What is Austin Rare Coins and Bullion?
Austin Rare Coins and Bullion is a precious metals dealer based in Austin, Texas. Its address is 13809 Research Blvd #405, Austin, TX 78750. Similarly, their contact number is 512-231-1601.
Founded in 1989, Austin Rare Coins and Bullion is a highly reputed and one of the most reputed bullion dealers in Texas. The company has an amazing collection of gold, silver and platinum coins and bars.
They have partnered with New Direction IRA to offer custodial services and help consumers set up precious metals IRAs.
Furthermore, the company has a large collection of rare, ancient and Pre-1933 coins. The company has provided consumers with several learning resources on its website with guides on how to get started.
Are they worth your money? Find out in the following points:
People Behind Austin Rare Coins and Bullion
Surprisingly, Austin Rare Coins and Bullion doesn’t share any information about its leadership and management team.
This can be a disappointment for some investors as modern businesses have begun prioritizing transparency a whole lot more.
Their social media pages and profiles don’t share any information about the people running the organization as well. It seems like the company has deliberately kept its management team hidden.
How to Invest with Austin Rare Coins and Bullion
If you’re interested in setting a precious metals IRA with this company, you only have to follow these steps:
First, you would need to get in touch with the company and open an account with their custodian. Austin Rare Coins has partnered with New Direction IRA for custodial services.
The custodian will help you set up a self-directed IRA. Self-directed IRAs allow you to invest in alternative investments such as real estate and precious metals.
After you have opened a precious metal IRA, you can begin funding the account. To do this, you can either add funds directly to your IRA or rollover funds from an existing IRA account.
Once your precious metals IRA has the necessary funds, you can begin purchasing IRA-eligible gold, silver and platinum products from the company’s catalog.
By following just these three steps you would have a precious metals IRA with your desired investments.
Austin Rare Coins and Bullion Products
Austin Rare Coins and Bullion has an impressive collection of gold, silver and platinum products. However, keep in mind that they offer many rare and collectible coins, which you cannot add to your precious metals IRA.
The IRS considers rare coins as collectible items similar to art. Adding them to your precious metals IRA can result in serious penalties.
Hence, be cautious when purchasing here.
Gold IRA Products:
Here, you will find all of the popular IRA-eligible gold products including:
- American Gold Buffalo
- Canadian Gold Maple Leaf
- American Gold Eagle
- Austrian Philharmonic Gold Coin
- Australian Lunar Gold Coins
Similarly, you’ll find several gold bars and rounds eligible for your precious metals IRA here.
The company highlights that all the gold bars they offer to customers are accredited or certified by the relevant authorities such as COMEX, LBMA, ISO 9000 and others.
Silver IRA Products:
Their collection of silver IRA products is impressive as well. They have nearly all of the most popular silver IRA coins:
- Canadian Maple Leaf Silver Coin
- America the Beautiful Silver Coin
- American Eagle Silver Coin
- Austrian Philharmonic Silver Coin
- Australian Silver Coins
- American Eagle Silver Proof Coins
Just like their collection of gold products, they offer silver bars and rounds of various sizes as well.
Platinum and Palladium IRA Products:
Their platinum collection includes:
- American Eagle Platinum Coins
- Canadian Maple Leaf Platinum Coins
- American Eagle Proof Platinum Coins
And platinum bars.
Similarly, you would find Canadian Maple Leaf Palladium coins and palladium bars to invest in.
Austin Rare Coins and Bullion has an amazing collection of non-IRA products. They offer pre-1933 gold, ancient coins and rare coins to customers.
Some of the notable products present in this selection are:
- Morgan Silver Dollars
- Mexican 8 Reale
- Gold Liberty Coins
- Peruvian 8 Reale
And plenty more.
While the collection is quite attractive, a large portion of their IRA-eligible and non-IRA products were marked “Out of Stock”.
Austin Rare Coins and Bullion Fees
The custodial partner of Austin Rare Coins and Bullion Fees is New Direction IRA at the time of writing this review. It’s worth noting that the company has changed custodial partners in the past too.
When you deal with a precious metals IRA provider, your charges depend mainly on the custodian and the storage provider.
Here, you would have to pay a $50 application fee to open the IRA and $40 transaction fee per purchase.
Also, New Direction IRA charges $75 annual fees for accounts below $100,000 and $125 for accounts at or above $100,000.
Austin Rare Coins doesn’t share any information on its storage provider. Hence, it’s difficult to determine how much storage fee you would have to pay with this gold IRA company. This can be a disappointment for some investors
|Initial Setup Fee||$50|
|Transaction Fee||$40 (per transaction)|
|Annual Maintenance Fee||$75 (for accounts below $100,000) / $125 (for accounts at or above $100,000)|
Additional Highlights of Austin Rare Coins and Bullion
Apart from having an attractive collection of rare and collectible coins, there are plenty of qualities which set Austin Rare Coins and Bullion apart from the competition:
Reliable IRA Custodian:
A big positive of this bullion dealer is its experienced and reliable IRA custodian. New Direction IRA is a popular precious metals IRA custodian and has highly experienced leadership.
According to the IRS’ rules, your self-directed IRA must have a custodian. They ensure that you comply with all the necessary rules and regulations. That’s why it’s imperative to work with a reliable custodian.
Austin Rare Coins and Bullion provides a significant number of free resources on its website. They offer guides on different types of gold and silver bullion such as European bullion, silver dollars, and more.
Moreover, they have guides on Pre-1933 US coins, rare coins and ancient coins.
For consumers who want to get into rare and collectible coins, these guides can be pretty useful. Also, they offer a free portfolio package to consumers who sign up on their website.
Austin Rare Coins and Bullion Reviews:
Austin Rare Coins and Bullion has received an A+ rating on BBB. However, there are no reviews on the platform.
The Business-Consumer Alliance has given them an AAA rating, the highest possible on the platform. But there are no reviews on this platform either.
On Yelp, I found 9 reviews on the company and the average rating was 3.5 out of 5-stars.
The lack of reviews on this gold IRA firm can be concerning for some investors but their positive ratings on BBB and BCA are worthy of praise.
Is Austin Rare Coins Legit?
- Highly experienced
- Decent product selection
- Dedicated learning center
- No information on the people behind the company
- Mixed reviews
Yes, Austin Rare Coins is a legitimate company.
Austin Rare Coins and Bullion has a decent collection of IRA-eligible as well as non-IRA precious metals. They have been in the industry for several decades and provide their customers with multiple learning resources for free.
However, the company doesn’t share any information about its leadership. Also, they have received mixed reviews from consumers. A large portion of their product selection was listed “Out of Stock” as well.
Choosing the right gold IRA provider is crucial because their fees, product selection and service would impact your returns. That’s why I recommend checking out multiple precious metals dealers before selecting one.
You can learn about the best gold IRA companies of 2023 on IRAEmpire.
Have you dealt with Austin Rare Coins and Bullion? How was your experience? Share it below!