What is SD Bullion?
SD Bullion is an online retailer of precious metals, including gold, silver, platinum, and palladium. They offer a variety of bullion products, such as coins, bars, and rounds, from different mints and refineries. The company was founded in 2012 and is based in Michigan, USA. In addition to selling precious metals, SD Bullion also assists clients in setting up Precious Metals IRAs and provides educational resources on precious metals investing and market analysis through their blog and podcast. They are known for offering competitive prices and a user-friendly website that allows customers to browse and purchase products easily.
SD Bullion’s services also include assisting clients in setting up a Precious Metals IRA with their partnered custodian, New Direction Trust Company. They provide educational resources to help clients make informed decisions about their precious metals investments.
People Behind SD Bullion:
The founder of SD Bullion is Tyler Wall. He is the CEO and President of the company and has a background in finance and investment banking. James Anderson is the Senior Market Analyst & Content Marketing expert of this company and has experience in entrepreneurship and e-commerce. Mr. Jermiah Bonsangue is the Customer Service Manager at SD Bullion.
Wall started this firm in 2012 to provide investors with access to physical precious metals at competitive prices. The company has grown nowadays to become one of the leading online retailers of precious metals in the United States. In addition to Wall, Jermiah, and Anderson SD Bullion employs a team of professionals to manage their operations, customer service, and other aspects of the business.
SD Bullion Lawsuit: What Exactly Happened?
In March of 2021, Christian Sanchez filed a New York Federal court complaint against SD Bullion Inc. for their website’s failure to meet accessibility standards set forth by WCAG 2.0 and WCAG 2.1. Sanchez’s complaint outlines various issues, including the absence of alternative text (alt-text) on images. Alt-text is crucial for screen-reading software to describe visuals on websites for users with disabilities. Without it, users are left with incomplete or incorrect information.
Sanchez also pointed out that SD Bullion’s website had empty links without any text, which made it difficult for screen-reader users to navigate. Additionally, redundant links placed adjacent to each other and linked images without alt-text further compounded the navigation challenges.
While these may seem minor issues to some, web accessibility is a significant concern. Nearly 7.5 million Americans rely on screen readers to access the internet entirely, and the lack of basic accessibility features can be a form of discrimination. SD Bullion has been in operation since 2012, and they have had ample time to make their site accessible to everyone. However, it appears that the company’s CEO, Tyler Wall, has not prioritized making their website screen-reader friendly.
How to Invest in SD Bullion IRA?
Investing in an SD Bullion IRA is a simple process that involves the following steps:
- Open an account with New Direction Trust Company, the partnered custodian for SD Bullion IRAs. You can do this online or by mail.
- Fund your account by transferring funds from an existing IRA or by making a new contribution.
- Choose the precious metals you want to invest in from SD Bullion’s catalog. Gold, silver, platinum, palladium, and even copper are available.
- Place your order with SD Bullion and have the metals shipped directly to New Direction Trust Company for safekeeping.
- Manage your SD Bullion IRA online with New Direction Trust Company’s platform. You can view your account balance, contribute, and monitor your investments.
However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.
Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer of your state and choose accordingly.
Also, the list will help you understand what the industry’s best has to offer and what you might miss out on.
SD Bullion Products:
The company offers a wide range of bullion and accessories, including:
- Gold: American Eagles, Canadian Maples, Chinese Pandas, Mexican Libertads, and European Gold Bullion, as well as gold bars ranging from 1 gram to 1 kilogram.
- Silver: Coins, banknotes, bullets, rounds, and bars from 1 ounce to 1 kilogram.
- Platinum: Platinum Eagles, Platinum Maples, international platinum coins, and bars from 1 gram to 10 ounces.
- Copper: Rounds such as Silver Shields, Lincoln Busts, Peace Dollars, Morgan Dollars, and more.
- Palladium: Palladium Eagles, Palladium Maples, and bars from 1 gram to 1 ounce.
- Accessories: Coin magnifiers, cleaners, storage boxes, and airtight cases are available.
SD Bullion fees and charges:
SD Bullion charges fees for some of its services, including the following:
- Credit Card and PayPal Fees: Customers using a credit card or PayPal to make a purchase will be charged a processing fee of 3.5% of the order total.
- Bank Wire Fees: If you choose to pay for an order via bank wire, your bank may charge a fee for the transfer.
- International Shipping Fees: For international orders, shipping fees vary based on the destination country, the weight of the package, and the shipping method selected.
