Schiff Gold Review

Schiff Gold Review

Schiff Gold, sometimes also branded as SchiffGold, is a precious metals dealership run by Peter Schiff. It operates online and sells a variety of products and services. The entire company is modeled around Peter Schiff, a controversial influencer who often shares divisive political rhetoric to drum up views.

Peter Schiff is controversial even in the precious metals industry. Some people believe that he’s a disruptor who has a lot of important insights into how the industry works. Others believe that he’s simply using his larger-than-life personality to try to drive sales.

It’s undeniable that Peter Schiff understands a lot about precious metals and the economy. But the question is how much of his rhetoric he actually believes, and how much of his rhetoric is a sales pitch. Many other gold retailers don’t provoke quite so many questions in their policies.

  • Product Type: Precious Metals
  • Owner: Peter Schiff
  • Rating: 2.0/5

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About Schiff Gold

Schiff Gold Review

Schiff Gold is a precious metals dealer that sells a variety of physical products. In addition to traditional metals like silver, gold, palladium, and platinum, there are also sections on the website for barter metals and limited edition bullion. The company is run by Peter Schiff, a precious metals guru who is controversial in the industry.

According to Peter Schiff, he began the company because he wanted investors to have a more affordable and trustworthy means of purchasing precious metals. He was filling a gap that he saw in the precious metals industry. No matter how little or how much a client buys, Peter Schiff and his specialists will treat them with respect.

Peter Schiff has written a guarantee with four distinct points regarding the operation of his business.

First, he guarantees that the prices will remain low. He states that Schiff Gold’s prices will always compete with the most inexpensive competitors in the industry. Instead of advertising or buying tons of unique product, he purchases in bulk and lets word of mouth do the advertising for him. That cuts down on overhead costs.

Second, he guarantees that he will only sell gold products that he personally endorses. Peter Schiff doesn’t believe in taking risks when it comes to gold investment. So he only carries bulk amounts of the most popularly-chosen bullion globally.

As he is a risk-averse investor, Schiff also doesn’t offer any numismatic collectibles or rare coins. He doesn’t believe in buying coins at a high markup from their melt value. Schiff Gold doesn’t carry any products that Peter Schiff believes are too risky to be worth the reward.

Third, he guarantees that neither he nor his team members will engage in high-pressure sales tactics. There is no behavior centered around commissions or high sales volume. Peter Schiff promises that the only other people who work at the company are individuals who are truly passionate about precious metals, and about helping customers on an individual level.

Finally, he guarantees that everyone who works with the company will be given personalized service. He and his specialists work with long-term relationships in mind. Ideally, clients should want to come back in the future, whether to liquidate their assets, make further purchases, or just get information about the market.

He says that if a client ever finds themselves unhappy with the company’s service, they can get in contact with management directly. The issue will then be resolved.

There aren’t a lot of verifiable third party reviews of this company from past customers. So it’s difficult to determine how good the company is at consumer resolution, or at satisfying their customers in the first place.

Buying Gold and Silver

Schiff Gold Review

Schiff Gold has investment advice regarding buying precious metals. They recommend that if you’re a serious investor, you work exclusively with pure silver and gold bullion. Platinum and palladium coins and bars are commonly used in investments, and can even be put into an IRA. But Peter Schiff doesn’t recommend using those.

He also recommends that people only get the most popular coins from sovereign mints. His top recommendations come from the US, Canada, South Africa, and Australia. You can get both gold and silver versions of American Eagles, Canadian Maple Leafs, Australian Kangaroos, American Buffalos, and South African Krugerrands.

Peter Schiff repeatedly emphasizes that he doesn’t recommend buying collectible coins. However, he does have a note that if a client wants to go against his advice, he can try to source a particular coin for you. You might be better off buying from an actual numismatics dealer, though.

Paying with Cryptocurrency

When you make a purchase with Schiff Gold, you have the option to pay with cryptocurrency instead of with US dollars. You'll just need to follow a few steps.

The first step is to talk to a precious metals specialist with the company. You'll be given a quote for the order using US dollars. Then these will be converted into cryptocurrency based on the current conversion rate. A Bitpay invoice will be sent to your email.

All crypto transactions are handled through Bitpay. In addition to using Bitcoin, you can use Ethereum and Bitcoin Cash.

Your cryptocurrency quote will be locked for fifteen minutes. The payment will need to be sent from your wallet right away. You'll discuss the payment with your broker on the phone, and they will take you through the steps necessary to make the transfer. Your wallet must be Bitpay compatible.

As soon as the crypto payment is transferred, the order proceeds just like it normally would. You will be given an order confirmation. Once the package is sent, you'll be given tracking information. The package will be fully insured in case of issues during transit. You'll sign for it when it arrives.

Selling Gold and Silver

Schiff Gold Review

Schiff Gold has a buyback policy for prior clients. If you have bought any gold or silver through the company, they’ll buy it back once it’s time for liquidation. The experts at the company can give you advise on how to determine the value of your holdings, along with ways to sell the items.

In addition to buying back their own products, Schiff Gold will buy certain gold and silver products that were sold to you by other companies. According to the website, the company offers some of the most competitive buyback prices possible.

The company website shows the products that they are willing to buy back. If you’re interested in selling other products, you should call to find out whether Schiff Gold will make an offer. Peter Schiff might not be interested in buying certain collectibles or coins that he believes are poor investments.

