Provident Metals Complaints: Are They Legit? 

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Provident Metals, also known as the People’s Bullion Dealer, has established itself as a notable player in the precious metals market since its inception in 2009. 

Despite its success and a substantial customer base, Provident Metals has received mixed reviews across various consumer platforms. 

While many customers praise the company for its competitive pricing, high-quality products, and excellent customer service, there have also been complaints and negative reviews. 

This blog aims to provide a comprehensive overview of Provident Metals’ customer reviews, products and services, fees and charges, and address whether potential investors should be concerned about the complaints the company has received.

Are there any Provident Metals Complaints? 

Provident Metals has accumulated numerous reviews across various consumer business review platforms such as Trustpilot, Better Business Bureau (BBB), Yelp, and ShopperApproved. 

On BBB, the company boasts a 4.76-star rating based on 102 reviews, with customers largely expressing satisfaction. 

However, it’s noteworthy that there have been 10 complaints filed against Provident Metals in the last three years.

Here are some of the complaints:

1. A customer attempted to purchase approximately $1.5K worth of silver through Provident Metals’ online e-commerce platform. Despite selecting credit card payment three times, the system defaulted to a wire transfer. On the fourth attempt, the credit card option became available, but upon checking the order status, it reverted to wire transfer without allowing a payment method switch. After receiving an email requesting payment, the customer opted to cancel the order. Provident Metals cancelled the order but billed the customer’s credit card $32 without consent. The customer has since filed a dispute with their credit card company over the charge.

2. Another complaint dates back to June 23, 2021, when a customer ordered seven silver coins from Provident Metals. Checking the order status on July 9, 2021, indicated the package was on its way. However, by June 14, 2021, the customer contacted Provident Metals seeking a refund due to non-delivery. Despite the company’s policy stating refunds for undelivered packages, Provident Metals declined the refund request. The customer expressed dissatisfaction, citing the discrepancy between company policy and practice.

While Provident Metals has faced complaints, it’s noteworthy that the company has responded promptly to address issues raised by customers. 

This responsiveness underscores their commitment to resolving customer concerns and maintaining a positive reputation in the precious metals market.

What Provident Metals’s Customer Reviews Suggest 

In general, Provident Metals has received moderate ratings from various websites and organizations that offer reviews, ratings, and customer feedback about the company.

Better Business Bureau (BBB): Provident Metals holds an A+ rating with a 4.72-star average out of 5 stars on their BBB account. 

A total of 130 customers have reviewed them on the Better Business Bureau, with many customers providing positive reviews regarding the company’s service.

Trustpilot: Provident Metals has a rating of 2.6 out of 5 stars on Trustpilot, based on 3,680 customer reviews. This indicates mixed reviews from customers.

ShopperApproved: On ShopperApproved, Provident Metals has a 4.9-star rating based on 51,344 customer reviews. The majority of customers have praised the company.

Here are some recent reviews posted on Trustpilot, BBB, and ShopperApproved:

Top Choice for Bullion

One reviewer mentioned that Provident Metals is their favorite bullion dealer out of the half dozen they have tried. They have placed 23 orders with Provident, while their second-most favorite dealer only received their business 9 times. 

They praised Provident Metals for their great prices, customer service, and accurate product descriptions. The reviewer even had the pleasure of speaking with CEO Joe Merrick, whom they found to be very receptive and responsive.

Excellent Price Point

Another customer highlighted that Provident Metals not only sells bullion but also bullion jewelry. They appreciated that the company’s product prices fluctuate with the spot gold price, unlike other companies that claim to follow spot prices. 

The reviewer highly recommended Provident Metals for their honesty and transparency, giving them a 5-star rating.

Go-To Dealer for Precious Metals

A third customer shared that they have accounts with five online precious metals dealers and have used all of them, but Provident Metals is their go-to dealer for most purchases. 

They noted that Provident has good prices, great quality, and fast delivery. Although they haven’t sold to Provident yet, they look forward to doing so when their silver gains enough value. 

The customer recommended using a calculator to shop around and compare prices, suggesting that others will likely become Provident Metals customers as well.

However, it’s worth mentioning that the company has also received negative reviews. 

These reviews highlight some areas where customers feel improvements could be made, reflecting the mixed feedback Provident Metals has received on platforms like Trustpilot.

