- Phone : 1 (877) 740 3777
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A top-ranked offshore destination for your gold, silver, or platinum bullion or coins. Backed by one of the most stable and uncorrupt countries in the world, Singapore's BullionStar precious metals vendor is an excellent choice for investors and collectors alike. Self-directed IRA investors can make use of BullionStar's ultra-secure vaulting system, full insurance coverage provided by Marsh on all deposits, and low markups that range from 4 to 18% on premium products. With over $2 billion USD in sales since 2012, clearly they're doing something right!
Pros:
- Excellent 5-star ratings on TrustPilot and other top review sites
- No spread on many gold and silver items
- Huge luxury storefront in Singapore with over $2 billion USD in sales since 2012
- Simple account setup process
- Perfect security track record
- Over 1,000 precious metals items in their catalog
Cons:
- No flat fees (sliding only)
- Markups as high as 18% on select products
- No ratings from the Better Business Bureau or BCA
Beginning in 2012, precious metals have been exempted from goods and services taxes (GST) in the Republic of Singapore. As a result, the small island city-state in Southeast Asia became a global hub for precious metals dealers, exporters, and refiners for companies from all over the globe—including BullionStar, a company founded by Swedish gold and silver experts.
The favorable tax environment in Singapore has given companies like BullionStar a comparative edge over American, British, and Swiss competitors. But does that mean that BullionStar, one of Asia’s leading precious metals vendors, is worth your trust?
In this BullionStar review, we’ll explore the company’s history, founders, flagship bullion center, third party ratings, and their catalog of 1,000+ precious metals bullion and coin products. This way, you can determine for yourself whether the company is worth trusting with your gold, silver, or platinum investments.
Table of Contents
BullionStar Ratings, Reviews, and Certifications (2023)
Below, we’ve listed all the ratings and reviews that we could find online, spanning independent user-generated star ratings to independent ratings agencies.
- Better Business Bureau: [Unrated]
- Business Consumer Alliance: [Unrated]
- Facebook: ⭐⭐⭐⭐⭐ from 1,400+ customer reviews
- TrustPilot: ⭐⭐⭐⭐⭐ from 370+ customer reviews
- TripAdvisor: ⭐⭐⭐⭐⭐ from 200+ customer reviews
- JobStreet: ⭐⭐⭐⭐from 15 employee reviews
- Top10Place: ⭐⭐⭐⭐⭐from 700+ customer reviews
- Google: ⭐⭐⭐⭐⭐ from 2,900+ customer reviews
- ScamAdvisor TrustScore: PERFECT 100/100 company trust profile
Transparent Company Financials: Steady, Long-Term Growth
One of the things we love most about this gold and silver bullion dealer is that they post their financial reports directly on their website. At the time of writing, the most recent BullionStar financial report covers the fiscal year 2021, and can be read in full here.
Overall, the company is doing very well financially and their balance sheet demonstrates that they maintain impressive sales figures year over year. Highlights for 2021 include:
- $334 million in gross revenues
- +37.4% increase in total revenue from FY2020
- Increased insurance limits on vaults from $373 to $596 million
- 34,259 customer buy orders
- Buy orders originating from 106 countries
(Note: Dollar figures have been converted to USD from Singaporean dollars.)
In our books, it’s a huge confidence boost to see BullionStar post their financial reports in the manner of a publicly-traded company. It allows us to verify that the company’s assets are fully insured and that they’re continuing to grow year-over-year.
BullionStar Founders and Company Management
BullionStar was founded in 2009 by two Swedes, Torgny Persson and Joakim Andersson, originally as a website compiling precious metals market information for investors. Shortly after Singapore’s 2012 tax reforms, the website started selling and exporting precious metals out of the country before finally opening its retail storefront location in July 2014.
Co-Founder: Torgny Persson
Torgny Persson started his first precious metals venture in his native Sweden in 2008 under the name Liberty Silver AB, which remains in operation today. He then carried over his precious metals knowledge to his next project, BullionStar.com, which was an commodity market education resource without any retail function.
The modern iteration of BullionStar wasn’t created until 2012 when the company began selling gold and silver bullion out of Singapore under the name BullionStar Pte Ltd.
Under Persson’s leadership, they opened their first retail outlet on New Bridge Road in central Singapore in 2014. Their flagship retail store was later expanded and renovated in 2019. Today, BullionStar has grown into a major multinational, generating over $2 billion in sales revenue over more than 330,000 global orders.
