BullionMax Review – A Quick Overview
BullionMax is a relatively new precious metals company based in California. They entered the industry in 2020. However, the company offers very limited storage options and doesn’t offer any gold IRA services. Furthermore, the company has no partnerships with custodians.
- Decent product selection
- Transparent about their leadership
- No gold IRA services
- Limited storage options available
- No custodial partners
- Launched in 2020
What is BullionMax?
BullionMax is a relatively new precious metals dealer and retailer based in California. The company aims to offer customers wholesale prices for coins and bullion, with a focus on providing large quantities of precious metals. The company has recently expanded its product catalog to include platinum and palladium in addition to gold and silver products.
However, it seems that the company does not offer dedicated storage services or partner with third-party providers for storage. BullionMax is a direct-to-consumer precious metals retailer that offers a variety of metals, including gold, platinum, palladium, and silver, at wholesale prices. While they are not a dedicated gold IRA company, they allow investors to purchase metals directly from their website, which can then be shipped to a location of their choosing, including an IRA or retirement account custodian.
BullionMax has a comprehensive education section on its website, providing customers with a wealth of information on precious metals investments, including investment fundamentals, coin fundamentals, and information about precious metals mining and vault security.
People Behind BullionMax:
The company is transparent about its leadership and the extensive experience they bring to the table in the precious metals industry.
Regarding custodians and storage, it’s helpful to know that BullionMax does not have a preferred IRA custodian or storage provider, but they do allow customers to work with their chosen custodian for a seamless retirement investing experience. It’s also good to know that secure vault storage can be provided by third-party providers such as Brink’s, which offers fully FDIC-insured vaults for added peace of mind.
BullionMax’s management team includes:
- Bryan Greenwood, Chief Financial Officer – With over a decade of experience in precious metals retailing and six years previously serving as VP of Finance, Administration, and Risk at APMEX, Bryan Greenwood leads the BullionMax team.
- Andy Klein, Chief Marketing Officer – Andy Klein has 10 years of experience in digital marketing and communications and a decade of experience in precious metals retailing. He is responsible for BullionMax’s communication strategy.
- Steve Emmett, Chief Operating Officer – Steve Emmett brings nearly two decades of C-suite experience in operations, logistics, and product management to his role as COO at BullionMax. He ensures that all parties within the organization are working towards their necessary goals.
- Matt Bailey, Human Resources Director – Matt Bailey heads up the HR department at BullionMax after serving for four and a half years at APMEX and working in recruiting and talent management for two decades.
It’s worth noting that BullionMax is a relatively new company, founded in 2020. This can be a major issue for investors when there are plenty of brands with a lot more industry experience.
Can You Invest in BullionMax IRA?
BullionMax does not offer Gold IRA or any similar services. Their focus is on selling and buying precious metals and coins directly to customers. Therefore, if you are an IRA investor, it might be better to consider other companies that have a stronger focus on IRA investments, such Augusta Precious Metals. They have experienced staff who can guide you through the process of opening and investing in a gold IRA.
BullionMax offers a wide range of gold, platinum, palladium, and silver products, including coins and bars. They also provide free shipping on orders above $199.
Some of the most popular products offered by BullionMax include:
- American Gold Eagles
- Canadian Gold Maple Leafs
- South African Krugerrands
- American Silver Eagles
- Canadian Silver Maple Leafs
- Austrian Philharmonic silver coins
- Platinum and palladium bars
BullionMax also offers a variety of bullion products in different weights to cater to different investment needs. They regularly update their product catalog to provide customers with new options and keep up with market demand. Customers can buy products online or through phone orders, and they have the option to pick up their purchases in person or have them shipped directly to their preferred location.
BullionMax Fees and Charges:
The costs and expenses associated with purchasing or selling gold can vary significantly. They depend on many factors such as gold weight and purity, market conditions, and the dealer or broker you choose. While some dealers may charge a fixed commission, others may adjust their prices based on current gold market rates. Thus, it is critical to carefully review the dealer’s fee schedule and associated terms and conditions before making any investment decisions. To obtain optimal value for your investment, it may be beneficial to compare pricing and services across multiple dealers. This approach will assist you in guaranteeing that you receive the most competitive rates and services accessible in the market.
BullionMax claims to offer customers wholesale prices for their precious metals products. According to them, they do not charge any hidden fees or commissions on their products. The price customers pay for their purchases includes the cost of the metal, packaging, and shipping. However, customers may be subject to state sales tax depending on their location and the products they purchase.
BullionMax Reviews, Ratings, and Complaints:
- Business Consumer Alliance (BCA) Ratings: The company has a AA rating on the BCA website. There, they have 0 customer reviews.
- Better Business Bureau (BBB) Ratings: BullionMax has A Ratings on BBB. On BBB the company has 4.95 stars out of 5 stars. This business has only one complaint registered and closed in 3 years.
A customer claims to have paid for two 5 oz Silver Starter Kits from BullionMax but never received them. When the customer tried to contact the owner to rectify the issue, there was no response. The customer contacted the payment provider, who informed them that they had received a partial shipment and could not resolve the dispute without a detailed shipping invoice. The owner reportedly refused to refund the customer’s money for the items they did not receive and gave them the “run-around.” The transaction details and invoices are also provided by the customer.
- BullionMax has received 4.6 stars out of 5 stars in Trustpilot. There, they have 56 customer reviews. Most reviews are in favor of the company and its services.
- BullionMax has 4.8 stars rating out of 5 stars on the ShopperApproved website. Here the company has approx 6,510 Customer reviews.
Is BullionMax Legit?
BullionMax appears to be a legitimate precious metals dealer and retailer, with a physical office located in Torrance, California. The company has a comprehensive website that provides detailed information about its products and services, as well as an education section with valuable information for investors.
BullionMax has BBB (Better Business Bureau) accreditation of A ratings. Which indicates that it meets the organization’s standards for trust and ethical practices. Additionally, the company has received positive reviews on various platforms, including Trustpilot. There, it has a rating of 4.6 out of 5 stars based on over 400 customer reviews.
However, the company doesn’t offer any IRA services. This can be a huge problem for most investors because a precious metals IRA allows you to avail tax benefits while buying gold and silver.
Furthermore, a large section of investors are preferring gold IRAs over other investment tools.
Sadly, BullionMax doesn’t have any partnerships with a custodian so you cannot invest in a precious metals IRA with them.
Should You Invest with BullionMax?
BullionMax offers a wide selection of products at competitive wholesale prices, and its management team has a wealth of experience in the precious metals industry. They also provide educational resources to their clients, which can be valuable for new investors. However, BullionMax does not offer any gold IRA services or storage solutions, which may be a drawback for some investors. Additionally, the company is relatively new to the industry, having been founded in 2020, which could be a concern for some.
I recommend checking out my hand-picked gold IRA companies of 2023. By checking out the top service providers of the industry, you can easily understand what the industry actually has to offer.
There are a ton of companies with more experience and specialization than this one.
Have you done business with BullionMax? Let us know in the comments!