beginners - who may struggle to decide what to buy.

Website Usability

After exploring the product range, I navigated around the website to evaluate its user-friendliness. One of the things that stood out was how organized it is. The website clearly separates products by type and metals for seamless navigation. Moreover, each item is accompanied by a product detail description and pertinent information, which I believe will be helpful in making informed purchasing decisions.

The website also offers live market pricing - a feature that I think adds to the overall user satisfaction as it enables prospective buyers to observe and track precious metal prices in real-time. Furthermore, it has an intuitive and easy-to-use checkout system that makes purchasing a smooth experience. However, I observed that the website does seem a bit plain and lacks some advanced features. A design overhaul could probably make the interface even more appealing and engaging.

Performance

As we venture further into this review, let's now scrutinize the performance of Monument Metals in terms of its e-commerce platform efficiency and its delivery and packaging system. These factors play a significant role in shaping the overall user experience and satisfaction.

E-commerce Platform Efficiency

During my navigation through Monument Metals' website, I observed that its online platform's efficiency is quite commendable. The site is designed in a way that it is uncluttered and easy to navigate even for someone who is new to the precious metals marketplace. The categories of products are clearly marked, making it easy for customers to find the specific type of metal they're interested in investing.

Moreover, Monument Metals goes a step further to illustrate each product with detailed descriptions. I truly appreciate this transparency as it empowers buyers to make well-informed decisions. In addition, the live market pricing feature stands out - it's an industry competitive edge, ensuring that customers are always updated with the real-time market values of various precious metals.

As for the checkout system, it's pretty seamless. The process is straight-to-the-point with clear instructions all the way from adding items into the cart to successful purchase, assuring buyers of a hassle-free experience. Yet, the platform's aesthetic appeal could use a bit of sprucing up. The inclusion of more visual elements, for example, would certainly enhance shoppers' engagement.

Timely Delivery and Packaging

A key element that adds credibility to any e-commerce outlet is its efficiency in delivering products and how they're packaged. On this front, Monument Metals doesn't disappoint.

Each order is meticulously packed to ensure the precious metals are well-protected. All packages are discreet, providing the needed assurance of privacy – an essential aspect when dealing with high-value items. What's more, their delivery is impressively prompt. It's worth mentioning that the speed of delivery might depend on the payment method used. However, even with e-check payments which require some processing time, my order arrived well within the promised timeframe.

While there's some room for betterment, particularly in their website design and aesthetics, Monument Metals excels in terms of e-commerce platform efficiency and delivery and packaging, thereby ensuring a satisfying shopping experience.

Industry Reputation and Trustworthiness

Monument Metals has built a solid reputation in the numismatic and bullion business, thanks to its unwavering commitment to transparency and fairness. With nearly three decades of combined industry experience, the company’s owners have cultivated a deep understanding of the market, which translates into great customer service and ultra-competitive prices. Customers frequently praise Monument Metals for its efficient order processing and timely delivery, which are crucial factors in the precious metals industry. As one of the largest online dealers, Monument Metals has earned the trust of a loyal customer base by consistently delivering high-quality coins and bullion products in a timely manner. Their dedication to maintaining high standards of service and integrity makes them a reliable choice for anyone looking to invest in precious metals.

Comparison

In this section, we'll delve deeper into how Monument Metals stacks up against its competition. We'll assess the price points and the product selection in comparison to other market leaders in the precious metal industry.

Price Comparison with Competitors

Monument Metals has positioned itself as an attractive option due to its competitive pricing. Compared to other dealers like APMEX or JM Bullion, Monument Metals often offers lower prices, especially for bulk purchases. For instance, the pricing for their 1 oz silver round was lower than both APMEX and JM Bullion at the time of writing this review, which definitely gives Monument Metals an edge in terms of affordability. Moreover, the absence of minimum order limits and quantity discounts offered by Monument Metals further enhance their competitive pricing model.

