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Among the highly respected and popular precious metal dealers in the USA is Pennco. Pennco Bullion has developed a specialty in providing a variety of bullion forms, including gold, silver, platinum, and palladium.

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There's a reason this is our #1 recommended precious metals company:

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  • A+ BBB rating
  • AAA customer rated
  • 5x Inc 500 winner


Table of Contents
1
Company Establishment
2
Pros of Pennco Bullion 
3
Cons of Pennco Bullion

Company Establishment

Pennco Bullion Reviews

The company was established in the year 1967 in Philadelphia. It has since then been offering its services to clients in the USA and abroad. Pennco is a privately owned bullion dealer and is not associated with any bank or financial institution.

The company's primary objective is to provide its clients with a wide range of precious metal products at competitive prices. The company also supports the concept of safe investing for everyone, regardless of their financial standing.

Pros of Pennco Bullion 

Pennco Bullion Reviews

Product Authenticity

All products that Pennco offers are guaranteed to be authentic and are sold at competitive prices. To ensure that every customer who purchases from them receives only authentic precious metals, the company sources their products from only trusted suppliers based in North America, Europe, Asia, and Australia.

They also take pride in emphasizing their customer service excellence by providing their customers with a wealth of knowledge about all precious metal products they offer through their website. The website provides a platform to share valuable information about bullion investment and related news stories on gold price analysis, silver price analysis, and platinum price analysis.

Safety and Security when Selling Bullion Bars

The selling of bullion bars takes within high leveled security procedures. Pennco ensures that all precious metals handled by their company are kept in a vault. All customers are also required to provide an identification card and a document containing their signature when they want to purchase any of the precious metals offered by the company.

Pennco is a member of the Professional Numismatists Guild, which is an organization that provides its members with professional development and networking opportunities. The company has also been a member of the American Numismatic Association since 1987. This association is dedicated to educating people about the history of coinage and numismatics and promoting national awareness about rare coins and medals.

Customer Education

Pennco has strongly embraced education for its clients.

  • They have invested in their popular free newsletter sent out every two weeks. This newsletter is unrivaled in the industry and contains independent reviews of gold and silver coins, bars, and bullion.
  • Their website also contains a wealth of information for investors, including a free gold calculator that lets you determine how much your gold is worth in today's market.

    The Pennco Bullion team has also recently launched their own self-titled YouTube channel. You can find over 100 educational videos about buying and selling precious metals with one of Australia's largest bullion dealers.
  • Pennco Bullion is also proud to have an active Facebook page updated every few days with news on precious metals trading.

    The page has over 50,000 followers worldwide and is a great way to keep up to date with all the latest news from bullion trading. They even have a popular blog that discusses important topics like how to buy gold coins or how to sell your gold safely online.
  • Pennco Bullion is also proud to sponsor the Pennco Bullion Podcast. The podcast is updated weekly and features interviews with some of the biggest names in bullion trading. It is a great way to learn more about the industry and listen to it here.

Cons of Pennco Bullion

Pennco Bullion Reviews

Misunderstanding Between the Client and Broker

There have been several complaints between the brokers and clients regarding the purchase of metals.

  • The clients are not aware of the financial risks when it comes to investing in metals. The brokers have been accused of providing misleading information to their customers.
  • The complaints started when a customer bought five hundred ounces of gold bullion. He paid the broker $25,000 and agreed to wait for the price of gold to rise before he sold it back to the broker.

    After waiting two months, the client could not contact the broker and sell his five hundred ounces of gold bullion back at a higher price. After trying several times, he decided he would keep it until he could get in touch with the broker again.
  • Another client was charged by her broker for storing her metals at Pennco Bullion's facility. She was charged $10 per month for each one hundred ounces she stored there. When she went there to pick up her metals, she found they were worth less than what was paid for them originally; therefore, she lost money on her investment.

    When she questioned why this happened to her investment, the broker told her that it was because of storage fees and other charges associated with holding them; however, the broker never disclosed this information before purchasing them from Pennco Bullion's website or during the sales presentation given by the brokers.

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