Sprott Money Review

Sprott Money is an online precious metals dealer catering to the needs of investors who want to diversify in gold.

The company offers competitive pricing and investor resources but has a high order minimum to qualify for free shipping.

Learn more about Sprott Money’s offerings.

The Verdict for Sprott Money

I’ve given them a rating of 8.5 out of 10.

Sprott Money is a longstanding precious metals dealer in the industry.

The company offers competitive pricing, a good buyback program, and educational resources, but lacks feedback and reviews from existing customers.

Before making a purchase, read more to understand whether or not Sprott Gold is right for you.

Category	Rating (out of 10)
Product Offerings	8
Pricing & Fees	9
Security & Insurance	9
Customer Experience	8
Shipping & Delivery	8
Partnerships & Affiliations	9
Reputation & Reviews	9
Overall Rating	8.5

In this review of Sprott Money, I’ve followed GIC’s detailed criteria for evaluating a precious metals dealer.

About Sprott Money Ltd.

Sprott Money Ltd. is a global asset management company founded by Eric Sprott in 1981.

Sprott Money is a precious metals dealer that has provided precious metals to investors since 2008.

Based in Toronto, Sprott Money’s parent company Sprott Inc. serves 250,000 customers globally and manages approximately $31.5 billion in assets.

The company’s goal is to provide investors with a secure and reliable way to purchase and store precious metals.

Sprott Money is recognized for having a strong reputation in the industry, competitive pricing, and commitment to investor education.

The company was founded in 2008 by Eric Sprott, an investor who is known for having a bullish stance on gold and silver.

He predicted the 2008 financial crisis and founded Sprott Money out of a larger asset management firm in order to help investors make smart choices to protect their money.

His daughter, Larisa Sprott, has served as President since 2009. She brings over 25 years of financial industry experience, previously working at Cormark Securities and Sprott Asset Management.

Her focus has been on increasing awareness and building loyal customers,

Sprott Money has an A+ rating from the Better Business Bureau and has been accredited since 2011.

Product Offerings

Sprott Money offers a variety of gold, silver, and platinum products to choose from including bullion coins and bars.

Some of the company’s offerings include:

• Gold and silver American Eagle coins 
• Gold and silver Canadian Maple leaf coins 
• Silver British Brittnania coin 
• Silver Australian Kangaroo coins
• Gold American Buffalo coin 

While Sprott Money doesn’t offer palladium, it does offer numismatic coins.

You can invest in collectible coins or special mint collections through the company’s subsidiary, Sprott Money Collectibles. 

Even though the company is based in Toronto, Sprott Money offers coins that meet strict industry guidelines and adhere to IRS standards for IRA inclusion.

Everything Sprott Money sells meets the following standards:

• Gold: 99.9% or 99.99% fine gold
• Silver: 99.9% purity or higher
• Platinum: 99.95% purity

Sprott Money works with the Royal Canadian Mint to maintain high purity standards. It also has exclusive products minted at Asahi Mint giving investors access to unique collections.

The company stocks a variety of products on its website, but does not keep availability levels up to date.

Pricing & Fees

Sprott Money offers competitive pricing on its bullion products, with prices closely aligned to current market rates.

The company does not charge a commission, but it does charge a premium over spot prices.

Premiums are not listed online but interested investors can contact a customer service representative for real-time pricing. 

The company accepts several different payment methods including: 

• Check
• Wire transfer
• Credit Card
• Debit Card

Payments made with credit cards are subject to a refundable $50 deposit hold. Some payment methods incur additional processing fees. There is also a $35 wire transfer fee.

Orders over $500 qualify for free shipping. If your order is less than $500 it will incur a $15 flat shipping fee.

These rates are for shipments made in North America. Shipping to other destinations may incur a separate fee.

Sprott Money offers secure storage options for investors who elect to invest their precious metals in an IRA and need to keep their investments at a depository.

Storage fees are based on the total portfolio value and location:

Portfolio Value	Annual Storage Fee (CAD)
$0 to $99,999.99	0.65%
$100,000 to $499,999.99	0.55%
$500,000 to $999,999.99	0.50%
$1,000,000 to $1,999,999.99	0.45%
$2,000,000 to $4,999,999.99	0.40%
$5,000,000+	0.35%

The yearly minimum storage fee is $200. Storage withdrawal requests are subject to a $75 fee, plus any additional shipping and insurance costs.

While Sprott Money provides storage solutions it is not a custodian. If you wish to invest in a precious metals IRA you’ll need to set up an account with a custodian which will incur separate maintenance fees.

Sprott Money offers a buyback program for investors who purchase precious metals through Sprott Money.

To initiate a buyback, contact Sprott Money to lock in a buyback price. Ship your gold to Sprott Money for verification.

Once your gold is verified and approved, you can expect to receive payment within 10 business days.

For metals that aren’t in sealed condition, Sprott Money will charge a $2.50 CAD purity testing fee per item.

