Bullionmax Review

Bullionmax Review

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Bullionmax is an extremely new company. Having been founded in 2020, they've been in business for little more than a year. And yet they've garnered a huge following online. Have people been satisfied with their experiences? What has Bullionmax done to earn this dedicated following?

  • Product Type: Precious Metals
  • Owner: Steve Emmett (Chief Operating Officer)
  • Rating: 3.5/5

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Details about this same company:

  • 1,000+ 5 star ratings
  • Protects over $1 BILLION dollars in retirement savings
  • AAA customer rated
  • A+ BBB Rating
  • 5x Inc 500 winner
  • 2021 company of the year

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About Bullionmax

Bullionmax Review

Bullionmax has a unique business model when it comes to precious metals. They will sell you a huge variety of precious metals products, but they cut out the middle man. This allows them to sell to individual customers at wholesale prices. Despite being a new company, the executives in charge have about a century of combined experience in the precious metals industry.

Bullionmax is a wholesale dealer that works with individual customers. As such, you're ordering products directly from their inventory. Since they have such a huge volume of inventory, they say that they are also unlikely to run low on their stock.

The company's main goal is to create a straightforward and convenient buying process that gives you high quality metals at the lowest possible prices.

According to the company website, their mission is to focus on enhancing the customer experience by providing excellent service and innovation. They want to build long-term relationships with their customers thanks to their low pricing, convenience, and level of dedication.

The company believes that precious metals are an essential component of a secure portfolio. They work to make sure that the most popular products are constantly available for purchase. By using their supplier relationships and company structure, they have minimized their overhead to offer lower prices.

According to the website, the company keeps pricing low by keeping expenses low. They also only acquire popular and essential precious metals, which minimizes the hassle of keeping rare items in stock. And they purchase at wholesale prices and then sell to individuals at similar prices.

About the Management

Bullionmax Review

The Chief Financial Officer of the company is Bryan Greenwood. He has sold precious metals for over ten years and has worked as the Vice President of Finance Administration at APMEX for six years. He also spent four years as the Chief Financial Officer for a fine jewelry company.

The Chief Marketing Officer is Andy Klein. He spent over ten years as an executive at a digital marketing firm working in communications. In addition, he has another decade of experience in selling precious metals.

The Chief Operating Officer is Steve Emmett. He has sold precious metals for four years prior to joining the company. In addition, he has 17 years of experience in managing logistics, products, and operations for a large company.

The Director of Human Resources is Matt Bailey. He has over 20 years of experience in HR and recruitment with multiple industries. He also spent nearly five years working with APMEX and learning about the precious metals industry.

Selling Your Precious Metals

Bullionmax Review

It's possible to sell your precious metals to Bullionmax. Since the company buys in bulk, you do need to have a minimum of $1,000 to sell before getting started.

You can get started either by emailing or calling the company. Then you'll be given a price and fast payment.

When you get in contact with the company, they'll ask you about what you have to sell. If you don't know, they'll help you figure out exactly what you're looking at. The company's experts will write down the details and then come up with a price quote.

When you accept the price, you must ship your items immediately. The price is locked in, so it won't change even if the value of the metals fluctuates. There aren't any hidden charges or fees.

The shipment will be received and processed. There will be a verification process to make sure that all the details match up accurately. Then the money will be sent to you. If there are any discrepancies with the contents of the shipment, Bullionmax will give you a revised quote.

Payment and Shipping

Bullionmax Review

Your price will be locked at the checkout for five minutes. If the time elapses, you'll have to go through the checkout again with the adjusted pricing. After you confirm your purchase, the price is locked for five business days.

The price of precious metals fluctuates on a minute-to-minute basis. Once you start adding things to the cart, you have ten minutes to check out before your price changes. But after those ten minutes, the prices will refresh. So if you spend a lot of time getting your cart ready, you might find that the final price isn't exactly what you originally saw.

Sales tax is charged based on your personal jurisdiction. So if there is sales tax on precious metals in your state or county, then you will need to pay sales tax. If there's no sales tax in your state, you don't need to worry about it.

When you make a purchase with Bullionmax, you have a huge number of payment options available. You can use Paypal or an eCheck when you place the order. If you want to switch your payment method, you can switch to a bank wire transfer, a mailed check, or a credit card.

You won't be able to switch to an eCheck or Paypal after placing the order. But all five payment methods are available when you first check out. The offer of Paypal makes Bullionmax one of the most convenient and versatile options.

Once the payment is processed, you will be sent a confirmation email. Mailing a check is the slowest form of payment. After it arrives in the mail, it needs several days to clear. However, you can send checks overnight to have them process faster. They will still need a few days to clear, though.

Bank wire transfers can be used for orders of any amount. However, if the order is in excess of $100,000, then the transfer must be verified. The company also reserves the right to reject these on a case-by-case basis.

You cannot pay for your purchase with money orders, pre-paid Visa cards, or cash.

As soon as the payment clears, the order will begin to process. This involves packaging and shipping it out. There's no guarantee of when your order will go out, since it varies depending on how large your purchase was.

Packages ship with full insurance through USPS and UPS. You'll need to sign for the delivery. If you aren't home, you might need to wait for a second attempt or pick the package up at the post office.

When the order ships out, you'll be sent an email with the tracking number. A package can take anywhere from 1 to 10 business days to arrive. Keep in mind that the company is not able to ship any items to a PO box.

If your order is over $199, you will receive free shipping. Though Bullionmax doesn't offer free shipping on all orders, this is a way of ensuring that their overhead is lower. That way, they can charge lower prices.

Is Bullionmax a Scam?

Bullionmax Review

Bullionmax is not a scam. Even though the company has only been in business for a year, they have an accreditation with the Better Business Bureau. They also have an A- rating, where the only reason for not giving an A+ is that the business is relatively new.

On the BBB website, there have been no complaints filed, but there are three customer reviews. All three give the company the top score of 5 out of 5 stars. There are nearly 1,500 reviews of the company on Shopper Approved, which give them a 4.7 out of 5 star average. This indicates that the majority of customers are very happy with their experience.

The question is just whether Bullionmax can stand up to the competition. There are many competitors that have similar ratings, and they've also been in business for years. The Bullionmax pricing is admittedly competitive, though.

Pros & Cons of Bullionmax

PROS

  • Competitively priced investment grade bullion.
  • Great online reviews despite not being in business long.
  • High level of transparency.

CONS

  • Newcomer in the business with only a year of experience.
  • May not have lower prices than some of the competition.
  • Not much information about the company's specific approach to IRAs.

Final Thoughts

Bullionmax has become one of the strongest newcomers in the precious metals industry. Though they have only been around for a year, they have well over a thousand positive customer reviews online. Most customers report having an excellent experience with the pricing, shipping, and customer service team.

However, there are a few potential drawbacks. The first and most obvious is the age of the company. Some people don't want to work with a bullion dealer until they're a little more established. And there are plenty of highly established competitors in the industry.

Another drawback is the IRA services. While the Bullionmax website does have comprehensive information about gold IRAs, there's not much information about how the company itself handles them. Is there an in-house IRA team? Do they streamline the paperwork process? Will they refer you to a trusted custodial partner? None of these answers are forthcoming.

So if you want to set up a precious metals IRA, you're better off working with a company that specializes in this. There are companies that streamline the IRA process and make it as simple as possible, and they also tend to have low setup fees.

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