Orion Metal ExchangeReviews of orionmetalexchange.com

Let me set the record straight with my own trade data. OME says I "received the lowest purchase price in the industry." My invoices tell a different story. Here are the actual premiums I was charged above spot price at the time of each purchase: Silver Canadian Arctic Fox (July 2020): 35.35% Platinum Marlin Coin (July 2020): 45.78% Platinum Marlin Coin (July 2020): 39.07% Silver Canadian Arctic Fox (July 2020): 28.59% Platinum Marlin Coin (January 2021): 38.98% Standard industry premiums run 5–10% for silver and 5–15% for platinum. OME charged me two to five times that. So, when OME says my review claiming "34–46% premiums" is "provably false," their own invoices prove it's accurate. The actual range is 28–46%. If anything, I was being generous. Now let's talk about this "102% net profit.” OME offered me $456,066 on February 6th. What they don't mention is that the spot value of my metals was $504,002, meaning their offer was nearly $48,000 below what my coins are worth in raw metal alone. They offered me less than spot value even after they charged me excess premiums at the time of purchase. If OME were being honest, they would acknowledge that they overcharged me with weird, fractional denominational coins that they steered me into purchasing, and that they have complete control over what they charge and pay for these coins from their customers. Applying the same premiums to the spot prices on the day they sent me the offer, they would be asking me to pay $696,540.19 for the same coins that I purchased from them. If we apply a more than generous spread of even 15% to their ask price, they should be paying $592,059.16 for these coins. Every bullion dealer I’ve spoken to has stated that a typical spread is 3-7%. So, using 15% is being overly generous. With that, I even went a step further in being judicious and applied a 20% spread and requested revised pricing of $557,232. That's $101,166 more than what OME offered me. So, when they say I "demanded $101,000 more than my coins are worth," what actually happened is I asked for a fair market buy-back, and they refused. The reason OME can make 102% sound impressive is because they overcharged me on the way in. I overpaid by $40,707 compared to fair market premiums. If I had been charged normal rates, my cost basis would have been roughly $185,163 instead of $225,871, and that same buy-back would represent a 146% return. Recent market increases have done all the heavy lifting in making their offer seem reasonable, which it is not. I'm not asking OME to "manipulate market values." I'm asking them to stop manipulating me. Every number I've cited comes directly from my purchase records, the spot prices at the time of purchase, and current spot prices. Nothing in my review is "bogus," and threatening me with a lawsuit doesn't change the math and only further strengthens my case that there is clearly something wrong with my trades. I feel as though they preyed upon my ignorance, and now that I have become educated on how pricing works in the industry, they are doing everything they can to silence me. All I want is to be made somewhat whole based on the opportunity loss I incurred due to the excess premiums.

I have an overall poor impression of the company when I called them many weeks to attempt to put an end to the repeated messages they consistently left me. I chose not to do business with this company based on how they handled themselves and spoke to me over the phone. That is why I would not recommend Orion Metal Exchange. UPDATE: the company repeatedly attempts to silence my negative review on this site by claiming I am a fictitious user. *All reviewers are protected under the Consumer Review Fairness Act of 2016 (H.R. 5111) and most importantly the first amendment right to free speech.