Today we review Bullion By Post for you. Is it a good company? Is Bullion By Post a Scam or a legit gold dealer? Is it an alternative for you or should you look elsewhere? This is some of the questions this short review will answer!
Company: Bullion By Post
Owner: Jewellery Quarter Bullion Limited (JQB Ltd)
Price: Depends on your investment
Who is it for: Precious metals investors
Overall rating: (3.5 / 5)
==> See our #1 recommended place for “smaller” purchases of quality gold & silver on this page
==> See our #1 recommendation to trade between physical Gold and Bitcoin on this page
Important to mention before we go into more details of this review:
We always strongly recommend to do your research online before you choose a company to invest with. There are so many reviews online of clients being ripped of and scammed. The most common way people are getting scammed are through so-called “hidden-fees” so please investigate thoroughly before you make your decision.
With that being said, let´s continue with the review on Bullion By Post!
Deciding which company you are going to buy the metal from might be a bit “tricky” because there are various service providers available in the industry. We understand selection can get tough and that is why we have a complete review of Bullion By Post to help you decide whether it will be the right choice for you or not.
Bullion By Post was founded back in 2009, it is a pretty well-known company that has been providing services ever since. They deal with precious metals in the form of coins as well as bullion. Their headquarter is in Birmingham, West Midlands. They provide you with different options. You can easily select the metal you are most comfortable with or get the service of your choice.
They have various options for the weight and types of metals available that will make it easier for you to select the one you can manage in savings or budget that you have. It means that even if you do not have a lot of money to invest you can still have an investment opportunity from Bullion By Post. Bullion By Post is giving everyone an equal chance to invest in precious metals.
How does it work?
You might have been wondering how the entire process of Bullion By Post works. There are no confusing steps or other issues that you will have to deal with during the process. They have a simple process through which you have to select the metal, its weight, and types of services you would like to have.
After that, you have to simply pay the price of the metal that you have bought and become the owner of the asset. You can keep the metal with you for as long as you like.
It is your decision to make that when you will be planning to sell the metal which can be within a few years or months.
You can sell the metal back to Bullion By Post or any other retailer that you want who would provide you with the opportunity to get a higher value. There are no limitations or restrictions that you will have to deal with.
Products and services offered
They have different types of products and services available. You can get coins and bars in silver or gold of any weight that you want.
There is no info on their website on IRAs.
**Click here to see our Top #5 List of Recommended IRA Providers (worldwide service)
You will have to pay the original price of the metal that is displayed on the website of Bullion By Post. However, if you are planning to keep your metals in the account at Bullion By Post you will have to pay an additional £10.00 per month.
Can you get the metals delivered home?
Yes, you can have the metals delivered at your home anytime that you want.
Can you store with the company?
Yes, you can.
You are allowed to store the metals with the company regardless of their worth at a reasonable price.
Can you sell back to the company?
Yes, you can easily sell back to the company at the market price of the metal. If you want you can allow the buyers to fix the rate as well.
I found a complaint on this subject that you might want to take a look at (see screenshot below):
Complaint source: Trustpilot website
What countries are allowed?
Bullion By Post is providing the services in different countries of Europa like Austria, Belgium, Sweden, France, etc.
If you are living in a country outside the EU (European Union) then this is an exact excerpt from their website on this subject:
At BullionByPost we deliver the majority of our orders to EU member states, but occasionally we do receive orders from European countries that are not EU members. This works almost exactly the same as our usual shipments. Customers still receive the same fast, insured delivery, but orders from within these countries may be subject to VAT, duties, taxes or other levies, depending on the laws of that country or specific regions.
Please be aware that we have no control or influence over tariffs or import duties. These taxes are set by individual sovereign nations, or regional authorities within them.
We do not charge VAT at the point of sale for orders from non-EU states. Charges are applied, if necessary, on the arrival of your order to your country’s customs department. The recipient of the bullion is responsible for charges applicable to the shipment and they may be contacted by customs requesting payment of these duties or tariffs.
We recommend researching your country’s import rules before ordering from us. Please contact a local customs broker for more information on duty and tax rates if you are unsure whether you have any fees to pay. If a customer refuses to pay a required customs charge then they will be liable for any metal movement and shipping costs back to our parent company JQB in the UK.
Do they have good support?
Something I always put a lot of weight on when it comes to the quality of a company’s support system is if they got a live chat function or not. Does BBP have this? No, they don´t and that is a minus (at least in my book).
They do have e-mail and phone support.
Important to mention:
There are some complaints about their customer service (more about that further down)
Is Bullion By Post a Scam?
