Monex is one of the oldest, largest, and most experienced companies that focuses on gold and other precious metals investing. In business since 1967, the company has the expertise and experience, as well as the resources available to serve nearly any type of precious metals investor’s needs. For this reason, Monex has tagged itself as being “America’s trusted name in coin and bullion trading for more than 40 years.”

The company has been located in the same headquarters building for over three decades, and currently has more than 200 staff members who are available to help precious metals investors with purchases, sales, storage, and other transactions, as well as with additional education on investing in the precious metals market.

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Monex Company Facts

Business started: 01 / 01 / 1967

Business Category: Gold, Silver and Platinum Dealers

Alternate Business Names: Monex, Monex Credit Company, Monex Financial Corporation, Monex Precious Metals

Location: Newport Beach, California

Physical Address:        4910 Birch Street, Newport Beach, CA 92660

Email Contact Information: [email protected]

Telephone Contact Information: Toll-free 1-800-997-7859

Hours of Operation: 5:30 a.m. to 5:30 p.m. each trading day

History of Monex

Monex was founded by Louis Carabini in 1967. At that time, there were currently no gold dealers in the United States due to the federal law that was passed in 1933 that prohibited the ownership of gold. Initially named the Pacific Coast Gold Exchange, the company’s early days focused on the trading of pre-1965 U.S. silver coins and gold coins that were dated 1933 and prior.

Since its beginning, Monex has become a well-known entity in the purchase and sale of gold and other precious metals for investment, with transactions that total in excess of $40 billion overall.

Today, investors can purchase gold and other types of precious metals through Monex Precious Metals. Metals can be obtained for immediate personal delivery, or alternatively, the metals may be safely stored at a storage depository or an independent bank.

Investors who wish to finance their metals purchase can do so through Monex Credit Company. Loans of up to 75% of the metals’ purchase price can be obtained. The company’s exclusive precious metals financing and storage program is referred to as the Monex Atlas Account.

Monex and Monex Deposit Company

Due to its high volume of trading, Monex Deposit Company was established in 1987 for the purpose of dealing in the purchase and sale of gold, silver, platinum, and palladium bullions and coins. Monex Deposit Company is also headquartered in Newport Beach, California.

Monex Deposit Company is known for its high level of service that is provided by experienced company staff. Due in large part to the company’s lengthy experience and high level of expertise, the large majority of the company’s business comes from repeat clients, as well as from referrals.

Today, three generations of the Carabini family work in the company – including its founder Louis Carabini, Louis’ son Michael Carabini, and Michael’s daughter Christina. Due to the company’s fine business practices, the firm has numerous employees who have stayed with the company for more than a decade.

Products Offered

Monex offers a very large selection of gold and other precious metals products. These include gold, silver, platinum, and palladium in either coin or ingot form. Ingots are typically either gold or silver pure bullion that is cast in a convenient size and shape. The coins either possess a currency value or they are actually defined as ingots.

Gold Products

Monex offers gold in three primary forms – these include the 10-ounce bullion bar (at least .995 fine purity), the 32.15 troy ounce kilobar, and the exclusive Monex-certified 10-ounce gold bullion ingot. This particular piece is composed of pure .9999 fine gold bullion, and it is considered to be among the most pure gold bullion bars that is available to metals investors. The company also offers a wide selection of gold coins.

Silver Products

Silver products are offered by Monex in two different forms. These are the 1,000 ounce silver bullion bar – which is the standard industry unit, as well as the 100-ounce silver bar. The 100-ounce bar is only available for personal delivery.

Platinum Products

Monex offers 10-ounce bars that consist of pure .9995 fine platinum. These bars can be purchased for trading, for personal delivery, or to keep in storage. Each of these platinum bars has been produced by a leading metals refiner, and is hallmarked in order to certify its purity and weight.

Palladium Products

Palladium is also available for purchase through Monex. This metal can be obtained in a 10-ounce bar format that consists of pure .999 fine palladium. Each of these bars is also manufactured through some of the leading metals refiners in the world. They are hallmarked in order to ensure their purity and weight.


Monex also offers a number of gold, silver, platinum, and palladium coins to choose from. These include:

Gold Coins:

  • Gold Vienna Philharmonics – This coin is available from Monex in three different sizes. The full sized coins may be purchased in units of ten one-ounce coins, and each of the fractional coins are sold in units of 20.
  • Gold American Buffalo – The gold American Buffalo is offered by Monex in units of ten coins.
  • Gold American Eagle – Monex offers the gold American Eagle full coin in units of 10, and each of the fractional coins are sold in units of 20.
  • Gold Canadian Maple Leaf – The gold Canadian Maple Leaf coins are also offered in three different sizes. Full coins can be purchased in ten one-ounce coins, and fractional sizes can also be purchased.
  • Gold South African Krugerrand – Monex offers the gold South African Krugerrand coins in units of ten one-ounce coins.

