US Money Reserve Reviews: Is this Company Right for You?

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Last Updated: June 11, 2024

US Money Reserve claims it is one of the largest online distributors of precious metals in the United States. The company has operated since 2001 and calls itself America’s Gold Authority®. 

At Barcode of Life, we understand the importance of your financial decisions and the trust you have in our information. We conduct in-depth research on every company we review, including their reputation, product offerings, and history. Our goal is to provide you with reliable, comprehensive information so you can make confident choices.

We hold a skeptical view of banks, the monetary system, and politicians, recognizing that these entities often cater more to the wealthy than everyday investors. Therefore, we strongly advocate for individuals to have greater control over their own finances, firmly believing that they should have the power to make decisions about their money, reducing dependence on institutions and politicians.

The #1 ranked gold investment company has agreed to give our readers a FREE gold kit at no cost, until June 23, 2024. If you are even thinking about investing in gold, you need to request this kit.   
 
Check out our best gold IRA companies list for 2024.

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Key Takeaways

Company Overview

Philip N. Diehl, former director of the United States Mint, heads the company. US Money Reserve offers a free gold investing kit.

You can purchase precious metals for your private collection or gold IRA. The company offers a range of gold and silver coins, bars, and bullion but does not offer platinum and palladium. We will dive deeper into their offerings later in the review.

Customer Reviews & Complaints

The Better Business Bureau is an excellent source of information to help you learn about businesses. The company has 3.73 stars out of 5 and an A+ rating on the BBB.

There have been 18 closed complaints in the last three years and none in the last 12 months. We saw many common themes in complaints, including the following:

  1. Preying on the elderly
  2. Overvaluing coins
  3. Lack of communication
  4. Problems with shipment delays
  5. Problems with returns
  6. Issues with low buyback prices

We also checked reviews on the Business Consumer Alliance website. Based on seven customer reviews, the company has an AAA rating of four stars out of 5.

US Money Reserve has had one complaint closed in the last three years. The complaint was not from a customer but someone who kept receiving unwanted calls from the company.

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pros & Cons

Although no company can offer perfection, we expect to see more pros than cons when researching companies like US Money Reserve.

We want you to know the pros and cons in this Money Reserve review to receive balanced information to help you choose.

Pros

Cons

Legal Issues: Is the US Money Reserve Trustworthy?

The Texas Attorney General sanctioned the US Money Reserve in 2010 and required them to pay customers $5 million in restitution. Other lawsuits have been filed over the years against US Money Reserve Inc.

These lawsuits and sanctions are concerning, though they did happen years ago. Unfortunately, we discovered a new lawsuit by a former employee who alleges he was wrongfully terminated in 2021.

The terminated employee claims the following:

  1. Unfair markups
  2. Pushy and misleading sales tactics on precious metal products
  3. False and misleading statements on the rarity of proof coins
  4. Customer deception
  5. Wrongful termination because of voiced concerns


The company adamantly denies any wrongdoing and claims they will vigorously fight the lawsuit. Reporters have completed numerous phone calls to learn information, but very few details are available.

Is US Money Reserve a Legit Company?

US Money Reserve is one of the nation's largest distributors of gold and silver from government mints. Although they have reasonable prices in their online store, your hard-earned money must be spent wisely, and we are unsure of the status of this leading distributor. Is US Money Reserve a reputable company?

Yes, they are a legitimate company. They have been around for over 20 years and have a solid rating on the Better Business Bureau and Business Consumer Alliance. Given the current market, we are concerned about the company's potential risks. Is the overall cost of gold and silver coins and other forms being inflated unfairly, and is their buyback guarantee sound?

Customer Service Expectations

We hold companies to a high standard of customer service. You want access to gold market experts when investing in gold coin and other precious metals. US Money Reserve claims to offer excellent customer service but reviews state otherwise.

When your financial future is on the line, you cannot settle for purchasing precious metals from a company with poor customer service. You should not have to endure pushy sales tactics that force you to buy physical precious metals outside your budget constraints.

Money Reserve's expertise shines, but their approach may be a bit too pushy for your taste. Money Reserve legit wants to help its customers, but this precious metals company may be missing the mark, though it appears they are working diligently to resolve past issues.

What Gold Coins Does US Money Reserve Sell?

Money Reserve reviews would not be complete without information on the precious metals they offer. The company sells silver and gold coins and other government-issued precious metals. Many of these are approved for investment in a gold IRA account. You can buy from Money Reserve online or by phone if you need guidance with your precious metal IRAs.

Fee Structure

The annual fee for a gold IRA account with US Money Reserve is $250 a year, but the company does waive the fee for accounts meeting specific requirements. Qualifying accounts must meet the following:

You should also consider other fees that may be involved, including shipping costs and storage fees. You should think about more than the original purchase price when investing in bullion coins for your precious metal IRAs.

Should You Invest in a Precious Metals IRA?

You should invest in a precious metals IRA because it offers tax advantages, allowing you to save money while investing in your future. It is important to note that not all commemorative coins are allowed in an IRA.

You must purchase certified gold that meets the IRS requirements for purity. You must also seek an IRS-approved depository to store your metals after you buy gold. US Money Reserve offers secure storage options and educational resources to help you learn about investing in gold for an IRA.

FAQ About US Money Reserve

We receive many questions about companies we review, including US Money Reserve. Readers want to know if the company ships in sealed containers and the price of gold.

The company does ship in sealed containers, and the price of gold changes regularly based on the current price in retail. The following are some of the top questions we have received from readers.

US Money Reserve has annual fees. They charge $250 per year but will waive the first year's fees if you roll over at least $25,000 or make a minimum purchase of $6,000 in certified coins.

You can buy gold and silver from US Money Reserve. They do not offer platinum or palladium coins and bars.

You can transfer funds from your 401K to a gold IRA. You will need a custodian's help to take care of the rollover. Rolling over from a 401K to a gold IRA should not cause you to incur any penalties because you never take physical possession of the funds.

Our Final Verdict on US Money Reserve

Overall, US Money Reserve seems like a sound company, but some of its business practices seem shady. Customers have given them many positive reviews, but the complaints, lawsuits, and sanctions by the Texas Attorney General are concerning.

Unfortunately, we cannot recommend this company as thoroughly as we would like. If you decide to work with US Money Reserve, we urge you to take precautions and research carefully. Read for yourself what the customer complaints and lawsuits state, and then make an informed decision.

Recognizing that banks often serve the interests of the wealthy rather than everyday investors, we approach banks, the monetary system, and politicians with skepticism. We strongly believe that individuals should have greater power over their finances, empowering them to make decisions about their money independently and reducing reliance on institutions and politicians.

The #1 ranked gold investment company has agreed to give our readers a FREE gold kit at no cost, until June 23, 2024. If you are even thinking about investing in gold, you need to request this kit.   

See How Smart Americans are Protecting Their Savings & Retirement

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