JJ Teaparty Review – A Quick Overview
JJ Teaparty is a rare coin dealer based in Virginia. They have been in the industry for over 65 years and were founded by Ed Leventhal in 1957. The company specializes in collectible coins and sells NGC and PCGS-certified coins. However, they haven’t received many reviews online and their selection doesn’t include any IRA-eligible products or services.
Pros
Cons:
Table Of Content
What is JJ Teaparty?
JJ Teaparty is a numismatic coin dealer based in Virginia. Originally, they were based in Boston, Massachusetts and have been in the numismatic industry since 1957.
Their contact numbers are:
- 617-482-2398
- 617-821-8430
- 877-772-4245
Similarly, their contact address is PO Box 69 Union Hall, VA 24176.
Founded by Ed Leventhal, the company has succeeded in establishing itself as one of the most recognized names among collectors. The company used to be limited to a single retail location and is now operating online as well.
JJ Teaparty’s representatives travel across the US to find the right numismatic coins for their clients. This includes visiting various conventions and auctions.
Although the company has been in business for more than 65 years, it hasn’t received many reviews online.
Furthermore, their selection is limited to numismatic coins, making them a terrible choice for any IRA investor. According to IRS rules, numismatic coins are ineligible for a gold IRA. Adding them to your IRA can result in severe penalties.
However, if you’re a numismatics collector, you might find JJ Teaparty to be the perfect fit for you.
People Behind JJ Teaparty:
JJ Teaparty is quite transparent when it comes to sharing information about its leadership team. This is praiseworthy considering how many bullion dealers fail to do so. For example, companies like Modern Coin Mart and DBS Coins don’t share any information about their teams on its website.
Scott D. Sparks (Owner, President)
Scott is the owner and president of this coin dealing frim. According to the website, he is a respected authority among numismatic investors.
Scott Sparks travels all over the country to gather more information about the industry. He has multiple businesses all of which have helped him become a skilled manager and leader.
Scott is a life member of the American Numismatic Association.
Melissa L. Sparks (Comptroller)
Melissa has handled the record management of various companies. She has been a part of JJ Teaparty for several years now.
Melissa Sparks manages the website, sends out emails to their customers and assists customers on the phone with their orders and payments. Like Scott, she also travels to conventions.
Can You Invest in a Gold IRA with JJ Teaparty?
No.
The company doesn’t recommend any custodians to their clients and their website doesn’t feature any IRA-specific sections.
JJ Teaparty specializes in rare collectible coins and only focuses on that aspect of precious metals investing. Although their product selection might have a few IRA-eligible coins, most of the products are ineligible.
If you’re looking for IRA investing, you can check out our top gold IRA companies and find the right fit for you.
JJ Teaparty Products:
This coin dealer focuses on rare coins and you can find various collectible coins here. There are no IRA -eligible products mentioned on their website, which can be a disappointment for retirement investors.
Investing in rare coins is different from IRA investing as their value is largely dependent on individual coins’ design, rarity and quality. Unlike IRA coins, whose price depends on the market, the price of a rare coin would depend on the individual buyer.
They are rather unpredictable in comparison to IRA bullion.
However, if you’re a collector of rare coins, the selection of JJ Teaparty can be an excellent place for you.
Some of the notable coins you can find there include:
- Buffalo Nickels
- Barber Dimes
- Liberty Seated Dimes
- Roosevelt Dimes
- Standing Liberty Quarters
- Capped Bust Half Dimes
- Flying Eagle Cents
- Lincoln Cents
- Draped Bust Dimes
- Washington Quarters
- Mercury Dimes
- Shield Nickels
And plenty more.
Certainly, their selection is focused on rare coins and is great for collectors. But for retirement investors, not so much.
JJ Teaparty Fees and Cost:
The coin dealer lists all the selling prices of their products, which is a welcome feature. There are plenty of bullion dealers who don’t list their prices on their website such as Rosland Capital and Cornerstone Bullion.
However, the company doesn’t provide any IRA services so there is no fee-related information present on their website.
Their prices vary from product to product. Also, unavailable products are absent from their website so you can get an idea of what you can buy.
JJ Teaparty Reviews and Complaints:
Although JJ Teaparty has been in the industry for more than 65 years, it hasn’t received many reviews online.
Their Yelp page has a 3.5 out of 5 stars rating based on 5 customer reviews. However, the profile hasn’t received any reviews since 2014.
The 5-star reviews praise the company for having honest practices. For example, Ben points out that the J J Teaparty pays 98% of spot price for coins, which is double of what you can get from other jewelry stores.
Ben highlights that they are a great coin shop to buy from.
Also, their BBB profile has received an A+ rating but there are no customer reviews.
Apart from these platforms, JJ Teaparty hasn’t received any reviews on other sites.
Is JJ Teaparty Legit?
Yes. JJ Teaparty is a legit coin dealer. The company has been trading rare, collectible coins with its customers since 1957.
That is a long time to survive in the competitive industry of precious metals. They have an impressive collection of collectible coins including Half Cents, Lincoln Cents and Buffalo Nickels.
The company sells PCGS and NGC-certified coins. Although they were originally based in Boston, their website indicates that they have shifted to Virginia.
JJ Teaparty has had a BBB profile since 1992 and its leadership is highly experienced in dealing rare coins.
However, the company’s selection doesn’t have any IRA-eligible coins nor do they offer any IRA services to customers. This can be a disappointment for any retirement investors.
Also, the company’s website might be a bit outdated by current standards. There aren’t many reviews on the coin dealer as well.
Summary
I recommend browsing the market before making any final decisions. You should get to know what the competition is offering to get an idea of what the market can provide to you.
Finding the right precious metals dealer can seem overwhelming. But that’s why I have gone through numerous bullion dealers and reviewed each of them on IRAEmpire. You can read my list of the best gold IRA companies here. Be sure to check it out.
Have you dealt with J J Teaparty? Share your experience below!