A Detailed Review of the BullionbyPost Service
Henry Clibborn- BullionbyPost is an online bullion dealer.
- Customers can buy gold and silver coins and bars, as well as platinum and palladium bars.
- BullionbyPost sells bullion and precious metals to customers around the world.
BullionbyPost is an online bullion dealer founded by Marq Dewar in June 1999. It is based in Edinburgh, Scotland, and has offices in London. BullionbyPost specializes in bullion and precious metals and is the only online bullion dealer allowed to buy direct from the London Bullion Market Association (LBMA).
BullionbyPost: An Overview
Founded as Gold Bullion Limited (GBL) in 1985, BullionbyPost is one of the longest-standing and most respected providers of physical gold and silver. GBL was the UK's first online precious metals dealer and remains the principal company.
In 2008, GBL swapped its focus on gold bullion for one on silver, and in 2011, it launched BullionByPost.com. This company is now headquartered in London, and operates offices in Switzerland, Singapore, and Australia.
BullionbyPost Fees
BullionbyPost is one of the cheapest ways to buy gold bars online. Depending on the delivery method chosen, the company charges the following:
Delivery
BullionbyPost's delivery service charges $7.95 for shipping, and this price includes packaging, insurance, and tracking. BullionbyPost also offers expedited shipping for an additional fee.
Storage
BullionbyPost charges its customers a 0.5% annual management fee if they store their gold bars with the company.
Gold Bar Selection
BullionbyPost only sells gold bars, but it does offer a wide selection. Customers can select from 50, 100, 250, and 500 gram coins.
Insurance
BullionbyPost offers insurance to customers who buy gold bars. This insurance covers the loss, theft, or damage of the gold bars in storage.
BullionbyPost Storage
BullionbyPost has two storage options: vault storage and self storage.
Vault storage is the premium option, offering insurance, 24/7 protection, and personalized assistance from BullionbyPost's team of storage experts. Vault storage customers may also take advantage of withdrawal and deposit services.
Self storage is the second storage option offered by BullionbyPost. Self storage customers may store their bullion at the premises of BullionbyPost's local storage facility or may store their bullion at their own location. Self storage customers also have the option of withdrawing and depositing their bullion at a local bank. Self storage customers are not responsible for insurance, but must manage their own storage.
Shipping
BullionbyPost offers three shipping options:
1.) Royal Mail Special Delivery-This option offers delivery between 9:30 a.m. and 5 p.m. in two to three working days. This option costs £25.00 for a 1-kilogram (kg) order.
2.) Royal Mail Recorded Delivery-This option offers delivery between 9:30 a.m. and 5 p.m. in three to five working days. This option costs £45.00 for a 1kg order.
3.) Royal Mail Special Delivery Guaranteed by 9:30 a.m.-This option offers delivery by 9:30 a.m. the next day. This option costs £65.00 for a 1kg order.
Customer Service
Customer service is BullionbyPost's forte. Customer support is available by phone, email, fax, and live chat. BullionbyPost is also active on social media, with a presence on Facebook, Twitter, Youtube, and Instagram.
Customer Service Response Time and Quality
BullionbyPost's customer service is exceptional. It receives high marks for its prompt, courteous, and professional approach. BullionbyPost has a 24-hour, seven days per week support service.
Ease of Use and Website
The BullionbyPost website is well-organized and aesthetically pleasing. It is designed to be user-friendly and intuitive. A mobile app is also available for iOS and Android.
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The Bottom Line
BullionbyPost (BBY) is an online trading service that buys and sells gold and silver bullion and numismatic coins. For investors, the service is a good fit because it offers competitive prices and a simple ordering process. For sellers, the service is a good choice because of the minimal processing fees.
BullionbyPost is a marketplace for buying and selling precious metal bullion and coins. While the company doesn't manufacture or sell any products itself, it buys from and sells to collectors, investors, and dealers.
