Learn Why American Bullion Is A Leading Gold Broker – Review
As today’s economy becomes more volatile, investors are slowly dipping away from risky financial assets like stocks and currency to a more secure alternative: gold bullion. In this review, we’ll look at American Bullion, a precious metal IRA that has been in operation since 2009.
After reading this review, investors will understand the value of low-risk investments and the vast benefits of partnering with American Bullion. One of American Bullion’s highlights is that you don’t have to pay annual fees, although the minimum investment is capped at $50,000. Those with savings from other IRAs can easily switch their funds to American Bullion without a hassle. Other companies you may wish to consider are Noble Gold firm, Goldco investments, August Precious Metals company, and our Birch Gold Group review.
This review will look at American Bullion, what it offers, what we like and did not like, and if it is an investment worth your savings.
Why Invest In Gold And Silver Bullion?
Gold/silver bullion brings a perfect option when investing during political instability or uncertainty. In addition, it is one of the earliest forms of long-term investment. Here are a few reasons why investing in precious metals IRA is vital:
Gold provides a safe haven when you need to protect your investment from tough and turbulent times. The current economy is volatile and unpredictable, so you should consider investments that can withstand such times. While stocks and bonds are good options, gold bullion is an essential must-have in your investment portfolio.
Even as the economy suffers a significant blow, gold has different factors that make its rate go up or down. But, as it stands, gold and silver coins don’t get affected by inflation or reducing interest rates. As a result, they have a steady price index, and one can bank on them as a solid investment for individual retirement accounts.
Better Control Of Your Wealth
When you own gold as an investment, you have more control as you can liquidate or direct where to put your investment. However, some assets like real estate may take a while to direct, especially in tough times.
American Bullion Overview
American Bullion is a precious metal IRA headed by CEO M. Orkan Ozkan and CFO Richard Warren Jr. The company provides clients with bullion products that can be added to portfolios or kept in Precious Metals IRA. Plus, American Bullion has partnered with STRATA Trust Company to create self-directed IRAs.
The company was recently featured in American Hard Assets magazine, already making a name as a valuable leader in the precious metal industry and an expert in 401(k) rollovers and IRA. Additionally, American Bullion is a unique provider as it has its own IRA department that’s purely focused on gold IRA rollovers, ensuring smooth transactions and fast processing for clients.
Founder and Management Team of American Bullion
Nevtan Akcora, Co-founder and President of American Bullion
He has been the company’s President for more than ten years and was previously the President and COO of Onstar Worldwide. Nevtan clearly has the expertise and experience needed to run a multinational business and reach large numbers. He has also held senior executive roles for dozens of companies, including two large financial companies.
Erman Ebren, Director of Marketing, American Bullion
He’s had a tremendous experience in digital marketing and has spent more than ten years with the company in different digital marketing-related positions. Ebren started his career at Siemens as a systems engineer.
American Bullion Pros & Cons
- Lasts longer in the global market
- Company offers valuable educational resources
- Has secure storage and custody with Delaware Depository
- Offers segregated and non-segregated options
- A couple of negative reviews and complaints online
- Steeper premiums on rare coins
- No offerings in platinum or palladium
American Bullion Ratings and Complaints
American Bullion has a wide selection of ratings and complaints from trusted third-party consumer reporting agency sites. The list below shows the most recent ratings from these companies.
- Better Business Bureau (BBB) Rating: A
- BBB Complaints: 1 complaint closed in the past 3 years
- Business Consumer Alliance (BCA): AAA
- BCA Complaints: 1 complaint closed in the past 3 years
- Trustpilot: 4.4 out of 5 from 194 reviews
- TrustLink: 5 out of 5 from 57 reviews
American Bullion Storage And Custodian
American Bullion uses a secure source of storage from the Delaware Depository. The company has high levels of security with state-of-the-art security protocols and class 3 vaults.
Delaware Depository has a keen account structure, stringent controls, and an excellent insurance policy. In addition, the vault’s location is strategic and far from any major financial and political centers to reduce risk.
The American Bullion’s storage site has a $1 billion “all risk” insurance for bullions stored in its top security vaults and a $100 million in contingent vault coverage.
American Bullion has partnered with Strata Trust as the preferred custodian. Strata Trust is a leading custodian with over $2 billion in assets for hundreds of clients across the globe. With Strata as a partner, you can choose from Roth, SERP, traditional, or simple self-directed IRAs.
However, if you feel uncomfortable having your precious metals stored in another facility, you can keep your gold at home. We have observed a few complaints about the storage issue, and clients claim that the company takes a long time to deliver the precious metals to your home.
On the other hand, you need to be aware of the legal laws and insurance policies for storing IRA gold at home. Otherwise, if you don’t take these measures, you might pay thousands of dollars in penalties.
