What happened bullion direct?

The next day, Bullion Direct suspended operations. Last week, Bullion Direct filed for Chapter 11 bankruptcy, stating they have as many as 6,000 total claimants and total debt “perhaps as great as $25 million.”

Who is Charles McAllister?

Charles McAllister was the CEO and majority shareholder of Bullion Direct, Inc. (“BDI”), the company he founded in 1999. BDI was an online platform that facilitated the trading of precious metals.

What is the meaning of gold bullion?

Bullion refers to physical gold and silver of high purity that is often kept in the form of bars, ingots, or coins. Bullion can sometimes be considered legal tender, and is often held as reserves by central banks or held by institutional investors.

Does SD bullion sell fakes?

we use to verify all product authenticity (especially any secondary products purchased). Authentic bullion dealers always sell bonafide bullion products, otherwise they risk their reputation, business future, or being shut down by law enforcement.

Who owns direct bullion?

Paul Withers –
Paul Withers – CEO & Founder – Direct Bullion | LinkedIn.

How pure is gold bullion?

People who purchase gold bullion as an investment should only buy a bar that features the name of its manufacturer, its weight, and its purity, usually expressed as 99.99% stamped on the face.

Can you trust SD Bullion?

SD Bullion is a trusted precious metals dealer with IRA eligibility. The company works with trusted and renowned mints both in the country and other countries worldwide.

Do gold dealers sell fake gold?

Fortunately, while fakes are perhaps more common than they have ever been, it’s easy to avoid them. There are a lot of strict protocols and procedures in place to ensure that reputable bullion dealers only sell the real deal. You just need to make sure that you use one of these dealers.

What is today’s price of silver?

MONEX Live Silver Spot Prices

Is it legal to own gold bars?

Can I Legally Own Gold Bars? Gold is legal to own. From 1933 to 1974, it was illegal to own gold bullion without a license. On December 31st, 1974, private gold ownership restrictions ended.

What did bullion direct do to your money?

So while Tulving customers lost metal from a single purchase, most Bullion Direct customers lost metal from many purchases, often over the course of years. Bullion Direct also held metal — paper, actually — in hundreds of IRA accounts. People were trusting Bullion Direct to safeguard their life savings.

What’s the difference between Tulving and bullion direct?

What sets this sad situation apart from the failure of The Tulving Company is that people stored metal with Bullion Direct (or at least thought they did). So while Tulving customers lost metal from a single purchase, most Bullion Direct customers lost metal from many purchases, often over the course of years.

What did bullion direct hold in IRA accounts?

Bullion Direct also held metal — paper, actually — in hundreds of IRA accounts. People were trusting Bullion Direct to safeguard their life savings. That trust was misplaced. Bullion Direct opened for business in 1999, and patented its unique process for connecting buyers and sellers of bullion.