Camino Coin Company is a precious metals dealer and retailer based in Burlingame, California, near San Francisco. Founded in 2007, the company specializes in offering a wide range of precious metal products to its customers.
Their inventory includes various forms of bullion and numismatics, such as silver, gold, platinum, and palladium coins, bars, and rounds. They provide services such as product selection advice, consultations, secure storage, appraisals, IRA transfers, and asset diversification.
The company claims to offer competitive prices, high-quality products, and excellent customer service to its clients.
One of the key services provided by Camino Coin Company is assisting clients in establishing precious metals Individual Retirement Accounts (IRAs).
They work with preferred IRA custodians like GoldStar Trust Company and New Direction IRA to help customers set up and manage self-directed IRAs that involve precious metals investments.
In terms of storage, Camino Coin has partnered with CNT Depository Services to provide secure storage options for customers who wish to store their precious metals in a professional and safe facility.
In addition to buying and selling bullion and numismatics (rare coins), Camino Coin Company also deals in other collectible items such as currency, stamps, and sports memorabilia.
This expanded range of offerings suggests that the company caters to a broader collector market, providing customers with the opportunity to acquire and trade not only precious metals and rare coins but also collectible currency, stamps, and sports memorabilia.
People Behind Camino Coin Company:
The company’s website does not provide explicit details about its leadership team. According to the LinkedIn profile of Adriana Reed, people get to know that she is Head Trader and Office Manager at Camino Coin Company.
The transparency factor plays an important role in establishing trust and providing clear information about a company and its leadership team.
However, in the case of Camino Coin Company, its website does not explicitly provide details about its leadership team. This lack of transparency may make it difficult for customers or stakeholders to know who is responsible for the company’s operations and decision-making processes.
To invest in a precious metals IRA through Camino Coin Company, here are the general steps:
Open a Self-Directed IRA
Select an IRA company that handles opening precious metals IRA accounts and fill out an application. You can work with Camino Coin to recommend an IRA company and provide the necessary paperwork. However, I don’t recommend doing so.
Fund Your IRA
Once you have selected an IRA company, you can move your funds into your new IRA account. You can work with the IRA company representative to transfer or rollover funds into the new account.
Select a Precious Metals Dealer
One of the forms you need to fill out along the way is typically called a Buy Direction Letter. This is where you list the precious metals dealer you have selected.
Decide Which Precious Metals to Purchase
You can choose to invest in gold, silver, platinum, or palladium for your IRA. There are some restrictions regarding fineness requirements and allowable coin types, so it’s important to get guidance from Camino Coin Company in this area.
Place Your Order
Once the funds are available in your IRA account, you can call them to place your order for the desired precious metals.
However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.
Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer of your state and choose accordingly.
Also, the list will help you understand what the industry’s best has to offer and what you might miss out on.
Camino Coin Company Products:
Camino Coin Company offers a wide range of products related to precious metals. While the availability of specific items may vary, here are some of the products typically associated with Camino Coin Company:
Bullion and Bars: Camino Coin Company offers bullion and bar products in different precious metals, including gold, silver, palladium, and platinum. These may include bars, rounds, and coins in various sizes and weights.
Numismatics: The company also deals in numismatic items, which are rare and collectible coins. This may include vintage coins, limited editions, and coins with historical significance.
Coins: Camino Coin Company provides a selection of coins from various countries and mints. This may include popular coins like the Gold Canadian Maple Leaf, Silver American Eagle, Gold Austrian Philharmonic, and more.
IRA-Approved Coins: Camino Coin Company may offer a range of coins that are approved for inclusion in self-directed Individual Retirement Accounts (IRAs). These coins meet specific criteria outlined by the IRS for retirement account investments.
Collectable Currency: In addition to precious metals, Camino Coin Company deals in collectable currency. This may include rare banknotes, historical currency, or currency with special features.
Stamps and Sports Memorabilia: As per your previous information, Camino Coin Company also deals in collectable stamps and sports memorabilia, expanding their offerings beyond precious metals.
It’s important to note that product availability may vary over time, and it’s advisable to visit Camino Coin Company’s website or contact them directly for the most accurate and up-to-date information on their current product offerings.
