Bullion Direct - (Closed)

Anybody heard about a class action law suit or other alternatives? I'm in the same boat as a lot of you, they closed down with my bullion in their possession.

I had purchased and stored my gold since 2007 and never received it back when I requested in July. I contacted a lawyer of BD and his message was: There are no longer any “inside people” working for the company. We may have to hire some of the former non-management employees with knowledge of the data-base to speed up our ability to get data and analyze the claims. Claims are not dealt with on the basis of “first in line”. We will need to see all of the claims before we propose a solution. All similar claims will be treated equally. "So WE need to file claims to get something back. Hoping they not going to convert to chapter 7 bankruptcy.
Unfortunately and unbelievable.

Bullion Direct filed Chapter 11 bankruptcy on 7/20/2015. If you had any precious metals in storage there, or money in a purchase account, kiss it good bye! Ouch!

Sold 4 Gold American Eagles and after filing a complaint the company released the funds for withdraw on 2 of the 4 ounces. I immediately requested a check. 1 month later the check never came and they are not replying to my communications. This is breaking the rules of business. I think that they slow played the BBB so as to dupe a few more people into doing business so they could steal some more. Discount Gold Brokers went out of business almost the same way.

Did not receive order from May 2015. NO communications or response

I've been buying from them for years and never had a problem. So when I didn't receive my April order in June I just thought it was because they were relocating their vault. So I bought more in June. They cashed my checks, then nothing.....a couple weeks later a message appears that says they are ceasing operations or some such thing. The Better Business Bureau has revoked their acredidation and they are now rated "F". Will I get my gold & silver or just my money back....who knows, probably will get nothing. I feel like I've been robbed.

I sold some gold through BD. Asked for my money and now they suspended operations? $4500.00!!! I hope the rest of you can afford this because I can't.

Deposited cash systematically for bullion purchases.
Used a portion of cash balance to purchase bullion in April 2015.
Cash was withdrawn from account. Bullion was never delivered.
Withdrew remaining cash from account. Account was marked to zero due to cash withdrawal...no check was ever sent.

I had been a Bullion Direct customer for about 9 years. But to have this happen with, still, no visibility of what happened, or accountability of supposedly segregated cash accounts is a violation of basic tenets of trust, and is totally unacceptable in business.

Stay away from this company or you will lose your money. I'm ready to contact the Texas State Attorney General's office at this point. If I could give a negative rating, I would.

Like all the recent posts, I also paid money, check cashed, and shipment never happens. For whatever reasons, business do get into trouble and promises are broken. Delays happen. But, companies with integrity answer their customers concerns and do every thing possible to resolve the issues. But what companies take your money with no intention of supplying the order? And, they refuse to return your money. Any company in the world if they are unable to satisfy an order will refund your money. Not these people. The people who run this company have no integrity whatsoever and they are absolute cowards for never communicate with their customers or attempt to offer any resolution. Only the lowest level of human scum operates like this. Their behavior is beyond repulsive.

Over 200 ounces of silver paid for. No response from the company except website now says, "Suspending Operations."

No return responses from the company.

I used this company since 2008. In the past three months their time to process an order for sale has dragged out until now I have been waiting since June 9th for a cash order to clear.

Repeated contacts to the company via email (daily), telephone messages (daily) and express mailed letters to them and the Texas Attorney General have gone unanswered.

A few days ago they posted that they were suspending operations due to "technical" issues. The fact that they have been unwilling to communicate to their customers leads me to speculate about their future prospects. Then today I see that their BBB membership has been suspended.

I would certainly not recommend this company until they get their act together. My guess is that bankruptcy will prcede that.

My check received and applied by Bullion Direct on 5/5/15. Website at taht time advised that they were experiencing 6 week delay on orders. Have not received my order after 7 weeks. Current attempts at contact failed. Website now advises operations have been suspended. Looks like trouble.

Still waiting for my silver order to arrive. My credit card has been charged already, but no merchandise. I can't contact anyone and have received no reply.

