Today we take a look at Gaithersburg Coin Exchange. What is Gaithersburg Coin Exchange? A scam or a legit gold dealer? Will they be the right choice for you or are there better options out there? These are some of the main questions this short review will focus on.
Company: Gaithersburg Coin Exchange
Website: www.gaithersburgcoin.com
Owner: Robert (Bob) Carlson
Price: Depends on the size of your investment
Who is it for: Precious metals investors
Overall rating: 
(3 / 5)
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Important to mention before we go into more details of this review:
We always strongly recommend to do your research online before you choose a company to invest with.
There are so many reviews online of clients being ripped off and scammed.
So please investigate thoroughly before you make your decision.
ALWAYS Review and compare the Top Gold IRA Companies Before You Invest!
There are literally hundreds, even thousands of precious metals dealers and IRA custodians to choose from.
The risk with this is that it can be easy to settle for the first company you find that “impress you”.
The problem is, while most gold dealers offer similar bullion prices (based on the live spot price), they can differ A LOT in their shipping policies and storage fees, which are typically decided by the IRA custodians they deal with.
This is also where the “ripoffs” usually take place in the form of hidden fees and lack of transparency.
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With that being said, let´s continue with the review on Gaithersburg Coin Exchange!
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What is Gaithersburg Coin Exchange about?
Gaithersburg Coin Exchange is a precious metals dealer that specializes in coins. They have been in business for over 40 years and the company is based in Maryland.
The physical address of the company is: 16 E Diamond Ave, Gaithersburg, MD 20877, USA
How does it work?
In short, this is a place where you can either buy or sell precious metals.
The Products
The products offered by the company is mostly coins but also bars in gold and silver of different coin models. Below their products are listed:
- Gold and Silver Bars & Investment Products
- 90% Silver Coinage Bags
- Rare Coins and Currency
- Ancient and World Coins
IRAs?
No, IRAs are not offered by the company and there is no info about this on their website.
**Read about my #1 recommended Gold IRA custodian here
Can you get the gold (and other metals) delivered to your home?
There is no info about this on their website.
Can you store your investment with the company?
Once again, there is no info about this on their website.
Can you sell back to the company?
Yes, you can. You can also sell products to them that you might have bought from somewhere else.
Here is a list of what you can sell to the company:
- Old Jewelry
- Coin Collections and Currency Collections
- 90% Silver Coinage
- World Coins and Currency
- Sterling Silverware and Tea Sets
- Gold and Silver Products
Can anybody in any country use their service?
No, the services of the company are for people living in the U.S. only.
Is Gaithersburg Coin Exchange a scam?
So, is Gaithersburg a scam? No, it is not a scam, of course not. I mean, it would never have survived this long (over 40 years) if it wasn´t, right? It also got real owners and a real physical address, recommended by the U.S. Mint, etc.
However, if they are your best alternative to go and buy (or sell) precious metals with is another story… That leads us to the:
Online review, ratings, and complaints
Below I will provide the ratings and complaints from some of the most well-known and trusted review and rating sites online so you can get a better overall picture:
BBB (Better Business Bureau)
Overall rating: A+
Review score: (3 / 5) (based on 1 complaint)
Trustpilot
Overall rating: N/A
Trustlink
Overall rating: N/A
Yelp
Overall rating: 
(0 / 5) (out of 6 reviews)
Glassdoor
Overall rating: N/A
Ripoff Report
Overall rating: N/A
Pissed Consumer
Overall rating: N/A
Review Opedia
Overall rating: N/A
CitySearch
Review score: N/A
Overall rating: 
(3.1 / 5) (out of 32 reviews)
Any Red Flags?
Well, the biggest red flag in my humble opinion is that (ass you can see above) there are VERY few reviews on the company. Especially when you take into consideration that they have been in business for 45 years and there are only 37 reviews to be found on them.
