Eastern Numismatics Review

Eastern Numismatics Review

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If you are interested in ancient coins and metals, you may have heard about Eastern Numismatics International. It has been a global forum for collectors, dealers, and fencers since 1974.
The company offers resources and services related to coin collecting and metalworking. Eastern Numismatics allows clients to purchase products from its website, physical address, and eBay.

This article aims to inform collectors, dealers, and other interested individuals about the current state of Eastern Numismatics and its past developments.

  • Product: Precious Metals
  • Owner: Eugene Parrella (President)
  • Overall Rating: 3.1/5

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About Eastern Numismatics

Eastern Numismatics Review

Eastern Numismatics was established in 1974. It is a family-run, full-service Rare Coin Company with headquarters in Garden City, NY, and Sarasota, Florida. It's one of the nation's premier suppliers of gold bullion, rare coins, and precious metals.

Eastern Numismatics services a client base of well over 500,000 buyers. With over 50 employees, it offers expertise in every field of coins, from ancient to modern. Also, it is a member of all major consumer and trade organizations, including the American Numismatic Association, the Better Business Bureau, and the Professional Numismatics Guild.

Eastern Numismatics offers a wide selection of services; Coin Certification Program, Free Coin Appraisals, Low Fee Consignment Service, and Gold IRA's. The company buys coins, jewelry, US paper money, diamonds, and most collectibles, including militaria.

Eastern Numismatics Products

Eastern Numismatics offers the following products to its investors and clients:

Gold Bullion Coins

Eastern Numismatics Review

Gold bullion coins are one of the most popular investments among those who want to diversify their portfolio. These coins are designed by several Mints in the United States, Canada, and Australia. The coins are made from 1 troy ounce of gold.

There are different types of gold bullion coins available, including:

  • American Gold Eagle
  • Canadian Maple Leaf

You can invest gold bullion coins in your IRA account. Gold coins are more expensive as compared to gold bars.

You can sell your gold coins and bars at the prevailing market price or a slightly lower price for trade or during a liquidation.

Gold coins are legal tender whose value is determined by checking their weight and purity.

Gold bullion coins are popular among investors because they offer a low-risk way to invest in precious metals.

Silver Bullion Coins

Eastern Numismatics Review

Silver coins have been a staple of the Numismatic community since the early days of coinage. Silver coins are affordable, readily available, and easy to store, making them ideal for investors and collectors alike.

Silver bullion products include coins, rounds, and bars. Most silver bullion products are produced in the United States mints.

The most common silver bullion coins are:

  • The American Silver Eagle
  • The Canadian Silver Maple Leaf coin

You can invest newly minted silver bullion coins and bars in your IRA account.

Generic Gold or Silver Coins

Eastern Numismatics Review

These coins are a product of the United States Mint and have no specific face value. They are legal tender and can be used as cash.

The most popular generic coin is the one-dollar coin, which has been around since 1971. An example of a generic coin would be a silver eagle or an American buffalo nickel.

Generic gold coins include:

  • The American Eagle
  • Gold Eagle
  • Liberty Dollar

You cannot invest generic gold or silver coins in your IRA account.

Certified US Gold Coins

Eastern Numismatics Review

Certified Gold American Eagles and Gold American Buffalos are available at Numismatic Guaranty Corporation (NGC), one of the world's largest coin grading companies.

All certified coins are guaranteed to be authentic and graded by NGC, so you can rest assured that your gold coins are in safe hands.

Several types of certified gold coins are available, including Proofs and Uncirculated. Many collectors consider the latter the most beautiful way to buy and own a gold coin.

You cannot invest certified US gold coins in your IRA account.

Key Date Rarities

Eastern Numismatics Review

Rarity is an essential aspect of Numismatics. Key date coins are associated with a specific date and mint mark. The most common vital dates collectors pursue are the 1792 half-cent, 1804 half dime, 1821 five-dollar gold coin, and the 1855-S silver dollar.

NGC or PCGS certifies critical date coins for authenticity and grade.

Key date coins are popular with investors because they offer a reliable way to invest in precious metals.

Key dates are also issued when there is an unusually high demand for U.S. coinage, and remarkable capacity is limited. Collectors can often find key dates at fixed price levels that make them more affordable than other coins produced later in the year or earlier in the year.

Territorial & Proof Gold

Territorial gold coins are legal tender in the issuing country. These coins were struck for circulation to raise war funds or pay off debt. Territorial gold coins generally depict a map of the country's territory, including its borders and cities. Gold coins from some countries in Africa, Asia, and South America are often known as proofs despite having no mint mark.

