Money Metals CEO Stefan Gleason Discusses New Depository, Gold Loans, and the Retail Market

Introduction

In a recent Money Metals podcast episode, host Mike Maharrey sat down with Stefan Gleason, the CEO of Money Metals Exchange. 

The conversation covered a range of topics, including the opening of a new depository, the concept of gold loans, the current state of the retail precious metals market, and the ongoing efforts to promote sound money policies.

(Interview Begins Around 6:19 Mark)

Who is Stefan Gleason?

Stefan Gleason is the founder, President, and CEO of Money Metals Exchange, a national precious metals investment company and news service established in 2010 to provide a more transparent and fair way for investors to buy and sell precious metals. Under his leadership, the company has grown to serve over 500,000 customers, becoming a prominent player in the industry.

Gleason is a seasoned business leader, investor, and political strategist. He has a degree in Political Science from the University of Florida. His media presence is extensive, having appeared on various U.S. television networks such as CNN, Fox News, Fox Business, and CNBC, and his writings have been published in numerous national and local media outlets, including the Wall Street Journal, Detroit News, Washington Times, and National Review.

A strong advocate for sound money policies, Gleason played a pivotal role in launching the Sound Money Defense League, an organization dedicated to promoting the use of gold and silver as legal tender and eliminating taxes on these metals. His political and legislative efforts often focus on promoting financial privacy and freedom, addressing issues related to monetary policy, and developing investment strategies within the precious metals sector.

Under Gleason's guidance, Money Metals Exchange has not only excelled in providing customer-focused services like seamless buying and storage options and innovative offerings such as gold loans, but it has also made significant educational contributions. The company is committed to educating investors about precious metals and advocating for sound money policies, aligning with Gleason's dedication to individual liberty, limited government, and economic freedom.

Prior to founding Money Metals Exchange, Gleason spent 15 years at the National Right to Work Committee, a conservative free market group, where he honed his skills in public policy and grassroots organizing. His extensive experience and dedication to sound monetary practices have positioned him as a leading figure in the precious metals investment community.

New Depository Facility

Gleason announced the opening of a new state-of-the-art depository in Idaho, the largest precious metals depository west of New York. The facility, boasting 8,500 square feet of class three vault space, offers top-notch security and technology for storing precious metals. Gleason emphasized that this new facility is a response to the increasing demand for secure storage of precious metals. The depository allows customers to buy, store, and even sell back their metals seamlessly, enhancing convenience and security for investors.

Advantages of Third-Party Storage

Addressing concerns about third-party storage, Gleason acknowledged that many investors prefer to keep their precious metals in personal possession. However, he highlighted situations where third-party storage could be advantageous, such as for IRA accounts, large quantities of metals, or convenience in liquidation. He reassured customers of the rigorous security measures and annual audits that ensure the safety and integrity of stored metals.

Gold Loans

Gleason explained the concept of gold loans, which allow investors to borrow against their gold holdings without selling them, thus avoiding capital gains taxes. Money Metals Exchange offers loans at competitive rates, typically prime plus 2.5%, and provides a revolving line of credit. This service is particularly beneficial for real estate investors and small business owners needing liquidity while maintaining their gold holdings.

Current Retail Market Trends

The discussion shifted to the retail market for precious metals. Gleason noted a recent cooling off in retail demand in the US and Europe, despite high gold prices driven by central bank purchases and strong demand in Asia. He observed that the lower premiums currently present a cost-efficient opportunity for investors to acquire gold and silver. Gleason predicted a resurgence in retail demand as economic uncertainties and geopolitical tensions continue to drive interest in precious metals as safe-haven assets.

Sound Money Advocacy

Gleason also touched on Money Metals Exchange’s commitment to sound money policies with the Sound Money Defense League. The company actively supports initiatives to remove sales taxes on precious metals, eliminate income tax on gains from gold and silver, and encourage states to hold gold in reserve. Gleason emphasized that these efforts align with his background in public policy and the company’s mission to advocate for individual liberty and limited government.

Key Questions and Answers:

Is the new depository open yet or on the verge of opening?

Yes, the new Money Metals Depository in Idaho is fully operational. It is the largest precious metals depository west of New York, with state-of-the-art security and technology. The facility is twice the size of Fort Knox, with 8,500 square feet of class 3 vault space, offering top-notch security and storage for precious metals.

Can customers buy and store their metals at the depository without taking possession?

Yes, customers can buy and store their metals seamlessly at the depository. The integration with the dealer makes it easy for customers to buy, store, and even sell back their metals directly through the website, providing a seamless experience.

How would you address concerns from investors who prefer to have their gold in their possession?

We encourage customers to take possession of some of their precious metals. However, for larger amounts or specific situations like IRA accounts, having metals stored in a secure facility can be advantageous. The depository offers top-notch security, annual audits, and insurance, making it a reliable option for storing precious metals.

Can you explain the concept of gold loans and how they work?

Gold loans allow investors to borrow against their gold holdings without selling them, avoiding capital gains taxes. Money Metals Exchange offers loans at prime plus 2.5%, with a revolving line of credit. This service is ideal for real estate investors and small business owners needing liquidity while maintaining their gold holdings.

What are the current trends in the retail precious metals market?

The retail demand in the US and Europe has cooled off recently, despite high gold prices driven by central bank purchases and strong demand in Asia. This has resulted in lower premiums, presenting a cost-efficient opportunity for investors to acquire gold and silver. Gleason anticipates a resurgence in retail demand as economic uncertainties and geopolitical tensions continue.

What motivates Money Metals Exchange’s involvement in sound money advocacy?

My background in public policy drives our commitment to sound money advocacy. We support initiatives to remove sales taxes on precious metals, eliminate income tax on gains, and encourage states to hold gold in reserve. These efforts align with our mission to promote individual liberty and limited government and help remove barriers for our customers.

Conclusion

The interview with Stefan Gleason provided a comprehensive overview of Money Metals Exchange’s latest initiatives and insights into the precious metals market. From the state-of-the-art depository to innovative services like gold loans, Gleason highlighted how the company is adapting to meet the evolving needs of investors. 

As economic and political landscapes remain uncertain, Money Metals Exchange continues to advocate for sound money policies and provide valuable resources for those looking to safeguard their wealth with precious metals.

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