Many people around the world enjoy collecting and investing in rare coins, gold coins, foreign coins, and ancient coins. If you’re just starting out collecting coins, you are probably wondering where to start buying and how to go about collecting and investing in coins. You will want to find a reputable company to buy your coins from if you’re starting or adding to your numismatic collection.
Being able to find a trustworthy company to buy coins from is particularly important if you’re buying online. Many people buy coins from pawn shops and vintage shops, but you could be overcharged or sold a coin that isn’t real if you don’t know what to look for. Tradeshows are a great place to meet other numismatic enthusiasts, gain more knowledge about coins and buy coins – but there might not be one near where you live. Being able to buy coins online gives you a lot of freedom to choose the coins you want and to have them shipped to your door.
All investments involve an aspect of risk and that includes coins, currency and bullion. Markets for precious metals and rare coins are speculative and can be volatile. The value of a numismatic or rare coin is determined by a variety of factors such as the perceived scarcity, the quality, how much demand there is, and economic factors.
Anyone buying coins should consult with their financial advisors as to whether it’s a good move for them to invest in rare coins or bullion. It’s advisable that you first get a thorough understanding of the coin and bullion items you want to buy before you acquire them as a collector, investor or hobbyist. You will also need to take cognisance of the current market conditions and market value, and know how long you may need to hold the coins for before you may see any return on investment. You should also consider whether you have somewhere to store the coins, what your insurance costs would be and whether you may need to pay to have them stored.
Nationwide Coin and Bullion Reserve is one such company that sells coins online and ships them directly to your home. Below we provide an overview of how buying through their website works, what coins they offer, what online review platforms have to say about them, and we answer some frequently asked questions.
How Nationwide Coin and Bullion Reserve Works – A Review
Nationwide Coin and Bullion Reserve is an American company that sells U.S. Government issued and foreign issued coins. It was founded in 2009 and has over 100 years of combined experience in the precious metals industry – particularly gold, silver and platinum. The company aims to help their clients receive a good return on investment (ROI) and they provide expert knowledge and advice. Many of their clients are looking to diversify their monetary holdings which is why they invest in precious metals.
The Nationwide Coin and Bullion Reserve website has an e-commerce feature where you can buy the precious metals that you are looking for. It also has some information and tips about trading in precious metals and how to invest in them. They also offer free consultations with their precious metals consultants, rarities consultants, numismatic experts, economists and trend analysts, who can answer your questions, give you advice and assist you in purchasing precious metals.
Gold and silver coins are global commodities which can hold and increase their intrinsic value in countries worldwide. That’s why people like to invest in them, as paper money can lose value due to inflation and changing economic or political situations in any country.
What Products And Services Can You Get on Nationwide Coin and Bullion Reserve?
Nationwide Coin and Bullion Reserve sell pre-1933 American rare coins and bullion, modern American rare coins and bullion products, foreign coin and bullion products, and IRA rollover and start up gold and silver packages.
The prices of coins, bullion and other precious metal products varies depending on global markets and supply and demand. Nationwide Coin and Bullion Reserve offer some introductory special rates on their website for first time buyers.
Below is a summary of their gold, silver and pre-33 collections. As mentioned above, they provide an expert advisory service related to all the products they sell.
Nationwide Coin and Bullion Reserve: gold collection
Their gold collection includes the following products:
- Government Issued 1 OZ $50 Gold American Eagle
- Government Issued 1/10 OZ $5 Gold American Eagle
- The 2019 W Burnished Gold Eagle
- 2020 End of WWII 75th Anniversary Gold Coin
- 1 OZ Gold Bars
- 2018 American Liberty Gold 1/10th OZ
- 1 OZ Gold Buffalos
Nationwide Coin and Bullion Reserve: silver collection
Their silver collection includes the following:
- 1 OZ American Silver Eagle
- Mercury Dimes
- 2020 Mayflower Ultra High relief PL70
- 1964 Kennedy Silver Half Dollars
- 10 OZ Silver Bars.
Nationwide Coin and Bullion Reserve: pre-33 gold coin collection
Their pre-33 gold coin collection, includes the following:
- $2.5 Indian Head Quarter Eagles
- $10 Gold Indian Head, and
- $20 Saint-Gaudens Double Eagle Pre-1933
- $20 Liberty Double Eagle Pre-1933
Is Nationwide Coin & Bullion Reserve a Scam?
When you consider buying precious metals from an online trading platform, it’s critical that you do proper due diligence to check that they are not a scam. Otherwise you could end up losing hundreds or thousands of dollars. Two websites that consumers can use to assess the legitimacy of a business are the Better Business Bureau (BBB) and Trustpilot.
