Orion Metal Exchange Review

Orion Metal Exchange is a popular precious metals IRA provider. But are they right for you? How high are the fees? Read on to find out.

Most people invest in the stock market for retirement. But what if the market is down when it's time for you to cash out?

You'll lose money.

That's why people invest in gold and other precious metals. And why precious metals IRA providers like Orion Metal Exchange exist.

But is a precious metals IRA with Orion Metal Exchange right for you? And how high are their fees?

Keep reading to learn everything you need to know.

What is Orion Metal Exchange?

Before diving in and talking about their precious metals IRAs, let's look at the company.

Orion Metal Exchange is a popular gold and precious metals dealer based in Los Angeles, California. They were founded in 2017 by Jacob Blalock.

They sell a range of precious metals coins, bars, and bullion, including IRA-eligible metals that can be used to fund a precious metals IRA.

Their precious metals IRA supports gold, silver, platinum, and palladium, and can be funded directly or by rolling over an existing retirement account, such as an employer-sponsored 401(k).

How do their features compare to other popular gold IRA companies? Let's see.

Orion Metal Exchange Features

Now that we know a bit about the company, let's take a deeper look at their services, starting with their precious metals IRA.

Precious Metals IRA

The precious metals IRA offered by Orion Metal Exchange is a tax-advantaged, self-directed retirement account that allows you to invest in gold, silver, platinum, and palladium as a part of your retirement savings plan.

It is intended for investment diversification. Many advisors recommend investing 10% and 20% of your retirement savings in gold and other precious metals.^[1]

Chances are you already have a retirement investment account, either an existing IRA or 401(k), so why you would need to open a separate precious metals IRA?

Well, most IRA custodians don't support precious metals. But some like Orion Metal Exchange do.

You even have four different metals to choose from with Orion Metal Exchange, while some providers only offer gold and silver.

Buy Precious Metals Directly

You can't buy gold from any old dealer for use in an IRA. The IRS imposes strict requirements on what precious metals can and can't be used in a precious metals IRA.

Precious Metals IRAs must be funded with bank transfers or transfers from another retirement account, and that money is then used to purchase precious metals.

Each metal has its own requirements regarding purity and, in some cases, proof of authenticity.

That means that buying the right gold coins, bars, and bullion to fund your account can be a tricky task if you don't know what you're doing.

Buying from your IRA provider directly can save a lot of hassle and spare you the risk of losing money by buying metals that don't qualify for your account.

Fortunately, Orion Metal Exchange offers a selection of both IRA eligible and other precious metals.

You can purchase the following and more:

• Gold American Eagle
  
• Gold Canadian Maple Leaf
  
• Proof Gold American Eagle
  
• IRA Approved Gold Bars
  
• Silver American Eagle
  
• Proof Silver American Eagle
  
• IRA Approved Silver Bars
  
• Platinum American Eagle
  
• Platinum Canadian Maple Leaf
  
• IRA Approved Platinum Bars
  
• Palladium American Eagle
  
• Palladium Maple Leaf
  
• IRA Approved Palladium Bars

The bars they offer vary depending on availability.

Storage

Secure storage is an important consideration when opening a precious metals IRA.

Even if it were safe, you aren't allowed to open a "home storage IRA," as some ads claim. The IRS has strict regulations about where you can keep your IRA-grade precious metals.^[2][3]

That's why they suggest storing your metals with one of their recommended depositories, Brinks or Delaware Depository.

Buyback Program

When it comes time to take the required minimum distributions from your IRA, you don't want to be stuck trying to sell your gold on your own.

When you withdraw from your IRA at Orion Metal Exchange, you have the option to take physical possession of your precious metals. Or you can take advantage of their liquidation option and receive your withdrawals in cash.

This can save you the trouble of finding a buyer in a hurry, though you still have the option to shop around if you are determined to get the best price possible.

Fees to Look Out for

When you open a precious metals IRA, it's important to consider fees. Even relatively low fees can add up over many years.

Let's look at the fees Orion Metals Exchange charges for their precious metals IRA accounts.

One-Time Setup Fee from the IRA custodian: $250
Annual Storage, Insurance, and Management Fees: $175

Precious Metals IRA companies make most of their money from the spread prices when you buy your gold, and these fees can vary wildly from company to company. Orion Metal Exchange has some of the lowest spread prices because they buy precious metals in bulk.

And unlike most precious metals IRA providers, you can find their current metal prices on their website.

Minimum Required Investment: $10,000

Their minimum investment is one of the lowest in the industry. You can also talk to their rep to see if they have a monthly promotion, such as receiving 3% in free precious metals when you make a purchase.

Orion Metal Exchange vs Competitors

Now that you've taken a detailed look at Orion Metal Exchange, let's look at them in the context of other precious metals IRA providers and see how they stand up to some of their most popular competitors.

Orion Metal Exchange vs Augusta Precious Metals

	Orion Metal ExchangeGoldco
	Learn More	Visit Site
		SPECIAL OFFER Gold IRA Company Integrity Checklist - Learn More
	Benefits and Features
Annual Fee	$175	$200 after first year
Minimum Investment	$10,000	$50,000
Gold IRA
Setup Fee	$250	$50
Silver IRA
Platinum IRA
Palladium IRA
Buyback	Yes	Yes
	Learn More	Visit Site
		Gold IRA Company Integrity Checklist Silver IRA Retirement Diversification Free Gold IRA Web Conference

Augusta Precious Metals is a leading precious metals IRA provider. They offer investments in gold and silver, meaning that if you are set on investing in platinum and palladium, you will probably prefer Orion Metal Exchange.

Overall they offer similar services, including the ability to purchase precious metals directly.

But Augusta Precious Metals has a significantly higher minimum investment requirement of $50,000,^[4] while Orion allows you to start with $10,000.

Orion also lists all their precious metal prices on their website, while Augusta requires that you call a rep.

Depending on how much you invest though, you may get a better fee rate with either provider. Both have excellent reputations and reviews.

Gold IRA Company Integrity Checklist

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Orion Metal Exchange vs Patriot Gold Group

	Orion Metal Exchange	Patriot Gold Group
	Benefits and Features
Annual Fee	$175	$200
Minimum Investment	$10,000	$50,000
Gold IRA
Setup Fee	$250	5% on dealer-over-cost metal prices
Silver IRA
Platinum IRA
Palladium IRA
Buyback	Yes	Yes

Orion Metal Exchange and Patriot Gold Group have a lot in common. They offer the same four metals for investment and charge similar fees.

Both work with reputable depositories to offer secure storage, and both will buy back your precious metals when it comes time to take distributions from your IRA.

Patriot's minimum investment is higher at $50,000, while Orion Metal Exchange's is only $10,000.

However, if you have over $100,000 to invest, you may want to go with Patriot Gold Group, as you'll qualify for their No Fee for Life IRA.

Bottom Line

Orion Metal Exchange is a reputable precious metals IRA provider with more transparency than most precious metals IRA providers. You can find the current precious metals prices and fees on their website, instead of having to speak with a rep.

They also have one of the lowest minimum investments and their fees are slightly lower than the industry standard.

In other ways, Orion Metal Exchange offers similar services as their competitors with a range of precious metals, a buyback program, and secure storage options.

Overall, you should get a quality experience if you invest with them for retirement, but you will probably not miss out on much by choosing one of their competitors either.

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