Kevin Ashton
Today, we’ll look at Boston Bullion reviews.
They are a prominent precious metals dealer with an impressive product catalog.
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While I have covered many companies on my site, Boston Bullion stands out for its local presence and online reviews.
You’ll find many customers praising the company for its products and services.
If you’re considering investing with them or opening a gold IRA, be sure to read this Boston Bullion review.
I’ll go through their fees, prices, products, reviews, and many other aspects.
Let’s begin.
The Best Gold IRA Companies In 2024
Before I get started with this review, I want to inform you that I have reviewed dozens of precious metal IRA companies over two decades, and I have curated a list of the top 6 gold IRA companies in 2024. I highly recommend reading this article before proceeding with an IRA transfer.
The #1 Best Gold IRA is Augusta Precious Metals, with its A+ rating from Better Business Bureau, hundreds of 5-star reviews, and lifetime account support. Read my review on Augusta Precious Metals, or visit the official Augusta website to learn more.
About Boston Bullion:
Boston Bullion, founded in 2006 by Kenneth Murphy, is a well-known e-commerce platform and brick-and-mortar store specializing in the sale of valuable metals.
The organization was founded based on Murphy’s personal passion and expertise in precious metals, namely their importance in the U.S. monetary system.
Boston Bullion, a recognized institution in the industry, provides a wide selection of items including as coins, bars, rounds, and nuggets. These products come from well-known mints and refineries.
Moreover, their portfolio comprises gold, silver, platinum, and palladium, offered in diverse ways to cater to distinct investment requirements.
Boston Bullion’s primary focus is on offering a wide range of products at the most cheap rates, along with efficient delivery services. Our purpose is to cater to consumers not just in the United States, but worldwide.
Boston Bullion Products:
While looking into their catalog, I realized that Boston Bullion has one of the best selections to offer.
Boston Bullion offers a comprehensive range of precious metal products, catering to various investment preferences. Here’s a breakdown of the products you can buy at Boston Bullion:
Gold Products
- Gold Coins: This includes 1 oz gold coins, assorted gold coins, fractional gold coins, and specific series like the Lunar Gold Series.
- Gold Bars: Available in various weights, gold bars from reputable mints are offered.
Silver Products
- Silver Coins: Diverse options, including 1 oz silver coins and other denominations.
- Silver Bars: Available in multiple sizes and from different mints.
- Silver Rounds: Custom-designed silver rounds.
Other Precious Metals
- Platinum: Coins and bars made of platinum.
- Palladium: Various forms including coins and bars.
Specialty Items
- Silver Bullets: Novelty items such as silver bullets shaped like ammunition.
- Collector Series: Special series coins like the Chinese Panda and Canadian Cougar.
Additional Services
- Precious Metals IRA: Options for segregated and non-segregated storage for IRA investments, and the flexibility to take physical possession of metals.
- Expert Guidance: Personalized advice and customer service to enhance the investment experience.
Boston Bullion is known for its extensive selection of high-quality products and reputable service, making it a popular choice among investors looking to diversify their portfolios with precious metals.
Boston Bullion Pricing and Fees:
Unlike many precious metals companies, Boston Bullion is quite transparent about its pricing and fees.
According to their website, the company has a small brokerage fee of 3% on orders less than $50,000. Similarly, they charge 2% on orders ranging from $50,000 to $150,000 and 1% on orders above $150,000.
I really appreciate their transparency regarding their fees.
Many companies aren’t transparent about their fees and pricing.
Similarly, they charge a small shipping fee of $9.95 on domestic orders below $5,000 and no fees on orders above $5,000.
While they have shared their brokerage fee openly, Boston Bullion doesn’t disclose any information about its gold IRA fees.
I’m guessing their precious metals IRA fees would depend heavily on their custodian.
Furthermore, the company has already disclosed its shipping charges as well.
Best Gold IRA Companies I’ve Worked With Yet (In 2024)
If you’re seriously looking to invest in precious metals or open a gold IRA, these are the companies I believe you should go with. My experiences with all 3 of them have been excellent.
Augusta Precious Metals (Best for Investments Over $50,000)
Augusta Precious Metals ranks as the #1 gold IRA company in the US. And that’s for good reason.
They have some of the best product catalogs with gold, silver, platinum, and palladium products to offer. But the main highlight is their dedicated web conference and the added focus on client education.
Augusta has an A+ rating on BBB, 1000+ client testimonials, and has been awarded “Most Transparent Company” in 2023 by Investopedia.
No other company puts as much focus on educating their clients about the different aspects of gold IRAs as they do.
My own experience with them was amazing to say the least.
However, their minimum investment requirement is $50,000 which limits the number of people who can open a gold IRA with them. Still, if you have the budget, you shouldn’t look elsewhere.
Goldencrest Metals (Best for Gold Investments)
Run by an actual financial advisor, Goldencrest Metals is another reliable name in the gold IRA industry.
Although they seem new, the team behind the company has been in the finance sector for decades. You would be surprised to see the level of expertise and knowledge these guys have.
