In this Bullion Exchanges Review, we will go through their different products and services, to see how they stand in the competitive precious metals space. We are going to put extra focus on their gold & silver IRA services as that is something many of our readers are most interested in!
Company: Bullion Exchanges
Owner: Ben Tseytlin (co-owner/partner) and Robert Fuks (operations manager)
Years in business: Since 2012
Who is it for Precious metals investors, collectors, retirees
Overall rating: (3.5 / 5)
Recommended: Not recommended
IMPORTANT! (before we go into more details of this review)
We strongly recommend that you ALWAYS do your research before you invest with a gold dealer company. There are so many reviews online of clients being ripped off and scammed. So please investigate thoroughly and compare different alternatives before you make your decision.
One example: 99.9% got very “pushy and salesy” representatives who terrorize and stress you into a sale.
You will experience none of that with our #1 Recommended Gold & Silver (Professional) Solution
+They give you a guarantee to buy back your metals to the highest price
+ they got a couple of other “strong points” you might like.
You are an intelligent person, so am sure that you will understand very fast
what other benefits I’m talking about, once you have seen what they got to offer to you.
==> Also see: Our Top-5 List of Precious Metals IRA Companies on this page
With that being said, let´s continue with the review on Bullion Exchanges!
What is Bullion Exchanges?
Bullion Exchanges (BE) was founded back in the year o 2012, it is a precious metals retailer that offers a wide variety of products, mainly precious metals but also other collectors non-metals items. The company headquarters is located in New York´s Diamond District.
The physical address of BE is: 30 West 47th Street, Store 1, New York, NY, 10036
What products and services do they offer?
They offer a wide selection of metals in the shape of coins, bars, and other forms as well. They also have other items as well, but the main products are precious metals. The metals are:
**Rare and Collectible coins might sound like a good idea, and even if they can, it can also be a very bad idea. It is one of the most common ways to pay a huge overprice on something that the seller makes you think is worth a lot more than it is. So please, if you are not knowledgableknowledgeable in the subject I would advise you to stay away from such coins, or you might fall victim to the so-called numismatic coin scam.
A precious metals IRA is something very popular among retirees who want to invest in (mainly) gold and silver through their retirement accounts. The main reason for it is normally as a hedge against inflation and financial crisis, so it is not hard to understand why it is popular, especially in these times. There are also some other clear benefits to a gold IRA such as tax advantages as the investor can either save taxes now (with a Traditional IRA) or in the future (with a Roth IRA).
Even if Bullion Exchanges do not offer Precious Metals IRAs directly they can help you to set up a gold IRA through a custodian, they have partnered with Goldstar Trust Company and Equity Trust IRA and those are your 2 options with BE. As IRA gold is not allowed to be stored at home you have to choose safe IRA-approved storage to keep your metals. The ones you have to choose between if you open an IRA through BE are either IDS Delaware and Canada or SWP Cayman Islands.
IMPORTANT to mention here:
Before you invest in a gold IRA you should always research and compare different alternatives against each other as they can differ a lot when it comes to fees. Many investors fall for “bad players” who surprise the investor later on with so-called hidden fees for example, and the investment might end up costing a lot more than it had to, and should do.
**See and learn how you avoid Gold IRA Scams and gold scams in general (7-minute read)
Can you sell back to the company?
Even if it is not mentioned on their website if they purchase back metals they have sold to you, they proudly state that they will buy your precious metals, to fair market-driven prices.
Other than gold, silver, platinum, palladium and rhodium, they also want to buy your diamonds and scrap metal.
**Learn about a company with the “highest price buyback guarantee” on this page instead
Yes, you can get your metals delivered home when you make a direct purchase. As mentioned above it is not allowed to store your gold at home when you place gold inside an IRA.
How good is the support?
Something I like when it comes to support from a company is when they have a live-chat function on their website. I was happy to see that BE had that, however, when I tried to access the chat I got the message that the chat was not active. Guess it is only during certain business hours, and that is understandable I guess. Other than the live chat (that might work from time to time) you also got their e-mail address, physical address, and phone nr to reach out to them with your questions.
- Paypal/Credit card
- Cryptocurrencies (through Bitpay)
Is Bullion Exchanges a Scam?
So, is Bullion Exchanges a scam or a reputable and legit company? No, they are not a scam, it is a legit and reputable company, at least that is my personal opinion. I base that on their 9 (soon 10) years in business, even if that is not a long time in this business.
