Gold (and other precious metals) give account holders a sense of control over the future of their finances and retirement. With its excellent historical track record, it has managed to maintain its purchasing power despite inflation in its currency. And, over time, gold keeps up with inflation, or even outperforms it.
In the financial world, all precious metals are generally considered to be intelligent investments. However, choosing the right precious metals investment company can be difficult with so many companies available today. As one of those companies, BullionMax offers a wide range of precious metals.
But is it the right company for you? To help you decide whether you should invest in precious metals with BullionMax, we’ve put together this review to provide you with more information about the company, the products they offer, and the way they treat customers. Our main goal is to provide you with accurate and reliable information when it comes to selecting a company to invest with.
What we think of Bullion Max in a few words
Company name: Bullion Max
BBB grade: A+
Summary: Our BullionMax review in short starts with the fact that the company was founded in 2020, however, the team at BullionMax has a combined total of approximately 100 years of experience in the precious metals business. They offer gold and silver coins and bars for investment. In addition, they also buy gold bullion and coins from customers who have $1k or more for sale.
BullionMax can also assist you with adding precious metals to an IRA via their trusted affiliate, Birch Gold Group. And, visiting the BullionMax Knowledge Base can provide you with a great deal of helpful information, especially if you’re new to buying gold.
Our score: 4/5
Should you work with BullionMax in 2023?
We understand how difficult it is to choose a reliable precious metals company to work with. For that reason, we created a list of gold IRA dealers that we think are best to avoid. Click on the button below to make sure BullionMax isn’t one of them and discover our top 3 recommendations for this year.
About BullionMax
BullionMax offers essentially all of the same precious metals products that precious metals companies all over the country are offering, only directly. This can mean avoiding high prices and getting to deal with people who have been in business for almost 100 years combined.
You also get to order right off their warehouse shelves and they’re unlikely to ever run out of stock because they deal in such large volume orders.
In fact, the main goal of BullionMax is to provide a buying experience that’s completely no-nonsense and precious metals at the lowest prices that you can find anywhere. And, isn’t that the way it should be?
Although BullionMax is a fairly new company, they’ve been in the precious metals industry for ten years. Additionally, their gold IRA partner has been in business for 18 years.
All BullionMax orders over $199 (USD) receive FREE SHIPPING, while orders of less than $199 (USD) only pay a nominal shipping fee of $9.95. If you’re not subject to Form 8300, BullionMax is not required to report your sales transactions to the IRS.
The BullionMax Mission
Through innovation, leadership, and world-class service, the company strives to build an organization around the customer experience. The reason for this is really quite simple. They want their clients to be confident, safe, and secure about the delivery promise that they make to them.
Through competitive pricing, easy-to-use products, and personal service, they strive to build long-term relationships with their customers. In addition, they consider precious metals to be a cornerstone of a strong investment portfolio. And, the company makes investing convenient, safe, and reliable through its inventory of Precious Metals Essentials.
So, what are Precious Metals Essentials? They represent the most widely sought-after gold bars, coins, and other precious metal products that reflect the needs of their ideal customers.
Using the industry experience of their leadership team, they have built an organization that maximizes efficiency by building supplier relationships and reducing consumer costs by passing the savings on to their customers.
How Does BullionMax Keep Prices So Low?
For starters, keeping their expenses low is their first priority. Second, they don’t like fuss, so they only offer a few dozen of the precious metals items in their warehouse because they’re “the essentials.”
Rather than making you sort through five dozen pages of search results, they want you to be able to find what you're looking for quickly. And, finally, they buy wholesale so that they can offer you everything you’re looking for at the very lowest reasonable prices possible while still keeping the doors open and lights on.
BullionMax Gold Products to Buy
Although BullionMax is actually a newer company (founded in 2020), the BullionMax team offers 100 years of experience combined. The company is also known for offering its customers low prices. And, in order to ensure they can quickly process orders, they offer a more limited selection of gold and silver items.
