BGASC (Buy Gold And Silver Coins) Review

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BGASC (Buy Gold and Silver Coins) happens to be a dealer that sells precious metals online. Not only can you get gold bullion, but you can get copper, silver, and platinum too.

You will find them stocking everything from bullion to the pre-1965 United States 90% silver coins or "junk silver." Also, they have pre-1933 United States gold coins, nickels, cents, mint, and other proof sets and coin supplies.

They've been around since 2012. If you check their reputation online, they don't have many complaints whatsoever. 

You will find they sell precious metals directly on their site and on an eBay store. Their eBay store shows a lot of good feedback. They have over 5,000 completed transactions with zero negative feedback. This means that they are a reputable store on the eBay marketplace.

As far as shipping is concerned, they offer free shipping with a $250 purchase. If you place an order under the $250 free shipping tier, they still offer affordable shipping rates. Likewise, their precious metals including their gold bullion are priced competitively.

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Background of BGASC

buy gold and silver coins homepage

BGASC is a company that primarily focuses on offering its clients access to precious metal coins and bars that can be held in gold IRAs. They can also be added to existing portfolios. BGASC has its headquarters located in Calabasas, California.

As mentioned previously, the business was established in 2012.  They offer numerous different products in their catalog. Therefore, you have plenty to choose from based on your preferences.

They offer gold, silver, and platinum coins and bars that can be stored in an IRA. Along with this, they offer pre-1933 United States mint gold and commemorative coins. 

As a company, they are committed to providing their clients with all of the information they need to make informed investment decisions regarding precious metals.

Their company website has a lot of good information including interactive charts that can be used to see the current and historical prices of precious metals.

What Exactly Is a Precious Metal IRA?

A precious metal IRA is self-directed. It's a self-directed retirement account and it allows you to invest in various assets that are deemed unconventional. These assets include precious metals, cryptocurrency, and even real estate. This is different from a convenient IRA.

However, they are very similar outside of this including having the same contribution limits.

These precious metal IRAs are typically the option that people go with who want to diversify their investment portfolio because precious metals have proven to be an effective inflation hedge.

These metals have withstood the test of time and continued to appreciate over the long term. 

Adding precious metals to your retirement account can be a good way to protect yourself from the stock market and economic volatility. It can help you hedge against an event risk or a severe economic downturn.

It also gives you a tax-efficient shelter for any gains that you make during these times.

How Much of Your Retirement Savings Should Be in Precious Metals?

three gold bars and five gold coins

If you do decide to open up a retirement account to invest in precious metals, you're going to want to apply conservative principles.

While it certainly depends on your financial situation, most experts would recommend that you don't invest more than 20% of your retirement funds in any single asset class - including something like precious metals.

An optimized portfolio is diversified. You want to avoid taking on too much risk by investing in only a single asset type or class. You don't want to put all of your eggs in the same basket.

Because of this, no reputable advisor would recommend that you put all of your retirement money into precious metals.

While precious metals like gold, silver, and platinum certainly have an excellent historical track record, that doesn't mean they will forever. They also tend to lag in terms of performance compared to other asset classes like stocks in bull markets.

However, when the stock market is stagnant or decreasing, a lot of investors tend to move their liquidity to more stable asset classes like precious metals as a flight to safety.

What Precious Metals Can You Put into Your Retirement Account?

With a precious metals IRA, you can invest in different metals including gold, silver, platinum, and palladium. However, you cannot put money into any precious metal you want. There are standards the precious metals will need to meet.

This criterion includes:

  • Gold (99.5 percent pure)
  • Silver (99.9 percent pure)
  • Platinum (99.95 percent pure)
  • Palladium (99.95 percent pure)

Some products that you will find meet these criteria include the Canadian Maple leaf coins, PAMP Suisse bars, and even the Australian Koala bullion coins.

You can also invest in American Eagle coins even though they do not officially meet the 99.5% standard normally required for gold. It's not possible to hold collectible or rare coins in your self-directed precious metals IRA.

These include Swiss Francs, German Marks, and British Sovereign coins.

How To Setup a Self-Directed Precious Metals IRA with BGASC

  • Open your self-directed IRA account

You need your self-directed account to be compliant with the IRS. To ensure it is, you'll need it to be managed by an IRA Custodian.

You will want to inform them that you want to open a self-directed IRA for precious metals. You will inform them what dealer you'll be buying from. Your custodian will be able to assist you in choosing the right depository for your precious metals and storage.