So, is Bullion By Post a Scam? No, of course not, it is a legit gold dealer. They got a real physical address and real owners. They have been in business since 2009 and the odds of them surviving this long if they were a scam are not very likely. 2009 might not be a very long time in this industry, however, the company is not like other more traditional ones as their “speciality” is to send it to you by post to your home.
They are also listed as an authorized distributor of the Royal Mint.
However, if they are your best alternative out there is another story, and that leads us to what the most well-known and trusted review and rating sites have to say:
Online reviews, ratings and complaints on Bullion By Post:
Something that is always recommended to do before you make any kind of decisions it to have a look at what some of the most well-known and trusted review and rating sites have to say about the particular company you are interested in. As always in our reviews we provide you with their results (with clickable links) to make this task more convenient for you:
Rating: (4 / 5) (out of 42 reviews) click here for details (opens in new window)
Any red flags?
Well, even if most client testimonials are positive, there was nothing from the BBB, nothing from Trustlink and nothing from Yelp, I find that a bit strange. I did find reviews from other sources but (as always) I only pick the ones from the most well-known and trusted sources.
Some complaints are also pretty serious, below I provide you with some that you might want to see:
Below is another complaint in the form of an exact excerpt from a “not so happy” client and his warning to you:
Watch out for yourselves
Yes, the delivery is quick. But its what goes on behind your back that matters. Did you realise that in effect as far as they are concerned we are all criminals, and as a consequence our credit rating is checked. You might think this is nothing, but when approached about this, they make excuses and point to their requirment to do due dilligence, as if they have no discretion about it. But they do have discretion, as the rule they are pointing to in defense of their action, basically this is something of what I wrote to them;
“Its interesting to note that despite having a list of conditions such as due diligence should be carried out with transactions of 15,000 Euro’s or more, or should be carried out when there are linked payments – that is the transaction paid with small amounts of money from different places. It then goes on to completely blow those rules away with Enhanced Due Diligence. With Enhanced Due Diligence a business can now basically check anything, for example payments below 15,000 Euro’s.”
I did not make small payments, nor did I purchase over 15,000 euros of bullion – far from it. They did not reply. I dont think they bother, with preceding rules, they just go straight to enhanced due diligence; and thats that.
Important to mention! (better alternatives?)
If you are looking for a more discrete and maybe a bit more anonymous and “tax beneficial” alternative then you might want to look at other alternatives, below are 2 obvious ones I trust a lot more when it comes to gold and silver purchases online:
** See our #1 recommended place for “smaller” purchases of QUALITY gold & silver on this page
** See our (FULLY insured) #1 recommendation to trade between physical Gold and Bitcoin on this page
The Pros and Cons of BBP
Another thing that is always wise to do before you decide on if a company is right for you or not is to compare its positive sides against its negative to get a better overall view. As always we provide you with some clear points on both sides of the spectrum.
- You can buy, sell or hold the metals any time that you like.
- You can get your precious metals delivered to you by post
- They do not have any services for digital currency or Bitcoin available
- They got a few serious complaints
- Their support is lacking
- Not the most “privacy friendly” alternative (see further up in review)
- Not an IRA custodian
Do You Own or Represent Bullion By Post?
If you are a representative, or associate of Bullion By Post and have found something not to be correct in this review please, feel free to tell and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or else you got the e-mail on the about page.
Final words and verdict
Overall rating: (3.5 / 5)
Ok, I think that sums up the overall picture of this company pretty good, it is a legit one, absolutely. If it is your best alternative you have to decide yourself.
Bullion By Post is an authentic and reliable platform where you can easily get the metals and services that you need. You can sell your metals back also. The entire process of buying and selling is easy and user-friendly.
You made a wise decision to read this review, and you are a smart person, am absolutely sure that you will find the right company that suits your particular needs!
What company do I recommend?
There are many ways to buy yourself gold online, we have reviewed over 90 companies on this website and if you are interested in reading about a particular one please perform a search on our “search bar” here and you will (most likely) find, that the company you are looking for is listed here.
However, the absolute #1 recommendation we have is the one you can see for yourself by following the link below:
Our #1 recommended place for “smaller” purchases of QUALITY gold & silver on this page
Our #1 recommendation to trade between physical Gold and Bitcoin on this page
I hope you found this review on Bullion By Post to be helpful and now you should have a better understanding on what it is and if it is a scam or not. Please, if you have used any of their services then share your experience in the comment section below as it can help others. Also, if you got any questions about this review I will be more than happy to answer them below!
I wish you the best!
founder of: Gold Retired