This time we’ll be looking at ModernCoinMart.com. What is Modern Coin Mart? How does it work? Can you store or sell back to this company? How does it compare to our #1 Recommended Companies? Let’s get started and find out!
Company: Modern Coin Mart
Owner: Asset Marketing Services
Who is it for? People who would like to invest in Precious Metals.
Overall rating: (3.4 / 5)
Essential to mention (before we go into more details of this review)
We strongly recommend doing your research online before choosing a company to invest in. There are so many reviews online of clients being ripped off and scammed. So please investigate thoroughly and compare different alternatives before you make your decision.
One example: 99.9% of companies got “pushy” salespeople trying to stress you into acting fast.
Here is the thing, the #1 Recommended Gold & Silver IRA Dealer on our top-5 list got No-salesy representatives… So they won´t bother or terrorize you with phone calls.
You are intelligent, so I am sure that you understand the benefits of dealing with such a company instead, right?
+They got a couple more benefits you might appreciate as much as I do. You will understand yourself once you have visited the page (link) above.
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With that being said, let´s continue with the review on Modern Coin Mart!
What is Modern Coin Mart?
Founded in June of 2004 and Based in Lakewood Ranch, Florida, Modern Coin Mart is a Coins and Precious metals dealer. On the 11th of May 2015, it became the fourth numismatic company acquired by Asset Marketing Services LLC. Modern Coin Mart employs around 35 people and is certified by NGC and PCG.
The physical address of the company is (5260 Paylor Ln, Sarasota, FL 34240, USA):
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What are the products and services offered?
I liked that ModernCointMart.com offers its clients a LOT of products to choose from. Whether it’s Silver, Gold, or coins, they include several types of precious metals on their website.
Here is a screenshot showing the products they offer under the “Gold” section:
Another thing I liked about this company is that they accept different forms of payments. Here’s an excerpt from their website explaining this more:
MCM accepts major credit cards such as Visa, MasterCard, American Express, and Discover. We also accept PayPal, checks, money orders, and Bank Wires. We offer a 2.95% discount for all orders over $1000 paid for with a bank wire. We do not accept traveler’s checks, credit card advanced checks or any digital currency.
Before placing an order with them, you must first create an account. It’s also important to note that they charge sales tax to all orders shipped to Florida or Minnesota Addresses.
If you’re not satisfied with one of MCM’s products, there is a chance you won’t be able to return it. You can read more about their return policy here (opens in new window)
Modern Coin Mart doesn’t offer IRAs Directly. They are merely a provider of IRA-eligible precious metals.
They suggest you open an account through one of the IRA firms they work with, NewDirection IRA and Gold Trust company.
Frankly, I would prefer to get the metals and invest in an IRA at the same place to avoid all the hassle of working with separate companies and all the headaches it can cause.
ModernCoinMart also doesn’t offer you advice on the best types of metals you can buy for your retirement account.
Another bummer is that you can’t put IRA-eligible precious metals you previously bought with MCM in your retirement account. Everything must take place AFTER you open the account.
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The IRA fees depend on the provider you’ll be choosing.
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Can you store or sell back to the company?
Since ModernCoinMart deals with two different IRA providers, it’s essential to check if they let you store with them. You can sell back to MCM, though. They have decent services that make selling your precious metals to them fast and secure. Check that out here (opens in new window)
Here’s a nice thing about MCM. They ship to a LOT of countries! They also explain the fees associated with international shipping, and apparently, they’ll be adding even more countries soon.
Here’s a page of their website that explains this more! (opens in new window)
What about online ratings and reviews?
Investing in Gold is a wise decision, but you must also be wise with choosing the company to work with. That’s why it’s always crucial to check out all the reviews and ratings available about companies you might consider and compare them with competitors.
Gold retired saves you the effort of going through the top review websites! Here are the ratings and scores of ModernCoinMart:
Rating: A ( out of 6 reviews and three complaints) Click here for more information (opens in new window)
Rating: (2.5 / 5)
There are just a few reviews about Modern Coin Mart, and the majority of them don’t look promising.
Learn about the #1 rated Gold & Silver IRA solution instead (with hundreds of reviews from the most 3rd party consumer protection sites in the industry among all IRA providers)
Do you Own or Represent Modern Coin Mart?
If you are a representative or associate of Modern Coin Mart 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 get the e-mail on the about page.
Final Words and Verdict
Verdict: Not recommended
Overall rating: (3.4 / 5)
Okay, we covered all the essential details about Modern Coin Mart in this short review.
Overall, it has some decent features, but it lacks positive reviews. It isn’t a good option for people who want to invest in an IRA since it works with other providers rather than providing the IRAs directly. We highly suggest that you choose a company that offers you the chance to both buy your precious metals and invest in an IRA at the same time.
What company do we recommend?
You made a wise decision to read this review, and you are an intelligent person. I am sure that you will find the right company that suits your needs the best. I would advise you to compare different alternatives against each other before you decide. Below you got my absolute #1 recommended IRA custodian:
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That’s it for this review! I hope you found it helpful, and now you know what Modern Coin Mart is. Like I said above, they have good features, but I would personally go for another provider due to our problems.
If you have any questions or remarks, please let us know. I’ll be more than glad to reply!
See you at the next one!
Owner of: Gold retired.
Richard Akers says
I wanted to comment on the article about Modern Coin Mart? I have spent several thousand dollars with MCM. I have complete trust in them. The products they advertise are exactly what you get. Their prices are very reasonable compared to other coin dealers I have had experience with. Their shipping department is the best. They usually ship in one day and I get my coins in 4-5 days. If I could give them a rating, it would be 5 stars based on my 10+ orders from Modern Coin Mart.
First of all, thank you for your comment.
That´s great that you are happy with their service, always good to hear!