Silver Coins:

  • Silver Vienna Philharmonics – The silver Vienna Philharmonics coins can be purchased in units of 100 one-ounce coins.
  • Silver American Eagle – Silver American Eagle coins can provide investors with an affordable way to get started with precious metals investing. These are offered by Monex in units of 100 one-ounce coins.
  • 90% Silver U.S. Coin Bag – The 90% silver U.S. Coin Bag contains either 10,000 U.S. dimes or 4,000 U.S. quarters that are dated 1964 or earlier. These bags weigh approximately 800 troy ounces and they contain approximately 715 ounces of pure silver.
  • 40% Silver U.S. Coin Bag – The 40% silver U.S. Coin Bag contains 2,000 Kennedy half-dollars that are dated between 1965 and 1970. These coin bags contain approximately 295 ounces of pure silver.
  • Silver Canadian Maple Leaf – The silver Canadian Maple Leaf coins are offered via Monex in units of 100 one-ounce coins.

Platinum Coins:

  • Platinum American Eagle – The platinum American Eagle coins are available through Monex in three different sizes and denominations. The one-ounce coins are offered in units of ten, while the fractional cons are sold in units of 20 coins.
  • Platinum Canadian Maple Leaf – Investors can purchase the palladium Canadian Maple Leaf coin in units of ten one-ounce coins.

Palladium Coins:

  • Palladium Canadian Maple Leaf – Likewise, Monex also offers the palladium Canadian Maple Leaf in units of ten one-ounce coins.

Monex Precious Metals IRA Account

Although Monex offers a wide range of gold and other products, the company does not currently provide their customers with the opportunity to open a precious metals IRA (Individuals Retirement Account) account.

Therefore, for investors who wish to take advantage of the many tax benefits that precious metals IRA investing has to offer will need to do so through another metals dealer such as Regal Assets, where account applications may be obtained directly from the company’s website.

Precious Metals Education

For investors who wish to learn more about precious metals investing, Monex provides a number of different educational tools. It does so by offering free DVDs and reports, as well as in-depth expert insights that are posted regularly on the company’s website.

In addition, visitors to the Monex website can also sign up to receive a complimentary subscription to the company’s Precious Metals Review, as well as market alerts. Information on other items of interest can also be sent to interested investors such as excerpts from media articles that feature news and opinions on the precious metals market.

Better Business Bureau Accreditation

Most reputable companies should be accredited through the Better Business Bureau (BBB). Monex has been a BBB Accredited Business since September 29, 2011. Although the company carries no letter rating, the has determined that Monex meets the BBB’s accreditation standards. These include a commitment for making a good faith effort in resolving any consumer complaints.

Companies that are BBB Accredited Businesses pay a fee for both accreditation review and monitoring. This fee also goes towards the supporting of Better Business Bureau services to the public.

How BBB Ratings are Determined

There are several factors that go into determining a company’s BBB rating. These include:

  • The business’ complaint history with the BBB (including the volume of complaints, as well as those complaints that go unanswered or unresolved)
  • Type of business
  • Time in business
  • Background information on the company in the BBB’s files
  • Failure to honor commitments to the BBB
  • Government and / or licensing actions that are known to the BBB about the company
  • Advertising issues that are known to the BBB about the company

Since March 10, 2013, there have been three complaints closed with the Better Business Bureau for Monex. Two of these complaints centered on problems with the company’s products and / or service, and the other complaint had to do with billing and collection issues. As of that time, the BBB has found no issues with advertising and / or sales, delivery of products, and guarantee / warranty issues.

It is important to note that Better Business Bureau accreditation does not mean that the company’s products and / or services have been endorsed, or even evaluated, by the BBB. It also is not indicative that the Better Business Bureau has made any type of determination as to the product quality or the competency of the company in performing its offered services.

Monex Scams & Complaints

Just as with most any business, there will be both advantages and drawbacks to customers and potential clients. Some of the complaints that Monex has received include:

“I don’t like how this company operates. I just want to buy bullion. Sometimes 1 coin. Sometimes more. This company demands you buy 10 coins per transaction. They will try to get you to store at their vault. They will try to get you to buy more on margin. Their ideal goal isn’t to serve you in getting you your bullion, they want you to paper trade…”  – Bob E., Costa Mesa, California

“This is truly one of the worst companies. They do not set correct expectations, they have a lot of misc fees that they don’t tell you about. They are also very shifty when you’re selling stuff back to them and they quote you one thing and deliver another. They make money on the bid / ask, commission, and also on shipping and ‘weight adjustments.’ I would stay away. Find a local person to deal with that you can trust and deal with them instead…”  – Michael D., San Francisco, California

Other Reviews of Monex

With so many satisfied clients over the years, Monex has also won praises from many of its customers. Throughout the past four decades, the company has accumulated numerous reviews, such as the following:

“Monex had good prices and was quick to deliver coins. They had a 2% interest on money sent to them that was not immediately used and were quick to return the money when requested. I used their services for several months with good results.”  – Norman H., Kilgore, Texas

“…[Monex Deposit Company] they have some of the best pricing available on gold coins and other in-hand precious metal vehicles. They have a 10 oz. minimum. Just like anything else, as the consumer, you need to be aware of what a good deal is or isn’t. For the investor who holds his own coins, they cannot be beat for price, and I will vouch for their ease of ordering and good shipping service.”  - Chris B., Madison, Wisconsin

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