Here's a list of them for you to choose from. Customers can choose from a selection of bars, coins, gold bullion, and proofs offered by BullionMax. The following are some gold pieces that you can invest in:
Coins
- American Eagle Gold Coin (1 oz)
- Australian Gold Bottlenose Dolphin Coin (1/3 oz )
- Canadian Wolverine Gold Coin (¼ oz)
- Australian Striped Marlin Gold Coin (¼ oz)
- Canadian Gold Coin- Wild Horse (¼ oz)
- Canadian Coin- Twin Maple Leaf (¼ oz)
Bars
- Perth Mint Gold Bar (1 gram)
- Perth Mint Gold Bar (1 oz)
- Valcambi LBMA Approved Carded Gold Bar (10 gram)
- Gold Valcambi CombiBar (50 grams)
Selling Your Precious Metals to BullionMax
BullionMax may also be able to help you sell your precious metals if you have at least $1,000 worth to sell. And, their simple process makes it easy for you to receive payment for your precious metals quickly. You can reach out to the company by phone or email if you are interested in selling.
Upon accepting their offer, just lock in the price, and follow the instructions for shipping. Your payment will be issued once the precious metals have been verified.
What About Gold IRAs?
If you want to invest in precious metals while also saving for retirement, setting up a Precious Metals IRA is a great idea. IRA-approved coins and bars can be added to your Precious Metals IRA through BullionMax, but the company is not an IRA custodian. However, their close trusted affiliate, the Birch Gold Group, is an IRA custodian..
Founded in 2003, the Birch Gold Group has its headquarters in Burbank, CA. The company prides itself on how it helps educate its customers to assist them in effectively diversifying their savings, including within their retirement accounts.
Birch Gold Group is a leading dealer of precious metals nationwide and they help Americans to use physical gold and silver to diversify their savings. The Better Business Bureau has given them an A+/5-star rating, while the Business Consumer Alliance has given them an AAA rating, and Trustlink has given them a 5-star rating.
Although customers can buy precious metals for physical delivery from the Birch Gold Group, they can also roll over either all or just part of their eligible 401(k) or existing IRA into a Precious Metals IRA with gold from BullionMax. BullionMax does offer a large selection of precious metals that meet the IRS' requirements for holding IRAs.
Requirements
For gold to be allowed in any IRA, the IRS has some very specific rules. For starters, the fineness of all bars and coins must meet IRS standards. Basically, silver coins and bars must be at least 99.9% pure, and gold coins must be at least 99.5% pure.
There is an exception to the rule, as the American Gold Eagle can be held in your account despite being only 92% pure. And, foreign coins meeting the minimum fineness requirement can be deposited into these accounts as well.
The gold must also be held by an IRA trustee (not by the IRA holder) in a depository that's approved by the IRS, such as the Birch Gold Group. And, we found out that learning more about BullionMax's Precious Metals IRAs is as simple as just contacting the company and a team member will assist you.
About Gold IRA Rollovers
Did you know that rolling over some or all of your retirement funds into gold can protect your retirement funds from inflation? This is commonly known as a gold IRA rollover and it’s an excellent alternative to just rolling over your retirement funds.
Gold IRAs are either Roth IRAs or traditional IRAs that are held as gold bars and/or coins. And, if you prefer, platinum, palladium, and/or silver can also be added to your gold IRA.
Which Retirement Accounts Qualify For Gold IRA Rollovers?
IRAs
Both conventional and Roth IRAs plus self-directed IRAs are eligible for gold IRA rollovers.
401(k)s
A gold IRA rollover can be executed if your 401(k) is inactive, i.e. you no longer have a relationship between yourself and the company that initiated the 401(k). You may also be eligible for an “in-service” distribution if you are approaching 60 and possess a vigorous 401(k) through your employer.
403(b)s
In some cases, you could initiate a “partial gold IRA transfer” at the age of 59.5 + via a 403(b) plan. In some companies and public schools, it's often available to employees.
TSPs
Federal employees can roll their gold IRAs into TSPs upon the termination of employment.
What Are the Basic Benefits of Buying Gold?
There are several advantages to buying gold over conventional investments (such as stocks and bonds), especially for your retirement account, including the following:
- A Balanced Approach to Having a More Diversified Portfolio
- Better Financial Control Over Your Future
- A Powerful Retirement Portfolio Hedge
- Effective Insurance Against Disasters, including:
- Government debt, default, and spending,
- Inflation
- Market uncertainty and volatility
- Political instability
- Financial or Systemic collapse
Is BullionMax a Scam?