Camino Coin Company Fees and Charges:
When it comes to fees, Camino Coin Company charges flat fees rather than scaled fees, providing transparency and clarity to investors.
However, they don’t disclose any fee-related information on their website.
Certainly, it can be a huge drawback for most investors because it increases the risk of facing ‘hidden charges’.
For secure storage of precious metals, the company has partnered with CNT Depository Services, ensuring the safekeeping of clients’ investments. Additionally, Camino Coin Company has established partnerships with GoldStar Trust Company and New Direction IRA as custodians, offering investors reliable options for their self-directed IRAs.
At Camino Coin Company, they offer flexible payment options to accommodate their customers’ preferences. The company accepts various forms of payment, including cash, checks, wire transfers, and cashier’s checks. However, it’s important to note that credit card payments require additional verification checks and do not qualify for any discounts.
To ensure the security of transactions, the company holds all forms of payment. However, there’s an exception for wire transfers a minimum of 5 business days. This allows sufficient time for the funds to clear before proceeding with the order. For shipping, the business utilizes USPS Registered Mail for all shipments.
This ensures the package is fully insured. Shipping fees are based on the order value. Orders under $10,000 are subject to a $30 fee for shipping and insurance. On the other hand, orders exceeding $20,000 qualify for free shipping and insurance.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver.
On Yellow Pages, Camino Coin Company has 5 out of 5-star ratings based on only 1 customer review. The review is positive. The customer is praising the company’s knowledgeable and friendly staff, quick shipping, and competitive prices.
On Google, Camino Coin Company has 3.9 stars out of 5-star ratings based on customer reviews. There are a total of 37 customer reviews on Google, and most of them are positive, with customers praising the company’s excellent customer service, professionalism, and expertise.
Business Consumer Alliance (BCA):
On BCA, Camino Coin Company has no star ratings. There they have an AAA company rating. In the context of the Business Consumer Alliance (BCA), an AAA company rating represents the highest possible rating assigned to a business by BCA.
Better Business Bureau (BBB):
On the Better Business Bureau website, Camino Coin Company has an A+ rating and 3.5 stars out of 5-star ratings based on only 2 customer reviews. There are both mixed positive and negative reviews. They have been in the industry for 15 years. No complaints have been closed or filed in the last 3 years. This business is also BBB accredited.
On Yelp, Camino Coin Company has 3.5 stars out of 5-star ratings based on 44 customer reviews. Reviews given by customers are a mixture of both positive and negative customer ratings.
On the Trustpilot website, Camino Coin Company has 4.4 stars out of 5-star ratings based on customer reviews. There are 90 customer reviews on the website. Mostly all of them are positive. Customers highly appreciate the company’s exceptional customer service, professionalism, and expertise.
Are There Any Camino Coin Company Complaints? Should You Be Concerned?
Yes, like any other company Camino Coin Company has also a few complaints from its customers.
Most of the complaints allege that the company has poor customer support. Several of the reviewers have complained about receiving rude service from Camino Coin’s staff.
Additionally, some complaints say that their website has many technical issues.
Camino Coin Company has received many complaints on Trustpilot
CCC has received several unresolved complaints from customers. There are also several unresolved negative reviews on different platforms. Our #1 rated gold IRA company has ZERO unanswered complaints on BBB.
The lack of transparency regarding fees and charges on their website can make it difficult for customers to make informed decisions about their purchases. Additionally, the company’s decision to hide information about its founder, owner, and management team may raise doubts about its credibility and trustworthiness.
The frequent unavailability of high-demand items can be frustrating for customers who have specific products in mind. Moreover, the presence of coins that are ineligible for IRA inclusion may limit the options for customers looking to establish or diversify their precious metals IRAs.
Some Negative Reviews from various online business rating websites:
#1. Marianne K. recalls visiting the establishment when the owners were in charge and had positive experiences. However, around six months ago, when Marianne visited again, neither of the owners were present, and the individual attending to them was extremely rude. Encountering the same situation when attempting another visit last week, Marianne decided to leave without conducting any business. As a result, Marianne expresses disappointment and states that they will not return to the establishment again, which is regrettable.
#2. Mike expresses his disappointment as he states that he never received the coins he had ordered. He provides an update by mentioning the order number as SO254.
