What is International Bullion Exchange?
International Bullion Exchange is a precious metals dealer in Malibu, California. IBX was established in 2009. The company offers a range of products, including coins and bars, which are often IRA-approved for retirement investors.
The company also offers investment-grade diamonds for customers interested in diversifying their investments. International Bullion Exchange (IBX) is a company that deals in precious metals, including gold, platinum, silver, and palladium. IBX also provides services such as bullion trading, storage, and logistics for clients worldwide.
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People Behind International Bullion Exchange:
International Bullion Exchange (IBX) is located at 30745 Pacific Coast Hwy #139, Malibu, CA 90265-3647. The company has been in business for 13 years, having started on 11/8/2009. It was incorporated on 4/21/2013.
IBX has had a BBB accreditation since 1/19/2010. Also, Mr. Don Varden is the President and Ms. Debbie Barney is the Office Manager. Customers can contact Ms Debbie Barney, who also serves as the Principal and Customer Contact for the company.
There are concerns about the lack of transparency regarding who runs the International Bullion Exchange. As well as the absence of pricing information on the company’s website. Additionally, vault storage for IBX products is dependent on other depositories.
Overall, it’s important to exercise caution and do your own research before investing your money with any company, including International Bullion Exchange.
How to Invest in International Bullion Exchange IRA?
To invest in an International Bullion Exchange (IBX) Precious Metals IRA, follow these steps:
- Contact IBX: Contact IBX to speak with a Precious Metals Specialist who can guide you through the process. IBX has a comprehensive IRA Rollover Department that handles the entire process for you.
- Set up a Self-Directed IRA: You will need to set up a Self-Directed IRA account with a third-party custodian that allows precious metals investment. IBX works with several of the largest and most respected 3rd party Custodians that have thousands of satisfied clients.
- Fill out the necessary forms: Your IBX Precious Metals Specialist will provide you with the proper forms to be filled out and answer all your questions.
- Fund your account: You will need to fund your account with cash or rollover assets from an existing IRA, 401K, or other eligible retirement account.
- Select and purchase precious metals: Once your account is set up and funded, your Precious Metals Specialist or an IBX Senior Trader will help you select and lock in a price for the gold and other precious metals assets you may want in your account. IBX then ships the physical metals to the designated custodian for receipt into their depository vault.
- Manage your account: Your IBX Precious Metals IRA functions in the same capacity as your current IRA accounts, with statements sent to you regularly. The only difference is that instead of holding paper assets, you will now be able to hold physical gold, silver, platinum, or palladium coins and bars.
When it’s time to sell or take a distribution, IBX will be there to help you every step of the way. The IBX Precious Metals IRA Rollover process is IRS-approved and 100% tax-free.
International Bullion Exchange Products:
International Bullion Exchange offers a wide range of precious metal products. These include gold coins, gold bars, silver coins, silver bars, platinum coins, platinum bars, palladium coins, and palladium bars. Moreover, the company’s inventory includes many popular IRA-approved coins and bars, as well as some numismatic coins for collectors.
For those interested, IBX also offers investment-grade diamonds. These products are available in various sizes and weights to meet the needs of investors with different budgets and investment objectives. Their product selection is certainly impressive for retirement investors. However, I recommend investing with a more specialized service provider.
Gold Coins
International Bullion Exchange offers a selection of popular gold coins for investors.
Including the American Gold Buffalo coins, Saint-Gaudens, French Roosters, Swiss 20 Francs, British Gold Sovereigns, Austrian Philharmonic Gold Coins, Canadian Gold Maple Leaf coins, and American Gold Eagle coins.
These coins consist of high-quality gold and are famous worldwide for their purity and value. Many of these coins are IRA-eligible for retirement investors who wish to include physical gold in their investment portfolios. Each coin has a unique design and specifications. That makes them attractive to collectors as well as investors.
Gold Bars
International Bullion Exchange also offers Johnson & Matthey gold bars in 10-ounce and kilogram sizes.
These gold bars consist of .9999 fine gold and are famous worldwide for their quality and purity. The 10-ounce Johnson & Matthey gold bars are a popular choice for investors who want to buy gold in smaller increments. Johnson & Matthey is a reputable precious metals refiner. Their gold bars are a trusted option for those looking to invest in physical gold.
Silver Coins
Morgan Silver Dollars, Silver Pandas, U.S. Peace Silver Dollars, and American Silver Eagles are all popular silver coins offered by International Bullion Exchange. Morgan Silver Dollars were minted from 1878 to 1904 and again in 1921. Silver Pandas are Chinese silver coins first introduced in 1982 and feature a panda design that changes annually.
U.S. Peace Silver Dollars were minted from 1921 to 1935 to commemorate the end of World War I. American Silver Eagles are the official silver bullion coin of the United States. First minted in 1986 and featured a design of Lady Liberty on the obverse and an eagle on the reverse.
Silver Bars
There are two types of silver bars offered by the International Bullion Exchange:
- 1000 OZ. BAR – This is a large silver bar that weighs 1000 troy ounces (approximately 68 pounds). These bars are commonly used in industrial applications. Such as in the production of electronics or in the manufacturing of silverware.
- 100 OZ. SILVER BARS – These bars weigh 100 troy ounces (approximately 6.8 pounds) and are often used as a convenient way for investors to buy and store silver. The Johnson Matthey brand is a well-known and respected name in the precious metals industry, and its silver bars are popular among investors.
Platinum Coins
There are two types of platinum coins offered by the International Bullion Exchange:
- Canadian Platinum Maple Leaf Coins: Starting in 1988, the Canadian Platinum Maple Leaf Coin is the official platinum bullion coin of Canada. It was produced by the Royal Canadian Mint. The obverse of the coin features the likeness of Queen Elizabeth II. While the reverse displays the iconic Canadian maple leaf. The coin has a face value of $50 CAD and contains .9995 fine platinum.
