Your Source for Financial Crime News

Latest News, Photos, Videos on Financial Crimes

Today: July 23, 2024
2 weeks ago
56 views

Financial Scam: SD Bullion Review (2024)

Gold, silver, and platinum may be purchased online at SD Bullion. But these bullion merchants aren’t your average bunch.

Among the most infamous firms in the sector is what seems to be a straightforward gold and silver dealing organization. Hundreds of customers have griped about the company’s immoral dealings, poor customer service, and seeming disregard for their needs.

Some of those buyers have also voiced their displeasure with the vendor, claiming that they are overcharged and get counterfeit goods.

Read what their previous clients have to say about them before you think about doing business with them:

How is SD Bullion operated?

SD Bullion was established in 2012 as a precious metals broker. Consumers dispute their claim that they are among the best bullion dealers while continuing to provide the best prices.

SD Bullion’s chief executive officer is Swift Wall. 

You may reach them at 800-294-8732 and they are open from 8 AM to 6 PM every working day (except Fridays). Their office is only open till 5 PM on Fridays.

They trade in a variety of silver and gold items, such as coins and bars. You may also purchase and sell platinum bars and coins using them.

Gold Maple Leafs, US Silver Eagles, 90% Junk Silver, 1 oz Silver Rounds, Australian Gold Coins, British Gold Coins, and a plethora of other items are available on their website. In addition to these products, sdbullion.com provides resources for learning about gold and silver.

The multiple SD Bullion evaluations paint a very varied picture, despite their claims of having accomplished deals worth over $1 billion. To begin, buyers have voiced their displeasure over the dealer’s allegedly counterfeit goods. This company has been the target of allegations of harassment and greed.

However, before I get into the many internet concerns about SD Bullion, I would want to bring up a lawsuit that was just filed against this company:

SD Bullion v. Sanchez, Inc. Litigation

For failing to adhere to the Web Content Accessibility Guidelines (WCAG) 2.0 and WCAG 2.1 accessibility requirements, Christian Sanchez took SD Bullion Inc. to federal court in New York in March 2021.

Among Christinan’s many grievances is the fact that many websites do not provide alternate text (alt-text). To ensure that screen-reading software can read alt-text for visually impaired users, it is necessary to provide alt-text with every image on the web.

For captcha prompts, alt-text is also necessary. Hovering over an image brings up a text box, but it doesn’t alter the image’s visuals in any way. The bullion dealer’s website images cannot be described by screen readers due to the absence of alt-text.

Empty links devoid of content are another accessibility problem brought to light in this SD Bullion complaint. Making navigation on the website more difficult for individuals with screen readers, these links conceal the link’s function.

There were duplicate links on their site that all led to the same URL. Users’ navigational frustrations are exacerbated by this. Similarly, there is no alternative wording for the linked photographs on the bullion dealer’s website.

In such instances, the user will not be able to see any information on the link’s purpose on a screen reader.

These problems may seem minor to the average person. One major concern, however, is accessibility. The absence of fundamental accessibility elements constitutes discrimination, given that almost 7.5 million Americans depend on screen readers to use the web to its fullest extent.

The fact that SD Bullion has been around since 2012 should not be overlooked. For over ten years, they could have ensured that their site was accessible to all users. Tyler Wall is unconcerned about making his website accessible to those using screen readers, even if doing so doesn’t require any work.

Reviews from Clients for SD Bullion: Silver Hypothesis!

One popular community-based social networking site is Reddit, where members ask each other questions. 

Among those looking for information about this online bullion dealer, “Is SD Bullion legit Reddit” is a frequently searched phrase.

There must be some conversations going on there, I reasoned.

I would remark that what I found was startling to convey my amazement. It has been discovered that SD Bullion distributes fake silver to its clients.

A query about this bullion dealer on Reddit was about “Fake silver from SD Bullion?” The consumer sent four pictures of the silver coin he purchased to record his transaction with this dealer.

It was evident from the photos that the coin was fastened to a magnet.

Remember that because silver is not a magnetic metal, a magnet will not stick to a silver coin.

The customer had purchased a fake coin from SD Bullion. The worst thing is that they provided the buyer with a discount ticket good for 10% off his next purchase, despite his worries about the coin’s legitimacy. That’s it.

The customer had already spent thousands of dollars on their website, and they didn’t even attempt to offer him a partial refund. It’s possible that they sold the fake coin and exchanged it for an authentic one.

Many expressed their concerns over such a thoughtless mistake.

Many individuals have expressed their displeasure with SD Bullion. It was advised to contact the US Gold Bureau or a nearby bullion dealer.

This implies that the question “Is SD Bullion legit on Reddit?” should not be asked. No, it isn’t accurate.

