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American Bullion started in 2009. The idea behind the company was to create the best broker in precious metals. Since its inception, the company has focused on offering the best customer service.
On review sites, the company continues to garner positive reviews and ratings. They have not been without challenges, but they try and handle these challenges and complaints as soon as they arise.
This is our in depth review of American Bullion.
Before we get started with this review:
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About American Bullion
American Bullion started in 2009. It is the brainchild of Nevtan Akcora and Orkan Ozkan, two traders with several years of experience in commodity trading.
When the company started, they signed a deal with Sterling Trust Company and then another with the Delaware Depository Services to start the transition from paper asset IRA to physical asset IRA.
The first few months saw the company garner several customers and the term “gold IRA” became popular. The company was among the pioneers of gold IRA. It was only in 2010 that several other gold IRA companies came up, offering the same services.
In 2011, the company had the highest number of precious metals IRA accounts. With the advent of Bitcoin, the company started accepting payments in Bitcoin in 2013, becoming the first-ever gold IRA company to make such a move.
They have won several awards and recognitions since their inception. As a precious metals IRA company, American Bullion converts paper IRA accounts, such as 401(k) and other retirement accounts and converts them to gold IRA accounts through a rollover.
Investors can choose from a wide range of products, depending on the market. You can choose between American and European coins, some from the period before 1933 and others are modern. There are coins and bars to meet your needs and your budget.
Besides the popular gold and silver offerings, the company offers platinum and palladium bars and coins. Today, the company deals with assets worth several million from investors all over the US and Canada.
The minimum investment for new customers is $50,000, but these new customers do not pay fees for a year after registration.
If you have a 401k account or any other investment account and you have enough savings to meet the minimum needs, you can create a gold IRA account and start watching the value of your precious metals grow.
The main challenge the company faces is in the delivery of precious metals. If you need to have your gold delivered to your home, the company makes you wait for a relatively long time.
Management and Staff at American Bullion
Nevtan Akcora: CEO
Nevtan Akcora partnered with Orkan Ozkan to start American Bullion. He has been CEO since the company started. Before they founded American Bullion, Nevtan was the COO and the President of Onstar Worldwide.
He had also been a senior executive at several trading companies in the U.S.
Erman Ebren: Director of Marketing
Ebren has been with American Bullion for more than a decade. Before that, he was a systems engineer at Siemens. Together with Akcora, he leads a team of 18 employees.
Before rising to the level of director of marketing, Ebren worked in several positions in the marketing department. The exponential growth of the company can be attributed to his skills and determination.
American Bullion Fees and Pricing
First-time customers will have their fees slashed. Other customers will pay $75 every year in account maintenance fees for accounts with an investment of less than $100,000.
In total, the account setup fees will be about $290 regardless of the amount of investment the investor makes. This amount is slightly higher than what other companies charge.
In your first year of investment, you do not have to pay any fee. The company takes care of your storage and administrative costs. There are not many companies that have such an offer today, so investors will appreciate what the company offers.
Here is a breakdown of all the fees you need to pay:
•Annual fee for accounts under $100k is $75
•Annual fee for accounts over $100k is $150
•Total fees, including storage fees for all accounts is $290
American Bullion offers two storage options for all their customers:
These two companies are the custodian of your precious metals. These two are popular depository companies, and they offer great security features for the safety of your metals.
Again, they are insured, so you are sure you never lose anything. The first-year promotion allows you to start your investment immediately without any fees.
Besides the two depository options, the company allows you to store your gold at home. This is not a safe option, but you can still take it for personal investment.
Although there are complaints from investors who claim that it takes longer to have the gold delivered to them, having your gold stored at home is an ideal way to hedge against other forms of investment and to ensure you are safe from any plans by the government to confiscate gold from investors.
If you ever wanted to see your gold at the depository, the Delaware Depository allows you to visit with an appointment. Your gold takes a few weeks before it gets to the depository.
After making an order, wait for a few weeks and you will have a confirmation message.
In an industry where you may be working with one company for more than 40 years, you need to know that they have what it takes to give you the best investment. American Bullion has a host of positive reviews as a guarantee that they do a good job.
On Better Business Bureau (BBB), the company had an A+ rating, which is the highest score awarded to companies. However, the company profile is no longer available on BBB.
Before the profile was pulled down, American Bullion had a lot of positive reviews with most customers praising their adequate customer service.
On TrustLink, the company has several positive reviews. Almost all reviews are positive with customers again praising their good customer support, constant communication, simple website, and simple investment process.
They are also on Business Consumer Alliance with an AAA rating – this, again, is the highest rating BCA gives. Although there are only a few reviews on BCA, they are all positive reviews.
American Bullion has the highest amount of reviews on Trust Pilot. Here, the company has a rating of 4.4 stars out of a possible 5 stars. Although this is not the highest rating for a gold IRA company, it is still a solid rating.
Out of all the reviews, the company only has a few negative reviews. Most of these negative reviews are on Yelp. Most of these reviewers complain of the slow delivery of their gold.