  • Fund Your Account

Your next step involves depositing the necessary funds into your account. This process will vary based on whether or not you are rolling an existing one or starting from scratch. Regardless, your custodian can help guide you throughout this process.

  • Purchase Products that are IRA-Approved

Once you have the funds in your account, it's time to purchase the products. You can call BGASC at 1-888-992-4272. From there, you can purchase your desired IRA-approved precious metals. Any IRA transactions will need to be done over the phone.

They will need to meet the minimum purchasing requirement of $30,000.

All of your precious metals will be shipped with full insurance from BGASC directly to your chosen depository. Your IRA Custodian will be notified once they arrive, and they will subsequently notify you.

Shipping Information

When you purchase your precious metals, your order will typically be shipped within 24 hours. At this point, you'll receive your tracking number for the shipment.

They will also provide you with an insurance plan that will guarantee protection for the shipment of precious metals. The insurance is always included for free.

Once you contact the company, you can speak with a knowledgeable professional and they will go over the details of the included insurance. They can also inform you of the value of the shipment and help you track the order.

Frequently Asked Questions

1. How much can I contribute?  

All contributions to a precious metals IRA account will follow the same rules as other IRAs. Therefore, you want to ensure you aren't going over your allotted amount. This is especially true if you are putting money into other retirement accounts at the same time.

2. Can I roll over funds from an existing savings account?

Yes, you can. You can roll over funds from your existing IRA if you want to. These funds can be rolled into your brand-new precious metals IRA without paying any sort of tax penalty.

Your custodian will be able to guide you throughout this entire process to ensure it's done properly. 

3. Can I place precious metals into an established IRA?

No, you cannot. You'll need to remain compliant with the IRS. The only way to do this is by opening a new precious metals IRA beforehand.

From there, you can buy IRA-approved precious metals that will be shipped directly from the dealer to your chosen depository to be stored securely.

4. How are the precious metals stored?  

This will depend on your chosen depository. They can either be stored in non-segregated or segregated storage facilities.

If you opt for segregated storage, it will ensure that the exact precious metals you buy will be stored alone and away from other customers' precious metals. If you opt for non-segregated storage, your metals will be mixed with identical metals from other customers.

You can have your custodian assist you with selecting the best depository and storage solutions for your needs.

5. How do I access my investments when I am ready?

The good thing about opening a precious metals IRA is the fact that you can access them in several ways. When you are ready to "cash out," you can choose to take physical delivery of the metals. However, you could also liquidate your precious metals.

You can do this by selling them back to the dealer you purchased them from. The dealer will typically offer you a competitive buy-back price based on the current market value of the precious metals.

The metals will subsequently be shipped from your depository back to the dealer so you don't have to worry about a thing.

Customer Service

BGASC has a professional team ready and waiting by the phone from Monday to Friday from 7 am to 4 pm PST. You can also email them during the same business hours. You can place your order online on their website at any time.

They note that their customer service team is well informed and skilled to answer any questions you have about the business or the market.

Is Opening a Precious Metals IRA Right for You?

Opening up a precious metals IRA could be a fantastic option if you are looking to diversify your investments. It's a good way to hedge against a bear market and also achieve good growth.

If you had a portfolio with a total of 30 percent allocated to gold and 70 percent to stocks, it grew 60 percent more in the previous 2 decades over one that only invested in stocks.

Because it's always recommended to diversify, it's a good way to allocate your investments to other areas. You don't want to have all of your eggs in the same basket or you increase your risk during economic downturns.

Having tangible and physical assets like precious metals is one of the best ways to effectively diversify your investments.

Conclusion

BGASC is an ok option if you want to purchase precious metals for a precious metals IRA. They not only have competitive prices, but they also have an acceptable reputation with some positive feedback.

They've been in business for long enough to not be worried. They deliver great customer service that is capable of answering all of your questions. No matter which dealer you choose, you want to do your due diligence to ensure they are reputable.

As we said above, BGASC a decent company, they are not a scam, but we do not recommend them.

They are not the best option for cash purchases of gold and silver and certainly not the best option for investors looking to protect their savings with a precious metals IRA.

When it comes to investing in a precious metals IRA you only want to work with the best companies, like the ones we recommend on our Top Recommended Companies list.

If you're interested in defending your wealth with a precious metals IRA, do yourself a favor and pick up a FREE gold investing guide from our top recommendation by clicking the link below.

You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:

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