Coin Mart

Coin Mart

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The Modern Coin Mart was founded in 2004 and is a dealer for precious metals. It is also commonly known as MCM. The company has been operating currently for about 17 years since 2004. When the company was started in 2004, it assisted in creating a market for bullion dealers online. 

Coin Mart started as the pioneer of online bullion dealers in the early days, and its distinction has been slipping. MCM is an offshoot of JMRC, John Maben Rare Coins, and its parent company to MCM with 35 employees. The company is among the larger sections of gold and silver bullion coins, which are at remarkable prices. 

However, after ordering your coins and precious metals, you may discover that their shipping time is slow, but it is still free shipping. You get what you pay for. Coin Mart has an expensive inventory catalog and offers a myriad of coins, especially for collectors and savers. The company does not provide any storage options and hasn’t partnered with any self-directed IRA custodians. 

Coin Mart

The precious metals bullion dealer is found in Florida, in the Sarasota area. Coin Mart’s expensive catalog includes platinum, silver, gold, and palladium products. The company offers IRA-eligible silver, platinum, gold, and palladium bars and coins. 

The general manager of Coin Mart, Andrew Salzberg, confirmed that Asset Marketing Services LLC acquired the company. Thus, Coin Mart has become fourth on the list of numismatic companies acquired by Asset Marketing Services LLC. AMS owns the company Stauer which sources, designs, brands, and markets gemstone jewelry, gold, and silver. 

Asset Marketing Services LLC saw Coin Mart as a complementary asset to their family of companies. It acknowledges Coin Mart’s rich history in precious metals and modern coins and its e-commerce capabilities. Thus, AMS saw a chance to invest in the company to continue its growth. 

Even though AMS has ownership of Coin Mart, it still operates independently as a company, and its staff is maintained in the company. 

Coin Mart has a buyback program for people who want their precious metals bullion or coins. In the buyback program, Coin Mart stipulates that the market conditions, supply, and demand constantly change. Therefore, the company’s ability to make offers is based on the current needs in the market and their company. 

They assess and buy products at their discretion and offer no commitment to purchase. There are times when Mart Coin refuses to make an offer on an item if the product is already in ample supply or is not something they wish to stock. 

On the website of MCM, it has a comprehensive section called info vault that will ensure its clients are educated and informed on the investment of precious metals. Infovault has several subsections such as News, Market Reports, Articles, and a Resource Center.

  • Product: Precious Metals
  • Owner: Asset Marketing Services LLC.
  • Overall Rating: 3.5/5

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About Coin Mart Precious Metals 

Coin Mart

Coin Mart Management Team

The company is operated and managed by the following team: 

  • General manager: Mr. Andrew Salzberg. He is also the vice president of Assets Marketing Services LLC.
  • The vice president: Mr. Hayden Tubbs.
  • Operations Manager: David Ward.
  • Wholesale trader: Dillon Grilley.

There is an indication that Andrew Salzberg may have left the company in 2015. Thus, it left ambiguity on who is currently at the helm of Coin Mart. 

Custodian and Storage In Coin Mart

Coin Mart runs solely as a dealer for precious metals bullion. According to the Coin Mart website, the company has no partnership with an IRA custodian that offers custodial services. MCM is an IRA company that does not explicitly works with silver or gold. 

It does not offer an all-in-one service such as storing and vaulting your precious metals with the help of a registered custodian as a third party. The company will not offer any vault storage options at any capacity. 

Thus, Coin Mort has no options concerning vault storage for partnered depository services. In simple terms, the company sells bullion items and coins that the purchaser is responsible for storing, whether they choose a trusted vault off-site or at home. This arrangement allows MCM to authorize competitive prices in the market and gives the buyer the freedom to select where they want to store the bullion. 

Coin Mart

Coin Mart Products

With Coin Mart, clients enjoy an extensive inventory that varies according to their preferences. The products for collectors are collectible and ancient coins. It has an excellent catalog for both approved numismatic and bullion items. They include: 

  • Palladium American Eagle
  • Silver American Eagle
  • Gold American Eagle
  • Platinum American Eagle
  • Gold American Buffalo
  • Silver Canadian Maple Leaf

The coin offerings in Coin Mart are of various kinds for collectors and investors, such as multiple alloys, silver, gold, and platinum-group metal coins. 

Do We Recommend Coin Mart?

Yes, we recommend you to purchase the precious metals from Coin Mart. The company has a wide variety of precious metal assets and coins that are competitively priced. Coin Mart will leave more money in your pocket at the end of the purchase.

Even though you will not have the opportunity to partner with a 401 (k) or an IRA custodian directly through Coin Mart, it will give you the freedom to select a custodian or depository that you wish to store your coins and medals. 

Pros & Cons of Coin Mart

Pros

  • It has several products available, such as platinum, gold, silver, and palladium.
  • Coin Mart offers a buyback program.
  • The company has an extensive catalog of products for collectors and retirement savers.
  • It has free domestic shipping.
  • It has no minimum on orders.
  • It has transparent and competitive pricing.
  • The e-commerce interface is user friendly.
  • Coin Mart has multiple payment options that satisfy users’ needs and locations.

Cons

  • Coin Mart seems it does not help its clients to open a precious metals IRA.
  • The company does not offer safe storage for the products as an option for its clients.
  • It uses a mail catalog, and therefore it risks personal information leakage.
  • The company only purchases bullion and collectibles according to the current inventory needs.

Final Thoughts

Coin Mart has a wide variety of ratings and reviews from trusted consumers. The reviews were fairly positive and with a few negative reviews. According to the online reviews, purchasing coins in the company is low-risk and seems to have among the best quality-price ranges in the market.

Also, the general service of Coin Mart holds a high reputation on several different sites. However, it is important that you carefully consider diverse precious metals companies in the market before you make any investment strategy.

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