American Bullion Review
Let’s face it. Ever since the housing bubble crash in 2005 the United States and world economy has never been the same. With the financial after effects impacting cities as far and wide as Shanghai, China, it’s no wonder uncertainty has set in. Economic downturns is exactly why many smart investors have began switching their financial assets into more secure options such as gold bullion, silver and other precious metals.
We’ve decided to put together this in depth American Bullion review on the Los Angeles, California based gold investment company. We’ll be covering the products, services and more importantly what the clients have been saying about them.With so many gold companies popping up since the rise of the gold stock, it’s no wonder there’s so much talk buzz around investing in gold. The question now remains, does American Bullion inc have your best interest in mind?
Better Business Bureau
4 complaints closed with BBB in last 3 years | 4 closed in last 12 months
The Better Business Bureau holds financial institutions like American Bullion inc to a high standard. With that said, the company is accredited with BBB and as of this article holds an A+ rating. However, like most other companies there have been complaints.
Business Consumer Alliance
Total Complaints: 15
Although there were hardly any reported complaints with the Better Business Bureau, the complaints on the Business Consumer Alliance website say otherwise. The BCA (Business Consumer Alliance) is another trusted website who has the consumers best interest in mind. Most of the complaints formed around poor customer service, being over charged, and inflated being taken advantage of.
One of the complaints focused around sales issues, claiming they had been taken advantage of. Customer goes on to say that the sales representatives were dishonest regarding fee’s they would be charged and the details were continuously withheld.
After contacting American Bullion Inc to protect their retirement investment and investing over $73,000 from their existing IRA to gold coins, the consumer claims to have been given the “run around” after asking for exact details on the fee’s they would be charged. When they finally found out their investment details, they were shocked to see that their investment had dropped to roughly $48,000 – showing a loss of over $25,000 on one transaction. The client went on to say that they firmly believe they were misled, overcharged, and blatantly ripped off.
This incident is very congruent with a lot of other American Bullion complaints. From the reports we’ve found on the BCA website, we have to say that proceeding with caution would be wise when doing business with American Bullion.
After a staggering 15 complaints on BCA, to see that there are only 8 reviews and all of them positive on Trustlink is a bit odd. This should make investors pause to see such an odd congruency in terms of reviews to complaint ratio.
Like many of the standard gold IRA companies, American Bullion offers very basic investment options that you should expect at a bare minimum. You’re able to set up your account while purchasing IRS approved gold, silver, palladium and other precious metals. They also offer gold IRA rollovers to those who have an existing Investment Retirement Account (IRA).
While these seem like excellent services they’re really the bare minimum. There’s nothing that shows an above and beyond service to clients that would distinguish themselves from their competitors. And with the review to complaint ratio not adding up, you can see why a smart investor would think twice before investing with this company.
American Bullion has both praise and complaints like many other average gold investment companies. Every standard gold investment service that you would expect with any other precious metals company is something that American Bullion has to offer. However, the main issue with American Bullion is the financial losses of consumers.
It seems that they sell precious metals at an inflated price and then once the consumer receives their order, the value of the coins isn’t nearly what they paid. With a few clients losses upwards of $25,000 a piece, this would make any potential investor or retiree wary of the huge financial losses.