Last Updated on February 9, 2023 by George
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Located in Beverly Hills, California, Beverly Hills Precious Metal Exchange is a precious metals trader with more than 30 years of experience.
There is no catalog provided by the company where you can look up the precious metals you can purchase or sell; instead, you must visit their website.
They are selling goods like gold, silver, platinum, and other precious metals that can be added to customer portfolios or retained in precious metals IRAs.
You must speak with the sales executive at the Beverly Hills Precious Metal Exchange for advice on portfolios and the inventory if you need to buy there.
Before we get started with this review:
We know how challenging it is to choose a business you can entrust with your hard-earned savings. They create educational and helpful content to provide you with as much information as possible so you can make the best choice.
Andrew Sorchini founded the Beverly Hills Precious Metals Exchange in 2003 to assist novice and experienced investors in purchasing and selling precious metals, including gold and silver.
Michael Flynn and Clay Clark are at the top of the list of clientele.
Beverly Hills Precious Metals Exchange has helped clients with precious metal purchases, liquidations, third-party storage, and providing educational resources on precious metals for about 20 years.
According to Beverly Hills Precious Metals Exchange, investing in precious metals is the most excellent strategy to safeguard your wealth against growing inflation.
Precious Metals IRA
Valuable metals Unlike regular IRAs, self-directed retirement accounts (IRAs) allow investors to purchase actual gold and other precious metals. The precious metals permitted by the IRA include gold, silver, platinum, and palladium.
The number of people considering including a precious metals IRA as part of their retirement plan has increased.
Holding investments in gold, silver, or other precious metals preserves your wealth by serving as a hedge against economic recession and lowers volatility and risk levels because precious metals appreciate over time.
Gold IRA Rollover
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 in Precious Metals?
Experts advise using no more than 15% of your retirement savings to buy precious metals. As the portfolios are diversified to allow you to invest in a range of assets, investing is essential moderately.
When considering dividend growth, equities and other asset classes are alternative possibilities to explore to grow their retirement income. Gold and other precious metals have maintained their value for thousands of years.
The price of precious metals may rise or fall, despite being every investor’s go-to asset in times of ambiguity because they have historically been less volatile than other asset classes.
The Differences Between a Gold IRA Rollover and a Transfer
Transactions from the same category of retirement account are referred to as a “Gold Transfer.” In the case of a gold IRA, money is transferred from a retirement account to a precious metal IRA, as opposed to, say, from one 401(k) account to another 401(k) account.
When you roll over a gold IRA, you are hedging against economic risk by switching your investment mix to gold bullions.
You need a reliable company with professionals to provide you with an account manager that can assist you in setting up your IRA accounts. Choose the appropriate precious metal and help you decide on the storage to make switching from your current retirement plan to a gold IRA as simple as possible.
Why Invest in Precious Metals?
Precious metals have demonstrated that they are reliable and robust and have increased value in any fragile and uncertain economy.
Investors primarily utilize precious metals to hedge against inflation since their value gradually increases as global currencies weaken.
Precious metals like gold and silver perform well even when markets are down, and their prices may even rise. They are also unaffected by government or financial institutions but fall under the IRS’s tight regulations.
Additionally, you can possess precious metals, and having them in your name gives you delight. You defend yourself from the global decline in the purchasing value of currencies.
And when the time comes for you to stop investing, you can leave your generation with the actual precious metals. The tangible assets are equally simple to keep an eye on and follow.
Consider investing in precious metals if you want to make a long-term investment. The Egyptians employed gold in their trade thousands of years ago, which has remained valuable to this day.
Gold and other precious metals are still intact, while other investment opportunities have come and gone.
Additionally, you will always be able to find a buyer who will purchase your precious metals at the going market rates if you need to sell them.
It is different from other assets like real estate, where finding a buyer depends on factors like the local crime rate and the neighborhood’s average selling price.
Last but not least, the cost of gold is unrelated to other asset types like stocks. Therefore, you can rely on precious metals if you have a broad investment portfolio and one product does poorly, reducing volatility’s impact.
Is Beverly Hills Precious Metals Exchange a Scam?
It is not a fraud, according to Beverly Hills Precious Metals Exchange. Even if the investment company has a poor reputation, notable people like Michael Flynn support it.
In the 18 years they have been in business, there have been no claims or investigations into scams. Additionally, they have teamed up with GoldStar Trust as a depository custodian for your precious metals storage requirements.
A well-known IRA gold storage facility for precious metals like gold and silver is Gold Star Trust Company. Account opening, management, yearly, and storage fees are all charged by GoldStar Trust Company.
Although most trustworthy merchants are BBB accredited, Beverly Hills Precious Metals is not.
A consultation with a member of their team is required to purchase or sell gold on the platform; this team member then provides you with a price list.
Most Beverly Hills Precious Metals shipments are insured, so you are protected in the event of theft or a natural disaster. The business charges a fixed cost for shipping and insurance for the entire purchase.
Online reviews have given Beverly Hills Precious Metals a 3.9 out of 5-star rating, with five stars going to their customer care team for providing proper client education.
After placing an order, their shipment is also prompt, taking anything from three to fifteen days to arrive.
Beverly Hills Precious Metals is a reputable organization that provides a range of items such as numismatic, collectibles, and gold IRAs despite needing more information on its history, management team, product costs, and IRA fees.
So far, so good; there is no evidence to suggest that the company is a fraud. However, to increase user ratings and foster investor trust among those visiting the website for the first time, the company may need to tweak the way information is provided on it.
Final Thoughts – Beverly Hills Precious Metals Exchange Review
Finally, investors in precious metals should conduct a rigorous study before purchasing and disposing of precious metals.
Most investors have expressed frustration at having invested their hard-earned money or retirement savings only to learn the organization was a Ponzi scheme.
Before buying or selling your precious metals, keep the following in mind:
Identify the affiliations of the dealer or company. You may trust that your dealer is legitimate if they are a Professional Numismatists Guild member because they are required to abide by a code of conduct or risk losing their license.
A quick Google search should allow you to learn more about your dealer’s past. It’s time to look for a different dealer if you need help locating any information, not even on their website.
Think about finding out if the business is BBB accredited. It merely entails looking out for your dealer’s accreditation and rating, as BBB is equally demanding regarding the code of behavior for its members.