Local Coin Dealer Providing Trust, Education, and Commitment to the Local Community
If you find it challenging to comprehend the current state of the stock market and harbor concerns about your retirement prospects, The Plug is here to assist you in identifying the most suitable precious metals company. Diversifying your investment portfolio to safeguard against inflation may present the most promising avenue. An effective strategy for hedging against inflation involves investing in precious metals such as Gold, Silver, Platinum, and Palladium.
To facilitate the purchase of precious metals, the IRS permits investors to utilize a self-directed Individual Retirement Account (IRA). This type of IRA grants investors the same tax benefits as a Standard or Roth IRA while affording them control over their investments. Notably, investors enjoy the flexibility to buy or sell precious metals at their discretion, deferring any tax implications until the commencement of distributions. Given the IRS's specific guidelines regarding Gold and Silver purchases within an IRA, it becomes imperative to collaborate with companies that provide precise and reliable information, considering that we are not all tax advisors or IRS agents.
Determining which companies are most reputable and suitable to engage with can be a daunting task. The internet presents a vast array of information that can be daunting if you don't know who to believe. We want to simplify matters. At The Plug, our aim is to alleviate this burden by streamlining the process and presenting you with the top Gold and Silver IRA companies, online dealers, and local coin shops to eliminate the need to start from scratch.
Before we get started with The Coin Bullion Store Review:
It's tough to determine which precious metals dealer is reputable and reliable for your investment needs. The Plug aims to provide you with as much useful information as possible to shorten your decision-making process. The Best Gold IRA Dealers want to educate and inform their clients. We've broken down a list of the Top Gold and Silver IRA Companies for your review.
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Who is The Coin Bullion Store
Photo provided by thecoinbullionstore.com website
The Coin Bullion Store is a local precious metals retailer that offers coins and bars for investors and collectors. They have a minimal online presence and have a retail store location to complete their buying and selling transactions.
According to the Arizona Corporation Commission, The Coin Bullion Store is an LLC and was incorporated in August 2020. The owners are Michael McNally and Theodore Balsimo.
The Coin Bullion Store is located at 1107 S. Gilbert Road, Suite 109 Mesa, AZ 85204 within the Santa Fe Square office and retail center. You can get in contact with the store by calling 480-620-2822. Want to check out their website www.thecoinbullionstore.com
We were unable to find a BBB record of the business, but we were able to find a Google Business Page and Yelp reviews.
The Coin Bullion Store is a local coin dealer located in Mesa. They specialize in smaller quantity transactions of precious metals including gold, silver, platinum, and palladium. The Coin Bullion Store is not a Mint or refinery. You will not get uniquely minted coins or bars produced by them.
The website for The Coin Bullion Store does not provide in-depth information on the business, its history, or the owner's knowledge. It does provide information that tells you they work with gold and silver coins and they are in the market to buy your precious metals and Sterling Silver Flatware. In addition, the website emphasizes the quality and authenticity of the products it provides. It mentions that the bullion items are sourced directly from reputable mints and suppliers, suggesting a commitment to offering genuine and certified products to customers.
What Does The Coin Bullion Store Offer
Photo provided by thecoinbullionstore.com website
After reviewing the website and reading the customer reviews it appears that the store offers a wide selection of gold and silver products both of the investment grade IRA type, e.g. American Eagle Silver and American Eagle Gold, along with several rare coins and numismatics.
Rare Coins: Rare coins are coins that have limited availability or are scarce in the market. These coins are typically valued for their rarity and historical significance rather than their intrinsic metal value. The rarity of a coin can be determined by factors such as its age, mintage numbers, historical importance, and condition. Collectors and investors often seek rare coins for their numismatic value, which goes beyond the value of the metal content.
Numismatic Coins: Numismatic coins, on the other hand, refer to coins that are specifically collected and studied for their historical, aesthetic, and cultural value. Numismatics is the study or collection of coins, and numismatic coins are those that have value to collectors beyond their metal content. These coins may include rare coins, but they can also encompass coins that have specific characteristics, such as limited editions, special mint marks, unique designs, or significant historical or cultural associations.
IRA Approved Bullion:
IRA-approved bullion refers to certain types of precious metals that meet specific requirements set by the Internal Revenue Service (IRS) for inclusion in an Individual Retirement Account (IRA). To be considered IRA-approved, bullion must meet purity standards and be produced by approved mints or refiners. Typically, gold, silver, platinum, and palladium bars or coins meeting these criteria can be included in a self-directed IRA. By investing in IRA-approved bullion, individuals can potentially diversify their retirement portfolios and benefit from the tax advantages offered by IRAs while holding tangible assets that have a history of being recognized as stores of value.
As a service to their customers, you can shop their store for your next purchase or if you are selling your precious metals you can get a cash offer from the owners.
The Coin Bullion Store also purchases Sterling Silver Flatware. When you're cleaning out the storage and you don't know what to do with your silver flatware, contact the store for an offer to purchase.
