Top Complaints About Direct Bullion

• Investing in precious metals can provide investors with diversification, but comes with risks.
• Precious metals are mined out of the ground, and each metal has its own production, demand, and price drivers.
• Gold, silver, platinum, palladium, and other precious metals ETFs and ETNs broadly track various metals, and may be best for investors looking for broad exposure to the market.

The market for investing in precious metals is vast, with more than $5 trillion in assets under management (AUM). Assets in the precious metals sector are down 49% from their 2011 peak, but the industry seems poised to rebound.
"Investors are seeking opportunities today that they may not have had in the past," said Matt Badiali, senior metals and mining analyst at Banyan Hill Publishing, in a phone interview. "Gold and silver are undervalued compared to stocks and bonds."

Delayed Shipments

When customers purchase precious metals from companies like Direct Bullion, they expect to receive the metal when they expect it. This is not always the case, though, as Direct Bullion has experienced its fair share of shipping delays, as highlighted by numerous complaints on the BBB.
Limited Customer Service
When it comes to customer service, Direct Bullion has failed to meet expectations. In fact, Direct Bullion has received over 100 complaints regarding its customer service practices.
Misleading Pricing
Customers have also complained about the transparency of the pricing and fees charged by Direct Bullion. While there may not be hidden fees, customers have reported being surprised when they noticed that Direct Bullion used multiple shipping carriers for their orders, which increased the cost of shipping significantly.
Poor Communication
Customers state that Direct Bullion fails to keep them up to date on the status of their orders. They report waiting weeks or even months before receiving updates on their orders, leaving them concerned about the status of their shipment.

Late Delivery or Missing Shipment

Some customers report that when they ordered, they received emails stating their purchase had been shipped, but when the emails bounced, the bullion never arrived.
Delayed Shipments
Customers report receiving shipments that were significantly delayed. The delays were sometimes due to a shortage of stock, but other times, customers report waiting months for shipments to arrive.
No Response from Customer Service
Bullion buyers report that when they contacted customer service, they were ignored or given unsatisfactory responses.

Extra Fees That Are Not Visible Until the Delivery

While Direct Bullion promised no additional fees, many customers were surprised to learn that there was a $25 charge for receiving their gold bars.

Poor Customer Service
Since Direct Bullion was brand-new, it was difficult to find customer service representatives.

Low Quality Gold Bars

Some customers received gold bars that were of poor quality.

No Know-How or Experience

Direct Bullion sold gold bars, but customers did not have access to any information or advice to guide them in their decision on the type of gold bar to buy.

Extra Fees That Are Hidden

According to the BBB, complaints about Direct Bullion included hidden and unexplained fees. A customer was charged $34 for insurance and $35 for shipping.
A customer was also charged $50 for the sale of a single gold bar that was $900.
A customer was charged $20 for a "hidden" fee.
A customer was charged $85 for "hidden" fees.

Misleading/Untruthful Information
A person said Direct Bullion "made it sound like there was no fee to sell gold and silver."
A customer was promised a 4% return but was only given 3%.
A customer was charged "$10 hidden fee."

Poor Customer Service
A customer was promised a 4% return but was only given 3%.
A customer was promised a 4% return but was only given 3%.
A customer was promised a 4% return but was only given 3%.

Problems with Product
A customer said, "at the end of the day, my gold was melted down ingots, and the gold was not of the fineness that I was expecting."

Shipping Damage

Unfortunately, shipping damage is a common problem, and it can be difficult to receive compensation for damaged or lost items.
Low Quality and Quantity
While many people choose direct bullion to avoid the markup of third-party dealers, some find the quality of buying direct to be too low for the price.
Poor Customer Service
There is often an extended waiting period for buyers to receive their items.