Wealth Podcast Post

Precious Metals Investing with Sean Reynolds

George Grombacher August 25, 2022

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Precious Metals Investing with Sean Reynolds

LifeBlood: We talked about precious metals investing, what to keep in mind when doing it for the first time, and how to get started, with Sean Reynolds, customer experience manager with Bullionmax. 

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You can learn more about Sean at BullionMax.com, Facebook, Twitter, Instagram, YouTube and LinkedIn.

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Our Guests

George Grombacher

Sean Reynolds

Episode Transcript

Come on

Unknown Speaker 0:11
Well, this is George G and the time is right welcome today’s guest strung apart for Sean Reynolds. Sean Are you ready to do this? Oh absolutely. Let’s go Let’s go Sean is the customer service manager at bullion Max their organization making buying? Physical metal easy for people. Shawn, tell us a little about your personal life some more about your work and why you do what you do? Sure. Well, I’m originally from Wisconsin, you can probably tell with my accent, I’m a scanty, I still twitching occasionally, but not always. They still say BB and softens, sorta, you know, things like that. But I’m a badger graduated in 87, communication, arts and French were my majors. And I’ve not spoken French since then. So please don’t ask. I could probably fake it make it sound like I got something going on. But I really don’t.

Unknown Speaker 1:01
But after college, I got into sales of service and have pretty much stayed in that field. Ever since then, I started selling professional audio video lighting gear. So some of my clients were Jimmy Buffett got to meet him at Summerfest years ago with row six tickets. That was fun.

Unknown Speaker 1:19
whole story, I’ll tell you some of the day about that. But then I moved into more of a service role from a sales role worked for American Girl and Mattel for almost 20 years. And that’s where I really learned my service chops and where I tuned my ear for what good service is. And I think, you know, you may agree, you may disagree, it starts and ends with the service providers ability to listen to you. Usually most dissatisfaction with service departments comes from, they’re not listening to me, they’re not listening to you when you need help. So I have taken this experience of bringing these world class teams to light. You know, fast forward to 2015, when I got a job offer to go to APMEX American precious metals exchange in Oklahoma City, they wanted me to teach their agents how to be smooth. Well, of course, if you’ve got $50,000 worth of silver in transit, but the tracking information is a little lacking, let’s say maybe we don’t know exactly where that package is, you’d better be smooth when they call. And they will call because of course they’re gonna go hey, I couldn’t help but notice, it doesn’t look like my shipment is really coming to me. So I did that in a couple of years, moved over to the sales team learned a lot about news, numismatic products, buying and selling metals, things of that nature, really kind of became disenchanted with the with the business itself, left that to start my own health insurance business, which I still have to this day. But my phone rang about a year ago. And the same guy who brought me to Oklahoma City said, Hey, we got some guys out in California who want to start a direct to consumer Boolean business.

Unknown Speaker 3:12
Can I pick your brain for a minute? And I said, Do I have to move to California? He said, No, I said, keep talking. So next thing you know, I find out a number of the guys that I worked with at APMEX and loved working with were already on board with Boeing on Macs. So what they were doing though they were a new company was bringing on a bunch of heavy hitters to build a beast. So that’s really what we’re trying to do. We went live on May 5 May 13. Last year. And we haven’t looked back since. So it’s been kind of interesting to be part of a brand new company. Obviously Mattel was well along the way before I joined them, as well as ATM access where any of the other companies I work for. But this is my first startup. And I’m really excited and meeting most of the customers because I’m the bulk of the customer service team. So when people call chances out there, they’re going to get me. So that kind of brings us to where we are now. Nice. I appreciate that’s a you know, it’s life is a funny thing growing up in Wisconsin and then speaking French and now communicating to people who maybe are buying gold, silver, precious metals for the very first time.

Unknown Speaker 4:26
And I think really that ability to listen to people and their needs really differentiates Bojan Max, from the other businesses because we are going to take the time to talk to you learn from you learn your goals, and we’re going to suggest products to you, but we’re not advisors. So, for example, if someone is looking to collect ounces, I may direct them to things that have lower premiums on them so they would be good buys for these people. But I’m not going to tell them what to buy.

Unknown Speaker 4:58
I think we feel

Unknown Speaker 5:00
The more you tell people what they ought to do, if for some reason they end up selling before, they really should, and they lose money, it’s going to be a horrible experience. And they’re going to blame it on the guy who sold them the stuff. We would much rather educate people have them make the decisions on what they buy, and feel good about it. Because it can be a real pressure cooker of a situation. When you don’t know what you’re doing. You don’t know what to buy, and you don’t feel good about what you’re doing. Okay, that’s, that’s bad upon bad. We’re going to take that service world approach that I was telling you about and apply it to precious metals, because I’m not sure it exists to that level in our industry. I know from working at APMEX, you know, kind of watch the clock, if you got time to educate this guy. Is he buying today? How much is he buying? That is so not us, you know, we’ll take the time we’ve tried to set up a website that’s easy to navigate for newbies. And even if they still aren’t sure what to do, please call us so we can help you.

