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When you're comparing companies in the precious metals industry, some have been around for decades and some for only a few years. In the US, it has only been legal to own bullion since the 1970s, so our precious metals industry is much smaller than that of Europe!
Beverly Hills Precious Metals first started in 2003, making it one of the longer-running operations in today's modern world. Though the company has been around for ages and has been endorsed by several conservative personalities, it's difficult to find feedback online. In addition, the company lacks positive accreditations or assessments from organizations like the BBB.
So is this actually a good precious metals dealer to work with? Why hasn't there been a lot of online feedback? Are their products and services legit?
STOP! Before we continue with this review, we want you to know how seriously we take your investment. We know our research and information may sway your investment decision, so we want to make extra sure you are investing with the right company!
With this said, we do have a list of our top 5 companies (we have found that at least 1 of these 5 companies fits what 99% of our visitors are looking for and all have great reputations & customer reviews):
See if Beverly Hills Precious Metals made our list this year, or continue with this review below to see if they are possibly the right company for your investment needs.
About Beverly Hills Precious Metals
Beverly Hills Precious Metals operates from its headquarters in California, the same way many popular gold companies do. California is the heart of the Gold Rush, after all. The company was founded on the idea of freedom and patriotism. The founders believe that it's vital to invest in precious metals in order to protect your livelihood and secure your financial independence from big government.
Politics play a big role in how the company conducts itself. In keeping with this, they have received the endorsement of multiple different conservative pundits. For example, they are the top gold company of Michael Flynn, Donald Trump's general. They believe that the US dollar is vulnerable to rapid inflation because of how recklessly the government spends.
The team of managers at the company has more than 30 years of industry experience. They mainly want to connect clients to the silver and gold items that will make them feel confident and secure. The company's website states that there are IRA services available, if you want to roll over some of your retirement into gold.
There is no customer or investment goal that's too small. The company works with everyone from seasoned investors padding their portfolios to hobbyist collectors who just want a couple of coins.
Some key services that the company offers include:
If you do get signed up for an IRA, you will need to work with your custodian directly. They'll take you through the rollover paperwork. Beverly Hills Precious Metals doesn't seem equipped to handle every single part of the paperwork process.
Do you have a precious metals portfolio that you want to sell? Even if you didn't buy the original pieces from Beverly Hills Precious Metals, the company is willing to buy. They have a section of their website that shows a step by step diagram for how to liquidate your holdings.
First, you'll have a free consultation. This can be scheduled through the contact section of the website, or you can simply call the company up. You will then tell the representative what items you have, what condition they're in, and how many you have. You'll be given a price quote for the whole package based around the current spot price.
The company hasn't published any information about how exactly they calculate this number. We don't know the algorithm, and it's been hard to find customer feedback. So it's difficult to say whether they will offer a fair price quote based on the current value of precious metals.
If you do agree upon the price quote, an invoice and order details will be emailed to you. This will include shipping instructions. You must ship the order within 24 hours. After the package arrives and the metals are tested, you'll be sent a payment.
One slightly vexing thing about the website is that there's barely any information about the company's inventory. They haven't published data about what kinds of coins they stock, what they have in stock, or how they calculate their prices. If you want to find out what products are available for sale, you have to call and ask over the phone.
That seems super inconvenient. Even when online stores don't show the price without giving you a phone quote, most at least show which items they have in stock. If you're looking for a specific item, you won't know whether it's available until you call.
Is Beverly Hills Precious Metals a Scam?
Beverly Hills Precious Metals doesn't seem to be a scam. The company has been operating for a full 18 years, which would be difficult to manage if their services were fraudulent. There are reviews from past customers stating that they did in fact receive the products that they ordered.
But even though the company is not a scam, it isn't necessarily the best managed option out there. When you go to their BBB page, they are not accredited or rated. The lack of rating might be because the BBB doesn't have enough information to give a rating, but it might also be because the BBB is waiting to rate the business until they do an investigation.
There aren't very many online reviews, either. There haven't been any complaints with the BBB, which would ordinarily be a good sign, but only two customers have left general reviews. The average rating is 3.5 stars, with one review using 5 stars and one using 2.
The five-star review was from a customer who stated that her experience was fantastic. She said that the company was made up of hard workers who quickly shipped and fulfilled orders, helped them learn about the precious metals industry, and made the process super easy for a pair of beginners.
The two-star review was from a customer who said that the company's practices are questionable. She said that she was left with many open ended questions about where her assets were. There were too many involved partners with regards to where her gold was stored. She was having trouble getting access to her IRA or finding out who had the proper custodianship over it.
This seems like an issue that could have been very easily solved by explaining the difference between a depository, custodian, and gold dealer. But Beverly Hills Precious Metals has never made an effort to respond to this review. There are similarly mixed reviews on websites like Trustlink, though once again, few enough of them to have trouble judging the company.
Pros & Cons of Beverly Hills Precious Metals
Beverly Hills Precious Metals is a precious metals dealer that focuses on helping people purchase and sell their gold. But there are a lot of questions about how the company is managed. They don't seem to have much online feedback from prior customers, and when customers have been disgruntled, they haven't made an effort to respond.
We don't believe that this company is a scam, since they've been in business for so long. they also have some good reviews from their past customers. But there are many other companies that have much more reliable reputations in this industry. We recommend working with one of them instead of rolling the dice regarding what experience you'll have using Beverly Hills.