It’s also good to assess the website itself to see whether there’s information about the company directors and board of executors. If there isn’t that should raise a red flag. Furthermore, you should look at online reviews and comments on social media and other websites to see what people are saying and what their experiences with the company has been.
Nationwide Coin and Bullion Reserve BBB Rating and Trustpilot Reviews
Nationwide Coin and Bullion Reserve does not have an official accreditation with the Better Business Bureau. Furthermore, it has 26 complaints, a D+ rating and a 2.75 score which does not provide a good reflection of the company’s trustworthiness and ability to effectively deal with customer complaints.
On Trustpilot, Nationwide Coin and Bullion Reserve has 630 reviews with an overall 4.5 stars out of 5. The majority of the reviews are excellent (75%), with 13% great, 7% average, 2% poor, and 3% bad.
Their Trustpilot rating is much better than their BBB rating, which shows mixed customer reviews. That means that you should look into the company a bit deeper to see whether you feel they are credible and reputable enough to buy from.
Nationwide Coin and Bullion Reserve are also members of the Business Consumer Alliance, which aims to promote business self regulation. They assist consumers in resolving complaints with businesses and they use that complaint information along with other relevant information like customer reviews to assess business reliability. They then assign businesses with a rating, ranging from AAA to F, which is meant to assist the public in identifying reputable or disreputable companies.
On the Business Consumer Alliance website, Nationwide Coin and Bullion Reserve has 2 complaints against the company in the last 3 years and has a AAA rating. An AAA rating shows that a company has an exemplary rating and that nothing warrants any doubt about the company’s reliability.
FAQs about Nationwide Coin & Bullion Reserve
What are the pros and cons of buying from Nationwide Coin and Bullion Reserve?
Pros
- They sell a wide variety of gold and silver coins
- There aren’t minimum order quantities which means you can buy as few or as many coins as you like
- They offer an online buying platform which means no matter where you live, they can deliver
- Your order is insured up until the point of delivery
- They have a good rating on Trustpilot and an AAA rating with the Business Consumer Alliance
Cons
- They are not accredited with the Better Business Bureau (BBB)
- They have a poor rating on the BBB and there are also quite a lot of customer complaints on there
- There is not much detail on their website about the company directors, CEO and other senior staff or experts which is a red flag and a bit concerning in terms of transparency and legitimacy
How can I get an IRA with Nationwide Coin & Bullion Reserve?
Many people who are planning their retirement like to diversify their investments with some money invested in stocks and shares, some in banks, some in property, and perhaps some in coins or art.
You can add gold products to your Individual Retirement Account (IRA). There are several types of gold bullion and coins that are legally approved for use with IRAs and other self-directed retirement accounts, according to Nationwide Coin and Bullion Reserve. If this is something that you are interested in doing, then it’s best to work with a custodian who has experience in investing in precious metals.
Typical IRAs and company-sponsored retirement accounts are not allowed to buy physical gold, so you need to open a self-directed IRA through an IRS-approved custodian. Any money you contributed towards an employer-sponsored plan can be rolled over into the self-directed IRA. After you’ve set up the account, you can then instruct the custodian to buy gold through a dealer like Nationwide Coin & Bullion Reserve.
If you buy gold for an IRA, it needs to be physically held by an IRS-approved depository service. This will cost you administrative and storage fees each year.
What’s the purity of the Nationwide coins?
According to their website, Nationwide Coin & Bullion Reserve Gold American Eagle coins contain 1/10 of an ounce of .9999 pure, American gold – and each of these coins contains 3.11 grams of 24 karats (.9999 pure American gold). Thereafter they add 0.28 grams of silver and copper to the coins.
Shipping costs, times and insurance?
Nationwide Coin & Bullion Reserve offer free shipping for all products purchased through their website, regardless of the quantity or the order value.
They aim to have items shipped within 7-10 business days after the order has been processed and confirmed. Shipping can take longer depending on your location and if there are holidays.
Once you place your order, you will receive an email with your tracking information (as long as you provided your email address) – otherwise they will call you with the tracking number.
Nationwide Coin & Bullion Reserve products are all insured by FedEx and all packages are company bonded by Merchants Bonding.
Conclusions
If you are looking to buy gold and silver coins, then one of the places you might like to consider is Nationwide Coin and Bullion Coin Reserve. However, there seem to be quite a few negative reviews of their service and sales approach on the Better Business Bureau. It’s also a bad sign that they don’t have an official profile on the BBB. Furthermore, it doesn’t bode well that they have no information on their website about their company directors and CEO and there seems to be a general lack of transparency.
However, that being said, they do have a good rating on Trustpilot and it is convenient that they offer online sales and delivery with free shipping and insurance. They are also members of the Business Consumer Alliance and have an AAA rating which is the top rating for that platform.