Last Updated on February 15, 2024 by Ben
CMI Gold & Silver
CMI Gold & Silver is a company that buys and sells precious metals. They are experts in the field and offer top-quality services to their customers. CMI Gold & Silver is dedicated to providing the best customer experience possible. They offer a wide variety of products and services to choose from, whether you’re looking to buy or get rid of precious metals. CMI Gold & Silver is a perfect choice!
CMI Gold & Silver – Deceptive Marketing to Lure Clients
What is CMI Gold and Silver – Overview
CMI Gold & Silver Inc. is a precious metals dealer based in Phoenix, Arizona, that has helped many people learn about and invest in gold and silver. Although domiciled in Phoenix, CMIGS serves investors from all across the United States, including Mesa, Scottsdale, Gilbert, Chandler, Glendale, Peoria, and Sun City.
As a gold and silver dealer, CMIGS’ goal is to assist and direct investors into the precious metals that best match their investment objectives while also providing the greatest discounts. This includes advising investors on which precious metal, according to CMIGS, has the most positive upside potential.
They claim to only recommend precious metals investments that they feel will generate the most money for you, not the ones that provide us the highest revenue. They also understand that many individuals acquire precious metals as “insurance.” In such circumstances, they propose the precious metal they feel is most likely to fulfill those objectives.
About the Management
CMIGS is led by president Bill Haynes. He has been in charge of the company since it started up in the early seventies. Bill has a Bachelor of Science degree in Finance from the University of Colorado. CMIGS is a family company. Bill’s two sons are in charge of some departments. Mike Haynes is in charge of sales, and Adam Haynes is in charge of marketing.
CMI Gold & Silver Contact Details
Address: 3800 North Central Ave., 11th Floor, Phoenix, Arizona, 85012
Local Phone: (602)-234-2300
CMI Gold & Silver Ratings and Complaints
The following are the websites that provide ratings and reviews for CMI Gold and Silver.
- BBB – A+ rating and no complaints
- BCA – B rating, no reviews
- Yelp – 5/5 rating with two reviews
Despite the fact that buyers praise CMI Gold and Silver’s products, their ratings and reviews are rather modest when compared to other firms.
CMI Gold & Silver Prices and Products
CMIGS gets rid of gold and silver bullion bars and coins. Some of these are approved to be deposited into an IRA account, including:
Gold and Silver Bars
Gold and silver bars are widely used for investment since they offer a lower premium than gold and silver coins.
The bars are available in 1-ounce, 10-ounce, one-kilo, and ten-kilo sizes. They’re all 99.99% pure. Only 1-ounce and 10-ounce bars were previously offered. Today’s kilo bars are frequently purchased by big investors.
Usually, smaller gold bars have greater markups above the spot.
American Gold Eagles
American Eagle Gold Bullion Coins are the world’s bestselling gold bullion coins. The American Eagles are 22-karat (91.67% gold, 8.33% copper) and come in four different sizes: 1-oz, 1/2-oz, 1/4-oz, and 1/10-oz.
American Gold Eagle Bullion Coins are 22-karat, so they do not get scratched, dented, or dinged. This is because 24-karat coins can scratch easily and lose gold when used in commerce. Traditional Western World people like alloyed coins because less gold is lost when alloyed coins are used in commerce.
Double Eagle gold coins, which were the $20 gold coins used as money in the United States until 1933, are made of 90% gold and 10% copper. The US Mint minted all old US gold coins with the same alloy. An alloy that is 90% gold and 10% copper is often referred to as 900 fine gold.
Old European coins are often 90% gold, such as Austrian 100 Coronas, Hungarian 100 Koronas, British Sovereigns, and the 20-franc gold coins minted by several European countries. Mexican 50 Pesos gold coins also are 900 fine gold.
American Silver Eagles
The American Silver Eagle is a $1 coin that is often called the American Eagle silver dollar. However, in the coin business, these coins are more commonly referred to as Silver Eagles.
Since Silver Eagle bullion coins were introduced in 1986, over 400 million of them have been minted, making them the most popular government-issued 1-ounce silver coins.
Each Silver Eagle hold contains 1 ounce of silver and has a symbolic value of $1. However, in the coin industry, “silver dollars” refers to old silver dollars minted 1878-1904 and 1921-1935.
The U.S. Mint is allowed to sell Silver Eagles at prices that are above the one-dollar face value because the law classifies them as “numismatic.”
Backdated Silver Eagles
Silver Eagles are special coins. The front (or the face) has a picture of an eagle. If you put these coins in your hand, then one silver dollar will show up. But that is not true because the value of these coins is much more than that!
Call (or email) for the prices and availability of these and other products.
Even though platinum and palladium have never been used as money, many analysts believe they are good hedges against a decline in the dollar. The latest GFMS Platinum & Palladium Survey found that palladium has much more favorable fundamentals than platinum.
