Disclaimer: This post does not serve as financial advice. The proprietors of this website may receive compensation for recommending specific precious metals companies. The content on this website, which may include positive evaluations of these companies and other reviews, may not be neutral or independent.
Sprott Money, a reputable Canada-based precious metals dealer and investment firm, has generally maintained a strong positive reputation, underscored by an impressive A+ rating from the Better Business Bureau (BBB) and high customer ratings across various platforms.
However, like any business, it has faced some complaints from customers.
These grievances often focus on issues related to payment methods and technical difficulties during transactions.
While the overall feedback for Sprott Money remains largely positive, understanding these complaints and how the company addresses them provides a more comprehensive view of their customer service and operational transparency.
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Are there any Sprott Money Complaints?
Although the company maintains an A+ rating from the BBB, it has encountered some discontent from customers, particularly regarding their payment methods, as seen in complaints on ShopperApproved.
One customer reported difficulties while trying to make a purchase on a mobile device using the latest Brave Browser and a VPN.
The customer was unable to enter credit card details in the designated boxes and, after several minutes of frustration, had to switch to a laptop with the same browser and VPN to complete the transaction.
Despite such complaints, the company makes efforts to resolve customer concerns. For instance, a sales representative can assist by placing orders over the phone, providing an alternative solution for customers experiencing transaction issues.
What Sprott Money Customer Reviews Suggest
Sprott Money has earned an impressive average rating of 4.8 out of 5 stars on its own website, reflecting strong customer satisfaction. Reviews across various platforms further underscore the company’s positive reputation.
On the Better Business Bureau (BBB), Sprott Money holds an A+ rating, with a customer rating of 4.25 out of 5 based on four reviews.
Trustlink features a single review, giving the company 3.7 stars. ShopperApproved displays a high rating of 4.8 stars from 1,902 reviews.
Despite the overwhelmingly positive feedback, there have been some complaints. Notably, a complaint on ShopperApproved focused on issues related to payment methods.
However, Sprott Money has been proactive in addressing and resolving such problems, demonstrating their commitment to maintaining high customer service standards.
This approach helps reassure customers that the company takes their concerns seriously and works diligently to find solutions.
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About Sprott Money
Sprott Money, a Canada-based precious metals dealer and investment firm, was founded by Eric Sprott, a notable figure in the resource investment sector.
The company offers a wide range of products and services related to precious metals, including gold, silver, and platinum.
Sprott Money sources its products from reputable mints and refineries, ensuring both authenticity and quality. These products are available for purchase online and at their physical retail locations.
The company also provides secure storage solutions for precious metals through partnerships with leading storage facilities, offering investors the option to store their assets in various locations worldwide.
Beyond bullion sales, Sprott Money offers investment advice and market insights. They regularly publish commentary, analysis, and research reports on the precious metals market.
The company aims to help both individual and institutional investors diversify their portfolios and preserve wealth through the acquisition and ownership of physical precious metals.
Products & Services Offered by Sprott Money
Sprott Money offers a variety of IRA-approved coins and bars, primarily focusing on gold and silver investments.
While their inventory includes collectible coins, the selection of platinum options appears to be more limited. Below are some examples of the IRA-approved products available from Sprott Money:
Gold:
- Gold Australian Kangaroo
- Gold American Eagle
- Gold Canadian Maple Leaf
- Gold Britannia
- Gold Austrian Philharmonic, and more.
Silver:
- Silver Canadian Maple Leaf
- Silver Austrian Philharmonic
- Silver Canadian Antelope
- Silver Australian Koala
- Royal Canadian Mint Silver Bar, and more.
Platinum:
- PAMP Gibraltar Platinum Coin
- American Eagle Platinum Coin
- Canadian Maple Leaf Platinum Coin
- PAMP Suisse Platinum Bar
- Platinum Kangaroo Coin, and more.
Sprott Money Fees & Charges
Sprott Money clearly states all fees in both Canadian and U.S. dollars for transparency and convenience. The accepted payment methods at Sprott Money include:
- Certified check
- Cashier’s check
- Personal check
- Bank draft
- Money order
- Bank wire
- E-transfer
Bill payments (accepted from BMO, RBC, Scotiabank, National Bank, and several others)
However, beyond these payment methods, there is limited information available on the website regarding specific fees and charges.
This lack of detailed fee information may be problematic for many investors, as transparency in fees is crucial for evaluating investment returns and making informed decisions.
The absence of comprehensive fee details on the Sprott Money website can make it challenging for investors to fully trust the company. Generally, it is advisable to only engage with companies that are fully transparent about their fees.
Insurance Fees
Sprott Money does provide information about insurance and shipping fees on its fees page. These fees are applicable when shipping precious metals to clients in both Canada and the United States:
- Gold: A flat rate of $15 plus 0.4% of the gold’s value.
- Silver: A flat rate of $30 plus 0.75% of the silver’s value.
- Platinum: A flat rate of $30, with insurance coverage provided by SM Ltd.
Combination of Gold, Silver, and Platinum: A flat rate of $30, 0.4% of the value of gold, and 0.75% of the value of silver. Platinum is covered by SM Ltd.
Should you be concerned about Sprott Money Complaints?
Sprott Money enjoys an A+ BBB rating and a high average rating of 4.8 stars on their website, reflecting strong customer satisfaction.
However, there are occasional complaints, particularly regarding payment methods like difficulties with mobile transactions using specific browsers. The company addresses these issues by offering phone support for placing orders.
Founded by Eric Sprott, Sprott Money is a Canadian firm specializing in IRA-approved gold, silver, and platinum products sourced from reputable sources. They offer online and retail sales, along with secure global storage solutions.
While fees and charges are transparently listed in Canadian and U.S. dollars, detailed fee information may not be fully disclosed on their website, which could be a concern for some investors.
Despite minor complaints, Sprott Money is well-regarded for resolving issues promptly and maintaining a robust customer service reputation.