In the dynamic world of precious metals investment, Summit Precious Metals once stood as a notable contender. Specializing in the sale and purchase of gold, silver, platinum, and palladium, this Phoenix-based company offered a range of products and services, including precious metals IRAs, to investors seeking to diversify their portfolios.
Founded in 2008 by James Clark, Summit Precious Metals experienced considerable growth and recognition within the industry, facilitating substantial transactions annually. However, despite its previous prominence, the company ceased operations in 2021, leaving behind a legacy of service and expertise.
In this overview, we’ll explore the rise and fall of Summit Precious Metals, examining its offerings, leadership, and customer reception, shedding light on its brief yet impactful presence in the precious metals market.
What is Summit Precious Metals?
Summit Precious Metals was a company that specialized in the sale and purchase of precious metals, including gold, silver, platinum, and palladium.
The company operated as a precious metals dealer, offering a variety of products such as coins, bars, and rounds from renowned mints around the world.
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Also, the company offered services such as precious metals IRAs, where investors could hold physical precious metals in a tax-advantaged retirement account.
SPM had experienced significant growth and established itself as one of the top precious metals dealers in Phoenix, Arizona. However, the company is permanently closed in 2021, and its operations have ceased.
People Behind Summit Precious Metals
The Company was founded in 2008 by James Clark, who had prior experience as a precious metals dealer and financial expert. He had previously worked in the audit and advisory department at KPMG.
Under his leadership, the Company grew from a small local storefront into a nationally recognized dealer, facilitating more than $100 million per year in precious metals transactions. However, as previously stated, SPM is no longer in operation.
Information about the people behind the company is not readily available. As a privately held company, the company did not publicly disclose its ownership or management team. However, it is known that the company was based in Arizona and had been in operation since 2008 before permanently closing in 2021.
While the people behind the company are not known. Investors can still research and evaluate the reputation and customer reviews of other precious metals dealers before making any investment decisions.
How to Invest in Summit Precious Metals IRA?
As the company is permanently closed, it is not possible to invest in a Summit Precious Metals IRA.
However, if you’re interested in a gold IRA, there are plenty of expert teams readily available to help you.
You can learn more at our top gold IRA companies list.
Summit Precious Metals Products
While the Company has been permanently closed. They were known to offer a range of precious metals products for investment, including:
Gold, silver, platinum, and palladium bullion coins and bars, as well as numismatic coins and rare coins. They also offered IRA-approved products for investors looking to include precious metals in their retirement portfolios. It is important to note that other reputable precious metals dealers offer similar products. It is recommended that investors research different dealers and their product offerings before making any investment decisions.
Summit Precious Metals Fees and Charges
As the company has permanently closed, it is not possible to provide information about their fees and charges. If you are interested in investing in precious metals, it is important to research other reputable dealers that are currently in operation and to carefully review their fees and charges before making any investment decisions.
It is also advisable to consider other factors such as the company’s reputation, customer service, shipping and handling processes, payment options, and any available educational resources.
Summit Precious Metals Reviews and Complaints
The following are ratings and reviews for the company from the internet’s leading directories:
BBB Ratings:
This business has had 0 complaints and 0 reviews in the last 3 years. And has A+ Ratings in Better Business Bureau.
NOTE: The business is not listed in BCA and is even not rated on Yelp and Yellow Pages. Because this business has been permanently closed.
Summary Should You Invest with Summit Precious Metals?
Pros:
- None
Cons:
- No Better Business Bureau accreditation
- No longer in business
- No transparent management team
Based on recent information indicating that the company has permanently closed, we cannot recommend investing with them. It is essential for investors to exercise caution and diligence in selecting reputable dealers that are currently in operation before making any investment decisions.
There are many precious metals IRA companies present in the market that can help you safeguard your wealth.
If you’re interested in learning more, you can view our top recommendations.
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