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Bullion Direct Dealer Rating

Discussion in 'PM Dealer Feedback' started by Scorpio, Mar 30, 2010.



?

How do you rate this dealer?

  1. * One Star

    4 vote(s)
    12.5%
  2. ** Two Star

    3 vote(s)
    9.4%
  3. *** Three Star

    5 vote(s)
    15.6%
  4. **** Four Star

    6 vote(s)
    18.8%
  5. ***** Five Star

    14 vote(s)
    43.8%
  1. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    Please post your comments regarding BD here in this thread.

    You may rate the dealer to your satisfaction level in the course of your business.

    Please understand that this is a informational content thread for the sole purpose of passing information and experiences regarding a specific PM dealer to other members.

    GIM2 does not endorse or disapprove of any member in this list of threads.

    GIM2 is not responsible for any disputes, resolutions, or comments made by the members.

    A member may reply to the thread and post comments accordingly.

    No new threads will be added except by the moderators.

    You may also rate the dealer using the vote button, and the votes will be public, 1-5 stars, one being the lowest, and 5 being the highest rating.
    __________________
     
  2. j-son

    j-son Seeker Seeker

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    Occupation:
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    one of my top dealers to use. their website is easy to use and their pricing is more than fair.
    never had any bad transactions from them on buying or selling.

    i always check them when i am looking to buy.
     
  3. livtocruz

    livtocruz Seeker Seeker

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    I'm with j-son on this one. I also use them along with Apmex and Provident to compare current pricing.
     
  4. budfox

    budfox I have become comfortably numb... Midas Member

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    I have used BD and Apmex many times without issue. The nucleo platform is good if you like to play and bid on stuff. Apmex customer service is excellent. BD does not have any customer service. If you want your hand held do not use BD.
     
    Thecrensh likes this.
  5. shamrocks33

    shamrocks33 Silver Member Silver Miner

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    I have only good things to say about Bullion Direct. They ship fast and they ship Very secure with their packaging. A+
     
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  6. 1981

    1981 New Member

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    I voted three stars, since I have had a few issues with BD. They are a pretty solid operation and I use them regularly, but you need to watch them. They recently sent me a few thousand dollars of pm's that I didn't order, and the user forum on their website has several other stories of recent mix ups, hopefully due to their recent facility move. They also got into a little trouble back in '08 and lots of people waited months to get pm's that they thought were in stock and ready to ship. All in all, if you are new, nervous, or need hand holding, then pay the few extra bucks and go with APMEX. If you're a cold eyed pro who likes to save a few FRNs and has the patience/ intestinal fortitude to deal with their occasional goofs, then BD will work out ok.
     
  7. Gunguydin

    Gunguydin New Member

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    Ditto with all of the above good points. Cheapest prices that I have found online for small orders. Love the Nucleo.
     
  8. dumbnbroke

    dumbnbroke New Member

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    I gave them 5 stars. a note about the customer service. they are somewhat laid back, so to speak. however they are genuine good peeps. I have 2 checking accounts with the same style check and by accident sent them a check from the wrong account, it did not clear. I sent them an email explaining the situation and asked them to redeposit since I had transferred funds to cover the amount. They did and no made no punitive charges because of my mistake. Not many businesses will do this.
     
  9. Montecristo

    Montecristo Silver Member Silver Miner

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    I gave them 3 stars simply because I use them mostly for selling on the Nucleo and they are very slow to send out payment on merchandise sold. There is absolutely no reason that it should take 14 days to receive payment from a sale. Other than this inexplicable slowness they are OK.
     
  10. OverOver

    OverOver Silver Member Silver Miner Site Supporter

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    I have never bought from BD's fixed price section but do use their Nucleo Exchange for both buying and selling.

    I really do like it alot! Whoopie

    ***changed my mind about BD. Additional post below***
     
    Last edited: Dec 15, 2012
  11. eggman

    eggman New Member

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    I buy and sell there almost weekly. I have had a few glitches here and there but have spent at least 75% of my PM money there. I have shipped metal to them using their incoming shipping service
    which is a very reasonable deal and works great. I have sold there, bought there, had checks sent to me and never had an error. They are as responsive to my customer service
    requests as I need them to be and once you are a regular they fulfill special requests when asked.
    The Nucleo exchange is unique and valuable. It allows you to be a short or long term trader combined with the free storage. You can short sale, you can long sale. It is found nowhere else.
     
  12. charlie1023

    charlie1023 Seeker Seeker

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    I have bought several times from these guys as their prices as well as the prices on the Nucleo site can be tough to beat. I haven't done any product draws yet but based on feedback here, I'm sure my metal is in good hands.
     
