Orion Metal Exchange is a full-service precious metals dealer. What we like about Orion is its competitive pricing, in-house IRA department, website with real-time precious metals pricing, and offer incentives to provide reimbursement for precious metal storage, insurance and custodial fees.
Orion Metals Exchange is an affordable precious metals dealer that provides a variety of services, including an easy-to-set-up IRA account.
Orion Metal Exchange Review
To learn about Orion Metal Exchange, we spoke with a company representative and asked about rolling over an existing retirement account into a precious metals IRA. We needed to do this because there is limited online information about the company’s services. Overall, our conversation with the company representative was educational and enjoyable. They answered our questions and clearly explained the company’s fees, pricing, and options without being pushy.
Pros
No setup fees or transfer fees for an IRA
Free precious metal storage promotions when you open an IRA
Fast and insured shipping for customers who want to take possession of the precious metals
Cons
Although Orion Metal Exchange representatives are friendly, you cannot purchase precious metals online
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 is especially knowledgeable about various gold, silver, and precious metal investing options. The company primarily sells gold, silver, platinum, and palladium. Their website offers information on real-time precious metal pricing and the current prices for various coins. Orion offers investors three precious metal storage options – home storage, secure vault (depository) storage, or the choice to put the metals in an Individual Retirement Account (IRA). For guidance on selecting IRS-approved gold coins and storage options for an IRA, read our gold IRA buyer guide.
Home Storage: If you want to keep your gold, silver, or other precious metals at home, Orion Metal Exchange will help you choose the right type of in-home safe to secure these assets.
Secure Vault: A depository vault is a safer, more secure option than home storage. Orion Metal Exchange can recommend domestic vault storage services, such as Brink’s, or international options.
IRA: Orion Metal Exchange can assist with opening a Precious Metals IRA account to store your precious metal investments, or they’ll help with completing a rollover from an existing IRA.
Orion Metal Exchange Gold IRA Features
Customers can put their precious metals in a tax-deferred account with an Orion Metal IRA. These metals can be bullion coins or gold, silver, platinum, or palladium bars.
One of the company’s best attributes is that we could instantly access educational resources and request a free investor kit to learn more about buying gold and silver with Orion. Currently, the company offers monthly incentives.
The website gave us several options to contact an experienced account representative to guide us through the process of opening an IRA.
Orion IRA accounts follow the same tax rules as any other IRA:
Contributions are deductible from federal income taxes
You only pay taxes upon withdrawal (unless it’s a Roth account)
There are penalties and taxes for withdrawal before the age of 59 1/2
As with other traditional IRA accounts, there are mandatory distribution minimums and taxable withdrawals at 70 1/2 years of age. Discuss the differences between a Roth and a traditional IRA with a tax advisor.
A precious metal IRA is appealing to some investors as a hedge against inflation. Metals prices move in the opposite direction of cash, stocks, and bonds. Many investors avoid this diversification due to the tediousness of finding an approved depository and a broker or custodian. Orion Metal Exchange simplifies this process so clients can diversify without hassles.
Screenshot: Orion Coins Page
Orion Metal Exchange Costs
We contacted a representative from Orion Metal Exchange to ask about costs. Annual storage fees range between $75 and $100 per year, depending on where you can store metals. This cost is competitive with — and possibly lower than — the industry average. Insurance is included in the storage fee.
While the minimum investment for a precious metals IRA is $5,000, the company representative recommended a minimum investment of $30,000 to take advantage of promotional offers. At the time of our phone call, for example, an investment of $30,000 will give you one year of storage, insurance and a custodian for free. Other promotions may be available as well. Orion does not charge an annual agreement fee and offers more metals for your money.
Orion Metal Exchange Rates
The price of precious metals changes constantly. But Orion Metal Exchange provides guaranteed real-time pricing on its website on its “Coins” page and historical pricing on its “Chart” page. We found these pages very intuitive, allowing us to easily navigate current and historical pricing from three, six, or twelve months ago. This interactive charting tool is available for gold, silver, platinum, and palladium. For example, here is a snapshot of gold and silver prices as of January 2023:
Gold Coins
Price
Gold Royal Canadian Mint Grizzly Bear
$885.75
Gold Canadian Maple Leaf 1 oz
$2,060.69
U.S. Cold Commemorative B.U. Proof $10
$1,042.47
Proof Gold American Eagle 1 oz
$2,707.21
Gold Royal Canadian Mint Snow Falcon
$642.27
Orion Metal Exchange Prices
Silver Coins
Price
Silver Royal Canadian Mint Snow Falcon 1.5 oz
$61.44
Proof Silver American Eagle 1 oz.
