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Bullion by Post is a UK-based company that buys and sells precious metals. Their main goal is to mail people bullion by having them order online. They're an authorized dealer for the Royal Mint, but what does that mean? How do you know this company is legitimate? And should you use it?
We've put together everything you need to know: what the company offers, what their policies are, and what past customers have to say.
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About Bullion by Post
Bullion by Post, commonly abbreviated BBP, has been operating out of the UK since 2009. They purchase and sell coins and bars of precious metals. If you want to liquidate your precious metals, you can sell them to the company. There are also certain investment services available.
If you want to get started with any of the services, you'll need to create an account. You can do this online in under five minutes. After signing in to this account, you'll be allowed to select whichever metals you want to have shipped to you.
The pricing is listed on the website. While many people say that the prices are fair, there have been a few complaints that the company charges higher than their competitors. So you should always do market research before you lock in your purchase.
Thanks to the company's buyback program, you can sell the metals back whenever you're ready to liquidate. You don't have to, though. Since you're the full and legal owner, you can hold onto the metals or sell them to whoever you want.
Available Products and Services
For the most part, Bullion by Post focuses on providing people with precious metals or purchasing precious metals. Gold, silver, and platinum coins and bars are available in a variety of weights. As an authorized Royal Mint dealer, they can sell legitimate coins that come from the UK Royal Mint.
Some precious metals dealers offer gold IRA services. But Bullion by Post isn't one of them. Since the company is based in the UK, it wouldn't make sense for them to focus on offering niche retirement accounts to an exclusively American clientele.
When you go to the company's website, you can browse different products by category.
Both gold bars and coins are available, though they are separated into two different categories. You can look at the pricing for the metals even before you make an account, which makes it easy to research the offers.
The website also tells you whether the items are in stock or sold out.
Some of the gold bars currently available include:
These are just some of the available weights. There are a variety of bars that are weighed in ounces or in grams, so you can choose whichever metric you most prefer.
When it comes to gold coins, all of the items come from sovereign mints around the world. Some of the options in stock as of writing include:
They also have more unusual or less "investment-heavy" coins. For example, you can get small Britannias, which have a much lighter weight than the usual option. You can also get limited edition collectors coins like the Gold Lunar Series from the Royal Mint or the Gold Lunar Series from the Australian Perth Mint.
It's also possible to purchase a package of "best value" gold coins. This will give you access to the largest amount of pure gold for the lowest price point, based on the selling points of different coins on any given day.
Like the gold products, there are separately categorized silver bars and coins. Every one of the bars is brand new. The company receives them directly from refiners like PAMP, Metalor, and Umicore.
Some of the different weights for the bars include:
They have a ton of different weights in both ounces and grams from their partnered refineries.
All of the silver coins come from reputable international mints. Like with the gold coins, you can purchase a "best value" package to get the lowest price on silver in general.
Some of the other silver coins include:
The company actually has access to a wider range of international currency than a lot of the competition. For example, it's rare for dealers to have access to Chinese and Armenian coins. You can also browse coins by 2021 and 2022 if you want to get ones that were just minted.
Many dealers only offer gold and silver, but Bullion by Post offers some platinum and palladium. Again, platinum bars and coins are listed separately on the website.
Each platinum bar is new and comes directly from an LBMA certified refiner. As of writing, the only bars in stock are 1 ounce options. But the company is also waiting to refill its stock of:
Unlike the silver and gold options, there are not multiple different ounce bars available. You can only purchase platinum in 1/2 ounces if you don't want to weigh it in grams.
All of the platinum coins are also currently out of stock as of writing. There are fewer options than with the bars. The only two single coins are the Britannia and the Queens Beast. The company has listings for general coins and coin sets, but there's not much information about exactly what coins are included in them.
Rather than having both bars and coins, the company only lists palladium bars on its website.
The only palladium bar currently in stock is a 1 ounce bar. Some of the bars that need to be restocked include:
The quantities don't go higher than that.
Gold Proof Sets
The company sells sets of gold proof coins, which are labeled separately from the gold coins category. Sets are available with gold coins from mints all over the world. They range from one to five coins.
