Gaithersburg Coin Exchange Review – A Quick Overview
Gaithersburg Coin Exchange is a precious metals company based in Maryland. They have been in the industry for nearly 50 years. However, the company doesn’t offer any IRA services. Furthermore, it doesn’t have a BBB accreditation and has received complaints for poor customer support.
- Over 50 years of experience
- Affiliated with NGC
- No Better Business Bureau accreditation
- Lack of transparency
- No gold IRA services
- Mixed reviews from customers
What is Gaithersburg Coin Exchange?
Gaithersburg Coin Exchange is a well-established coin dealer located in Gaithersburg, Maryland. The company has been in business since 1972 and has built a strong reputation for its expertise in rare coins and precious metals.
In addition to selling rare coins for collectors, the company also offers a variety of bullion products, including gold and silver bullion. The company’s buyback policy is also an important aspect of its services, as it allows customers to sell their precious metal items back to the company at fair market prices. This company is a reputable and reliable resource for those looking to buy or sell rare coins and precious metals in the Maryland area.
People Behind Gaithersburg Coin Exchange:
Mr. Mark Watson is both President and CEO of Gaithersburg Coin Exchange. The limited information available about the company’s management structure suggests that Gaithersburg Coin Exchange is likely a small-scale operation. Gaithersburg Coin Exchange does not disclose any information about its leadership team.
Can You Invest in Gaithersburg Coin Exchange IRA?
No. They don’t provide any Gold IRA or related services. Gaithersburg Coin Exchange focuses solely on buying and selling precious metals and coins to customers.
If you’re an IRA investor, it would be best for you to check out the product selection of a more IRA-focused firm such as Augusta Precious Metals.
Their staff has extensive experience in helping customers open and invest in gold IRAs. Hence, they might be suitable for you too.
Gaithersburg Coin Exchange Products:
Gaithersburg Coin Exchange offers a range of products for both collectors and investors, including:
- Rare Coins: The company specializes in rare and collectible coins, including U.S. coins, world coins, and ancient coins. They offer coins in a variety of grades and price ranges to accommodate the needs of collectors at all levels.
- Bullion Products (Silver & Gold): Gaithersburg Coin Exchange also offers a variety of bullion products for investors. Including gold and silver bars, coins, and rounds from reputable mints.
- Certified Coins: The company specializes in rare and collectible coins. Including certified coins that have been professionally graded and authenticated by third-party grading services such as PCGS and NGC.
- Loose Coins: In addition to certified coins, Gaithersburg Coin Exchange also offers loose coins for collectors. These coins may not be professionally graded or authenticated but are still of interest to collectors for their rarity, historical significance, or other unique attributes.
- Appraisals and Grading: The company provides professional appraisal services for rare coins and other collectibles. They also offer grading services to determine the condition and authenticity of coins and other items.
- Sell to Gaithersburg Coin Exchange: If you are looking to sell your rare coins or precious metals, this company offers fair market prices and a buyback policy for a variety of items, including old jewelry, coin collections, and currency collections.
This business provides a comprehensive range of products and services for both collectors and investors in the numismatic and precious metals markets. The company offers a diverse range of gold and silver bullion products. Also, they offer certified and loose coins for collectors.
Gaithersburg Coin Exchange Fees and Charges:
No specific information about the company’s fees and charges is publicly available on its website. It is best to contact the company directly to inquire about their specific fees and charges for the products and services they offer.
Gaithersburg Coin Exchange Reviews and Complaints:
- Business Consumer Alliance (BCA) Ratings: The company has a B rating on this website. With 0 customer reviews.
- Better Business Bureau (BBB) Ratings: Gaithersburg Coin Exchange has A+ Ratings on BBB. This business has 0 reviews and 0 complaints.
- Yellow Pages: They have their profile on Yellow Pages too. They are since 4 years with Yellow Pages.
- Yelp: This business consists of 3 stars out of 5 stars on Yelp. With only 9 positive and negative customer reviews.
According to Danny B., the company has a decent collection of silver coins. Including Australian and US 1-ounce silver dollars. However, the prices seem a bit high, but it’s understandable that they need to make a profit. The staff member who assisted him was amicable. However, the selection of gold coins was relatively limited.
Elizabeth R. has had a positive experience with the company. She frequently visits the store with her children and finds the staff to be extremely nice. She also praises the manager and is surprised by negative reviews claiming the staff is rude or unprofessional. In her experience, the staff has been nothing but friendly and professional.
Ronin B. warns potential customers of Gaithersburg Coin Exchange to “buy at your own risk.” According to Ronin, the store has a policy of closing its doors and refusing to sell gold or silver if the price drops by more than 5%. Additionally, Ronin claims that the last three bars they purchased did not test the purity stamped by recognized assayers. Ronin alleges that the store takes customers’ money when the spot price is up. But refuses to sell when the spot price is low. Finally, Ronin claims that the store does not check the quality of the bullion they sell.
Lynn W. had a negative experience with these people. The store did not open on time and the staff appeared more interested in chatting with each other than assisting her, the only customer present. The process of selling her silver was slow, and the staff did not seem knowledgeable about current market values. The owner even approached her car to criticize her parking. Lynn W. was shocked by the poor treatment from both the staff and the owner and vowed to never return to the business again.
- Google Reviews: The company is also listed on Google. Gaithersburg Coin Exchange has a total of 83 reviews with 3.9 stars ratings out of 5 stars.
Is Gaithersburg Coin Exchange Legit?
Gaithersburg Coin Exchange appears to be a legitimate and reputable business that has been serving the precious metals and rare coins industry for nearly 50 years. The company has been in business since 1972 and has a long-standing reputation in the precious metals and rare coins industry. The company has an A+ rating with the Better Business Bureau (BBB) and has received numerous positive reviews from satisfied customers on various review sites.
In addition, Gaithersburg Coin Exchange is an authorized dealer for the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC), two of the most reputable third-party grading services in the industry. This means that the company has been vetted and authorized to sell coins that have been professionally graded and authenticated by these services.
However, it doesn’t have a BBB accreditation. This can be a huge red flag, especially when all major gold IRA companies are BBB accredited.
Furthermore, the company has received plenty of complaints for having predatory practices. These complaints can be alarming for any potential investor.
Should You Invest with Gaithersburg Coin Exchange?
Deciding whether to invest with these people ultimately depends on your personal investment goals and preferences. Personally, I don’t think they are the best service provider in the industry.
While the company has a long-standing reputation in the precious metals and rare coins industry and generally positive reviews from customers, there are some potential drawbacks to consider such as the lack of information about the management structure and the absence of online ordering.
Before making any investment decisions, it’s important to do your own research and due diligence and to only work with reputable dealers that have a solid track record in the industry. Consider comparing this company with other precious metals and rare coins dealers to ensure that you are getting the best value for your investment.
I recommend checking out our list of the top gold dealers of 2023. There, you can find the best precious metals company for your state, ranked by experts.
Alternatively, have you dealt with Gaithersburg Coin Exchange? Share your experience below!