Scott R. Hillford
Author & Founder Gold Is Money 2
Disclaimer: Some or all of the companies reported here may provide compensation to us, at no cost to our readers. This is how we keep our reporting free for readers. Compensation and detailed analysis are what determines how companies appear on this website.
Inflation is rising, and the stock market is falling. When the stock market struggles, so does your employer's investment portfolio. You may be looking at your current retirement plan and asking if you can do better. If you want to retire comfortably, it's not too late to diversify your investment portfolio.
A diversified investment portfolio offers many different benefits to new and experienced investors. Conventional employer plans typically offer the most popular stocks, bonds, and mutual funds. These types of investments perform well when the market is up, but when the market declines, so do these traditional investments.
Instead of watching your current portfolio's value rise and fall with the market, you can take steps to minimize your losses. In addition to stocks and bonds, a diversified portfolio can contain alternative investments like precious metals, real estate, and collectibles. You even can diversify your portfolio with cryptocurrency.
Prior reading further, it is important to acknowledge that investing your savings is a not easy. When it comes to incorporating precious metals into your investment portfolio, how can you tell which companies are reliable?
After devoting extensive time and effort, we have conducted thorough research within the precious metals industry and compiled a selection of the most trustworthy companies.
Take a moment to read our list and determine if BullionMax has what it takes to make the list this year!
This lets you to quickly compare the leading companies in this field and select the one that aligns with your specific requirements and investment objectives.
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Before diving into the world of alternative investments, new investors should consider the stability of alternative assets. Most investors are probably familiar with the volatility of cryptocurrency.
In November 2022, CNBC reported that the two largest cryptocurrencies lost over 2 billion dollars in value.
In contrast to the dizzying highs and lows of crypto, precious metals have a long history of adding financial stability to a portfolio. Gold and other precious metals can provide a hedge against inflation.
Gold and silver prices often rise when there is economic and political turmoil. When your traditional investments decline in value, your precious metals may increase in value.
The main method for diversifying your portfolio with precious metals is to open a precious metals IRA, also known as a Gold IRA. These IRAs are self-directed. The account holder makes all of the transaction decisions, and the IRA-approved custodian carries out the transactions.
What is BullionMax?
If you want to open a Gold IRA, you will need to find a reputable company to open and manage your account. IRS regulations state that you must use an approved custodian to manage the account. You must store your precious metals in an approved depository.
Investors also may store their precious metals in an FDIC-approved safe deposit box. When you're researching Gold IRA options online, you probably encounter BullionMax. Based in Torrance, California, BullionMax is a newer gold and silver dealer that sells IRA-approved precious metals.
They also offer niche collector coins that are not IRA-approved. This company prides itself on offering low prices and an excellent customer experience. Keep reading to learn how BullionMax compares to the competition.
Founded in 2020, BullionMax focuses on creating a safe and secure investment experience for customers. BullionMax offers customers a "no-nonsense" buying experience. They sell precious metal products from their warehouse directly to consumers. This direct sale method means lower prices for investors.
BullionMax builds a better customer experience by investing in customer service and innovation. The team at BullionMax focuses on building long-term customer relationships. The company claims to offer competitive pricing because they eliminate the middleman.
Customers can choose products from the Precious Metals Essentials catalog. BullionMax limits its offerings to essential precious metals like the most desirable coins, bars, and other precious metal products. Since BullionMax operates its own warehouse, the team promises they won't run out of inventory.
Chief Financial Officer: Bryan Greenwood has 10 years of experience in the precious metals industry. Before coming to BullionMax, Greenwood was the Vice President of Finance, Administration, and Risk at APMEX. He also was the Chief Operating and Financial Officer at Molina Fine Jewelers.
Chief Operating Officer: Steve Emmett came to BullionMax with 17 years of executive-level experience in operations, product management, and logistics. He also has 4 years of experience with precious metals retailing.
Chief Marketing Officer: Andy Klein serves as the Chief Marketing Officer at BullionMax. He crafts the overall communication strategy, including search engine marketing, search engine optimization, display advertising, email, TV, radio, and direct mail. Klein works to keep customers informed about new deals, products, and prices.
BullionMax focuses on buying and selling precious metals. They do not offer self-directed IRAs. If you are a customer interested in opening a Gold IRA, BullionMax recommends that you call their toll-free phone number or request a free information kit.
BullionMax offers to connect customers with one of their Gold IRA partners. BuillionMax works with three highly-respected custodians in the precious metals IRA industry:
GoldStar Trust: Founded in 1989, GoldStar Trust focuses on providing custodian services for self-directed IRAs. GoldStar Trust operates out of Canyon, Texas. Currently, they serve over 60,000 clients and hold over six billion dollars in assets.
GoldStar Trust is not accredited by the Better Business Bureau. They have an A- rating and an average rating of 1 out of 5 stars. However, this rating comes from five customer reviews, which may not be enough to make a judgment about this company.
Strata Trust Company: BullionMax also works with Strata Trust Company. Based out of Waco, Texas, Strata Trust Company opened in 2008. The company offers custodianship services for self-directed IRAs that hold real estate, precious metals, futures, and more. Over 40,000 customers trusted Strata with their investments.