$54.88
Silver Royal Canadian Mint Grizzly Bear
$56.74
Silver Royal Canadian Mint Arctic Fox 1.5 oz
$56.38
Silver Royal Canadian Mint Polar Bear and Cub 1.5 oz
$60.02
Orion Metal Exchange Prices
Our Experience With Orion Metal Exchange
One of the reasons we placed Orion at the top of our list is that they made it easy for us to access educational resources quickly and request a free investor kit to learn more about buying gold and silver through them. The kit was sent to our email; it gave us several easily-implemented tips for choosing the right gold IRA company and how to avoid rookie mistakes when buying gold, which we found really helpful for empowering our decision. We also had many opportunities to contact an experienced account representative. Once connected, we found the expert knowledgeable and friendly as they explained the process of opening an IRA.
Orion stands out from competitors because of its commitment to transparent online pricing. This helped us compare prices elsewhere and gauge our investment potential because they don’t hide purchase fees or commissions. Orion also states that it won’t ask you to send funds before confirming price and product information beforehand, which we feel would be reassuring to potential investors.
Orion Metal Exchange Complaints
Most complaints about Orion Metal Exchange are about the daily market updates on gold or silver commodity spot pricing. While the “Charts” page provides real-time pricing updates for gold, silver, platinum and palladium, it’s important to note that while the company does provide market prices for precious metals, the market price is a reflection of the business cycle. You can contact a representative over the phone with any questions about how the precious metals market works.
Customers appear to be happy with Orion Metal Exchange overall, which makes sense given its customer-oriented focus and emphasis on knowledgeable representatives. Reviewers also loved how easy it was to transfer a traditional retirement account to gold and silver. Five-star reviews say Orion isn’t pushy and takes time to explain the purchases you’re inquiring about in detail, either through a representative or their free investor kit.
Orion Metal Exchange FAQs
Do my retirement funds stay tax-deferred in my Gold IRA? Yes. Orion Metal Exchange offers the same tax-deferment benefits as other IRAs. The same penalties exist for early withdrawal, such as fees and taxes.
Are all coins eligible to be put into an IRA? No. Not all coins are acceptable, and this is established by the IRS. American Gold Eagle and Silver Eagle coins are IRA eligible, as are a minimum .995 pure gold coins. Silver coins must be at least .999 fine.
Should I store my precious metals at home? Home storage could result in theft or burglary and is not an IRS-approved activity for IRAs. And unlike a stock certificate you could replace by simply paying an administrative fee, it is impossible to recover physical metals that are lost or stolen. Storing precious metals in a secure depository is the best way to keep your investments safe.
Can I just store my precious metals in a safe deposit box? You can, but Orion warns it could cause additional problems and costs. Would you store a few coins or a bulk amount of precious metals? If the latter, it might exceed the box capacity. Another consideration is the need to securely move these bulky items when you want to cash them out. The rental fee for one or more boxes can become expensive if you rent them for an extended period. You must purchase insurance for the safety deposit box contents since the bank does not provide this insurance.
Are there any disadvantages to using a depository? To avoid penalties, be sure to set up the depository account correctly. For example, you need to find out if your assets are held separately from the company’s assets. If they are not separate, and the company files for bankruptcy, it may take some time to release your assets. If you choose the depository route, be sure the accounts list you as the owner.
With an IRA, how will I know how my precious metals are performing? Orion Metal Exchange partners with custodians that provide online access for their clients. Contact Orion directly to determine the real-time market prices for trade.
Why can’t I just purchase precious metals from Orion and put them into my existing IRA? Most brokerage firms that handle bonds, stock, mutual funds and other traditional investments don’t also handle physical assets. However, customers can choose to open a Self-Directed IRA with an organization that manages IRS-approved storage facilities.
What should I be careful of when dealing with precious metals? 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. The Federal Trade Commission recently ordered one scammer to pay over $428,000 for trying to con senior citizens through a precious metals scam. When considering investing in precious metals, always ask questions and get everything in writing before you make a decision.
Conclusion
Orion Metals Exchange scores high in several categories. It is an all-purpose precious metals dealer that provides the option to buy or sell and also has an IRA gold account to help consumers diversify their portfolio. The minimum fees are affordable and the real-time market updates help investors stay informed of the performance of their investments.
From a NIGHTMARE to AWESOME DEAL, I started with a different company rolling my 401K into Gold & Silver IRA and the other company after 3 or 4 days finally did the deal that I quickly backed out of when the prices they were selling me Gold & Silver seemed really high.
I was pretty upset. Slept on it and prayed for guidance as this was all new to me and soon called Orion. From this point on it was all Awesome. The nightmare was over. They sold me the same Gold coin for $200+ per 1/4oz less.
And much the same story with most of my silver coming in well under like 35% + ... I would have never guessed from one dealer to another the gap could be that huge!! The people here at Orion were so quick and helpful.
I was relaxed and now that it's done I can sit back and see what happens. Jacob was great to work with and I look forward to see one of the Coins he pointed out how it does. The other two will likely move with the markets.
For the most part I guess anyway the transaction here could not have been better and being new I enjoyed the fact no one ever made me feel out of placed and answered every question with detail... Thank God for guiding me and Thank Orion for being honest and great to work with...
Gary H.
