Colonial Metals Group Review (They Rip People Off)
We live in a time of global economic uncertainty, and many Americans are concerned about their financial future. One way that many people are working to meet their investment goals for retirement is by buying physical gold and silver.
Though many companies sell physical metals for investment purposes, Colonial Metals Group is really making a name for itself.
Located in West Palm Beach, FL, Colonial Metals Group has established itself as a sought-after option for those looking to save for retirement using precious metals. The company offers some great promotions, has many purchase options, and regularly appears on trusted media outlets.
Here, I want to look at Colonial Metals, examine the pros and cons, and give my opinion as a physical gold investor.
NOTE: I do not recommend this company. Read why on this image below!
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Company | Rating | Minimum Investment | Request Information |
 | $50,000 | ||
 | No Minimum | ||
 | $10,000 | ||
 | $10,000 |
Executive Summary of this Colonial Metals Group Review
If you don't have time to read the full review, here is a quick overview of the pros and cons:
I really like the following:
- The site has great customer reviews and is highly rated on TrustPilot
- People like Jeanine Pirro, Roger Stone, and Larry Kudlow endorse the company
- The company has good promos including free silver and no IRA fees for up to 5 years
- There is a wide selection of precious metals products for a gold IRA or for home delivery
- They offer a buyback program
The one thing I don't really like, and they will simply have to prove themselves, is that they have only been in business since 2023. So, we don't really have a history to go by and must rely on what has happened with the company in the past two years.
Colonial Metals Group Company Background
Paul Stone, and a team of IRA and precious metals experts, founded Colonial Metals Group in 2023. Though the company is quite new, the leaders of the company, including Paul Stone, have decades of experience in the precious metals industry.
The company is located in West Palm Beach, and it's already become a favorite of conservative media personalities including Larry Kudlow and Roger Stone. The company has also been featured on RSBN, NewsMax, MarketWatch, Patriot TX, Fox Business, and more.
Colonial Metals has a focus on the customer, but they also want to be trustworthy and transparent. It is a good resource for people who want to diversify their portfolios with precious metals.
What is Available from Colonial Metals Group?
Gold IRAs
As with many companies like Colonial Metals Group, you can get a gold IRA here. A gold IRA allows you to put gold and other precious metals in an IRA, which you can later use for your retirement. The company funds the gold IRAs by rolling over or transferring an existing 401k or retirement account. Colonial Metals has an easy to follow setup process, and they offer personalized support throughout that process. They also work with well-known custodians like Equity Trust. The company stores their customers' metals in IRS-approved depositories, which offer insured protection for your investment.
Precious Metals for Home Storage
If you don't want an IRA, you can also buy other assets from Colonial Metals Group, including gold and silver bars, coins, and more. When you invest in these metals, you can store them in your home or bank vault. Additionally, one of the promotions Colonial Metals Group has is a free safe for qualifying accounts, making it easier to store purchased metals at home, as long as you aren't using the metals in your IRA. The company makes the buying process simple and easy.
Available Products
In addition to gold, the company offers a wide range of other precious metals including silver, platinum, and palladium. You can expect these metals to come from some of the most well-known mints in the world. Some of the most popular products include:
Gold Bars
- PAMP Suisse
- Credit Suisse
- Royal Canadian Mint
- Valcambi
Gold Coins
- American Gold Eagles
- Australian Gold Kangaroos
- Canadian Gold Maple Leafs
- British Gold Britannias
Silver Bars
- Sunshine Mint
- PAMP Suisse
- Royal Canadian Mint
- Valcambi
Silver Coins
- American Silver Eagles
- Australian Silver Philharmonics
- Canadian Silver Maple Leafs
- South African Silver Krugerrands
Colonial Metals Group also offers the Platinum Canadian Maple Leaf and the Platinum British Britannia.
Account Minimums and Promotions
In order to open an account with Colonial Metals Group for a gold IRA, you will need a minimum of $10,000. This isn't as high as other company, and I have seen minimums as high as $50,000.
The company also offers a number of perks including up to $7,500 in free silver, no IRA fees for up to 5 years and a free home safe for cash buyers who qualify.