Pictured: Co-founder Torgny Persson (Source)
CEO: Luke Chua
Appointed to the role of Chief Executive Officer (CEO) by the Board of Directors in March 2021, Mr. Luke Chua led the company to a record year in 2021. An avid precious metals collector, Luke Chua previously worked in management consulting before joining BullionStar.
Pictured: CEO Luke Chua during his tenure as COO on Channel News Asia (Source).
CFO: Kevin Mottura
Holding a master’s degree from the Grenoble School of Management, Mr. Kevin Mottura serves as the company’s Chief Financial Officer (CFO) and serves on the Board of Directors. Mottura has a diverse range of industry experience, including a stint as the Group Finance Controller for Southeast Asia at MKS PAMP GROUP.
Co-Founder and CTO: Joakim Andersson
BullionStar’s Chief Technology Officer (CTO) is none other than Joakim Andersson, a senior developer and software architect with years of experience leading teams in the precious metals space. He has worked for the company since 2010, when he helped found the company with the experience he gained as a Senior Software Architect at Betfair.
BullionStar Bullion and Coin Catalog
Below, we’ve listed some of BullionStar’s most popular bullion and coin products available online and through their physical retail store in Singapore.
BullionStar Mint Gold Bars (100 g)
Produced by the LBMA-approved Swiss refiner Argor-Heraeus, this maximally pure gold bar has a sleek appearance and unique engraving. For example, the words “Money since 4,000 B.C.” are etched onto the face side of the bullion bar, alluding to the metal’s history as a medium of exchange and store of value. This one’s a must-have for bullion collectors.
Quick Facts:
- Produced in Switzerland
- .9999 purity
- 44 mm x 26 mm x 4.5 mm
- Manufactured by Argor-Heraeus
- No spread between buy and sell prices
Pictured: BullionStar Mint Gold Bar (100 g). (Source).
Heraeus Silver Bars (1 kg)
The one kilogram Heraeus silver bullion bar is a great addition to any silver bug’s portfolio. With .999 and .9999 fineness denominations, these Hong Kong-minted bars have been a staple in the global silver trade for over a century and a half. These bars are among the most widely recognized in the world, and their classic appearance attests to that.
Quick Facts:
- Made by Heraeus Germany and Heraeus Hong Kong
- Available in .999 and .9999 fineness
- First minted in Hanau, Germany, in 1851
- Among the most well-respected names in the silver trade
Pictured: Heraeus .9999 10-ounce silver bar. (Source).
Valcambi SA Platinum Bars (1 oz)
The Valcambi SA platinum bullion bar is adorned with incredibly rich details that make its front and reverse side appearance truly stunning to look at. On the reverse side, dozens of lined engravings provide an intricate texture that’s ridged to the touch, whereas the face side displays the hallmark details of the bar in addition to the Valcambi logo.
Quick Facts:
- Manufactured by Valcambi SA
- Issued at .995 fineness
- Minted in Switzerland
- Available in weights ranging from 1 ounce to 1 kilogram
- 22 mm x 38 mm x 2 mm
Pictured: Valcambi SA 1-ounce platinum bars. (Source).
Offshore Storage Solutions
At their flagship retail store (dubbed the “Bullion Center”), BullionStar offers an in-house offshore storage solution for customers. According to BullionStar’s website, all assets are protected by seven layers of security, including biometric scanners and motion sensors.
All of BullionStar’s vaulted precious metals products are kept in a tightly guarded facility in the Le Freeport district of Singapore, behind steel bar reinforced concrete and military-grade surveillance technology. In fact, BullionStar’s security protocols match or exceed that of even the best gold storage companies in the United States.
If you decide to vault your precious metals with BullionStar, know that you can withdraw from your account at any time, sell some of your holdings, or have them directly to your home address. However, you should first read up on the tax implications of home storage if you do decide to take possession of your assets.
BullionStar’s insurance partner is Marsh, a U.S.-based leader in insurance broking and risk management. Marsh provides extremely comprehensive insurance coverage for all assets in BullionStar’s possession, including in the case of fidelity or mysterious disappearance. You can read BullionStar’s full insurance certificate here.
Pictured: BullionStar’s current insurance policy courtesy of Marsh. (Source).
BullionStar Offshore Storage Fee Schedule
Below, we’ve listed BullionStar’s current storage fees and associated costs.
