The Buy Decision

Decide how much you want to invest. This should be an approximate amount only. The price of precious metals fluctuates and will vary from day to day, and sometimes can change in minutes. (If you want to discuss your individual situation and get a suggestion or two from us as to the amount you want to commit, just call.)

Decide what type of precious metals you’d like to purchase. We have all the popular types and can get most less popular mintages, too. (The most often purchased gold coins are the American Gold Eagle, The Canadian Maple Leaf and the South African Krugerrand. For silver, most often purchased include the $1,000 bag of “junk” silver and the American Silver Eagle.) As always, our people are a phone call away to help you with these details. We’ve been in and around the business for thirty years.

Call us for a current price. We’ll quote you an estimated price based on the spot price of gold/silver. We’ll help you construct your purchase. Here’s an example of a $20,000 precious metals investment, based on gold at $440.20 per ounce spot price and silver at $7.24.

Coin	Price	Number	Total
American Gold Eagles-1 Ounce	$466.45	10	$4,664.50
American Gold Eagles – ½ Ounce	238.33	15	3,574.95
Canadian Maple Leaf gold-1 Ounce	462.88	10	4,628.80
$1,000 - 90% “junk” Silver bags	5,301.81	1	5,301.81
American Silver Eagles	8.82	207	1,825.74
Total Invested			$19,995.80

Make your buy decision. If you want to think about it, change the product mix, consult a spouse, whatever – please do. Keep in mind that the price is as of the time it was quoted and probably will be slightly different, either way, when you decide. If you do want to buy the package – or another – tell us and we’ll tell you we need to lock your price. At that time, we’ll ask you to wait briefly while we contact a floor trader. We may do this with you on the phone or, if we are particularly busy, we’ll ask that we be allowed to call you right back. In such a case, we’re usually back within minutes. We’ll tell you that we’ve “locked” the price as we discussed.

Payment Options

There are several payment options available, depending on your preference, availability of funds and client status. These include:

Your personal check. We will always accept your personal check. Product is shipped within two business days of our receipt of collected funds

Bank Cashier’s Check. If drawn on a US bank, we will ship within two business days of receipt of a verified bank cashier’s check or equivalent.

Bank wire transfer. We ship within two business days of receipt of a bank wire to our business account.

Third party checks. At the present time, with the exception of financial institution checks made payable to the purchaser and endoresed to BEI, we cannot accept third party checks.

Credit cards. Because margins are so thin on precious metals, credit cards cannot be accepted. The fee charged by the bank usually consumes more than the entire mark-up in precious metals product.

Cash payment. Normally, we do not accept any cash payments for product. We may do so with proper identification. If we do, we will complete and file an IRS required CTR form.

Pay immediately. We require that you remit full payment in any one of the ways mentioned by the next business day. This is because we’ve acquired the product from a wholesaler or another source and are commited to the “locked” price.

Delivery and Shipment Options

Generally, all product is shipped by U.S. Registered mail to any address within the United States or its territories. Occasionally, with particularly large orders, we will use armored trucks or other methods. We absorb shipping costs for registered mail. However costs for shipping and insurance for non registered mail shipment is at client expense.

Receipt of registered mail shipments is usually within five business days of shipment. 

Personal delivery to clients at our offices is generally not available since we do not keep any product on hand. Security and insurance costs for such practices are prohibitively high. However, we may be able to arrange for you to take personal delivery at our vault locations in Los Angeles if desired.

Gold coin is shipped in plain, wrapped boxes from Brinks vaults in Los Angeles, California. In addition to the shipping address you provide, only our BEI of Oregon return address will appear on the box.

Small amounts of silver are usually shipped in the same manner as gold. However, “junk” silver bags, 100 ounce silver bars and larger amounts of other silver bullion coin are usually shipped in buckets. Postal regulations do not permit the shipment of more than 55 pounds in any one package.

Documentation

Almost all of the documentation of precious metal transactions are done via attachments to e-mail. Invoices and confirmations for purchase transactions are generated and attached to e-mail via Acrobat Reader files. If your computer does not have the Acrobat Reader Program, you can download it from the internet free.

In the event you do not have access to or wish to use e-mail, we will send invoices and confirmations via regular postal mail. However, payment must then be made without an invoice. Be sure to mark your trade number on your check or include it with the bank wire instructions.

How To Sell Gold and Silver

The Sell Decision

Decide what to sell. To sell your gold and silver, first decide exactly which gold and silver you wish to sell. Pricing is key, of course. Obtain current spot prices from the BEI website to help you how much to sell.

Obtain a quote. Call BEI to obtain an exact quote. If you wish, call other dealers for a comparison. Be sure they are reputable. Remember to ask key questions about the detail of how you are to get product to them and how and when you are to be paid. As always, remember to compare the price quoted with the spot price at the time of the quote. Compare the percentage difference between spot and the quote the competitive dealer gives you with the percentage difference from BEI.

Confirm your sale. If you decide to sell to BEI, ask us to give you a lock price and then confirm that price, product and quantity to be sold. BEI will provide you with a confirmation number which means you have sold the agreed on product at the agreed on price.

Delivery and Shipment Options

Ship your product. BEI will provide you with a purchase order, packing slip and directions all by e-mail. If you do not have access to e-mail, we will instruct you verbally – by telephone - on how to proceed. We can also fax the purchase order and packing slip to you. If faxing is not available, a purchase order will be sent by mail, but your sold product must be shipped within one business day of the lock in any case.

Use registered mail. Package and mail your product by US registered mail to the address provided in your instructions. Be sure to include the packing slip inside the package. When registering your package at the post office, be sure to obtain the receipt and US Registered Mail number. That number should be provided to us by e-mail, fax or telephone call by no later than the following business day. The number allows us to track your shipment through the postal system.

Personal delivery. Due to insurance and security concerns, we cannot accept metals at our offices, in most cases. If you wish and if convenient, we can arrange for personal delivery to Brinks vaults in Los Angeles. If you choose to do this, obtain a copy of your packing slip signed by one of the receiving personnel at the vault.

Payment Options

Payment can be handled in three different ways:

By check to you at your address.

By check to a third party you specify – i.e., your broker, a relative or friend, etc. If you decide on this option, we need your direction in writing.

By bank wire to your bank account. If you choose this option, we need your bank’s wire instructions in writing.

We pay within two business days of receipt of your product at Brinks, Los Angeles.

Reporting and Documentation

We provide you with a copy of our purchase order for the transaction. It lists the product sold, the quantity and price. It also provides the date and your name and address as well as showing where delivery is to be made.

Under most circumstances, reporting to the IRS is not required. However, there are important exceptions. They are discussed elsewhere on this site. We recommend that all gains (and losses) be reported to the tax authorities if required.

Our Guarantee:

Each and every precious metals product offered by BEI is fully guaranteed to be of the weight and quality specified by the buyer. Our products come from sources known to us for many years. We have never had a single bar, coin, ingot or wafer returned for any reason. If you receive a product which is not of the quality and or weight stated on your invoice, we will, at our option, replace the product or repurchase it at the same price you paid.