What is BGASC?
BGASC stands for Buy Gold and Silver Coins. It is an online retailer that specializes in selling a wide range of gold, silver, platinum, and palladium products, including coins, bars, rounds, and bullets. BGASC was founded in 2012 and is based in California, USA. They offer competitive pricing and free shipping on all orders over $50k. BGASC is also known for its excellent customer service and high customer satisfaction ratings.
People Behind BGASC:
BGASC is located at 6125 Luther Lane 474, Dallas, TX 75225. The BBB file for BGASC was opened on October 1, 2013, and the company has been in business for 11 years since it was started on February 7, 2012.
BGASC is a Limited Liability Company (LLC) that may require professional licensing, bonding, or registration, according to the industry in which it operates. Therefore, the BBB encourages customers to check with the appropriate agency to ensure that all requirements are currently being met.
The company’s Vice President of Operations, Thomas Fougerousse, manages BGASC’s business operations. Fougerousse also serves as the primary customer contact. BGASC was incorporated on February 7, 2012, and has been accredited by the BBB since February 4, 2016.
How to Invest in BGASC IRA?
Investing in BGASC IRA requires the following steps:
- Open an IRA account: To invest in BGASC IRA, you need to first open an IRA account with a custodian that allows precious metals investments. You can choose from a traditional IRA, Roth IRA, or a self-directed IRA.
- Fund the IRA account: Once you have opened an IRA account, you need to fund it. You can either transfer funds from an existing IRA account or contribute funds to the account.
- Choose a BGASC IRA product: After funding the IRA account, you need to choose a BGASC IRA product to invest in. BGASC offers a wide range of IRA-eligible precious metals products, including gold and silver coins and bars.
- Purchase the BGASC IRA product: Once you have chosen the BGASC IRA product, you can purchase it through your IRA custodian. BGASC will then ship the product directly to the custodian for safekeeping.
- Monitor your investment: As with any investment, it is important to monitor your BGASC IRA investment regularly to ensure it is performing as expected.
However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.
Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer of your state and choose accordingly.
Also, the list will help you understand what the industry’s best has to offer and what you might miss out on.
BGASC Products:
BGASC offers a wide range of bullion products, including gold, silver, platinum, and palladium coins and bars from around the world.
Some of the products offered by BGASC include:
- American Gold Eagles
- Canadian Gold Maple Leafs
- South African Krugerrands
- Austrian Gold Philharmonics
- Chinese Gold Pandas
- American Silver Eagles
- Canadian Silver Maple Leafs
- Australian Silver Kangaroos
- Mexican Silver Libertads
- American Platinum Eagles
- Canadian Platinum Maple Leafs
- Australian Platinum Kangaroos
- American Palladium Eagles
- Canadian Palladium Maple Leafs
They also offer a selection of rare and collectable coins, as well as supplies for storing and protecting bullion, such as coin capsules, tubes, and storage boxes. BGASC strives to offer competitive pricing on its products and frequently runs promotions and discounts for its customers.
BGASC Fees and Charges:
The company charges various fees and charges depending on the type of product and payment method used. Some of the fees and charges that customers may encounter include:
- Product premiums: These are the extra charges that BGASC adds to the price of a product to cover their costs and make a profit. The premiums vary depending on the type of product, quantity, and market conditions.
- Shipping fees: BGASC offers various shipping options for customers, and the fees vary depending on the shipping method, destination, and order value.
- Payment fees: Depending on the payment method used, BGASC may charge additional fees. For example, credit card payments may incur a convenience fee, while wire transfers may have associated bank fees.
- IRA fees: For customers who choose to invest in gold and silver through an IRA, there may be additional fees charged by the IRA custodian and/or administrator.
- Sales tax: BGASC charges sales tax for orders shipped to certain states where they have a physical presence.
It’s important for customers to carefully review all fees and charges before placing an order with BGASC to avoid any surprises.
BGASC Reviews and Complaints:
- Trustpilot: In Trustpilot based on 7746 customer reviews, the company is verified and has ratings of 4.8 stars out of 5 stars.
Positive Reviews:
According to Brandon Kessler, the product received from Price was of excellent quality and packaged well. However, he had an unpleasant experience while inquiring about the delivery of the product. The person he spoke to was rude and threatened to hang up on him while he was merely explaining that the product appeared to be stuck in the same city for several days. Apart from this encounter, everything else was great, but it left him feeling frustrated and in a negative mood.
According to James, his first order with BGASC arrived earlier than expected. He even mentioned that he had placed an order with a competitor two weeks prior to his BGASC order and received the BGASC order first. He was so satisfied with the prompt service that he has already placed a second order with BGASC.
