Gold and silver have always been attractive assets over the years, but recent economic uncertainties have brought them further into the limelight. Viewed as a safety net investment for long-term wealth protection, these products hold intrinsic value and could be an excellent addition to a person’s portfolio.
The question is, where to begin?
There are many online companies offering ways into the exciting precious metals investing business, and it can be hard figuring out which ones to trust. Reading genuine reviews is a good place to start.
In this review, we take a look at Bullion Trading LLC. We discuss the company, its services, and what may make it a good choice for you.
Before you read this review:
We feel that rocky markets are ahead and that many of you are making financial decisions aimed at keeping your hard earned savings intact.
We also know the difficulty that goes into choosing a company you can put your trust in when buying precious metals. This is why we performed years of research to help investors make an informed decision.
The below link shows our findings on the most highly trusted and recommended investment companies to make your investing choices easier.
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What Will I Learn?
- A Bit About the Company History
- Public Ratings and Opinions
- What Services and Products does Bullion Trading LLC Offer?
- How to Buy Gold and Other Products from Bullion Trading LLC
- How to Sell to Bullion Trading LLC
- Does Bullion Trading LLC Work with Precious Metals IRAs?
- Pros and Cons of Bullion Trading LLC
- Important Policies and Features
A Bit About the Company History
Founded in 2009 out of New York, NY, Bullion Trading LLC (you may see it written as BullionTrading LLC, BullionTrading or BullionTradingLLC) is a family-owed precious metals investment company specializing in buying, selling, and trading gold and silver coins, bullion, and bars.
The company is physically located just a couple of blocks from Times Square (20 West 47th Street in Midtown West, to be precise). Despite having a shorter history than some leading competitors, Bullion Trading LLC has built a solid reputation for reliability and high-quality service in the decade-and-a-half it has been in operation.
Public Ratings and Opinions
Before we dive deeper into our own review, we wanted to highlight a few important points made by others.
There are very few negative customer reviews online- or any reviews, for that matter- suggesting people are generally happy with the service. Customer care seems to be a big focus, with people regularly commenting on the flexible contact options and excellent website setup.
Something else worth noting is the A+ rating awarded to Bullion Trading LLC by the Better Business Bureau (BBB). It is the highest score a company can get, and comes from a trusted and respected source.
What Services and Products does Bullion Trading LLC Offer?
First and foremost, Bullion Trading LLC sells and buys gold and silver bullion, bars, and valuable rare coins directly to and from customers. There are also gifting opportunities and an option to buy grains, which is predominantly aimed at those in the jewellery industry.
One of the great things about the Bullion Trading LLC website is how easily you can browse all the product options. Initially, you will find a list of categories, which includes:
- Gold bars
- Silver bars
- Platinum bars
- Gold coins
- Silver coins
- Platinum coins
You can then explore each category to learn more about the inventory and specific products in stock. Some notable examples include Australian Gold Philharmonics, Canadian Maple Leaf Coins, Krugerrand Gold Coins, and a selection of gold and silver US coins.
Bars come in a range of weights (ounces, grams, kilos) and you can also buy palladium coins and bars when they are stocked. With precious metals being used in so many every day household items, there’s no question they are a great source of store value.
This list is far from exhaustive. Visiting the website is the best way to explore the full range. We recommend using the Featured Products Page to start with the most popular options, but you can also search for a specific product.
Prices vary, and there are sometimes great deals to take advantage of. Overall, Bullion Trading LLC prices its products competitively, and has an impressive range of offerings.
How to Buy Gold and Other Products from Bullion Trading LLC
Luckily for customers, the buying bit is simple- and there are a few ways to do it. If you live in NYC, you could pop into the physical store and buy your precious metals in person. Those who live across the rest of the country need to settle for a remote transaction.
You have two options: contact an agent over the phone to arrange your account setup, purchase, payment, and delivery, or do it all yourself via the website. Both methods are pretty easy to follow, so it comes down to personal preference.
Speaking with an agent is recommended for less confident or tech-savvy users who feel more comfortable having someone talk them through the process. Even if you are capable of using the site, it is perfectly normal to want a little one-on-one interaction with an expert to put your mind at ease.
Of all the precious metals sites, this is certainly one of the easiest to use- something many Bullion Trading LLC reviews agree with. No matter where you are across the country, you can place a hassle-free order and have your precious metals sent to the location of your choice.
You do need to set up an account and payment method before you can start shopping, but it doesn’t take long. Once you choose your products and place your order, you have five days to get the payment to Bullion Trading LLC. Failure to do so results in a $30 late fee.
Whether you are buying in-store, over the phone, or online, you can use the Bullion Trading LLC price lock guarantee to secure the price, even if you are delaying the payment by a few days. This is an excellent benefit, as prices can change from one day to the next.
Say the price is low on Friday, but you can’t send the money until Monday. You can place your order, lock in the price, and pay the same rate- even if it increases over the weekend. Just don’t miss the five-day deadline!
The minimum purchase amount is $1,000 on any transaction.
What Payment Methods Can You Use?
Bullion Trading LLC accepts payments via the following methods.
- Bank wire transfer
- VISA or Mastercard (credit or debit card)
- Personal check
- Cashier check
You cannot pay for your precious metals products using cash- including at the NYC location.
Using either a bank wire transfer or check earns you a four percent discount, and you can save your preferred payment method to your account if you buy online. Security is taken very seriously, with high-grade encryptions and secured socket layers on every transaction.
Cyber security is a priority at Bullion Trading LLC, and customer data is never shared with any third parties.
How to Sell to Bullion Trading LLC
It is not all about buying with this dealer- you can also sell gold and other precious metals products. The service is available 24/7 and doesn’t require and agent interaction. All you need to do (once your account is set up) is choose the ‘Sell to Us’ option and fill out the details.
