BGASC Review: An Investor Guide

Buy Gold and Silver Coins claims to be the largest, most reliable, and fastest precious metal coin dealer in the United States. They have thousands of positive reviews from customers. We will explore the reviews and information about the company to help you decide if its gold products or IRA options suit you.

Brief History of BGASC

Buy Gold and Silver Coins began in Calabasas in 2012. From the beginning, the company's goal was to build a gold and sliver online dealer people would want to deal with. What does this mean?

BGASC strives to provide convenience and exceptional customer service in every transaction. The company's priority has been to keep its products in stock at an affordable price and ready for shipping. BGASC, with its convenience, has become one of the biggest precious metal coin dealers within the United States.

Is BGASC Legit?

BGASC, yes, is a legit company. It is accredited by the Better Business Bureau with an A+ rating, is a member in Certified Coin Exchange, is an official PCGS dealer, is a U.S. Mint listed dealer, is a NGC Collectors Society Member, and is a bulk purchaser of U.S. Mint coins that are not bullion. BGASC offers full insurance for all shipments of products to ensure that everything is safe in transit. BGASC's credentials and customer reviews are proof that it delivers products as advertised.

What products do they offer?

BGASC is a company that specializes in precious metals. BGASC reviews are incomplete without a look at its catalogue. You'll also find a variety of fun products on the website.

Gold Products Approved by the IRA

BGASC offers gold bars and coins in sizes of one ounce, one half ounce, one quarter ounce and one tenth ounce. You can choose from a variety of coins, including commemorative, numismatic and bullion. Some of the most popular options to qualify for an IRA include:

  • Gold American Eagles
  • Gold bars
  • Canadian Gold Maple Leaf coins
  • Gold American Buffalos
  • Krugerrands in South Africa
  • Australian Gold Kangaroos
  • Austrian Gold Philharmonics
  • Mexican Gold Coins

Silver Products Approved by the IRA

stack of one ounce fine silver one dollar coin

Silver coins are a great way for new investors to enter the precious metals markets or diversify their portfolios. BGASC has a wide range of silver products from IRA-eligible bars to solid skulls and hand-poured coins. IRA-eligible silver products include the following:

  • American Silver Eagles
  • Canadian Silver Maple Leaf coins
  • Australian Silver Kangaroos
  • South African Silver Krugerrands
  • Austrian Silver Vienna Philharmonics

Platinum Products Approved by the IRA

Palladium and platinum offer unique investment opportunities to investors who want to invest in a precious metal that is critical for sustainability. Like gold, both metals are available at higher prices and can be used with IRAs. BGASC offers a couple of popular IRA approved products, including the Australian Platinum Kangaroo coin and Canadian Palladium Maple Leaf.

Copper Products

Copper products are popular for commemorative or collector items. BGASC has a wide range of copper investment items, such as rounds, bars and bullets. Some of the most popular rounds can be purchased for as low as $2 per coin depending on how much you purchase.

Other Products

BGASC also offers unique products, ranging from rare coins to basic coins that you can invest in.

  • Palladium Products: As previously mentioned, palladium coin works in IRAs. It also has a price that is similar to gold. Palladium products are popular, including the American Palladium Eagle Reverse and palladium bars.
  • BGASC sells legal tender notes like the $2 Year of the Golden Rabbit Hologram Rabbit 2023 Legal Tender Note.

Does BGASC Offer Precious Metals IRAs?

silver nest egg and stack of gold coins

BGASC technically does not offer its own precious-metals IRA custodian service. IRA custodians help you to create an account, transfer funds, fund your account, buy precious metals and more. BGASC has partnered with a number of popular IRA custodians so that you can choose one to create your account.

There are two options for precious metals IRAs:

  • GoldStar Trust Company
  • Equity Trust
  • STRATA Trust Company

BGASC has a preferred depository that will store your precious metals in your IRA. IRS regulations require you to keep your precious metals at an approved depository.

What are the fees associated with using BGASC IRAs

The fees charged by BGASC for the creation and management of a precious-metals IRA are dependent on which custodian is chosen. BGASC doesn't disclose fees because they vary depending on which company you select. You can expect to pay the IRA fees listed below:

  • One-time setup fees
  • Transfer, rollover or wire fees
  • Precious metals delivery fees
  • Annual vaulting fees
  • Annual Account Maintenance Fees
  • Insurance costs

Before making a decision, we recommend that you compare the fees charged by BGASC and other preferred custodians. Calculate your total costs to determine the best option that is most cost-effective for you.

What type of IRA does BGASC prefer?

stacking wooden cubes with checkmark

BGASC doesn't have a preference for a particular type of IRA because you will be creating your account with one of our partners. Your contributions may be affected by the partner's account preferences. Preferences can include the type IRA (traditional versus Roth) or precious metal (gold versus silver).

Can you rollover funds from an existing retirement account to BGASC Precious MetalsIRAs?

Most IRA custodians accept a variety of payment methods to fund your IRA. This includes account rollovers. The custodian transfers funds from previous retirement accounts into your precious metals IRA, so that you can start purchasing gold, palladium, platinum or silver. Rollovers are available for all types of previous accounts, including IRAs.

