Draft:SD Bullion
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 | |
| Type | Private |
|---|---|
| Industry | Precious metals retail, e-commerce |
| Founded | March 2012 |
| Founders | Tyler Wall |
| Headquarters | , United States |
Area served | United States |
| Key people | Chase Turner (CEO) Tyler Wall (Founder and President) |
| Products | Gold, silver and platinum bullion coins, bars and rounds |
| Services | Bullion buyback, precious-metals IRAs, vault storage (SD Depository) |
| Owner | Tyler Wall |
| Website | sdbullion |
SD Bullion, Inc. is an American online retailer of precious metal bullion. It sells gold, silver and platinum coins, bars and rounds to retail investors, has a buyback program for customers, and offers gold IRAs (precious-metals individual retirement accounts) and vault storage.[1][2] The company was launched in March 2012 in the Toledo, Ohio area as the retail offshoot of the SilverDoctors.com blog, a precious-metals news website, and has been listed six times on the Inc. 5000 ranking of the fastest-growing private companies in the United States.[2][3] During the 2021 silver short squeeze, SD Bullion was one of the major United States dealers that temporarily suspended order processing because of demand, and its chief executive was interviewed on Bloomberg Television about the shortage of physical silver.[4][1]
History
[edit]Origins (2011–2012)
[edit]The company's name is an abbreviation of "Silver Doctors". In 2011, two pharmacists from the University of Toledo area, one of them Tyler Wall, started SilverDoctors.com, a website publishing news and commentary on gold and silver markets for retail investors.[2][5][6] Wall, a Doctor of Pharmacy who had worked as a pharmacy manager for Kroger, and his co-founder were themselves bullion investors and started the retail site because they considered the premiums charged by existing dealers too high.[6]
The retail site SDBullion.com went live in March 2012. In its first years the company took orders by telephone only, and it used the slogan "Nothing Fancy. Just a Telephone and Low Prices."[5] Operations were based in Ottawa Lake, Michigan, just north of Toledo.[7]
Early growth (2013–2019)
[edit]SD Bullion was accredited by the Better Business Bureau in April 2014.[8] In 2017 the company was ranked 177th on the Inc. 5000, Inc. magazine's annual list of the fastest-growing privately held companies in the United States; it has appeared on the list on multiple occasions, including No. 3,424 in 2024.[3]
By 2020, according to the company, it had completed more than US$1 billion in transactions for over 100,000 customers.[9]
Pandemic demand and the 2021 silver squeeze
[edit]Retail demand for physical gold and silver rose sharply during the COVID-19 pandemic: the Silver Institute reported that retail bullion coin sales rose by an estimated 60 percent year on year in the first half of 2020, depleting dealer inventories and lengthening delivery times.[10]
In late January 2021, retail investors organised on Reddit, following the GameStop short squeeze, turned to silver, and demand for physical metal spiked over the weekend of January 30–31. SD Bullion, APMEX, and JM Bullion all reported that they were unable to process new orders until Asian markets opened on the Sunday evening.[4][11] Interviewed on Bloomberg Markets: Asia on the evening of January 31, Wall said that the company's live inventory of physical silver was "almost all gone", that premiums over the spot price on its website had risen to at least 30 percent, that wholesalers had "nonexistent inventory", and that very few customers were selling metal back.[1] Reuters reported that SD Bullion, APMEX and JM Bullion were warning customers of delays in processing silver transactions because of the volume of orders.[12]
Leadership change and recognition (2022–2024)
[edit]The company marked ten years in business in 2022, by which time it reported cumulative sales of about US$3 billion.[6] Wall, who had been chief executive since the company's launch, handed the role to Chase Turner in early 2023 and became founder and president, chairing the company's board.[6][8] Later in 2023, Wall was named a regional winner (Michigan and Northwest Ohio) of the Ernst & Young Entrepreneur Of The Year program.[2]
In June 2023 the trade publication Digital Commerce 360 ranked SD Bullion 96th among the largest online retailers in the United States, and third in its "hobbies" category; in the 2024 edition of the ranking the company was placed 76th.[13][2]
Recent developments (2025–present)