- American Platinum Eagle: The American Platinum Eagle is the official platinum bullion coin of the United States. It was first introduced by the US Mint in 1997. The obverse of the coin features the Statue of Liberty, while the reverse design varies by year. The coin is available in 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz sizes. Each with a face value denominated in US dollars. The American Platinum Eagle contains .9995 fine platinum.
Platinum Bars
10 oz Johnson & Matthey bars are a popular choice for investors who want to own physical silver. These bars are made of .999 fine silver and are produced by Johnson Matthey. They are a reputable precious metals company with a long history of producing high-quality bullion products.
The bars are stackable and easy to store. Making them a convenient option for investors who want to store large amounts of silver in a small space. They are also recognized and accepted by precious metals dealers and investors around the world, making them a highly liquid investment option.
Palladium coins
The Canadian Palladium Maple Leaf is a bullion coin produced by the Royal Canadian Mint and was first introduced in 2005. The coin features the iconic Canadian maple leaf on the reverse side, while the obverse side depicts an image of Queen Elizabeth II.
As a palladium bullion coin, it is a popular investment option for those looking to diversify their precious metals portfolio. The 1 oz. weight is a common denomination for bullion coins and is a convenient size for investors to buy and store.
Palladium Bars
Palladium bars are bullion bars made of palladium, a rare and lustrous silvery-white metal that belongs to the platinum group of metals. These bars typically have a high level of purity and are produced by accredited mints and refiners around the world.
Palladium bars are a popular investment option for individuals and institutions looking to diversify their precious metal holdings, as palladium is highly valued in the industrial sector for its catalytic properties and is used in a variety of applications, such as automobile manufacturing and electronics production. International Bullion Exchange offers palladium bars in various sizes, including 1 oz, 10 oz, and 1-kilogram sizes.
International Bullion Exchange Fees and Charges:
The website of International Bullion Exchange does not provide any information about their fees and charges.
So, to learn more about their fees, you’ll need to get in touch with them directly.
The fees and charges associated with buying or selling gold can vary depending on several factors, such as the weight and purity of the gold, market conditions, and the dealer or broker you choose. Some dealers may impose a fixed fee or commission, while others may adjust their prices based on the prevailing market rates of gold. Therefore, it is important to carefully review the fee schedule and associated terms and conditions of the dealer before making any investment decisions.
International Bullion Exchange Reviews and Complaints:
- Better Business Bureau (BBB): International Bullion Exchange has A+ ratings in their BBB account. No customer reviewed them there till now. They had 0 closed complaints in the last 3 years. They are in business for 13 years. The company has an accredited business profile in Better Business Bureau.
- Business Consumer Alliance(BCA): The company has AA ratings on its Business Consumer Alliance (BCA) profile. Also, they have had 0 customer reviews and complaints there.
- Yelp: International Bullion Exchange has 5 stars ratings out of 5 stars. However, they have only one positive review on their profile. Yelpers reported that this location is closed now.
According to Robert L. H., he found the company to be very helpful in providing suggestions for several approaches to investing funds in precious metals.
Are There Any International Bullion Exchange Complaints? Should You Be Concerned?
There are not many online reviews available about the company. When it comes to investing, it’s important to research a company before deciding to invest in them.
One of the ways to do that is by looking for reviews and feedback from other customers who have done business with the company.
This feedback can help you understand the company’s strengths and weaknesses, and whether or not it is a trustworthy and reliable investment option.
In the case of International Bullion Exchange (IBX), it is concerning that there are no online reviews available about the company. This lack of reviews makes it difficult for potential investors to get an idea of what it’s like to work with IBX and whether or not the company has a good track record of customer satisfaction.
Without online reviews, it can be difficult to verify the legitimacy of the company and the quality of its services. This is especially true in the world of investing, where trust and transparency are essential. Investors need to be confident that the company they are working with is reputable and has a good track record of delivering on its promises.
While the lack of online reviews is not necessarily a red flag in and of itself, it does mean that investors should proceed with caution and conduct thorough due diligence before making any investments with IBX or any other company.
International Bullion Exchange Lawsuits:
Many clients have sued IBE for various types of lawsuits, which may raise a red flag for prospective customers. A few of them are listed below:
UniCourt
- On July 15, 2013, Village Shoppes Associates Ltd filed a property lawsuit against International Bullion Exchange Inc. This case was filed in Broward County Circuit courts, Broward County Central located in Broward, Florida.
- Not only has IBE been sued by customers, but they also faced legal consequences which led them to sue others, such as Lucas Erb. Lucas Erb was sued for property fraud by IBE on December 3, 2014.
Justia
- On November 22, 2013, American Gold Exchange Inc sued International Bullion Exchange for intellectual property violation.
Is International Bullion Exchange Legit? Should You Invest With Them?
While IBX seems like a legit company, I don’t recommend investing with them. Certainly, they have been in business since 2009 but I think there are better options available.
For IRA investors, there are plenty of better options available in the market.
Still, the IBX website contains a “Resources” section that covers a wide range of topics related to precious metals investing, including the history of silver, why owning gold can be beneficial, and a video subsection.
Additionally, IBX claims to offer IRA-approved products, along with storage and logistics services, which may be useful for clients who want to store their precious metals in secure facilities.
Pros:
- A+ BBB rating
- IRA-eligible products available
Cons:
- Very limited online presence
- Few online reviews are available
When choosing a precious metals dealer, you should always go with a reputed and reliable provider. To learn about the most reputed gold IRA companies, I recommend checking out my list of top gold IRA providers.
There, you can also find the best precious metals company in your state.
Have you dealt with IBX? How was your experience? Let me know in the comments.