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Quality Silver Bullion is a precious metals company that deals directly in the minting business. Rather than acting as a third party between the mint and the buyer, they sell you products directly from their own mint. As such, they create unique silver items that you can't find anywhere else in the world.
But are these novelty items actually worth investing in? What sorts of people buy from this company? Are their practices actually legitimate?
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About Quality Silver Bullion
Quality Silver Bullion has been in the precious metals business for 13 years. Their headquarters is found in Orem, Utah. The company focuses chiefly on silver, unlike many other dealers who focus on gold and other metals.
According to the website, the company produces silver because it has high investment gains. It's true that silver is one of the precious metals with the highest potential for gains. Because silver is used in so many electronics, it can easily become scarce. As the demand for the product goes up, so will the price.
This is why people sometimes invest in silver as though it has more potential than other precious metals. Unlike gold and platinum, silver has a real world application that could be reflected in scarcity pricing.
Quality Silver Bullion, as the company name states, is focused on creating high quality bars and rounds made of silver bullion. The mint has experimented and refined its processes to ensure that it creates the highest quality bullion possible.
The website states that the company's prices are competitive. It does seem that they have competitive pricing for silver. They also have extremely low shipping rates. But there's a huge caveat with that: shipped packages aren't insured unless you pay extra. So if your items get lost or stolen, you'll lose your investment.
According to the site, there are several things that set this company apart from the competition.
High Quality Rounds
The company makes unique silver rounds that can't be found anywhere else. Each of the pieces is stamped with a beautiful engraved design that has an extremely high level of detail. It's true that these pieces are beautiful, and they will probably appeal to a novelty collector. They aren't quite investment grade products, though.
But if you're not looking for investment grade products, Quality Silver Bullion's items really are beautiful. Every round is pressed with a die, which causes the coin to have a gorgeous metallic finish.
When you're purchasing from a precious metals dealer, you want to be sure that you'll get what you're paying for. That goes doubly when you're buying from the mint itself. It's easy for there to be mixups or mistakes during the refining process.
Quality Silver Bullion promises that they never let that happen. They guarantee that every single round is at least a solid ounce. Before being put on the market, each of the rounds goes through a strict weighing and grading process.
All of the rounds must also be at least .999 purity, one of the highest purity standards in the industry. As mentioned, the pieces all also have that beautiful metallic finish.
Quality Silver Bullion states that their biggest priority is customer satisfaction. According to their website, you can read reviews from satisfied customers. However, all of this content appears to be hosted on the site.
By contrast, we had an extremely difficult time finding third party customer reviews. So it's hard to tell whether the testimonials and videos on the website are legitimate, or whether they're marketing tools created by actors.
Now, you may be wondering whether this mint provides IRA services. It's common for precious metals dealers to sell gold and silver that can be held in a retirement account. For many Americans, the only way they can buy a large amount of investment-grade gold and silver is by using their retirement funds.
Quality Silver Bullion has IRA services... sort of.
They don't appear to be partnered with any custodians. And their website doesn't explain the process of setting up a self-directed IRA. Most gold IRA dealers at least tell you the steps involved in funding your account.
However, the Quality Silver Bullion website does acknowledge that precious metals IRAs exist. Not only that, but it has an excellent page of information about IRA approved silver.
This page explains that you can hold silver in your retirement account, as long as it's a product approved by the IRS. You can't hold any of the mint's novelty items in your account. You must meet the following qualifications:
It seems that Quality Silver Bullion does sell silver that comes from other mints, though. They have products from the US Mint and a few international mints. You can browse products on the website specifically filtering for IRA-eligible silver.
Quality Silver Bullion's main focus is on silver. They have silver coins from both the US Mint and the Canadian Mint. Other silver items that they manufacture themselves include:
The rounds are all stamped with unique designs that commemorate different places, holidays, and figures.
Silver isn't the only precious metal that the company sells, though. They also have some limited gold and copper items available. Gold bullion is available from multiple mints worldwide, while copper products include US minted coins and Quality Silver Bullion designs that commemorate history.
In addition, you can purchase collectors accessories through the website, such as coin holders and coin inspection materials.
Is Quality Silver Bullion a Scam?
Quality Silver Bullion doesn't appear to be a scam. Or at least, we can't find any definitive evidence that the company is a scam. There don't seem to be any major complaints online. If there are, they're well buried.
But it's been extremely difficult to find any reviews of the company at all. It's like no one has ever wanted to post a third party response online. There are some testimonials on the website itself, but third party reviews tend to be more trustworthy.
We were able to find one archived forum where people were discussing the company. Most of the feedback was good. One person said that he'd placed an order with no issues, and then he'd gotten access to an excellent discount for future orders. Another person pointed out that the company's shipping fee didn't include package insurance, which is slightly concerning.
That forum seems like enough to confirm that the company does indeed mint and sell the products it claims to. But it's hard to learn more than that. Without any customer feedback, it's difficult to determine whether their policies are actually enforced.
Another major red flag is the company's Better Business Bureau page. They don't have any ratings or reviews, but they do have an NR rating. That stands for Not Rated. Sometimes the BBB gives companies this rating when it doesn't have enough information, but sometimes it gives this rating because of an ongoing investigation. The company also isn't accredited with the organization.
There's nothing to definitively say that Quality Silver Bullion is being investigated by the BBB, just like there's nothing to definitively say that they've had 100% customer satisfaction. But it does give us pause.
Pros & Cons of Quality Silver Bullion
There's nothing inherently wrong with Quality Silver Bullion. The company is clearly legitimate. It mints unique products and sells them, and it seems to be doing well as a business overall. The philosophy behind the corporate policies is solid.
But there are just enough red flags that we can't wholeheartedly recommend them. It's hard to find reviews of the company online, even though they've been in business for well over a decade. We had to dig through an archived forum to find anyone who'd even bought from them before.
Their BBB page also gives them the NR rating, which indicates that the BBB isn't rating until they have further information. There is no BBB accreditation. The company owner's name is only available through the BBB page, and there's very little contact information. That doesn't bode well for the overall customer service.
And for those who are looking to open a precious metals IRA, this company isn't very helpful. They do have a product category for IRS-approved silver that you can put in an IRA. But they don't help you connect to any custodians to create an account, nor do they explain the IRA setup and funding process at all. It's clear that IRAs are not a big focus for their team.
We hope that you enjoyed this review of Quality Silver Bullion.
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