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Indigo Precious Metals is a Singapore-based precious metals retailer that offers multiple different services. Their Singapore storefront is a massive tourist attraction, and their location is a tax haven. But are past customers actually satisfied with their experiences? What are the most important things to know before you get started?
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About Indigo Precious Metals
Indigo Precious Metals also operates under the name IPM Group. This company is an international precious metals trader. Like many other online precious metals retailers, their main goal is to deliver precious metals to their individual clients. They also deliver precious metals to secure depositories on behalf of their clients.
In addition to traditional gold and silver bullion, IPM Group sells a variety of platinum, palladium, and rhodium products. They sell to individual investors, financial advisors, institutions, and even familial trusts.
While the company is best known for its Singapore location, it actually has two other locations as well. The company is registered and able to sell bullion in Malaysia and London as well. They ship to an international clientele that covers the US, Canada, Europe, Asia, and South America.
According to the company website, these are some of the values and policies that they abide by:
The company sends special email offers and newsletters to customers who sign up for their mailing list.
You can place orders for bullion online, receiving live pricing updates without even needing to call for a quote. There are also several different currency options available for payment, making this ideal for international consumers. If you're in the UK, the London office also allows for convenient shipping.
There isn't any minimum for online orders. If you're planning to make a large purchase, the company encourages you to call to discuss your needs. Since Indigo Precious Metals buys directly from different refineries, they cut out the middle man.
Indigo Precious Metals does have excellent reviews from consumers online. The company provides minute-by-minute pricing for different precious metals. It is one of the easiest places to purchase precious metals through an eCommerce cart.
In addition to selling precious metals themselves, the company has its own storage services available in Singapore. Many investors prefer to store their items in Singapore because the country is a tax shelter with multiple privacy advantages.
One of the main company advantages is simplicity. They have worked hard to be one of the simplest eCommerce retailers on the internet. In addition, they work to offer multiple customer service options and user-friendly online help.
The eCommerce website is designed with simplicity and ease in mind. Unless you're planning to drop by the Singapore storefront, this website is where the transactions happen. The process of filling your cart and checking out is extremely streamlined, especially since the prices update in real time without needing a quote.
In fact, Indigo Precious Metals consistently changes and updates their website layout for maximum ease of use. Customers have praised the layout and the simple navigation. They say that the website has a lot of important information, but it's also not overwhelming to use.
Another aspect of the simplicity is in delivery. If you want to have your precious metals delivered to you, there are several ways to do that. Or you can store your metals in the company's secure depository.
Most reputable precious metals dealers have an experienced staff. But Indigo Precious Metals goes above and beyond. Not only do they have precious metals experts on staff, but they also have experts in banking, trading, and investment. Many of their staff members have worked in multiple countries and have experience analyzing the global economy.
The staff members are not just salespeople aiming to close a deal. Instead, they are people with a deep interest in precious metals. Their goal is to help their clients choose the right investment products for their needs. They do this by leveraging their financial expertise.
It's true that you can fill and purchase an online cart without ever speaking to a human being. But if you're a newer investor who wants input, you can call the customer service team and ask. They'll answer your questions and help match you to the exact precious metals product that works for your needs.
Every precious metals dealer claims to have low pricing. It's important to evaluate these claims by checking the spot prices of metals before you buy. Sometimes the "low prices" are actually marked up much higher than their worth.
But that doesn't seem to be the case with Indigo Precious Metals. Customers have noted that the company has some of the lowest prices compared to the competition. Since the prices are displayed on the website in real time, you're able to check them against the spot price and determine whether the markup is reasonable.
Indigo Precious Metals manages to keep their pricing low through a few different strategies. First, they purchase directly from refineries. This means that they don't have the same markup that you get when purchasing from a wholesale supplier or middle man.
That means that IPM Group functions as the only bridge between you and the refinery. Since refineries don't typically sell to individual investors, this is the smallest number of "middle men" possible.
On top of that, since the products come directly from the refinery, you know they haven't been tampered with or damaged by other handlers.
You can pay for your goods in six different currencies. As mentioned, that makes this company an ideal choice for international clientele.
When you create an account to shop online, you have the option to pre-fund it. This means that you can move funds from your bank account into store credit on your account. Then that store credit can be converted into precious metals purchases whenever you finalize your items.
This is advantageous because sometimes bank accounts take a long time to process transfers. That goes especially for customers in the US, where transfer clearing times are much longer than in Europe and Asia. By pre-funding the account, you're able to cut down on processing time and have your metals shipped faster.
You're under no obligation to use this feature if you don't want to. It's possible to check out using your banking information instead of a store credit balance.
