Last Updated on December 15, 2023 by Ben
Are you looking for a conservative way to invest your money? If so, you may want to take a look at Sprott Money. This company offers a variety of options for conservative investors, including both bullion and coins. Why not take a closer look at this company today? You may be surprised at just how much they have to offer!
Sprott Money Review – Everything You Need to Know
What is Sprott Money?
Sprott Money is a company from Toronto, Canada. They buy and sell precious metals.
The company offers products online and over the phone. It was founded by Eric Sprott in 2008.
Sprott Money offers precious metals IRA services to Canadians, and recently it started providing these same services in the United States.
Sprott Money Ltd. was created in 2007, and it is a company that deals with precious metals. It is one of the largest holders of bullion in Canada, and it is owned and operated by billionaire investor Eric Sprott, a prominent gold bug. Sprott is a well-known Canadian investor. He has been awarded many distinctions, including being appointed to the Order of Canada in 2013. He also runs Sprott Asset Management and a number of other companies that invest in precious metals and natural resources. He is a well-known expert in the industry.
Sprott Money is headquartered in Toronto. They only set off online or over the phone. They buy and sell gold, silver, platinum bars, coins, and wafers. They don’t provide financial advice, but they are knowledgeable about investing in gold and silver.
On their website, you can find a lot of information about the markets and what drives the price of gold and silver. The blog on Sprott Money is a great place to get educated and up-to-date on the markets for gold and silver. The Sprott Money site has a feature where you can chat with someone online. There are also customer service people who can be reached by phone if you have questions.
Sprott Founders & Management Team
President. Larisa Sprott has over 15 years of experience in the financial industry. She worked at Sprott Securities Inc. (now Cormark Securities) in Vancouver as an office administrator. Later she moved to Toronto and worked in research and corporate finance. Larisa worked at Sprott Asset Management for five years. During this time, she did many different jobs, including working with clients, selling, and marketing. In November 2007, she became an Investment Advisor and was responsible for taking care of rich people’s money.
Financial Controller. Wioletta Traynor oversees the day-to-day financial operations of Sprott Money and is responsible for ensuring maximum efficiency and effectiveness in achieving company objectives. She helps the business grow by implementing new services and controls. She went to Laurentian University, where she studied a Bachelor of Commerce (H.B.Com) program. She recently completed her CPA and CGA designations. She is currently working on achieving a post-graduate certificate in Accounting and Information Technology.
Operations Manager. Diana Fordjour is in charge of the day-to-day operations and making sure things go well. She makes sure that we’re doing everything and that it’s going well. She also buys products and makes sure they have enough of them to give to customers. Diana has a lot of experience with logistics, transportation, and customer service. She also has experience with human resources management for the Canadian Federal Government. Diana earned a degree in public administration and governance from Ryerson University.
Is Sprott Money A Scam?
Sprott Money is a good company that provides services and products, and it also offers educational services, including a podcast with its owner. The company is rated 5/5 and A+ in BBB. However, it does not have as many ratings and reviews as other precious metal companies. Believe it or not, ratings and reviews are very important when it comes to making decisions about investments in precious metals.
Sprott Money is a reputable company, and it has been around for more than ten years. It’s good to see that it has gotten a 5/5 rating from the BBB and an A+ rating. The company also offers educational services such as podcasts with its owner. The only disadvantage is that it doesn’t have as many ratings and reviews as other companies that sell precious metals. Reviews are very important in creating decisions about precious metal investments.
Sprott Money Products and Services
Sprott Money offers different types of precious metals, including gold, silver, platinum, and palladium. The company also offers the following IRA accounts:
- RESP – Registered Education Savings Plan
- RRSPs – Registered Retirement Savings Plan
- LIF – Life Income Fund
- TFSA – Tax-Free Savings Account
- RIF – Retirement Income Fund
- LIRA -Locked-in Retirement Account
There is not much information about the company’s fees.
Sprott Money Custodians and Storage
You can store your valuables at Sprott Money. You can find them in North America and in Langley, Toronto, and New Castle. And you can find them globally in George Town, Singapore, and Zurich.
Sprott Money offers storage services to its clients. The company charges the minimum annual fee of $200, plus applicable taxes. For monthly storage, the company charges a minimum of $16.67 plus tax each month.
Selling to the Company
Sprott Money also buys products from its clients. It buys investment-grade precious metals (99.9% gold and silver). The buy-back prices are based on the current market price and conditions.