- Gold Bullion Products: 0.39% per annum
- Silver & Platinum Bullion Products: 0.59% per annum
- BSP Grams Gold: 0.09% per annum
- BSP Grams Silver & Platinum: 0.19% per annum
- Daily Minimum Gee: SGD 0.19 per storage jurisdiction. The minimum fee applies in case the calculated daily fee is below SGD 0.19.
- BSP Conversion/Withdrawal: FREE
The key price tag is the 0.39% to 0.59% annual storage fee for gold, silver, and platinum-group bullion products. This price range is in keeping with industry standards, which is around 0.06% of each asset’s value per month for vaulting services. Given that now is one of the best times to buy silver and gold in recent years, BullionStar’s fee schedule can help you load up on these assets while market conditions are still favorable.
BullionStar Fees, Markups, and Pricing
In our opinion, BullionStar offers fair pricing on both coin and bullion products.
Take, for example, their bestselling 2023 United Kingdom Silver Britannia, which is a one-ounce silver coin currently listed at $24.93 USD.
At the time of writing (March 1, 2023), the silver spot price is $21.06, which means BullionStar’s Silver Britannia has a markup of about 18.4%. This is within the normal range for precious metals’ markups, which commonly reach as high as 20%.
Gold products are priced even lower. BullionStar’s Perth Mint Gold Bar is currently selling for $1,917.84 in single troy ounce denominations. At the current spot price ($1,843), this represents a much smaller markup of only about 4%.
Regarding shipping, BullionStar ships globally to over 130 countries, including the United States and Canada. BullionStar notes that their shipping via courier is fast and every delivery is fully insured. No pricing data is currently available online for international shipping.
BullionStar Retail Store
BullionStar’s retail store opened in 2014 and has since been renovated and expanded to house a state-of-the-art learning centre and a bullion showroom. The centrepiece of the showroom is a 400-ounce gold bullion bar—one of the heaviest in the world outside of a national mint.
Want to learn more about BullionStar’s official Bullion Center? Take a virtual tour today on their website and see what’s in store. Or, if you prefer to see the Bullion Center up close and personal, visit their storefront location at:
- 45 New Bridge Rd, Singapore 059398
- Contact Phone: 1 (877) 740 3777 (Toll Free)
(Note: If you’re in the area, you can both buy and sell gold jewelry at the Bullion Center.)
Pictured: BullionStar’s bullion showroom. (Source).
Is Singapore a Safe Place to Store Your Gold Offshore?
According to the United Kingdom’s Foreign Ministry, the Republic of Singapore is one of the world’s most politically stable countries. It’s also an economic powerhouse, with the 5th-ranked economy in terms of global competitiveness and 4th worldwide in foreign direct investment.
Singapore has a long history of supporting private property rights in the country, and has a stable and impartial judicial system. Per Transparency International (TI), Singapore is the fifth-least corrupt country on the planet as determined by their annual Corruption Perception Index in 2022. Therefore, the country is a safe and stable destination for your gold and silver assets, whether held independently or within a self-directed IRA or 401(k).
Do We Recommend BullionStar for Offshore Gold Investing?
Yes, BullionStar is an excellent choice for beginner and advanced precious metals investors alike. If you’re interested in buying or selling precious metals such as gold, silver, and platinum in a tax-advantaged jurisdiction, the Singapore-based BullionStar is a terrific option that ranks among the best gold investment companies in the world.
Due to the breadth of their product catalog, their fair pricing (4-18% markups), their longevity (14+ years in business), and their transparent management ethic, we can’t help but rate BullionStar our #2 Best Offshore Storage Locations in 2023 for alternative retirement investors.
Want to see which other companies made the list? Check out our full summary of the five top-ranked offshore gold and silver investment companies for American investors.
- Phone : 1 (877) 740 3777
- URL :
- Global Rating
- Very Good
User Rating
- 0 No reviews yet!
A top-ranked offshore destination for your gold, silver, or platinum bullion or coins. Backed by one of the most stable and uncorrupt countries in the world, Singapore's BullionStar precious metals vendor is an excellent choice for investors and collectors alike. Self-directed IRA investors can make use of BullionStar's ultra-secure vaulting system, full insurance coverage provided by Marsh on all deposits, and low markups that range from 4 to 18% on premium products. With over $2 billion USD in sales since 2012, clearly they're doing something right!