#3. Ken expresses his frustration with the website, stating that he found it challenging to navigate. He describes the experience as being impossible to place an order due to the difficulties encountered on the website.
#4. Julie Byrnes shares her experience of placing an order several months ago. Afterward, she sent an email inquiring about the order and was informed that she would receive information on how to proceed with a bank transfer. However, Julie never received the requested information, leading to a lack of progress in the transaction.
#5. CC reports their experience of purchasing items through a wire transfer, highlighting a complete lack of communication from the seller’s end. Despite making numerous phone calls, it took a frustrating three weeks to finally receive the items. Throughout the process, the communication from the seller was consistently poor and rude, displaying unprofessionalism. As a result, CC does not recommend engaging with this seller.
Some more negative reviews:
#1. According to Arturo Fonseca, the experience was unsatisfactory, leading them to decide not to use the service again. They faced significant delays in receiving assistance and completing their purchase, prompting Arturo to opt for a local metals specialist instead.
#2. Harry and Helen B. had a disappointing experience where they received a grade lower than what they had initially ordered. Instead of promptly rectifying the situation, the owner attempted to insist on providing a refund. This prolonged process caused inconvenience, and Harry and Helen had to explicitly decline the refund in order to persuade the owner to correct their “error (?)”. Due to this ordeal, Harry and Helen do not recommend the establishment to others.
#3. Craig Holland refrains from commenting on the specific value of purchasing anything in this context. However, if you are seeking to have old coins appraised, he suggests that it might be more advantageous to melt them down and sell the raw metals instead.
#4. According to J Lii, they arrived at the location just 30 minutes before the scheduled closing time of 4:30 pm. However, they encountered a rude staff member who informed them that the establishment had closed early that day. This was despite J Lii having made a phone call just 10 minutes before arriving, presumably to confirm the closing time.
#5. P.M strongly advises against conducting any business with this company, citing the staff’s highly unprofessional behavior, including that of the owners. Initially, they provide incorrect information when placing an order, only to cancel the order when it comes time to make the payment. When seeking an explanation, they provide illogical and untrustworthy reasons, resulting in a deeply unsatisfactory and unreliable service experience.
Some Positive Reviews from various online business rating websites:
#1. According to Joe C, his experience of buying and selling with Camino was exceptionally smooth and effortless. He describes Camino as being extremely easy to work with, and the transactions were seamless.
#2. Weesam H. expresses satisfaction with the assistance received from Kyle during their second visit to the shop. Kyle not only provided everything they needed but also went above and beyond their expectations. Kyle shared valuable information regarding the spot price and the difference when purchasing gold from a jewelry store. Weesam H. states that they will definitely return to this shop in the future.
#3. According to Aszie G., Camino Coin is an established presence on Broadway Avenue. While Aszie has been visiting for eight years, Camino Coin has been a fixture in the community for decades.
Aszie always finds a reason to visit, whether it’s to explore their latest arrivals or simply to peruse the community event posters they proudly showcase. Aszie enthusiastically recommends checking out Camino Coin and experiencing everything they have to offer.
#4. Jonathan M. highly praises the business, emphasizing the excellent service provided. Specifically, Jonathan had a positive experience with Kyle, who offered great assistance during his purchase. Jonathan confidently declares this establishment as the best coin shop in the Bay area, showcasing their high quality and customer satisfaction.
#5. Blake Esqueda expresses their satisfaction with a great experience at Camino Coin Co., highlighting the friendly atmosphere and helpfulness of the staff. They had wonderful service and found good deals during their visits. Blake specifically praises Kyle for his passion in ensuring customers have the best possible experience.
On 13 November 2019, The Burlington Insurance Company filed a contract debt collection lawsuit against Camino Coin Company.
Is Camino Coin Company Legit? Should You Invest With Them?
No, I don’t think you should invest with them.
Decent product selection
Partnered with reputed IRA custodians
Risk of hidden fees
High-demand items are frequently out of stock
Lack of transparency
Multiple complaints with serious allegations
There are certain factors that may raise concerns about the legitimacy and transparency of Camino Coin Company. These include the lack of information about fees and charges on their website. The absence of details about the company’s founder, owner, and management team, and the limited reviews on online business rating platforms.
So, while I would CCC is a prominent gold IRA provider, they are certainly not the best.