Platinum is being sold in lots of places, but there are not that many palladiums around. It is expected that this will happen in 2014.
CMIGS does not always sell metals that can be stored in an IRA. For example, they sell 90% pure silver coins that are not eligible for an IRA. There is also the least investment amount of 5 oz. for gold and platinum to store with them in your account.
The company helps people save for their retirements by setting up and funding IRAs through its affiliation with the GoldStar Trust Company. People who want to invest have the choice of opening an IRA account with GoldStar. They can then put money into the account to buy precious metals from CMIGS. These metals will be deposited directly into their IRA account with GoldStar.
GoldStar Trust Company charges the following fees:
- Annual Administrative Fee: The administrative fee for storing your assets in this account is .08% of the fair market value of your assets. The minimum fee is $50, but it is capped at $250, so you will never pay more than $250 in administrative fees regardless of how much money you store in the account.
- Annual Storage Fee: Setting your account minimum at $90 will ensure that you are charged 1% of the fair market value of your assets, no matter how high your account value may be. This fee is billed every year and is based on how much metal was deposited in the past. For example, it costs $1,000 per year to store $1 million.
- Setup Fee: one-time charge of $25.
- Transaction Fee: There is a $40 fee for each buy or sell transaction in or out of the account.
How Does CMI Gold & Silver Work?
The company has a policy that all purchases must be placed by phone; therefore, the precious metals prices are volatile. When it comes to metals, items must be sent the same day they are sold. Payment may be made by bank wire transfer or cheque for CMI.
CMI sends the buyer a tracking number and an anticipated arrival date after an order is sent.
The items and services offered.
- American Gold Eagles
- Gold and Silver Bars
- Backdated Silver Eagles
- American Silver Eagles
CMI Gold and Silver provides assistance with establishing an IRA account through GoldStar Trust Company. The client may purchase goods from the firm to deposit in the IRA account once the funding has been authorized.
How to Get Started?
Unfortunately, CMI Gold And Silver does its business over the phone. The main reason is that the prices of metals change by the minute. All orders must be set over the phone (855.629.4012) so that the prices are locked in. The company accepts a check or a bank wire transfer as payment. Orders less than ten ounces of gold, platinum, or palladium and 500 ounces of silver need to pay $30 for shipping, insurance, and handling.
CMI Gold and Silver Pros and Cons
- Wide variety of products
- It has existed in business for a long time
- Lacks rating and reviews
- Cannot order online
What Makes CMI Gold & Silver Unique
CMI Gold & Silver Features
This application provides viewers with four features that should be of interest to all precious metals investors. One, they can view live, up to the minute, spot prices for gold, silver, platinum, and palladium. There are two interactive charts that will give you a historical perspective of price action. There are also three links to the latest blog posts, which are written in an easy-to-read format. They also have some specials for investors who want to buy at the smallest premiums over the spot.
Augusta Precious Metals
In 2012, Augusta Precious Metals was formed to help its customers make the best financial decisions possible so that they may have a secure and pleasant future.
To begin, the firm gives a full money-back guarantee on its precious metals, including gold and silver coins, to first-time clients. If you have any questions about your purchase, you have seven days from the date of delivery to request a total refund.
The company can also aid with the sale of your metals from storage. They’ll liquidate your account’s precious metals and send you the money via wire transfer so that you may acquire what you need as soon as possible. Rather than selling the metals to August Precious Metals, you may choose to have them delivered to you faster.
American Hartford Gold
American Hartford Gold is a family-run investment company that assists people in investing in precious metals. The firm, which is based in Los Angeles, California, has been assisting investors since 2015. They concentrate in gold and silver IRAs and offer bars and coins at reasonable rates.
Investors’ needs are always taken into consideration by American Hartford Gold. These days, everything is about convenience, and they understand this. They’ll deliver straight to your home, or you may have the metals sent to an IRA, 401K, or TSP account of your choice. Having these convenient alternatives accessible at all times puts investors’ minds at ease.
It’s simple to get started with American Hartford Gold. They take pleasure in providing a three-step process that allows you to invest in precious metals right away.
Goldco assists its clients in protecting their present retirement funds by shifting existing retirement accounts to gold and silver IRAs. It’s fair to say that Goldco is an authority on gold IRA providers. Goldco enjoys a solid reputation among clients, and it’s easy to understand why. Goldco’s white-glove service is unrivaled.
One of Goldco’s strongest selling points is their customer service, which they take great pride in before, during, and even after you open an account with them. They point out a few occasions when they assisted new clients in the process of setting up a gold IRA and rolling over existing funds.
CMI Gold & Silver is a long-established and trusted precious metals dealer based in Arizona but covering all the US. They sell both physical bullion bars and coins, as well as offering them within a precious metals-backed IRA, and they advise on building a precious metals portfolio tailored to an individual client’s needs. If you’re interested in investing in gold or silver for your retirement plans, contact them today!