(last updated January 28, 2015)
American Bullion is a precious metals company based in Los Angeles, offering varied investment services to the American consumer, since 2009.
American Bullion has many positive testimonials on their website, and has 30 positive reviews on Trustlink with a perfect 5 star rating.
The CEO of American Bullion is Mr. Brian Orkan Ozkan. Mr. Ozkan previously operated a company called “Tiger Financial” at the same address that American Bullion now occupies. According to the National Futures Association, Mr. Ozkan and Tiger Financial were involved in “deceptive and misleading sales solicitations”.
The complaint alleged that “Tiger Financial had approximately 3,300 customers during 2005 and 2,900 during 2006. 84% of its clients suffered net losses in 2005 and 91% of them experienced net losses in 2006. Collectively, those customers experienced net losses of $39.7 million during the 2 year period while the firm generated $23.7 million in commissions.”
Mr. Ozkan was reportedly suspended from the National Futures Association, along with several fellow staff members (Eric M. Golub, Ramon Chalis, Ameet Andhari, Dustin S. Smith, James A. Spear, Darcus O. Young and Christopher Brueck).
Here is a link to the full story: http://www.nfa.futures.org/BasicNet/CaseDocument.aspx?seqnum=1718
Mr. Ozkan went on to close Tiger Financial, and founded American Bullion. Tiger Financial was involved in trading futures, and American Bullion sells precious metals.
Products and Services
American Bullion specializes in dealing with precious metals in their physical form.
They offer bullion, precious metal IRA’s, 401k rollovers, and numismatics.
Here is an American Bullion customer review about their numismatic products (from the BCA):
|“I feel that Am. Bullion, Inc. took advantage of me to make a sale. I am a 70 yr/old pastor who was led to believe I was buying gold at a fair price… …I was under the impression that I was investing my retirement savings in gold and silver at a fair market price. Upon receiving the order confirmation, I realized that I was charged $2,625.00 per ounce for proof sets of Gold Eagles. Although it was never made clear to me that I was buying proof sets, the market price for this gold on October 1, 2011 was approximately $1,700.00 per ounce. I was shocked when I realized that I had invested $90,681.03 in gold and silver that was worth only $60,036.00.”|
Consumers should be aware of numismatic coins, as they are collector coins that can be subject to larger markup percentages. Bullion is much more common, and the prices are lower than numismatics. Some companies recommend numismatics, and they can charge more money for these coins, based on limited quantities.
Here are some more customer reviews of American Bullion services and products:
|“My agent did a great job of getting me started. We talked a lot over the phone and he just gave me a good feeling, a sense of respect. I’m really excited to see the portfolio of gold and silver that I bought! – Rafael, New York“I saw an ad online for American Bullion, and after a long conversation I chose to work with them. My agent had great communication skills and answered all of my questions. Really happy about my new purchase!” – Brett, Illinois|
American Bullion states on their website that their best sellers are American Gold and Silver Eagles (bullion), as well as American Gold and Silver Eagle Proofs (numismatic/collector coins).
According to their website, American Bullion is reportedly a member of the Professional Coin Grading Services (PCGS), the American Numismatic Association (ANA) and the Industry Council of Tangible Assets (ICTA). They are also a nationally listed dealer of the United States Mint.
Third Party Ratings
American Bullion has an AA rating with 9 complaints filed at the BCA (Business Consumer Alliance).
At the Better Business Bureau they maintain an “A” rating, with 4 complaints filed.
Yelp currently shows a 1 star rating of out 5.
Trustlink shows a 5 star rating with 30 happy customers.
The Company We Recommend:
(as of December 19, 2014)
Phone: 855-712-0016 (Open Monday-Friday from 8am to 5pm PST)
BBB: A+ Rating with Zero Complaints
TrustLink: Five Star Rating Based on 500+ Reviews
Business Consumer Alliance: AAA Rating with Zero Complaints
Yelp: 5 Star Rating
Read our complete review of Regal Assets here.
You can also see our other reviews of gold investing companies.
Editor’s note: If any information contained herein is found to be inaccurate, please notify us here.