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Provident Metals Dealer Review

Did You Know?

Provident Metals has been owned by four other companies (including JM Bullion), and that's the ones we know about. They have a very interesting path to being a major online bullion dealer and we detail it out for you below.

 

Provident Metals Payment Options

Credit/Debit Card

PayPal

Crypto

eCheck/ACH

Paper Check

Bank Wire

Provident Metals Shipping Policy

Price

Provident Metals offers free shipping on all orders over $199.00. Orders less than $199 incur a charge of $7.99. If you go with the standard shipping option, they will choose either USPS or UPS to ship your order.

You can also upgrade your shipping to USPS Priority or UPS 3-Day Air for a fee.

Couriers

Provident Metals utilizes UPS and USPS to ship orders. Their orders are shipped out of the A-mark facility in Las Vegas.

Insurance

“All orders are shipped fully insured.” They offer put signature required on any order of $1,000 or more.

International

Provident Metals does have a shipping to Canada page. If you’re a Canadian and are looking to buy bullion, you might double check the policy as their parent company JM Bullion doesn’t ship to Canada. Here’s the page for reference: Shipping to Canada.

Order Processing Time

“Most orders ship within 2-4 business days of your payment clearing.”Provident Metals Shipping Options at Checkout

 

Pricing Rating

3.5/5
Provident Metals gets 3.5 stars on our pricing rating. Before JM Bullion acquired them, they were much more competitive on pricing. But over time, JM has continued to raise their prices.

Selection Rating

3.5/5

Provident Metals also gets a 3.5 selection rating. They definitely have plenty of bullion to sell. However, their unique coin and round programs seemed to have gone away after the JM Bullion acquisition which hurts their rating here.

 

Provident Metals FAQs

Provident Metals gives a 5 business day refund policy. This means that once your order is received in hand, you have 5 business days to notify them of any issues with your order.

It should be noted that shipping charges are non-refundable.

Yes. Provident Metals charges sales tax on applicable orders. Please note, sales tax in our industry can be very confusing, so please double check the details for your state.

Provident has their sales tax information here: https://www.providentmetals.com/sales-tax.html

Yes, because JM Bullion now owns Provident Metals, they have the same Military Discount. The discount is lowest tier pricing on any quantity pricing.

So effectively, a military person gets the same price on one unit and a non-military person gets on 1,000 units. It’s a great deal.

You can see the full policy here: https://www.providentmetals.com/military-discount/

 

When you do a search for Provident Metals Coupon Codes, there are several sites that say they offer coupon codes.

One for example, offers $100 off for a competitor discount. You can certainly search for codes and try them out to see if you get lucky.

But our experience shows that most bullion dealers don’t have real codes like this and these websites are just gimmicks.

 

Yes. Provident Metals has been around for a long time. And even though some of their past parent companies have had a sketchy history, doesn’t mean they were actually sketchy themselves.

With over 1 million orders shipped and orders being fulfilled by A-Mark after the JM Bullion acquisition, this is definitely a trusted dealer to buy from.

Yes, Provident Metals does have a silver at spot starter pack offer. However, since the Covid-19 Pandemic, the offer has been out of stock.

You can find the offer here in case they offer it again in the future: https://www.providentmetals.com/buy-silver-at-spot-price.html

 

We could not find any storage depository offerings on their website. However, because they are technically owned by A-Mark/JM Bullion, you can assume they would offer the same service through Transcontinental Depository Service as JM Bullion does.

 

Yes, Provident Metals offers help setting up Gold & Silver IRAs.

They currently have a link to Preferred Trust Company, which we have never heard of before.

They also have helpful links to IRA approved gold, silver and platinum bullion.

You can learn more about their offering here: https://www.providentmetals.com/self-directed-ira-precious-metals.html

Provident Metals’ offices are located in Dallas, Texas. However, their fulfillment options are handled in Las Vegas, Nevada by A-Mark.

 

Provident Metals' Untold History

As early as 2009, Provident Metals has an about us page on archive.org that reads “ProvidentMetals.com, a subsidiary of Provident Precious Metals, LLC, was founded at the request of our customers who were seeking an online destination for purchasing precious metals and currency in an environment focused on security and service. From the ground up, Provident Metals was built to meet these needs.”

Knowing their story now and looking back, we can only assume that they began as a local coin shop. The reason we believe this is because they were really focused on collectible and graded items. Most bullion dealers don’t start off selling collectibles.