No, it’s definitely not a scam. It’s actually a fairly well-known precious metals retailer and dealer. The company’s headquarters are in Torrance, CA, and it was founded by a team of precious metals professionals. It’s considered by investors to be one of the best Bullion dealers in the industry.
They also offer great prices and excellent customer service. They have no current complaints here and some of their investors will simply state that they will continue to buy from them for as long as the US government keeps printing money.
So, based on all of our research for this review, we do not believe that BullionMax is a scam, even though they’ve only been in business for a couple of years. Neither the BBB nor the Business Consumer Alliance would have given them A-ratings if they were really a scam company.
However, it may be too early to judge the exact quality of service or products offered by the company since it has only been in business for about two years. The result may very well be high-quality products and services, but since BullionMax hasn't been in business for very long, it's a bit like being a guinea pig.
Additionally, the company doesn't have a lot of past customer reviews, which is likely also because they've only been in business for a short time. Again, it raises questions about how the company actually treats its customers. So, how is their customer service anyway?
How’s the Bullion Max Customer Support?
Bullion Max emphasizes excellent customer service as part of its overall strategy for building positive relationships with its customers. In fact, we discovered the fact that personalized service is actually one of their top priorities.
In addition, we couldn't find any complaints whatsoever regarding their customer service and the majority of their customers appear to be quite happy with it
Have There Been Any Complaints About BullionMax?
Several of the top internet review sites have been checked to help you identify any BullionMax complaints or red flags.
Before making any recommendations to our readers, we consult everybody from the Better Business Bureau to Trustpilot, TrustLink, and the Business Consumer Alliance. Those four sites have ratings for BullionMax as follows:
- Better Business Bureau: BBB Accredited Business with an A- rating;
- Business Consumer Alliance: A rating
- TrustLink: (Was not rated)
- Trustpilot: 3.7/5 (Only one review)
It’s important to point out that, while the customer reviews may appear OK at first glance, there really aren't that many. On TrustLink, there were no reviews, and on Trustpilot, there was only one. And, the BBB and Business Consumer Alliance ratings aren't even based on customer reviews.
Newer Company= Fewer Reviews
The fact that BullionMax is a fairly new company may explain the lack of reviews. Since the company was founded in 2020, they're still building its reputation. Although BullionMax may be a very good company, their short history might make it a bit risky to do business with them.
The only complaints that we’ve been able to find weren’t formal complaints but just simply mentions in two BBB reviews. One complaint was about slow shipping and one was about receiving an unwanted Trump silver patriot coin.
Perhaps the buyer wasn’t a fan of “the Donald”. or maybe just a Democrat. Both buyers still gave Bullion Max four stars while all of the other BBB reviews were five stars.
BullionMax Pros & Cons
Companies everywhere, large or small, old and established or newbies, have their own pros and cons. So, here are just a few Bullion Max pros and cons:
Pros:
- Competitive pricing.
- Customers can sell their bars and coins to BullionMax.
- Their Knowledge Base offers some useful information in case you’re new to precious metals investing.
- Free shipping
Cons:
- Only in business since 2020.
- Not many online reviews.
- Free shipping requires spending $199 or more.
- Not an actual IRA custodian company.
Our Final Verdict
Let’s conclude our BullionMax review with this final verdict. Considering the fact that BullionMax is a relatively new company, it seems to be a solid one. Nevertheless, there are numerous precious metals companies that have been in business for a longer time and have a longer list of positive reviews to earn your business and trust.
The online reviews that do exist are an indication that BullionMax is doing an admirable job of fulfilling its clients' gold ownership dreams. This is a pretty ambitious goal, and all precious metals companies should strive to achieve it.
At the end of the day, we'd suggest doing a little more research to ensure choosing the right gold company for your own comfort level. However, if you want to know if we would invest our money in gold or any other precious metals with BullionMax after doing this review, here’s the answer.
Yes, we definitely would buy from them (or sell to them) based both upon the info we uncovered about them as well as the fact that we don’t feel that any company should be discriminated against for being in business for a shorter time period than others in their field.
So, all in all, our opinion is that it's a reputable company with a history of treating its customers extremely well.
Would you rather invest in silver?
>> Click here to take a look at our curated list of the most reputable silver IRA companies. <<
4/5