Why Invest in Gold Bullion?
Gold bullion offers a low-risk form of investment for times of uncertainty and political instability. Gold is one of the earliest forms of long-term investment. Some of the reasons why you should invest in gold include:
As the global economy suffers, gold plays by different rules. Inflation and reducing interest rates do not seem to affect gold the way they affect fiat currency or stocks.
Gold offers a safe haven for when you need to keep your wealth intact to protect it from turbulent times. The economy is unpredictable and that is why you need to have gold as part of your investment portfolio.
When you own physical gold, you have more control over your investment. Whether you have the gold in a depository or you have it at home, you can decide where to direct your investment.
For so many years now, the value of gold has steadily gone up. This track record is as close to a guarantee investors will find for growth in the future.
IRA Approved Products
You can invest in gold, silver, platinum, and palladium in coins or bars. American Bullion only specializes in individual retirement accounts. They follow all the rules set by the IRS to ensure that you have the right physical products.
They offer the following coins among others:
Why Put Gold in Your IRA?
Individual Retirement Accounts (IRA) protect your retirement as well as your family's financial security.
These special accounts allow you to set aside tax protected savings that you can use in the future.
With these long term accounts it's important to allocate a significant portion to assets that are solid and reliable, so you have a secure and comfortable retirement.
You can have cash in an IRA, but that is devaluing at a rapid pace and inflation is out of control.
You need an asset that's dependable, retains it's value, and even increases in value over time, and there is no better asset for this than gold.
With the world's economy struggling through lockdowns, shortages, wars, and inflation, uncertainty has never been higher and investors are protecting themselves by placing physical gold in IRA's.
A gold IRA investment prospers from these crisis that negatively affect most other assets.
Risk is knowing the economic dangers and doing nothing to protect yourself and your family.
Safety is knowing the economic dangers and taking action to protect your financial future, and this easy to do with a Gold IRA.
Frequently Asked Questions
Which retirement accounts does American Bullion convert?
You can create an account with American Bullion if you need to convert your traditional IRA, Roth IRA, IRA, and self-directed IRA. The process of rolling over these accounts is different, and their experts can help you through each of these.
What do I need to complete the gold IRA rollover?
To get started, you need a shipping and transaction agreement. This has to come before the company creates an account for you and purchases gold on your behalf.
In the agreement are legal terms, such as risk assumption, payments, delivery, prices, storage, and cancellation. Before you sign this agreement, you need to read it keenly and understand everything.
You also need to send a self-directed IRA application to the Self-Directed IRA Services.
This should list your contact information and the kind of rollover you need. Items, such as name, date of birth, and social security number should be listed accurately on the form.
Once you send this application, fill a self-directed IRA transfer request to the current custodian of your account. Completing this form finalizes the creation of the gold IRA account.
From them, your retirement account hold will send a wire transfer or a check, which should go to the Self-Directed IRA Services in form of a deposit coupon.
Can I withdraw my gold from the account?
You can withdraw your gold whenever you want. However, anyone younger than 59-1/2 years will pay a penalty of 10% for the amount they withdraw. You will also pay the regular income tax.
This is how the government ensures that younger people do not use up their retirement investments.
Do I pay any taxes when I roll over my IRA?
No, there are no taxes for when you roll over. The transfer process will not cost you any taxes, and it should be completed within 60 days. However, you have to make the deposit within 60 days or there will be taxes and other fees involved.
Can I receive my IRA gold for home storage?
You can invest in physical gold and have it delivered to your home, but not for a gold IRA account. For gold IRA, the IRS requires that all the gold goes to the depository immediately.
Once you get to the IRS-defined age, you can withdraw or sell your gold as you wish without any challenges.
Why Should You Consider Gold?
Ask yourself this: Does $100 buy you nearly as much groceries as it did only a year ago?
Does $100 buy you as much gas as it did a year ago?
Where do you think this trend is heading?
Are your retirement savings protected from this level of inflation?
Gold has been the foundation of individual wealth throughout human history.
The U.S. dollar is being absolutely abused by the politicians and investors are "rediscovering" what their grandparents knew all along: that gold is the ultimate protector of your wealth.
For every problem the politicians think the answer is to print money. Whether it's a pandemic, stock market decline, war, shortages, the government always prints money to "solve" the problem.
And because of this your dollar will buy you less and less than it did the year before.
There is a reason the government abandoned the gold standard and that is because gold puts a stop to this madness!
What is old is new again.
The way to protect your wealth is to put a meaningful portion of it, in a real tangible asset that cannot be devalued overnight, and that asset is Gold.
American Bullion does a decent job for their customers. It is among the most popular gold IRA companies, and it can help you make a simple rollover.
If you have any questions, you can always reach out to the experts, and they will help you out. Before you start your investment, you need to read as much as you can about gold IRA.
American Bullion is a decent company, but we do not recommend them. They aren't a scam, but they are not the best choice for gold investments and certainly not IRA's, like other companies we have written about on this website.
You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:
Or, if you like what you have read about American Bullion, you can go to their website below: