What is Frederick Coin Exchange?Frederick Coin Exchange Locations, Timings, Email, Phone, Services
Frederick Coin Exchange is a business that deals with buying and selling coins, currency, and precious metals, such as gold, silver, platinum, palladium, and rhodium. They are based in Frederick, MD. The company offers services like free in-person appraisals, as well as written appraisals at a fee.
Customers can schedule appointments to meet with their experts for personalized assistance. The company provides information about some of the products they offer, including various gold and silver coins and bars, on their website.
They buy and sell a wide variety of collectibles, including U.S. coins, gold & silver bullion, estate jewelry, sterling silver dish sets and flatware, baseball cards, and more. They are open to the public Tuesday through Saturday. The company claim to have knowledgeable staff who can help you get the best possible price for your items.
Address: 20 North East Street Frederick, MD 21701-5419
Phone: (301) 898-2863
Tuesday-Friday: 10 am – 5 pm
Saturday: 10 am – 3 pm
Sunday and Monday: Closed
People Behind Frederick Coin Exchange: CEO, Owner, Co-Founders & MoreWho owns Frederick Coin Exchange? What is the management team behind Frederick Coin Exchange?
Matt Lerner (Owner) at Frederick Coin Exchange:
According to LinkedIn, Matt Lerner is the proud owner of Frederick Coin Exchange. With over 20 years of experience in the coin business, Matt has honed his expertise and established himself as a prominent figure in the numismatic community. He holds memberships in two prestigious organizations, namely the American Numismatic Association (ANA) and the Professional Numismatists Guild (PNG), which further demonstrate his commitment to the industry.
As a certified coin grader by the renowned Numismatic Guaranty Corporation (NGC), Matt possesses the skills to accurately assess the quality and value of coins, ensuring that customers receive fair and reliable appraisals. Beyond his professional certifications, Matt’s passion for coins shines through in his daily work. He takes great joy in helping individuals discover the perfect additions to their collections, rare coins, historical pieces, or cherished favorites.
Matt’s dedication extends beyond his business pursuits. He is a strong advocate for education within the coin-collecting hobby, understanding that knowledgeable collectors make more informed and satisfying decisions. To contribute to this cause, Matt has authored several articles for coin magazines, sharing insights and information to support fellow enthusiasts. Moreover, he actively participates in numismatic events, speaking at coin shows and conventions, where he engages with the community, shares expertise, and fosters a love for coin collecting.
Jennifer Foss (Marketing Assistant) at Frederick Coin Exchange:
Jennifer Foss serves as a Marketing Assistant at Frederick Coin Exchange. As a marketing assistant, her role would likely involve supporting the marketing team in various tasks aimed at promoting the business and its services. Her responsibilities might include assisting with marketing campaigns, coordinating promotional activities, managing social media accounts, creating content, conducting market research, and collaborating on advertising initiatives.
Working as a Marketing Assistant at Frederick Coin Exchange could be an enriching opportunity for Jennifer to gain practical experience in the field of marketing, specifically within the context of numismatics and precious metals. The coin industry has a distinct target audience, and effective marketing strategies may require a deep understanding of the collector community, investors, and potential customers.
In her role, Jennifer would likely work closely with the marketing team and other departments to ensure that the company’s branding and messaging are consistently conveyed to the target market. This might involve contributing to the development of marketing materials such as brochures, newsletters, flyers, and promotional content that effectively showcase the company’s products and services.
She might also be involved in organizing and coordinating marketing events or trade shows where Frederick Coin Exchange can showcase its offerings and engage with potential customers face-to-face. Additionally, she might help with planning and executing digital marketing initiatives to increase the company’s online visibility and reach a broader audience.
Being part of the marketing team at Frederick Coin Exchange could provide Jennifer with valuable insights into the numismatic market and the factors that influence customer preferences and buying behaviour. This knowledge might be useful when crafting marketing campaigns and tailoring messages to resonate with collectors, investors, and precious metal enthusiasts.
Josh Kahn (Numismatist) at Frederick Coin Exchange:
Josh Kahn is a Numismatist at Frederick Coin Exchange. As a numismatist, his role would revolve around the study, appraisal, and trading of coins and currency. Numismatists are individuals with a deep passion and expertise in collecting, evaluating, and understanding the historical and numismatic significance of coins and related items.
Working as a Numismatist at Frederick Coin Exchange, Josh’s primary responsibility would likely be to assess and evaluate the coins and currency brought to the store by customers or acquired by the company for trade or sale. His expertise would be crucial in determining the authenticity, condition, and value of various numismatic items. Josh is a knowledgeable numismatist who can provide accurate and impartial appraisals for collectors looking to sell or trade their coins.
In addition to appraisals, Josh might also be involved in curating and managing the inventory of coins and currency available for sale at Frederick Coin Exchange. This could include selecting and acquiring new coins to add to the store’s offerings, ensuring a diverse and appealing selection for collectors and investors.
As a passionate numismatist, Josh might engage with customers to educate them about the unique aspects of different coins, share historical backgrounds, and offer insights into the stories behind each piece. This educational aspect is vital in fostering a sense of appreciation and understanding among collectors and enthusiasts.
Josh’s role as a Numismatist could also involve attending coin shows, auctions, and industry events to keep abreast of the latest trends, discoveries, and market dynamics in the numismatic world. Networking with other numismatists and industry professionals would contribute to staying well-informed about the evolving coin market.
Brian Knezevich (World Coin Numismatist) at Frederick Coin Exchange:
Brian Knezevich serves as a World Coin Numismatist at Frederick Coin Exchange. His role as a World Coin Numismatist would likely focus on the study, appraisal, and trading of coins from various countries and regions around the world.
As a World Coin Numismatist, Brian possesses specialized knowledge of coins from different countries, spanning various historical periods and cultures. His expertise would encompass understanding the unique designs, minting techniques, historical significance, and rarity of world coins. Brian evaluates world coins for Frederick Coin Exchange, determining their authenticity, condition, and value, using his in-depth knowledge.
Beyond appraisals, Brian’s expertise might extend to curating and managing the inventory of world coins available for sale at the store. This would involve selecting and acquiring coins from different countries, ensuring a comprehensive and appealing selection for collectors and investors with an interest in world numismatics.
As a World Coin Numismatist, Brian might engage with customers to provide educational insights into the rich histories and cultural significance of the coins they are interested in. His expertise would allow him to share fascinating stories and historical context associated with each world coin, enriching the collector’s experience.
Brian attends coin shows, auctions, and international events to keep up with the latest coin-collecting trends and acquire rare-world coins for the store’s collection, offering customers a wider selection.
Frederick Coin ExchangeProducts: Bullion Coins, Bars, And Rare CoinsAll products offered by Frederick Coin Exchange
Frederick Coin Exchange provides multiple options for getting items appraised. They offer a free in-person appraisal or the convenience of scheduling an appointment to meet with one of their experts online. Additionally, they have a free Gold and Silver Guide available on their website, providing valuable information to customers.
If you want to buy precious metals, you can contact the store to get an up-to-date quote or fix a price for a particular purchase. Unfortunately, the company does not show its current stock of products online. However, they offer an information sheet that lists some of the items they sell, like different types of gold and silver coins and bars, such as American Eagles, Canadian Maple Leafs, and South African Krugerrands, among others. Additionally, they now sell platinum, palladium, and rhodium products for some precious metals.
In addition to the free verbal appraisals, Frederick Coin Exchange offers written appraisals at a rate of $75 per hour for in-store appraisals and $150 per hour for out-of-store appraisals. It’s important to note that written appraisals typically require appointments and are usually conducted after 2:00 pm.
Overall, while the company offers various appraisal options and a diverse range of precious metal products, its website lacks a current inventory display. However, customers can access the Gold and Silver Guide for information and utilize the provided contact options to engage with their experts.
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How to Invest in Frederick Coin Exchange IRA?Step-by-step guide for investing in Frederick Coin Exchange IRA
One significant drawback of Frederick Coin Exchange is that they do not provide IRA services or offer resources for setting up a Gold IRA. As a result, customers looking to invest in precious metals for their retirement portfolio would need to look for a separate company to serve as an IRA custodian and handle the storage of the physical gold and silver, as designated by the IRS.
While Frederick Coin Exchange does offer services for buying and selling gold and silver, the absence of IRA services means that individuals interested in the tax advantages and security of a precious metal IRA would need to go through the hassle of finding a reliable and trustworthy IRA custodian elsewhere.
This limitation might discourage potential customers who prefer to have a one-stop solution for their precious metal investments, including the option to set up a Gold IRA with the same company they purchase precious metals from. For those specifically seeking IRA services, they would need to seek alternative companies that can offer a comprehensive IRA solution along with the purchase and storage of precious metals within their retirement accounts.
Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. You can find the best precious metals dealer in your state and choose accordingly.
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Frederick Coin Exchange Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
One drawback of dealing with Frederick Coin Exchange is that they do not provide prices for gold and silver online. This means potential customers cannot easily access the current market rates without contacting the store directly. To get a quote or lock in a price, individuals have to make a phone call, which may be inconvenient for those who prefer quick and easily accessible information.
Transparency is Important
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However, the company offers a bulk pricing option for gold if the quantity exceeds 20 ounces, and for silver, the bulk pricing is available for amounts of 500 ounces or more. This can be beneficial for customers with substantial quantities of precious metals, as they may get more competitive rates when dealing in larger quantities.
Companies like Augusta charge ZERO fees for up to 10 years, allowing you to choose your gold & silver. Frederick Coin Exchange on the other hand provides fewer options.
