Embarking on the journey of investing in precious metals requires careful consideration and informed decision-making.
In this comprehensive review, we delve into the realm of DBS Coins, a family-owned bullion dealer based in Dana Point, California.
From exploring their product offerings to examining customer feedback and fee structures, we aim to provide you with an insightful analysis to aid in your quest for the ideal partner in your precious metals investment journey.
What is DBS Coins?
DBS Coins is a family-owned bullion dealer based in Dana Point, California. Their contact number is 888-327-9205. Similarly, their office is located at 32932 Pacific Coast Hwy #14-234, Dana Point, CA 92629. The company has been in business since 2008.
They offer gold, silver, platinum and palladium products to customers to invest in. The company focuses on customer satisfaction and providing them with quality service.
They have a decent collection of both IRA-eligible and collectible precious metals. Furthermore, the company has many free resources available on its website for consumers who are new to investing in gold and silver.
Find the Best Rated Gold IRA Company of your State
They have partnered with two reputed custodians to allow clients to open gold IRAs.
People Behind DBS Coins
Surprisingly, DBS Coins doesn’t share any information about the people behind the organization. Their “About Us” page only shares that DBS Coins is a family-owned enterprise.
Usually, businesses tend to provide this information on their website to help potential investors know about their expertise and experience. Transparency instills trust in many consumers.
However, you can visit their store and meet their team directly.
Many gold dealers and IRA companies don’t disclose such information on their website due to various reasons. Some business owners value their privacy and don’t like to make such information public.
Can You Start a Precious Metals IRA with DBS Coins?
Yes, it is possible to start a precious metals IRA with DBS Coins. They have partnered with two custodians, GoldStar Trust Company and New Direction IRA to offer precious metals IRAs to customers.
To open a precious metals IRA with this company, you would first need to choose the suitable custodian.
Afterwards, you would have to submit the required paperwork. Once the paperwork is complete, you can add funds to your precious metals IRA.
You can either add funds directly or rollover funds from an existing IRA.
This process shouldn’t take too long.
Once the funds are added, you can start purchasing precious metals from DBS Coins to add to your gold IRA.
DBS Coins Products
DBS Coins has quite an impressive collection of IRA-eligible products. You can also find many collectible coins in this selection. They offer gold, silver, platinum and palladium products to customers.
Gold IRA Products:
You will find several of the popular gold IRA coins in their catalog:
- Austrian Gold Philharmonic
- American Gold Buffalo
- Canadian Gold Maple Leaf
- American Gold Eagle
The American Gold Eagle coins are available in 1 oz, ½ oz, ¼ oz and 1/10 oz sizes. For investors who are interested in making larger investments in gold, DBS Coins has a few gold bars to offer:
- Valcambi Combi Bar
- Johnson Matthey Kilo Bar
While the collection isn’t huge, it’s certainly varied.
Silver IRA Products:
Their selection of silver products is a little smaller than their gold collection:
- American Silver Eagle
- Canadian Silver Maple Leaf
- Austrian SIlver Philharmonic
Also, you can get Royal Canadian Mint 100 oz and Johnson Matthey (1 oz and 100 oz) silver bars from this bullion dealer.
Platinum and Palladium IRA Products:
One great highlight of DBS Coins’ catalog is that they offer platinum and palladium IRA products to consumers.
You can find the following platinum IRA products here:
- Credit Suisse 1 oz Bar
- Canadian Platinum Maple Leaf
- American Platinum Eagle
Similarly, you can find the following palladium IRA products:
- Credit Suisse 1 oz Bar
- Canadian Palladium Maple Leaf
Both platinum and palladium are becoming increasingly popular thanks to their ability to make your portfolio more diverse and risk-averse.
Non-IRA Products:
The company has plenty of non-IRA products available in its catalog. Although I don’t recommend investing in non-IRA gold and silver, it can be a good fit for some investors.
The problem with rare and collectible coins is that their value depends a lot on the coin’s design and rarity.
However, many investors tend to buy non-IRA coins for their personal collection.
If you’re one of those investors, you will find the catalog of DBS Coins quite impressive.