Unknown Speaker 6:06
So with Billy Max, when when I buy let’s say the have great conversation, you educate me and I make the decision, I’m actually going to buy some gold coins. Do y’all then send it to me? Or do you hold on to it, and I own it, how does it work, we send it to you, we currently don’t have the ability to vote things. And that’s, that’s fine. Most of the people we talked to wanted within arm’s length anyway, you know, in the event that the sky does fall and Chicken Littles running around, they’ll be glad that they could just reach over to wherever they put it. Usually the gun safe these days, that’s the very common place to put it, put it with your weapons.

Unknown Speaker 6:48
And, and, and that, that makes them feel much better knowing that whatever they need for a financial future is right there waiting for him. So yeah, yeah, it’s, uh, strikes me that it’s a must be a pretty interesting time to both have launched this company, and then to be talking to a lot of people.

Unknown Speaker 7:10
I guess it doesn’t necessarily matter. But just out of curiosity, you have a sense of what percentage of buyers are new to precious metals investing?

Unknown Speaker 7:19
Boy, most of them are, it’s kind of amazing George state, just really, most of them say I know nothing about this helped me. And, you know, some of them may have spoken to some other places that have, you know, a minimum minimum order threshold, do you need to buy $10,000 worth of metal, for example, we don’t have such a minimum, you can purchase as much or as little as you want. But again, that’s the Do you know what spot is? Do you know what premiums are? Just finding out how much or how little they know. And again, getting them educated to the point where they can make a decision on what they should be purchasing. And then I’m more of a facilitator than a sales guy, when you get right down to it. And I love the relationships with the folks because they’re very appreciative of being educated and not being sold. And that puts me in a great position because I would much rather be the service guy than the sales guy. So you decide what you want to buy, if you want to buy I’m here to help make that happen. But I’m not gonna go okay, so you want 25 of these and you want 40 of those. Okay, great. Cash flow chart. What are we doing? But that’s not me. That’s never been me. And so it’s not going on max either. Which is refreshing. Got it. I appreciate that. How does it go? People hate to be sold, but they love to buy so.

Unknown Speaker 8:45
Absolutely. Yeah, very true. So

Unknown Speaker 8:49
having all these conversations, I imagine you’ve not that we ever figured anything out totally. But what are some of those key things that people really do need to know as they’re sitting here? Looking at what’s going on in the world and inflation and everything else? Okay, you know what, maybe now is the time that I do start looking at this, what are some of those keys? I think some of those keys are are stopping thinking about it, stopping talking with your friends about it and actually taking action. You know, as I’ve talked to so many people I congratulate him for you know, I’ll get someone who says I’ve been thinking about this for six months, and they will place their first order and it may not be more than a couple of $100 but they did something and so we kind of celebrate that moment a little bit. Skunks out of the box, they know what it feels like, it didn’t hurt you know, we’re okay. They’re they’ve yet to receive their metals. They’re gonna love the packaging. You know, I tell them have a have a sharp knife, boy, we don’t mess around our stuff is not gonna fall out of that box or bubble mailer and we use both. So what’s it what arrives is going to be exactly what we put in that envelope in the in the vault. So it’s

Unknown Speaker 10:00
For, for them all those new folks, man, it’s just, it’s great to get them off the bench. And what most of those guys are doing is they’re looking for ounces. They’re like, if, if the you know what hits the fan, okay, I don’t want collector coins, I don’t want things that cost me more. Because if I have an opportunity, as we sit here today with silver, sitting at $19, Spot Price, okay? It could double, triple, quadruple, and it’s been there before. Gold. If it doubles, we’ve never been there before in recent history. So maybe it does take Chicken Little and everything that it takes to make the Skyfall to double an investment in gold. This is not the gold isn’t still a great investment. Because it’s the granddaddy, you don’t you don’t mess with, you know, you don’t mess with the best so to speak. But if market movement and potential market movement is what you’re looking for silver looks to be an amazing investment right now.