- Returns and Cancellations: If you cancel an order before it ships or return a product for a refund, you may be charged a restocking fee of up to 5% of the order total.
It’s important to note that this company offers free shipping and insurance on all orders over $199, which can help offset some of the fees. Additionally, SD Bullion prices its products competitively and often offers discounts for paying via bank wire or eCheck, which can help save on fees associated with credit card and PayPal payments.
SD Bullion Reviews and Complaints:
Business Consumer Alliance (BCA):
On BCA, SD Bullion has 5 stars out of 5-star ratings based on only 1 customer review. The review is positive. The customer praised the services of the company. There they have a CC company rating on the BCA website.
On the BCA (Business Consumer Alliance) website, the CC rating stands for “Concern – Conditionally Satisfactory.” This rating indicates that BCA has concerns about the company’s practices or services but acknowledges that the company has taken steps to address the issues. It is a step above the “Unsatisfactory” rating and below the “Satisfactory” rating. The CC rating means that consumers should exercise caution when dealing with the company and thoroughly research it before doing business with them.
Better Business Bureau (BBB):
On the Better Business Bureau website, SD Bullion has an A+ rating and 4.77 stars out of 5-star ratings based on 818 customer reviews. There are both mixed positive and negative reviews. They are since 12 years in the industry. A total of 118 complaints have been closed in the last 3 years. This business is BBB accredited on Better Business Bureau website.
Trustpilot:
On the Trustpilot website, the business has 3.6 stars out of 5-star ratings based on customer reviews. There are 2,201 customer reviews on the website, and this company has been verified on this website. They are having both positive and negative mixed reviews. According to these such ratings they are on average state.
Sitejabber:
On Sitejabber, SD Bullion has 4.22 stars rating out of 5 stars based on 580 customer reviews and complaints. Mostly all the reviews are positive. With Customers praising the company’s customer service, expertise, and shipping.
ShopperApproved:
On ShopperApproved, the company has 4.8 stars out of 5-star ratings based on 114,131 customer ratings and reviews. The majority of the reviews are favorable, with customers commending the company’s customer service, knowledge, and prompt delivery.
Are There Any SD Bullion Complaints? Should You Be Concerned?
Yes, there have been some SD Bullion complaints. While the company has a generally positive reputation, there have been a few negative reviews and complaints from customers. These complaints include issues with order delays, shipping problems, and customer service. Some customers have also reported receiving damaged or incorrect products.
You should be extremely cautious while dealing with a company that has received plenty of complaints online.
I recommend doing business with a reputed firm. If a company repeatedly gets the same complaints, it means it disregards consumer feedback. Certainly, it isn’t a good sign for any investor.
Here are Some Complaints Against This Company:
#1. Richard G. states that he had a locked-in price, but the system froze, and he couldn’t complete the order. He had to re-enter the order, and the price increased suddenly. This seems like a deceitful tactic.
#2. According to Dave B, the shipment wait times at SD Bullion are terrible. He has been waiting for 14 days and counting. He believes that metal demand cannot be an excuse for not shipping orders promptly. Dav suggests that if this company cannot keep up with demand, it should stop selling until they are caught up. Dave B also adds that he could get quicker service if he went to a silver mine and harvested the metal himself and melted it into molds.
#3. Connor Jacob Fuller states that this company advertises that all packages are insured, but when he had a package that was either never delivered or stolen, the company refused to take any action despite sending a sworn affidavit and a police report. This experience has led him to strongly advise against using SD Bullion.
#4. After going through several reviews on TrustPilot, Turbo Jeep feels that the standard and impersonal responses from SD Bullion do not inspire confidence to make a purchase from them. Additionally, it appears that the company blames the customer for any issues. As a result, Turbo Jeep is having second thoughts about buying from SD Bullion.
#5. Kristen G. expressed frustration with the customer service of SD Bullion, stating that when trying to place a large order over the phone, they were unable to get through and waited on hold for an excessive amount of time. They believe that an online-only shopping experience does not provide adequate customer service and would prefer to speak to a specific representative named Zach when placing their orders.
Some more negative reviews:
#1. Nico experienced long waiting times of 10 days like others and found SD Bullion’s customer service rude and dismissive. Despite being a past customer, this will be their last order from the company. Nico prefers paying more to get a better experience with another dealer.