They offer 90% junk silver, British coins, as well as South African Krugerrands as non-IRA products.
Similarly, you can find Australian Kangaroo coins of various years in their collection.
However, be extremely cautious when investing in non-IRA coins and bars.
DBS Coins Fees and Cost
DBS Coins maintains a lot of transparency when it comes to sharing prices. They update the gold and silver prices on their website every minute.
Furthermore, their website shows you if the spot prices rose or went down over the last few days.
The company assures consumers on its website that it doesn’t charge any hidden fees.
If you set up a precious metals IRA with DBS Coins, your fees would depend on the custodian you choose. The two available options are:
- GoldStar Trust Company
- New Direction IRA
Each of them has different fee structures as well. For example, the annual administrative fee of New Direction IRA is a flat rate of $150. On the other hand, GoldStar Trust charges 0.8% of your total assets’ fair market value as an annual administration fee.
Your charges with both of these custodians would depend on the size of your investment. Furthermore, you would also have to incur storage fees as you can’t store metals of your precious metals IRA at home.
| Charges | New Direction IRA | GoldStar Trust Company |
| Initial Setup Fee | $30 | $50 |
| Annual Maintenance Fee | $150 | $1 per $1000 of market value ($75 min.) |
| Transaction Fee | $95 | $0 |
Additional Highlights of DBS Coins
There are a few qualities that make DBS Coins a unique bullion dealer. Here’s a brief overview of the same:
Multiple Custodians
DBS Coins allows its customers to choose from two custodians, New Direction IRA and GoldStar Trust Company. Both of them are well-reputed and popular custodians with different fee structures and benefits.
Having the option to choose from multiple custodians is certainly a positive.
Free Resources for Consumers
The website of DBS Coins offers several helpful guides on how to purchase and how to sell precious metals. You can also read on the difference between Generic and Minted precious metals.
These free guides can be quite useful for beginners. Surely, the company values client education and ensures that the customers are able to make well-informed decisions.
Reputed Storage Provider
To offer secured storage to customers, DBS Coins has partnered with Brinks Global Services, a highly popular storage provider among bullion dealers.
Brinks Global Services is a highly reputed storage provider with multiple vault locations. They provide consumers with Class III secure vaults that are insured by Lloyd’s of London.
DBS Coins Reviews and Complaints
While DBS Coins has a commendable track record since its establishment in 2008, the limited online reviews raise some concerns. While this scarcity could be due to the private nature of precious metals investments, potential customers may find it challenging to gauge the experiences of others.
Their BBB profile has an A+ rating but it doesn’t have an accreditation nor any customer reviews.
However, there are 2 consumer complaints listed on the platform in the last 3 years.
Similarly, their BCA profile has no customer reviews but an AA rating. I checked out other consumer platforms and found no reviews on the company there as well.
The lack of customer reviews can be alarming for many investors. It certainly doesn’t help the company.
Is DBS Coins Legit?
Pros:
- Over a decade of industry experience
- An impressive collection of IRA-approved products
- Partnered with multiple custodians
Cons:
- Not many positive reviews are available
DBS Coins is a legitimate bullion dealer which has been in business since 2008. It’s a family-owned enterprise which allows customers to purchase gold, silver, platinum and palladium products.
Their product selection contains many of the popular IRA-eligible products such as Canadian Maple Leaf and American Eagle.
Furthermore, the company has partnered with two custodians to offer precious metal IRAs to customers. Their storage partner is Brinks, a highly respected vault provider.
While the limited online presence might raise questions for some investors, the company’s long-standing presence, custodial flexibility, and commitment to transparency contribute positively to its reputation in the industry.
As with any investment decision, thorough research and due diligence are recommended to make well-informed choices.
Opening a gold IRA can help you hedge against inflation and economic downturn. However, the provider you choose will determine the returns you get. That’s why it’s essential to go through multiple precious metals IRA providers before selecting one.
This way, you can ensure that you have access to the best possible products and options available.
I recommend checking out more gold IRA companies on IRAEmpire.
Have you dealt with DBS Coins before? How was your experience? Share it below!