BGASC is a massive precious metals company that ships all over the US. They have a huge range of products available for low prices. In fact, they pride themselves on having the quickest shipping and the lowest prices in the industry. Thousands of positive customer reviews attest to that.
But is BGASC really as good as it seems? And what exactly do they offer in terms of services? Here's everything you need to know.
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About BGASC
BGASC is a huge dealer of precious metals in the US. They are an official dealer with the PCGS, a coin grading organization. They're also a member of the NGC Collector's Society and the Certified Coin Exchange. They have been designated as a bulk purchaser of non-bullion coins manufactured by the US Mint.
Every single package shipped through BGASC is fully insured while in transit, no matter how big or small the purchase. Over 500,000 orders have been shipped, with a total value in the billions of dollars.
The company is able to fulfill large bulk orders for gold and silver bullion. But they also work with smaller investors who want cheaper products. To this end, they haven't instituted any minimum order size. Many of their customers are first-time precious metals purchasers who are using small amounts of pocket change to get into the industry.
BGASC carries a huge amount of different products including gold, silver, copper, platinum, palladium, and other legal tender. There are even accessories for coin collectors. The "new arrivals" section of the website shows the company's most recent acquisitions.
You can also sell your own precious metals to BGASC if you're looking to liquidate your assets.
JM Bullion Acquisition
Another large company in the industry is called JM Bullion, which is the subsidiary of A-Mark Precious Metals that deals with individual investors. A-Mark Precious Metals is a massive corporation with subsidiaries in every sector of the precious metals market.
JM Bullion agreed to purchase BGASC on August 30, 2022. This was part of A-Mark Precious Metals's long-term goal to acquire and consolidate many competitors in the industry.
BGASC hasn't shut down, though. The company has continued to function as an online retailer with the same policies as before. The only difference is that now JM Bullion is the boss.
This doesn't seem to have affected the company's management or customer satisfaction. Reviews both before and after the acquisition have been largely positive. The only negative feedback has been that occasionally packages will take a while to ship. But BGASC does notify customers if items are on backorder or may take a while to ship before they finalize their purchase.
Selling to BGASC
You can sell your gold and silver assets to BGASC. They buy a huge number of different bullion products including coins, bars, and rounds. On their website, they have a list of the products that they purchase most often. You can look through this list to make sure that your items qualify.
Once you know what you plan to sell, you can give BGASC a call. You'll be given a price quote over the phone, which will then be locked in. If you accept the price, then you will be sent a confirmation email that has instructions for how to ship your items. Keep in mind that you'll need to comply with the company's market loss policy.
The second step is to ship the items. The company mentions that you should put your order confirmation notice inside the package, use a lot of packing material, and tape it well so it doesn't come apart.
When the company receives and processes the shipment, the items will be verified for their condition and authenticity. Payment will subsequently be sent to you through a paper check, bank wire transfer, or electronic check. Electronic checks are free, bank wire transfers have a fee of $25, and paper checks have a fee of $30.
You won't be able to get a price quote without calling the company. But that's fairly typical in the precious metals industry.
Is BGASC Legitimate?
BGASC is a legitimate company, and it’s one of the largest in the United States. It was acquired in 2022 by JM Bullion, which is a subsidiary of A-Mark Precious Metals. Both of those are also legitimate precious metals dealers. A-Mark Precious Metals is a massive corporation with subsidiaries in every part of the precious metals industry. It is publicly traded on the Nasdaq as a Fortune 500 company.
Many people turn to BGASC when they have any kind of precious metals need. There are thousands of customer reviews online, the majority of which are positive. Trustpilot shows over 7,700 reviews with an average rating of 4.8 stars. Shopper Approved shows over 3,300 reviews with an average rating of 4.8 stars.
This indicates that the vast majority of BGASC’s customer base are satisfied with their purchases and service. From that alone, you can be fairly confident that you’ll have a decent consumer experience.
Positive Reviews
Let’s take a look at a few of the recent reviews on Trustpilot to see what customers have to say.
In October of 2023, a customer left a review stating that they wanted to buy gold. They had never bought precious metals before and were wary of being scammed. BGASC had good Trustpilot reviews and a solid reputation in the industry, so they chose the company.
