Sprott Money Review – Is It A Legit Precious Metal Company or A Scam?

Welcome to my Sprott money review.

What is Sprott money? Is this company legit? If you are wondering what is this company is, then you are in the right place.

In this review, we will take an in-depth review of Sprott money and see if this company is legit or it is just a waste of time and money.

This review will answer all your questions about the Sprott money and understand more about this company and see if it is a scam or not.

Here is the structure in this review:

  • What is Sprott Money?
  • How Does Sprott Money Work?
  • Sprott Money Reviews and Ratings
  • Is Sprott money a scam?
  • Final Thoughts

What Is Sprott Money?

Sprott money website

  • Name: Sprott Money
  • Website: www.sprottmoney.com
  • Founder: Eric Sprott
  • Price: depending on your investments
  • Recommended?: No

Sprott Money is a company that Eric Sprott founded in 2008.

The companies physical address is No Walk-Ins, 130 Queens Quay E.Suite #1224, Toronto, ON M5A 0P6 Canada

The company is based out of Toronto, Canada, and it is an international gold and silver bullion dealer that sell gold, silver, platinum, bars, and coins.

Other than precious metals, Sprott Money offers precious metals IRA services to Canadians. Recently, it launched these services in the U.S.

How Does Sprott Money Works?

There are two ways to invest with Sprott Money.

You can either open an account online or call them on the phone. It’s up to you.

I suggest opening an account online because it is much easier and faster, and you can also retrieve your order history and confirm your payments.

The company is partnered with Questrade, a registered investment dealer with IIROC.

So before you open an account, you must first open a Questrade account.

After that, you must fund your account with Questrade, fill out the authorization form, and eventually buy precious metal from Sprott money.

Sprott Money Products and Services

As you already know, Sprott Money offers various kinds of precious metals such as gold, silver, platinum, and palladium. 

With Sprott Money, these are the different types of IRA accounts you can open, and those are:

  • RRSPs – Registered Retirement Savings Plan
  • RESP – Registered Education Savings Plan
  • TFSA – Tax-Free Savings Account
  • LIRA – Locked-in Retirement Account
  • LIF – Life Income Fund
  • RIF – Retirement Income Fund

There isn’t much information about the company’s fees.

However, I found out that if you trade over $2,000, the company will not charge you any commission.

Sprott Money Storage Services

The company offers storage services to its clients. 

As for the storage fees, according to the company, the minimum annual storage fee is $200, plus the applicable taxes.

Furthermore, the minimum monthly fee is around $16 plus the applicable taxes.

Can you sell products to the company?

Yes, you can sell products back to the company.

The buyback prices are based on the current spot price and market conditions.

It buys investment-grade precious metals (99.9% gold and silver).

Sprott Money Reviews and Ratings

There aren’t many complaints or reviews about Sprott money, and the only website that I can find about the company is Better Business Bureau(BBB).

They gave a 5/5 star rating, A+ rating, and BBB accredited, with 1 review.

This shows that the company is good and they provide all the things that you need.

Sprott money BBB

Is Sprott Money A Scam?

No, Sprott Money is a legitimate company, and they have been around for more than 10 years.

As you can see with BBB, they gave a 5/5 rating and A+, which is good. 

Also, the company offers educational services, which include a podcast with its owner.

The only downside is that it doesn’t have enough ratings and reviews compared to other companies that sell precious metals.

Reviews are very important in making decisions on precious metal investments. 

Pros

  • Good products and services
  • The company has been around since 2008
  • Excellent rating with BBB

Cons

  • Lacks online reviews and ratings

Final Thoughts

I hope my review has provided you sufficient information about Sprott Money and provided you the answer to all your questions.

The company has been around for 13 years now, and they got a good rating with BBB.

As I said earlier, the only downside of this company is that it doesn’t have enough reviews compared to other precious metals companies.

If you are looking for a better alternative, then click on the button below to see our #1 recommendation

Thank you for taking the time to read my Sprott Money review. If you have any questions or experiences with this company, please share in the comments below.