Rare Ancient Coins

Ancient coins from the ancient world, including ancient Greek and Roman coins, are a great addition to any collection. These coins were produced by the governments of ancient civilizations such as Greece, Rome, and Egypt. They are prevalent due to their historical value and aesthetic appeal. The value of rare old coins depends on the prices set during auctions.

Eastern Numismatics Services 

Eastern Numismatics Review

Coin Certification Program

Eastern Numismatics can help you submit your coins for grading and encapsulation as authorized dealers for all the primary certification services.

Coin Appraisal & Asset Sales

Eastern Numismatics offers a Free Verbal Appraisal estimate on all collections and accumulations.

Auction Service

Eastern Numismatics can help you secure favorable terms from among the top auctions when choosing a single Auction Sale for your portfolio liquidation. In addition, Eastern Numismatics can place your coins in our auctions, where we list over 3000 items daily,

Storage and Delivery

Eastern Numismatics Review

Eastern Numismatics works with the following authorized custodians specializing in precious metal storage:

Gold Star Trust Company

  • It is one of the nation's leading custodians for precious metals IRAs, with an experience of over twenty years.
  • It offers an easy process for opening accounts and professional customer service.
  • The IRA account holds the following precious metals; gold, silver, platinum, and palladium.
  • The precious metals must meet the minimum fineness requirements.
  • Gold Star Trust Company does not provide tax or investment advice since they are a Self-Directed IRA custodian–recommends customers be educated and perform their research before deciding to invest.

New Direction IRA, Inc

New Direction IRA provides investor education and recordkeeping services for retirement accounts.

Eastern Numismatics ships all orders to the customers' depository. It works with Diamond State Depository, located in Northern Delaware, to store your IRA precious metals.

Is Eastern Numismatics Legitimate?

Eastern Numismatics Review

Eastern Numismatics has been in the coin and precious metals business since 1974. It has physical addresses in Garden City, NY, and Sarasota, Florida. The company has membership in all consumer and trade organizations like American Numismatic Association, the Better Business Bureau, and the Professional Numismatists Guild.

Eastern Numismatics attend most of the big trade shows throughout the US and are active bidders at many public auctions. It offers precious metals IRA services that allow clients to diversify their portfolios and enjoy IRA tax benefits.

Despite being in business for more than four decades, Eastern Numismatics has fewer user-generated content reviews.

Resources for Investors

Investors can find a wealth of information about investing in precious metals and Eastern Numismatics International company performance on their website.

You can also contact Eastern Numismatics and speak to one of their qualified coin consultants who can help you select the best quality rare coins and precious metals.

Eastern Numismatics Ratings

Some of the available online ratings and reviews for Eastern Numismatics include:

  • BBB - A+ Rating, BBB Accredited
  • Yelp - 2 out of 5 based on four reviews
  • Birdeye - 3 out of 5 based on 29 reviews
  • Ripoff Report - 1 report
  • Yellow Pages - 1 out of 5 based on one review
  • BCA - B rating.

Features

  • Eastern Numismatics has been in business since 1974.
  • Eastern Numismatics is a member of all major consumer and trade organizations, including the American Numismatic Association, the Better Business Bureau, and the Professional Numismatists Guild.
  • Eastern Numismatics is committed to social sustainability and the environment.
  • Investors can purchase gold, silver, and platinum coins and bars.
  • They offer secure storage at depositories in central financial districts.
  • Precious metals IRAs are stored in the IRS-approved depository in Northern Delaware.
  • Investors can find helpful resources related to investing in precious metals on the website.
  • Eastern Numismatics also sells coins on its eBay profile.

Pros

  • You can invest in gold, silver, and platinum coins and bars through Eastern Numismatics International.
  • It offers a diverse and exceptional numismatic inventory to meet the clients' needs.
  • It offers precious metals IRA services.
  • There are exclusive coins and bars only available through Eastern Numismatics.
  • Secure depository storage options are available.
  • It has qualified coin consultants.
  • It is a member of top business organizations.

Cons

  • There are very few user-generated content reviews available online for Eastern Numismatics.
  • There is no live chat feature to directly engage customer service on the website.

Final Verdict

You have many companies to consider if you want to invest in precious metals like gold, silver, platinum, or palladium.

You should analyze the company's online customer reviews to rate its service quality. For your benefit, choose a company that offers precious metals IRA services.

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