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When looking to invest in precious metals, you might be considering working with the best online dealers available. BGASC is a well-known precious metals dealer that offers its clients gold and silver coins or bars that you can add to your investment portfolio or use in opening an individual retirement account.
The company has made a name for itself as one of the largest online suppliers of precious metals in the industry. It has also built a great reputation for itself, becoming a trusted gold and silver precious metals dealer and memberships from industry-standard organizations.
If you’re considering purchasing your precious metals from BGASC, our detailed review below offers all you need to know about this company. Let’s take a closer look below.
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Company Background and Information on BGASC
BGASC stands for Buy Gold and Silver Coins, and it is a privately owned company that deals in precious metals like gold, silver, and platinum coins. The company has its headquarters in Calabasas, California, and was founded in 2012. Since then, it has built a great reputation for itself and among online buyers of precious metals.
The BGASC Company offers a wide range of options for gold, silver, and platinum bullion bars and coins, which are also eligible for IRAs. You can also purchase commemorative coins and some special options like pre-1933 US Mint gold coins. Based on its reputation, BGASC is a member of the Certified Coin Exchange, is accredited by the Better Business Bureau, and is also an authorized PCGS dealer.
The company offers seamless and insured shipping processes, reliable banking methods, and fully dependable customer service that you can enjoy. But, BGASC does not allow you to open precious metals IRAs, has a very tight return period, and is limited to shipping within the United States. There is also limited information available on the management behind BGASC.
Pros & Cons of BGASC
Pros
If you’re looking for the reasons why you should consider BGASC, here are some of its advantages:
Cons
BGASC also has some downsides that you need to consider before opening your wallet. These include:
Who is BGASC Best For?
The Buy Gold And Silver Coins Company is best for those that want to buy precious metals and have them delivered to their home or stored in a reliable facility. It is also a good choice for those that want to work with an online precious metals dealer instead of a physical company.
But this company is not good for those that want to invest in a precious metals individual retirement account (IRA) as it does not offer this option. It would only allow you to purchase metals once it receives the funds from your IRA custodian and will ship them to the storage facility of your choice. Also, it does not offer palladium which limits the options available.
Precious Metals Products from BGASC
There is a wide variety of precious metals products for investors looking to buy from BGASC. As the name of the company implies, they mostly have gold and silver coins, but you can also purchase platinum bullion. There are also commemorative coins from past presidential administrations. Although BGASC has IRA-approved gold and silver coins, it would be better to purchase these from a company that will open and manage the IRA for you. If not, it would be a long process.
Some of the gold coins available include Gold American Eagle, Gold Austrian Philharmonic, Gold Britannia, Gold Australian Kangaroo, Great Britain Gold Sovereign, Gold American Buffalo, and Gold Canadian Maple Leaf. As for silver coins, you get access to options like Silver American Eagle, Silver Austrian Philharmonic, Silver Canadian Maple Leaf, and Silver Mexican Libertad.
The platinum coins are limited, but you might find options like Platinum American Eagle and Platinum Canadian Maple Leaf.
BGASC Shipping Terms and Fees
The Buy Gold And Silver Coins Company has lenient and reliable shipping policies, with no hidden fees that you have to worry about. Before, the company provided free shipping to clients that purchased precious metals worth $5,000 or more. But now, you only have to get precious metals that are valued at $199 or more, and you won’t have to pay for shipping.
If the value of your order is less than this, the shipping cost is a flat fee of $7.99. Whether your shipping is free or not, you always get complete insurance until delivery. If your precious metals are worth more than $1,000, you need to sign for it when it arrives.
BGASC states that it ships its orders on the next business day. But the shipping speed is really slow and can be frustrating for some buyers. If you’re in a hurry to get your precious metals from the dealer, you should consider an alternative company. Also, you need to consider the fact that the company is based in California, and the speed can become slower based on where you live.
Storage Facilities
If you don’t want to keep your precious metals in your home, BGASC also partners with some of the best storage providers in the world. You can ask the company to ship your coins to Brinks Global, Texas Bullion Depository, Delaware Depository, and International Depository Services. In the case where you are opening an IRA, the company will also ship your precious metals to your chosen depository once your custodian pays for it.
If you are using Brinks, the company ships precious metals to the Los Angeles Facility. Keep in mind that the cost of the storage services will depend on the value of the precious metals and the depository that you choose. BGASC does not place flat fees for storage on its website.
