Today’s currency and stock markets have been consistently suffering from severe instability and now became terrifying investments to most investors, which is why a number of investors now opted for more steady investments such as precious metals.
Gold Bullions have been regarded as one of the most secure investment options in the financial world. Metal assets such as gold and silver are known for their resistance against economy fluctuations and their profitability in the last years.
The American Bullion, Inc. is regarded as the trusted leader when it comes to Gold and Silver IRA rollovers. A simplistic rollover process is very helpful especially for businesses trying to provide retirement plans for employees; which is exactly what you will get with American Bullion, Inc.
Key Company Services
The American Bullion Inc. helps prospective investors set up accounts, purchase IRS gold & silver, process IRA rollovers, and a place to store your assets.
The company has extensive expertise in the area of precious metals investment for the satisfaction and convenience of purchasers. But the company does not really offer something unique from its entire competition.
The company will help in setting up your Gold IRA investments, protecting you from economic uncertainties such as inflation. For the customer’s convenience,the American Bullion, Inc. will handle all the work when it comes to rolling 401(k) plans into self-directed IRAs.
The American Bullion also pays attention to the knowledge of their investors by providing a complete “Gold Guide” from their website free of charge. There are also a variety of guides in their library of resources to help prospective customers learn about their options with the company.
Fees & Charges
However, when comes to fees structure, the company’s fees structure is not transparent. Their fees structure is not clear. It could be on a flat rate or scaled based on investment amount. Therefore, you must be very careful if you were to setup your IRA account with them; especially for large amount of investment, a big percentage will go to the fees and charges.
This is one downside that we do not recommend American Bullion.
Better Business Bureau (BBB) Accreditation
The Better Business Bureau or simply BBB helps individual entities do business with various investment companies with confidence by looking into each company from the inside-out; mostly through shared experiences from investors.
The American Bullion, Inc. has been a ‘BBB Accredited Business’ since September 19, 2002, with 4 complaints in the past 3 years.
The Better Business Bureau rated the American Bullion an A based on a number of factors including:
- The Length of time the business has been operating
- The volume of complaints filed for the business’ size
- The response to such complaints
- The resolution provided for the complaints
- The sufficient background information provided to the BBB for the business
American Bullion, Inc. has average rating from review websites such as TrustLink, Rippoff Report and Complaint Board. It does a good job in fulfilling orders; however there are couples of complaints regarding markup in gold prices sold.
The company ratings details are as follow:
- BCA Rating = A with 15 complaints in the last 3 years
- Trustlink = 4 stars based on 22 reviews
In a review in Yelp.com, the American Bullion, Inc. was rated 1 out of 5 stars. The problem emerged during a staff dispute where the complainant’s broker was terminated, creating an inconsistency with the deal.
To quote another review on pricing concern from Business Consumer Alliance. (http://www.businessconsumeralliance.org/complaints/american-bullion-inc-100101260)
“I am a 70 yr/old pastor who was led to believe I was buying gold at a fair price… I was charged $2,625.00 per ounce for proof sets of Gold Eagles. Although it was never made clear to me that I was buying proof sets, the market price for this gold was approximately $1,700.00 per ounce… I was shocked when I realized that I had invested $90,681.03 in gold and silver that was worth only $60,036.00.”
In summary, most complaints filed online are sales or advertising oriented, such as some complaints on salesperson keep calling back after being asked to be removed from the call list. On the other hand, some complaints are on pricing concerns.
American Bullion is a well-known name in the precious metals investment industry, however we do advice you to do your due-diligence by going through all the online reviews before making your decision.
It will be also informative for you to pick up the phone and call them. You can check out their fees structure, gold coins and bullion prices, also the professionalism and expertise of their specialists.
At this point of time, we do not recommend American Bullion as the fees and prices are markup and due to the growing number of complaints filed.