Frequently asked questions
Get answers to common questions
How do I use Metalsmart?
To begin, answer our short questionnaire. We use this information to make custom recommendations for you. We create a custom plan and present it to you for review.
You can either accept the plan or make any changes you want and then simply submit the Plan for pricing. If you’re a first-time user, you’ll need to create an account and then verify you are you through our Magic Link.
From there your plan gets sent to a selected group of dealers and they can submit a price proposal for those specific products.
You will be notified when a dealer submits a price proposal, and you log back into Metalsmart to view their proposals.
If you are interested and want to take the next step with one or more of the dealers, just Request Contact and that dealer will reach out to discuss next step in your purchase.
It’s that simple.
Why do I need a plan?
Your plan is meant to help you find the best priced dealer. It allows you to compare prices on the exact same products so you can tell which dealers want your business more. You can always buy other products, but your plan will help you compare dealers.
What happens when I request pricing?
We send your plan to our select group of precious metals dealers. They put together price proposals for you and submit them to Metalsmart. You will be notified via email and then you can log in to Metalsmart dashboard to review their proposals.
If you like what you see, you can Request Contact and we notify that dealer and provide them with your contact information so they can reach out to you. You can request contact from more than one dealer if you would like to talk with them before making your final decision.
What is a Magic Link? Am I going to get spammed?
Our Magic Link is a simple verification of your email. You’ve probably seen it before if you sign-up for a newsletter or purchase something on the internet. It’s a way for the provider to verify that your email is a valid email. And NO you will absolutely not get spammed. We do not release your contact information to anyone unless you specifically request contact with a dealer, and even then only that dealer receives your information.
What is my Dashboard?
Your dashboard allows you to track your plan’s price proposals you’ve received from our dealers. It’s a simple snapshot view of your activity in Metalsmart.
When should I expect to receive a response from the dealer?
You should expect to be notified if a dealer has submitted a proposal within 48 hours. Most will do so within a few hours. If you have requested contact from a dealer to discuss their proposal, you should hear back within 24 hours. Most will contact you within an hour.
Who do you share my contact information with?
We only release your contact information AFTER you have requested contact with a dealer or otherwise ask to get matched with a dealer.
What criteria do you use to suggest which types of precious metals and products are a good fit for me?
We use historical price data to calculate potential returns and risks. Risk is defined as the variability in the returns, so more conservative products have smaller price variations (increases and decreases) than others and more aggressive products have higher price variability (both upside and downside). We use other data including each product’s liquidity, which is a measure of your ability to sell at a price that is close to the price at which you could buy the same product. The smaller these spreads, the more liquid the product is and the more you will get when you sell.
What if a dealer doesn’t have a product in stock?
We suggest products that are readily available at the time you build your plan. However, not all dealers will always have access to the exact same product as on your plan. When this happens, we suggest that the dealer enters pricing for the most equivalent product they have available and that they explain this to you when you choose them. It should not be a more expensive product.
What if I want platinum or palladium? You didn’t recommend them.
We typically recommend the more common coins or bars. 80% or more people stick with Gold and Silver, so we don’t include these in our plans unless you ask for them. You have the ability in MM to change your plan either at the top in the coin stack by zeroing out the gold or silver and applying a percentage to the platinum or palladium coin stack. You can also search for a specific coin and change your plan.
Should I buy bars or coins?
Typically it’s a personal preference. Bars are rectangular in shape and of a specific weight and purity. Typically purchased by investors purchasing large quantities. Coins are typically minted by a government mint and range in size from 1/10th oz to 1 oz or more. Coins may be sought by collectors as they may have cultural or historical value.
What metals are typically included or excluded and why?
We create your plan based on your answers to our questions, but we also will typically suggest popular or common bars or coins.
How do you determine the estimated product prices that are used to create my plan?
We connect to online precious metals pricing sources throughout the day to get our price estimates. These are used to estimate how many pieces of each product you could buy for your budget. Of course, prices change due to changes in the market and each dealer will quote a price as of the time they respond to your pricing request.
Are the estimated prices the prices I will ultimately pay for my gold and silver?
No, not necessarily. The estimated prices are estimates. The actual price you pay will depend on the market conditions when you make your purchase and could be either higher or lower than originally quoted by each dealer.
Dealers on Metalsmart
Are all precious metals dealers on the Metalsmart platform?
No! We only allow dealers who are willing to compete for your business with fair pricing for their service. Our dealers are selected if they:
This is where you can help also. We need your feedback after you interact and purchase from dealers so that we can monitor their behavior. Your feedback is invaluable and ensures that our dealers are the right fit for Metalsmart.
Why don’t I see the dealers that advertise on TV or all over the internet or have celebrity endorsers?
Most dealers who advertise on TV and especially those with celebrity endorsers are the dealers who mark up their prices the most, which means you are paying for those TV commercials and celebrities! As a result, we do not allow these dealers on our platform since their goal is to sell precious metals products with the highest mark ups to you and largest profits to them. Beware of these dealers!
How do precious metals dealers help me with my gold and silver purchase?
Here are a few ways that a dealer can help you with your purchase:
Explain the differences in the various products.
Provide insight into tax reporting requirements for different products.
Help with filing IRA paperwork.
Monitor shipments and troubleshoot delays and returns.
Why should I use Metalsmart?
You will save money when dealers compete for your business! We also save you time because you don’t have to spend time looking for and calling dealers.
Lastly, we screen the dealers on our platform so you can be sure that whichever dealer you choose will provide fair and transparent pricing and great service.
Who is Metalsmart?
Metalsmart is a group of individuals who want to disrupt the precious metals market. Experienced tech and metals entrepreneurs developed this groundbreaking online platform that connects consumers and dealers in the precious metals industry. Through its innovative quote comparison features, it empowers consumers to make well-informed decisions while providing dealers with access to high-quality leads. Metalsmart is committed to creating a fair and transparent precious metals market. Metalsmart does not provide investment advice.
Why would anyone purchase gold, silver, or other precious metals without coming to Metalsmart first?
We don’t know! Even if you have worked with a dealer in the past, there is no reason not to have dealers compete for your business on our platform. Give it a try. You can always call your prior dealer but with a Metalsmart plan in hand, you can force that dealer to be competitive on pricing.