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Enterprise Bullion is an online precious metals dealer that aims to make it easy to purchase gold and silver. Their website claims that they are serious about protecting data and consumer investments. But it's hard to find information about who runs the operation.
Is Enterprise Bullion actually a legitimate business? And if so, are they the best option to invest with? Here are some of the things that you need to know.
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About Enterprise Bullion
With most companies, you'll find a page on their website that explains the history of the operation. They'll explain who started it, why they care about the industry, and how they're committed to their client base.
Enterprise Bullion's page doesn't have this information. The company doesn't explain who the founder is or how long they've been in business. But they do list some of the values that they operate by.
It's hard to say whether the company actually abides by the values in question. But here are some of them.
Precious metals of many different kinds are available through the company's inventory. They sell proof gold American Eagles that have been certified by the NGC and PCGS, other certified gold and silver coins, and historic rarities.
They say that they are able to use specialized technology to manage their pricing at all times, including when the market is closed. But they don't really expand upon how it works. They don't explain what the prices do during market closures, or how much their algorithm inflates the spot prices.
When you're investing with any precious metals company, it's a good idea to research the spot price of the metals beforehand. That way, you'll know whether you're being ripped off.
Service is the company's biggest priority, according to the website. They want their customers to be so satisfied that they keep coming back. But it's oddly difficult to find reviews online from past customers, so it's hard to tell how loyal their client base is.
The customer service team is available to answer questions over the phone during business hours EST. Unlike some other companies, they don't have any live chat options available through their website.
The company claims that all of the employees are experts in the industry, so they can answer your precious metals questions. They also add that none of the representatives work on commission. That means that you don't have to worry about high pressure sales tactics or false information.
But again, it's difficult to evaluate how much expertise the staff has. The company doesn't offer any information about who works there, who manages the operations, or even who founded the endeavor. And as mentioned, there are very few third party customer reviews available online.
High Quality Products
The company guarantees that any products you order will arrive in pristine condition. Every piece of the inventory is authenticated and verified prior to being shipped. They say that they examine every new piece of inventory to make sure that it's of the correct quality.
The privacy and security of the clients is one of the company's big priorities. They say that they don't share your personal information with any third parties, including affiliates and partners. All of the internet servers are encrypted with the latest algorithms to make sure that your data remains private and secure.
Available Products and Services
When you visit the website, you have the opportunity to shop by different categories. In addition to the usual gold and silver, the company has some platinum and palladium products. There is even an option for hybrid bullion, something that many other dealers don't sell.
However, when you actually click on the hybrid category, the website directs you to an error page. It's unclear whether they don't have any of this inventory or whether there's simply a coding error at play.
One potentially irritating aspect of the setup is that once you click on your category of choice, you then have to choose from increasingly smaller sub-categories. That's fine if you know exactly what you want, but if you want to look at all of the gold products side by side, the segmentation is annoying.
The company does mention IRAs on their website. They also specify which of their products is eligible for placement into an IRA. But they don't seem to have very robust services other than that. You're sort of left to figure everything out on your own.
There are other companies that streamline the entire IRA process for you. They help you with the paperwork, contact your custodian, and answer your questions about what metals are eligible.
Enterprise Bullion doesn't appear to have any streamlined setup services. So their products might be best for people who already have an existing precious metals IRA. Even in this case, though, it's generally better to work with a well-established dealer with a good reputation.
Is Enterprise Bullion a Scam?
There is nothing to indicate definitively that Enterprise Bullion is a scam. The company does appear to be legitimate, and it is a member of several important numismatic and precious metals organizations. The products and services offered are legitimate.
To be a scam, a company has to falsely sell you products or services that it does not intend to provide. Enterprise Bullion doesn't seem to be doing that.
But there are some red flags that might make you want to steer clear of this company.
The lack of transparency is a big one. The company doesn't publish information about its owner, investors, or even its management. It's difficult to contact people for support if you don't know who is behind the entire endeavor.
Another issue is the lack of reviews. If the company had a lot of glowing customer reviews, then the transparency issue wouldn't be as bad. But since it's hard to find unbiased third party reviews online, we can't tell whether people have had good or bad experiences with this service.
There are many other companies that have much more comprehensive consumer reviews and information about their management. When you invest with one of those, you know that there's some accountability behind the scenes.
Pros & Cons of Enterprise Bullion
Enterprise Bullion seems like a perfectly fine business. It has legitimate services and products available to people, and it seems like it will follow through on its promises.
But we just don't know enough about the company to recommend it. Usually when you make an investment, you want to know exactly who you're doing business with. That way, you can ensure that you're working with the best people for your needs. And you'll have someone to contact if there's any problem with your order.
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 Enterprise Bullion below!