The precious metal trading community is not the only group dissatisfied with this dealer’s service; customers are not the only ones. I’ve included a few evaluations of SD Bullion that I found online for your convenience so you can learn more about their trading platform.

The consumer has not received the shipment, despite SD Bullion’s promises to the contrary


The reviewer released this complaint to the public on February 22, 2021. Even though the website indicates the cargo has been delivered to someone, they maintain that they have not received anything.

The reviewer should have gotten their delivery on February 21, 2021, based on their February 1, 2021 transaction with SD Bullion. On February 20, 2021, at about 4:19 PM, the reviewer received a message from SDB verifying the delivery of the products.

The reviewer’s Ringer app indicates that no packages have been placed at the door. When they talked with the mail carrier, she denied ever leaving the item at their home or handing it to anybody else.

The reviewer purchased 2.5 grams of Pamp Suisse Lady Fortune, 5 grams of pure gold, and two bars of gold.

They demanded a refund, a replacement, or a credit towards future purchases. However, they added that because they had purchased the items as an investment, they would like to have a replacement.

You may see that SD Bullion often sends out fake items or never delivers anything at all by reading the ratings they have on Google and the BBB.

Excessively Charged the Customer and Refused to Address the Problem


Overcharges are a common theme in customer complaints about SD Bullion. Just like this one.

The critic claims that SDB engages in questionable business activities. The reviewer was charged an additional $40. The vendor charged the reviewer $990 for gold bullion, even though they had attempted to pay $950 for it.

Additionally, they rejected the reviewer’s request to modify this total. A customer service worker only said, “Sorry, we’re not able to assist you further.” Furthermore, the representative flat-out refused to allow them to speak with any manager.

Dealing with this vendor is not recommended. 

Shipped substandard merchandise and refused to accept accountability


The customer recalls buying precious metals from this company, including gold, silver, and platinum. However, there wasn’t enough 4g platinum in the shipment that was sent.

The reviewer contacted SD Bullion’s customer support, who informed them that they must provide evidence of what they did not get to withdraw their video. According to the reviewer, they are worried that SDB took their money. 

Despite not being charged, the customer was subsequently accused of being a fraudster


The reviewer attempted a wire transfer payment for $1,965 worth of gold. Two weeks later, they got a call informing them that the money had never been received and that there would be a cost associated with order cancellation.

They provided SDB with their account and routing information in an attempt to pay with a check. The payment, however, was not successful.

The reviewer received a notification from SDB claiming that they attempted to defraud them by sending an invoice for a cancellation charge of $162.70, even though the cancellation of their payment was not their fault.

In a menacing move, the bullion trader has threatened to escalate the situation to cancelation. The reviewer claims that the transaction’s failure was not their fault and expresses strong disapproval of the company’s handling of the issue.

A cancellation charge of $162.70 was asked to be removed by the company. A large number of BBB-based evaluations of SD Bullion address the same concerns.

SD Bullion neglected to ship the order


SDB did not give the money back for the canceled order.

What Happens If You Refuse an Order? They Get Dangerous.


The business sends a bill for a canceled order.


The bullion dealer requested further information after the reviewer made an order. Complimentarily, they yielded.

The reviewer still hasn’t heard back from the company about their purchase, even after waiting five days, via email. They were made to believe the purchase was canceled since they received a refund.

The reviewer discovered that SD Bullion had taken a week to complete their previous transaction, so they made a second order. Even though the corporation neglected to inform the consumer that their purchase had been verified, they still intended to charge them for both orders.

SD Bullion Is Very Unfair to its customers.


In this case, the customer placed an order on January 31, 2021, but had to place a new order because of wire transfer issues. They believed SDB would have rescinded the previous order in the same manner.

The reviewer made two other credit card transactions that day to avoid the wire transfer related to their first purchase. The orders cost about ten thousand dollars. The reviewer received the things appropriately and the duties were completed.

On April 20, 2021, the reviewer received an invoice informing them of the cancellation. The reviewer is worried that this invoice could be false since it is the only one the firm has issued.

A month and a day after the “must resolve by” date, the invoice was also sent out. The corporation is extorting customers by purposefully being late with a letter that is so important. Note that the invoice did not disappear in the mail. Another indication of such is the fact that they delivered it late on purpose.

The reviewer placed two further purchases after their first purchase was canceled, which the company was supposed to notice.

They offered clients a different product than what was promoted via dishonest advertising.

Two orders were made with SDB by the reviewer. One of the things in their first shipment was tampered with, they say. Even before they had their first order, the reviewers had already ordered their second. It included an alien anniversary coin and two MS-66 silver peace dollars.

On the label of the hand-plastic slabbed casing, one Peace Dollar had the incorrect mark from the Numismatic Guaranty Corporation.

