American Bullion, Inc. — Local services in Los Angeles

Buyers Beware:

I advised a relative to do a rollover in 2016, as gold was relatively low in price and economic conditions seemed to favor another bull run.

Unfortunately, my relative, who wasn't an experienced investor, was advised to buy Gold Eagle Proofs, which were allegedly selling for 60-70% over spot at the time (although I cannot find any evidence online to support this pricing claim).

Fast forward to 2020: gold has gone up 40%. The premium on Proofs has completely disappeared, however. American Bullion offered to buy the proofs back at $10 UNDER spot; this would however represent a 10% overall loss in the face of an established bull market.

To recoupe these losses, the price of gold will need to reach $2000. Instead of enjoying a 70% ROI, my family will break even. I cannot adequately express how disappointed I am by that.

The specialists I've spoken to claim they believed the upside of buying proofs at roughly 60-70% total markup justified the markup (and their premiums). I was upset when I heard they were adding this much additional speculation to the overall risk of investment when my relative received the first statement.

I wouldn't take financial advice from these folks. They'll encourage a riskier position than I believe prudent for smart low-risk investments. Losing a client money during a bull market is about as...

I finally decided to go ahead and move some of my financial assets into "Gods Money", that is Silver and Gold. Why ? Because I think as crazy as the world has gotten so far, and possibly getting worse with all the trade deficits, and federal debt - I strongly believe that it is time to preserve your wealth, or at least a portion of it. While seeking for a company to help me out with that task, I came across American Bullion, and I am glad that I did ! The folks at American Bullion are professionals, extremely customer oriented, very helpful and friendly. Both Nathan and Esther have helped me with the entire process, and made the whole conversion easy. So , do not worry of the process. There are 2 things you need to ensure you will still stay afloat when times get rough. a) the will to make the decision to transfer your FIAT currency and your more than dubious stocks into an asset that has been around since 5,000 years, and will at least preserve your current wealth, and b) dialing American Bullion's phone number. American Bullion WILL take care of you, and take the scare out of the IRA roll-over or transferring paper currency into metal currency out of your hand. If you can watch a movie, you can transfer your assets and preserve your wealth for you AND your family ! I am glad I did, and I can...

Now that I've done another transaction with a different company, I can see my inexperience was taken advantage of by Tim Perkins at American Bullion. At this other company, I just purchased more silver eagles for my IRA at a spread of less than $6. American Bullion charged me an outrageous spread of over $17 for the same coin! I paid very high spreads for other silver and gold coins, as well. Unscrupulous, to say the least! Angry and ashamed I allowed myself to be conned. Do not trust.

*Update in reply to AB: Yes, by 'spread' I meant 'premium over spot.' I tried to post an image of my Order Confirmation here but it errors. The spot prices are right in the Order (11 months ago) - Silver spot was 25.64 . The Unit Price I paid for Silver Eagles was $42.94; a premium of $17.30. I just bought the same coin for $33.05 and the spot was 27.60. A premium of $5.45. And there were no shipping charges to the depository, whereas American Bullion charged me over $500 for "Shipping & Insurance."

If you can reasonably explain why I paid such a high premium and shipping cost (for that and other silver and gold coins), I'll completely...