Precious metals have been the pinnacle of wealth storage for thousands of years now. Even in the 21st century, metals like gold and silver can protect your assets against both inflation and periods of economic downturn alike.
Take the recent COVID-19 pandemic, for example. Lockdowns and COVID restrictions brought the global economy to a halt. Yet these precious metals managed to come out the other end stronger than ever. This stability is what makes precious metals such a good option for building an IRA (Individual Retirement Account) that will hold its value by the time you actually retire.
The only hurdle that can get between you and a safe precious metal-based retirement fund is the actual process of building the IRA. This is where a company like Beverly Hills Precious Metals comes into play.
From what I’ve seen, not only does it sell precious metals at market-competitive rates for self-directed IRAs, but also provides a storage service for completely hassle-free IRA creation. But, before I give this precious metal dealer my seal of approval, let’s take a closer look at what it has to offer.
Brief Overview
The Beverly Hills Precious Metals company was established in 2010 — making it one of the oldest precious metals IRA companies I’ve reviewed so far. Not only that, but its founder, Andrew Sorchini has been a part of the precious metal business for over 30 years.
This experience is also evident from the company’s near-flawless track record as I did not find any evidence pointing towards bad service or fraud in the past. This track record is also backed by the endorsement of the award-winning author Clay Clark, a notable figure in the world of entrepreneurship.
Another name attached to Beverly Hills Precious Metals is General Michael Flynn, a retired United States Army lieutenant general who also served as the 24th U.S. national security advisor.
Reviews and Ratings
Review Site | Rating | Number of Reviews | Complaints in Past 12 Months |
|---|---|---|---|
Better Business Bureau (BBB) | 3/5 | 5 | 1 (1-star review) |
3.3/5 | 18 | 2 (1-star review) |
The Best Gold IRA Companies in 2024
Before I get started with this review, I want to inform you that I have reviewed dozens of precious metal IRA companies over two decades, and I have curated a list of the top 6 gold IRA companies in 2024. I highly recommend reading this article before proceeding with an IRA transfer.
The #1 Best Gold IRA is Goldco, with its A+ rating from Better Business Bureau, thousands of 5-star reviews, and one of the highest buy-back guarantees. Read my review on Goldco, or visit the official Goldco website to learn more.
What Makes the Company Stand Out?
The customer reviews above might lead you to believe that Beverly Hills Precious Metals is a small-scale operation with a very small customer base. However, that is simply not true as the company mostly operates offline, via phone and mail. Let me explain.
Completely bespoke service
One of the first things I noticed about Beverly Hills Precious Metals is that its website is rather minimalistic. I couldn’t even find a web page listing all of the available options. But, I quickly understood that this is not a hands-off online retailer of precious metals.
Instead, the company provides a completely bespoke service to all of its customers over the phone. Admittedly, this approach is not for folks who want to purchase precious metals as quickly as possible and have them delivered to their home.
That said, this level of customer care and one-on-one service is a godsend for anyone looking to build the right precious metal IRA for themselves. This brings me nicely to the next notable service of Beverly Hills Precious Metals.
Free expert consultation
All you have to do is call Beverly Hills Precious Metals on the numbers published on its website, and the company will assign a personal Account Executive to you. This executive will walk you through the process of building a precious metal IRA and also offer advice on the ideal IRA setup for your needs.
This makes Beverly Hills Precious Metals one of the most suitable precious metal IRA companies for folks who lack knowledge on the subject. I can see this helping many elderly folks transition from a regular IRA to one backed by gold or silver with relative ease.
For the sake of this review, I called the consultation line myself and was pleasantly surprised by the expertise of the Account Executive that was assigned to me. They were polite and patient with my queries and provided detailed explanations regarding the available options.
The whole process of calling the company and getting a bespoke quote also took less time than I had originally expected.
Fair buyback program
In addition to buying precious metals from this company, you can also sell them back. Beverly Hills Precious Metals offers a fairly comprehensive buyback program that allows you to sell the metals in your possession for cash. However, similar to the purchase process, you will have to call the company to make a deal before sending your assets for sale.
