CMI Gold & Silver Review
Investing in precious metals and other rare goods is common among those who want to protect their goods. These commodities are interchangeable and have the same worth regardless of its origins. However, the most common places to buy them are in specialized commodities markets.
There are fewer precious metals in existence than other goods, such as stocks or real estate, so its value is higher. The four primary precious metals that people invest in are platinum, palladium, silver, and gold, and you can buy all of them in CMI Gold & Silver.
By reading this review, you will get all the information you need to decide whether or not CMI Gold and Silver, America’s first bullion dealer, is the correct choice for you.
Before you read this review:
We feel that rocky markets are ahead and that many of you are making financial decisions aimed at keeping your hard earned savings intact.
We also know the difficulty that goes into choosing a company you can put your trust in when buying precious metals. This is why we performed years of research to help investors make an informed decision.
The below link shows our findings on the most highly trusted and recommended investment companies to make your investing choices easier.
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What Will I Learn?
- CMI Gold & Silver
- Gold's Background in America
- CMI Gold & Silver Inc. Precious Metals
- Investing in CMI Gold and Silver Coins
- CMI Gold and Silver Bullion Bars
- CMI Gold & Silver Products
- CMI Gold & Silver Self-directed IRAs
- CMI Gold & Silver Gold IRAs
- Which Metals Can Be Put in a CMI Gold & Silver IRA?
- How Will You Get Your CMI Gold?
- Goldstar Trust Company
- Customer Reviews
- Conclusion
CMI Gold & Silver
CMI Gold & Silver Inc. is the oldest gold and silver dealer business in the nation. Its headquarters are in Phoenix, Arizona, and back in the 70s, it was one of the nation’s largest silver producers. This company was founded so that people had a reliable place where to trade silver.
In 1974, Americans were allowed to purchase gold bullion. This caused CMI Gold & Silver Inc. to expand its business and include gold bullion coins and other precious metal in its products.
Since it first started, CMI’s mission has been to give customers and clients honest, unbiased, and direct expert advice about buying and selling precious metals at a fair market value.
The main goal of CMI Gold & Silver Inc. is for its clients to fully comprehend the benefits and drawbacks of investing in precious metals.
CMI Gold & Silver Inc. has grown to be one of the most reputable companies in the nation, with more than 50 years of experience in buying and selling the four primary precious metals.
Since 1973, William Haynes has led the business as CEO, and to this day, the company continues to be a family-run business, as he added his two sons to the management team.
Gold's Background in America
Everyone who invests in gold and other precious metals must be familiar with the nation’s history of gold.
President Roosevelt issued an executive order in 1933 forbidding the storage of gold coins, gold bullion, and gold certificates within the United States.
This order was issued because the hoarding of gold limited the Federal Reserve’s capacity to increase the money supply, a key instrument for strengthening the economy during the Great Depression.
The so-called “gold standard” for American currency was dropped due to the presidential decision. However, in 1974, people were able to own gold once again.
Several unscrupulous gold and silver salespeople, particularly telemarketers, speculate about false government policies about individual gold ownership to affect the price of precious metals. We strongly advise avoiding these fake claims and only investing money you can afford to lose.
CMI Gold & Silver Inc. Precious Metals
You can invest in gold assets in various ways. Some are indirect investments through shares in gold companies, specialized mutual funds, or gold certificates.
On the other hand, direct investments in real gold are also an option. CMI Gold and Silver Inc. is an expert company in purchasing and selling reals precious metals. Some of the precious metals you’ll find in this brokerage firm are the following.
Gold assets are usually found in bullion coins and bars. This is the most popular physical gold investment.
Many mints and refineries across the world make gold bars. The most popular size is 1-oz. bars.
The trick to investing in precious metals is to purchase the easiest-to-sell forms at the lowest prices. This way, once the price of the metal goods increases, you will receive what is known as premiums.
Krugerrangds and American Gold Eagles are the most extensively traded and simplest to sell gold coins in the United States. Nonetheless, premiums on gold bars are often lower than those on gold coins.
On the other hand, silver tends to have better returns than gold in the precious metals bull market in terms of percentage gains, but it is heavier and bulkier than the yellow metal. This makes it more difficult to manage and store than gold.
The federal government’s most widely used silver coins are Silver Eagles, which the U.S. Mint creates. Although their “real” value is $1, people buy them based on their silver content.
In addition, the premium on these coins is always greater than those on typical silver bullion products.
Also read about Woodland Gold and Silver, another similar company.
