Our review of American Bullion

American Bullion, Inc. states that they are one of the most trusted leaders in precious metals IRAs and the pioneers of seamless gold IRA processing, which they are able to accomplish with the help of its highly experienced staff.

In fact, they have their own trained, in-house IRA staff that specializes in retirement account rollovers to help make it easier for customers to convert their current plan into an American Bullion IRA.

Our review of American Bullion in a few words

Company name: American Bullion

BBB grade: A+

Summary: American Bullion is a real company that sells real precious metals to add to your IRA or to simply purchase and have delivered to your door. They also have their own highly experienced and dedicated IRA staff to assist you with your retirement plan rollover to their precious metals IRA for added ease and protection against taxes and penalties.

They also have hundreds of satisfied customer reviews to vouch for their quality service. However, they also have a few complaints concerning their precious metals pricing, so we recommend you proceed with caution if you choose to work with them.

Our rating: 4/5

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Clients Benefit From Various Sources of Precious Metals Information

They also state that because it is important to them that their clients make the most informed investment choices for their IRA account, their highly knowledgeable staff is also ready to explain the history of gold and how it has remained a stable asset for investment portfolios for many years.

There are also various educational resources available on their site, including articles, blogs, and investment guides on IRS-approved precious metals, retirement accounts, and more, to also help make the process of purchasing physical gold and silver for your retirement account much simpler.

American Bullion offers both a video and a paper guide for their future members

They Offer Both Historic and Modern Gold and Silver Products

The company also boasts that they offer a wide range of coins, including U.S. coins minted before 1933, as well as newly minted silver and gold bullion for their clients to choose from.

Your IRA Precious Metals are Securely Stored in the Delaware Depository

American Bullion works with the Delaware Depository to safely store your precious metals for your IRA.

The Delaware Depository is an IRS-approved storage facility that is renowned for its maximum security measures, which include high-tech systems for inventory management and reporting, a highly-trained security staff, and 24-hour video recording of all vault activity.

They also have $1 billion all-risk insurance coverage through Lloyd's of London to further protect your gold, silver, and more.

The depository's location is also far from the effects of large government and financial institutions' policies and more.

Pros about American Bullion:

You Can Choose Between Gold, Silver, Platinum, and Palladium IRAs

As an American Bullion client, not only can you choose a gold IRA for its many benefits, including it provides a good hedge against inflation and has value in and of itself, thus making it a great trading tool during economic crises, but you can also choose a silver IRA, platinum IRA, or palladium IRA, which provide many of the same benefits.

For instance, silver is increasing in demand for its industrial use, among many other uses, which makes it valuable even in bear markets.

The same is true for platinum and palladium, so many people are also opting for silver, platinum, and palladium IRAs or to simply purchase the precious metals as part of their gold IRA for the additional inflation protection they provide.

Meanwhile, all precious metals have an innate beauty that also makes them great heirlooms to be passed down through your family for ages.

The company also specializes in a wide range of precious metals for non-IRA investors to have delivered to their homes.

They Partner With Self-Directed IRA Services as Your Custodian

Self-Directed IRA Services is the preferred custodian for American Bullion.

As your custodian, the company will hold your alternative assets for your self-directed IRA and ensure their secure shipment to the depository.

Once your precious metals are at the depository, the company will also oversee your account and handle all administrative tasks associated with it to ensure it remains compliant with IRS.

They will also provide you with copies of all paperwork and, in some cases, even provide you with an online account to keep track of your assets.

The custodian will also serve as the intermediary between you and the depository when you are ready to take physical possession of your precious metals and more.

Their fees include:

  • There is a $25 fee for the precious metals IRA account setup.
  • Clients will also be charged a $160 annual account fee.
  • However, if the amount invested exceeds $100,000 or if the precious metals are stored in a segregated storage facility, then the fees may vary.
  • In the meantime, American Bullion requires a minimum investment of $10,000 for a rollover, which they state is to cover any fees incurred during the transaction.

You Can View Your IRA Investments In-Person

According to American Bullion, when you store your precious metals with Delaware Depository, you can physically visit the location and view your precious metals for your IRA in storage.

Simply let your custodian know that you would like to visit the facility, and they will have the depository contact you to set up an appointment at the Delaware Depository in Wilmington.

