What is Southern Coins and Precious Metals? Does it have unique service offerings? Today we take a comprehensive look into this company in a bid to establish its relevance to you as an investor. Stick with me till the end to learn about it as you also explore the recommended alternatives:
Name of the company: Southern Coins and Precious Metals
Official Website URL: https://scpm.com/
Overall Rating: (4.5 / 5)
Recommended: Depends if you want a IRA (see further down)
Important to mention before we go into more details of this review:
We always strongly recommend doing your research online before you choose a company to invest with. There are so many reviews online of clients being ripped off and scammed. The most common way people get scammed is through so-called “hidden fees” so please investigate thoroughly before you make your decision.
With that being said, let´s continue with the review on Southern Coins and Precious Metals!
Table of Contents
- What is Southern Coins and Precious Metals?
- The Service offered
- How does Southern Coins and Precious Metals Work? (How to Get Started)
- Does Southern Coins and Precious Metals offer IRA services?
- How can you open a Precious Metal IRA with Southern Coins and Precious Metals?
- Payment methods accepted when paying for precious metals
- Does Southern Coins and Precious Metals have minimums for purchase?
- Does Southern Coins and Precious Metals buy precious metals from individual sellers?
- Is Southern Coins and Precious Metals Genuine or Is It a Scam?
- Pros and Cons
What is Southern Coins and Precious Metals?
Southern Coins and Precious Metals exists as a Louisiana-based firm that has been running and operated by one family for the last 4 decades. The company was initially located in the New Orleans French Quarter before being moved to the suburb of Metairie. This new location offers SCPM’s customers enough parking space, a safer atmosphere, as well as a private office setting that guarantees client confidentiality in all trades.
SCPM’s staff comprises precious metal dealers as well as numismatists. They are groomed to purchase and sell various precious metals including gold, silver, platinum, and palladium in different forms. As a customer, you can turn to SCPM if you are looking for regularly traded bullion coins, scrap gold, or even sterling silver. Investors and collectors of numismatics are also welcome to access or sell various products and services.
This company takes pride in the fact that four of its staff members are members of the well-known Professional Numismatists Guild.
The Service offered
SCPM mainly focuses on selling and purchasing precious metals in their various forms. This company has its physical shop that you can walk into to purchase your preferred precious metals as you get help from the experienced staff. You can also use the ecommerce platform (on the official website), to buy the listed precious metals, and have them sent to you. In the same manner, you can sell back the products listed on this company’s ecommerce platform, or call to enquire if the precious metal products you own can be purchased.
Currently, this company’s product offerings include (but are not limited to):
- American Gold Coins
- Canadian Gold Coins
- South African Gold Coins
- Austrian Gold Coins
- Chinese Gold Coins
- Mexican Gold Coins
- Australian Gold Coins
- European Gold Coins
- British Gold Coins
- Gold Coins
- Low Premium Gold
- American Silver Coins
- Canadian Silver Coins
- Austrian Silver Coins
- South African Silver Coins
- Chinese Silver Coins
- Mexican Silver Coins
- Australian Silver Coins
- Silver Bullion
- Silver Rounds and Bars
- 90% and 40% silver
Platinum and Palladium products
- American Eagles
- Canadian Maples
- Russian Ballerinas
- Platinum Bars
- Palladium Bars
- Half $0.01
- Half $0.10
- And many more coins
- US Currency
- Foreign Currency
- Estate Jewelry
- Sterling Silver Items
- Sterling Silver Pitchers or Sets
How does Southern Coins and Precious Metals Work? (How to Get Started)
There are several ways that you can purchase or sell your precious metals to this company, the three main ones being:
- Visiting their physical store to purchase or sell the precious metal products, or other listed products.
- Selling your precious metals or precious metal products to this company by mailing them the products you want to cash out. You’ll get free appraisals in-office or through the mail.
- Purchasing precious metals by calling to order the products you’re interested in
- Buying precious metal products by placing your order through this company’s ecommerce platform.