Indigo Precious Metals will coordinate delivery of your precious metals to most areas of the world. They deliver to Europe, Asia, the US, Canada, and South America. If you're not sure whether your country can receive delivery, you can call the customer service team to find out.
Every package is shipped with full insurance, so you'll be compensated if the items get lost. There are several international shipping companies that may be used. For smaller deliveries, FedEx or UPS is an option. For larger deliveries, you might have your items transported with one of Brinks Global Services's armored vehicles.
The company does note that you are responsible for any potential taxes depending on your country. Some countries have taxes on imports or general bullion purchases.
If you're going to be in the Singapore area, there's also the option to pick up your order in person. You can go directly to the vaulting facility after making an appointment. Just make sure that you call ahead and schedule an appointment, so your package will be ready.
Indigo Precious Metals operates a fully accredited and secured storage depository located in Singapore. This is called Freeport. Their storage services are ideal for people who want to keep their precious metals in a tax shelter. You are the sole owner of all of your metals, so there's no financial risk if the storage company goes under.
There are multiple disadvantages to storing your precious metals portfolio at home. Not only is this not secure, but it also makes it difficult to liquidate. If you keep your metals in Indigo's vault, then it's much easier to liquidate when the time comes. You'll just get a buyback price and have them transfer the metals out of your personal vault.
Freeport was created and financed by a team of Swiss professionals. The vaulting system incorporates the strictest security standards, while also making use of beautiful architecture. Your account is kept confidential and private, sheltered from central banks and governments.
The facility is built at the Changi airport, which is already one of the most secure places in Singapore. Precious metals are delivered right from the airport's tarmac. The depository has four floors and covers 25,000 square meters.
Like many global depositories, clients have the option of visiting the vault itself. The architecture is a tourist attraction, and Indigo Precious Metals prides itself on its interesting sights. When you go to the depository, there are several services that are available to you.
If you set up an appointment, you can inspect your holdings in person. It's also possible to set a representative who will visit for you. You're permitted to take one photo of each bar in the vault, and you can also receive the serial numbers of each bar.
Similarly, you can collect your items in person. Again, you should call ahead to arrange the situation. If you're not in the area or are otherwise unable to come, you can have a personal representative get your metals for you.
As mentioned, there is always the option to have your items shipped to your global address as well. Each of the shipments has a full insurance policy and is coordinated using the most ideal logistics.
It's also possible for you to move your existing precious metals portfolio into your vault. You can arrange to have your metals shipped to the Freeport vault instead. The website says that people interested in this option should call to discuss details and coordination.
Other Vault Features
There are a few other features that you'll enjoy when you open an account with the Freeport vault. Among these are:
Is Indigo Precious Metals a Scam?
Indigo Precious Metals is not a scam. The company has positive reviews from past customers online. On Facebook, they have 5 out of 5 stars based on 7 reviews. On the third party website Feefo, there's a rating of 5 out of 5 stars based on 19 reviews.
Because the company is based in Singapore, they do not have a Better Business Bureau page. But they have been consistently well reviewed by other reputable organizations. Their storefront is very large and extremely well reviewed.
One of the positive reviews states that all of the staff are extremely knowledgeable, and there's no "hard sell." The customer service is good, with the representatives being attentive and considerate.
Another positive review points to the company's website. The customer stated that there was a great deal of helpful information available. It was easy to make a purchase and to get started with the process.
Whether you make a purchase online or in person, the customer reviews say that the professionalism is unparalleled. When paperwork is involved, customers are able to quickly go through it thanks to the expert staff members.
Pros & Cons of Indigo Precious Metals
There's no denying that Indigo Precious Metals is a company with a positive reputation and a long history in the business. Past customer reviews indicate that no matter whether you buy online or in person, the service is excellent. There are also services available that take advantage of Singapore's tax sheltering.
If you specifically want to purchase and store precious metals in Singapore, then this is one of the best companies we can recommend. Similarly, the storefront is worth visiting because of its multiple tourist features. And as far as online retailers go, Indigo Precious Metals seems to have fair prices.
However, there are a few considerations that American investors may want to take into account. If you intend to have your items shipped to you in the US, international shipping tends to be more costly than domestic. That's without even getting into the headache of having your package get through customs.
Another consideration is that Indigo Precious Metals does not seem to have IRA services. An IRA is a US-specific retirement account that adheres to very specific US tax laws. As such, most international precious metals dealers don't have the expertise required for these services.
So if you want to invest in precious metals by using your retirement savings, your best bet is to work with a retailer that actually specializes in these areas.
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