Sprott Shipping/Delivery Information
You can have Sprott Money deliver your precious metals through Canada Post, FedEx, or other commercial couriers or by an armored carrier to a destination you designate.
Shipping silver or gold/platinum via courier service will cost $75 plus shipping and insurance (0.75% of the dollar value of silver and 0.4% of the dollar value of gold/platinum at the date your request was submitted). If you are shipping your package, then the costs will be different depending on the size of the shipment and where it is going.
Large orders will be shipped through an armored courier, arranged by Sprott Money.
Sprott Money Fees and Selection
Sprott Money does not charge commission for trades over $2000. For anything less, there is a $20/trade fee. Questrade charges Sprott a fee which is then included in the price that Sprott charges above the spot price. The prices for coins and bars vary, and the size of the trade and the type of metal both affect the price. You will get a quote when you call based on the current market price. Generally, premiums are higher on coins than they are on bars.
Because of the high quality and purity requirements for gold and silver, Sprott offers a limited amount. You can buy gold or silver from the Maple Leaf on certain days. Or you can buy a larger bar of them if you want to. The bars will be from a government-approved mint, and the source of the bar will depend on what is currently available in stock.
When you buy something, they will send it to the IDS storage facility near Toronto. They take good care of it and keep it safe. The IDS charges 1.5%/year of the market value of your bullion for storage and insurance fees. If you want, you can have your gold or silver delivered to you at any time. However, there are fees and taxes for early RRSP withdrawals.
Sprott is a company that the Better Business Bureau has approved. The company has a good reputation for customer service and quality products. They also have a solid reputation for not leveraging their assets or keeping them offshore.
Sprott Money Pros and Cons
- A plethora of choices. Sprott Money offers money that you can use to buy precious metals and collectibles. They also offer storage services.
- Available pricing. You can find the prices of precious metals products and storage services on the website for Sprott Money. When you order, you will know how much you are paying before it arrives.
- Customer service. The reviews for the company say that they provide superior customer service. Customers also have the chance to work with a representative who is dedicated to them, especially if they make large purchases or are high-value customers.
- Online and phone orders. You can order something online or by phone.
- No returns. Sprott Money allows you to get your money back if you are unhappy with it. But, there is a fee for this. The company will charge you $50 plus market loss charges. You can try to sell your order back to the company too, but the company doesn’t accept returns.
- Limited in-person service. Walk-ins are not accepted by Sprott Money. You need to make an appointment if you want to come in and talk to someone.
- Shipping. Sprott Money might use vendors for shipping. It advertises its insurance fees but not the shipping fees.
Sprott Money Ratings and Reviews
Below are the only reviews you can find about Sprott Money.
- BBB – 5/5 rating, A+ rating, and BBB accredited, with one review
There are not many complaints or reviews about Sprott money. The only website that you can find about the company is the Better Business Bureau.
This company has a rating of 5/5 stars, and the BBB says it is good. They also have one review.
This shows that the company is good and they provide all the things that you need.
Augusta Precious Metals
Augusta Precious Metals is a family-managed precious metals business. The company provides gold IRA services, which is a valuable service for their customers. They are proud of their extensive experience in the industry, which allows them to serve their clients well. Augusta Precious Metals is a company that helps people buy gold and silver. People can then store them in a metal IRA.
Augusta Precious Metals’ team is focused on assisting investors of all sorts in establishing a self-directed IRA that may contain precious metals, which is something other traditional IRAs do not allow.
American Hartford Gold
The American Hartford Gold Group is a company that deals with precious metals and is run by Sanford Mann (CEO) and Scott Gerlis (President). This firm, which was founded in 2015 and is based in Los Angeles, California, aims to help consumers diversify their assets and retirement plans with precious metals.
The American Hartford Gold Group offers a variety of retirement solutions to assist individuals in safeguarding and enhancing their retirement funds with staff, customer care, website, and publications.
Goldco aids people in preserving their wealth. They can make certain they have money, so they don’t end up destitute again. Goldco is a firm that performs this task. The Better Business Bureau has given them an A+ rating, and they’ve received Triple-A ratings from the Business Consumer Alliance because clients appreciate how they execute things, such as their dependability and ethical business practices.
Call to learn about how to preserve your money and reach your retirement objectives by using precious metals like gold or silver.
Sprott Money is an investment company that offers competitive rates, a mobile app for on-the-go investing needs, and an A+ BBB rating. However, they don’t have many customer reviews to read through. If you are considering the move into investments with them or want more information about what they can offer you, feel free to reach out to their team of experts, who would be happy to answer any questions!