Hello and welcome to my ‘Is BullionMax A Scam?’ article.
These days, potential investors are looking far and wide for the best metals dealer out there. Hence, in this ‘Is BullionMax A Scam?’ article, we will be taking a look at this relatively new company.
Needless to say, research a firm beforehand is a good investment move. After all, you will be entrusting your hard-earned money to them. Additionally, we will be taking a look at their precious metals offering.
As usual, I always recommend to do your own research about a certain company that piques your interest. However, this good read is a good complement to help you understand more about BullionMax.
Without further ado, let us start this ‘Is BullionMax A Scam?’ article.
BullionMax Review Quick Summary
What is BullionMax?
BullionMax, a California-based precious metals firm, is a relatively new name in this industry. Interestingly, having only been founded in 2020, their management boasts a 100-year experience under their belt.
Moreover, they have offerings for gold, silver, and platinum, . Thus, investors in such metals will find joy purchasing them at BullionMax. Fortunately, BullionMax also offers wholesale prices to these metals.
The company takes pride in a ‘no nonsense buying experience’. Furthermore, they believe that their pricing is fair, competitive, and customer-friendly. What’s more, you can save if you opt to buy in bulk.
Now, is BullionMax the best company for you? Are there any reports or claims of scams and rip-offs from this firm? Take a look at the succeeding sections.
Products and Services
To start, let me emphasize that BullionMax is a bullion dealer. Putting it simply, they are only focused on selling precious metals. Consequently, they have no IRA-related services as of this writing.
Commendably, they have upped their precious metals inventory, rivaling some of the industry’s big names. Also, their coins and bullions are IRA-eligible. In other words, they can be used as assets for a self-directed IRA.
Among these, commemorative and rare collectible coins are also present. Now, this certainly gives a ton of green flags since it has a lot to offer to you. But, how about the pricing of these items?
Although, as mentioned already, their items are IRA-eligible. Moreover, they can ship your items either to your physical address, or to your IRA custodian. However, do remember that IRA-used assets cannot be stored at home!
Going back, these are some of the items you are going to find on their online platform.
As already mentioned, they have offerings for the common precious metals. For available bullion bars, take a look at the list below.
- Credit Suisse Gold Bars
- PAMP Suisse Fortuna Gold Bars
- Sunshine Mint Gold Bars
- RMC Gold Bars
- Valcambi Gold Bars
- Royal Canadian Mint Bars
- PAMP Suisse Fortuna Bars
- Geiger Edelmetalle Bars
- Monarch Precious Metals Bars
- SilverTowne Bars
- Sunshine Minting Bars
How Does It Work?
Usually, for each online dealer, an account creation process is done for every client. In BullionMax's case, they also follow this prerequisite. To partake in any transaction, you must first have an account.
Purchasing metals from BullionMax is relatively easy. First, you need to choose items you like to automatically put them on your shopping cart. Next, if you are a new or old customer, you will be asked of an account.
After that, you are going to pay for whatever is in your cart. Normally, for online bullion dealers, you need to pay using any cards you have. But, BullionMax also allows payments done through PayPal and other online payment system.
Free shipping orders are available for packages over $199. Truthfully, this is a good offer since it is way below the minimum requirement for other companies.
Prices and Fees
For metals, the lowest price plays at $5 while the most expensive item ranges between $18,000 to $20,000. On the other hand, an undisclosed shipping fee is present.
Regardless, the prices are competitive and fair, in my honest opinion. Now, what about selling to them? Well, BullionMax requires a minimum item value of $1,000.
First, they will require you to contact them. One can do so by emailing them or calling (800) 729-3202. Next, they will examine your items and quote a price. Lastly, you will receive payment through wire transfer or e-payment, whichever is your preference.
Honestly, buyback programs are a good thing for a company to practice. Needless to say, you can choose to conduct business with other firms that offer a more competitive way of pricing.
For instance, Augusta Precious Metals, the top precious metals company in the industry, is willing to help!
Customer Ratings and Reviews
- Better Business Bureau - A- rating, accredited since April 2021
- Business Consumer Alliance - AA rating
- Shopper Approved - 4.7 out of 5 based on 2,737 reviews
As you can see, the ratings and reviews that BullionMax received are commendable and worthy of praise.
Pros and Cons
- Free shipping for shipments over $199
- Privacy is important with them
- They can buy back the metals you purchased
- Affordable fees for your IRA account
- Commendable inventory of precious metals
- No IRA services
As a conclusion, this 'Is BullionMax A Scam?' article arrives at a resounding no as an answer. First and foremost, they are a reputable company with exciting deals and items.
Additionally, albeit being relatively new, they are already starting to make a name. With their competitive pricing and thousand of good reviews, it is not hard to imagine the good future they have.
Despite this, having IRA options would further boost the number of their business transactions. Also, they need to add more types of coins and bullions to further cement their company's name.
With that, I give BullionMax a solid 4 out 5 rating. If, after reading this good read, you want to skip to my recommended company, then worry no more. Conduct business with Augusta Precious Metals!
As usual, I am extending my gratitude to you for reading this article of mine. For any comments and suggestions, do leave them in the appropriate section below.