  13. C4talyst

    C4talyst New Member

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    Nearly all my PM purchases in the past two years have been through Bullion Direct. They are slow to ship and although I've been generally happy with their service, my next large order will be elsewhere.
     
  14. Raven

    Raven New Member

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    I believe the 14 days is due to the buying party. If they (buying party) send a check, BD will hold everything until the check clears.
     
  15. C4talyst

    C4talyst New Member

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    I'm still waiting on 10 silver bars I ordered over 45 days ago. They shipped me 90% of my order, and have yet to send me the morgan head bars. They have been putting me off repeatedly by emailing and saying the bars will be taken from their long-term storage facililty. Every week, for the last 3 weeks, I've received an email stating that. Perhaps I should cut them some slack as this is the first time I've had a problem with BD. This instance certainly leaves a lot to be desired.
     
  16. SilverWolf

    SilverWolf New Member

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    Their website is very difficult to navigate! I thought I was getting a good deal until I saw their 4% Credit Card fee, and their ridiculous shipping fees.
     
  17. Espada

    Espada Seeker Seeker

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    I've used BD a couple of times, and eventually gotten what I ordered. Yes, my hand needs holding when three weeks after my certified check has been run through, I haven't heard a word. After e-mailing (forget the telephone) several times, a canned answer saying "it's in the mill," might come back, a week later. Same thing, another week or two later. Check out the BD forum... almost nobody gets taken to the cleaners, but "customer service," including responses to questions, is non-existent. Sounds like a one-man operation. But again, fair prices, and eventually, satisfaction.
     
  18. savewithsilver

    savewithsilver New Member

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    Thanks for all the great post here. I also found a site that allows customers to leave reviews for dealers http://golddealerreviews.com/gold-dealers/bullion-direct. These are actual reviews from past customers. I like seeing what past customers have to say about service.

    Thought I would add this.
     
  19. charlie1023

    charlie1023 Seeker Seeker

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    I have used BD for some of my metal purchases however I always would keep my purchases with them so as to not pay the shipping fee and subsequently sold all of the junk and rounds that I had puchased with them. The ACH transfer with my money took about 10 days which wasn't great but it has come across everytime that I have sold. Just this past week BD sent ou tnotice that they were increasing their shipping fee so I decided to take posession of all I had on account with them and requested a product draw this past week. After my fee cleared that I had on account with them, my metal shipped very quickly and I had it in hand within 6 days time so I was quite impressed. I must also say their packaging was top notch, much better than any of the other vendors on this PM Dealer Feedback forum all of whom I have used multiple times in the past. Quite frankly I was very pleased with the shipment and quality of the merchandise.
     
  20. The Good Doctor

    The Good Doctor New Member

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    I have bought and sold PM's on BD several times over the last couple of years. Here are my thoughts:

    1. If you are willing to be patient you can find some great deals in the Neucleo Exchange

    2. In comparison to the big sites (APMEX and Gainesville Coins) the prices in the Catalog are very competitive

    3. The ability to store small orders until you are ready to ship everything in your portfolio is an invaluable cost saving feature. You can ship one coin or 100 for the same price.

    4. If you are wanting and ultrafast turnaround this is not the site for you. You can purchase an item from the catalog, pay with a credit card, and expedite the shipping but that would be hugely expensive and you will not be happy. This site is built to place multiple orders over time, pay by check or wire if you are spending over $5K, and have the PM's mailed to you when you are ready, for a flat fee.

    5. The packaging used to ship the PM's is first class and the coins have arrived in perfect condition.

    6. Everything that i have ordered has exceeded my expectations in regards to condition.


    All in all, if you are looking for competitive pricing and a great place to buy and more importantly sell PM's this site needs to be in your top 2.
     
  21. OverOver

    OverOver Silver Member Silver Miner Site Supporter

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    Nucleo Exchange from BD has been my buying and selling home for the past 4 years.

    NO MORE

    With their new rules in play they've become a drag.

    Last week I sent a 1 oz Maple Leaf gold to sell on Nucleo. Use to show up in my account
    right away so I could then sell and get the money into my account right away so I could
    buy something else from them right away.

    Now, when you send items in for sell on Nucleo it gets put into a special storage thing and
    the item(s) do not show up in your account. Then when you sell you have to contact them
    and ask that they move the item from storage to statisfy the sell commitment. I don't know
    what happens to the money:check by mail or placed into the account---don't know.

    So, if the timing is close to or on the weekend you won't know WTF until Monday.

    I use to think BD was the greatest.