My interaction with them was eye-opening. I learned a lot about precious metals through Goldencrest Metals.
That’s why they are my 2nd best suggestion for those interested in gold IRAs.
Preserve Gold (Best Customer Support)
Preserve Gold is a well-established name in the precious metals industry now.
I have talked to several of their clients and all of them praise their excellent support staff. The level of attentiveness and care I noticed there was surprising.
Preserve Gold is one of the few companies that, I can say with confidence, are 100% client-focused.
You’d love to talk to them if you’re new to precious metals investing.
What is a Gold IRA? What are Its Advantages?
While we’re discussing Boston Bullion, you might wonder why they focus on gold IRAs.
These investment avenues have become increasingly popular recently.
A Gold IRA (Individual Retirement Account) is a self-directed retirement account that allows you to invest in physical gold, along with other precious metals like silver, platinum, and palladium. Unlike traditional IRAs, which typically hold paper assets such as stocks and bonds, a Gold IRA allows you to diversify your retirement savings with tangible assets.
These accounts let you choose the precious metals you want to invest in. Hence, you get more freedom and accessibility.
Advantages of Investing in a Gold IRA
- Diversification: Gold IRAs provide diversification to your investment portfolio. By holding a mix of assets, including physical precious metals, you can reduce the risk associated with market volatility.
- Hedge Against Inflation: Gold has historically been a strong hedge against inflation. As the cost of living rises, the value of gold often increases, helping to preserve your purchasing power.
- Safe Haven Asset: During economic downturns or periods of financial instability, gold is often seen as a safe haven asset. Its value tends to remain stable or even increase when other investments are losing value.
- Tax Benefits: Similar to traditional and Roth IRAs, Gold IRAs offer tax advantages. Depending on the type of IRA you choose (traditional or Roth), you may benefit from tax-deferred growth or tax-free withdrawals.
- Long-Term Stability: Gold has been popular as a precious metal for thousands of years and has maintained its purchasing power over time. This long-term stability makes it an attractive option for retirement savings.
- Ownership of Physical Assets: Investing in a Gold IRA means you own physical gold, which can provide a sense of security and tangible value.
Things to Consider Before Opening a Gold IRA
- Storage Costs: Physical gold needs to be stored securely, which can incur additional costs. Most Gold IRAs require storage in an IRS-approved depository.
- Fees: Setting up and maintaining a Gold IRA can come with higher fees compared to traditional IRAs, including account setup fees, storage fees, and custodian fees.
- Liquidity: While gold is generally considered a liquid asset, selling physical gold can sometimes be more complex and time-consuming compared to selling paper assets.
- Market Risks: Like all investments, gold prices can fluctuate. Although it’s considered a safe haven, it’s not immune to market forces.
Investing in a Gold IRA can be a strategic move for diversifying your retirement portfolio and protecting against economic uncertainties, but it’s important to carefully consider the costs and risks involved.
Boston Bullion Reviews and Complaints: What Do Others Say?
While looking into this company, I realized it would be best if I share some additional Boston Bullion reviews with you here.
This way, you’d get a better understanding of what it’s like to work with them.
Boston Bullion has garnered reviews and ratings across multiple platforms:
- Better Business Bureau (BBB): Boston Bullion holds an A+ rating with the BBB, which reflects a high level of trust and minimal complaints from customers. This rating is indicative of the company’s commitment to resolving customer issues promptly and maintaining transparent business practices.
- Business Consumer Alliance (BCA): Boston Bullion has an AAA rating from the BCA, which signifies excellent performance in handling consumer complaints and maintaining high customer satisfaction. The company’s responses to complaints and the overall low number of unresolved issues contribute to this favorable rating.
These ratings suggest that Boston Bullion is a reputable and reliable company in the precious metals industry, with strong customer service and a commitment to resolving issues efficiently.
Some Boston Bullion Reviews I Found:
Many of their customers praise the company for its products and service.
Here are some of those reviews:
Here, Deb shares that when she was in Boston, she went to the store in person. However, even though she has moved to Florida, her sales rep still provides her with excellent service.
Also, she highlights that you can expect “top-class service” from this place.
Similarly, Matt shares that he sold 1oz gold Maple Leaf coins to this place. However, the prices Ken (Boston Bullion’s rep) offered to to him were more than fair.
As a result, they finalized the deal within minutes.
Matt shares that the sales rep here is very likable and trustworthy. Furthermore, he highlights that he’ll be a return customer of this place for sure.
In the above case, the reviewer shares that they had an awesome experience selling their Silver and Gold through Boston Bullion.
Moreover, they highlight that the staff proved to be highly responsive to all of their questions and provided them with a fantastic offer on their collection. The user found the selling process to be easy and seamless. They did not hesitate one bit to do business with Boston Bullion again.
Regarding Boston Bullion complaints, I didn’t find many. There were some reviews criticizing the lack of availability of some products. However, they were few and didn’t have much else to say.
Overall, Boston Bullion’s reviews paint a very positive picture.
Free Resources and Education Center
One unique highlight of this company is its plethora of free resources for precious metals investors.
