American Bullion Review

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About American Bullion Inc.

Nevtan Akcora and Orkan Ozkan were two brokers who grew tired of watching the portfolios of their clients change and seeing how those changes impacted them.

In 2009, they decided to open American Bullion Inc. to give clients an easier way to turn paper products and other goods into precious metals.

Pricing and Fees

American Bullion Inc. gives new investors an easy way to save money. Investors who open a custodian account with the site pay no fees for the first year. They also get free storage from the Delaware Depository. An investor must sign up with American Bullion Inc. and open a new IRA.

The company also requires that they buy or transfer a minimum of $50,000 to that account within the first year. American Bullion Inc. does not list prices for individual products online. Anyone who wants to buy anything they see on the site needs to call and talk with a gold specialist.

Available Products and Services

A free investment guide is available for anyone who wants to learn more about how investing works. American Bullion Inc. has a pop-up ad that lets visitors sign up and get this guide for free. The guide is just one of the products that the site now offers.

Though some might think of gold bullion in terms of the bounties that pirates had, it now includes circulated and uncirculated gold bars as well as other pieces. American Bullion Inc. helps investors find bullion they can add to an IRA such as gold coins and bars.

Investors can also choose from a handful of uncirculated gold proofs, which are the first coins that come from the mint. These coins often come in display boxes. Other gold bullion they can choose from include:

While gold values are almost always high, platinum prices tend to fluctuate. They hit rock bottom in the 1970s and slowly rose to new highs in recent years. American Bullion Inc. offers platinum bullion for investors who want to go beyond standard gold and silver.

All of the platinum bullion sold by the company meets the standards set by the IRS for investment accounts. Investors can choose American Eagle and Canadian Maple Leaf coins as well as select platinum bars.

Silver bullion is popular because it can go into a silver IRA or a precious metals IRA that includes different materials. Peace Silver Dollar and American Coins from the US Mint are popular. Investors will also find silver bars like PAMP Suisse and Johnson Matthey bars.

The specialists working for American Bullion Inc. can help investors navigate through the world of silver products. PAMP Suisse bars come from a refinery in Switzerland. They are .999 pure silver and one of the only bars the IRS allows investors to add to an IRA account.

A range of palladium bullion is also available for investors from American Bullion Inc. The top two options include Canadian Maple Leaf coins and PAMP Suisse bars. Many sites sell the same coins, which come from the Royal Canadian Mint.

Each coin has a high percentage of palladium and has an image of a maple leaf on one side and Queen Elizabeth II on the other side. The Mint only released these coins a few times since 2005.

New Accounts

American Bullion Inc. helps investors set up new accounts and buy precious metals for existing accounts. The site offers a self-directed IRA checklist to ensure that investors complete all of the required steps.

They need to fill out an IRA application, sign a shipping and transfer agreement, and submit several other forms. The shipping agreement allows American Bullion to buy products and ship them to a depository in the client's name and with their permission.

Payment Options

While similar sites allow investors to buy gold and any other metal products they want, American Bullion buys those products on behalf of their clients. Clients get the diverse portfolios they need but do not need to put in as much work.

Many clients choose to pay via bank transfer. They complete an online form with their account details. It authorizes American Bullion to pull money from the account when the company buys anything for them. Clients can also pay with a check called a deposit coupon.

Resources

In addition to specific products, American Bullion has resources for investors of all types. They can find out more about the different types of precious metals that they can add to a retirement account and compare the types.

American Bullion offers resources on retirement accounts that compare how a gold/silver IRA differs from a traditional IRA. The site includes lots of information on how gold investing is different from other types.

Selling Gold

Though American Bullion Inc. does not buy gold from clients, it does help clients sell and transfer gold from their accounts. Clients can choose a partial liquidation in which they sell some of their holdings and keep others. With total liquidation, they sell the entire account.

They can then decide how much they want to make from the sale and contact the company. American Bullion will then work with the client's custodian to gather all of the required information and documents. Clients should get the money from the sale within a few days.

