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Beverly Hills Precious Metal Exchange is a precious metals dealer that has been in the industry for over 30 years, located in Beverly Hills, California.
The company has no catalog available where you can check on the precious metals you can buy or sell but from their website.
They are offering products such as gold, silver, platinum, and other precious metals which can either be held in precious metals IRA or added to client portfolios.
If you need to purchase from the Beverly Hills Precious Metal Exchange, then you must contact their sales executive who advises on portfolios and the inventory.
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Beverly Hills Precious Metals Exchange Company Background
Beverly Hills Precious Metals Exchange was established in 2003 by Andrew Sorchini to help investors buy and sell precious metals such as gold and silver both first time collectors and seasoned investors.
Top on the list of clients is Michael Flynn and Clay Clark.
For about two decades, Beverly Hills Precious Metals Exchange has assisted clients in areas of acquiring precious metals, liquidations, third party storage, and providing informative materials on precious metals.
Beverly Hills Precious Metals Exchange believes in and promotes precious Metals investment as the best way to protect your wealth against the rising inflation rate.
They offer three types of gold which clients can invest in mainly: bullion gold, and rare gold proof gold.
Precious Metals IRA
Precious metals IRAs are self directed retirement accounts that allow individuals to invest in physical gold and other precious metals, unlike the traditional IRAs. The IRA-approved precious metals are gold, silver, platinum, and palladium.
There has been an increase in the number of people who are considering investing in precious metals IRA as part of their retirement plan.
This is because having gold, silver, or other precious metals as an investment protects your wealth by acting as a hedge against economic recession and it also reduces volatility and risk levels since precious metals grow in value as time goes by.
Gold IRA Roll Over
This simply means moving funds from your conventional retirement plan or investment plan such as the 401k into an IRA approved depository.
Once you move the money, your retirement account now becomes a self directed IRA which allows you to now purchase and add the precious metals of your choice to your account.
The rollover procedure is quite simple with no fees since you transfer your existing IRA or 401k to the self directed account.
You have 60 days to roll over your funds upon receiving your retirement plan as per the IRS. You can roll over to another plan of choice or the IRA and you will use the funds to purchase your IRA-approved precious metals.
What Percentage of Your IRA Should You Invest Precious Metals?
Experts recommend that no more than 15% of your retirement funds should be used to purchase precious metals. Investing in moderation is key as the portfolios are diversified to allow you to invest in a variety of assets.
Looking at the value of gold and other precious metals, they have held their value for thousands of years but when considering dividend growth, stocks and other asset classes are other options to consider to grow their retirement funds.
Precious metals have also been less volatile compared to other asset classes and their price may increase or decrease despite being every investor's go-to in times of uncertainty.
The Differences Between a Gold IRA Rollover and a Transfer
A Gold Transfer refers to transactions made from the same type of retirement account. For example from one 401k account to another 401k account while gold IRA refers to the movement of funds from a retirement account to a precious metal IRA.
In the case of a gold IRA rollover, you are hedging against economic uncertainty by changing your investment portfolio to gold bullions.
To make the process of changing your current retirement plan to a gold IRA, you need a reputable company with experts who can help you set up IRA accounts, offer you an account manager who will equip you with information so you can select the right precious metal and also help you decide on the storage.
Why Invest in Precious Metals?
In any shaky and unstable economy, precious metals have proven to be stable, solid and have increased value.
As currencies from around the world weaken, the value of precious metals is steadily rising hence the precious metals are mostly used by investors as a hedge against inflation.
In a nutshell, precious metals such as gold and silver do well even when markets are going down and their prices may tend to go even higher and are free from government or financial institutions' interference but also fall under the strict guidelines of the IRS.
You also get to own precious metals and owning them physically in your name brings satisfaction. You protect yourself against the declining purchasing power of currencies globally.
And if the time comes you need to retire from investing, you can pass over the physical precious metals to your generation. The physical assets are also easy to track and monitor.
If you are looking to invest in a timeless investment, then you should consider precious metals. Gold has been used for trade by the Egyptians thousands of years ago and has retained its value until today.
Some investment options have come and gone but Gold and other precious metals remain unhinged.
Also, if you need to sell your precious metals, you will always find a buyer and they will buy at the current market price rates.
This is different from other investments such as real estate whereby finding a buyer for your house will be determined by several factors such as the crime rate in the area and the selling market price for the neighborhood.
It is very easy to sell your precious metals and get a high return from your investment.
Lastly, the price of gold is independent of other asset classes such as stocks. So if you have a diverse investment portfolio and one product does not do well, you can rely on the precious metals hence lessening the impact of volatility.
Is Beverly Hills Precious Metals Exchange a Scam?
No, Beverly Hills Precious Metals Exchange is not a scam. While the investment firm does not have high ratings, it is endorsed by prominent figures such as Michael Flynn.
There have been no scam accusations or investigations in the 18 years they have been in business. They have also partnered with the GoldStar Trust company as a depository custodian for all your precious metals storage needs.
Gold Star Trust Company is a popular IRA gold storage facility for precious metals such as gold and silver. GoldStar Trust Company charges account opening and management fees, annual maintenance fees, and storage fees.
Beverly Hills Precious Metals is not BBB accredited, most reputable dealers are BBB accredited.
The process of buying and selling gold on the platform is a bit complicated as one has to schedule a consultation with a member of their team who in turns shares with you a price list.
All shipments from Beverly Hills Precious Metals are usually insured which means that you are covered in case of theft or natural occurrence. The company has a flat fee for shipping and insurance for the total purchase made.
Beverly Hills Precious Metals have managed to score a 3.9 rating out of 5 stars from online reviews with their customer service team receiving 5 stars for proper customer education.
Their shipping is also fast after one completes an order and takes anywhere between 3- 15 days to receive the order.
Despite lacking information on the history, management team, product prices, and IRA fees, Beverly Hills Precious Metals is an established company that offers a variety of products such as numismatic, collectibles, and gold IRAs.
So far so good, no evidence can show the company is a scam, they probably need to do a few re-adjustments to the way the information is shared on their website to improve user ratings and build the confidence of investors visiting the website for the first time.
Conclusion
In conclusion, precious metals investors need to do thorough research before buying and selling precious metals.
Some investors have complained of investing their hard earned money or evening retirement savings only to discover the company was not as trustworthy as they first thought.
Here are some of the things to look out for before buying or selling your precious metals:
Find out the company or dealer affiliations. If your dealer is a member of the Professional Numismatists Guild, then you are assured of their legitimacy since they have a code of conduct to uphold or lose their license.
You should be in a position to find out about your dealer's history even by a simple search on Google. If you can not find any information even from their website then it's time to look for another dealer.
Consider checking if the company is BBB Accredited. This simply means checking your dealer's accreditation and rating just for your information as BBB is also strict when it comes to its members' code of conduct.
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I started BMOGAM Viewpoints as a way to compile all my views on investing in one place. I own my home, have some real estate, and own a few stocks like most people, but what really drives my interest in investing is I have a strong love of precious metals, especially gold.