The reviewer said that they checked the SDB ads to make sure they weren’t mistaken.

They were displaying MS-55 Peace Dollars with the unique identifier 3130765-004. However, the reviewer’s 1924 Peace Dollar does not include the San Francisco Mintmark (S). They stress that there can be hundreds of dollars worth of difference between a 1924 and a 1924-S coin.

The reviewer thinks SD Bullion should quit making deceptive claims about their goods.

These weren’t the only things the reviewer had to deal with. After bringing this issue to SD Bullion’s attention, they began requesting the reviewer’s driver’s license to proceed with their second transaction.

Since the bullion dealer neglected to provide the reviewer with a safe means of transmitting the driver’s license copy, it seems that they were attempting to intimidate the customer.

You can’t match the obverse and reverse for NGC coin verification since SD Bullion sold MS-66 Peace Dollars with adhesive sticks on them. In their ads, you won’t see these stickers. 

“Tough Luck,” SD Bullion says when the client receives a different product.

I purchased fifteen Chinese silver pandas, and Michael was anticipating a full mint tray. But fifteen distinct coins were handed to him. Since their pricing was adjusted starting at 15, it was reasonable for them to provide a whole tray, as stated by the reviewer.

Michael believes that he ought to have been given the second product and not the first. He says he’s done business with this seller before and had some bad experiences with their service.

The customer service rep just said that they couldn’t do anything when he brought up the issue. They turned down Michael’s request to give him a tray even though they had one empty. 

Canceled the Order and Placed All the Blame on the Client


According to Andrew, SD Bullion is not the place to buy precious metals. They informed him that they couldn’t deliver the two silver eggs he purchased a few months ago until they were almost due—a full month and a half later.

Only disappointment awaited Andrew as he waited. There was no sight of the silver eagles. They informed him that they were unable to help with his order since he had three days to notify them of a missing shipment.

Andrew, being a typical shopper, was taken aback. He was urged to wait for at least a month and a half, and the firm hadn’t even mentioned a delivery date. Nevertheless, he had just three days to notify the authorities of the misplaced shipment.

He says you should stay clear from SD Bullion since they’ll just steal your money and disappear. After that, they’ll say that their terms and conditions are to fault. 

Credit Card Prices Are Subtly Raised by SD Bullion


After Dane visited the bullion dealer’s website, he was requested to choose a payment method. Without immediately seeing that the price of everything had increased by more than $400, he chose “credit card” as his payment option.

In any case, according to Dane, the website may display a pop-up warning the consumer that the costs have gone higher. He canceled his purchase by calling the firm after seeing the strange adjustment.

However, SDB now wanted to terminate the contract and charge him $100. Even though they hadn’t processed or sent anything, they still wanted a pretty penny. Also, the customer support representative didn’t seem to care that he had complained about it. 

SDB Ignored Damaged Product Delivery and Avoided Liability While Lying to Customers

Fred requested five hundred-ounce RCM silver bars from SDB. Neither of them would “maintain its original sheen and elegance,” as stated in the product description.

The bar’s whole back was stained brown. He expressed his discontent with SD Bullion on this issue by uploading a picture. According to SDB, tarnishing or toning is normal for silver objects, although it does not affect their worth.

The company then removed the term “original sheen and elegance” from its listing of products.

Customer Cancelled Order: Company Threatens Legal Action


Even though SD Bullion has not delivered any services or products, the critic points out that they are threatening to have him sent to collections. From the very beginning, SDB made threats of legal action and threatened to send the reviewer to collections for $10,000.

The pushy behavior of this gold dealer is sharply criticized in several reports that have rated SD gold with the Better Business Bureau. The payment was made by the reviewer using funds in his account. He informed SDB that he was forced to withdraw the funds due to financial difficulties.

He was hit with a $1,000 cancellation fee. In response to his objection, they proposed an interest and legal fee payment of $500 or $1,500.

It only took the reviewer five minutes to place the purchase, but now that he wants to cancel because of money problems, they are demanding $500+ for something he never received.

During the pandemic in August of 2020, the complaint was posted. Since he is an essential employee, he views SD Bullion’s $500 cancellation fee as extortion.

He suggests looking for a local coin shop instead of dealing with such a suspicious corporation.

After an employee-suggested order cancellation, SD Bullion sends collection notifications


The bullion dealer gave this reviewer poor service since they followed the employee’s advice.

He emphasizes the firm’s collection letters and phone calls despite his absence of item receipts.

He adds that SDB lies about customer satisfaction when it intimidates and harasses customers. He never received the stuff demanding excessive amounts of money via collection letters and calls.

The reviewer ended the transaction per staff advice. That worker suggested the reviewer try processing the transactions again.