About Provident Metals 

Provident Metals, also known as the People’s Bullion Dealer, is headquartered in Dallas, Texas. Established in 2009, the company offers a range of precious metal products, including those made from gold, silver, platinum, copper, and palladium. In 2019, Provident Metals was acquired by JM Bullion.

The company has created a Precious Metal Investor’s Knowledge Center aimed at educating new coin collectors and investors on how to collect and invest in coins and bars made from these metals. 

This initiative reflects Provident Metals’ commitment to empowering investors with the knowledge they need to make informed decisions.

Provident Metals is a leading online retailer of both international and domestic bullion, currency, numismatic coins, and other metals. The company was established in response to customer demand for a trustworthy source to buy precious metals.

Provident Metals aims to meet the unique needs of bullion investors. They are dedicated to providing high-quality products and exceptional customer service. 

This commitment has enabled Provident Metals to become a premier online destination for sovereign and domestic bullion.

Products & Services Offered by Provident Metals 

Provident Metals provides investors and collectors with a diverse range of precious metal products. Here are some of the products available on their website:

• Gold Coins: Provident Metals offers a variety of gold coins from around the world, including American Gold Eagles, Canadian Gold Maple Leafs, South African Krugerrands, and Australian Gold Kangaroos.

• Silver Coins: The company provides a range of silver coins, including American Silver Eagles, Canadian Silver Maple Leafs, and British Silver Britannias.

• Platinum Coins: Provident Metals offers platinum coins from various countries, such as American Platinum Eagles, Canadian Platinum Maple Leafs, and Australian Platinum Koalas.

• Copper Rounds: They offer copper rounds featuring various designs, such as the Morgan Dollar and Buffalo Nickel.

• Palladium Coins: Provident Metals sells palladium coins, including Canadian Palladium Maple Leafs and Australian Palladium Kangaroos.

• IRA Eligible Products: The company also provides a selection of precious metal products eligible for inclusion in a self-directed precious metals IRA, including gold and silver coins and bars.

In addition to coins, Provident Metals offers a range of gold, silver, platinum, and palladium bars in popular sizes such as 1 oz, 10 oz, and 100 oz. 

The company also provides a variety of accessories for storing and displaying precious metals, as well as numismatic coins for collectors. 

Their selection of products is regularly updated, so it’s a good idea to check their website frequently for new offerings.

If you’re serious about investing in precious metals, you should start with this free gold IRA scam checklist. It will help you identify potential scams and invest safely.

Provident Metals Fees & Charges 

Provident Metals offers competitive prices on their precious metal products, but there may be additional fees and charges associated with certain services or products. 

Here are some fees and charges you may encounter when investing with Provident Metals:

• Shipping and Handling Fees: The company provides free shipping on orders over $199. For orders below this amount, there is a flat-rate shipping fee of $9.95. Additional charges may apply for expedited shipping.

• IRA Fees: Investing in a Provident Metals IRA involves fees for opening and maintaining the account, as well as fees for storing the precious metals in a secure depository. These fees can vary depending on the custodian and depository used.

• Credit Card Fees: Paying with a credit card may incur additional fees. Provident Metals offers a cash discount for payments made with a check, wire transfer, or Bitcoin.

• Bid/Ask Spread: When buying or selling precious metals, there may be a bid/ask spread, which is the difference between the price at which you can buy and sell the metal. This spread can vary depending on market conditions and the type of metal being traded.

It’s important to carefully review all fees and charges associated with your investment before making any decisions. 

Should you be concerned about Provident Metals’s Complaints? 

Despite the generally positive feedback, Provident Metals has faced some complaints, particularly on platforms like the Better Business Bureau (BBB). 

While the company boasts an impressive 4.76-star rating on BBB based on 102 reviews, there have been 10 complaints filed in the past three years.

However, it’s worth noting that Provident Metals has been prompt in responding to complaints, demonstrating their commitment to resolving issues and maintaining customer satisfaction. 

This responsiveness indicates a willingness to address and rectify customer concerns, which is a positive sign for potential buyers.

In conclusion, while there have been some complaints against Provident Metals, the company’s overall responsiveness and dedication to customer service suggest that they are committed to maintaining their reputation and ensuring customer satisfaction.