You need to know that most of its peers got thousands of reviews, many of them haven´t been in business half the time as Gaithersburg Coin Exchange…
So that is the biggest red flag I would say, the lack of reviews on the company.
Also, some of the complaints are pretty alarming, below you got 2 examples (with links provided beneath screenshot if you want to read more):
To read more complaints from the Yelp website click here (opens in new window)
To read more complaints from Google click here (opens in new window)
How´s the support?
One thing I always put a lot of importance on when it comes to the quality of the support system of a company is if they got a live chat function on their website or not.
Gaithersburg Coin Exchange do not have this and that is a minus (at least in my book).
They do offer you the “mandatory” e-mail address and a phone number for you to contact them with your questions.
Why Should You (Or Should NOT) choose Gaithersburg Coin Exchange?
One thing that is very good to do to get a better overall picture of a company is to compare its pros against its cons to get a better understanding. Below I have highlighted some obvious points for you to make this job easier for you:
The Good
- Been in business for over 40 years
- Officially recommended by the U.S. Mint
- Broad selection of coins
The Bad
- The lack of reviews (+ some of the reviews are very negative)
- Do not offer IRAs
- Doesn´t offer platinum, palladium or other “alternative metals”
- Website lacks in both info and support
Do You Own or Represent Gaithersburg Coin Exchange?
If you are a representative, or associate of Gaithersburg Coin Exchange and have found something not to be correct in this review please, feel free to tell and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or else you got the e-mail on the about page.
Final Words and Verdict on Gaithersburg Coin Exchange
Verdict: Legit
Overall rating: (3 / 5)
Ok, I think that sums up this review and the overall picture of this company pretty good. It is a legit one, yes, absolutely. However, the lack of reviews, the negative reviews, the lack of info/support on the website makes it hard to give a higher rating than a 3-star rating.
So, f, r now 3 stars out of 5 it is, and it feels very fair.
It can of course change to a higher or lower one in the future as the reviews on this website are getting updated as soon as some “news” on a company comes up.
You have made a smart choice reading this review as it is always recommended that you research and compare many different companies against each other before making an educated decision.
Am absolutely sure that you will find an IRA custodian that is right for you as you clearly (as you have read this far) understand this concept.
Which Company Do You Recommend?
If you are looking for a reputable gold IRA custodian besides any other company, you should check out GOLDCO.
They have ZERO complaints from over a thousand of real users. Used by celebrities, respected by well-known publications, and websites.
And A LOT more benefits!
Click here to read about GOLDCO
I hope you found this short review on Gaithersburg Coin Exchange to be helpful and now you might have a better overall picture of what it is and if it is a scam or not, and also importantly, will it be something for you? If you have used any of its services please share your experience with us in the comment section below, as it can help others. Also, if you got any other questions on this review I will be more than happy to answer them below.
I wish you the best!
Michael
Founder of: Gold Retired
If a company has been operating for 40 years and still mistreat customers, then they may have a lot of reserves in their company account.
They don’t seem to care whether customers buy (in this case, deals with them) from them or not.
It’s really funny and sad at the same time to see a reputable company (recommended by the US Mint) to operate a legit business like this.
Yes I agree with you on this.
Thanks for your comment!
/Sincerely
I just called them to ask for premium over spot and all I heard from an older man was: You won’t find it for cheaper anywhere! I proceeded to tell him nicely that wasn’t true and I’m very knowledgeable on sales of precious metals! It wasn’t that I found a cheaper premium, it was that he was rude and hung up the phone on me! Our whole family sold silver to this business when silver reached it’s peak price of $50 per ounce! You have cut off any sales you would have gotten from silver bullion and I definitely won’t buy my wife any jewelry there either! So you see, you will be in trouble someday with your business- I WISH YOU LUCK ON A POORLY RUN BUSINESS!
Hi there, thank you for your comment!
Hopefully this will make others think twice,
please feel free to come back here and update us on how your situation evolves,
as it can help others think twice!
Thank you again for your comment,
/Best