American Bullion Reviews: Pros, Cons, Is It Right For You?

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Last Updated: July 12, 2024

As you search for gold companies to buy physical precious metals from, you will come across many names. Some of the best physical precious metal companies have a high level of customer service, and others are scammers playing on investors' emotions.

American Bullion has been around since 2009. The company is one of the pioneers of gold IRA investment options, but is it the best IRA company for your needs?

Before we go any further, we want to put up a disclaimer to let our readers know how we research each company and determine our recommendations.

We fully recognize the significance of your financial decisions and the trust you place in the information we provide. To ensure you receive the most accurate and detailed insights, we've conducted extensive research on each company we review. This includes a thorough examination of their reviews, reputation, product offerings, and history, as well as a careful comparison with similar products in the market. Rest assured, our dedicated efforts are aimed at guiding you with reliable and comprehensive information, so you can make informed choices with confidence.

At Barcode of Life, we understand the importance of your financial decisions and the trust you have in our information. We conduct in-depth research on every company we review, including their reputation, product offerings, and history. Our goal is to provide you with reliable, comprehensive information so you can make confident choices.

We hold a skeptical view of banks, the monetary system, and politicians, recognizing that these entities often cater more to the wealthy than everyday investors. Therefore, we strongly advocate for individuals to have greater control over their own finances, firmly believing that they should have the power to make decisions about their money, reducing dependence on institutions and politicians.

The #1 ranked gold investment company has agreed to give our readers a FREE gold kit at no cost, until July 24, 2024. If you are even thinking about investing in gold, you need to request this kit.   
 
Check out our best gold IRA companies list for 2024.

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Key Takeaways

What Kind of Company Is American Bullion?

American Bullion is a pioneer in the precious metals IRA industry. They sell precious metals and offer gold IRA services to help their customers pursue diversification in their retirement investments.

Continuing their pioneering traditions, American Bullion became the first to accept Bitcoin in 2013. The company sells various precious metals, including gold, silver, platinum, and palladium.

This precious metals dealer will guide you in your IRA precious metal rollover and help you store precious metals. Before investing with this gold seller, we urge you to read until the end to gather all the facts and get our final verdict.

Accreditations

Before considering investing in your financial future with American Bullion, you must know about their impressive accreditations.

  1. American Numismatic Association
  2. The United States Mint
  3. Accredited with the Business Consumer Alliance
  4. Accredited with the Better Business Bureau

The above accreditations speak to the professionalism and ethics of American Bullion. These associations have stringent guidelines for accredidation and will not accept a company that does not meet or exceed them.

Who Owns and Manages American Bullion?

Nevtan Akcora and Orkan Ozkan are the founders of American Bullion. They partnered together to fill a need in the precious metals industry.

Nevtan serves as the CEO of American Bullion and was the President and COO of Onstar Worldwide before joining forces with Orkan.

Erman Ebren is the Director of Marketing for American Bullion and was a Systems Engineer at Siemens before joining American Bullion over ten years ago. The company's booming growth can be attributed to Ebren's consistent work and devotion.

What Do Customer Reviews Say About the Company?

Reading American Bullion reviews reveals a great deal about the company. We have read every customer review we can find so we can report back to you.

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Better Business Bureau

We always visit the Better Business Bureau to see about a company's rating and reputation among customers. American Bullion received BBB accreditation on 3/15/11.

The company has an A+ rating and five stars with one customer review. There has only been one complaint in the last three years.

The complaint arose from the son of an older gentleman who had invested his life savings with American Bullion coins. The gentleman has cognitive decline, and the son has power of attorney.

After a lot of going back and forth, the customer reached an agreement with American Bullion and settled the BBB complaint. The customer's initial complaint revolved around preying on senior citizens.

We cannot speak to the validity of this complaint because much of the information and proof was redacted for the public. We have not seen widespread complaints about this company preying on older adults.

Business Consumer Alliance

American Bullion currently has an AAA rating with the Business Consumer Alliance. The company also has a five-star rating based on eight customer reviews. There have been no customer complaints.

TrustLink

The company has many positive reviews on TrustLink, totaling 57 customer posts. Many reviewers mentioned the company's professionalism and the variety of precious metals offered.

Trustpilot

American Bullion has an excellent rating on Trustpilot, with 4.8 stars out of five. Most reviewers are very happy customers. A couple of minor negative reviews revolved around communication issues and slow shipping.

Common positive customer review themes include:

Most people are very happy customers and give the company five stars in their reviews. We did not find a lot of complaints, though there were a couple of minor ones.

Most complaints revolved around the sales staff being a little too aggressive. A handful of customers felt pushed into purchasing physical gold they did not want.

American Bullion responded to most of the complaints and worked to resolve them. Complaining customers seemed pleased with the responses. Some even changed their review to 5 stars.

pros & Cons

As we always say, you cannot please everyone. You will likely never find a company that checks every box for all investors.

We like to include pros and cons in our American Bullion review because it gives you a balanced perspective. You need to know more than positive reviews alone can provide regarding the business.

Pros

Cons

As you can see, the pros outweigh the cons in this American Bullion review. We advise our readers to compare companies before they purchase coins for investment.