Market-competitive rates
Generally speaking, companies that require you to call for any purchase usually have higher rates than the ones that offer direct online retail. Fortunately, Beverly Hills Precious Metals is an exception to this trend. The rates I received during my call were on par with the rest of the market.
In other words, with Beverly Hills Precious Metals, you get a completely bespoke and personalized service without any additional cost.
Variety in payment options
This isn’t as big of a feature compared to what I’ve written above. But, it does make doing business with Beverly Hills Precious Metals a lot more convenient for most people.
To my knowledge, the company supports six different payment methods. These are:
Among these, the last one — IRA transfer — is especially notable. With this option, customers can essentially convert their existing IRAs into a precious metal IRA with little to no hassle. This makes it the ideal choice for the elderly or anyone who set up their IRA before they knew about the stability and benefits of precious metals.
Fees
In most cases, the fees charged by Beverly Hills Precious Metals can vary between customers due to its bespoke service. If you’re interested, calling the company is your best option.
That said, there is one fee that is consistent between customers and that is the storage fee. According to my research, the company has an annual storage fee equal to 0.75% of the current ask value of your precious metals assets. Alternatively, it can also charge a 15 USD flat fee, depending on which is higher.
This fee is calculated and charged twice a year as 0.375% of your assets or 7.50 USD, whichever is higher. The company also sends a detailed account statement with complete billing info every time you pay this fee.
Storage Services
Beverly Hills Precious Metals gives you full control over your purchased metals. On the one hand, you can get them delivered to your address and store them yourself. Alternatively, you can let the company store your assets with an insured third-party depository, which is the better option for IRAs in my opinion.
While you do have almost immediate access to your metals if you store them yourself, you're also taking a massive risk. The last thing you want is to lose your retirement funds during a robbery.
Besides, Beverly Hills Precious Metals allows you to take possession of your metals from the depository, any time you want. However, you will likely have to pay delivery fees when availing this service.
How to Invest with the Company
Out of all the precious metal IRA companies I’ve reviewed, Beverly Hills Precious Metals has one of the simplest investment processes. All you have to do is call the company at its toll-free number, (866) 3GOLD25 or (866) 346-5325. You can also set up an appointment for a later date through the Contact Us page on its website.
Once you’ve chosen the right amount of precious metals for your IRA with the help of its Account Executives, the company will send you a trade number. This number will be valid for 72 hours — binding you and Beverly Hills Precious Metals to a deal at the agreed-upon price.
The only step remaining after that is choosing your payment option and delivery options. Once all is done, your purchased metal will be delivered to your address or the depository depending on the option you chose.
Is It Reliable?
Given my own experience with the company and the general consensus I’ve seen online, yes, Beverly Hills Precious Metals is reliable. As mentioned above, I did not find any evidence pointing toward poor service quality or broken promises to its customers.
Not to mention the fact that the company has been working with numerous clients for about 13 years now. It wouldn’t stay in business for so long if it wasn’t dependable with its precious metal IRA services.
Pros and Cons
Here’s a summary of what I’ve learned about Beverly Hills Precious Metals company:
Pros
Cons
Final Verdict
First things first, Beverly Hills Precious Metals is not the right option for folks looking for quick online purchases of metals. But, if you’re willing to call the company, you’ll experience one of the most bespoke precious metal IRA services I’ve reviewed so far.
That said, make sure to do your own research before investing with Beverly Hills Precious Metals or any other IRA company. I also suggest consulting a financial advisor to make a sturdy retirement plan that’s in line with your financial situation.
FAQs
I did not find any support for international customers on the company’s website. Plus, it also does not accept checks from banks that are outside the US, so it is safe to say that Beverly Hills Precious Metals does not work with investors outside the US.
From what I’ve seen, you can purchase three primary types of physical gold from Beverly Hills Precious Metals. These are bullion gold, rare gold, and proof gold.
In the vast majority of states, you will not have to pay a sales tax for buying bullion or numismatic coins from Beverly Hills Precious Metals. In California, you won’t have to pay sales tax if you purchase 1000 USD or more of gold bullion coins.
In my experience, you should receive your precious metal order from Beverly Hills Precious Metals within 3-15 days of your order. Do note, that an adult signature is required to receive the order.