Does Southern Coins and Precious Metals offer IRA services?
As of April 2021, there is no evidence that this company offers IRA Services. If this company goes to the extent of offering its customers a way to invest in precious metals through a precious metal IRA, I will update this review.
Meanwhile, you can have a look at what other companies that are offering IRA services have to offer. IRAs are a more defined approach to investing for the retirement years, and those involving precious metals are becoming a must-have for investors as we continue to face tough economic times globally.
Important: Please make sure that you know exactly what fees are associated before you sign anything, I have seen so many reports online of people getting surprised with so-called hidden fees that they had no idea about until it was too late. Transparency is what you want to look for in this industry.
**My #1 recommended gold & silver IRA company is 100% transparent + they got a few other benefits you might want to have a look at if you are interested in a new IRA, see this page
How can you open a Precious Metal IRA with Southern Coins and Precious Metals?
Unfortunately, since this company does not offer IRA services, there are no defined steps or processes to follow to open a precious metal IRA. Again, you’ll have to look at what alternatives have to offer for you if you still want to invest through a precious metal IRA.
See my #1 recommended gold & silver IRA solution on this page
Payment methods accepted when paying for precious metals
According to this company’s terms and conditions section, SCPM accepts payment for services rendered or products sold through credit cards and debit cards. I think the payment options here are quite limited since other companies offer a wider variety of options to their customers including ACH, wire, checks, cryptocurrencies, etc.
Does Southern Coins and Precious Metals have minimums for purchase?
I didn’t come across any piece of information about SCPM having minimums for purchase. That said, you can reach out to them before purchasing just to know if they have set new terms and conditions with regards to minimums for purchase.
Does Southern Coins and Precious Metals buy precious metals from individual sellers?
Yes! If you have precious metals of products that you’d like to cash out, you can reach out to SCPM to confirm if they’re capable of purchasing your collection. SCPM staff members offer free appraisal services for the products shipped to them via mail and products that customers carry with them to their physical store.
Is Southern Coins and Precious Metals Genuine or Is It a Scam?
Southern Coins and Precious Metals is in my opinion a genuine company that offers legit and reliable services. If you want to purchase and sell precious metal products and numismatics, this is one company that you can turn to. I looked at what customers are saying about the nature of its services and discovered that most of them are quite satisfied with how they were served. It has an average rating of more than (4.5/5) stars on most consumer review sites. Not forgetting that it is a BBB-accredited business with an A+ rating. With this kind of rating, this company is definitely one that upholds professionalism, and one which does not have a problem ensuring that its customers are satisfied.
**Have a look at how these top-rated alternatives to Southern Coins and Precious Metals that offers precious metals IRA Services are matching up
Pros and Cons
- Excellent ratings on consumer trust sites
- Well-trained customer service staff who are reliable
- Wide variety of precious metal products and numismatics
- No IRA services offered
- Limited payment options offered
Do You Own or represent Southern Coins and Precious Metals?
If you are a representative, or associate of Southern Coins and Precious Metals and have found something not to be correct in this review please, feel free to tell us 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 simply by sending us an e-mail to firstname.lastname@example.org.
Overall Rating: (4.5 / 5)
Southern Coins and Precious Metals seems to be a reliable precious metals dealer that you can rely on. I think it can serve investors whose main objective is to purchase or sell the products listed on its ecommerce platform quite well. However, those investing for their retirement years can turn to high-ranking precious metal IRA firms such as the ones recommended below. Precious metal IRA services are structured to offer better security, tax benefits, and investment portfolio diversification.
That will be all for this review about what Southern Coins and Precious Metals has to offer. Hopefully, you now know whether it has what you’re looking for at the moment. If you’re an investor who’s getting started with precious metal investments, feel free to contact me for insights that will set you on the right path from the get-go.
I wish you well,
Eric, Investor and Team Member at Gold Retired!