You should not rush the process because your investment in the future is on the line. Never trust just anyone with your retirement funds.

Is American Bullion a Scam?

American Bullion is not a scam. The company has been around for many years. American Bullion offers investment services that help new clients, and seasoned investors put their retirement savings into gold.

Just because a company is not a scam does not mean it is the best company for buying precious metals. Thus far, we have not seen any major red flags, but we will update this review if we learn of any new developments.

What Precious Metals Does American Bullion Offer?

This gold dealer offers many options for precious metal investments. They sell gold, silver, platinum, and palladium coins and bars and can ship them directly to your home or your chosen depository if you invest in an IRA.

The company offers IRA-grade bars and bullion products. American Bullion goes the extra mile to help its customers by providing investors with the physical products they need for their IRAs.

Does American Bullion Offer Gold IRA-Approved Precious Metals?

American Bullion offers precious metal options approved for gold IRAs, including the following:

Fees & Pricing Information

American Bullion is transparent about their fees by offering upfront information. If you are a first-time customer, American Bullion will cover your fees for the first year if you meet specific criteria. Everyone else pays $75 per year for account management fees with accounts less than $100,000.

American Bullion charges account setup fees of $290, no matter the account size. We break down the costs below.

The $290 setup fee is slightly higher with American Bullion than other precious metal companies. Investors prefer an IRA company that does not charge extravagant fees, but American Bullion is not overly expensive with all the fees.

There have been a few complaints regarding hidden fees despite American Bullion's promise to remain transparent.

Before you buy gold from any IRA company, you should learn about the fee structure. Know how much you will pay in account setup fees, storage costs, and administrative costs from one company to another.

Compare the storage fees to choose the best company with a solid track record. An extremely informed buyer will learn about their storage options well before they purchase gold and silver.

Sign up for the free kit with each business to learn more about what to expect when buying precious metals. These kits are informative and will benefit your investment strategy.

How to Get Started with American Bullion

Only a few steps are involved if you want to start an investment with American Bullion. These steps will make you a verified member and will set up your account so you can begin investing in precious metals like gold, silver, platinum, and palladium.

  1. Fill in the contact form on the website or call the company.
  2. Talk with a customer representative to receive guidance on your gold IRA investments.
  3. Select the type of precious metals you want to buy for your gold IRA.
  4. Receive help filling out the necessary paperwork to roll over to your gold IRA or open a new account.

They work to make the process as easy as possible, especially for new investors. American Bullion understands the process can be confusing initially.

You may not know what coins are allowed for a gold IRA or how to start your investment. Investors can trust American Bullion to help them invest their money wisely.

FAQ About American Bullion

We have been as thorough as possible in this American Bullion review. The company's track record speaks for itself, even though the business has a few complaints.

You may still have questions about American Bullion and your existing IRA. We answer the top questions from our readers below.

American Bullion is located at 12301 Wilshire Blvd #305, Los Angeles, California. You can purchase from their brick-and-mortar retail location or online to get started with your precious metals IRA.

You can convert your 401k, SEP, traditional, or ROTH IRA account with American Bullion. They will guide you in rolling over your retirement funds so you can begin investing in precious metals with your new gold IRA. You can convert all or a portion of your retirement account into gold.

The minimum you can invest with American Bullion is $10,000. The gold dealer requires this minimum investment amount to cover any fees associated with buying gold bullion for gold IRAs. If you are rolling over from an existing retirement account, the minimum is $50,000.

You can withdraw from your gold account when you are at least 59 1/2 years old. Withdrawing before this age qualifies as a non-qualified distribution.
You will be subject to a 10% early withdrawal penalty. You will also pay income taxes on the withdrawn amount.

You cannot store your IRA gold at home. The IRS requires all precious metals to be held in an approved depository. Companies like American Bullion partner with depositories like Delaware Depository to store their customers' precious metals safely.

You do not have to pay taxes when you roll over an IRA. You will not owe any income taxes because you are not taking a distribution. The money moves from one account to another, so you never take possession to trigger a penalty or income tax charge.

Bottom Line: Is American Bullion Worth Your Time?

American Bullion appears to be a good dealer to work with, but we do not believe they will meet the needs of every investor. Before pursuing an investment with American Bullion, research carefully. Learn about your options, and always read the terms and conditions and fine print.

American Bullion may be the ideal company for your gold investment needs, but be sure you know what you are getting into before you dive too deep. Compare the business to others we have reviewed, and be sure you make the best decision before purchasing coins.

Diversifying your investment portfolio will protect your wealth and help you avoid catastrophic losses. Although gold investments have risks, they fare much better than stocks because they will never go to zero and make you lose everything. A gold investment may be the perfect option for your retirement preparedness.

Recognizing that banks often serve the interests of the wealthy rather than everyday investors, we approach banks, the monetary system, and politicians with skepticism. We strongly believe that individuals should have greater power over their finances, empowering them to make decisions about their money independently and reducing reliance on institutions and politicians.

The #1 ranked gold investment company has agreed to give our readers a FREE gold kit at no cost, until July 24, 2024. If you are even thinking about investing in gold, you need to request this kit.   

See How Smart Americans are Protecting Their Savings & Retirement

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