The customer said that they were very impressed by their experience. It was easy to order things right from the eCommerce site. Each cart had a ten-minute price lock from the moment that the items were put inside, so they could adjust their order if the price fluctuated.
A hold was placed on the customer’s card for a couple days, and they were given a confirmation email once it cleared. Another email was sent upon shipment of the package. USPS delivered the package, which was in a discreet container labeled “samples.”
For this customer, they received their items less than two weeks after placing an order. There was no hiccup whatsoever in the process, and they said they’d happily use BGASC again.
Another customer stated that they had been buying regularly from BGASC for years with the small amounts they’d saved up. They said that they always had great customer service. In addition, they had shopped around and added up the totals for the same items from other stores, and BGASC’s pricing was always the lowest.
This customer did mention that sometimes orders ship late. However, they say that they have always been notified upon ordering if the items might take a while to ship.
One customer said that they’d purchased from the company about four times. The products always arrived on time, except for one incident in which the post office rerouted the package. That was quickly resolved, though, and the customer received the rerouted package ahead of schedule.
They said that they were happy that BGASC’s prices are so low because it meant they could buy a bit of gold and silver here and there, rather than making huge purchases all at once.
BBB Profile
BGASC does have a profile on the Better Business Bureau website. However, it raises some questions. For one thing, they are not accredited, nor do they have any rating. The BBB declines to rate businesses when they have “insufficient information.” It’s surprising that the BBB would lack information when BGASC is such a large business.
There are 34 consumer reviews on the BBB website, with an average of 4.41 out of 5 stars. That indicates that most people had positive feedback, but a small handful of customers may have been unhappy. Two official complaints have been filed in the past three years, one of which was filed in the past year.
The customer reviews largely praise the low prices, fast shipping, and helpful customer service. Several people stated that this was their first time buying precious metals, and BGASC made them feel encouraged and comfortable throughout the entire process.
In fact, we had to scroll down to March of 2023 to find any poor reviews. One customer said that shipping took too long and the packaging was poorly done. Another customer said that his package was delayed due to issues with UPS, and BGASC wasn’t very helpful.
Yet another customer stated that their shipment had been delayed for over a month. However, BGASC contested this review, saying that the reviewer’s email was not associated with any existing orders.
One of the official complaints was filed in January of 2023. The customer said that they bought two silver bars online and received their shipping details. The order should have arrived three days later. But there were issues with the package while in transit, causing it to get lost in the mail.
When the customer called BGASC, they were told that the tracking would be monitored. An insurance claim would be issued if necessary. But the customer said that they were not given a refund or any other form of compensation.
The business said that a replacement had been shipped. The customer stated that they didn’t accept this because they wanted a full refund. BGASC explained that a refund had been submitted, but the charge was then disputed by the customer. The bank pulled the funds from BGASC rather than crediting the customer’s card, so a replacement was shipped.
The second complaint said that they had ordered a gold bar, but received a totally empty box. BGASC responded that they had internal security video of the shipment packaging. The gold bar was in the box when it was shipped. The insurance on the package covered the package up until it was signed for by the customer.
Pros & Cons of BGASC
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Final Thoughts
BGASC is an excellent company overall. They are widely known for being one of the most accessible and affordable firms in the industry. In addition to having investment-grade options, they also have smaller precious metals products available for purchase. This makes them appealing to people who have limited savings with which to buy coins.
They were acquired by JM Bullion in 2022, but that doesn’t appear to have negatively affected their business. Now operating as a subsidiary of JM Bullion, they continue to give ideal service and products to thousands of clients.
BGASC does also have a section of their website dedicated to precious metals IRAs. However, they don’t have the most streamlined services available. They provide links to the contact info of their partnered custodians and depository, but they don’t take you through the application process themselves. There are IRA-focused gold dealers that will talk to the custodian on your behalf and streamline the whole process.
But as for smaller individual purchases, BGASC seems like a safe bet. Customers have mentioned that there are sometimes delays in packages, and packages can also occasionally get lost in the mail. But every shipment is insured, and BGASC works hard to keep customers informed of their order status throughout the process.
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