Multiple different sets are available. The one you want will depend on the coins that you're most interested in. It's worth browsing the website to see whether you're interested.
The company does not appear to sell sets of proof silver coins.
The 7 Step Process
When you want to buy gold and silver, the company lets you do so through their proprietary 7 step process. You can also call the support staff during business hours or email them with any questions.
The first step is to register. All you have to do is give them your name and residential shipping address.
The next step is to add your items to the online shopping cart. This can be done by pressing the 'Buy' button located underneath each of the products.
The next two steps are to select your delivery and payment options. Free fully insured delivery is available for every order. That means you'll need to sign for the package to receive it. There are also four different payment options, which include:
Once you're satisfied with your order and ready to make the purchase, you'll click the button to lock in your price. This keeps the price from changing even if the metals market shifts. From there, you have a five minute window to click the 'Place Order' button as a final confirmation.
After you've done all of this, you'll officially make your payment. This will involve giving the company your banking or card details. Then you'll receive a confirmation email. When funds are received by the early afternoon, the order should be shipped out the same day.
From there, the final step is just to receive the package. Since it ships with insurance, you'll need to be available to sign for it.
Is Bullion by Post a Scam?
Bullion by Post is not a scam. It is a UK-based company that has legitimate owners along with a physical headquarters. The company is transparent about where you can find them and who operates the business. In addition, it has more than a decade of experience operating in the industry.
Adding to the credibility is the fact that the company has been authorized as a distributor for the Royal Mint. That means that they are able to sell coins that come directly from the government mint in the UK. When you look up the company online, you can find a lot of positive customer reviews.
Many customers say that they had excellent experiences when purchasing from the company. They received their items quickly, had good interactions with the customer service agents, and were given competitive pricing.
But there also have been patterns of complaints as well. Also, the company doesn't offer services like gold IRAs, since they're based in the UK and largely working with a European clientele. Not all authorized coin dealers are the same, and it's possible that this company will leave something to be desired.
Keep in mind that, as mentioned, many customers do have excellent feedback instead. So there's no guarantee that you'd have a negative experience.
What the Complaints Say
Since the company is not based in the US, they don't have a page with the Better Business Bureau. But customers are able to leave reviews on websites like Trustpilot and Trustlink. The most common complaints are related to the delivery itself. Some people have also said that they were quoted higher prices than the competition charged.
It's important to always research the prices of precious metals before you make a purchase. Find out how much the metals are actually worth and how much other companies are charging. It also helps to look up the company's policy on commissions, markups, and potential hidden fees. Doing so helps you ensure that you're getting the best deal.
A few people have complained about the customer service. The most common complaint is that the company doesn't offer live chat on their website, which many other competitors do. But when customers are able to get in contact with representatives, they usually seem to have positive things to say.
The final complaints tend to be related to website navigation. It's possible that the company doesn't have the most responsive or intuitive website in the business. People said that they had trouble filling out the forms with their shipping address.
Some of the specific delivery complaints included:
But for the most part, the feedback has been positive. For every complaint about the company, there are about ten positive reviews. These complaints are just concerning because you don't want to risk your package being unsecured during the delivery process.
Pros & Cons of Bullion By Post
Bullion by Post is one of the most popular companies for people who want to have precious metals shipped to their door. Over the past few years, online shopping has exploded in popularity. This company is a legitimate business that's been around for more than a decade and is authorized as a Royal Mint seller.
Most people who review the company say that they have good experiences. But some people have claimed that they were given high price quotes, had problems with the delivery, or had issues with the customer service team. In addition, the website layout can be difficult to navigate on mobile or a tablet.
If you're looking for a bullion dealer in the UK, Bullion by Post does have a good reputation overall. But you should always research the market price of precious metals and examine the competition to make sure that you're getting a good deal.
If you're an American who's interested in opening a precious metals IRA, this is not the company for you. While they sell government currency, they do not specialize in US retirement law or IRS tax regulations. You can also probably purchase bullion in the US for a much lower overall shipping cost.
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 Bullion By Post below!