Gold
The first money in the world was made of gold, which is still a common investment among those who wish to keep their assets safe. Coins used to be backed up by the government’s gold. Moreover, this is the most popular kind of precious metal investment.
Gold’s worth is expressed in troy ounces and is still regarded as a superior asset to exchange and store wealth, even if doing so isn’t as popular as before.
Also Read: What is the Smartest Way to Invest in Gold?
Investing in gold is similar to investing in stocks; you can purchase and hold gold bullion as money. Given its rarity, value, and accessibility, many experts believe it is a smart investment.
There are several methods for mining gold. This precious metal is commonly discovered in the crust of the Earth and processed into a variety of products, including bullion, bars, and coins.
Silver
Silver, long referred to as “the poor man’s gold,” has played a significant role in jewelry since ancient times. During the past several decades, since the price of gold has increased significantly and the price of silver has not changed, its worth as a precious metal investment has decreased. However, one of the top silver dealers in the U.S. is CMI Gold and Silver Inc.
Silver bullion has been a valuable asset for saving money, investing, and collecting for hundreds of years. Over time, its value varies and might get altered based on the law.
Although silver bullion is accessible for investment once it has been mined, processed, and coined, its value is much more volatile and changes every day.
Platinum
Platinum is another popular investment choice. The malleability of the metal allows it to be shaped into jewelry, coins, and other items. Also, it is highly uncommon, making it precious and rare.
Coins made of platinum are used for plating, dental fillings, and jewelry. It is also used in the production of portable medical equipment. Platinum coins are sometimes used to pay for many government services, so their corrosion resistance makes them one of the most popular investment choices.
Palladium
Palladium is one of the rarest and most expensive materials on the planet. It is one of the few precious metals that are naturally white, and it is highly corrosion-resistant. It is mined for financial gain, similar to mining for diamonds, because it is present in dust particles that fall to Earth through the atmosphere.
Investing in CMI Gold and Silver Coins
Investing in gold coins provides a defense against inflation and the current financial decline the world is suffering. However, investing in physical gold shouldn’t be confused with purchasing numismatic and collector coins, which some brokers sell for more than the value of the gold they contain because of how rare they are.
Gold coins, offered at reasonable rates, are the best way to invest in gold.
CMI Gold and Silver Bullion Bars
If you’re interested in a more effective investment method, gold bars are great because they offer lower premiums than gold coins.
You can find gold bars that range from 1 ounce to 100 grams. These are all 99.99% pure, which makes them IRA-acceptable. Kilo bars are popular among large investors because smaller ones tend to be sold over gold’s current market price.
CMI Gold & Silver Products
Products that include all the primary precious metals can be exchanged through CMIGS. However, keep in mind that platinum and palladium are not considered precious metals. Instead, they are primarily used in certain manufacturing industries.
However, few investors possess the specialized abilities to trade platinum and palladium. Unless an investor has substantial knowledge and experience trading platinum and palladium, we encourage them to focus on gold and silver trades.
The usual fees for carrying out gold and silver exchanges may vary depending on the type of gold or silver you buy and the transaction details.
Compared to industry standards, CMI Gold & Silver offers affordable costs, particularly for their IRA products. However, investors still have to pay several fees to open a Gold IRA. We will discuss these fees in the following section.
CMI Gold & Silver Self-directed IRAs
Congress approved the IRA law in 1974. This law implies that as long as you adhere to the annual contribution limits, your income can grow tax-free in an IRA.
Profits from “Traditional IRAs” are no longer taxed, and contributions are now deductible. Although withdrawals are taxed, most people only withdraw their funds once they retire because the tax rates are lower then.
The maximum donation per year is $6,000. You may, however, add an additional $1,000 once you turn 50 and a half years old.
Moreover, IRA custodians can invest in low-risk assets that the IRS has approved. This doesn’t represent too much of a hassle to them because these investments are pretty simple to manage.
Nevertheless, custodians are not required by law to do this, and most of the time, the owner of the IRA is more familiar with their investing goals and techniques than the custodian. Because of this, the self-directed IRA was developed. However, the pre-established contribution restrictions still govern self-directed investing decisions.
Other Self Directed IRA Companies You Can Read About:
Still, this is a fantastic perk for those who want to have greater control over their investments because they will be able to select the investments they want to make.
CMI Gold & Silver Gold IRAs
Self-directed IRAs were created due to the evolution of IRA laws throughout time. Nevertheless, since the law requires that unbiased third-party custodians hold physical assets, they cannot be stored at home.