Jericho, VT
April 13 2021 9:33PM
I am a first time metal investor and wanted to make sure I chose the best company. I did my research, and am happy to say I found Orion Metal Exchange.
They made sure I was comfortable throughout the entire process. They are sensible and very on top of things. I would recommend Orion to anyone who wants dependable service.
A.J M.
Phoenix, AZ
April 13 2021 9:12PM
Reliable and very attentive. The service I received was unbeatable. Everyone who helped me was extremely informed and seem well versed in the precious metals industry. Thank you Orion for guiding me through my investment journey.
Joey K.
San Diego, CA
April 10 2021 12:22AM
After doing research on many precious metals IRAs available I decided Orion was for me. The Team of professionals made me feel comfortable with the process of switching from my local bank IRA to their self directed IRA. I am very happy with my decision. Thank you Michael, Griselda and Jacob!
Vincenza M.
Parish, NY
April 08 2021 12:16AM
A lot of phone conversations to someone to explain what needs to be done to make this transfer happen but the end result is satisfying and I look forward to having a positive gain. Waiting to get my first report on my investment.
William K.
Salem, NY
March 30 2021 3:06AM
I rolled my conventional IRA into a precious metals IRA. The team at Orion was very professional and explained how to do it and the benefits of rolling it over. I would recommend the team at Orion to my friends and family.
Karla M.
Neosho, MO
February 17 2021 6:34PM
Very knowledgeable and myself being new to precious metal investments Jacob explained how it all works. It was a very easy process transferring my 401k into precious metals.
Jacob gave us his honest opinion as to what precious metals were best to invest in and that helped us make a knowledgeable decision. All our questions and concerns were addressed completely.
Judith H.
Apache Junction, AZ
January 15 2021 1:42AM
I am very impressed with Orion Metal Exchange. They are very knowledgeable and have excellent customer service. They were professional and really took the time to answer all of my questions. They are an exceptional company and I highly recommend doing business with them.
Aleisha H.
Los Angeles, CA
December 21 2020 7:34PM
Working with Orion Metal Exchange was a dream! Everyone I spoke to was well informed and committed to making sure I was satisfied. I have no complaints and will be recommending this company to anyone looking to invest in precious metals.
Michael J.
Malibu, CA
December 21 2020 7:24PM
Orion Metal Exchange made sure that my transaction was seamless. I am extremely thankful for the amount of assurance and time this company spent making sure I was satisfied.
I worked with Mike and his years of experience in this industry made me feel confident. Everyone is very knowledgeable and ready to help.
Thomas C.
Malibu, CA
December 09 2020 5:17PM
I was advised by people I respected to select annuities prior to my retirement. Unfortunately for me, I took that advice and retired in 2001.
Then life happened and what I thought was a good sum of money slowly lost value with each turn of the market--and there were many turns, mostly all negative. Had I invested in precious metals in 2001, I would have been a lot better off now.
So my advice to anyone reading this in their early retirement years is to get out of paper investments quickly. Invest in precious metals with an excellent company like Orion Metal Exchange. Life will be even more tumultuous going forward than it is now.
Precious metals will protect you and a good company like Orion Metal Exchange will help you to secure your future solidly in precious metals.
Orion is very professional, knowledgeable, helpful, and will advise you with integrity. Do yourself a favor and learn from my experience!
Anthony P.
WINTER SPRINGS, FL
June 28 2020 3:51PM
I was so impressed by Orion Metal Exchange. They were honest and professional. They made me feel comfortable about my purchase and never once did they pressure me. As a first time precious metals customer, I was very nervous. I did a lot of research and called a lot of other precious metals companies and found out that I could get a lot more metal for my money at Orion. Looking forward to doing more business with Orion.
Molly J.
Los Angeles, CA
August 12 2019 7:40PM
Any questions-solved, excellent service. Communication back-excellent. They will let you know what metals to have for your ira, or you pick your service. I had 10 companies call me back in 2 weeks. Expect same day service for same day.
William C.
Kodak, TN
July 01 2019 6:06AM
All of my questions and concerns were answered and addressed in a professional and courteous manner. The transaction process was simple and I was pleased with the open line of communication through purchase and delivery. I would recommend Orion Metal Exchange to anyone looking to purchase precious metals.
Michael R.
Los Angeles, CA
March 12 2019 5:11PM
I had been thinking about investing in Gold and Silver for a while and wasn't sure what to do because I have been invested in Stocks and Bonds for so long. Senior Account Manager, Robert ** was very helpful and patient with us doing our IRA rollover. We had a considerable amount of money invested in the stock market and making the move into precious metals was very quick and easy. We couldn't be happier. Thank you Robert and the IRA Department at Orion! 5 stars!
Rick K.
Los Angeles, CA
April 06 2018 5:14PM
I rolled over my IRA with Orion Metal Exchange. Everyone was so helpful and answered all my questions since this was new to me. They helped me protect my retirement account from this volatile stock market. I recommend to call Orion and see if they can help you