The company currently holds over four billion dollars in assets. The Better Business Bureau gives Strata Trust an A- rating. They have a rating of 1.5 stars out of 5, averaging over 8 reviews. Customer complaints mention that Strata Trust provides better customer service to wealthier clients.
Equity Trust: BullionMax also recommends Equity Trust. Founded in 1974, Equity Trust became an approved self-directed IRA custodian in 1983. The company does not have Better Business Bureau accreditation.
They have an A rating with the Better Business Bureau and an average review of 3.96 stars out of 5. This average is based on 113 customer reviews. Although this is a lot of reviews, Equity Trust should have more than 113 reviews after almost 50 years in business.
The Better Business Bureau reports that they received 52 complaints about Equity Trust in the last 12 months and 93 complaints in the past three years. After you choose your custodian company, you'll need to choose a depository for storing your precious metals.
BullionMax works with two depositories: Delaware Depository and Brinks International. Both depositories offer secure storage for precious metal investments. Customers also may store their investments in an FDIC-insured bank's safe deposit box.
BullionMax offers both IRA-approved and non-IRA-approved precious metals for sale. Investors purchasing precious metals for a Gold IRA must select IRA-approved precious metals.
BullionMax offers popular IRA-approved coins like British Britannia coins, Canadian Gold Maple Leaf coins, American Eagle bullion or proof coins, Australian Kangaroo coins, and Chinese Panda coins. Investors should check the company's website to view current stock.
Collectors also may purchase other niche coins like the Australian James Bond Roger Moore silver coin and the Simpsons Treehouse of Horror silver coin. BullionMax customers also can round out their collections with platinum and palladium bars and coins.
The company offers popular palladium products including the American Eagle palladium coin, Canadian Maple Leaf palladium coin, and Russian Ballerina palladium coin. If you have questions about whether or not your purchase is IRA-approved, contact BullionMax for more information.
Investors can fund their precious metals IRA with a cash contribution, transfer, or rollover. Like your conventional IRA, you can transfer or roll over funds into your Gold IRA without paying tax penalties. You also may be able to do an indirect rollover.
Investors can roll over the following accounts into a new self-directed IRA: Traditional IRA, Roth IRA, SEP IRA, SIMPLE IRA, 401(k), 403(b), and 457 plan.
BullionMax ships your purchases via the United States Postal Service or UPS. Customers in Alaska and Hawaii are limited to USPS shipping due to the cost. Customers must have their orders shipped to their billing address for security purposes. BullionMax will not ship to UPS Stores for pick-up.
Are There Any Red Flags for BullionMax?
BullionMax received Better Business Bureau accreditation on April 26, 2021. The company currently has an A rating and 52 customer reviews. The average rating is 4.96 out of 5. In the past three years, BullionMax received one customer complaint that was closed.
The customer reported that they did not receive the silver they purchased. In the review, the customer writes that they tried to contact BullionMax for a refund, but the owner refused. After several responses from BullionMax, the BBB closed the complaint.
Customer reviews on the Better Business Bureau state that BullionMax provided quick shipping and good follow-up communication. Several customers new to precious metal investing stated that BullionMax made the investment experience easy.
On Google, BullionMax has 163 reviews with an average rating of 4.7 out of 5 stars. Customer reviews praised BullionMax for selling good products at great prices. Some reviews complained about poor packaging for shipping, and other reviews complained about high shipping charges.
One reviewer paid extra for a random assortment of coins and only received coins from the current year. BullionMax customer service did respond and attempt to resolve the situation.
On TrustPilot, BullionMax has an Excellent rating with an average of 4.5 out of 5 stars. Customer reviews praise BullionMax for its easy-to-use website and smooth purchasing process.
One reviewer stated that most coins they wanted to purchase were out of stock, even though BullionMax claims to operate a company warehouse to hold inventory. Other reviews stated that the coins looked better in person than on the website.
Is BullionMax a Scam?
Although some customers have legitimate complaints about their BullionMax transactions, the company is not a scam. BullionMax has mostly positive ratings on sites like TrustPilot, Google, and the Better Business Bureau.
They focus on selling gold, silver, platinum, and palladium in coins, bars, and bullion. Instead of offering a large catalog of products, BullionMax focuses on offering the most popular precious metal investments.
Although BullionMax does not offer Gold IRAs directly, the company does work with well-known custodian companies and depositories in the industry. The BullionMax website also features a Knowledge Center with articles about investing and opening a Gold IRA. New investors may find the articles helpful.
Pros & Cons
BullionMax has been in the precious metal investment industry for over two years. Customers who don't want to take the risk by purchasing from a new company can find other more established gold dealers.
However, BullionMax already has excellent ratings across several reputable review sites. Customer reviews state that BullionMax offers high-quality products. When the company receives complaints, they attempt to remedy the problem.
BullionMax partners with established custodian companies like Strata Trust and depositories like Brinks. The reputation and longevity of these companies offset BullionMax's age.
The BullionMax website also features a detailed catalog that offers the most popular gold, silver, platinum, and palladium products. Although the website is easy to navigate, the site does not mark which products are IRA approved and which products are not suitable for an IRA.
Customers can find educational materials and articles on the website's Knowledge Center. BullionMax's representatives provide responsive customer support.
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