However, they also have a location in Boulder City, Nevada, that you can also choose.

During your visit, you will also be permitted to take pictures of your inventory as proof.

They Will Work With You to Sell Your Gold

American Bullions homepage showing about they can help their clients protect and grow their wealth with gold

Whether you have reached retirement age and are ready to take your distribution from your IRA, or you just want to make an early withdrawal from your account, American Bullion states that it will walk you through the process of selling your precious metals.

In fact, they boast that their more than 10 years of experience as a third-party precious metals dealer has more than equipped them to help their clients quickly liquidate their assets.

Their IRA specialists will also help you complete the necessary paperwork required by your custodian to complete your full or partial withdrawal from your account for a smooth process.

Just note that if you take an early withdrawal, meaning you take a disbursement or physical possession of your precious metals from your IRA before the age of 59 1/2, taxes and a 10 % early withdrawal fee will apply.

They Also Offer Customer Incentives

Clients of American Bullion also have various opportunities to help cut their IRA costs and earn free investment resources via their customer incentives.

For instance, clients can have the first year of custodian and storage fees waived when they open a new account with the company or transfer or rollover their Thrift Savings Plan (TSP), 401(k), Roth IRA, 403(b), SEP, or another retirement plan into their precious metals IRA.

This equates to a yearly savings of over $300. However, for a retirement plan rollover to qualify, it must be at least a $50,000 minimum funds transfer.

They also offer a free gold IRA guide that helps you understand the difference that owning precious metals as part of your retirement portfolio compared to stock and other risky traditional investments makes.

It also provides you with tips to help prepare you to make the best precious metals purchases for your account, as well as governmental factors that cause precious metals prices to rise and fall, and more.

You will also learn which gold, silver, etc., qualify for your IRA to help you make the most effective choices.

American Bullion is Also a U.S. State Mint Listed Dealer and Royal Canadian Mint Registered Bullion DNA Dealer

The United States Mint is where bullion coins are originally produced; however, they do not actually sell them to the public themselves. Instead, they distribute them through authorized purchasers, such as American Bullion, who buy and sell them to private investors and more.

American Bullion is also a Royal Canadian Mint Registered Bullion DNA dealer, which means they are one of few dealers that are registered to utilize the mint's anti-counterfeiting technology and more.

They are also members of the Industry Council for Tangible Assets (ITCA) and the American Numismatic Association (ANA) and authorized dealers and members of the Professional Coin Grading Service (PCGS) and the National Guaranty Corporation (NGC).

They also Provide a Precious Metals Historical Pricing Chart on Their Site

In order to know what price for silver, gold, platinum, and palladium is a good price to invest at, it helps if you can view a snapshot of their price activities throughout history.

This way, you can see their various high and low prices to determine which direction the price might go next. Knowing their high and low prices also gives you a general idea of what's a good low price to invest so that the asset has sufficient room to increase in value.

The chart also enables you to track precious metals prices all the way back to 1968 on up until between 2021 and 2022 for the best analyses possible.

The company also enables you to check the latest prices for gold and silver right on their website. There is also a live price ticker for the Dow, so you can keep track of the latest market fluctuations to also help you time your investments.

Cons:

The Company Does Not Provide a Full List of Their Fees

Though their company website provides some of their service fees here and there, it'd be nice if they had a full list of their prices to make it easier to compare different company fees for the best precious metals company for you.

Self-Directed IRA Services (SDIRA)

The jury's still out on how we feel about Self-Directed IRA Services since we have researched, what appears to be the company's page, and felt questionable about it based on its lack of professional appearance and a non-working fee schedule link.

We are also confused as to if the custodian company has since been renamed STRATA Trust Company based on further research that seems to suggest it may have. This could be a positive thing since just like Equity Trust, STRATA is a one of the most well known self-directed custodian in the country.

So when you contact the company, be sure to inquire more about Self-Directed IRA Services so that you know exactly who they are and what they offer and to get a feel for their professionalism for yourself.

Is American Bullion a Scam?

American Bullion is rated as excellent by TrustPilot

According to the BBB site, American bullion is a BBB-accredited company with an A rating; hence, chances are, it is a real company and not a scam. Learn more about gold IRA scams here.

After looking on the Consumer Affairs site, Trustlink site, and Trustpilot site, we also found no customer reviews stating American Bullion is a fake company.

