One of the best-known companies in the precious metals industry is that of American Bullion. Pioneers in the Gold IRA, American Bullion recognized the importance of precious metals in the retirement portfolio and created a network that ensures that the process of transferring an IRA or rolling over retirement and pension funds to a self-directed gold IRA is easy and stress-free. They also want to make sure that starting a new precious metals IRA is just as easy, especially for new investors.
Selecting a company to work with for your investments is a major financial decision and one that shouldn’t be taken lightly, which is why we chose to review American Bullion. Keep reading if you are considering American Bullion for your gold investment needs.
Who is American Bullion?
Unfortunately, American Bullion is pretty vague on their website about their founders or employees. This is frustrating, especially if you want to know the names behind the business. They do a good job of breaking down their history, though, and it is a pretty interesting read if you’ve got a few minutes. I especially found it interesting that they were the first gold company to accept BitCoin in 2013 for payments!
We did find out that the founder and CEO of American Bullion is Nevtan Akcora. Once the COO of Onstar Worldwide and senior manager of several important financial institutions, Akcora has been in charge of American Bullion for 10+ years. Oh, and their official spokesperson is Rhett Jeppson, the former Principal Deputy Director of the U.S. Mint, so they do have some clout at American Bullion for sure!
What Does American Bullion Offer Investors?
One of the company’s biggest assets is its collection of numismatic and IRA-approved coins. They are a United States Mint-approved dealer as well as a member of a few key organizations which include the Professional Coin Grading Service, the American Numismatic Association, and the Industry Council for Tangible Assets.
American Bullion takes its coins seriously, offering modern gold and silver, European coins, pre-1933 coins, and rare coins such as the American Gold Eagle, American Gold Buffalo, the Canadian Gold Maple Leaf, and Proof Gold American Eagle. You will also find a variety of precious metal bars in gold, silver, platinum, and palladium. All of these items are available for purchase for both personal collections and IRA investments.
Fees and Pricing
American Bullion, like other precious metals investment companies, has fees that investors will pay depending on the account value. For accounts valued at less than $100,000, American Bullion charges a $90 fee. With other fees, such as establishment fees, investors with accounts totaling any amount will pay up to $290 a year. These fees are slightly higher than other precious metals investment companies.
Don’t let that dissuade you, though. During the first year of investing, most investors can benefit from one of American Bullion’s special deals, which includes a zero-dollar yearly price on administrative and storage expenses. No other IRA firm is offering this deal and it is a great way to entice new customers to join.
I would also like to mention that American Bullion requires a minimum investment of $50,000. This is typically higher than other firms and it means that American Bullion is looking to deal with serious investors, which may keep some newer, younger investors away.
Available Storage Options
American Bullion chooses two storage options: STRATA and Delaware Depository. You don’t have to use these two options, however, and you can store your gold at home. This is a great option for investors who don’t always trust the government, but American Bullion does take a good chunk of time to ship your gold to you and you will likely have other fees, so keep that in mind.
Are American Bullion Products Certified?
The easy answer to this question is: YES! Consumers want properly graded and certified gold products so they know that they’re getting a good value for their hard-earned dollars. Sure, grading and certifying gold and other precious metals is standard procedure, but American Bullion takes it very seriously.
The Verdict on American Bullion
You can choose any number of precious metals firms when you’re looking to invest. Some of these companies are top-notch, and some are a little less so. In the world of IRAs and precious metals, American Bullion is one of the well-known companies out there and they do provide very good service if you can meet their minimum investment requirements.
The only real negative that is seen in the independent, third-party review sites is that American Bullion takes a bit longer than other company’s when it comes to shipping. But, these negative reviews are few and far between, with the vast majority of investors rating American Bullion highly.
If you can meet the minimum $50,000 investment requirement and you’re not in need of your precious metals to be shipped expeditiously, American Bullion may just be the investment firm for you.