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 a silver 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 product shipments in order to keep everything safe while it is being transported. 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 numismatic or commemorative coins, depending on your preference. 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
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 that include IRA-eligible bars, 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?
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 these IRA fees in general:
- 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?
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 a more 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:
- Open a self directed IRA with one of our preferred custodians.
- 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.
- 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 have physical possession of gold within my IRA?
Many people wonder if they are allowed to possess physical gold within an IRA account. This is a legitimate concern because it is illegal.
But if you carefully examine the law, there's nothing stopping you from owning gold in your IRA.
Problem is, most people don’t realize how much they can save by putting gold in an IRA and not keeping it in their home.
It's easy for gold coins to be thrown away, but it's much more difficult to keep them in an IRA. If you decide to keep your gold in your own home, you'll pay taxes on it twice. One for the IRS, and one for your state.
There are two ways to lose your gold: pay taxes twice and keep it in your house. Why would you want it to stay in your home?
You might argue that it is important to know that your gold remains safe in your house. To protect yourself from theft, store your gold somewhere that is more secure.
You shouldn't even leave your gold in your home unless you plan to visit often. Thieves can easily steal your gold if you don't keep it safe.
A better option is to store your gold in an insured vault. This will ensure that your gold is protected against fire, flood, earthquake and robbery.
One advantage of storing your gold safely in a vault is the fact that you don't have to worry too much about property tax. You will have to pay income taxes on any gains from the sale of your gold.
If you prefer not to pay tax on your precious metals, an IRA may be a good option. With an IRA, you won't have to pay income tax even though you earn interest on your gold.
You don't have to pay capital gains taxes on gold. This means that you can cash out the entire value of your investment at any time you like.
And because IRAs fall under federal regulation, you won’t have any problems getting your gold transferred to another institution if you move.
The bottom line is: You can own gold in an IRA. Fear of theft is all that holds you back.
How much should precious metals make up your portfolio?
The best way to avoid inflation is to invest in physical gold. Because you are buying into the future value of precious metals and not the current price, when you invest in them, it is a way to protect yourself from inflation. The value of your investment increases with rising prices.
Any gains you make from investments that you hold onto for at least five year will be tax-free. And if you sell them after this period, you will have to pay capital gains taxes. Visit our website to find out more about buying gold coins.
Which is stronger, 14k or sterling gold?
Sterling silver, which contains 92% pure sterling silver instead of just 24%, is a stronger metal than gold or silver.
Sterling silver is also known by the name “fine silver” because it is made up of a mixture from silver and metals like zinc, copper, and zinc.
The strength of gold is generally very high. It takes great pressure to break it apart. If you drop something on top of a chunk of gold it will shatter into thousands of pieces rather than breaking into two halves.
Silver isn't nearly as strong as either gold or silver. If you dropped an item onto a sheet of silver, it would probably bend and fold without shattering.
Silver is used in jewelry and coins. The price of silver can fluctuate according to supply and demande.
Statistics
- You can only purchase gold bars of at least 99.5% purity. (forbes.com)
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
- Silver must be 99.9% pure • (forbes.com)
- To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
External Links
investopedia.com
en.wikipedia.org
takemetothesite.com
forbes.com
- Gold IRA – Add Sparkle to Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
How To
The Best Precious Metals Ira 2022: Things to Remember
Precious Metals Ira, one of the most preferred investment options among investors, is one. This article will provide information on how to understand the appeal of precious metals ira and make sound investment decisions.
These assets' main appeal is their potential for long-term, sustainable growth. The historical data shows incredible returns for gold prices. Over the past 200+ years, gold prices rose from $20 to almost $1900 an ounce. The S&P 500 Index was only up by 50%.
When economic uncertainty is high, gold can be considered a reliable financial asset. Stock market downturns cause people to sell their stocks and seek safety in gold. Gold is also seen as a hedge against inflation. Many economists believe in inflation. They believe that physical gold can be used to protect your savings against future price rises.
But before buying any precious metal like silver, gold, platinum, or palladium, there are certain things to consider. You must first decide whether you wish to invest in bullion coins or bars. Bullion bars can be bought in large quantities (like 100-ounces) and kept aside until required. Coins are smaller versions of bullion bars, which can then be used to buy small amounts of bullion.
The second is to think about where you intend to store precious metals. Some countries are safer then others. It might make sense to store precious metals in another country if you reside in the US. But if you're planning on storing them in Switzerland, you might want to ask yourself why.
You should also decide whether to invest in precious metals directly or via “precious-metals exchange-traded funds (ETFs). ETFs can be financial instruments that track different commodities' performance, such as gold. You can use them to get exposure without actually owning precious metals.
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By: Learn About Gold
Title: BGASC Reviews: An Investor’s Guide
Sourced From: learnaboutgold.com/review/bgasc-reviews-an-investors-guide/?utm_source=rss&utm_medium=rss&utm_campaign=bgasc-reviews-an-investors-guide
Published Date: Mon, 26 Jun 2023 21:27:37 +0000
