When you commit to investing in precious metals like gold and silver, having the correct information is crucial. Unfortunately, finding the right investment broker for you can be challenging when so many precious metal companies are active online. Narrow your options by reading our American Bullion review.
At Learn About Gold, we help you explore your options with in-depth buyer investigations. Our precious metals experts compare offers, fees, and more when analyzing gold brokers. Consider the following information if you need help finding a reliable gold IRA.
What Is a Gold IRA Company?
A gold or precious metals IRA is an individual retirement account that enables investors to buy and sell physical commodities, like bullion. Unlike traditional IRAs, custodial fees for these products are generally higher because of storage and upkeep demands.
By working with a custodian, you can set up a gold IRA using pre-tax money or as a Roth IRA (post-tax). Not every gold IRA sells physical products. Some companies trade stock in the future results of mining companies and mutual funds.
The IRS regulates gold investments for retirement funds and prevents you from contributing more than $6,000 if you are under 50. Still, many people choose to invest in gold IRAs because the market price of precious metals rarely plunges during economic turmoil.
Some companies require high-dollar minimum investments that could dissuade investors from committing to this type of IRA. However, the rising price of gold is worth considering. Investors see the demand for gold rise as high as 19% above the quarterly average during some years.
American Bullion Inc. | History and Background
American Bullion formally began operations in 2009. Veteran commodity investors Nevtan Akcora and Orkan Ozkan wanted to found a company in Los Angeles that would make trading precious metals fast and intuitive. They would prioritize online customer service and allow investors to add bullion coins and bars to IRAs to accomplish this goal.
In 2013, American Bullion became the first gold IRA company to accept Bitcoin transactions. This move was particularly shocking to some since Bitcoin was still an emerging currency (having just reached the price of $1 two years prior). Nevertheless, American Bullion continued to skyrocket above their competition with the most gold IRA accounts in the world.
Today, many gold investors consider American Bullion a pioneer of gold IRAs. The company uses its partnership with STRATA Trust Company to establish customer self-directed IRA accounts. Additionally, American Bullion helps customers roll over other paper funds, like 401(k)s, into gold IRAs.
The company still operates under the direction of CEO Nevtan Akcora. Before starting the company, he enjoyed the positions of COO and President of the distinguished Onstar Worldwide. Digital Marketing Manager Erman Ebren, a former systems engineer for Siemens, also helps Akcora manage a small team of employees.
American Bullion must engage with occasional negative reviews and business challenges like any business. However, at a glance, the company continues to impress investors, tax professionals, and competitors with its track record of success.
Minimum Investments With American Bullion
Like many gold IRA companies, American Bullion has a minimum investment limit. Fortunately, the fee structure is not too hard to follow.
New customers must pay a $50 set-up fee for their accounts, along with a $95 custodial account fee after their first year. Furthermore, new customers must commit at least $50,000 for their first gold IRA.
This investment is steep for some. However, the company allows new customers to transfer that initial investment from other accounts. Moreover, American Bullion offers to waive 12 months of storage fees for new customers.
These incentives draw thousands of visitors to the website every year.
Lastly, customers with accounts totaling over $100,000 should expect to pay a yearly fee of $150 in maintenance and administrative costs.
American Bullion Products
American Bullion products include physical precious metals like gold coins, proof coins, and platinum. More specifically, American Bullion carries early 20th century U.S. and European currencies. The company also sells premium bullion coins along with standard.
Their standard coins include products with high purity levels (around 99% gold). Investors can sell or liquidate these internationally recognized items anywhere. Additionally, they retain values close to the spot price of gold.
Their premium bullion coins also have a high purity level. However, investors can sell these items at a significant markup price because these semi-numismatic coins may no longer be in circulation. New investors requiring advice should ask gold IRA experts about the value of these physical commodities before committing.
Unfortunately, American Bullion’s website does not offer visitors a catalog of its products. Instead, customers must call directly to inquire about product details and pricing options.
The American Bullion Gold IRA
Customers can diversify their gold IRA account with approved precious metal products from American Bullion. The company complies with IRS standards to ensure customers get full ownership of the physical gold and other precious metals.
IRA-Approved Precious Metal Products
American Bullion buys and sells some of the highest gold purity in the world, including:
- Gold (22-karat) American Eagle Coin from the United States Mint at West Point
- American Gold (24-karat) Buffalo Coin from the United States Mint
- Gold (24-karat) Canadian Maple Leaf Coin from the Royal Canadian Mint
- .9999 Pure PAMP Bar
- Union Bank of Switzerland Gold Bar
- Credit Suisse 999.9 Fine Gold Bar
The company’s silver selection includes:
- Silver (99.9%) Austrian Philharmonic Coin from the Austrian Mint
- Silver (99.9%) Canadian Maple Leaf Coin from the Royal Canadian Mint
- Silver (99.9%) American Eagle Coin from the United States Mint
- PAMP Suisse (99.9%) Fine Silver Bar
- Johnson Matthey Silver
Storage Options for Precious Metals
American Bullion partners with STRATA and Delaware Depository to ensure that customers can access reliable product storage. Physical products delivered safely to either location sit under constant surveillance and additional security measures.
