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DBS Coins provide an excellent opportunity for those looking to invest in precious metals while maintaining financial security. Whether you're a small investor or making significant purchases, DBS Coins offers a secure and safe platform to buy or sell gold and silver.
DBS Coins supports individuals in purchasing gold, platinum, silver, and palladium coins or bullion, with the added benefit of integrating these precious metals into their retirement accounts.
Furthermore, DBS Coins offers a buyback service for any precious metal coins or bullion acquired from them or other dealers. Collectors will also find a wide selection of collectible coins within their collection.
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About DBS Coins
Founded in 1968 in Singapore as The Development Bank, DBS Coins is a family-operated bullion and coin distribution company.
While there is not much information about the people who developed the company, David Smoler is listed as the president and founder. Piyush Gupta has been the company's director and CEO since 2009.
When the company began, its purpose was to provide money for Singaporean urban development and companies. In 2003, it changed its name to DBS to show its responsibility as a regional bank and opened more divisions in other countries.
In 2007, it opened its branch in China, making them the initial Singaporean bank to have a branch. In 2014, DBS acquired Societe Generale's private banking business in Hong Kong and Singapore for $220 million.
The company currently has 2300 self-service banking machines and branches in Singapore, 50 branches in Hong Kong, and several branches in ten main Chinese cities.
DBS Coins North American headquarters is currently located in Dana Point, California.
Products and Services
The Silver American Eagle coin was released in 1986 by the United States mint for people to trade with. The coin is made using .999 pure silver, making it among the finest silver coins.
This made it quickly known and liked by people in America and other parts of the globe. The front design resembles the 'Walking Liberty and earlier coins. The back shows the bald eagle with a shield and 13 stars.
The American Gold Buffalo coins reflect the US mint's innovation, respect, and appreciation of the country's history. Initially minted in 2006, the coin is made using 24 karat gold, rendering it the purest gold coin produced by the US mint.
This is the most famous coin minted by the Royal Canadian mint. First minted in 1979, the coin is made using .999 of 24 karat gold. In 2013, the mint improved the security features of their one 0z bullion coins by adding a laser security feature.
First minted in 1990 by the Australian mint, it is made using .9999 of 24 karat or pure gold. The coins feature images and symbols representing Australian structural pride, and they are insured and backed by the Euro.
The 100 Oz. bars are .999 pure and made by various companies, like Johnson Mathey, Asahi, Engelhard, RCM, OPM, Perth, and Sunshine. They have the weight and purity stamped on them.
Gold bars made by the Pamp Mint are .9999 fine. They all have the industry mark, weight, and purity on one side and the Fortuna design on the other.
How to Purchase From DBS Coins
You can buy from DBS via phone call or online order. When ordering, you must make a non-refundable discount to lock your order, and you can pay the balance via bank. If you want to use a check, ensure you contact DBS after checkout.
The forms of check acceptable are bill pay and personal checks. After submitting your order, DBS will email you payment instructions and send you a confirmation email after they process your order.
You will also get an email confirmation after they receive your payment, after which shipping begins.
If you are paying via check, they have a limit of $30,000, a bank wire limit is $80,000, and a credit card or PayPal is $1,500. To make an order of over $80, you have to do it via call.
Storage Options
You can buy your products in the United States and store them in secure vault locations anywhere in the world like Singapore, Los Angeles, New York, Miami, Europe, and Salt Lake City.
To sign up, call them, and they will send you the required paperwork via fax or email.
DBS handles all the shipping processes and fees via UPS and FedEx. Depending on where you want your products stored, they reach the location in one to three business days. They keep all the products in segregated storage under the client's account.
All products in the storage facilities are usually insured up to total value. The company gives its customers private insurance worth $50,000,000 daily for their products.
To store your assets in some countries like Singapore and Europe, they have a minimum storage requirement for different metals, so ensure you check that. Storage costs also differ depending on the metals and location.
How to Set Up a Precious Metal IRA
DBS does not offer IRA services, but they refer you to partner IRA custodians. To set up your IRA:
How to Sell
DBS is among the few companies that buy back precious metal coins or bullion. To sell, contact DBS between Monday and Friday from 6 am to 5 pm PST or over the weekend from 10:30 am to 1 pm PST and let them know what you want to sell.
They buy any quantity, but some bullion products need reporting. The buyback prices differ depending on the products you are selling and their condition.
Once they receive the products, they evaluate them, process your payment, and email you the bank wire or check.
If you want to sell a product and get a different one instead of cash, DBS first locks in a dollar value for the product you sell. They then apply the amount towards credit for the alternative metals you want.
DBS has shipping options and recommended shipping methods for the metals. However, you can also choose your shipping method and insurance.
Pricing
DBS has live spot silver and gold pricing that they update every minute. You can find the prices on the right sidebar or bottom of every page on their website.
There are green and red arrows on the spot prices, indicating the increase or decrease in prices over the past few days.
Locked-in price indicates that you have secured a specific price for the metals you want to buy when you order, mewing it won't be affected by any price changes. However, the price only remains locked for three business days after ordering.
Once you place your goods in the cart, the spot price remains for a minute. When you begin the checkout process, they lock in the price for ten minutes, after which they update to the current spot price.
If you are in California, you will incur an 8% sales tax for all your purchases under $1,500, but there are no additional or hidden charges. There is usually a 2.8% discount on products, but it does not apply if you use a credit card.
If you are in the United States, they could deliver to your domestic address. Otherwise, they only ship to storage facilities or PO Boxes through USPS.
DBS Coins Reviews
On Facebook, they have a 4.5 out of 5 rating from 15 people. Most people say the shopping and shipping experience was excellent and easy. However, a person complained of not receiving their silver order when silver prices were low.
On Gold Dealer Reviews, they have an overall rating of 3.0 from 6 people, a 2.8 rating on shipping time, a 2.8 rating for customer service, and a 3.2 rating for buying experience. Many people say that the pricing is excellent and easy to buy from them.
However, one person says they don't respond fast when you want to sell back, and another said they only received one order. While they are not BBB accredited, they have an A+ rating with no reviews and an AA rating on BCA with no reviews.
Is DBS Coins A Scam?
No. It's a legit company with a range of good services and products. Its legitimacy is backed up by the fact that it is part of different organizations like PCGS, PNG, and NGC.
However, it is not the best in the services and products they offer as a company, reflected mainly by the lack of ratings and reviews on different sites. There are more negative reviews compared to other companies.
DBS coins also limit orders, meaning it's not the best company to make big purchases.
Pros and Cons
Pros
Cons
Conclusion
If you are looking for an affordable place to buy precious metals, this is a acceptable option. It is also appropriate if you want to send your metals to an IRA. However, ensure you read more reviews on the internet and ask for professional advice before purchasing through them.
DBS Coins has an average track record in the precious metals industry, but we do not recommend them.
They are not a scam, but you don't want to work with just any company when choosing precious metals investments, you want to work the the best of the industry.
DBS Coins is not the best choice for gold investments and certainly not IRA's, like other companies we have written about on this website.
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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Or, if you like what you have read about DBS Coins, you can go to there website below:
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.