Unknown Speaker 11:03
So what you just said makes a lot of sense to me. I don’t necessarily want to pay a premium for a collector coin. Unless In fact, I’m into collecting coins. But just so what is then what are the

Unknown Speaker 11:20
denominations of silver that that that that I can buy? I know that’s not the right term. But

Unknown Speaker 11:27
no actually ounces, you know, typically, is it something less than an ounce, it’s kind of silly, because the premiums are so ridiculous, you’d be better off if nobody made change for you. If you’re bartering in the future. I mean, that’s how high premiums are. So an ounce is about as small as you want to get. But that’s also the standard issue of a coin of a silver coin full ounce. So you may buy those in tubes of 20 or 25. They’re usually volume discounts that go with it. And what’s nice about keeping a billfold full of ones so to speak. As let’s say the market does shoot up and silver is 50 bucks an ounce, it’s 100 bucks an ounce. Okay, well, then you’ll be really glad that you’ve got singles. Here’s 50 bucks, here’s 100 bucks, 100 200 300 400. Great. Instead of okay, well, all I have is this 100 ounce bar. Okay, I’m gonna now I am gonna cash out of, you know, $10,000 Because I only need $100. That doesn’t make any, that doesn’t make any sense. So,

Unknown Speaker 12:33
but most of the people that I talk to are looking at those smaller denominations, people love the 10 ounce bar format. They like the stackability of that. It’s like about as big as a deck of cards of bar soap, something like that. If people watching, you’re not familiar with it. So yes, since they’re little rectangles, they just stack up on top of each other very nicely.

Unknown Speaker 12:59
And so I think that’s really where the term of stacking comes from. Since they’re already a little thick. It doesn’t take much for it to look like you got something going on. So that’s kind of fun, too. For sure. Yeah, I can I can certainly see that. And y’all don’t have a minimum, I can just go and buy a coin. Or if that’s what you want to do. Yes. And some people do.

Unknown Speaker 13:22
Again, always being the facilitator to recommender, I’d like to see him spend $199 with us, so they don’t have to pay shipping. So at least what they’re purchasing is all going toward getting metal in their hands, not shipping. Yeah, I imagine that. Shipping is probably one of billion Max’s biggest expenses. Oh, yeah. And we make sure as I said, we packed like Fort Knox in a box. Most of what we ship looks like a small paving stone, like a mummy wrapped around with that brown craft tape. So it’s got a it’s got a signature look to it. But it also looks like there’s nothing important here at all. Nothing to see. Don’t get excited carrier, just put it down to set it down. So

Unknown Speaker 14:11
sometimes we’re we required signatures, sometimes we don’t, for the most part, if it’s gotten cold in the box, we do want to signature and people been pretty good about pretty good about that. Otherwise, you know, sometimes it’s a UPS package that ends up being dropped off by the post office, usually under $600 worth of stuff or so. And that’s nice because those things can get delivered on weekends Saturday and Sunday. Now that Amazon is making those daily deliveries happen by nearly every carrier carrier so got it that makes a ton of sense. Well, Shawn, you’ve been very helpful but people are ready for that difference making tip. What do you have for them?

Unknown Speaker 14:52
Excuse me the difference making tip

Unknown Speaker 14:57
if you’re looking to invest, keep

Unknown Speaker 15:00
Investing, don’t let increases or decreases in the market throw you off. Look at the cost average, because we’re not going to be sitting here at $19 an ounce, nor were we sitting at $26 An ounce six weeks ago, and staying there, the market is going to move, don’t let it over, encourage you, and don’t let it discourage you. If your goal is to buy metals, make sure that you’re buying metals, because when that day comes, when we have that parabolic increase in the market, then it’s going to be too late. Because premiums will probably be as high if not higher than the market rate for the metal. And then it’s really too late. You’re going to overpay, same as back in 2011 people got burned going up and coming down on its way to 50. When when silver did that, and there’s still people upside down today. So do it. Do it now because it can’t sooner or later. It’s too late.

Unknown Speaker 16:04
Well, I think that is great stuff that definitely gets come. Shawn, thank you so much for coming on. Where can people learn more about you? How can they engage with Boolean Max? Best way to get in touch with me is is through Boolean Max. Of course you can reach us at Boolean max.com We have chat, you can reach me through chat. Also we have we have the 800 number which is you know you can grab that off the off the website. But we are willing to have conversations about virtually anything that’s related to precious metals and how to use our website and all of that stuff. We’re just here to help people become able to start getting some precious metals, stop talking about it and start doing it. I love it. If you enjoyed as much as I did, showing your appreciation and share today’s show with a friend who also appreciates good ideas go to bullion Max B u ll ionmax.com. And take action. Get get get started with the best. There you go. Absolutely.

Unknown Speaker 17:09
Thanks, Gretchen. You bet. Thank you, George. Have a great day. And until next time, keep fighting the good fight. We’re all in this together.

Transcribed by https://otter.ai

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