Last Updated on November 14, 2023 by Ben
Modern Coin Mart
Are you interested in investing but don’t know where to begin? Look no further than Modern Coin Mart. They offer a wide variety of investment options for all kinds of investors. Their experts can guide you through the process of choosing suitable investments for your needs. With our help, you can make your money work for you!
Modern Coin Mart Review: What You Need to Know
What is Modern Coin Mart?
Modern Coin Mart began in 2004 and at the time helped create the market for online bullion dealers. It is a spin-off of its parent company, John Maben Rare Coins (JMRC), which employs 35 people. Modern Coin Mart castoff to be the pioneer of online bullion dealers, but it has been slipping since then. Modern Coin Mart still has a big selection of gold and silver coins. The prices are good too. After you order, the shipping might be very slow. But it is free with no minimum, so you still get what you pay for.
Overall the service and reputation of Modern Coin Mart seem to be good. Among many sites, they have a high rating on both the service and overall reputation.
Is Modern Coin Mart a Scam?
The notion that The Modern Coin Mart is a fraud is, in fact, incorrect. It’s a respectable business run by experts and veterans in the field. It also sells high-quality items.
It is also great that you can order online since the company can reach more clients. The only downside to it is how it lacks ratings and reviews. Moreover, it does not provide its own IRA services.
It’s critical to visit other dealers with comparable and better ratings before making a purchase.
How to Get Started?
The primary goal of Modern Coin Market is to provide an online platform for consumers to buy coins and other precious metals items.
You may buy their goods via its internet site or by calling them.
You must first make a user account when purchasing from the internet store. This procedure assures that your future transactions go smoothly and do not require you to update trade information often.
Modern Coin Mart, however, does not assist customers in establishing a precious metals IRA. Instead, they make sure that their store has IRA-approved metals. If you want to acquire precious metals for your IRA, you can still purchase from them.
You can also trade your coins and bullion to Modern Coin Mart, which uses a simple procedure to ensure that it goes smoothly. All you need to do is get in touch with their precious metals trader, Barry McCarthy, or send an email to get started.
Modern Coin Mart Gold Bar Selection
ModernCoinMart.com has a lot of gold bars for sale on their website. They have products from brands like PAMP Suisse, Credit Suisse, Perth Mint, Sunshine Mint, Argor-Heraeus, and Valcambi. This dealer also offers gold bars. They are manufactured by the Sunshine Mint and come in several different sizes. Currently, they are available in 1/10 oz weights.
If you compare their gold bars to other online sellers, they have many different sizes. You can buy gold bars that are 1 gram to 100 grams. They also sell the 1 oz variety. Modern Coin Mart has 45 gold bar products for sale. Each size of the bars is offered in a few different designs in most cases.
Modern Coin Mart has a price that is competitive to other stores. You can order as much as $15,000 for free. The shipping charge will be higher after that, but you can still order up to $25,000 for free.
Modern Coin Mart Fees and Costs
To see prices for precious metals, you can go to Modern Coin Mart’s website. It will have the product catalog.
If you live in the United States, the company offers free shipping to you.
You can see the IRA fees below.
GoldStar Trust Company
- Annual Maintenance Fee The minimum that they will charge is $60. The maximum is $250. If you have an account with less than $75,000, then the fee will be a minimum of 60$.
- One-time Establishment Application Fee $25
- Processing/Transaction Fee $40
- Distribution/Transfer/Wire Fee $25 per transfer
- Precious Metal Storage You need to pay $1.00 for every $1000 of value in your account. When you set up your account, the fee is deducted. The fee will be deducted again at the end of the year depending on how much value there is in the account during the same month it was opened.
New Direction IRA
- Annual Maintenance/Storage Fee $75 for accounts below $100,000
- $125 for accounts valued at or above $100,000
- One time Application Fee $50
- Processing/Transaction Fee $40
- Distribution/Transaction Fee $25
- Precious Metals Storage Fee Storage space varies depending on the provider.
Modern Coin Mart Products and Services
MCM has many different types of coins in its catalog. If you want a collectible coin, there are some for collectors. There is also a coin that you can put in your IRA if you save money for retirement. There are many types of coins, but the most popular ones are the Gold American Eagle, Gold American Buffalo, Silver Canadian Maple Leaf, Silver American Eagle, Platinum American Eagle, and Palladium American Eagle.
Modern Coin Mart Ratings and Reviews
Below, you can read honest reviews of Modern Coin Mart. People who like Modern Coin Mart said that they had a good experience with it. Others had bad experiences and complained about this company.
- BBB – A- rating with 5 complaints
- Yelp – 2.5/5 based on 4 reviews
- SiteJabber – 5/5 based on 2 reviews
Modern Coin Mart Pros and Cons
- Free shipping for orders in the US.
- You can order things on the internet.
- There are a lot of different products in the store.
- This product does not have any ratings or reviews
- The bank does not offer its own IRA services.
Augusta Precious Metals
Augusta Precious Metals is a family company that has been selling gold and silver for nearly 50 years. They operate as a financial adviser, assisting you in establishing wealth and stable retirement. Augusta Precious Metals assists investors in creating an IRA that is not linked to a retirement account. Gold or silver may then be purchased after this point.
The Securities and Exchange Commission suggests that you diversify your investments. It will assist you in managing the danger of losing money. Augusta Precious Metals personnel work with customers who have established retirement accounts. It’s made up of gold and other precious metals, and it has the same tax-deferred status as other self-directed IRAs.
American Hartford Gold
American Hartford Gold Group is a family-managed company that sells gold. Bars and coins are the most popular options. You can also put money into gold and silver IRA, an alternative to a regular IRA. They permit you to invest your money in precious metals, which helps diversify your retirement savings.
American Hartford Gold offers gold and other rare metals. These come in either coin forms or bars. A gold IRA is a type of account you can use to invest in precious metals without paying any taxes.
Goldco is a company that helps people when they are old. They can make sure that they have money and will not be poor again. Goldco does this for them. This company has a great reputation because people like how they do things. Customers say that they are dependable and that the company has ethical business practices. To make a wise resolution about your money and reach your retirement goals, call to learn about using expensive metals like gold or silver.
Goldco is a company that can assist you set up and maintain an IRA account. Goldco only offers gold and silver IRAs, but you can also invest in other precious metals within these accounts if you want to.
Whether you’re interested in buying coins or investing in coin collectibles, Modern Coin Mart is a good place to start. There’s no reason why it couldn’t be a fantastic place to acquire coins. Of course, there are no guarantees when it comes to investments, so do your best judgment before making any decisions.