For those who cannot make it to the store or who want a more secure and confidential appointment, get an "In-Home" appointment by calling the store.
Current Silver Offered:
- American Eagle 1oz
- Canadian Maple Leaf 1oz
- Austrian Philharmonic 1oz
- Morgan Silver Dollar 1878-1904 (1921)
- Misc. Silver Bars 10 oz
- Generic Silver Rounds
Current Gold Offered:
- American Eagle 1oz
- American Buffalo 1oz
- Canadian Maple Leaf 1oz
- Austrian Philharmonic 1oz
- Saint Gaudens 1907-1933
- Liberty Head 19=850-1907
What's Different about The Coin Bullion Store
What makes the store different than most we have reviewed? They provide their price right on the front of their website and in their store. There is no question about the price of the coin or bar as they have it labeled "Sell Spot + $120" or "Sell Spot + $5.75".
What they are doing is telling their customers upfront that their prices are Spot + an amount. There is no question, they don't change their prices based on the spot price today or give some random premiums that are not understandable. They are forthright with their customers and that is appreciated.
Understanding Coinage via Private Mint vs. Sovereign Mints:
When considering bullion options at a coin store like The Coin Bullion Store, it's important to understand the distinction between private mint bullion and sovereign mint bullion. Private mint bullion is produced by private companies or independent mints and may offer unique designs and limited editions. While it can be visually appealing, buyers should carefully assess the reputation and reliability of the private mint before purchasing.
Sovereign mint bullion, on the other hand, is produced by government-backed mints such as the U.S. Mint and carries the assurance of their sovereign guarantee. Sovereign mint bullion typically adheres to higher quality standards and is more widely recognized, making it easier to buy, sell, and verify.
When visiting a coin store and looking at a variety of offerings, it is crucial to consider the reputation of the mint the coin comes from along with the authenticity of the bullion, and the market liquidity and recognition of the products, ensuring a sound investment and peace of mind.
How is The Coin Bullion Store's Reputation
Based on all the information we were able to research and find online from Yelp and their Google Business Page The Coin Bullion Store is reputable and highly praised by their customers.
On the Google Business Profile, the store has 94 reviews with 5 Stars. Note: the stars appear to be 5 out of 5, but the reality is they are probably just under 5 stars as there were some reviews found with less than 5 Star Ratings.
On the business's Yelp page, they only have three reviews with an overall 4 out of 5 Star Rating. One review is a duplicate on the GBP and Yelp page. He gave a lower grade because he said there was friction in the store and he felt like the workers were rude.
Almost all, close to 100%, of the reviews praised the owners for their time and education on precious metals. Many found their prices to be low or very competitive. One mentioned their local price was less than those she found online from precious metals retailers such as Money Metals Exchange which we did a review which you can read by clicking here.
Final Thoughts on The Coin Bullion Store and Precious Metals Buying
As a buyer of precious metals do you consider yourself an investor or a collector? Knowing which category you fall into will help you decide where the best place is to buy your silver and gold coins and bars.
As a collector, you may choose coins that are IRA approved, but you are more likely to gravitate to coins that are numismatic, rare, or even just a bag of junk silver. Collectors are looking for a unique find or to complete a set. They maybe collect all the coins in a series or like to show off their Bullion or Proof Coins at home.
When you are a collector you need to be friends with all of the local coin shop owners. Having that relationship with The Coin Bullion Store may get you the prized coin you have been looking for.
As an investor, you are looking for bullion or proof coins and bars that give you the best opportunity to gain appreciation in value while conserving your retirement savings through a physical gold or silver investment. You are looking for those IRA-approved coins, the ones you know every coin shop and online store or Gold IRA dealer is interested in when selling. These types of investments are easy to find and easy to sell.
If you are an investor and haven't given thought to opening a self-directed Gold or Silver IRA, maybe now is the time. Using your retirement savings, that which is located in your current retirement accounts like your current Roth or Traditional IRA or maybe a prior employer's 401(k), allows you to use more resources to invest in precious metals.
If you want to get more information on where to start with a Precious Metals IRA check out these articles we have here at The Plug. We don't specifically recommend any particular investment, but we do recommend Dealers that specialize in SDIRAs and they will help you complete the paperwork and rollover funds from an existing retirement account.
Only $10,000 to Start?: What Precious Metals Company is Best if I only have $10,000 to Invest?
Guide to Physical Gold Buying: Beginners Guide to Investing in Physical Gold
Silver vs. Gold in 2023: Why Buy Silver not Gold in 2023
How to Choose a Dealer: Choosing the Best Precious Metals Dealer
We have several additional articles that may be of interest. Click Here and I'll take you directly to our blog list where you can find the articles you want to read.
So in closing, The Coin Bullion Store appears to be a viable store for those in the Phoenix area to purchase their gold and silver. Check out their website and walk right in and get the product you are looking for.