The steps to sell the items are very simple.

First, you’ll get in contact with Schiff Gold. There are specialists available to talk over the phone, through email, or through the live chat on the website. You’ll discuss what you have to offer, including the condition of the product. Then you’ll be given a price quote and instructions for what to do.

Depending on your location, your next step will either be to drop the metals off or ship them to Schiff Gold. They can be shipped in an insured package through any carrier you prefer. It’s important to get a full insurance policy because if the items are lost in the mail, Schiff Gold will not be able to issue payment for your package.

There are several dropoff locations in the US and even internationally. These include:

  • Singapore
  • Zurich
  • Toronto
  • Dallas
  • Los Angeles
  • Las Vegas
  • Delaware
  • New York

If you do intend to drop off the products, you'll need to coordinate and schedule it with your specialist. There's a note on the website that not every product will be accepted at every location.

After the package has been received and the metals have been authenticated, Schiff Gold will send you your payment. They can do this either by mailing a check or by doing a bank wire transfer.

Storage Services

Schiff Gold Review

Schiff Gold does not own or operate a security vault themselves. However, the company has networked with several storage services. These storage companies operate vaults and facilities with locations all over the world. You can store your precious metals in segregated vaults, each of which has a full insurance policy covering the contents.

Peter Schiff always works with independent depository companies. These depositories are not associated with any particular central government or banking system. They have advanced security features including full-time guards, 24/7 cameras, and regular audits.

Some storage facilities have comingled storage. But Schiff Gold only works with vaults that provide segregated storage. This means that all of your items are kept separate from everybody else's. The exact coins that you put into the vault will be the same ones that you take out later. Nobody else will ever have access to your holdings, aside from you. If you have an IRA, your custodian will also have access.

The depository provides its own insurance policy. But then there's a second independent insurance policy that covers your things, offered by Transcontinental Depository Services. So even if something were to happen, and your items were to be lost or stolen or damaged, you'd be able to recoup the loss. Every vault undergoes regular auditing, and you're given quarterly reports regarding the value of your holdings.

Is Schiff Gold Legitimate?

Schiff Gold Review

Schiff Gold appears to be a legitimate business. Peter Schiff is certainly a legitimate investor, and he certainly has strong opinions about the precious metals industry. But all of his reputation for causing controversy doesn’t seem to have netted him a loyal following. That’s the only way to explain how little consumer feedback there is online.

We scoured multiple different websites trying to find reviews from past customers. Trustlink and Consumer Affairs both turned up empty. The Better Business Bureau page for the company has no reviews or complaints, nor is the company accredited. There was only one review on Trustpilot, which gave Schiff Gold one star.

The review was left in June of 2023. The customer said that the team at Schiff Gold had ripped him off. He had made a purchase of 90% silver coins, which were priced lower than many of the competitors like SD Bullion and APMEX. Instead of getting the coins that were promised, the customer received Standing Liberty Quarters, which were worn so thin that they were basically worthless.

The coins were supposed to have a certain weight. But they’d all been worn down until they were, on average, one gram under their target weight. Not a single one of the coins had a visible date. The customer stated that he had significantly overpaid based on the quality of these coins.

It’s worth noting that “junk silver” packages typically do contain coins that have been thoroughly circulated. The point of junk silver is that it hasn’t been kept in investment-grade condition. So this customer might simply have been confused about what he was buying. But he certainly was unhappy about how the product had been presented to him, so maybe the listing wasn’t clear enough about the items.

That is the only third party consumer review that we were able to find on any website. We did find a Reddit thread from 2019 in which someone was asking whether anybody had bought from Schiff Gold before. Replies were mixed, with a few people saying that they had, and a few people saying that Peter Schiff doesn’t run his company honestly.

Other than that, the vast majority of online hits for Schiff Gold appear to be blogs and articles of Peter Schiff talking to himself. It’s hard to tell whether anybody else is even involved in the running and management of the company.

Pros & Cons of Schiff Gold


  • Significant amount of educational resources, research, and analysis on the site.
  • Ability to sell your gold and silver.
  • Storage and estate sale services available.


  • Very few customer reviews available online.
  • Peter Schiff is a controversial figure who drums up business through his wild political statements.
  • Every service offered by the company is also offered by a company with a better reputation.

Final Thoughts

Schiff Gold is an odd company. It appears to be run entirely by Peter Schiff, based around his principles and political views. Peter Schiff often makes controversial statements to drive “rage clicks” and cause discussion. But he doesn’t seem to be very well trusted in his own industry.

We weren’t able to find any reviews of this company’s service, except for one complaint from a customer who claimed to have been ripped off. Even the Better Business Bureau hasn’t accredited the company. Nor have they received any complaints or reviews. It’s like there’s not a client base at all.

The most we were able to find online were a few Reddit threads discussing Peter Schiff and his company. Opinions seemed divided about whether he was a knowledgeable expert, or simply someone selling gold by stirring controversy. Some people seemed to believe that his political stunts are meant to convince people that the need to invest in gold is more dire than it actually is.

This probably is a legitimate business. And if you admire Peter Schiff, then you may enjoy working with him. But ultimately, we don’t recommend that you do business with this company. There are many other precious metals dealers with equal levels of education… that also have a lot more satisfied customers left behind. Reach out to one of those instead.

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