BGASC will not perform the rollover because it does not have its own IRAs. The company will guide you through the funding options after you select a custodian. Remember that all transactions, such as rollovers and wires, are usually subject to additional fees.

BGASC: Advantages and disadvantages

BGASC has its own advantages and disadvantages. You can make an informed investment decision by weighing the pros and cons. We found that the top benefits of BGASC are:

  • Spend more than $199 and get free shipping
  • All packages are covered by full insurance
  • Payment options
  • BBB accreditation with A+ rating
  • No order minimums
  • A wide selection of coins, including precious metals and other oddities
  • Customer Support Team that is Helpful
  • Shipping is usually done the same day.
  • When you are ready to sell, take advantage of competitive buyback rates
  • Website with live spot prices
  • Member of the Certified Coin Exchange. Official PCGS Dealer. U.S. Mint Lister dealer.

BGASC's outsourced IRA service is its biggest disadvantage. The company does not have its own IRA Custodian, so you can't find out about fees, pricing or management services. To create your account you must contact two vendors, BGASC and the custodian of your choice. This could be a headache.

How to Invest in BGASC

BGASC offers you the opportunity to invest in precious metals by purchasing non-IRA related items on its website and having them delivered directly to your home, or by creating an IRA by following their steps.

You may have difficulty creating an account if the company doesn't offer its own IRAs. BGASC recommends that you follow these steps:

  1. Open a self directed IRA with one of our preferred custodians.
  2. Your account can be funded with simple cash. Your custodian can guide you on the best way to do this. Your custodian will inform BGASC about your contribution total after funding.
  3. BGASC offers IRA-approved metals. IRS regulations require that all IRA transactions be conducted over the telephone. BGASC will ship your items securely to your depository, with delivery insurance included.

We found BGASC to be legitimate based on our research and BGASC reviews, but it does have pros and cons. Learn About Gold wants to help you choose the best gold IRA. If BGASC doesn't suit you, take our Find a Gold IRA partner quiz or ask our Learn About Gold team any questions.

Frequently Asked Questions

Can I keep physical gold in an IRA?

Not only is gold paper currency, but it's also money. People have been using gold for thousands of years to store their wealth and protect it from economic instability and inflation. Today, investors invest in gold as part a diversified portfolio. This is because gold tends do better in financial turmoil.

Today, many Americans invest in precious metals such as gold and silver rather than stocks and bonds. It's not guaranteed that you'll make any money investing gold, but there are several reasons it might be worthwhile to add gold to retirement funds.

One reason is that gold has historically performed better than other assets during periods of financial panic. The S&P 500 dropped 21 percent in the same time period, while gold prices rose by nearly 100 percent between August 2011-early 2013. During turbulent market conditions gold was one of few assets that outperformed stock prices.

Another benefit to investing in gold? It has virtually zero counterparty exposure. Your shares will still be yours even if your stock portfolio drops. You can still own your gold even if the company where you invested fails to pay its debt.

Gold provides liquidity. This means that you can sell gold anytime, regardless of whether or not another buyer is available. Gold is liquid and therefore it makes sense to purchase small amounts. This allows for you to benefit from the short-term fluctuations of the gold market.

Should you open a Precious Metal IRA

You should be aware that precious metals cannot be covered by insurance. You cannot recover any money you have invested. This includes investments that have been damaged by fire, flooding, theft, and so on.

Protect yourself against this type of loss by investing in physical gold or silver coins. These items have been around for thousands of years and represent real value that cannot be lost. If you were to offer them for sale today, they would likely fetch you more than you paid when you bought them.

Choose a reputable company with competitive rates and quality products if you are looking to open an IRA. You should also consider using a third party custodian to protect your assets and give you access at any time.

Remember that you will not see any returns unless you are retired if you open an Account. Remember the future.

What precious metal should I invest in?

The answer to this question depends on how much risk you are willing to take and what type of return you want. Although gold has traditionally been considered a safe investment choice, it may not be the most profitable. If you are looking for quick profits, gold might not be the right investment. If patience and time are your priorities, silver is the best investment.

If you don’t want to be rich fast, gold might be the right choice. If you are looking for a long-term investment that will provide steady returns, silver may be a better choice.

How much should precious metals be included in your portfolio?

To answer this question, we must first understand what precious metals are. Precious Metals are elements that have a very high relative value to other commodities. This makes them extremely valuable for trading and investing. Today, gold is the most commonly traded precious metal.

But, there are other types of precious metals available, including platinum and silver. The price of gold tends to fluctuate but generally stays at a reasonably stable level during periods of economic turmoil. It is also not affected by inflation and depression.

As a general rule, the prices for all precious metals tend to increase with the overall market. They do not always move in the same direction. When the economy is in trouble, for example, gold prices tend to rise while other precious metals fall. Investors are more likely to expect lower interest rates making bonds less attractive investments.