The custodian’s investment options are restricted to equities, low-risk bonds, and money market accounts.
Certain IRAs can now invest in specific precious metals thanks to a change in the law approved in 1997. People can now invest in all sorts of precious metals coins and bullion and save them in their self-directed Gold IRAs, which were previously limited to U.S. gold and silver coins.
Which Metals Can Be Put in a CMI Gold & Silver IRA?
Only specific metals and bullion that meet particular purity requirements are included in the list of precious metals eligible for IRAs.
The purity of gold coins must be at least 99.5% to qualify for IRA investments. However, premiums on gold bars are lower than those on gold coins.
According to IRS requirements, bars must have a minimum purity of 95.5%. Nevertheless, the majority of gold bars exceed that minimum.
How Will You Get Your CMI Gold?
CMI uses US Postal Service registered mail to transport expensive goods. You can rest easy knowing that your gold will be delivered thanks to the Postal service. If your shipment is misplaced, CMI and USPS will resolve the situation.
CMI carefully selects a carrier for shipments, such as USPS or UPS. The corporation that sends the product must determine the cheapest shipping method, especially when it comes to worldwide shipping. The business should have offices all over the world so that anyone can get their gold and other precious metals. CMI makes sure these businesses have several warehouses, manufacturing facilities, and distribution routes so that shipping to diverse countries is much more straightforward and safe.
Goldstar Trust Company
Since IRAs were established, the U.S. government required gold bullion coins to be stored securely by a neutral third-party custodian. Nevertheless, the custodian is limited to investing in money market accounts, stocks, and bonds.
Suitable gold custodians include institutions such as banks, federally insured credit unions, savings and loan associations, and entities approved by the IRS.
An IRS-approved custodian of Gold IRAs, GoldStar Trust Company has a partnership with CMI Gold & Silver Inc. to safeguard its clients’ precious metals. In addition, GoldStar will only act in its client’s best interests while upholding its fiduciary duties.
Generally, CMIGS conducts the buy/sell activities while GoldStar Trust Company serves as the custodian.
Company Fees
Storage Fee
Regardless of the account amount, the annual Storage Fee is fixed at a minimum of $90 and equals 1% of all assets stored in the portfolio’s fair value.
This yearly charge is billed the same month the metals were purchased.
Administrative Fee
The annual administration fee is equivalent to .08% of the market value of the assets in the account. If you have $1 million in the account, the price is $50 minimum and $250 maximum. Therefore, you won’t have to pay extra administrative expenses.
Transaction and Setup Cost
You must pay a $25 setup fee when you create your account. Moreover, a $40 fee is applied to each transaction an investor makes in and out of their account.
Customer Reviews
Before purchasing precious metals from this company, you must check reviews from other customers to understand their perspective on the business service quality. Many clients who buy gold for the first time describe their experience in their reviews, which reassures others about the authenticity of the business.
Luckily, this business obtains several evaluations and reviews from its clients and consumers. The business also receives certifications and endorsements from several reliable websites.
Conclusion
In conclusion, CMI Gold & Silver is more than just a place to sell and buy precious metals. It involves investing in businesses with solid strategies, great silver ratings, a wide precious metals portfolio, lucrative goods, and experienced management teams. CMI is a pioneer and a leader in investing in precious metals.
CMI’s analysts and advisors have extensive knowledge of the precious metals market. This company is constantly upgrading its understanding of this dynamic sector. Therefore, it is qualified to advise its clients on gold and silver purchases.
If you’re interested in this particular business to purchase both physical bullion bars and IRA-eligible precious metals investments, you can check CMI Gold & Silver contact details address and get your silver coins at a fair market value.
The top way to safeguard your retirement is to open a precious metals IRA. Check out the below providers and request a free kit.
Company | Personal Findings | Review | Free Guide | |
 | #1 Goldco | Best Overall Rating (Where I Invested) | ||
 | #2 American Hartford Gold | Best Buyback Program | ||
 | #3 Augusta Precious Metals | Most Educational ($50,000 Minimum) | ||
 | #4 Noble Gold | Best Metals Selection |
About Arthur Karter
Hi, I’m Arthur, and nobody wants to wake up in their 50s like me that they are in serious debt with minimal assets. This wake-up call forced me to reevaluate everything. After going through the school of Hard Knocks, I’m ready to help you by sharing the best retirement choices and how they differ from all the same-old, same-old options that financial advisors sell. These alternatives will help you build and protect your wealth.
