Bullion Direct Review – BBB, BCA, Trustlink, Yelp and RipOffReport

bullion direct review

Update:  Bullion Direct is no longer in business.  This review has been left accessible to educate potential investors.  

Bullion Direct is one of many internet dealers in gold, silver, and other precious metals sold for investment, collection, and IRA purposes.  Choosing a reliable, reputable dealer is the first step in building wealth and it pays to read all the reviews possible in order to make an informed decision.

Bullion Direct–What Is It?

Bullion Direct sells all the usual precious metals such as the American Eagle, Austrian Philharmonic, Chinese Panda, Canadian Maple Leaf and other bullion coins as well as bars.  The company was created from a unique idea shared by two college friends, one who worked in the bullion and numismatic industry and the other in commodities futures.  They envisioned an electronic exchange for metals they call Nucleo that is easy and fast as well as private yet personal.  Thus, Bullion Direct opened its doors in Austin, Texas, in 1999

What we Liked About Bullion Direct

Bullion Direct has a user friendly website that also offers pertinent news stories related to and affecting the value of precious metals.  What makes it different is the activity-based Costing Methodology that determines the fee structure and service.  Clients pay for the services they use as the accumulate metals in their online accounts.  When they reach their goal they can take physical delivery of their metals, similar to a layaway plan.  There is also a forum where anything to do with precious metals is discussed, even rumors and gossip in and about the industry.

What we Didn’t Like about Bullion Directbullion direct

If you really want to do your due diligence in making sure you’re buying from a reputable dealer, you won’t find the names of the founders or higher-ups on Bullion Direct’s website.  This makes it difficult to decide whether to use this company for your wealth building strategies.

Bullion Direct Review Sites

The BBB (gave Bullion Direct an A+ rating due to only 5 complaints in the last 3 years with 2 closed in the past 12 months.  Two complaints were about delivery issues and three were lodged due to product or service dissatisfaction.) has now assigned Bullion Direct an F rating due to their filing for Chapter 11 Bankruptcy in 2015.  The company racked up 177 complaints with the BBB and failed to respond to 130 of those.  Of the 7 reviews listed only 1 was positive.

Yelp, CitySearch, Kidzu, Ripoff Report, TrustLink, BCA, and Insider Pages had no reviews to offer.

Conclusions and Recommendations

Why (4) 1 Stars – Overall, we’ll give Bullion Direct (4) 1 star because that is the lowest we can go.  (We liked the fact that there were so few complaints and all were resolved to the customers’ satisfaction.  Bullion Direct lost points for not offering names or other pertinent information on its founders and the people who run the day to day operations.)  The company started out as a promising business with good customer service skills but unfortunately ended badly and filed for bankruptcy in 2015. In September of 2015 its storage vaults were found empty, prompting the filing for protection.  Whether Bullion Direct will eventually open its doors again is doubtful.  This company is the “poster child” for why investors should always investigate thoroughly before investing.

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