Precious metals investments are more popular than ever before, and one bullion dealer that sells gold and silver to people around the country is Cornerstone Asset Metals. Though Cornerstone Asset Metals offers precious metals, there are not many reviews online, and some of the reviews we have seen are not great.
Is Cornerstone Asset Metals a good company for those interested in precious metals investing, or is it best to choose another company? We did the research, so keep reading to find out what we think.
Cornerstone Asset Metals – What is This Precious Metals Company All About?
Cornerstone Asset Metals has been a part of the precious metals industry since 2009. It is operated by Terry Sacka, who is a certified Asset Management Specialist, and he also hosts a podcast that explores investing. Additionally, he hosts a television show called “Wealth Transfer,” which is available on syndicated TV or on YouTube.
One thing that Cornerstone Asset Metals does well is educate people about the precious metals industry. There is a free gold kit, and educational resources explaining how precious metals IRAs work. There are also educational resources that explain the precious metals investment requirements for IRAs. Many of these resources are linked to Terry Sacka’s videos and content, but there is not a lot of info given about what products are available from this company.
If you want to buy from Cornerstone Asset Metals, you need to call the company directly. Cornerstone Asset Metals distinguishes itself from other companies in this way, as almost every other company in the precious metals market lists their products on their website.
Is Cornerstone Asset Metals a Legitimate Company?
Cornerstone Asset Metals is, indeed, a legitimate company. The company is licensed out of Jupiter, FL, and there are reviews for the company out there, though customer satisfaction is quite mixed.
If we look at the Better Business Bureau, the company is listed, but it is not accredited.
TrustPilot, a trusted consumer review site, has reviews for Cornerstone. There are seven reviews on the site, and the company has a 4.2/5 star rating.
Google also has reviews listed for Cornerstone Asset Metals. There are five reviews for the company here, and the average rating is 3.4/5 stars.
What is very strange, however, is the company has been around since 2005, well over a decade, and there are only 12 reviews on major sites.
Major Customer Issues
In the past, there were reviews on the internet about Cornerstone Asset Metals that were very negative, and many of them have been removed. I think it’s important, however, to fully disclose everything when writing a review, as your financial security is at stake.
Review #1
One of the most scathing reviews comes from a customer who previously recommended the business to others, and now he is warning people to stay away.
This customer stated that he did not do his research before investing in tangible assets like silver, and that’s on him. He said that he bought the silver through Cornerstone Asset Metals and he was charged a markup of about 18%. Cornerstone does offer a buyback guarantee, so when he went to sell the metal back to the company, there was a markdown of about 4% off the spot price. Basically, he lost a lot of money despite the company’s commitment of stating fair pricing.
This customer was very disappointed in himself for not doing the research needed beforehand, and he was further disappointed that he had recommended the company to people he knew who were ready to meet their investment goals and financial objectives.
Review #2
Another negative review was also mentioned on several other sites. The customer in this case was ready to start investing, and he was pulled to Cornerstone Asset Metals based on religious sayings and Bible quotes, which made the company seem like it could be trusted for investments and retirement planning.
However, once the man started talking to the sales team, with the intention of making strategic investments, he was blindsided with overpriced metals that were well out of his budget, even though he was upfront with the company from the start. He also claimed that the company pushed him to buy with a lot of false promises.
Though Cornerstone Asset Metals might be a legitimate company, there are very few positive reviews. People often invest in precious metals expecting a huge tax saving/tax advantages, portfolio diversification, or to avoid too much market volatility. Metals are meant to be used for wealth protection and as safe haven assets. However, when a company has so many issues with reviewers, it’s likely best to look at other investment options and research so you make more informed decisions.
Government Action – A Poor Track Record
There is another thing to keep in mind when considering Cornerstone Asset Metals – though the company stands firm that it’s a good business, the government has taken action against them. In July, 2021, Minnesota fined the company because it broke the law. In Minnesota, you cannot sell bullion without a license, and you must fill out paperwork with the Department of Commerce.
The company was accused of selling gold bullion without filing the paperwork that is required. There were also allegations that the state attempted to get more information from the company, but Cornerstone did not respond.
Eventually, Cornerstone Asset Metals agreed that they were wrong, and ended up paying $10,000 in fines. They also has to pay other fines, too.
Pros & Cons of Working With Cornerstone Asset Metals
Pros
- The company has a diverse range of educational resources that explain everything from meeting financial goals and staying safe during times of economic uncertainties to setting up a self-directed IRA
Cons
- Very few reviews and expert insights about the company
- The reviews that are available are mostly negative, as the company doesn’t have a strong reputation
- Customer report very high markups and dishonest sales pitches
- Government issues in the State of Minnesota
There are far better options, in my opinion, than this firm. I recommend choosing one of our vetted companies like Augusta’s Gold IRA, or the company I invested with, Goldco. Both are renowned in the industry.
Key Takeaways About Cornerstone Asset Metals
We cannot recommend Cornerstone Asset Metals. The company might be an option for some, but if you are looking at historical performance and making investment decisions, this is not the company we would recommend. Though many people like to take advantage of metals during economic downturns and falling market trends, it’s also important to make well-informed decisions.
There are many other companies that offer precious metals for individuals seeking investments. We definitely recommend other companies over Cornerstone Asset Metals. Based on customer feedback, alone, really the only thing this company offers is a wide range of educational materials. Investors should certainly use caution here.
About Tim Schmidt Sr.
Tim Schmidt is an Entrepreneur and Serial Investor. Since 2012 he’s been an advocate of alternative investments using a Self Directed IRA. His work has been featured in Yahoo! Finance, USA Today, Business Insider, and Tech Times, among others.