Security & Insurance

Sprott Money encrypts all online transactions using VeriSign SSL to ensure the safety of user data, including payment details.

The company does not offer two-factor authentication at this time.

Sprott Money follows Canada’s Privacy Act to protect investor data. The company does not sell personal information to third parties.

It only shares data when it’s required to for order processing or compliance with legal obligations.

All shipments are fully insured during transit against loss or damage and require a signature upon delivery.

Insurance is voided if you make any changes to the normal delivery process after your shipment is in transit.

The company charges additional insurance fees for all of its products:

• Gold: $15 flat rate and 0.4% of value of gold
• Silver: $30 flat rate and 0.75% of value of silver
• Platinum: $30 flat rate and insurance is covered by Sprott Money

Sprott Money offers its own storage program called Sprott Money Storage.

Depositories managed by Sprott Money are located in: 

• Toronto
• Vancouver
• Delaware
• Grand Cayman
• Singapore
• Switzerland

You can also elect to store your precious metals at a third-party depository of your choosing.

To provide additional security, Sprott Money offers segregated storage. Audits are conducted annually to ensure compliance with safety and security standards.

Customer Experience

Sprott Money offers several ways for customers to reach their support team. Phone support is available at 1(888) 861-0775 Monday through Friday, from 8 AM to 6 PM EST.

Customers can also contact support via email at [email protected] or access real-time support via the virtual chat feature on their website.

The company delivers a user-friendly experience by making it easy for investors to navigate product offerings, access market insights, and manage their accounts.

The Sprott Tracker App is available on the App Store and allows you to track movements in precious metal prices.

While customer support is generally responsive, some customers have reported shipping delays or longer-than-expected order processing times.

Reviews indicate that most issues are resolved in a reasonable amount of time. 

Sprott Money believes that education is essential for investors.

The company offers a blog with market insights, a podcast with over 500 episodes on a variety of investing topics, and a weekly newsletter with market updates.

At this time, Sprott Money does not offer a formal loyalty program.

Shipping & Delivery

Sprott Money offers shipping to customers in Canada and the United States.

Orders over $500 qualify for free shipping while orders under that are charged a flat shipping fee of $15.

After payment is processed, orders usually ship within two to 15 business days.

Sprott Money does not process shipments on Fridays. Shipping is provided by USPS, FedEx, UPS, and Canada Post.

Orders are fully insured during transit, however, once a package has been delivered, the customer becomes liable for it If delivery instructions change after a shipment is in transit, it will void the insurance coverage.

Packages are shipped discreetly to reduce the risk of theft. Sprott Money requires signature confirmation on all deliveries.

Partnerships & Affiliations

Sprott Money is part of Sprott Inc., a holding company that specializes in investing in precious metals and critical materials.

Sprott collaborates with mining companies around the world giving investors exposure to commodity price movements.

Sprott Money is also affiliated with Sprott U.S. Holdings, Inc., which includes:

• Sprott Global Resource Investments, Ltd. – A FINRA-registered broker-dealer
• Sprott Asset Management USA, Inc. – An SEC-registered investment adviser
• Resource Capital Investment Corporation – An SEC-registered investment adviser managing investment partnerships

These subsidiaries engage in securities brokerage, money management, and investment partnerships, focusing on equity and debt instruments in the natural resources sector.

Sprott Money does not publicize collaborations with other companies or endorsements.

It does not include trade associations it is a member of on its website.

Reputation & Reviews

Sprott Money doesn’t have many reviews but from the reviews it has received the feedback is positive.

The company has a 4.5-star rating from six customers on the BBB. It has a 4.1-star rating from 18 customers on Trustpilot, but no customer reviews on Google.

Repeat customers report competitive pricing and exceptional customer service. Investors appreciate Sprott Money’s educational resources helping them make informed decisions.

Some customers have had negative experiences related to complicated payment methods and shipping delays.

Sprott Money does respond to negative customer feedback but the company does not do so in a timely manner. 

Sprott Money maintains social media profiles on Facebook, Instagram, X, YouTube.

Sprott Money Alternatives

Sprott Money offers precious metals at competitive prices but it isn’t the only dealer available.

Here are some other ones to consider.

Goldco

Goldco offers a large variety of gold and precious metals to purchase. Goldco’s fees are lower than Sprott Money.

Get access to their free gold and silver kit

JM Bullion

JM Bullion offers competitive pricing and a user-friendly platform, making it ideal for investors who want to invest consistently.

APMEX

APMEX is one of the largest and most established online precious metals dealers in the industry.

Is Sprott Money a Reputable precious metals dealer?

Sprott Money has established itself as a reputable precious metals dealer through its positive customer experience and engagement on social media.

The company offers a variety of educational resources and charges competitive market rates to make investing in precious metals easy.

Sprott Money has global reach, making it an appealing option for investors around the world.

Explore Sprott Money’s offerings to see if they are the right dealer for you to partner with.

FAQs