Pamela Shrader has ordered from BGASC on three or four occasions and has had positive experiences overall. The products arrived in a timely manner, except for one instance when her package was mistakenly rerouted. However, the issue was promptly resolved, and she received her package earlier than the updated schedule.
Pamela also appreciates the flexibility to purchase items in small quantities due to budget constraints. Over the course of a year, she has been able to accumulate a nice and sizable stack of products through slow and steady purchasing.
Negative Reviews:
Sadly, there is a large number of negative reviews.
According to Mike Duffy, he placed an order for a 1 oz Rand Gold Bar but received an empty box. He had signed for the box without realizing that it was empty. When he reported the issue, he was informed that the company’s liability ended with his signature and that there was nothing they could do about it. It seems like the perfect crime.
Bryce Hogans reported that his gold bar arrived dented and the package was cracked. Although he had made purchases from this source before, this was the first time his order had been damaged. He expressed disappointment with the customer service, as they were not helpful at all. The representative he spoke with simply claimed that it was not their fault and refused to provide access to the video of the packaging process. Bryce suspected that they were withholding the video because it would reveal that they were responsible for the damage.
Tom expressed disappointment with his recent purchase from the company. He ordered 10 peace dollars that were advertised as VG-XF, but what he received was some of the worst calls he had ever seen. He had been a loyal customer of the company for years, and their silver had always been of high quality until now. Tom is aware that the company is under new management, and if this is an indication of their future, he has lost trust in them and will not be a customer again.
- Better Business Bureau (BBB): BGASC has NR ratings with 4.1 stars out of 5 stars in their BBB account. A total of 20 customers reviewed them on Better Business Bureau. They have 2 closed complaints in the last 3 years. They are in business for 11 years.
Additional BGASC Reviews:
A customer has reported that they ordered a 1 oz. Gold Bar, but when they received the box, it was empty with no invoice or gold inside. Although the box did not appear to be tampered with, the customer contacted BGASC and spoke with the customer executive. He claimed that there was a video of the order being filled but refused to share it with the customer. The customer is now out $1,830 for a gold bar that turned out to be an empty box.
A customer reported that they purchased two silver bars online from BGASC on December 19 for $82.28. On December 20, they received an email with the shipping details, and upon checking the tracking information, they found that the order was scheduled to arrive on December 23.
However, on December 23, the tracking status was updated to show no arrival date, and the item remained in transit without any further updates. The customer contacted BGASC on December 29 to report the issue, and the representative said that they would monitor the tracking and file an insurance claim if needed.
On January 3, the customer called again and was informed that an insurance claim had been filed. However, the company did not offer any refund or compensation for the delay. The customer now just wants a refund as soon as possible.
- Ripoff Report: BGASC has only 4 reports registered in their Ripoff Report account. The reviews are attached below.
- ShopperApproved: The company has 4.8 stars ratings out of 5 stars in their ShopperApproved account. A total of 2576 customer ratings are there for BGASC. Mostly all the reviews are positive.
The leading providers in the precious metals industry are quite transparent about their leadership and pricing. Check out our top recommended company to find out more.
BGASC Lawsuits
Justia
As a result of numerous customer lawsuits, it appears that BGASC has also faced serious legal consequences. A few of the lawsuits are listed below:
- Andrew Roseman filed a lawsuits against BGASC and three others.
- On August 26, 2021 Amen Mard filed a lawsuits against several companies including BGASC.
Is BGASC Legit? Should You Invest with Them (Buy Gold and Silver Coins)?
No. While this company is impressive, it’s certainly not the best.
BGASC is a legitimate company that has been accredited by BBB and holds an A+ rating. Its Trustpilot rating of 4.8 stars and numerous positive customer reviews are a testament to its legitimacy.
However, the company has received numerous complaints for various reasons as well as the lawsuits can be a huge red flag for potential investors.
Many of the complaints against the company allege that they follow predatory practices.
Surely, it’s not a good sign for any prospective investor.
Furthermore, the company doesn’t share any information about its management team online. Considering how transparency has become one of the biggest trust factors among consumers, this is a huge issue.
Pros:
- Over a decade of experience
- Impressive product selection
Cons:
- Received complaints for fraud
- Lack of transparency
- Clients have made serious allegations against the company
When choosing a precious metals dealer, you should always go with a reputed and reliable provider. To learn about the most reputed gold IRA companies, I recommend checking out my list of top gold IRA providers.
There, you can also find the best precious metals company of your state.
Have you dealt with BGASC? How was your experience? Let me know in the comments.