Available Banking Methods
BGASC offers reliable banking methods that you can depend on, which means that you can choose one that is convenient for you. There are eight available payment methods which include credit or debit cards, PayPal, money orders, personal checks, bank wire transfers, cashier’s checks, ACH/eChecks, and cryptocurrency.
There are no transaction discounts on your debit and credit card and PayPal payments. But, if you are buying precious metals with cryptocurrency, you can receive a 3% discount. Every other payment method offers a 4% cash discount.
Customer Service
When choosing an online precious metals dealer that you want to purchase gold and silver, you need to check if they offer reliable customer service. Fortunately, BGASC is renowned among online buyers for its excellent customer service. The company has a team that can answer any questions or deals with any complaints through email, phone, and social media.
Online users have praised the customer service for being responsive and helpful, but there has also been criticism of the poor communication from the customer service and the slow response. There is an extensive FAQ section on the BGASC website that offers answers to the questions you might have. Rather than contacting customer service, you can read the answers to learn about buying, selling, shipping, and storing precious metals.
Online Reputation
BGASC also has a strong online reputation among precious metals buyers. Most of the online reviews regard it as a reliable company to buy gold and silver. The precious metals dealer is accredited by the Better Business Bureau and has had two complaints closed in the last three years. The complaints were mostly about communication or shipping issues, especially with slow delivery time or the company making a mistake with requests.
BGASC also has a 4.8 rating from TrustPilot based on 7,748 reviews. Most of the negative reviews on TrustPilot are also on slow delivery and poor customer service. There seem to be about five negative reviews on TrustPilot for 2023, with one of them accusing the company of selling them fake gold.
But there are mostly positive reviews for BGASC online as many customers praise them for convenience and competitive pricing. Also, BGASC does its best to reply to reviews and close complaints.
Is BGASC A Scam?
BGASC is not a scam but a legitimate company that deals in precious metals. The company is accredited by the Better Business Bureau with an A+ rating and 4.8 stars from Trustpilot. All of these point to the company being a legitimate one. While there are some negative reviews on the company, this does not mean that it is a scam or running a con.
If you are thinking of buying precious metals from BGASC, you don’t have to worry about it being a scam. Instead, you can worry about the negative reviews that complain about the slow delivery and poor communication from the company.
Alternative Precious Metals Dealers to BGASC
If you’re worried about the negative sides of purchasing your precious metals from BGASC or you want to open an IRA, you should consider working with an alternative. Here are some reliable precious metals companies that allow you to buy and sell these gems and open and manage an IRA.
Augusta Precious Metals (WINNER)
Augusta Precious Metals is a highly experienced precious metals company that allows you to buy and sell gold, silver, platinum, and palladium or open an IRA with one of their custodian partners. The company offers account lifetime support with one-on-one customer service, customer education and helps with any paperwork you might be dealing with.
With Augusta Precious Metals, you can open an IRA or start buying gold, but the minimum amount is $50,000, which is a bit too high for some. Still, it is one of the most reliable precious metals dealers you can find.
#2. Goldco
You can also consider buying precious metals with Goldco. This company offers gold and silver IRAs and physical metals purchases. Although it doesn’t offer platinum and palladium, it is known for its strong buyback program that allows you to sell your precious metals back to them for a great price.
It has a minimum investment amount of $25,000 for IRAs, and it only charges flat annual account service fees, aside from storage and maintenance, which is affordable. You can also choose between segregated and non-segregated storage facilities.
Another great alternative is American Hartford Gold, which was founded in 2015 but has quickly become one of the most popular precious metals dealers. With a minimum investment amount of $5,000 for IRAs and $1,500 for cash purchases, anyone can get started with the company.
American Hartford Gold offers its customers a price match guarantee when they are selling the metals back and waives fees for maintenance, storage, and insurance for the first year that you open a gold IRA. It has an A+ rating from the BBB and mostly positive reviews online. The company responds to every negative feedback and is easy to access.
Final Verdict
With this complete guide, you know what to expect from the Buy Gold And Silver Coins Company. While the company is a reliable one with a wide range of precious metals products, it does not offer IRAs and seems to have some delivery and communication issues.
If you’re looking to buy gold and silver bars, BGASC is a good choice. The company has a great reputation and reliable payment methods. But there is no doubt that there are better precious metals companies out there that can make up for BGASC’s shortcomings.
If you're interested in investing in precious metals to protect your portfolio, it's better to work with a company that cares about doing the best thing for your wealth.
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