I still don´t think they would have survived since 2012 if they didn´t conduct legit business. They also got a real physical address and real verified owners.
However, if they are your best alternative out there for gold & silver investing is another story. That leads us to the:
Bullion Exchanges Reviews & Ratings from 3rd party
This section is a very important one to look at when you are researching a particular company, because if their ratings isn´taren´tas well looking good, then you can be pretty sure their products and services aren´t very good either. What we normally look at, is the score of the most well-known and trusted independent 3rd party consumer protection agencies. So, how do the reviews on Bullion Exchanges look, many complaints?
Rating: (4.4 / 5) (out of 990 reviews) click here for details (opens in new window)
BBB (Better Business Bureau)
Rating: (2.4 / 5) (out of 15 reviews) click here for details (opens in new window)
Rating: (3 / 5) (out of 2 reviews) click here for details (opens in new window)
BCA (Business Consumer Alliance)
Rating: (4.8 / 5) (out of 16,262 reviews) click here for details (opens in new window)
Rating: (4.1 / 5) (out of 225 reviews) click here for details (opens in new window)
Rating: (3.5 / 5) (out of 49 reviews) click here for details (opens in new window)
Even if they have an A+ rating on the BBB website it is also important to mention that they got some complaints there as well, to be exact they have 16 complaints in the last 3 years, and 9 of them in the last 12 months (as of Mars 2022). Below are some examples of the “not so good” reviews that customers of BE have left on the BBB website:
What do these reviews say?
Important to mention here is that there are of course positive reviews on the company as well, but it is my job to present the red flags for you. Almost all companies got some negative comments, especially those who have been in business for a longer time. Even Mother Theresa got haters, right?
However, when the bad reviews start to get a bit too many, you might want to look at other alternatives.
I think it is a bit weird that BE got an A+ from BBB with that many negative testimonial reviews from their clients. On the other hand, they got an insane amount of 16,000+ reviews on Sitejabber, where the majority of them were positive.
Something I can tell you right away is that there are gold companies out there that got much better reviews and ratings and that with more years in business as well.
We have reviewed over 150+ gold & silver dealers on this site and some of them only got a couple of complaints, so you might want to look at these as well, it´s never a bad idea to look over your alternatives.
PROs & CONs
It is always a good idea to look at both the positive sides as well as the negative ones to get a better overall view of a particular product or service, right? As always in our reviews we provide you with some clear ones on both sides of the spectrum:
- Wide variety of products
- Low prices
- Club reward program
- Price match guarantee *comes with requirements
- Insane amount of positive reviews on the Sitejabber website
- Many complaints
- Only 9 years in business
Do you own or represent Bullion Exchanges?
If you are a representative or associate of BE and have found something not to be correct in this review, please, feel free to tell, and I will make sure to update the info on this post. The easiest way to do it is in the comment section below, or by simply sending us an e-mail: email@example.com
Final words and verdict
Overall rating: (3.5 / 5)
Ok, I think we have overall covered this company wellty good in this review, it is a legit company for sure! However, as we have reviewed over 150+ gold bullion dealers on this site we have, with time, become pretty hard to impress. So, for now, my overall score on this particular company is nothing more than a 3,5 out of 5 stars, a pretty average score, or even slightly below average I would say. It is not the first company I would go to either buy gold & silver, nor would I turn to it for a precious metals IRA.
It is, as always, up to you to decide how and where you do business, I innerly hope that you make sure to research and compare different alternatives before you do so though.
I would say that what I like most with BE is their wide selection of metals, far from all precious metals dealers offer copper and rhodium for example, so that is a good thing. On the other hand, I am only interested in gold & silver, and NOT in collector coins. We are all different though.
I know that you are a smart person, as you have read this review and clearly understand the concept of doing your research, right? So, I am therefore sure that you will find the right company to do business with and that suits your personal needs in the best way.
Going to repeat it, please always compare different alternatives against each other! You might get surprised at how much they can differ in not only price but also quality! ALWAYS make sure that you know exactly what you will end up paying and what fees are associated with your investment, especially if you haven´t done business with the company before and you are investing larger sums of money
I hope you found this short review to be helpful and that you now have a better overall view of Bullion Exchanges and what it got to offer and what it is about. Please share your own experience dealing with this company in the comment section below as it can help others. Also, if you got any questions about this I would be more than happy to answer them below!
I wish you success!
Michael, founder of Gold Retired