They can send the money to another account, buy other products, or take the cash.

Why Invest in Precious Metals Through American Bullion?

Gold is the oldest currency in the world and one that holds its value. American Bullion started with the idea of showing clients how they could get more for their money with gold investments.

While gold reached highs in recent years, the stock market had multiple lows that left some investors without a nest egg. There are dozens of reasons why clients should invest in both and work with American Bullion that include:

IRA Rollover

A gold IRA is different from a traditional IRA. With a traditional IRA, an individual can open a retirement account that is separate from the one offered by their employer. They can use just one or both accounts.

Any funds they add to the account earn a small amount of interest, which gives them money they can use when they retire. Those who take money out of the account before they reach retirement age face a penalty of up to 10% of the amount they withdrew. The IRS requires that they pay taxes on the total.

With a gold IRA, the individual invests in gold, silver, and other types of precious metals. The metals go to a depository that protects them until the owner decides to change their account.

They can sell some of their holdings to invest in others or add more holdings as they need. Any product that is either 99.95% palladium/platinum, 99.9% silver, or 99.95% qualifies for this type of IRA. The investor also needs to select a custodian to oversee the account.

American Bullion offers IRA rollover support for those who already have a traditional IRA but want to change it. They can transfer any assets they already own to the account and continue earning interest on them.

The IRS allows younger people to add up to $6,000 in old assets to accounts each year and increases this amount to $7,000 for older individuals. American Bullion works with STRATA/the Delaware Depository to store and hold the investments of its clients.

Free Gold Guide

While prospective clients may want to use some of the resources available from the company, they can start with the free gold guide. American Bullion asks for the client's email address, name, phone number, and why they want to invest in gold.

They receive a guide that looks at how the value of gold changed over the last few decades, the benefits of investing in gold, and how to start buying gold.

Other Guides

American Bullion offers free investment and retirement guides, too. The investment guide looks at the popular types of investing and how to start in the field. Future clients will also find links to financial institutions that can act as custodians for them and help them set up an IRA.

The retirement guides look at 401(k) and similar accounts that help workers plan for their futures. They can get help on creating their retirement goals and how to make more money before and after they retire.

Is American Bullion Inc. a Scam?

Anyone looking at whether American Bullion Inc. is a scam should consider some of the reviews found online. The Better Business Bureau gave the company a review of four after looking at all client reviews.

One former client claims that an American Bullion gold specialist convinced him that proof sets were a better investment than other types of gold and that he lost money in the long run. Other BBB reviews are more positive and talk about the knowledge and experience of the gold specialists.

American Bullion has a slightly higher rating at Trust Pilot of 4.4. More than 80% of the reviews gave the company five stars. Those reviews talked about how much help the company offered when clients set up new IRAs and the good prices they got when they sold their precious metals.

Other reviews focused on the negative experiences clients had. One claimed that he sold gold he got through American Bullion and received less than the company claimed he would receive. Other clients claimed that the specialists they talked to lied about the value of certain products.

The company and site also received positive reviews on Trust Link that include multiple five-star ratings. One client mentioned how helpful her specialist was when it came to setting up an account and deciding what to add to it. Several clients claimed that they wouldn't trust their investments with anyone but American Bullion.

Home Storage

Not everyone trusts depositories and similar institutions with their gold, which is why American Gold offers home delivery and storage. To qualify for home storage, clients must meet some IRS standards such as having an LLC and a minimum net worth as well as an insurance policy that protects their gold.

American Bullion also goes over the reasons why clients should choose the Delaware Depository and the benefits of working with a professional custodian.

Pros & Cons of American Bullion Inc.

Final Thoughts

American Bullion has well over a decade of experience helping others invest in gold. Though it doesn't have nearly as many negative reviews as similar sites do, some of its clients were not happy with their purchases and investments.

Clients who need more help picking investments and would prefer to let a custodian handle much of their investing needs would do best with American Bullion Inc.

Remember to read our list of the Best Gold Investment Companies to work with, before investing your hard-earned savings!

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