Check cleared in March on a large order and has been "pending" for three months since. The vendor does not respond to:
>phone messages
>email
>a certified letter delivered through USPS

At this point I would be very happy to get my money back, but it looks like it will be going to litigation. Stay away at all costs.

I completed my order on March 2015. Till now I have not received my order. Left a ton of voice mails and never been returned. Such a bad customer service. Lack of information when the order would be shipped. I would not recommend BullionDirect to any of the friends. If there is a 0 rating , I would prefer to give them instead of 1.

Still waiting for delivery on paid up product and shipping from Bullion Direct fourth month. Emails go unanswered. Attorney hired in CT to proceed with suite. I have done business for over 5 years with them with former good satisfaction, clearly they are imploding.
-Andrew

I placed an order #6IA4EMN5ZC. They cashed my check on 3/13/15. I have not received the order yet and no information why has been not shipped or when it will be shipped.
Sent several emails, left messages but no lack.
I left a review a month ago but someone removed it.

Three weeks since my check was cashed and no product shipped and not commitment when it will be shipped. There is no account manager to talk to and emails seem to be automated. No one seems to be on the other line except to cash your checks of course. The company is clearly selling product that it can't deliver. They clearly don't have an interest to reassure their customers that there product is in the pipeline and earmarked. It would be worth a little more to me to have someone on the other end to tell me when they expect to get a shipment in to sell.

I have bought and sold different items from/to Bullion Direct for a number of years. I like that I don't have to wait on hold for Customer Service or even talk to someone...everything is at my finger-tips in my account. If I have a question, I use the Live Chat support.

I purchased a 1/4 ounce gold coin from them on Jan. 3 and found two differences with my other 1/4 ounce gold coins. 1) It was almost twice as thick 2) when I tossed it into the air, it had a dull thud. I have two other 1/4 ounce gold coins and they both have a metallic ring when I toss them into the air.
I brought this up with Bullion Direct and, first of all, they do not have a live person so there is no phone call, only email. They had me send it back, and after stating that they authenticated it, they said they would send it to an independent party to authenticate it again, and then would send me back the same coin.
That is a problem for me because if the coin is thicker than it is supposed to be and does not have a metallic ring, I do not trust it. Admittedly I am an amateur but coin experts say that the dimensions of a gold coin and the sound are indicators of authenticity. So I'm not sure what paperwork they would send me but I would rather have a coin like my other two coins in terms of width and metallic ring. They refuse to do that. Instead they offered to pay me melt value, which means that I would have to take a $70 loss on a $380 order. I asked if I could at least get the amount I paid, $347, and take the loss on the handling and shipping charges. I thought it would be better to take a bit of a loss and just put the issue behind me, but have not received any response for over a week. I take that as a no.
As of now, Feb. 11, I am still waiting and I do not have any coin from them and I have not received a refund.
I would say go with Apmex. I had a similar problem with a coin being too thick and they exchanged it. Apmex had good customer service and it was smooth. I cannot say that about this place.
If you ever have a problem, you'd have to email them and then hopefully you'll have better luck fighting through the resistance.

I had some difficulty selling my silver. There was no phone number to call and after some e-mail communications and BD fixing a problem with my account I was able to sell the silver. It was extremely frustrating having to wail for an e-mail communication and at times I had to write several e-mails to get a response. When I did sell the silver I was told my check would be sent within 3 or 4 business days. It took longer and I was told that a mistake was made on the check , it was stopped and I needed to void it and Fed ex it back to BD. This was a hardship and it took an extra two days to get the cash in my bank account which they deposited directly..
They need to provide a phone number for customers. They hold large sums of our money and need to improve customer /seller communication. I would not deal again with a company where I didn't have a live person to speak to.

I have dealt with this company for five years and all of the experiences have been good.
The only complaint with them have been mailing to another person.
Other than that, I have no complaints. The price I get there is cheaper than going to a retail shop. I can trade on the nucleo section if I don't like the retail price they offered.