They had grown big enough in Lavon, Texas that they claim customers wanted a way to buy from them online. This isn’t a stretch considering how large Texas is geographically. Tex Metals is a great example of how big a dealer can get mainly focused on Texas.

It seems they grew big enough and fast enough to grab the attention of one of the largest gold and silver companies in the world; which was conveniently located in Dallas, Texas. Google tells us it was a mere one hour drive between the two companies.

Provident Metals Partners With Elemetal/NTR Metals

Who’s interest did they catch in Dallas, Texas? A billion dollar family owned precious metals dynasty by the name of Elemetal and several other subsidiaries like DGSE (Dallas Gold and Silver Exchange) and NTR Metals. You might know NTR from the Netflix series Dirty Money. Yep, Provident’s story goes that deep.

Some time around 2013, bullion stackers started noticing a change in Provident Metals and it started surfacing on popular forums like GoldIsMoney2.

Customers were reporting issues like this: “Never had a single issue with Provident. Most of my orders have taken between 3-4 weeks to arrive.”

There were other reports the parent company was in trouble: “We are currently under investigation by the SEC.” This was on the webpage of their parent or associated company.

There’s no doubt this time frame must have been troubling for Provident Metals. But they survived and powered through and became more known as “the bullion dealer for the people.”

Over time, they would launch very popular and exclusive series and build a massive and loyal following in the industry.

But unfortunately, they hooked their wagon to the wrong horse.

In 2017, their publicly traded parent company would get into a business ending situation with illegal gold smuggling from South America. Provident Metals themselves did nothing wrong, but since they were owned by the parent company they were in trouble.

Again, if you’re interested in the full story that inspired one of the Netflix Dirty Money Episodes, you can read the story here: Florida men charged in $1 billion illegal gold scheme

Unfortunately, Bloomberg’s original story that broke is now labeled for subscribers only. Lame.

Provident Metals Sold to Dillon Gage

When this happened, it started the real end of Provident Metals as the industry and their followers knew them. The parent company went belly up and Provident landed at another major gold and silver wholesaler: Dillon Gage, also in Dallas, Texas.

Provident Metals came out with an email September 12, 2017 with the email title: Exciting New Partnership, Products, and Bitcoin! Oh My!!!

Here’s the intro: “Thank you for your interest in and business with Provident Metals! We have some exciting news to announce! Provident has enjoyed nearly 8 years of continued success and improvement and we are excited to announce that we have been acquired by a group of private investors. They have signed a management agreement with one of the largest bullion wholesalers in the world, Dillon Gage, through 2022 to help improve inventory management as well as fulfillment operations.

This new development gives Provident the ability to offer a greater inventory selection and depth as well as maintain the service and creativity that you deserve.”

Crazy thing was, I never gave my email to Provident Metals. The email was sent to the email address that Dillon Gage had on file.

Provident Metals was trying hard to put on an outside appearance that nothing was wrong and they had this new great partnership. But it sure seems like they were desperate and had to sell to Dillon Gage.

This really started the unwinding of Provident and it wasn’t long until Provident Metals became for sell again.

Provident Metals Sells to JM Bullion

The relationship with Dillon Gage did not last long. In October of 2019, Dillon Gage sold Provident Metals to JM Bullion.

When JM Bullion bought the brand, they basically made the Provident Metals website look and feel like JM Bullion. The loyal Provident customers were not a fan.

And then about a year and a half later, JM Bullion was acquired by A-Mark. So technically speaking, A-Mark now owns Provident Metals.

Where is Provident Metals? Well, they appear to be on the decline. Provident pretty much always beat JM Bullion’s bullion prices. So when JM bought Provident, JM simply raised their prices and took them off the competitive chess board so to say.

Take a look at a 5 Year Google Trends Chart below:

  • Blue = Provident Metals
  • Red = SD Bullion
  • Yellow = Money Metals Exchange
  • Green = Silver Gold Bull
  • Purple = Bullion Exchanges

5 Year Provident Metals Google Trend Chart

You can see from the chart that Provident Metals and SD Bullion were essentially head-to-head competitors. And then after the acquisitions started, Provident began to decline.

Over time you can see they’ve essentially fallen to the lowest ranks of bullion dealers in regards to Google trends.

 

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