Contrary to this, when the economy performs well, the opposite happens. Investors want safe assets such Treasury Bonds and are less inclined to demand precious metals. Since these are scarce, they become more expensive and decrease in value.

You must therefore diversify your investments in precious metals to reap the maximum profits. You should also diversify because precious metal prices can fluctuate and it is better to invest in multiple types of precious metals than in one.

What are the pros & cons of a Gold IRA?

An Individual Retirement account (IRA) is a better option than regular savings accounts in that interest earned is exempted from tax. An IRA is a good choice for those who want a way to save some money but don’t want the tax. But, this type of investment comes with its own set of disadvantages.

You could lose all of your accumulated money if you take out too much from your IRA. The IRS may prohibit you from withdrawing funds from your IRA before you are 59 1/2 years of age. If you do decide to withdraw funds from your IRA, you'll likely need to pay a penalty fee.

The downside is that managing your IRA requires fees. Many banks charge between 0.5%-2.0% per year. Other providers may charge monthly management fees, ranging between $10 and $50.

Insurance will be required if you would like to keep your cash out of banks. Most insurers require you to own a minimum amount of gold before making a claim. Some insurers may require you to have insurance that covers losses up $500,000.

If you decide to open a gold IRA, it is important to know how much you can use. Some providers limit how many ounces you can keep. Some providers allow you to choose your weight.

You'll also need to decide whether to buy physical gold or futures contracts. The price of physical gold is higher than that of gold futures. Futures contracts allow you to buy gold with more flexibility. They allow you to set up a contract with a specific expiration date.

Also, you will need to decide on the type of insurance coverage you would like. The standard policy does NOT include theft protection and loss due to fire or flood. It does provide coverage for damage from natural disasters, however. If you live near a high-risk region, you might want to consider additional coverage.

Apart from insurance, you should consider the costs of storing your precious metals. Insurance doesn't cover storage costs. Banks charge between $25 and $40 per month for safekeeping.

To open a IRA in gold, you will need to first speak with a qualified custodian. A custodian is responsible for keeping track of your investments. They also ensure that you adhere to federal regulations. Custodians can't sell assets. Instead, they must keep your assets for as long you request.

After you have decided on the type of IRA that best suits you, you will need to complete paperwork detailing your goals. You must include information about what investments you would like to make (e.g. stocks, bonds and mutual funds). It is also important to specify how much money you will invest each month.

After filling in the forms, please send them to the provider. The company will review your application and send you a confirmation letter.

Consider consulting a financial advisor when opening a golden IRA. Financial planners have extensive knowledge in investing and can help determine the best type of IRA to suit your needs. They can also help reduce your costs by suggesting cheaper options for purchasing insurance.

How is gold taxed by Roth IRA?

Investment accounts are subject to tax based only on their current value and not the amount you originally paid. If you invest $1,000 into a mutual fund, stock, or other investment account, then any gains are subjected tax.

The money can be withdrawn tax-free if it's deposited in a traditional IRA (or 401(k)). Dividends and capital gains are exempt from tax. Capital gains only apply to investments more than one years old.

Each state has its own rules regarding these accounts. Maryland requires that you withdraw funds within 60 business days after reaching the age of 59 1/2. Massachusetts allows you to wait until April 1. New York offers a waiting period of up to 70 1/2 years. To avoid any penalties, plan your retirement savings and take your distributions as early as possible.

What is the tax on gold in an IRA

The tax on the sale of gold is based on its fair market value when sold. You don't pay taxes when you buy gold. It isn't considered income. If you sell it later, you'll have a taxable gain if the price goes up.

Loans can be secured with gold. Lenders seek to get the best return when you borrow against your assets. This usually involves selling your gold. This is not always possible. They might keep it. They might decide to sell it. Either way, you lose potential profit.

To avoid losing money, only lend against gold if you intend to use it for collateral. It is better to leave it alone.


  • If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (
  • You can only purchase gold bars at least 99.5% purity. (
  • This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (
  • Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (
  • (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (

External Links

How To

Three ways to invest in gold for retirement

It is crucial to understand how you can incorporate gold into your retirement plans. You can invest in gold through your 401(k), if you have one at work. You might also consider investing in gold outside your workplace. One example is opening a custodial accounts at Fidelity Investments if an IRA (Individual Retirement Account), if you already own one. If you don't have any precious metals yet, you might want to buy them from a reputable dealer.

These are the rules for gold investing:

  1. Buy Gold with Cash – Avoid using credit cards or borrowing money to fund investments. Instead, put cash into your accounts. This will help protect you against inflation and keep your purchasing power high.
  2. Physical Gold Coins to Own – Physical gold coin ownership is better than having a paper certificate. Physical gold coins are easier to sell than certificates. You don't have to store physical gold coins.
  3. Diversify Your Portfolio. – Do not put all your eggs into one basket. This means that you should diversify your wealth by investing in different assets. This helps reduce risk and gives you more flexibility during market volatility.


By: Learn About Gold
Title: BGASC Reviews: An Investor’s Guide
Sourced From:
Published Date: Mon, 26 Jun 2023 21:27:37 +0000

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