American Bullion Costs
American Bullion charges $95 in annual fees for less than $100,000. If you calculate these fees, including the registration fees, the total amount could go as much as $290 per year. That’s a little more than other precious metals IRA providers such as Advantage Gold, Regal Assets, Goldco, or Noble Gold.
But, American Bullion relieves those fees in an attractive promotion that many investors can leverage. The precious metal IRA company has reduced the annual storage costs to zero dollars for the first year, inclusive of administrative expenses. This is an excellent way for American Bullion to get customers committed to the company, at least for one year. It is an offer not yet provided by any other IRA company in the United States.
It is also worth noting that American Bullion does require you to deposit not less than $50,000 when you register. It is a bit higher than other precious metals firms, which may mean the company is in it for serious investors.
What Does American Bullion Offer To Investors?
American Bullion is popularly known for its most significant assets- numismatic and IRA-approved coins. The company is a USA-approved dealer and a member of several important organizations such as the American Numismatic Association, the Professional Coin Grading Service, and the Industry Council for Tangible Assets.
The company has a valuable and unique collection of coins from modern silver and gold, pre-1933, European, and rare gold coins like the American Gold Buffalo, The Canadian Gold Maple, the American Eagle, etc. You’ll also find plenty of precious metal bars in gold, silver, platinum, and palladium. All these items are available in American Bullion’s inventory as a personal collection or as IRA investments.
To keep up with trends in the market, American Bullion also offers a “Gold Buyer’s Guide upon” registration for free. The guide is essential for newbies, enthusiasts, and professional investors. Some of the sections covered in the book include:
- The different types of retirement accounts
- A short overview of the historical gold values and trends
- A detailed explanation of the Gold IRA rollover
- List of precious metals eligible to be stored in a gold IRA
American Bullion Sign Up Process
American Bullion has an easy registration process through its preferred partner and IRA custodian, STRATA Trust Company. Their website links STRATA’s IRA Custodial Account Application form, which you can fill. However, note that the form is about 45 pages long, so you must carefully fill in all the information needed.
Once you finish and submit the application form, the company will check and verify the details before contacting you. Once approved, you can continue making a deposit and purchasing your precious metals.
American Bullion Scholarship Program
In 2014, American Bullion decided to educate its public on precious metals through a Scholarship Program. The $1000 scholarship is awarded each year to one lucky American chosen by the American Bullion executive team. The deadline for submissions is usually October 31st, and the awards are given in the first week of December.
The company’s website states the following rules that applicants must follow:
- Applicant must be a legal citizen of the United States or hold a valid U.S. student visa.
- Applicants must be currently enrolled at an accredited college or university within the U.S.. All winners will be required to provide a transcript, student I.D., or valid proof of enrollment before receiving their awards. Graduate students or high school students are not eligible for this scholarship.
- Only one submission per person per year is allowed.
- Applicants must submit an essay with 500 words minimum and 1000 words maximum.
- Applicants that don’t meet the above requirements will not be selected.
Winners will have their essay and byline featured on the American Bullion website and social media platforms.
Frequently Asked Questions
Are American Bullion precious metals certified?
Absolutely! Investors want properly certified and graded gold products to get the best value for their money. While grading and certification are standard, American Bullion takes it a notch higher and has a zero-tolerance policy on poorly graded gold bullion.
Which retirement accounts does American Bullion convert?
American Bullion allows you to convert your existing IRA, traditional IRA, self-directed IRA, and Roth IRA to register. Though rolling over these retirement accounts is intense, American Bullion experts will help you transfer each of these into your gold IRA account.
Do I pay any taxes when I roll over my IRA?
No, the government does not tax any rollovers. Therefore, the transfer process is tax-free and complete within 60 days. However, you need to make a deposit at American Bullion within 60 days or incur other fees and taxes.
Is there a minimum I can invest with American Bullion?
To sign up with American Bullion, you need to invest at least $50,000. However, you don’t have to pay any other fees for the first year, which is a huge plus for most clients.
Where is American Bullion Located?
The main headquarters for American Bullion is Los Angeles, CA. It is no surprise they set up shop here, as most precious metal IRAs are located in this area. The American Bullion’s Los Angeles office was initially established in 2009.
Conclusion: Is American Bullion Worth It?
Winding up this American Bullion Review, the gold IRA company is keen to provide awareness on all facets of Gold IRAs with its wide section of silver, gold, palladium, and platinum investments. The company has partnered with the best data storage and custodian service to ensure clients have peace of mind. Its partnership with the world-famous Delaware Depository means the storage facilities are state-of-the-art and offer total protection.
While the company does not have an online catalog of available inventory, American Bullion could be an excellent option for future retirees investing in Gold IRA. Lastly, the customer service is quick and will respond to your queries accurately as they only hire gold IRA experts. The company has a designated IRA department to handle all rollover transactions.
See also our review of BGASC gold and silver dealer.
The owners of this website may be paid to recommend Goldco. The content on this website, including any positive reviews of Goldco and other reviews, may not be neutral or independent.