We also found no complaints or lawsuits filed against the company on ftc.gov, justice.gov, and cftc.gov.

A general internet search of American Bullion also returned no search results for lawsuits filed against them with the Attorney General about it being a fraudulent company.

Hence, after consulting numerous reputable resources on the net, we think it's safe to say that American Bullion is not a scam.

How is Their Customer Support?

American Bullion states that the professionals in their Operations Department and designated IRA department pride themselves on providing excellent customer service.

They also state that each of their employees goes above and beyond to ensure their customers are completely satisfied from the beginning to the end of their transaction, whether they are setting up an IRA account or simply ordering precious metals to be delivered to their door.

The company boasts that its overall goal for doing so is to show its customers that they take dealing with each of them ethically and fairly is serious to them.

What do their clients think?

So we turned to their consumer reviews to see if their clients' testimonies actually back up what the company says.

One customer left a review on Trustpilot stating how honest and helpful the company's representative was in helping them make the most informed choices for their account, while another customer shares how they made the process of selling their precious metals easy and fast.

5-star rating on Trustlink

Since American Bullion has a 5-star rating on Trustlink, we decided to see what customers there also had to say about their experience with the company.

And what we found was many of their customers felt that their company's representatives truly provided them with an honest and fair customer experience. Various customers also shared how patient, knowledgeable, and helpful their representatives were, which also made them happy with their experience.

Just a few reviews on the BBB's website

And then, though they only have a 3.67 out of 5 stars based on 3 customer reviews on the BBB site, 2 customers there shared how honest, kind, and helpful the company's staff was throughout the account setup and buying process and with assisting them in making the best decisions.

Therefore, it's safe to say that the company really does provide superior customer support overall, and they have many satisfied customers to attest to it.

Has There Been Any Complaints About American Bullion?

The American Bullion Better Business Bureau's business profile shows that the company has one complaint filed against them in the last 3 years; however, it was not within the last 12 months.

The page also displays the complaint, which involved the representative of a customer of their service who felt the company extorted the said person by seriously inflating the price above the spot price, which resulted in the said person suffering a loss on the sale as opposed to an increase in value.

However, American Bullion has a 100% response rate on the site, so we are assuming they were responsive in resolving the issue.

3 similar complaints on Trustpilot, BBB and Yelp

We also found a customer review on Trustpilot that also complained about being overcharged on the price of their precious metals and even feeling coaxed to purchase items they did not want.

Another customer on the BBB site also shared the same complaint, as did another customer on Yelp.

However, we found no customer complaints in Trustlink, Facebook, or Consumer Affairs, as far as we can tell.

To conclude our review of American Bullion

So do we recommend American Bullion as a precious metals company you should work with?

Many Positive Customer Reviews

Let us start off by saying we love that the company has a plethora of positive customer reviews to attest to their above-average service and customer support, which shows that they really are in business to satisfy their customers.

BBB Accredited and BBB A Rating

We also like that they are accredited with the BBB and have an A rating. However, A+ is the highest rating and what so many other precious metals companies have, which sort of sets the bar as the standard rating for superior precious metals companies like Augusta.

Dedicated, Experienced IRA Team

Their leadership as one of, if not, the first companies to perfect the rollover IRA process into the smooth, simple process that it is today also left us smiling.

The company's own experienced and dedicated in-house IRA staff also helps provide you with another level of insight into your retirement plan by educating you on how to add precious metals to it while still benefiting from the traditional tax advantages available to you.

Mint Authorized Dealers and Reputable Coin Grading Service Members

And the fact they are authorized dealers for various mints, and members of many of the most esteemed coin-grading organizations, just made us want to grab our favorite beverage, cozy up in the house, and start investing.

Watch Out For Inflated Precious Metals Prices

However, we are a bit moved by the few complaints we did see on the company concerning price gauging and the rude service some customers stated they received when they inquired about it. If you advertise that you provide the best prices on precious metals, and then you don't, just be readily open to be questioned about it.

So we end by saying that, overall, American Bullion seems like a fairly decent precious metals company to work with. However, proceed with caution.

This means be sure to inquire about their fees and how they determine their prices for their precious metals and more before you invest so that you understand and can proceed with confidence.

Our rating: 4/5

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