Product	Monument Metals Price	APMEX Price	JM Bullion Price
1 oz silver round	$25.55	$27.80	$26.67

However, it must be noted that the fluctuating nature of precious metal prices means these figures can change quickly, so it's worth checking multiple sources before making a purchase.

Product Selection vs. Market Leaders

Monument Metals has an extensive selection of precious metals including gold, silver, platinum, and palladium coins and bars. Compared to the largest online retailers, Monument Metals offers a unique selection of ancient coins and numismatic collectibles. Compared to other market leaders like Provident Metals or SD Bullion, Monument Metals stands out for its unique offerings such as ancient coins and numismatic collectibles.

Their extensive industry experience allows them to offer superior pricing and product selection compared to local coin shops. However, when it comes to raw selection size, some competitors have a wider range. For instance, APMEX boasts a collection of over 10,000 products compared to Monument Metals’ approximate 500. Nevertheless, what Monument Metals lacks in quantity, they make up for in the quality and uniqueness of their selection.

As always, the choice comes down to the buyer’s specific needs and preferences. If your priority is a vast selection, then maybe APMEX is the better option. But, if you value unique collectibles and competitive prices, Monument Metals could be just the ticket.

Testing

Bridging customer satisfaction with efficient processing speed and great customer support is integral to any buying experience. Let's dissect and evaluate how Monument Metals fares in these departments.

Order Processing Speed

In my testing phase, I examined how promptly Monument Metals processes orders from the time of purchase to when they're shipped out. Fans of speedy delivery will be thrilled. The average processing times I've experienced mostly hovered around 1-2 business days for in-stock items, although they claim to process most orders within 3-5 business days. The speed of processing could be contingent on factors like payment method and volume of orders, so keep this in mind.

One hiccup to note is for orders made with paper checks. They can extend order processing times to up to 12 business days. This is because it includes the stipulated 5-day hold time for checks to clear. For faster processing, you might want to consider other payment options, such as wire transfers or credit/debit cards.

Customer Support Response Time

How quickly does Monument Metals respond to customer queries? My testing showed their responses were relatively quick. Most email queries were responded to within a 24-hour window. One caveat, though, is waiting times could potentially increase during high volume periods. For urgent issues, reaching out to them through their phone line during operating hours resulted in immediate response. The staff were courteous, helpful, and well informed about their products.

While there's room for improvement in sustaining response times and expanding their customer service times, especially for international customers, Monument Metals, in my experience, generally excels in providing prompt replies and satisfactory resolutions.

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Conclusion

After diving deep into the world of Monument Metals, I've found it's a great platform for precious metal enthusiasts. With a diverse range of products and competitive pricing, it's hard to beat. Sure, they've got a few areas to work on, like expanding international shipping and boosting their customer service game. But they're already doing a great job with speedy order processing and prompt customer responses.

The fact that they can compete with big names like APMEX and JM Bullion when it comes to price is impressive. Plus, their unique offerings like ancient coins add a special touch. So, despite a few bumps in the road, Monument Metals stands out as a reliable choice for your precious metal needs. Here's to hoping they continue to evolve and improve in their journey. After all, no one's perfect, right?

What products does Monument Metals offer?

Monument Metals provides a wide variety of precious metal offerings including unique items like ancient coins. The user-friendly website makes navigating through the vast product range easy for customers.

How are Monument Metals' ultra competitive prices compared to competitors?

Monument Metals offers competitive pricing on their products. In comparison to competitors like APMEX and JM Bullion, Monument Metals generally tends to showcase lower prices.

What are the areas that Monument Metals can improve?

Although Monument Metals has limited international shipping and some customer service concerns, there is also room for website design enhancements to provide a better customer experience.

How quickly does Monument Metals process orders?

Monument Metals usually processes orders promptly, with average times hovering around 1-2 business days, except for paper check payments which can take longer.

How does Monument Metals handle customer queries?

Monument Metals replies to customer queries relatively quickly, providing email responses within 24 hours and immediate assistance via phone during operating hours.