The form asks you for the type of product, the quantity, and your contact details. You will have the price confirmed to you, and will then receive shipping details. USP shipping labels are provided by the company, or you can send it in a different way if you feel more comfortable.
After Bullion Trading LLC receives your product, they inspect the items before confirming the transaction. Provided everything is in order, you should receive the payment within three business days.
Please note that the minimum amount of $1,000 also applies to sales. Check your products meet this requirement before going to the effort of posting.
Unsure about doing all this by yourself? No problem, you can also arrange the transaction over the phone.
Does Bullion Trading LLC Work with Precious Metals IRAs?
Many precious metals investors are interested in gold IRA options, and often ask if this service is provided by Bullion Trading LLC. The simple answer is no, it is not.
The company does not offer gold IRA services- including custodians and storage. You can, however, purchase precious metals from the company to send to your gold IRA holdings, but it must be done via your appointed and approved custodian.
Something else to consider if buying gold coins or other products for your gold IRA is the IRS rules and regulations regarding the metals themselves. Only certain products are approved, and not all the coins and bars sold by Bullion Trading LLC qualify. Your custodian should be able to provide guidance on this matter, and you can also find a list of approved precious metals on most reputable gold IRA websites.
Pros and Cons of Bullion Trading LLC
Here is a quick summary of the pros and cons of working with Bullion Trading LLC.
- Versatile payment and buying options
- Customer service available through various channels
- Prick lock guarantee for five days
- Online educational resources
- Wide selection of products to suit various budgets
- Various helpful tools and features on the website
- Very few customer complaints online
- Minimum spend of $1,000 (over $4999.99 must be arranged via wire transfer)
- No option for gold IRA
- Customer service responses may be slow at times (no chat function for fast responses)
Important Policies and Features
Now, let’s look at the standout features and important company policies in a little more detail. Bullion Trading LLC is undoubtedly a formidable company that customers seen to enjoy working with, but it is the following details that can make or break a service for an individual.
You can cancel an order with Bullion Trading LLC, but only over the phone, and with a $35 fee. There may also be a market loss penalty applied if relevant.
It is fairly common for the representative to recommend alternative products for an exchange before confirming the cancellation, but they will do it for you as long as the product has not been shipped or the payment received.
Refunds and Returns
If you have already paid for and received your order but want to return it, you have five days from the date the product arrives to do so. You can do this by emailing the customer service department or calling an agent directly. They will send instructions on how to post and where to send it.
There are a few conditions- most notably that the products must be returned in the same packaging they were sent with, and they must not be damaged in any way. The items will be reviewed at the physical location before the refund is processed.
Refunds are issued withing a few days of the items being returned, but you should be aware of the possible deductions. All shipping and handling costs are non-refundable, and the company charges 10% of the order total as a restocking fee.
Shipping and Handling
UPS is the shipping and handling agent used by Bullion Trading LLC as default, but customers can choose to use a different company if they prefer it. All shipments are fully insured. The shipping rates are not advertised and may vary depending on your location. They are calculated and applied at checkout. You can choose expedited shipping, but it will cost more.
You can browse gifting options under the Gift Tab on the Bullion Trading LLC website. These include collectible items, religious donations, and much more.
If you want to find out a little more about the products you are buying, click on the Research Tab. We love this features, and think it scores Bullion Trading LLC a few bonus points.
It provides the history and background information for the various mints and refineries that the company works with to acquire products. You can find details of the organization, its structure, the products produced, and how they came to be what they are today.
This is not only interesting information to have- it is also valuable for investors and collectors to know these details before making any decisions.
Market Price Ticker
Right at the top of the Bullion Trading LLC website you can find a Market Price Ticker, which is a handy little tool that displays the current prices for all precious metals and paper currencies. It updates any changes in close to real time, providing an excellent source of information for investors looking for a fair price on products.
Company newsletters and marketing materials can appear as a bit of a nuisance at times, but they also bring valuable information and updates that could come in handy. We like that this is not forced on Bullion Trading LLC customers, but they can opt in if they want to.
By signing up for the newsletter (which you can do at the bottom of the website), you gain access to special deals and discounts, as well as ongoing information and insights regarding the company.
Another value-adding perk that comes with Bullion Trading LLC is the company blog. It regularly shares interesting and informative articles about precious metals and how to invest in them that can be of great benefit to those who read them.
Some posts are about the company and its services, but many more provide generally helpful information that can do people a lot of good in their precious metals investing journeys.
There are mixed reviews about the response speed from Bullion Trading LLC customer support agents, but most people seem to be in agreement that the service provided is helpful, versatile, and professional.
If you happen to live in or near New York, the best option is to visit the store and speak to someone face to face. Short of flying across the country, the next best option is over the phone. You can usually get through to someone fairly quickly during business hours.
Your other option is to send an email. This is the slowest method, but if it is not urgent, this is more than sufficient. There is an automated chatbot, but the extent of what it can help with is a little limited.
Bullion Trading LLC is also on social media, and are fairly active with their responses. Across the board, the team is attentive, informative, professional, and friendly- and the majority of customers seem happy with the service received.
Overall, Bullion Trading LLC is a great option for anyone looking to purchase precious metals online, over the phone, or in person. It is a simple and supportive enough system that you don’t need previous experience to manage, and there are plenty of ways to contact an agent if needs be.
The online reviews may be limited, but the official accreditation badge and A+ rating from the BBB speak volumes.
It is not a gold IRA company- it only offers precious metal products for purchase. If you are interested in setting up a gold IRA, it is better to look elsewhere. As far as buying or selling gold or silver coins and other precious metal items, Bullion Trading LLC is a reliable choice.
Check out the website for more information.