Fees and Costs
You are probably thinking about the fees and costs for clients of Colonial Metals, too. Currently, the company is offering up to 5 years of fee-free set up and storage. This means you won't pay anything until the promotional period ends. At this point, it's generally about $225 per year to store the metals.
How Does the Company Make Money Without Fees?
If Colonial Metals Group isn't charging fees for five years, how is it making money? Well, the company makes money by adding a markup to the metals they sell on the website. Most precious metals companies do this, and keep in mind that the markup is also applied when you buy bars or coins for your IRA. You have to contact them for exact prices.
It doesn't matter which company you work with. It's really important to get all of the pricing information in writing. I'm not saying that they will give you false information, but some of these companies send a lot of propaganda filled emails or put a promotion in huge letters on the home page, but then put all of the precise information in the very small print at the bottom of the page. Just read everything.
Customer Experience
Colonial Metals Customer Reviews and Ratings
Colonial Metals Group has many positive reviews and many people look for Better Business Bureau ratings. I want to be up front and let you know that the company is not BBB accredited and it does not have a BBB rating. However, there are other review sites that show a lot of praise for the company, including:
- TrustPilot - 4.6/5 stars with over 80 reviews
- Bullion.Directory - 5/5 stars with two reviews
- Google - 5/5 stars with one review
When we look at the reviews and what people say, they highlight the dedicated customer service, the knowledge of the support team, and the commitment to offering exceptional options for precious metals buyers.
The Buyback Program
Colonial Metals has a buyback program, which is essential to many investors. This allows customers to sell metals back to the company at a good price. Again, my advice here is to get all of the details in writing and compare terms with other companies before you start selling back.
Opening a Gold IRA with Colonial Metals
Opening a Gold IRA with Colonial Metals Group is an easy process. The mission of the customer service team is to assist clients through the process, which is secure and straightforward.
Here's what you do:
- First, request a free Gold IRA kit from Colonial Metals Group
- Talk to a specialist about your goals
- If you are interested in working with them, you will fill out some forms and start the process of transferring from an existing IRA or 401(k). You can also use your savings or other methods for funding your new IRA
- Choose the precious metals you want in your portfolio
- Get the metals and store them in an IRS-approved depository
You might not understand every step yet, and you might only be reading this as you start exploring gold IRAs, but remember this: the dedication of the team is evident here, as they will help you every step of the way. They will do everything from help you choose a custodian and storage solution to making sure they deliver your metals on time. Of course, they will also help to protect your investment by paying storage fees for, up to, the first five years.
Pros and Cons of Working with Colonial Metals Group
Pros
- Large selection of precious metals
- Trusted media appearances
- No fees for up to 5 years
- Up to $7,500 in silver for qualifying accounts
- Free safe for at-home storage for qualifying precious metals purchases
- High ratings, no scare tactics
Cons
- Young company that was only founded in 2023
Though Colonial Metals Group is still a new company and building it's brand, the leadership, the customer-centered approach, and media appearances have helped it become a trusted company.
My Verdict
Since this is a new company, my best advice is to always do extra research. It seems like a great option for those who are ready to apply some diversification to their retirement account. Since precious metals are a good hedge against inflation, this may be a good company to look at.
I do invite you to check out the companies I've thoroughly vetted, including my reviews below:
FAQs
What is the minimum amount to open a gold IRA with Colonial Metals Group?
You will need a minimum of $10,000 to open a gold IRA with this company.
What metals are available through Colonial Metals?
The company offers a great selection of precious metals including gold, silver, platinum, and palladium. These include popular coins and bars from mints around the world.
Can I store my precious metals at home?
You can hold precious metals at home for personal use. However, metals held in a gold IRA must be stored in an IRS-approved depository.
Are there fees to work with Colonial Metals Group?
There are no fees from Colonial Metals Group, itself, at least for the first 1-5 years. These are covered depending on how much you add to your gold IRA.
How does the buyback program work at Colonial Metals Group?
Colonial Metals Group offers a buyback program for customers looking to sell their precious metals in the future. This means they will buy back the metals at a fair market price.