    Now I think they are the greatest bozos. Along with the people who abused the storage set-up
    which caused the rules change.
     
  22. OverOver

    OverOver Silver Member Silver Miner Site Supporter

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    Well, I finally got some help via their chat. Whoever Kaleb is should have their salary doubled. Anyway, I've been credited with selling the gold ml. But, as I said earlier...where's the money? Oh, that's another 3-5 days away.
     
  23. Stackem High

    Stackem High New Member

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    Re: Bullion Direct Dealer Rating ---- VERY POOR

    Heads Up Everyone!!!!

    In past years I've done business with Bullion Direct (BD) with no problems. . . but lately I'm having serious problems. After several "Nucleo" trades earlier in the year I submitted a product draw (ship me my bullion) order along with Visa CC payment for the fees. All of the product was from trades for both Gold/Silver via Nucleo (not their catalog items) which had fully cleared through the process and shown as "available" many weeks ago. After two weeks, no notice of shipment yet. I begin contacting them but only through emails because they do not list a live telephone number on their website. Below is the initial correspondence. You can judge for yourself, and this is not yet resolved either. It seems to me that if my purchases were from other Nucleo trading members that once their goods had sold they would send (or had already sent in) their product while BD matched it up with my payment for each. I see no reason for any delay which is now going on three weeks.

    The whole thing makes me very concerned and a bit suspicious too. I'll be calling the president of BD this afternoon if I do not receive a satisfactory answer and shipping confirmation.

    Correspondence:

    To: Bullion Direct
    From: StackemHigh 5/27/2013
    Subject: ORDER STATUS

    Regarding order number XXXX-XXXXXXX
    Payment for my product withdrawal was cleared a full 2 weeks ago. What is holding up shipment of my products?? WHEN WILL SHIPMENT TAKE PLACE? Will BullionDirect be refunding a portion of the commission charged on these transactions since there has not been timely processing of the product draw order? BullionDirect is costing me money in lost opportunities as I wait for completion of withdraw shipment - please reply with direct answers to my questions (not a reference to general FAQ or otherwise).

    = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
    Reply from BD 5/28/2013 5:10pm
    Dear StackemHigh,

    Thank you for contacting the Bullion Direct Support Team.
    Our distribution facility only has so much product on hand. Whenever the market went down the number of orders that we had depleted our stock within it. As of right now we are waiting on a shipment from our long term storage to our distribution facility. Due to the size of this shipment it can not be tracked. They do this for security reasons so that less people know whenever it is in transit. Because of this, I do not have a date that your order will be shipped out. I am sorry for the inconvenience, but we are doing everything that we can to get your order out.

    For immediate answers to future questions, please visit our Knowledge Base. Please feel free to contact us if you have any additional questions.

    Sincerely,

    Bullion Direct Support


    = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =

    To: Bullion Direct
    From: StackemHigh 5/29/2013, 9am

    The questions I asked have not been addressed!

    My product(s) were from Nucleo trades so "product on hand" has nothing to do with it. My understanding is that BD provides the service of matching sellers/buyers within the Nucleo system and that this, as well as the verification for each trade was part of what service was provided in exchange for the commissions charged. All of those trades were shown complete many weeks ago prior to entering the withdraw order to have all shipped to me.

    Please provide specific answers to my questions and get my shipment out TODAY!! I will watch for your response and a tracking number this morning.

    = = = = = = = = = = = = = = = = = = = = = = = = = = = = =

    AS OF 5/30/2013, 9AM THERE HAS BEEN NO RESPONSE FROM Bullion Direct

    So my efforts to resolve continue. Just in case anyone wonders, I worked 20+ years as a Sr. Contracts Administrator for the largest Aerospace Mfr. in the world so this is not a case of not understanding the process or terms of use (which is pretty one-sided IMHO). I'll never to business with them again.
     
  24. 97guns

    97guns Gold Member Gold Chaser

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    last year a buddy of mine went to take delivery of his "allocated" monster box of 2009 eagles from them but when they went to the cubbard it was bare. they tried to push 2012's on him but he insisted on taking delivery of his "allocated" monster box, took them 3 weeks to finally come up with one.
     
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  25. Cigarlover

    Cigarlover Gold Member Gold Chaser

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    Last week I placed a small order with BD. Small as in less than 500.00. My first order with them since 2011. I recieved an email from them today requesting my SS number. I respectfully declined on the basis that I am not even close to the 10k cash purchases and therefore no reporting would ever need to be done to the IRS. Anyone else been asked for this? I usually pay with CC or money order.

