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Midwest Bullion Exchange Review

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Midwest Bullion Exchange, Inc. (www.privatebullion.com) is a full-service precious metals dealer/broker that specializes in the online sale of gold, silver, and platinum. Their website provides a convenient interface in which investors can set up a buying account, purchase precious metals, and track the delivery of their metals. This company provides a wide range of gold and silver bullion coins and bars that are approved to be stored in a precious metals IRA account.

About the Management

Midwest Bullion Exchange was founded in 2009 by the company President/CEO Scott Hage. Clients can receive advice and customer support from the company's Precious Metals Advisers by calling their support number at 1-888-928-3390. This business has been BBB-accredited since 2010.

Midwest Bullion Exchange Ratings and Complaints

Here are some of the most important ratings, reviews, and reports about Midwest Bullion Exchange online:

  • BBB Rating: A+ (Details)
  • BBB Complaints: 0 complaints the last 3 years (Details)
  • BCA: Not Listed
  • BCA Complaints: Not Listed
  • CitySearch: 100% based on 1 review (Details)
  • Google+: No Ratings (Profile)
  • RipOff Report: No Reports
  • SiteJabber: Not Rated (Details)
  • Trustlink: Not Rated (Details)
  • Yellow Pages: 5.0 Stars (5.0 / 5) based on 2 review (Details)
  • Yelp: 5.0 Stars (5.0 / 5) based on 1 reviews (Details)

Midwest Bullion Exchange Prices and Products

Midwest Bullion Exchange sells a diverse selection of gold, silver, and platinum bullion coins and bars in various denominations. They also offer junk bags of “90% silver” coins. They do not offer IRA accounts themselves, but they do refer their customers to an IRA custodian partner – GoldStar Trust Company. The chart below shows the prices of some of Midwest Bullion Exchange's gold coins and bars that are eligible to be stored in an IRA:

Midwest Bullion Price Chart (on September 9th. 2014)

Coin TypePrice
American Gold Eagle 1 oz (backdated)$1,298.07
American Gold Eagle 1 oz 2014 $1,303.70
American Gold Eagle 1/2 oz 2014$673.19
American Gold Eagle 1/4 oz 2014$344.05
American Gold Eagle 1/10 oz 2014$140.45
American Gold Buffalo 1 oz$1,298.70
Canadian Gold Maple Leaf 1 oz (backdated)$1,278.40
Canadian Gold Maple Leaf 1 oz 2014$1,286.40
Canadian Gold Maple Leaf ½ oz$673.19
Canadian Gold Maple Leaf ¼ oz$339.68
Canadian Gold Maple Leaf 1/10 oz$140.45
Austrian Philharmonic 1 oz$1,291.65
Australian Kangaroo 1 oz 2014$1,288.36

If you choose to purchase metals from Midwest Bullion Exchange for the purpose of storing those metals in an IRA, you'll incur the annual fees charged by GoldStar Trust Company, which are illustrated in the following table:

Market Value of AssetsGold Storage FeeSilver Storage FeeExample Scenario
$0 to $99,9990.65%0.65%$325 annual fee to store $50,000 in gold or silver
$100,000 to $499,9990.58%0.60%$600 annual fee to store $100k in silver, $580 annual fee to store $100k in gold
$500,000 to $999,999
0.50%0.52%$2,500 annual fee to store $500k in gold, $2,600 to store $500k in silver
$1,000,000 to $2,999,999
0.48%0.50%$4,800 annual fee to store $1 million in gold, $5,000 to store $1 million in silver
$3,000,000 to $4,999,999
0.45%0.45%$13,500 annual fee to store $3 million in gold or silver
$5,000,000 and over0.42%0.42%$21,000 annual fee to store $5 million in gold or silver

Note that the above pricing is based on a sliding scale fee structure, which means you pay more in fees as you purchase and store more metals. There are many some companies that store precious metals for a low flat rate annual fee regardless of the value of the assets being stored in the account. By opting for an IRA precious metals storage solution that charges a flat rate fee you eliminate the rising costs associated with sliding scale fee structures. 

Midwest Bullion Exchange Contact Details

Key Pages From Midwest Bullion Exchange's Website

Here are a few important pages from PrivateBullion.com:

  • Gold IRA Explains the process of getting started with a precious metals IRA using Midwest Bullion Exchange as your metals dealer/broker. For IRA account setup this page essentially refers you to GoldStar Trust Company – the company's IRA custodian partner.
  • Gold Coins complete catalog of gold coins – currently contains 28 product listings.
  • Gold Bars – complete catalog of gold coins – currently contains 28 product listings.

Always Review the Competition Before You Buy

Selecting the right precious metals dealer and/or IRA custodian is not always an easy or straightforward process, especially when there are more than 70 popular companies to choose from. Be sure to thoroughly examine the online reputation, fee structure, and policies of any company that you're about to deal with. We've made it easy for anyone to compare gold IRA companies by centralizing ratings from various authoritative directories into easy-to-understand reviews just like this one.

If You Own or Represent Midwest Bullion Exchange

If you're an owner or representative of Midwest Bullion Exchange and you've noticed information on this page that is outdated or inaccurate, feel free to contact us. We aim to provide our readers with the most accurate and up-to-date reviews possible on a continual basis.

Midwest Bullion Exchange
  • Editor Rating

  • Rated 3.5 stars
  • Very Good
  • 0/5 Avg. User Rating

  • Rated 0 stars
  • 0 No reviews yet!

  • Quality
    Editor: 85%
  • Customer Support
    Editor: 90%
  • Pricing & Fees
    Editor: 75%

Review Summary:

Midwest Bullion Exchange, Inc. is a full-service precious metals dealer/broker that specializes in the online sale of gold, silver, and platinum. Their website provides a convenient interface in which investors can set up a buying account, purchase precious metals, and track the delivery of their metals. This company provides a wide range of gold and silver bullion coins and bars that are approved to be stored in a precious metals IRA account.

Midwest Bullion Exchange, Inc. is a full-service precious metals dealer/broker that specializes in the online sale of gold, silver, and platinum. Their website provides a convenient interface in which investors can set up a buying account, purchase precious metals, and track the delivery of their metals. This company provides a wide range of gold and silver bullion coins and bars that are approved to be stored in a precious metals IRA account.

Editor rating
Rated 3.5 stars
User rating
Rated 0 stars
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