Still, some customers complain about slow gold withdrawals. It typically takes a few weeks for the Delaware Depository to deliver the gold to the storage facility. Once secure, customers must schedule a time to see their gold in person.
In some cases, customers prefer to store their investments at home. However, this method comes with many risks. Disasters and theft can lead to thousands of dollars in economic losses.
Regardless, American Bullion will help arrange shipments to your home if needed.
IRA Rollover Process
Suppose you don’t have the money to purchase precious metals outright. In that case, you can convert your traditional IRA, Roth IRA, or another existing IRA with help from American Bullion.
You must start the rollover process before letting your broker purchase precious metals for you. Like every legitimate gold company, American Bullion provides a contract that details fees, storage options, risks, and more. If this is your first time working with an IRA company, legal or tax professionals may help you understand the terms.
Additionally, you must submit personal identification to the Self-Directed IRA Services. Once you complete your due diligence, American Bullion will send you a confirmation of your gold IRA rollover.
For some, owning a self-directed IRA may offer more flexibility when managing retirement investments than traditional accounts. Essentially, a precious metals IRA company offers a broker who will buy and sell under your direction.
What Other IRA Services Does American Bullion Offer?
American Bullion continues its tradition of providing educational resources to customers through its website. This gold IRA company provides retirement savings tips, bullion review blogs, and free gold buyer guides.
However, the American Bullion Scholarship program stands out to us. In 2014, the company launched an initiative to help students learn more about precious metals and how they could enhance their individual retirement accounts. American Bullion executives has awarded $1,000 at the end of every year to students who qualify.
To apply for the scholarship, students must:
- Enroll full-time with an accredited college or university in the U.S.
- Show valid identification of residency in the United States (legal visas apply)
- Submit an essay up to 1,000 words long on a topic provided by American Bullion
- Be willing to have their name and assignment featured online through American Bullion media
Each applicant can only submit an essay once a year. Deadlines for submissions typically fall at the end of October.
Other Third-Party American Bullion Reviews
We aren’t the only company online to offer an American Bullion review. Respected organizations like the Business Consumer Alliance and the Better Business Bureau continue to accept customer ratings and comments. Here is what everyone had to say:
Business Consumer Alliance
BCA American Bullion reviews give the company five stars. Customers say their precious metals agents communicated well and, on one occasion, even helped identify misallocated funds. BCA gave an exemplary AAA rating for American Bullion’s past performance, length of service, and reliability.
Better Business Bureau
The BBB gives American Bullion an overall score of A, noting only a single customer complaint within the last three years. American Bullion acted quickly to resolve the issue and now enjoys a four-star customer rating through this platform.
Positive reviews commend the company for its helpful staff and educational resources. Customers note that American Bullion is a decent company to partner with if you have questions about IRAs or transferring accounts.
TrustLink is a platform that enables real customers to leave reviews about gold dealer companies and other establishments. Overall, American Bullion received positive reviews from active users. Many of the five-star comments praise the company’s professionalism.
Customers confirm that American Bullion helped them understand how to invest in their retirement accounts with precious metals and were responsive when they had questions.
Like TrustLink, this website allows past and present customers to submit their American Bullion reviews. The company scores an impressive four-and-a-half star rating with nearly 200 reviews.
Trustpilot users say American Bullion is an excellent place to begin investing in precious metals. Some say they felt safe completing transactions with agents and trusted their expertise.
Hundreds of customers recommend American Bullion if you want to feel safe investing in precious metals in your retirement account. Our research leads us to agree.
American Bullion excels in providing investors with the resources they need to make intelligent decisions when investing in gold and alternative assets, like silver or platinum. This Los Angeles gold dealer has over a decade of experience handling large financial transactions and customer support. Additionally, we score them high for their product variety and student scholarship opportunities.
We don’t like the high investment requirements and account fees. American Bullion is also a bit slow to make deliveries when customers need them.
Still, we believe American Bullion is worth trying. This company is legitimate, customer-focused, and great for new investors.
Find the Right Gold Bullion Dealer for You
One company may not have all the solutions you need. If you want to explore more gold IRA options, stay updated with our reviews at Learn About Gold.
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