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Bullion Shark is among the most popular bullion dealers for precious metals enthusiasts. Not only do they have access to basic investment bullion, but they also make an effort to source the rarest of rare coins. Their inventory includes historic, ancient, classic, modern, and generally rare coins.
There's no question that this company is one of the best for numismatic collectors. Because they employ numismatic experts, they can track down even the rarest of coins on the market for you. But are they actually worth investing with outside of rare coins?
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About Bullion Shark
Bullion Shark was founded in 2014 and is family owned and operated. The company has one of the largest inventories in the precious metals market. While much of their focus is on numismatic rarities, they also provide full investment bullion coins and bars.
Bullion Shark has a website where you can buy bullion, an eBay store for purchasing rare coins, and a retail outlet.
The company has a few services beyond just providing precious metals, too. They will help you determine which precious metals work best for your unique needs, help you with investing precious metals into an IRA, and help track down any collectible coin that you're trying to get your hands on.
If you want to make a purchase from the company, you don't have to look any further than the website. The eCommerce platform safely and securely processes your payment information. There are also multiple methods that you can use to pay your dues, including:
Each payment method comes with its own benefits and drawbacks. Keep in mind that paper checks are the slowest by far. They have to be mailed in, and then they have to be held for processing before your items can be released.
Every order that totals more than $99 has free shipping. Regardless of whether your shipping is free or not, your order will ship with full insurance. Until you sign for it at the door, you are fully protected against theft, loss, or damage.
If you have precious metals that you want to sell, you can send them to Bullion Shark for a free appraisal as well.
Is Bullion Shark a Scam?
Bullion Shark is not a scam. The company has garnered mostly positive reviews online, with a few mixed opinions. On the BBB website, they have 3.69 out of 5 stars based on 16 customer reviews. They are also accredited and have an A+ rating.
There have been just 2 official complaints filed with the BBB over the past three years, neither of which was filed in the past year.
Only one of the complaints is available to read. It was posted in January of 2020. The customer said that when they received their items, the boxes of coins were damaged, and the coins themselves had come loose. This significantly impacted the value of the item.
Despite reaching out repeatedly, the company refused to talk to the customer for over a week because they said the phone line was just for sales calls. When the customer emailed, it took forever to get a response. Finally, the customer was told that a packaging return slip would be sent so that the return could be processed.
But the slip was never sent. The customer had tried several more times to contact the business, but the business hadn't responded to them in the slightest.
Bullion Shark's resolution was not posted publicly. However, the customer did follow up to say that they had received a response. They were satisfied with the solution and considered the matter resolved. Presumably they were finally able to return their damaged shipment and exchange it with a new one.
Sometimes accidents happen in transit, especially with delicately packaged precious metals. That isn't necessarily the company's fault. But it is concerning that the customer had such a frustrating time getting in contact. They shouldn't have needed to file a complaint to resolve this problem.
On the other hand, there are far more positive reviews than negative.
One reviewer said that he was impressed by how large the inventory was and how competitive the pricing was. He said that Bullion Shark often seemed to get the hottest coins before any other dealers had them. This customer worked exclusively with one sales rep, who he said is honest and knowledgeable.
Another customer similarly praised a specific sales rep, stating that he was extremely professional and intelligent. The customer said that he trusted the rep's integrity and honesty. He only worked with this one sales rep when working with Bullion Shark because he knows that that person is trustworthy.
One more customer said that it was a pleasure to work with the employees of Bullion Shark. He too named one specific representative, stating that this rep exhibited strong professionalism and discretion. The customer said that he loved talking to this rep when he needed guidance about precious metals. Then he went on to praise the quick delivery time and overall service.
Throughout 2021, several poor reviews of the company were left. Most of these customers cited poor customer service experiences. Two of the customers stated that their purchases never arrived, and the order was cancelled because the items weren't actually in the company's inventory.
Two other complainants said that the company's service was fine, but then the sales reps began cold calling them to try to encourage another sale. It is concerning that multiple customers complained about cold calls around the same time. It seems like it was difficult for both of these people to be placed on the do-not-call list.
Bullion Shark has never responded to these negative reviews to clear the air. Customer reviews don't count toward a BBB rating the same way the official complaints do. So they can ignore the negative customer reviews and still maintain an A+.
Pros & Cons of Bullion Shark
Bullion Shark is a popular choice for people who want to purchase precious metals. Unlike some other online bullion dealers, this company also offers a host of numismatic rarities. They even have numismatic experts on staff, so you can get insights about the pricing and rarity of different coins.
If you're looking for a very specific rare coin, Bullion Shark is a good place to start. Even if they don't have it in their inventory, their numismatic experts will try to track it down for you. The company's pricing is also competitive.
However, if you're planning to invest in basic investment-grade bullion, then you might want to work with a different company. There have been several complaints about Bullion Shark selling bullion it doesn't have, and then cancelling the orders. In addition, there have been complaints that the company cold calls people despite their requests not to be called.
Several customers did say that their particular customer service representative is wonderful. However, this experience seems to be hit-or-miss. If you don't get an excellent sales rep, then your experience with the company could be very frustrating. For this reason, we believe it's a good idea to work with a different option.
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