Large Online Coin & Bullion Dealer Suspends Operations

BullionDirect.com, a large online coin and bullion dealer, has recently suspended operations due to transactional delays.  The following message is posted on the homepage of their website:

 

Bullion Direct has experienced significant transactional delays. To avoid further inconvenience or other adverse consequences to our customers, Bullion Direct is suspending its operations as it attempts to resolve those issues. We intend to keep you informed at this website. Thank you for your patience.
Further research reveals that they have allegedly failed to fill a substantial number of orders.  The comments on Gold Dealers Reviews show that in some cases customers have waited months for their orders without any word from Bullion Direct or their representatives.  Additionally, they have an “F” rating from the Better Business Bureau and have had their accreditation revoked.
We previously shared with our readers two other instances of large online coin and bullion dealers who experienced significant issues and eventually went out of the business.  While Bullion Direct’s future remains uncertain, recently, we’ve seen an alarming number of well established and respected online dealers fall by the wayside.  While we recommend that you always thoroughly research the reputation of any online dealer that you’re considering doing business with, the fact of the matter is that ordering online is not 100% secure.
Due to the risk of an order not being filled and for a host of other reasons, we recommend that you opt to do business with a local coin dealer.  In addition to taking immediate possession of your coins and bullion, which is the most important factor, we’ve outlined a number of other benefits in working with a local coin dealer.  We are not by any means implying that it’s unsafe to conduct business with an online coin dealer; we’re simply making the case that local is always better.
We hope that you found today’s post informative and will continue to keep you posted on the latest developments of BullionDirect.com.  In the meantime, feel free to contact us day or night with all of your coin and bullion buying and selling needs.  We look forward to hearing from you and earning your business!
Tony Davis
Tony Davis