I bought some silver rounds from the Nucleo Exchange, then sent in a Money Order. Waited for the Money Order to clear, then paid the balance. I then requested a Product Draw, and waited for the required clearance period.
The Produt Draw cleared, and now sits as "Pending Shipment" yet they have never shipped the silver rounds. I have e-mailed several times with ZERO e-mail returns or an answer to any of those e-mails. I asked that they cancel the Product Draw, yet they do not respond at all. Nothing!
In the Bullion Direct Forum, a Bullion Direct Representative made a comment that "We are filling orders with premuim silver in order to try and fullfil orders to get them shipped". Yet, earlier before they decided to cut off all communication, they sent me an e-mail stating that their inventory has been depleted and they were waiting for a shipment from their Facility Vault, and could not tell anyone when it would arrive due to security. (a lie)
I guestioned the Rep on the forum, and basically said that "someone was lying",that I now have two different stories, and for that Bullion Direct banned me permanently from the forum. I have not heard a word since, and they have refused to answer any e-mails.
On May 20th, 2013, I filed a formal complaint with the BBB of Austin TX. I received a message that the BBB had sent the complaint to BD, and was awaiting their response.
My opinion only is that all buyers should proceed with extreme caution before doing any busiiness with this outfit. It seems they are participating in short selling. Selling product they do not have, and then sourcing for it later to fill orders. This type of action is nothing short of fraud, and it is a crime.

I have purchased multiple times in the past from Bullion Direct, each time for physical delivery of small amounts of gold and silver. NEVER AGAIN!!! I wish I had read all of these reviews before my last order. I've always felt uncomfortable with their set up. They will communicate only by e-mail (absolutely no phone) and are really slow recognizing payments or delivering product. Right now I have an open order for a Feb 12 transaction which was paid in full via ACH on Feb 15. However, their online system falsely shows a payment was received on Feb 28 via check. (I even have a Feb 19 e-mail from them acknowledging receipt and application of payment). Their online system also says the item was "released for shipment" on Feb 28. Again, this appears to me to be totally false. ("Released for shipment from their vault" appears to be an arbitrary internal term and they say actual shipment generally is sent out 1-3 business days after the "release" date.) I've been e-mailing asking about my order, trying to get a shipping date and tracking number. Their latest story today (Mar 5) is that they began an inventory count last week and are "a little behind". Seriously, an inventory count should delay my order? They, apparently, cannot provide a shipment date or a tracking number at this time. At a minimum, this is unacceptably slow delivery and unacceptably poor customer service. My fear, after reading the other reviews, is I may never see my money or my gold. Should this situation change, I will promptly update this review. In the meantime, BUYERS BEWARE.

I do enjoy reading reviews. While i have had only good receipt of goods from BD. I also read in the fine BOLD print that due to high demand of precious metals. Delivery would be delayed until my entire order could be filled. It would not matter who i d have dealt with due to supply/ demand catchup, ive almost always been asked to wait no matter who my dealer. When markets were turbulent. I ve dealt with dillon gage in dfw, BD, and coloradogold.com
I wonder how many people on this forum are being truthful....and how many simply bought without a clue of what they had agreed to.

For those who think customer service is absent because they have no phone numer and only e-mail, you have to try their chat. Their chat is the onyl way you can talk to a human being and they are usually responsive. I liek BD for their low premium and their Nucleo exchange where you can get the best price for selling your silver and gold. For buying, you can sometimes find better prices in the catalog as people ask too much for their bullion. Sometimes you may even find a numismatic coin in the catalog.

I have ordered several times in the past from Bullion Direct without any major problems except that they are extremely slow and zero customer service. However, this most recent time they simply will not respond to email or phone. I locked in an order at a good price and then the price of sivler shot up. Now they have cancelled my order because they do not want to honor the price. I think they are a scam. No real way to contact them. I checked with the Better Business Bureau and they have had a lot of complaints. Do you not trust them and do no give them your business.

Just sold some of the metals I had bought from these jerks & they sent me 2 bad checks!! No way to contact them!!!

