Question: How do I purchase from Beverly Hills Precious Metals Exchange?
Answer: Purchasing precious metals is now easier than ever and can be done in the comfort and privacy of your own home. We offer gold, silver, platinum, and other precious metals. Just give us a call and an Account Executive will discuss your goals, preferences and a comfortable amount for you to purchase with. At that time, they can propose a portfolio which will determine the types of coins that fit your objectives. All that we ask is that you understand that the Account Executive is not a financial advisor. They will simply ask a few questions and point you to the type of numismatic or bullion that might be right for you.
Question: What are the types of physical gold can I acquire?
Answer: There are typically three types of physical gold you can invest in:
- Gold Bullion: Any gold that continues to be minted to this day and has no rarity to it. The price is based purely on the gold content.
- Rare Gold: Any gold coin that is no longer be minted or that is still minted but in low supply. Also known as numismatic or certified gold.
- Proof Gold: Coins specially struck for collectors and special occasions and are not meant for circulation. Proof does not indicate a grade, but rather a designation for coins that have been struck, usually as preproduction samples.
Question: Can I add gold bullion to my IRA?
Answer: Absolutely! It will involve a qualified third party such as a bank to actually hold the coins in a separate IRA account in your name. We are happy to walk you through the paperwork and, if applicable, contact your current IRA institution to expedite processing.
Question: Will it be easy to liquidate my gold and silver when I need to?
Answer: Absolutely. Gold and silver are liquid and universally accepted in just about every major city in the world. We believe that gold and silver provide one with protection by the form of divisibility and control over divisibility.
Question: How long can you hold the price and position of my order?
Answer: All orders placed, no matter how large or small, have a grace period of 48 hours to fund the account. Any orders not funded within 48 hours are subject to a re-adjustment in the price based on the spot price of precious metals. There are exceptions to the 48 hour grace period, so please contact your Account Executive if you fail to meet the desired time period.
Question: Will I be charged a sales tax?
Answer: Within California: Sales tax is not required if you invest $1000 or more for bullion or for purchases for numismatic coins in any amount. Outside California: Sales tax is not required for the purchase of either bullion or numismatic coins purchases. Please Note: We are not tax advisors and encourage you to first contact your accountant to determine your tax liability, if any.
Question: Are there any additional fees on the price I am quoted?
Answer: For all orders there is a flat fee for express shipping and insurance for the total purchase value. There are no other fees.
Question: Do you report my precious metals purchase to the IRS?
Answer: Beverly Hills Precious Metals Exchange is not required to report our sales transactions to the IRS or any other federal, state or local agencies unless you fall under the Form 8300 requirement. Please first contact your accountant to determine your reporting requirements, if any.
Question: Will I have to pay taxes if I sell my bullion for a profit?
Answer: You will have to pay taxes if you hold gold as an investment and later sell it at a profit with either a long-term or short-term taxable gain, just as you would with any other investment.
Question: How do I send payment?
Answer: We offer two payment methods you can use to fund your purchase: bank wire (most common) and check. Please let your Account Executive know if you wish to fund via bank wire so they can notify our financial department of the transaction. (Ask your Account Executive about qualifying orders that waives wire fees). We accept major credit cards as a third payment option, but for only orders up to $5000 USD.
Question: Is there a holding period on cashier’s checks, certified checks and personal checks?
Answer: Yes. We hold all certified checks and cashier’s checks for 1-10 banking days. Personal checks will be held for 5-10 banking days regardless of when they clear prior to shipping. Direct bank wire is always recommended.
Question: How does the shipping process work?
Answer: Once the order is completely funded, your precious metals are sent from our inventory vaults to our shipping vaults under your Trade Ticket. Your precious metals are then sent with a tracking number via e-mail or phone. All shipments require a signature, so please track your order and plan to be there when the package arrives. From the time your order is placed, the process can take anywhere from 3-15 days for the precious metals to arrive in your hand. Once it arrives, we strongly suggest immediate storage of your precious metals.
Question: Does Beverly Hills Precious Metals Exchange offer loans for precious metals (e.g. leveraged accounts) or trading via ETF?
Answer: Beverly Hills Precious Metals Exchange does not offer loans/leveraged accounts or ETFs. We are a dealer of numismatics and bullion. In other words, we are in the business of of getting physical metal into your hands, liquidating your metal for cash, or exchanging metal for metal. If you are interested this service, we suggest that you talk to your certified financial planner.
Question: How should I store my gold?
Answer: Most investors store their Gold locally in either a bank deposit box or a safe inside their home or business. If for any reason you do not wish to be bothered with storing your own Gold or are looking to be actively trading in and out of the market over the phone, we can set up a Gold Storage Account for you.
DISCLAIMER: The information and data presented here are from sources believed to be reliable. Every effort has been made to check for accuracy; however, we cannot guarantee the reliability of facts, figures, or information presented on this site. BHPME, Inc. are not financial advisors and cannot guarantee that past performance can and will guarantee future results. Please conduct your own due diligence before making every purchase.