This company is based out of Cambridge and they are an organization focused on selling precious metals including silver, platinum, palladium, and gold. They also have a storefront in Massachusetts that serves various clientele in Cambridge and the surrounding area including other states. If you do not want to go to their physical brick-and-mortar location, you certainly have the right and opportunity to buy precious metals by purchasing them on their website.
In general, precious metals companies are often excellent at what they do or they are potential scammers looking to take advantage of unsuspecting victims. How does Boston bullion fare in the industry? Are they legitimate? Do they stack up well against their competitors?
The Truth about Boston Bullion
As mentioned above, this Cambridge Massachusetts based company has a storefront and they are also a precious metals dealer that sells gold and silver online. The owner and founder of the company runs this organization like a small business and mainly manages the day-to-day operations. Many customers have claimed that they had excellent experiences doing business with him and they say he ask with honesty and integrity.
You can buy gold and silver and other precious metals from Boston Bullion by looking at the information shared about these products online. Website showcases bullion and coins that you can purchase through the organization. The prices change on listed products every day because the precious metals market fluctuates, so keep that in mind.
Since the website does list their product prices, you can look at the websites of other precious metals dealers for quick and easy comparisons. But in truth, there are plenty of companies out there that do not provide quotes online and only give them to you after you call them, which makes it difficult for online shoppers to find the best competing prices amongst precious metals dealers.
Boston bullion provides fair prices to their customers without adding huge markups the way other precious metals dealers do. Since they do not charge big commissions, you’ll have an easier time seeing your investments grow in the future.
Online Precious Metals Purchasing Process
As you shop around online on their website, you can add various precious metals products to your online shopping cart. But it’s not an e-commerce platform per se, so you’ll need to call the company while they are open to place your order over the phone. Putting items in your cart is just a way to keep everything straight and gathered beforehand. Calling it a shopping cart isn’t necessarily true, but it’s a good way to help you create a shopping list of gold, silver, platinum, and palladium precious metals products that you intend to purchase.
After placing your order to buy precious metals by phone, the price that you were quoted on the telephone gets locked in. The costlier precious metals will never increase from this point going forward, which is great because the value of precious metals may go up in the interim and you’ll already find yourself making money off of your investment.
But it also works in reverse. If the value of gold drops after you’ve committed to making your purchase, you are still required to pay the locked-in price.
How to Make Payments to Boston Bullion:
- Wire transfer
- Personal check
- Cashier’s check
Customers do not have the opportunity to pay for their precious metals via credit card during the checkout process. If you’re paying via personal check or cashier’s check, you have to mail it out within 48 hours and have a post market dated within that time after your order has officially been confirmed. And the company expects their customers to mail in their payment within 24 hours after placing the order.
The company provides free shipping to its customers as long as the order contains 5 ounces of gold or more. But if you make a much smaller purchase, shipping costs a flat fee of $19.95 per shipment. Unfortunately, the flat rate is a lot higher than the majority of the other precious metals brokers selling gold and silver online and this is particularly true if the product is being shipped within the continental United States.
They ship all orders using the register priority mail, so you’ll receive them within a couple of business days once the product is shipped. The boxes also have full insurance for the product, which means you have to sign for it because the post carrier will not leave it at your door without a signature. The post office will attempt to redeliver your precious metals package if no one is home to sign for it at the time.
The fastest and best way to pay for your product is via wire transfer. This eliminates having to use snail mail to make your payment and your order will get shipped much quicker because it only takes two days for payment to clear. If you pay via check, the company has to wait 10 days at a minimum for the check to clear before mailing out your precious metals.
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Company Policies and General Information
At Boston Bullion, bullion is their specialty instead of rare collectibles or numismatic coins. The company has a no return policy in place. But if you do have an issue with your order and contact them within the initial three days after receiving it, they will take the necessary steps to fix the problem.
One really important and helpful aspect is their pricing straightforwardness. They do not charge additional broker fees, extra shipping fees, or unexpected handling fees other than the ones that they claim they charge. It’s all packaged into the price that they quote over the phone upon locking in your offer.
You don’t even have to pay taxes if you live outside of Massachusetts and make a purchase from this company. Within Massachusetts, sales taxes waived entirely if your order cost more than $1000. And they will not report your check payments or wire transfers to the government for tax reasons either.
They work hard to provide competitive pricing and they do a good job of keeping their individual prices low for varying precious metals. They get their distributors to give them volume discounts, which in turn makes it cheaper and more affordable to buy precious metals from this company.
The company has a wide array of precious metals inventory on hand. So, if you buy a small order of coins, as an example, the storefront will typically have enough inventory to ship out your order right away. If you buy a large purchase or a bowl purchase, they will use one of their distributors to source the purchase.
This allows their customers to get discounted coins at low rates while paying wholesale discounts. They do not increase their shipping prices either.
When you buy gold from this organization, the coins are typically newly minted and not historic coins from a long time ago.
Selling Precious Metals to Boston Bullion
You can sell them precious metals whether you’ve bought them from Boston Bullion or not. The coins must come in their original packaging and they must meet the highest quality standards.
Typically, they’ll purchase precious metals for 3% less than what they charge. This is transparent and easy for the seller to figure out how much they’ll get quoted by looking at their website.
Is Boston Bullion a Scam Company?
In truth, Boston Bullion isn’t a scam company whatsoever. Typically, they work with local clients in the Cambridge Massachusetts area, but they definitely have legitimate products and services. They are BBB accredited and have an A+ rating, as well as many positive reviews on the Internet.
Particularly, customers really like this company a lot and say they are dependable, honest, and act with integrity. The owner provides customers with straightforward pricing answers and is always willing to answer customer questions and concerns regarding precious metals. Their storefront isn’t open to the public, so you have to make an appointment to buy and sell precious metals. Anyone else can buy them online and over the phone.
Boston Bullion Pros
- Excellent accredited Better Business Bureau rating and positive customer reviews
- Daily prices listed on their website
- The company’s owner is trustworthy and honest
Boston Bullion Cons
- The majority of their businesses handled at the storefront as opposed to online
- Customers cannot check out online and must call them to complete your order
This Cambridge based company is a precious metals leader in the New England area. You can visit their storefront to buy precious metals via appointment only. You can also place an order online that you’ll need to confirm by calling them on the phone.
The company has an excellent reputation along with its owner. They are known to be dependable, honest, and even straightforward with their customers as they act with integrity. Customers believe that the pricing is fair when they purchase their precious metals.
Please note that this company is considered a small business, which is why the bulk of their customers are in their regional area. Other companies have much bigger teams and have more people available to help, so you may choose one of those instead.