They are the cheapest I have found so far
all silver has come in almost mint condition or near mint. have bought from them 5 different times now
no problems what so ever

I have used BD on many occasions and have never had one single problem with them. I have used checks and wires both selling and buying.

Not happy with bullion direct. When you try to take delivery of items you purchased, you end up waiting and waiting. In fact I am still waiting for some silver I purchased. Stay away from this dealer. Looks like a ponsi scheme to me.

I have dealt with Bullion Direct for 2 years now, and have never had any issue at all. Be it selling or buying, great service. Be it receiving or shipping product, flawless. I also wait until I have a build up of product before I ship. It saves money. Good prices and always has the product. Have done several product draws and withdraws, all went very well.

I've transacted with them numerous times and all went smoothly. Prices are a tiny bit high on silver and unreasonably high for gold, but shipping and handling is very reasonable. I tried their exchange once, but thought their commission was unreasonably high.

I have bought some silver through them and found the exchange a very cool and exclusive concept. It is the NYSE of precious metals. I have yet to receive my orders but they have been around long enough to know it is not a scam. There website is down today however 9/23/11 and silver has taken a dive. I am wondering if they are afraid of selling a bunch of there catalog silver at these low prices while expecting the prices jump back quickly.

Works well, its an exchange and not a typical store/broker. You can put your price in and wait until someone excepts your price.
Commission is low.
They let you send a check for payment, no need for pricey wires for each trade. You can also send in a wire beforehand.
You can store for free or ship one purchase or groups which helps keep costs down and the cost to ship fedex is relatively cheap and well packed.
It does take a while to release shipments.

The negative reviews on this site are from people that don't know how to buy from BDirect. They're cheaper than pretty much everyone else. Best way to save as much $$ as you can. Buy and STORE in your portfolio until you have enough built up to draw from. It is incredibly expensive and impractical to buy 1 or 2 pieces and ship immediately.

If you purchase and store in your portfolio, you pay NO handling costs or mark ups. Once you have a decent amount of inventory built up, do a product draw. It only cost me about $20 to have BDirect ship me around 200 ounces of AG.

This is the worst place for shopping gold
and they will take atleast 20 business days to ship ,They dont even have a contact phone and all the support they do using chat(Till 2PM EST) and email.There
support also worst and dont buy from these guys, I already placed a 2 ounce gold order and waiting i dont know when i will recieve,Please be carefull with these guys.

I have to wait forever for my order and I still have not gotten it. I hope it is not a scam.

decent prices but really bad customer service. My motto is the quality (of product AND service) is remembered long after the price is forgotten.

Very expensive shipping and handling. I bought a 1/2 ounce gold eagle for $720, they charged me $45 for S/H. Too expensive. Provident is much cheaper.

I have been doing business with Bullion Direct for almost 4 years and I have never had a problem.
Good prices and good selection...I have bought and sold...not an issue.
Like the other guy said...if you build your account up...then seek a product draw..that's the way to minimize the Shipping and handling...I would also recommend Bullion Direct

I have had experience both buying and selling from Bullion Direct. All transactions have gone off without a hitch. I shopped around, and they offered the best prices, both buying and selling. I would highly recommend Bullion Direct.

Fair prices and a reasonable platform. however, VERY BAD, SLOW and UNPROFESSIONAL customer service.

If you would like to take delivery of the metals purchased be prepared to wait and wait and wait. Most of the savings have been eaten up though 'shipping & handling'.

You get what you pay for, in this case, maybe not.

Great to do business with. Great company.

Very disappointed. They do not have published min/max benchmarks for buying/selling submissions. Will not accept sell orders w/o responding with a reason. Consequently, your product (silver 100 oz. bars) remain in their custody and no way to retrieve or sell them.

They offer no customer service other than tel# with ans. service; the messages left they do not return. Multiple e-mails to BD were ignored and got no response.

Deals can be found on their nucleo. Fair pricing on their catalog page. Shipping is very reasonable if you keep your purchases in your portfolio until you have accumulated enough. Delivery time has been satisfactory.