Bullion Exchanges — Local services in New York

When it comes to using a exchange for receiving physical precious metals, you should be very picky, but lucky for you. I’m giving you the real review. This is IWS giving you the real world review from my real experience.

Today is January 13, 2023 at 3 PM eastern standard time and this is AWS’s review.

Bullion exchange is a precious metal bullion dealer located in Diamond District. Diamond District is located on W. 47th St. in between fifth and sixth Avenue in Rockefeller Center. The primary hours of operation in business for the Diamond District is Monday to Thursday 10 AM to 5:30 PM and Fridays 10 AM to 3 PM. Most of the stores if not, all of them are closed on the weekends.

Bullion exchanges caters to both the individual retail customer purchasing precious metals or selling precious metals less than $10,000 (or even more for some customers in the retail space) as well as business to business wholesale customers that are in the business of jewelry and bullion precious metals dealings in any amount, literally.

Their business is a smooth running operation that runs their business based on a value system, that anyone really can understand. The first thing is that in their business, there are rules and rules must be followed. “ I’m the king of rules, you know that.” Said one of the chief management staff named Ben, and that is certainly true. In a world of uncertainty, it is nice to know that there are some certain things in this world that you can count on one of which being bullion exchanges and hearing, and following and sticking to the rules, they implement and put in place for both the benefit, safety and best business practice for both the business and the consumer.

Originally, I was a retail customer that purchased bullion from bullion exchanges from 2011 to 2016 , then in 2017, I formed my own business and started doing business with bullion exchange is on the B2B level. Not a difference at all, but definitely the best bullion exchange provider in USA and he’s not knowing enough for making transactions very easy for Dealer customers (B2B) compare how bullion exchange is runs or operations, and how they make it simple and easy to do business compared to other bullion precious metals dealers in the United States.

This was my third time using cryptocurrency to pay for a large transaction with bullion exchanges.

They use BitPay to facilitate the payment processing on their end, and they only accept bitcoin as a cryptocurrency payment method .

With this in mind, it could take some time with transactions, confirming on the Blockchain before inventories going to be released you .

As long as you know, the policies of how goods will be released to you and what the cut off times are and what the rules are, you’ll be fine, so I’ll tell you what they are .

4 PM New York time is the cut off time to pick up or receive any orders in the store. If the payment isn’t confirmed by then, then you’re not receiving your inventory today.

For bitcoin transactions sent to them there must be a minimum of six confirmations on the Blockchain before inventory is to be released to you.

Be prepared with photo ID as well as any other AML/KYC questions they may have, especially if the transaction shows that it is coming from somewhere other than New York, for example, if you have a VPN running, and the VPN is set up to be in Ukraine, then their internal fraud control system will red flagged this transaction and require additional compliance for the backend administration department to confidently release merchandise and fulfill the order. This is normal. This is the procedure. And if you aren’t being asked these questions from your other bullion provider then you certainly should be careful as to ask all the laws and rules and regulations regarding anti money laundering, no your client, money, services businesses, and financial rules and regulations.

I put my order in at 1 PM and pick up my order at 3 PM . I’m very impressed and I’m very happy I won’t be going anywhere else. Ben & the girl Avena are very...

I first have to state Jessica in customer service was the only bright spot at this place giving exemplary customer service. Fatima was also friendly at purchase of sale, which was quite substantial.

The issues started when Ben promised I would get the delivery latest the following Monday or Tuesday. When I heard nothing by 3pm Tuesday, I had to call their office to follow up. Jessica finally gave me a tracking number it would be delivered Wednesday.

UPS didn't deliver, which wasn't Bullion's fault. I received a call Thursday stating they'd call back later in the day with a new tracking number. I heard nothing again, so had to call Friday 1pm.

The owner, Eric, happened to pick up, but he was so agitated by the entire explanation he called me difficult when I was trying to arrange a new delivery date. He was so flustered by my asking him have his staff communicate from point of sale to the delivery that he became so angered he said he'd rather return my wire instead of redelivering, which wasn't my intention.

This tells me he's great at receiving payment, but doesn't care once payment has been made and please keep in mind, I had said my delivery wasn't urgent. I thought there could've been better communication with his staff, so I didn't need to be held captive at my home waiting on delivery via promises from his staff and the continual chasing for updates.

In addition, both Ben and Eric tried to bully me into coming in person to carry home over 30lbs of metals. They, clearly, didn't want to ship to my home. I found this truly infuriating and unprofessional by demanding to know why I couldn't carry the metals home myself.

I would rather pay more for respectful business practices than doing business with someone, who doesn't seem to need my business or my recommendations. Eric's anger was unnecessary and will drive business away.

I made certain Jessica knew her boss should never pick up the customer service line again. She apologized profusely for all the issues and I appreciated her professionalism. It's unfortunate as I'd planned on buying more metals, but definitely not after...

Honestly Bullion Exchange was great! I compared them to multiple different popular websites (like JM Bullion) and BE was the closest to spot/had the lowest premium! If you're looking to save a bit go through BE!

So why only 4 stars?

The shipping... I understand (in the small print) that BE isn't responsible for anything the shipping carrier does/ once it's in their hands its out of BE's hands. BUT BE can most certainly choose whomever they want to use for shipping. USPS is the absolute worst. The updates were better than I'm used to but the security aspect is somewhat troubling. I got an update about an hour or so after my rounds were delivered. My pure silver was just hanging out in my mailbox, I didn't sign for it or anything like JM Bullion does with their insured shipping through UPS. JM Bullion basically doesn't let anyone sign for anything but YOU to make certain YOU get your metals that you paid good money for.

Honestly, if BE would of just put an update on the checkout stating something like "We HIGHLY recommend upgrading to (another carrier) for shipping due to USPS delays and shipping issues" (put it in Red) I probably would have paid a little extra to use standard shipping or 3 days shipping through a different carrier such as UPS.

If you made it to the end then I'm proud of yall for listening to my opinion. I might be wrong on some statements or maybe not fully understand the shipping situation (and thats ok) the point is I just couldn't believe how much the whole USPS experience was.

I WILL continue to do business with Bullion Exchange (as long as they are the lowest cost) but I highly recommend choosing a better shipping carrier as a customer. As for BE I hope they either add a similar warning statement about USPS or maybe give some sort of incentive for upgrading to a better shipping carrier. Maybe if you spend more than 200 dollars they would discount on upgraded shipping carrier? I'm not sure but there's got to be a better solution lol.

Thanks again BE for my rounds and will be doing business with yall next week :) just upgrading my...