Reviewer followed employee suggestions and preserved order. The company handed him $6,272.13 and $3,754.02 in collection charges. According to him, the company has never tried to keep clients. No matter their threats and intimidation, the reviewer never tried to cancel the purchase.

SDB said he was difficult to work with, yet they felt uncomfortable when the reviewer asked for an example. According to the company, the “restocking fee” lets them overcharge.

This disappointed the reviewer, who contacted the FTC. They instructed him not to pay SDB from collections. 

SD Bullion Always Excuses Mistakes


The reason for the order’s delay is always explained by SD Bullion, according to Paul. Claiming the money hasn’t been completed or cleared is what they’d say. In addition, you are powerless since they have already taken your money and the most you can hope for is a refund equal to your original payment less the cancellation charge.

Paul adds that this company’s customer support acts appropriately just up to the moment of purchase. They will treat you like a number once they have your money.

After a complaint, SDB sent a damaged mint product and lied


“Sophia states,” SD Metal did not provide her with bullion in pristine shape but rather secondary market metal that was worn and underweight. There is a $80 premium for mint-condition coins over worn ones.

The goods were of low quality, and Sophia paid $80 extra for them. Despite her submission of evidentiary images, SDB chose to disregard them.

Even though Sophia had left her review a month ago, the precious metals dealer still hadn’t responded.

Her evaluation was revised once SDB responded to her concern. Since she had sent them many pictures of the bullion they had sent her via email, she pointed out that they had lied about wanting to get in touch with her.

She asserts that SDB just resolved her Trustpilot problem to seem kind. She sent it a new revision as their response evolved.

Despite the firm’s claims, they never contacted her. They appear concerned about SD Bullion issues, but in reality, they aren’t. 

Poor Customer Service; Only the Billing Address Can Order Products to Be Shipped 


The reviewer had purchased bullion from this seller online because of their affordable costs. It seems that there was improper handling of her order.

The corporation informed her that the postal address would be altered in response to her query. She then received an email asking her to confirm her mailing address, so she called and spoke with someone.

The agent asked her for an abundance of information for verification. The reviewer said that as she is perplexed by such demands, they could cancel her order if there are too many flaws.

The reviewer attempted to speak with management to address the issue since the agent insisted on a 5% cancellation penalty. When the manager called her, they both stated the same thing.

The only thing SD Bullion could not mail the goods was the payment address. This is absurd since a lot of online retailers let users keep their delivery and billing addresses distinct.

The company advised her that she could either have the order sent to her billing address or pay a 5% cancellation fee.

She suggests you should stay away from this company.

Shipping Isn’t Important to This Company Once They Get Payment


Dan says it’s a complete nightmare working with SD Bullion. The two to three weeks it took for items to be delivered made him uncertain about whether he would be at home or work on the days he worked from home every other week.

This week, there was an attempt at delivery while Dan was at work. In the hopes that SDB would help him reroute the package or set up FedEx to hold it at their hub, he attempted to contact them. But SD Bullion was of no service to him at all.

Due to SDB’s unscrupulous actions, it took Dan three days to get his cargo from the FedEx hub. Dan notes in his evaluation’s conclusion that there are plenty of sellers of precious metals.

SD Bullion sold higher-priced coins

Jay had purchased eighty half-dollar barbers with this enterprise. He bought them when they were in stock before the company announced a five-day shipping delay.

Jay placed his order on March 13th, but on March 29th, he wanted to know where it was. SD Bullion replied to him, saying that they were taking care of his transaction right away.

Jay accepted their explanation, but the next day he got a call telling him that there had been an inventory error and his belongings were lost. The company also told him that he wouldn’t be able to buy those items for months.

Jay then demanded his whole money be returned. He said there was no error in the inventory. The company increased the price of his coins by 20% before reselling them to someone else, instead of complying with his request.

Jay has purchased from SD Bullion in the past, but he has no plans to do so now. 

Read These Other Reviews of SD Bullion:

Conclusion 

Investing in SD Bullion is a bad idea. Their lack of professionalism and concern for their consumers is evident. The fact that SD Bullion has over a hundred online complaints shows that the company does not value its consumers’ opinions.

Customers have complained about receiving defective goods, receiving subpar service, or excessive charges. Claims that they sent fake items have also been leveled against them. Regardless, it seems that nobody is giving any thought to these problems.

You should stay away from SD Bullion if you’re looking to buy gold, silver, or platinum. Taking the risk with them is not worth it. 

Leo Bonaventure: A Scammer? (2024)  – Huff Press (huffingtonpress.com)

Leave a Reply

Your email address will not be published.

Previous Story

Health Fraud News: Ron Gutman Case (2024)

Next Story

Fraud News: Swiss Velorem Bank Case (2024)