If you are interested in investing in gold and silver as part of your retirement or pension plan, you might have heard of a company named Bullion Max. But as with any company that works with large amounts of money and a lot of precious metals, you need to know if you can trust Bullion Max fully before you start investing with them.
We have taken a close look at Bullion Max and investigated customer reviews across the internet very carefully to see what we can find out about this company. If you are just interested in knowing what Bullion Max can offer you, check out the full review of Bullion Max.
Alternatively, read on below for an introduction to investing in gold and silver bullion and an investigation into the reviews of Bullion Max you might see all over the internet.
What Is Gold and Silver Bullion?
Bullion is a term used to refer to gold and silver of a very high purity level – at least 99.5% pure. This is always in the form of bars or ingots, and central banks and governments usually keep it as a reserve to back up their finances. Approximately 20% of all gold mined worldwide is kept as reserves by central banks.
Bullion can be considered legal tender in some cases, but its main role is as a reserve: the value of gold and silver remains much more constant than the value of currency, so banks, governments, and large-scale investors like to keep some as a backup.
If you are interested in bullion, you can buy or sell it through dealers active on the major markets or, more easily, through futures contracts and exchange-traded funds.
Can You Put Gold Bullion in Your Retirement Portfolio?
This is a more complicated topic than you might expect because there are so many different types of retirement funds available. Only some of these can be used for gold and silver bullion investment.
Most workers base their retirement portfolios on a 401(k), and gold cannot be put in a 401(k). However, there are also several types of IRA available that might be a better fit.
IRAs are personal retirement accounts, so you have to set one of these up and pay into it yourself: your employer will not make contributions to an IRA.
This type of account is very flexible, allowing a large number of possible deposit types, including gold and silver bullion and other precious metals. There are also several tax advantages to IRAs that are worth considering.
Why Invest in Gold?
The reasons for investing in gold as part of your retirement portfolio are simple: gold is stable and reliable and does not have the volatility of regular currencies. Recently, you might have heard recommendations to invest in cryptocurrency, but these are a scam.
Cryptocurrency is incredibly volatile and is therefore a terrible choice for a retirement portfolio. Gold is stable and reliable and is the best choice for investment in the longer term, as it will not lose value over time. It is safe and reliable and does not have the risks associated with other types of investment.
How to Invest Gold in an IRA
The process of investing gold into your IRA is easier than you might expect. First, you will need to have an account set up with a self-directed IRA for gold bullion.
This means you will need a custodian who is legally required to make sure that the IRA meets all regulatory requirements and that they hold all of the assets and administer them properly. The custodian also follows your directions to actually implement your chosen investment activities.
Once you have got that set up, you will need gold. In order to place gold bullion in a self-directed IRA, it has to be high-quality bullion. That means it needs to be classed as legal tender, and it needs to be at least 99.5% pure gold.
In practice, that means you are limited to gold rounds and bars with a mint from a government body, COMEX, NYMEX, or American Eagle coins. Then, you can simply direct your custodian to add your gold to the IRA!
What is Bullion Max?
Bullion Max is a gold and silver holding company. This means that they have a large amount of precious metal to hand, and you can purchase gold coins, gold bars, bullion, and various other investment-friendly precious metals through their website, and they will store your investment in a safe, secure environment.
This makes Bullion Max an easy investment path, giving you access to a range of precious metal investment opportunities and taking care of the storage at the same time. Working out where to safely store your new gold can be the hardest part of investing, and Bullion Max takes care of that for you.
Bullion Max Reviews
So, Bullion Max looks good on paper, but what do customer reviews look like? Well, the good news is that they are almost all positive. Bullion Max currently holds a 4.5-star rating on Trustpilot, with almost all reviews at a 5-star level.
Negative reviews criticize the length of time transfers can take, and the unreliable customer service, and Bullion Max have yet to respond to any of these criticisms.
Positive reviews cite reliable service and a very smooth purchasing experience as reasons to like Bullion Max, and the vast majority of customers seem very satisfied with their experience. Other review aggregator sites also rate Bullion Max between four and five stars, with customers loving the low prices and easy purchasing experience.
The biggest issues with Bullion Max appear to be related to difficulties getting in touch with the company. They are not particularly responsive to emails, and finding their contact info can be difficult on the website. The vast majority of customers seem happy, however.
Are Bullion Max Reviews Legit?
Fake reviews are a major problem in the investment sector. However, the reviews we have checked here are all verified customer reviews from legitimate aggregation sites. We can confidently state that the 4.5-star average review of Bullion Max is a legit and trustworthy rating built on a large number of verified customer experiences.