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September 21, 2022

Midwest Bullion Exchange Review: Is It This Reliable Company? (2022)

Welcome to my Midwest Bullion Exchange Review.

What is Midwest Bullion Exchange, and what kind of services do they offer? Is the company legit, or is it a scam? Well, let’s find out!

This review will take an in-depth review of Midwest Bullion Exchange and see if this company is legit or not or if it is just a waste of time and money.

In this review, we will try to answer all your questions about the Midwest Bullion Exchange and understand more about this company and see if it is a scam or not.

Midwest Bullion Exchange Quick Summary

  • Name: Midwest Bullion Exchange
  • Website: privatebullion.com
  • Founder: Scott Hage
  • Minimum order: $5,000
  • Rating: 3/5
Midwest Bullion Exchange logo

What Is Midwest Bullion Exchange?

Midwest Bullion Exchange is a company that Scott Hage owns, and it was founded in 2009.

The company is also known as Private Bullion, and it is a full-service precious metal.

The company is located at 601 Carlson Parkway, Suite 1050 Minnetonka, MN 55305.

They aim to provide their clients with the best and highest standard products available in the market.

How Does It Work?

All shipping and insurance fees are paid by the company. Once your product has shipped, you will receive a confirmation email with a tracking number.

To complete your order, head to the checkout page when you've picked out everything you need. Your order's billing and shipping details, as well as your preferred mode of payment, will all need to be entered there.

They take a variety of payment methods including PayPal, bank wire, cashier's check, and credit cards. Place your order once you've read and agreed to the terms and conditions.

The order's pricing will be confirmed at the time of placement. You will receive an email confirming your order, including payment information and any other necessary details.

You will be notified via email as soon as your funds have been received. The order will be shipped as soon as the payment has been processed.

Midwest Bullion Exchange Products And Services

Midwest-Bullion-Exchange products-min

Midwest Bullion Exchange has a wide variety of precious metals, such as gold, silver, platinum, and palladium.

The precious metals also come in bars and coins, and there are also IRA-eligible ones.

The Gold products include the Gold Austrian Philharmonic and American Gold Buffalo.

As for the silver, it has the American Silver Eagle and Canadian Silver Maple Leaf are among the options.

Not just that, they also offer Platinum American Eagle and Canadian Palladium Maple Leaf.

Other products include collectible coins and IRA services.

However, most of its products are "Out of Stock."

Does Midwest Bullion Exchange Offer Storage?

Yes, Midwest Bullion Exchange offers storage.

Delaware Depository provides the vault storage of the company's IRA-eligible products.

It offers both segregated and non-segregated storage options. 

Lloyd's of London is also fully insured, which is one of the oldest insurance companies in the world.

For the custodial services, Midwest Bullion Exchange is partnered up with GoldStar Trust Company.

Midwest Bullion Exchange Reviews and Ratings

The company is not accredited with BBB, but they gave the company an A+ that is good, and only has one complaint.

The complaint is that "He bought $50,000.00 of silver bars from this company, and they failed to deliver, but they won't return his money."

The good part is that the money has been refunded.

See the image below for the full detail.

Midwest-Bullion-Exchange bbb
Midwest-Bullion-Exchange-BBB-complaints (1)

Here we will see the rating and reviews of the company and what other people experience when they buy the products.

I found 2 review websites, and that is Yelp.com and golddealerreviews.com.

On Yelp, there are 2 reviews, and they gave the company a 5 out of 5-star rating.

However, the reviews are old.

Midwest-Bullion-Exchange yelp
Midwest-Bullion-Exchange yelp 1
Midwest-Bullion-Exchange yelp 2

With golddealerreviews.com, there's a total of 49 reviews, and they gave the company a 4.9 rating which is also good.

It means that most of them like the company as they have good experience with them but some had a bad experience like the item was delivered late, but that was a long time ago.

Midwest-Bullion-Exchange gold dealer
Midwest-Bullion-Exchange-golddealerreviews-reviews (1)

What I Like About Midwest Bullion Exchange

  • Variety of products

Among others, they offer gold, silver, platinum, palladium coins, silver, platinum, rhodium bullion, collectible coins, etc. Many of which are IRA-eligible.

  • Good product and services

They have a great deal of precious metal varieties, some of them are rare finds. I could say the same for their services, they have storage and custodial services. 

  • A lot of positive reviews

Unlike other precious metals company, you can easily find and ready great interviews of this company online. These reviews mean the company has done a great job running their business and it strengthens their credibility.

  • It has been around since 2009

The length of time they've been in business is proof that they care about their customers and provide for them effectively.

What I Don't Like About Midwest Bullion Exchange

  • Lacks reviews

Given how long they've been in business, there aren't many reviews posted about them. Even if the majority of the reviews are positive, this absence can cause customers to be skeptical.

  • Not accredited with BBB

Being BBB accredited is significant because it is a major aspect in assessing a company's trustworthiness. In this instance, it will most likely reduce their appeal to clients.

  • Most products are out of stock

Nothing is more frustrating than deciding to purchase an item only to discover that it is unavailable. The availability of their products, or lack thereof, may deter clients.

Is Midwest Bullion Exchange A Scam?

Midwest Bullion Exchange is NOT A SCAM. It is a legit company that offers a wide variety of precious metals, and it is partnered with various companies such as Delaware Depository and GoldStar Trust Company.

The company has a lot of positive reviews, which is good even though those reviews are old, at least we know what they have experienced.

However, some of their products are "Out of Stock" so it is not always available. Plus, they are not accredited by BBB which is a setback.

Final Thoughts

Now you know about Midwest Bullion Exchange and why they are a legitimate company.

The company has been around since 2009. The company got a lot of positive reviews from their customers, which is good even though those reviews were old.

The downside is that most of their products are out of stock, and they are not accredited with BBB.

If you are looking for a better alternative, we highly recommend Augusta Precious Metals. Click on the button below to see what makes them my top recommended precious metals company.

Thank you for taking the time to read my Midwest Bullion Exchange review. 

If you have any questions or experiences with this company, please share in the comments below.

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Xenia Raye


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