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Boston Bullion is a precious metals dealer with a solid reputation. The company operates out of a small office in Cambridge, Massachusetts, where it serves clients in the Boston area. Most of the company seems to be run by the owner, whose policies have been praised for their transparency.
It can be difficult to decide on a precious metals dealer, though. You need to be sure that you're getting the services you want for competitive prices. So is Boston Bullion worth your consideration?
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About the Company
Boston Bullion is an owner-run precious metals dealership based in Massachusetts. The owner has a storefront that he uses to work with local clientele, while the company website lists all the items available. You can call to place an online order, but there isn't an online shopping cart for a contact-free purchase.
The company appears to be run almost entirely by the owner. It's not clear whether he has other employees. If he does, they don't have a significant impact on the company's policies or service. Customer reviews across multiple different sites have specifically praised the owner's attitude and honesty.
Though you have to make a phone call to place an online order, the website is set up with automatic price adjustments. That means that you'll see exactly how much an item costs based on its fluctuating market rate. Many other dealerships don't have this level of transparency, so you can't get a price quote until you make a call.
Thanks to the transparent pricing, it's easy to compare the cost to other competitors. You can also check the melt value. This helps you determine whether the investment is worth it, without any high pressure sales tactics to worry about.
There is one aspect of the online website that can become frustrating. You actually can put products into your "cart." But there isn't any option to check out, because the site isn't integrated with any third party eCommerce platforms.
That means that you still need to make a phone call and lock in your prices. Your "cart" makes it easier to tell the person exactly what you want, but it's more like a list than an actual shopping basket. This can be frustrating for customers, especially those who don't want to have to call during business hours.
The price locking kicks in as soon as you place the online order. Unlike some other dealerships, you don't need to worry that you'll pay more for the metals than you were quoted. You know exactly what the charge will be ahead of time.
There are no credit cards accepted as payment. You will either need to mail a personal check or do a bank wire transfer. This can be inconvenient when you're doing an online purchase, which might be part of why so much business is conducted in person instead.
Free shipping is available when you purchase over five ounces of gold. With any other order, though, you'll be paying $19.95 for shipping. This flat rate applies no matter how big or how small your order is, which means you could end up paying significantly more for shipping than you need to.
There are some precious metals dealers that have free shipping for all orders. Others have free shipping for qualifying silver purchases as well. Five ounces of gold is a lot to buy for the free shipping benefit.
Every order is shipped through Priority Mail. Depending on your location in the country, your metals could arrive within just a few days. The packages are fully insured for the value of the metals, so you'll need to sign for them when they arrive.
Some precious metals dealers also sell alternative assets or collectible coins. But Boston Bullion works exclusively with platinum, palladium, silver, and gold bullion. Items are made available only when they're in the store inventory.
Unlike many other dealers on the market, Boston Bullion does not allow returns. With that said, there's a note that you can call within three days of receiving your order if you have any problems. The company will work to fix the issue, even if that means taking back the shipped items and replacing them.
You benefit from straightforward pricing when you use this dealership. What you see is exactly what you get. There aren't hidden commission fees or added value after the fact. You know exactly what you're paying for shipping and for the metals combined.
When you make a purchase from a state other than Massachusetts, you don't have to stress about taxes. Massachusetts does apply sales tax to bullion sales. However, Boston Bullion will waive this tax on orders that total at least $1,000. You are not required to report your wire transfer or check to the government when you acquire the metals.
There are multiple safeguards in place to make sure that the pricing is competitive. The website uses an algorithm to adjust the prices of each item individually, rather than pricing everything based on the market value of gold and silver. This allows you to compare the different items and decide which has the best value for your dollar.
Boston Bullion acquires precious metals in bulk from distributors. They are able to get discounts due to the volume, so they can sell the items at low prices and still turn a profit.
When you make small purchases, the storefront inventory will be used to cover them. But if you make a big volume purchase, Boston Bullion might have the items shipped directly from their distributor to you.
Many precious metals dealerships offer a buyback program to make it easier to liquidate your assets. Boston Bullion doesn't technically have a buyback program, but what it does have is better. The company is willing to buy any of the items listed on its site, whether or not they were bought there.
If you have precious metals that you want to get rid of, you can call to get a price quote. The transparent pricing structure tends to be 3% below the sale price. You're welcome to shop around to other dealers and see whether a better offer is available.
Is Boston Bullion a Scam?
Boston Bullion is not a scam. The company works most often with local clientele, but it can also serve people throughout the US with its online store. There is an A+ rating with the Better Business Bureau, and customers have largely positive things to say.
You are likely to get the best results if you can actually go to the office in Cambridge. You'll be able to talk to the owner in person and discuss your needs. The company is slightly less equipped for handling online orders.
With that said, there have never been any complaints about the shipping or handling of precious metals. There are just other companies that might be better geared toward online customer service, since they do most of their business online.
The company is a small business that is mainly run by the owner. Customers praise him for being consistently dependable and honest in his work. If you have questions about pricing or inventory, he'll answer them without any hemming or hawing.
Whether customers were buying or selling, they only had good things to say. They state that the prices are fair and that the business is conducted speedily. Some people have walked into the business with precious metals to liquidate and left less than an hour later with cash in hand. It's a very laid-back place to do business.
Pros & Cons of Boston Bullion
Boston Bullion is a highly rated company that serves the Boston and Cambridge area. It has expanded into online orders, though most business still goes through the storefront. You can place an order from anywhere in the US, although you will need to call to do so.
The website displays prices that automatically adjust as the market value of the metals shifts. Customers have said that the company owner is dependable, always giving honest answers to questions and being forthright about price quotes.
There are some competitors that have a better online presence, including precious metals IRA services. If that's what you're looking for instead, you might not benefit from the positive aspects of this particular business.
Overall, we believe that there is a better option when it comes to your investment.
The above company is our top recommendation after doing extensive research. Feel free to keep doing your own research, or you can visit Boston Bullion below!