    Are there any other vendors out there where I can store my PM's with until I decide to ship them?
     
  26. Chester-Copperpot

    Chester-Copperpot Gold Member Gold Chaser Site Supporter Platinum Bling

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    You could try APMEX-Citadel. Haven't used them, but APMEX are as safe a bet you can find online.

    http://www.apmex.com/citadel
     
    Cigarlover likes this.
  27. Cigarlover

    Cigarlover Gold Member Gold Chaser

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    Thank you I will look into them.
    I did just hear back from BD. I did win this round but any further purchases with "Cash instruments will require a SS number"
     
    Last edited: Oct 28, 2013
  28. Usury

    Usury Gold Chaser Platinum Bling

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    So I'm assuming that you paid via money order?
     
  29. Usury

    Usury Gold Chaser Platinum Bling

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    OK, apparently they now require a SSN on file in the profile for all customers? I tried to place an order and discovered it this morning, so they are off my radar from now on. I can't think of any legit reason they'd need that info and it presents too great of an identity theft risk to my view, so they are off my radar from now on. Too bad...they had good prices quoted on SAE's and RCM 100 oz bars.
     
  30. OverOver

    OverOver Silver Member Silver Miner Site Supporter

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    These people just can't seem to ever have a consistent run of good service.

    Several threads on their forums have comments of slow or long ongoing waits
    for delivery. The problems 'seem' to be related to a facility move back in January. There's
    a notice on there website stating to expect delays. Anybody know anything?
     
  31. About.Ag

    About.Ag Seeker Seeker

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    I am looking into this, and hope to have some more information within the next few days.
     
    Last edited: Jun 14, 2015
  32. About.Ag

    About.Ag Seeker Seeker

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    I now have a page at http://about.ag/BullionDirect.htm that I am using to keep track of what is going on.

    I am putting together a list of how long people have been waiting for orders (mostly from BBB complaints and forum postings), and hope to get a better idea of whether things are getting better, worse, or staying the same.
     
  33. Cigarlover

    Cigarlover Gold Member Gold Chaser

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    It now says they have suspended operations and are not taking any orders due to long delays. It may be temporary though.
     
  34. About.Ag

    About.Ag Seeker Seeker

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    Hopefully temporary. However, I do not see any sign that they have shipped any product or sent any checks/wires in over 2 weeks.
     
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  35. About.Ag

    About.Ag Seeker Seeker

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    I E-mailed the Bullion Direct CEO yesterday, and asked point blank if they were out of business. He chose not to respond. The only sign of life at Bullion Direct I have seen in those 2+ weeks is that they changed the note at the top of their webpage. It is very possible that nobody has been in their headquarters for over 2 weeks.

    I now feel comfortable saying "Bullion Direct is insolvent and out of business." I am covering this http://about.ag/BullionDirect.htm . I think it is time to spread the word and make sure people know. There may be lots of people with metal stored there that aren't going to be aware that there are problems.
     
  36. ~BS

    ~BS Gold Member Gold Chaser

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    WOW just saw this, huge news indeed! I used to do quite a bit of business with them 2 years or so ago. Glad I got out! Hope there aren't too many GIMMERs with money on the line.
     
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  37. 90%RealMoney

    90%RealMoney Midas Member Midas Member

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    Left Flank, Oceana...Locked and Loaded!
    If you don't hold it, you don't own it!
     
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  38. Cigarlover

    Cigarlover Gold Member Gold Chaser

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    I had a feeling there may be problems there back in Feb. I had ordered 10 generic rounds of silver. They sent prospectors. Those and the libertads usually sell at a pretty good premium there. I had also purchased and held on acount some 10 oz bars. I had everything shipped in Feb and when they arrived something seemed off with one of the bars. The ping was different but it did pass the magnet test so I just let it be.
     
  39. Montecristo

    Montecristo Silver Member Silver Miner

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    Thanks to About.Ag for not being afraid to maintain a place that information can be assembled, explained and distributed to those affected by this latest problem to arise with a large precious metals dealer.

    Keep up the good work!
     
  40. About.Ag

    About.Ag Seeker Seeker

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    Thanks for the kind words -- it is appreciated. That's what keeps me going.

    For the record, though, I *am* afraid to do this. With Tulving, I ended up with a company threatening to sue me (going so far as to send a copy of a draft of a lawsuit against me). And I already have someone (who is anonymous) who has made clear some of the legal liability I need to be concerned about with Bullion Direct.

    That said, if I am certain that the value of what I am doing is significantly greater than any possible harm I could be doing, it needs to be done.
     
    southfork and ~BS like this.

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