How to Spot when a Bullion Dealer Is a Scam
Synopsis
Chards Coin and Bullion Dealer are built on trust and integrity. Two aspects which we would expect any bullion dealer to promote and instil in all customers when looking to buy and sell gold and silver.
The rise of online marketplaces and the internet have seen a spate of fraudulent ‘dealers’ encroach on the market looking to take money away from unsuspecting customers.
We highlight one recent company who is raising concerns with investors.
Recent concerns raised about BullionGiant, operated by BG Metals Ltd, demonstrate why buyers should investigate a dealer carefully before transferring money. These concerns do not, by themselves, establish criminal conduct. They do, however, present several warning signs that prudent investors should not ignore.
Why Chards Is Highlighting These Concerns
On May 1st, 2026, Chards received a customer enquiry regarding BullionGiant, and subsequently investigated the firm using their own website, contact details and public information.
The customer enquiry asked if we could price match BullionGiant as they were offering gold below its intrinsic value when using a 5% discount code.
When we reviewed the BullionGiant website, we were met with the above pop-up statement, stating that they were "migrating to a new order management and fulfilment system, alongside expanding our warehouse operations and team." before continuing to advise that orders would not be despatched until August 31st.
Also on offer was "24 months free storage", and a promise that if the gold price drops before your order is dispatched, BullionGiant would "automatically REFUND YOU THE DIFFERENCE, (INCLUDING THE ADDITIONAL 5%)."
As the saying goes, if it sounds too good to be true it probably is, and as such this statement should have raised alarm bells to all who visited their website.
Following this initial review, a member of staff called the phone number listed on the BullionGiant website. In turn they were greeted by someone with an evident lack of knowledge of bullion and precious metals, who, when it was brought up that they were technically selling everything at less than its intrinsic value, responded with disinterest, saying that if that is what the code does then their customers are getting a great deal.
On 20 July 2026, a user named “bricktop” started a discussion on The Silver Forum titled “BullionGiant UK exit scam?” Bricktop questioned an offer on the BullionGiant website offering 1 oz Gold Britannia coins below the prices of established dealers, and queried why any orders placed could not due to be dispatched until a later date. Others on The Silver Forum pondered if the extreme offer would allow BullionGiant to make any money, or if this was too good to be true.
While online discussions should not be accepted as proof on their own, but multiple independent concerns can provide a reason for investors to pause and carry out further checks before placing an order.
Selling at a loss is not necessarily evidence of fraud. A legitimate business might run a limited promotion to gain new customers or liquidate stock. However, a broad discount across an entire range, particularly alongside their promise of deferred dispatch, is a particular cause for concern.
What Do We Know About BG Metals Ltd?
BullionGiant is operated by BG Metals Ltd, company number 07842234. Companies House records show that the company was incorporated on 10 November 2011, in Bristol, and was previously called Handmade and More Ltd. Its latest registered office is Beehive Lofts, Beehive Mill, Jersey Street, Manchester, M4 6JG. This is a shared office block which although does not flag as an immediate concern, it is something to question, especially with the amount of products that BullionGiant supposedly holds "in stock".
Publicly available records show a history of director changes, with multiple changes between 2021 and 2026. The most recent appointment was for Malcolm William Broadhurst as a sole director of BG Metals Ltd. Malcolm Broadhurst is also a director of Watchdog Evasion Ltd, a company incorporated on 16th April 2026 and who state their business activities as 'Accounting and auditing activities' and 'Activities of credit bureaus'. Much like BG Metals, this registered address is a shared office block.
A change in ownership or directorship is not evidence of wrongdoing. However, a sudden change in control can be relevant when investigating the security of an organisation. Multiple directorial changes within a short period of time is another red flag for any investors.
Recent BullionGiant Customer Allegations On Trustpilot
BullionGiant received positive reviews up until April 4th 2026. Two recent 1 star reviews received on August 20th and August 27th 2026 contain serious allegations concerning high-value orders, communication and delayed refunds.
One reviewer alleged that they had raised a fraud case after placing a high-value order and experiencing what they described as stalling tactics.
Another alleged that a refund of £8,336.71 had not reached their account 14 days after a written refund receipt was issued. That reviewer stated that the matter had been reported to their bank’s fraud team, Action Fraud and Trading Standards through Citizens Advice.
These are customer allegations and should not be presented as independently verified facts or regulatory findings.
Trustpilot itself explains that it does not fact-check individual reviews, although it applies systems intended to detect content that breaches its platform rules.
One reviewer alleged that they had raised a fraud case after placing a high-value order and experiencing what they described as stalling tactics. Another alleged that a refund of £8,336.71 had not reached their account 14 days after a written refund receipt was issued. That reviewer stated that the matter had been reported to their bank’s fraud team, Action Fraud and Trading Standards through Citizens Advice.
These are customer allegations and should not be presented as independently verified facts or regulatory findings. Trustpilot itself explains that it does not fact-check individual reviews, although it applies systems intended to detect content that breaches its platform rules.
What Next For BullionGiant Customers?
The original despatch date listed has already passed, with seemingly no deliveries to be seen and the growing negative reviews a great concern for the industry and consumers.
On Friday, 25th August 2026, the pop-up present on the BullionGiant changed to the following:
Before being replaced by a total website lock-out screen:
The next few weeks will hopefully provide answers to the pressing questions of whether BullionGiant has operated legally and in the best interests of its customers.
What To Look Out For In A Bullion Dealer?
Whenever you are interested in buying or selling gold or silver, always research the company before placing any order. The time taken to research a physical business address, a suitable history of the firm, recent customer reviews and any suitable organisational memberships will be worth the peace of mind.
Chards has over 60 years experience buying and selling precious metals, is a Full Member of the LBMA, an official partner of The Royal Mint, and has been verified via over ten thousand customer reviews on Trustpilot. The same can not be said for BullionGiant.
For advice on what to look for in a reputable bullion dealer, check out our guide, How To Choose UK Bullion Dealer.
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