Social Media Presence of Frederick Coin Exchange:Twitter, Facebook, & Instagram
Frederick Coin Exchange YouTube:
The company has an account on Youtube. They have posted 26 videos to date. They joined YouTube on November 17, 2011. As of now, they have accumulated 28,704 views across all their videos.
Frederick Coin Exchange Facebook Page:
Frederick Coin Exchange has 135 followers with 125 likes on its Facebook account. On Facebook, the company has 4.6-star ratings with 14 reviews.
Frederick Coin Exchange Instagram Page:
Frederick Coin Exchange has an Instagram profile with 1,651 followers. Only 1,538 posts have been shared till now. Their company size is 11-50 employees. They are following 969 accounts. They joined Instagram in June 2018.
Frederick Coin Exchange Reviews and Complaints: BBB, Trustpilot, SitejabberRead all the Frederick Coin Exchange reviews & complaints
Better Business Bureau (BBB):
On the Better Business Bureau website, Frederick Coin Exchange has no star ratings with no reviews. The business has also no customer reviews. They are since 17 years in the industry. The business has an A+ rating on BBB. However, the company is not been accredited by BBB. No complaints have been filed and closed against the company.
Frederick Coin Exchange has received some complaints.
Frederick Coin Exchange 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.
On Yelp, Frederick Coin Exchange have 4.4 stars out of 5-star ratings based on 18 customer reviews. Mostly, all the reviews are positive. The customer praised their services and products. In contrast, there are some complaints too regarding products and their shipping.
On Google, Frederick Coin Exchange has 4.6 stars out of 5-star ratings based on various customer reviews. There are 257 customer reviews on Google, and most of them are positive. Customers praise the company’s excellent customer service, professionalism, and expertise.
Some Positive Reviews:
#1. According to Austin M., the coin and currency shop is excellent, and they have proven to be very strong buyers for everything he has brought to them. He wholeheartedly recommends them without any hesitation or reservation.
#2. Tom Catania expresses his positive experience, stating that as soon as he entered the store, he received immediate assistance. The associate who helped him was exceptionally friendly, professional, and knowledgeable. The purchasing process was smooth and filled with valuable information. Overall, Tom commends the associate for a great job and gives a thumbs up for the outstanding service.
#3. J. Koepp shares that they have been dealing with Frederick Coin Exchange for a couple of years now, and throughout this time, they have consistently received strong offers. Based on their positive experiences, Koepp highly recommends Frederick Coin Exchange to others.
#4. Sabrina C. expresses her fondness for the place, stating that she loves it there. The staff is exceptionally friendly, and the prices of gold are great. When you walk in, there’s an excellent selection of beautiful rings available. Additionally, the store offers complimentary drinks like sodas and coffee while you wait. This makes the whole experience even more enjoyable.
#5. Michael A. enthusiastically praises Erica, describing her as impeccable and an amazing person to collaborate with, particularly in the realm of historic and antique coin collections. He went the extra mile, driving for more than an hour, just to meet with Erica at the Frederick Coin Exchange in Frederick, MD. In Michael’s opinion, both Erica and the store deserve the highest recommendation possible, with a stellar rating of 10 stars!
Some Negative Reviews:
#1. Tiffany Richardson shared that he did not feel comfortable in the environment of this place. As a result, he had to travel all the way to Pennsylvania to receive a fair offer on their coin collection.
#2. Matthew Bigham warns others not to waste their time going to this place, as they only offer $6 over spot for silver, and on top of that, they charge tax on bullion purchases. He expresses surprise and disappointment with the deal, saying “WOW!!”
#3. Ryan C. expresses his dissatisfaction with the offer he received for his father’s coin collection, describing it as very low. Based on his experience, he does not recommend the place.
#4. Michael advises that if someone isn’t in desperate need of money, they should avoid wasting their time with this place. In his personal experience, he didn’t appreciate the extended waiting time, slow service, and the quote he received was laughable. According to him, the establishment seems to have transformed into more of a pawn shop. This was not to his liking.
#5. Mike Stuart shares his experience of inheriting some coins from his aunt’s estate and deciding to take them to this particular place to see what they would offer. However, he found the environment to be highly unprofessional, and, to his disappointment, he received a very low offer for his coins.
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Is Frederick Coin Exchange Legit? Should You Invest With Them?Is Frederick Coin Exchange a scam or legit? Are they worth it?
No, I don’t think you should invest with them.
A+ rating on BBB
Decent product selection
Not accredited by BBB
Risk of hidden fees and charges
Low online presence
Does not offer IRA services
Received many customer complaints
I believe there are plenty of better options available for you.
Frederick Coin Exchange is a precious metals dealer that has been in business since 2006. They have an A+ rating on the Better Business Bureau. However, they are not accredited by BBB. The company also has a 4.4 rating on Yelp and a 4.6-star rating on Google Reviews.
Whether or not this company is legitimate is a matter of opinion there was no publicly available information about its founder and owner.