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Bullion Star is one of the top precious metals dealers in Singapore. International investors also use the company's services, since Singapore is a tax shelter where you can keep your assets undeclared. There are more than one thousand separate products offered by the company, and they have almost universally excellent reviews.
But how do they compare to the competition? Are they actually the best investment choice? And are there any red flags lurking below the surface? We've investigated and broken down everything you ought to know prior to getting started.
Important: Before we move on with this review...
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About Bullion Star
Bullion Star is located in Singapore as one of the premier precious metals dealers in the region. Singapore is one of the most ideal countries for international investors to store and purchase bullion, because they are not subject to taxes. The company has taken advantage of Singapore's tax haven status to draw in clients from multiple continents.
There are a variety of factors that make Bullion Star stand out from the crowd.
One is that there are over 1,000 products offered through ten different categories. That's a huge market, significantly bigger than that of most bullion dealers. If there's something special that you're looking for, or if you want to diversify your portfolio with unusual acquisitions, you don't have to look any further.
Another feature is that the company offers some of the lowest prices in the industry. Not only do they have low prices on typical bullion offerings, but they have their own branded gold and silver bars. These are the only precious metals bars in the world that have no discrepancy between their buy and sell prices.
The company's platform allows you to purchase bullion in a variety of countries. You can use multiple international storage options to spread your assets around the globe. But everything is controlled through one single account, making it super easy to manage your assets.
In addition to housing bullion, you can also stash cash and liquid assets in your Bullion Star vault. It is a total solution for people who want to keep their assets off the books in their home country.
The biggest goal of the company is to allow people to buy and sell precious metals with ease. You don't have to worry about going to the trading floor in person or finding someone to liquidate your assets. All you have to do is open your account, place your orders, and then control your assets through one simple dashboard. Whenever you want to liquidate, you can do so. Anytime, anywhere.
The company's finances also indicate that they are growing and profitable. You don't have to worry about them declaring bankruptcy anytime soon. Even if they did, you would still be the sole owner of the precious metals held in their vaults.
In the fiscal year of 2018, the company processed more than 15,000 orders from people in more than 90 different countries. Their business has only grown since then. Clients are coming back and recommending the company to their friends and family.
The Bullion Star retail store isn't just a place to buy bullion: it's a tourist attraction! In fact, it's so popular that there are over 300 five star reviews written on Trip Advisor. You can walk into the store and view almost 30 different displays that showcase different kinds of bullion.
There's no need to make an appointment for visiting the retail location. If you want to view your assets or make purchases, you can do so. The storage vault is integrated into the same retail location, which means that you can handle every aspect of your account in person.
Bullion Star provides storage vault options for people who purchase precious metals. You can even hold liquid assets like cash in the same account. Every account is totally segregated, which means that no one can access your metals except you. You retain documented ownership of your account's contents, so you can't lose them even if the company declares bankruptcy.
The level of control that the company gives you is ideal. You are able to view your assets, purchase more bullion, and liquidate your holdings at any time and in any place. It's even possible to look at pictures of your holdings, which are uploaded by your custodian to the account dashboard.
Every one of the storage vaults goes through five levels of auditing to make absolutely sure that there are no discrepancies. Customer audits are done to be sure that the physical holdings in your account reflect what's written on your reports. Third party audits are done by independent third parties of all of the vault materials, which ensures that everything is of the proper purity and quality.
As with most precious metals depository options, your holdings are fully insured. If anything was to happen to them, you'd be reimbursed for the entire value.
The company has a very comprehensive program for purchasing gold and silver. Not only will they purchase your bullion, but they will also take precious jewelry. The process for each of these things differs slightly, though.
When you want to sell items to Bullion Star, you can either do so in person or through the mail. The package must be sent out within a business day of the transaction being agreed upon. It's also possible to sell bullion that you have already held in the storage vault, or to sell to the New Zealand division of the company.
If you want to work with the New Zealand company division, you'll have to get in contact with them. Selling your vault storage can be done very easily from your account dashboard.
Steps to Sell Bullion
If you want to sell bullion that you currently own, you can do so through the website. There is a page in which you can click on the products and select the quantity to sell. You will then be prompted to give the company payment instructions and your consumer information.
Once all of this is finished, you'll click the option to place the order. This button will look very similar to the one for purchasing precious metals.
After the order is placed, you will either need to bring the metals to the shop in person or ship them within a business day. You can bring them in without an appointment.
Once the metals are received, they will go through an authenticity check. The company will then send you a payment using whatever method you instructed them to.
If you have bullion that is not listed on the company website, you can call the customer service team to ask about a price quote. Otherwise, price quotes are available right on the list when you fill it out. You'll be given a total quote before placing the order.
Payment can be made to bank accounts in multiple different countries in US dollars. Or you can opt to have your payment sent in Bitcoin, Ethereum, Litecoin, or Bitcoin Cash.
Steps to Sell Jewelry
The company is interested in purchasing platinum, gold, and silver jewelry of all kinds. In addition to buying these items, they will buy scrap metal. You are entitled to a free evaluation of the value of your jewelry. If you're unhappy with the price quote, there's no obligation to sell.
The company does guarantee that they will offer the best prices on your jewelry in Singapore. You can also have your payment sent by cash, bank wire transfer, check, or cryptocurrency.
There is a calculator on the website that will help you determine the price of your gold jewelry. You'll first choose the karat level, and then you'll choose the weight. This gives you an immediate estimate of how much you can expect for the jewelry.
The best way to sell your jewelry is by going into the actual store. You'll be able to talk to an appraiser and get a price quote. If you're living overseas, the only way to get a true price quote will be to ship the items to the company to be evaluated.
The company does purchase any kind of gold or silver, even if it's broken and tarnished. You can toss in your scrap metal as well. If there are any tarnished gold coins that don't count as true bullion, you can toss them in as well.
Platinum and silver jewelry can be purchased as well, no matter what karat or purity level. However, the company does not have price calculators available on the website for your silver or platinum jewelry.
It can be difficult to liquidate your jewelry and be confident that you're getting a fair price. But several customers have indicated that they were given a better price quote from Bullion Star than from many of the competitors. The company doesn't care about the quality of the metal as long as it's a precious metal.
Is Bullion Star a Scam?
Bullion Star is definitely not a scam. This company has glowing reviews from hundreds of customers on websites like Trustpilot and Trip Advisor. In fact, their Trip Advisor rating is 5 out of 5 stars with more than 360 reviews. Customers have consistently praised the company's customer service, products, and general investment options.
Investors also benefit from the fact that the company is situated in Singapore. Singapore enjoys a high level of political stability, and it also has very few tax obligations. People often use accounts in Singapore to store their assets so that they don't need to pay taxes in their home country.
There's nothing stopping you from working with this company. They seem to have an excellent track record with their consumers. As long as you want the services they provide, you're set to go!
Just keep in mind that since they aren't a US-based company, they don't have reviews on websites like the Better Business Bureau. They also won't offer IRA services, since IRAs are very specific to US tax law.
Pros & Cons of Bullion Star
Bullion Star is one of the most popular precious metals dealers in Singapore, and for good reason. They have received consistently excellent reviews from customers on Trip Advisor and Trustpilot. People say that the company has good service, low prices, and competitive policies.
All in all, we do recommend this company for international precious metals investors who want tax advantaged storage options. But if you're in the US, there are likely companies closer to home that have the same services available. These might also have IRA setup services and different regional depository options.
It really just depends on what you need from your investment company. Bullion Star's services won't be perfect for everyone. But what they do, they do extremely well.
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 Star below!