As an investor interested in adding precious metals to their retirement portfolio, you may want to know if it’s a good idea to work with Quality Silver Bullion. The thing you need to know is that this company doesn’t offer precious metals IRA accounts. In fact, they are simply a company that mints .999 fine silver bullion, which is eligible for an IRA but they do not help customers open their accounts.
There’s an economic downturn taking place right now, which means many people are beginning to invest in precious metals like silver, gold, platinum, and palladium. The stock market has been struggling tremendously for the last few months and it’s time to begin diversifying your investments even further.
Today, I’d like to do each and every one of our readers a favor. I am going to fully review Quality Silver Bullion and determine whether or not this company is trustworthy, has a good reputation, and more. I will look at the products they offer, die further into their website, and even share some specific company information as well.
No matter what, you’ll definitely find out some stellar information about this company by the time you’re through reading this. So, keep reading to discover everything that I’ve learned about this precious metalsbroker.
IMPORTANT – before we get too far in this review, we’d like you to know we’ve vetted quite a few companies in this space.
We know that selecting a company to work with is a major financial decision and something not to take lightly. InvestingInGold.com has put in extensive research spanning many years in order to compile a list of the 5 highest recommended companies for this year.
==> See our #1 recommended company for precious metals investing
We urge you to view the links to see where Quality Silver Bullion stacks up against the competition.
Information about Quality Silver Bullion
This company is a precious metals dealer that was originally founded in 2008 by a man named Jim Little, who is the owner and founder of the company. The company also shortens their name to QSB, which is a simpler way of saying Quality Silver Bullion.
This company first opened its doors on 12/9/2008 and it is considered a sole proprietorship. They are based out of Orem, UT and for all intents and purposes, this organization doesn’t seem to be a company that’s facing lots of complaints or other problems. But there is very little information shared about them online as well, which many people might consider a red flag.
According to the Better Business Bureau, they originally opened their file on the company on 5/28/2010, and they do not consider QSB an accredited business.
Delving deeper into their BBB overall picture, I can say with absolute certainty that they haven’t received any reviews on the website, so customers haven’t said anything positive or negative in that regard, which makes it hard to determine if this is a trustworthy company or not.
On the other hand, customers have not filed any complaints with the Better Business Bureau either. So, it doesn’t appear that this company has a wide range of unhappy customers floating around online, at least as far as the Better Business Bureau is concerned.
After searching through Trustlink, the Business Consumer Alliance, and Trustpilot, I can also tell you that this company doesn’t have a presence on any of these other trusted online peer-reviewed websites. This may be positive because nobody felt the need to write about them and complain. Or, it may be negative because the company might be so small that there really isn’t a whole lot of information about them online at the moment.
Quality Silver Bullion FAQ
Many Quality Silver Bullion customers have questions that need answered before they determine whether or not they should do business with this company. QSB has put together a frequently asked questions section on their website, which I will share some of the information with you below.
The most promising questions include:
How Do I Create a QSB Account?
Creating an account is optional if you are going to purchase something from their website. They do not require you to create an account in order to buy something with them.
But if you want to create an account, when you work on completing your order, there is going to be a box on the checkout page that will make it possible for you to create an account. The only thing you need to do is enter a password that you’d like to use to log on to the account and the account will get created once your order is placed.
Why Was My Card Charges Multiple Times When It Said My Order Failed?
This is a scary thought and something I definitely wouldn’t want happening to me. If I put my credit card information into their account and they tell me they charge it multiple times even though my order failed, I would find this really off-putting and scary to say the least.
QSB claims that if you get the notice saying that your order failed, they will not charge your credit card multiple times. But you will be charged once and your order will go into a pending status that will last for 3-10 business days. The only way this clears up is one your bank recognizes the fact that the transaction failed, and then they will return the funds to you.
Now, in the event that they do charge your credit card for an order that failed, they request that you contact them to let them know about the problem. They will send your bank a notice from their processing system letting the bank know that the payment failed.
I don’t know about you, but I really wouldn’t want to go through this major hassle of wondering whether or not I’m about to lose my money. They should do a much better job with their payment processing so this never becomes an issue. This is a huge red flag in my opinion and more than enough reason to avoid buying products from a Quality Silver Bullion.
Does Quality Silver Bullion Do Custom Minting?
According to the information on their FAQ page, it turns out that QSB is actually a subsidiary to the parent company Regency Mint. Regency Mint will handle all of their custom minting, which is something that they do. Find out more information about custom minting from Regency Mint by clicking here.
What Does It Mean When QSB Has a Product on Backorder?
They do not have a large stock of products on hand. So, depending on the type of product you’re looking for and the amount, they may not have it in stock at the time. They would let you know that it’s on backorder to tell you that if you do want it, it will have to ship out at a later date.
Since they are their own mint, they will mint your order as well, which definitely leads to a backorder because they still have to mint the actual silver, gold, or copper products. They claim to do everything that they possibly can to ship your order quickly, but some of their backorders can take a long time to ship, with as many as six weeks between the time you order it to the time that they actually start shipping you the product.
Again, while I wouldn’t necessarily call this a red flag, I cannot say that I’m thrilled by the way they handle their backorders. I’d rather deal with the company that has my products in stock so I know they can ship them out within a couple of days instead of having to potentially wait six weeks before my investment finally gets delivered.
Product Availability and Pricing
As I perused through the QSB website, I wanted to take a look around to see what kind of products that they had to offer. And I also wanted to find out if they shared pricing information on their website, which is something that not every online gold or silver broker is willing to do.
The good thing is that they do share pricing information on their website, which makes it easy to compare their products to other online retailers in the precious metal space. So, this is definitely a positive in my opinion.
But as I dug further, I learned that many of the products that they sell are out of stock. What’s the point of putting pricing information on the web if you do not have the products available to purchase?
The first thing I looked at was their world silver coins. They have two of them for sale with price information. Those products include:
- 2019 Australian 1-ounce Silver Kookaburra
- 2019 Chinese Silver Panda (30 g) .999 Fine
Guess what? Both of these silver coins are currently out of stock.
Next, I decided to move on to silver rounds. They currently have 14 different silver rounds listed on their website. After digging into the situation further, I learned that 4 out of 14 silver rounds were currently out of stock.
I don’t how you feel, but this doesn’t bode well for me. I’d prefer doing business with the company that keeps plenty of products on hand for fast shipping and quick transactions.
Quality Silver Bullion Pros
- They mint their own products through parent company Regency Mint
- They sell many IRA approved silver and gold coins, bars, and rounds
- Their pricing appears to be affordable when compared to other websites
Quality Silver Bullion Cons
- Many of the products that they sell are out of stock
- They keep very little inventory on hand
- Their online presence is sorely lacking on online peer-reviewed websites like the BBB, BCA, and Trustlink
- They do not help their customers get set up with precious metals IRAs
Bottom Line
While it doesn’t seem like Quality Silver Bullion is a scam company by any means, this company still leaves a lot to be desired.
Personally, I wasn’t a big fan of the fact that so many of their products were out of stock. I do not like that they intentionally keep products on backorder because they have to mint them and it could take six weeks for them to ship the products out. And I also dislike the fact that I cannot prove whether or not they are reputable because they have so little information shared about them on the web.
I’d recommend choosing a more well-established, bigger, and better reviewed company instead of doing business with Quality Silver Bullion.
About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He's also a published author, and his views on investing have been featured in USA Today, Tech Times, The Huffington Post, Nasdaq, and many more.