[edit]In October 2025 the company announced that it had been designated an Authorized Purchaser of gold bullion coins by the United States Mint, joining the small group of wholesalers permitted to buy American Gold Eagle and related coins directly from the Mint.[14] The following month, the Royal Canadian Mint launched its first 5-ounce Maple Leaf silver bullion coin, the 2026 "Grand Maple Leaf", in an exclusive worldwide launch with SD Bullion.[15]
By 2026, Inc. and the Better Business Bureau listed the company's headquarters in Fort Worth, Texas.[3][8] According to the company, it had shipped more than two million orders to over 500,000 customers, representing several billion dollars in transactions, since 2012.[2]
Products and services
[edit]Bullion retail
[edit]SD Bullion sells investment-grade gold, silver and platinum in the form of coins, bars and rounds, sourced from sovereign mints such as the United States Mint, the Royal Canadian Mint, the Perth Mint and the South African Mint, private mints such as Scottsdale Mint, and from private refiners.[2][1] Products are priced at a premium over the metal's spot price; the company's stated business model is to keep that premium low and to buy back from customers at a published bid price.[2][6]
Precious-metals IRAs
[edit]The company arranges self-directed precious-metals IRAs in partnership with third-party custodians.[16]
Storage
[edit]SD Bullion operates an affiliated non-bank vault facility, SD Depository, which offers segregated, insured storage for customers' metals, including IRA holdings.[2][16]
Market commentary
[edit]The company publishes market commentary through its blog and a YouTube channel, continuing the news-and-education role of the original blog site, and its executives and analysts are periodically quoted or interviewed by financial media on retail bullion demand.[1][12][2]
Corporate affairs
[edit]Leadership
[edit]| No. | Name | Tenure |
|---|---|---|
| 1 | Tyler Wall (co-founder) | 2012–2023 |
| 2 | Chase Turner | 2023–present |
Ownership and locations
[edit]SD Bullion is privately held; its founder, Tyler Wall, remains its president and owner.[8] The company has operated from Ottawa Lake, Michigan, and has its corporate headquarters in Fort Worth, Texas.[7][8][3]
Reception
[edit]The Better Business Bureau has accredited SD Bullion since 2014 and rates it A+.[8]
See also
[edit]References
[edit]- 1 2 3 4 5 "Silver Demand Has Been Incredible, SD Bullion CEO Says". Bloomberg. February 1, 2021. Retrieved September 23, 2026.
- 1 2 3 4 5 6 7 8 9 10 "About Us". SD Bullion. Retrieved September 23, 2026.
- 1 2 3 4 "SD Bullion – Inc. 5000 company profile". Inc. Retrieved September 23, 2026.
- 1 2 "Silver rush: Dealers overwhelmed by demand for coins, bars". Al Jazeera. Bloomberg. February 1, 2021. Retrieved September 23, 2026.
- 1 2 "Careers". SD Bullion. Retrieved September 23, 2026.
- 1 2 3 4 5 6 "SD Bullion, Inc Names New CEO after $3B in Sales". CEO Today. March 2023. Retrieved September 23, 2026.
- 1 2 "SD Bullion – company details". Trustpilot. Retrieved September 23, 2026.
- 1 2 3 4 5 6 7 "SD Bullion, Inc – BBB Business Profile". Better Business Bureau. Retrieved September 23, 2026.
- ↑ "SD Bullion and Brave Browser". SD Bullion. Retrieved September 23, 2026.
- ↑ "Silver Investment Demand Up by 10 Percent in First Half of 2020" (Press release). The Silver Institute. July 9, 2020. Retrieved September 23, 2026.
- ↑ Godbole, Omkar (February 1, 2021). "SilverSqueeze trends on Twitter as retail sites see high demand for the metal". FXStreet. Retrieved September 23, 2026.
- 1 2 "The real reason behind the silver rally". Axios. February 2021. Retrieved September 23, 2026.
- ↑ "SD Bullion, Inc Named Top 100 Online Retailer" (Press release). SD Bullion via PR Newswire. June 12, 2023. Retrieved September 23, 2026.
- ↑ "SD Bullion Named Authorized Purchaser of U.S. Mint Gold Bullion Coins" (Press release). SD Bullion via PRWeb. October 27, 2025.
- ↑ "SD Bullion and the Royal Canadian Mint Announce Launch of 5 oz Grand Maple Leaf Silver Bullion Coin". CoinWeek. November 10, 2025. Retrieved September 23, 2026.
- 1 2 "SD Bullion Review: A Closer Look at the Bullion Platform". Sophisticated Investor. 2025. Retrieved September 23, 2026.
External links
[edit]Category:Bullion dealers Category:Online retailers of the United States Category:Retail companies established in 2012 Category:2012 establishments in Michigan Category:Privately held companies of the United States Category:Companies based in Fort Worth, Texas