Retirement Living takes an unbiased approach to our reviews. We may earn money when you click a partner link. Learn More
Orion Metal Exchange Review
4.9 Overall Rating
Customer Care
Pricing
Reliability
Ease of Purchase
Bottom Line
Orion Metal Exchange is a precious metals dealer that helps customers buy and sell metals and establish self-directed precious metals IRAs. It offers an in-house IRA department, online product pricing, insured delivery, and a commission-free buyback program.
Updated:
About Orion Metal Exchange
Founded in 2017, Orion Metal Exchange is a Los Angeles-based precious metals dealer that helps customers buy and sell gold, silver, platinum, and palladium. Its in-house IRA department assists with account setup, funding, and selecting a third-party custodian and insured depository. The company also publishes precious metals product prices online.
Pros
- Dedicated in-house IRA department
- Published online product prices
- Insured home delivery
- Commission-free buyback program
Cons
- No online purchases
- IRA minimum not disclosed when asked
Gold and other precious metal IRAs are an investment and carry risk. Consumers should be alert to claims that customers can make a lot of money in these or any investment with little risk. As with any investment, you can lose money and past performance is not a guarantee of future performance results. Consumers should also obtain a clear understanding of the fees associated with any investment before agreeing to invest.
Orion Metal Exchange Services
Orion Metal Exchange sells gold, silver, platinum, and palladium. Its website provides precious metals product prices and an interactive market chart.
Orion offers the following three services:
- Home delivery: If you want to keep your gold, silver, or other physical precious metals at home, Orion Metal Exchange offers insured, trackable delivery for purchases outside an IRA.
- Secure vault storage: Orion Metal Exchange helps customers establish accounts with insured commercial depositories in the United States for metals purchased outside an IRA.
- Precious metals IRAs: Orion Metal Exchange can assist with opening a precious metals IRA or transferring funds from an existing retirement account. Its in-house IRA department helps customers select a third-party custodian and depository.
Finally, Orion Metal Exchange offers a commission-free buyback program, allowing clients to liquidate precious metals purchased through the company, whether IRA-held, in third-party storage, or in personal possession, without paying sell-side commissions. Clients can lock in their buyback price by phone, and proceeds are issued once Orion receives the metals. Its website advises allowing four to seven business days for payment processing.
Orion Metal Exchange Gold IRA Features
Customers can hold eligible gold, silver, platinum, and palladium coins and bars in a self-directed precious metals IRA. Orion Metal Exchange’s in-house IRA department helps customers establish the account and select a third-party custodian and depository.
Customers can also access educational resources online and request a free investor kit to learn more about precious metals investing.
Precious metals IRAs follow the same tax rules as other IRAs of the same type:
- Traditional IRA contributions may be deductible, depending on your circumstances
- Traditional IRA withdrawals are generally taxable
- Withdrawals before age 59 1/2 may incur taxes and an early withdrawal penalty, unless an exception applies
Required minimum distributions from traditional IRAs generally begin at age 73 under current rules. Discuss the differences between a Roth and a traditional IRA with a tax advisor.
How Do You Open a Gold IRA with Orion Metal Exchange
You can get started with Orion Metal Exchange by contacting its in-house IRA department by phone. Its team will help you with account setup, funding, and selecting a custodian and depository.
A precious metals IRA appeals to some investors as a way to diversify their retirement savings. Orion Metal Exchange helps customers find a custodian and depository and coordinate account setup, but precious metals can lose value.
Orion Metal Exchange Costs
When it comes to costs, annual storage fees depend on where you store your metals. Orion Metal Exchange helps customers arrange storage with insured third-party depositories.
Before investing, request a written breakdown of purchase costs, custodial fees, storage charges, and any promotional terms.
Orion Metal Exchange Rates
The price of precious metals changes constantly. Orion Metal Exchange publishes product prices on its website and provides historical market pricing on its “Chart” page. Customers can confirm transaction pricing by phone before submitting payment.
Our Experience With Orion Metal Exchange: Is It Reputable?
Because Orion Metal Exchange’s website provides limited information about IRA minimums and fees, we contacted the company through its live chat feature. A representative said minimums vary by program and product but didn’t provide a specific minimum for any precious metals IRA. Representatives repeatedly suggested that we speak via phone, even after we declined and said we preferred chat. We received the introductory brochure only after following up on our initial request.
Customers can confirm product pricing and receive an invoice before submitting payment.
Orion Metal Exchange Complaints
At the time of publishing, Orion Metal Exchange had a 4.9-star rating from 216 reviews on ConsumerAffairs. Positive reviewers praised its knowledgeable representatives, communication, and help with account setup and transfers.
The few complaints raised include coin markups, buyback pricing, and missed follow-up communication. For example, one reviewer questioned purchase premiums and resale offers, but Orion disputed the complaint and said the customer’s holdings had increased substantially in value.
Orion Metal Exchange FAQs
Orion Metal Exchange lets you choose your IRA custodian and depository, and its team will help you arrange storage. If you buy metals outside of an IRA, you can use an insured third-party depository or have them delivered to you for home storage.
Orion Metal Exchange’s website provides precious metals industry charts. Compare current spot prices with the original purchase price to track market changes. For the amount Orion would pay to buy back the metals, contact the company for a current quote.
Most brokerage firms that handle bonds, stocks, mutual funds, and other traditional investments don’t also handle physical assets. However, you can open a self-directed IRA with a custodian that supports precious metals. Orion can help you select a custodian and depository and transfer funds from your existing retirement account.
The U.S. Commodity Futures Trading Commission warns against fraudulent sales pitches that may take the form of a TV, radio, online ad, phone call, or email. You should also be wary of guarantees or time-limited or limited-supply offers. Before investing in the precious metals market, ask questions and get all prices, annual fees, and terms in writing.
Orion Metal Exchange doesn’t publish a set minimum investment requirement on its website. When we asked through live chat, a representative said minimums vary by program and product but would not provide an amount for a precious metals IRA.
Conclusion
Orion Metal Exchange is an all-purpose precious metals dealer that offers the option to buy or sell and helps consumers establish precious metals IRAs to diversify their retirement savings portfolios. Although our live-chat inquiry left our question regarding the IRA minimum unanswered and required a follow-up chat to get a brochure, customer reviews on ConsumerAffairs are overwhelmingly positive.