These educational resources are immensely beneficial for gold IRA investors as they enhance understanding and confidence in making informed investment decisions.
Moreover, these resources provide comprehensive insights into market trends, economic factors influencing gold prices, and the regulatory framework surrounding gold IRAs.
By accessing Boston Bullion’s detailed guides and expert analyses, investors can better grasp the advantages and risks associated with gold IRAs. Also, it enables more strategic portfolio diversification.
Additionally, their educational blogs and guides often include step-by-step instructions on setting up and managing a gold IRA, ensuring that investors comply with IRS regulations and avoid potential pitfalls.
Certainly, such resources ultimately empower investors to maximize the benefits of their gold IRA investments while minimizing uncertainties and potential errors.
Pros and Cons of Boston Bullion
Pros:
- Boston Bullion provides an extensive assortment of precious metals in different forms, accommodating a wide range of investing preferences.
- The organization offers specialized knowledge and direction to its consumers, boosting their investing experience.
- They are transparent about their pricing and fees on their website.
- Boston Bullion has nearly 20 years of industry experience.
Cons:
- No information available on their precious metals IRA fees.
- Boston Bullion mostly conducts its activities online, which may not accommodate individuals who prefer conducting transactions in person.
Conclusion
Boston Bullion is an impressive company. They have a great product catalog as well as a transparent fee structure.
If you’re in Boston, you might certainly find them useful.
On the other hand, their e-commerce store is also quite functional. According to their online reviews, the company also seems very customer-friendly.
However, if you’re considering opening a gold IRA, I recommend browsing other options as well.
There are plenty of precious metals companies
FAQs on Boston Bullion
Is Boston Bullion considered a reputable company?
Boston Bullion is a well-regarded corporation, recognized for its dependable services and top-quality products.
When did Boston Bullion enter the industry?
Boston Bullion was established in 2006. They have been in the industry for nearly two decades.
Who is the proprietor of Boston Bullion?
Kenneth Murphy is the one who established and now possesses Boston Bullion.
Which precious metals does Boston Bullion offer?
Boston Bullion provides a range of gold, silver, platinum, and palladium in different formats.
What is the business model of Boston Bullion?
Boston Bullion functions as an e-commerce store and physical merchant, engaging in the purchase and sale of various valuable metals.
Here are some frequently asked questions (FAQs) on precious metals IRAs:
What is a Precious Metals IRA?
A Precious Metals IRA is a self-directed Individual Retirement Account that allows you to invest in physical gold, silver, platinum, and palladium. It differs from traditional IRAs in that it holds physical assets rather than paper assets like stocks and bonds.
Why Should I Consider a Precious Metals IRA?
Investors consider precious metals IRAs to diversify their portfolios, hedge against inflation, and protect against economic instability. Precious metals often retain value better than paper assets during market downturns.
What Types of Metals Can Be Included in a Precious Metals IRA?
The IRS allows certain types of gold, silver, platinum, and palladium to be included in a precious metals IRA. These metals must meet specific purity standards:
- Gold: 99.5% pure
- Silver: 99.9% pure
- Platinum and Palladium: 99.95% pure
How Do I Set Up a Precious Metals IRA?
To set up a precious metals IRA:
- Choose a reliable gold IRA company.
- Open a new IRA account and fund it (via transfer, rollover, or new contributions).
- Select an approved precious metals dealer.
- Choose the metals to purchase.
- Arrange for storage in an IRS-approved depository.
What Are the Storage Requirements for Precious Metals IRAs?
The IRS requires that the physical metals be stored in an approved depository. This ensures the safety and security of the metals. Home storage of IRA-purchased metals is not permitted.
Are There Any Fees Associated with Precious Metals IRAs?
Yes, there are typically several fees associated with precious metals IRAs, including:
- Account setup fees
- Annual maintenance fees
- Storage fees (charged by the depository)
- Dealer fees (for purchasing metals)
Can I Take Physical Possession of the Metals in My IRA?
No, you cannot take physical possession of the metals while they are part of the IRA. You can, however, take a distribution of the metals, but this will be considered a taxable event and may incur penalties if you are under the age of 59½.
What Are the Tax Benefits of a Precious Metals IRA?
Precious metals IRAs offer the same tax benefits as other IRAs. Contributions to a traditional precious metals IRA may be tax-deductible, and earnings can grow tax-deferred until you take distributions. Roth precious metals IRAs allow for tax-free distributions under certain conditions.
How Do I Sell the Metals in My Precious Metals IRA?
To sell metals held in your IRA, you will need to contact your IRA custodian and follow their process for selling the assets. The proceeds from the sale will go back into your IRA.
What Are the Risks of Investing in a Precious Metals IRA?
Investing in precious metals carries risks, including price volatility, potential for theft (though mitigated by secure storage), and lack of liquidity compared to other assets. It is important to consider these risks and diversify your investments accordingly.
How Do I Choose a Custodian for My Precious Metals IRA?
When choosing a custodian, consider factors such as:
- Experience and reputation in handling precious metals IRAs
- Fee structure
- Storage options and security measures
- Customer service and support