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Many experts agree that investing in precious metals is a smart financial move. But with so many precious metals investment companies out there, deciding who to work with can feel quite overwhelming.
BullionMax is one of the many precious metals investment companies. Are they the right company for you, though? We've put this review together to help you learn more about BullionMax, the products they offer, and how they treat their customers to help you decide whether you should work with them to invest in precious metals.
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BullionMax is a newer company. They were founded in 2020, but the team working for BullionMax has a combined total of almost 100 years of experience. The company places a strong emphasis on supporting their customers and building positive relationships. They believe in giving each customer the personal attention they deserve.
BullionMax prides itself in the low prices they are able to offer to their customers. They offer a more limited selection of gold and silver items that are more essential to limit the time it takes to decide what to invest in and to ensure they can quickly process orders.
BullionMax offers a selection of gold bullion, proofs, bars, and coins for their customers. Some of the gold pieces you can invest in include:
Silver bullion, proofs, coins, rounds, and bars are also available to investors through BullionMax. A few of these available items include:
Selling Precious Metals to BullionMax
If you have at least $1,000 in precious metals to sell, you may be able to sell them to BullionMax. They have created a simple process to help you quickly liquidate your precious metals and receive payment.
If you're interested in selling, just call or email the company, and they'll provide you with an offer. If you're ready to accept the offer, lock in the price, and follow the directions to ship your items. After they have verified the precious metals, they'll issue your payment.
BullionMax is not an IRA custodian, but they can help you purchase IRA-approved coins and bars to add to your Precious Metals IRA. Setting up a Precious Metals IRA is an excellent strategy if you're looking to save for retirement while also benefitting from investing in precious metals.
Many of the precious metals offered by BullionMax meet the IRS' criteria to be held in an IRA. Gold coins and bars must be at least 99.5% pure, and silver coins and bars must be at least 99.9% pure. If you have questions about setting up a Precious Metals IRA with BullionMax, reach out to the company and a team member will give you more information about the process.
A section of the BullionMax website is dedicated to their Knowledge Base. This is the area you can visit if you have questions about investing in precious metals, how to store and protect your coins and bars, and more. The four main sections covered in the knowledge base include: investing fundamentals, metal fundamentals, precious metals mining, and security
Are There Any Red Flags for BullionMax?
To help you identify if there are any red flags for BullionMax, we compiled reviews from some of the top internet review sites for the company. We frequently check the Better Business Bureau, Business Consumer Alliance, TrustLink, and Trustpilot before making any recommendations to our readers.
You can see the ratings we found for BullionMax through these four sites. While at first glance the reviews may look OK, it is important to point out that there simply weren't that many customer reviews to go by. The ratings from the BBB and Business Consumer Alliance aren't based on customer reviews. There were no reviews on TrustLink and only one on Trustpilot.
Part of the reason for the lack of reviews for BullionMax is likely that the company is newer. They were only founded in 2020, so they are still trying to build their reputation with customers. BullionMax may be a perfectly good company to work with, but since they have only been in business for such a short period of time, you may be taking a gamble if you decide to give them your business.
Is BullionMax a Scam?
BullionMax has only been in business for about a year, but we don't believe they are a scam company. If they truly were a scam company, they wouldn't have earned an A- rating from the BBB or an A rating from the Business Consumer Alliance.
Since the company has only been in business for about a year, that leaves too many questions about the level of service or quality of products they'll provide. It is quite possible that BullionMax will deliver high quality products and services, but given that they have only been in business for such a short time, you'd need to be willing to be a guinea pig in a sense.
The company also doesn't have a lot of reviews from past customers. This is also likely due to the fact that they haven't been in business long. But, again, it leaves more questions about how they actually treat their customers. The A- rating from the BBB and the A rating from the Business Consumer Alliance are also not the highest reviews possible from these companies. The BBB offers up to an A+ rating, and the Business Consumer Alliance offers up to an AAA rating.
BullionMax does offer free shipping, but only with orders that are over $199. This isn't awful, but many other gold investment companies offer free shipping on all orders or only require customers to spend about $100 to receive free shipping.
BullionMax is not an IRA custodian, so if you want to take advantage of the tax benefits of opening an IRA, you'll need to find a custodian company to work with first. Then, you can purchase the coins or bars from BullionMax to add to your account. When you consider that a lot of other Precious Metals investment companies offer both services, it just feels like an extra step to work with BullionMax.
Another thing we don't love about BullionMax is that their selection of coins and bars is not very extensive. They offer few options than other investment companies and don't offer any platinum or palladium pieces.
BullionMax seems to be a rather solid company, especially for a newer company.
But there are numerous other precious metals companies out there that have been in business for a long time and have the positive reviews to earn your trust and business. We'd suggest doing a little more research and choosing one of these companies instead.
Although we do think that Bullionmax is a solid company, we believe that there are better companies out there to make your investment with.
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