#2. Michael G. stated that SD Bullion promotes “2-day” FedEx shipping, but takes 3-4 days to process the order. He was charged immediately but received an email stating that his order would not ship until the next month, despite the item showing as “available” online. He described the experience as garbage.
#3. S.A. claims that they placed an order for gold and the price increased the next day. However, SD Bullion canceled the order and claimed that they never received the payment, despite S.A. confirming with their bank and providing all the transaction details. To add insult to injury, S.A. received a confirmation email from SD Bullion stating that the order was being processed. S.A. believes that SD Bullion is a scam and advises others to be cautious.
#4. Aaron T states that even after the money cleared and the payment was received, SD Bullion informed him that they wouldn’t ship his order until the following Tuesday or Monday. They showed no concern and when he requested a refund, they charged him a processing fee. In his opinion, this company has poor customer service and he advises potential buyers to be cautious.
#5. Philip S warns potential customers to stay away from this company he had a negative experience. He claims that after placing a large order, the company lied about ACH payment and threatened excessive penalty fees if the order was canceled.
Some Positive Customer Reviews From Various Online Business Rating Websites:
#1. Daniel states that he rarely leaves reviews, but he has been extremely pleased with this company after completing multiple transactions. Occasionally, he checks the prices of certain products on other major competitor websites, and he has found that SD Bullion consistently offers more competitive prices.
#2. Dale shares that he received outstanding service from SD Bullion. The customer service representative was patient and took the time to help him process his order.
#3. Mac shared that Levi provided him with the best customer service experience ever. Levi was compassionate, listened well, and was a genuine professional in solving his problem. He believes that SD is the best deal out there, without a doubt.
#4. Richard describes his recent transaction with SD Bullion as professional and the representative was thoughtful and thorough. He also mentioned that the collectibles were of high quality. He rates the transaction as AAA+.
#5. Will, a new silver buyer, had a smooth experience purchasing from SD Bullion. He found the website user-friendly and appreciated being kept informed with tracking information. He plans to place another order due to their good prices.
Some more positive reviews:
#1. Mike Larochelle has ordered from SD Bullion over 40 times in the past 5 years and has never encountered any issues. He believes it’s not worth trying another dealer and is satisfied with their service.
#2. Brandon Kessler highly recommends SD Bullion as they have a great selection of products and offer competitive pricing. He also mentions the excellent customer service he received.
#3. Manuel thanks SD Bullion for delivering his order of physical silver coins in a timely manner, and for providing coins sealed by the U.S. Mint. He credits Youtuber Jeremiah Babe for inspiring him to make this purchase.
#4. Kevin Russell highly recommends SD Bullion for purchasing precious metals and coins. He found the entire process to be easy, professional, and prompt, with discreet shipping.
#5. Jeffrey Edward had a great experience with SD Bullion, praising their excellent selection and customer service. He plans to make more purchases from them in the future.
#6. Mark Pesta reports that he has placed two orders with SD Bullion, and both times the product arrived quickly and in perfect condition. He also had a positive experience with their customer service, finding the staff to be very helpful and able to answer all of his questions. Overall, he thinks SD Bullion is an excellent company and thanks them for their service.
Is SD Bullion Legit? Should You Invest With Them?
No, I don’t think you should invest with them.
SD Bullion is partially a legitimate precious metals dealer that has been in business since 2012.
However, there are too many red flags in the company which you can’t ignore.
They have received numerous complaints for shipping delays and poor customer service. Furthermore, the company recently faced a lawsuit for discriminating against a customer.
While it’s true that SD Bullion is an authorized purchaser of U.S. Mint bullion coins, that doesn’t mean they are the best. It means that they have met strict requirements set by the U.S. Mint to ensure they are a legitimate and trustworthy dealer of precious metals. Also, SD Bullion has an A+ rating with the Better Business Bureau (BBB).
Pros:
- Wide product selection
- Free shipping on orders above $199
- Multiple payment options
Cons:
- Have received complaints for discriminating against people with disabilities
- Recently faced a lawsuit
- Prevent clients from cancelling orders
- Have received complaints for poor customer service
- Relatively new and inexperienced
- Shipping times are a bit slow
When choosing a precious metals dealer, you should always go with a reputed and reliable provider. To learn about the most reputed gold IRA companies, I recommend checking out my list of top gold IRA providers.
There, you can also find the best precious metals company of your state.
Have you dealt with SD Bullion? Let us know your experience in the comments!