LCR Coin is a relatively new bullion dealer in the industry. It has an impressive product selection but they are not the best. Check out our top recommendations to see what the industry leaders have to offer.
What is LCR Coin?LCR Coin Locations, Timings, Email, Phone, Services
LCR Coin is a well-established family-run company based in Dripping Springs, Texas, with an impressive track record spanning 2 years. They are since 2021 in this industry. Renowned for its expertise in the field, LCR Coin has become a trusted source for a variety of numismatic offerings, including Certified Graded Rare Coins, Modern Graded Coins, and Gold and Silver Bullion. Additionally, the company is recognized for curating Legacy Collections.
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To cater to investors, LCR Coin maintains a user-friendly website that allows individuals to securely browse through a wide selection of numismatic coins. Visitors can create wish lists, verify coin certifications through trusted authorities like NGC or PCGS, and enjoy a hassle-free shopping experience for precious metals. LCR Coin prides itself on consistently delivering accurate information, high-quality products, exceptional services, and unparalleled customer support.
LCR Coin holds the distinction of being an authorized dealer and a member of esteemed organizations and associations within the precious metals industry. These include:
These affiliations further reinforce LCR Coin’s commitment to upholding industry standards and providing customers with a reputable and trustworthy platform for their numismatic and precious metal investments.
WORKING HOURS: Mon – Fri / 8:00 AM – 4:00 PM CST
People Behind LCR Coin: CEO, Owner, Co-Founders & MoreWho owns LCR Coin? What is the management team behind LCR Coin?
According to BBB, Louis Palafoutas serves as the President and Director of LCR Coin, contributing his leadership and expertise to the company’s operations. Further, no information is available about its management team and members on its official website.
The absence of detailed information about the management team on the official website could potentially be seen as a limitation in terms of transparency. Transparent communication regarding the leadership and team members of a company can help build trust and provide stakeholders with a better understanding of the individuals responsible for its operations and decision-making processes.
Transparency is Important
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To address this potential concern, it would be beneficial for LCR Coin to consider enhancing transparency by including a section on its website that introduces key members of the management team. This section could highlight their experience, qualifications, and roles within the organization. By doing so, LCR Coin would provide stakeholders with a clearer picture of the team behind the company and demonstrate its commitment to transparency and accountability.
To gather the most up-to-date and accurate information about LCR Coin’s management team, I recommend reaching out to the company directly through their provided contact channels. You can inquire about the composition of their management team and any other relevant details you may be interested in.
LCR Coin Products: Bullion Coins, Bars, And Rare CoinsAll products offered by LCR Coin
LCR Coin presents a diverse range of precious metals that cater to varying budgets and motivations for purchase. It’s important to note that coins typically carry a higher price compared to bars.
Here are the available options offered by LCR Coin:
Gold Bars: Gold bars are highly sought after by investors and serve as a convenient and liquid investment. They can act as a safeguard against inflation. LCR Coin provides a selection of gold bars in different sizes and purity levels to accommodate various budgetary considerations.
Silver Bars: Silver has historically served as a stable store of value for centuries. LCR Coin offers a variety of silver bars, all boasting a purity of .999 silver. Each silver bar comes with a certificate of authenticity, ensuring its quality and origin.
Platinum Coins and Bars: For those interested in platinum investments, LCR Coin offers an array of platinum coins and bars. You can choose from a range of sizes, including 1 oz, 5 oz, 10 oz, 100 oz, and 1000 oz. All platinum coins and bars provided by LCR Coin maintain a purity level of .9995 platinum.
Gold and Silver Coins: LCR Coin also presents a selection of gold and silver coins. These coins possess a purity level of .9999 gold and silver and come with certificates of authenticity. Investing in these coins allows you to diversify your portfolio with precious metals in a tangible form.
Various Services offered by LCR Coin include:
Certified Modern Coin Sets
Estate Privacy and Liquidity
Gold and Silver Bullion Bars and Coins
IRA Gold and Silver Rollover Kits
New Coin Collecting Portfolios
Portfolio Coin Collections
Proof of Gold and Silver
Rare Coin Acquisitions
Rare Coin Auction Consulting
Rare Coin and Collection Liquidations
Submitting Coins for Grading
By offering a comprehensive range of products and services, LCR Coin aims to meet the multifarious needs of investors and collectors in the precious metals market. These services provide customers with a comprehensive suite of options to enhance their numismatic and precious metal investment endeavors.
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How to Invest in LCR Coin IRA?Step-by-step guide for investing in LCR Coin IRA
To invest in an LCR Coin, follow these general steps:
Open a Self-Directed IRA Account: Fill out an IRA form to open a self-directed IRA account with one of their trusted custodian partners. You’ll also need to choose an IRA-approved storage facility for your precious metals.
Fund Your IRA Account: Once your self-directed IRA account is set up, work with your custodian to fund your account with cash, rollover funds, or a combination of both.
Choose Your Precious Metals Products: LCR Coin offers a selection of IRA-approved precious metals products, including gold, silver, platinum, and palladium coins and bars. Choose the products you want to invest in.
Place Your Order: Place your order with them for the selected precious metals products. You’ll receive a quote with the total cost of your order, including applicable fees.
Direct Your Custodian to Make the Purchase: After placing your order, you’ll need to direct your custodian to make the purchase on your behalf. Your custodian will provide you with the necessary paperwork to complete this step.
Store Your Precious Metals: Once your purchase is complete, LCR Coin will ship your precious metal products to your chosen IRA-approved storage facility for safekeeping.
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 in 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.
LCR Coin Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
LCR Coin has implemented a shipping fee policy exclusively for orders below $99. In such cases, customers will be subject to a shipping fee. However, it is true that LCR Coin’s website does not explicitly disclose the specific shipping fees applicable to orders below this threshold. This lack of transparency regarding shipping costs for such orders could potentially create uncertainty for customers when estimating the total expenses associated with their purchase.
Additionally, it is important to mention that apart from the information regarding shipping fees, LCR Coin’s website does not provide any other comprehensive details regarding additional fees that customers may incur during their transactions. The absence of comprehensive fee information may result in customers being unaware of any potential charges beyond the cost of the items themselves, such as handling fees or other miscellaneous expenses.
To obtain accurate and up-to-date information about shipping fees and any other potential charges, it is recommended that customers reach out to LCR Coin directly. Contacting their customer support or inquiring about the specific fee structure will ensure a clear understanding of the financial aspects associated with purchasing from LCR Coin.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. LCR Coin on the other hand provides fewer options.
LCR CoinReviews and Complaints: BBB, Trustpilot, SitejabberRead all the LCR Coin reviews & complaints
Better Business Bureau (BBB):
On the Better Business Bureau website, the LCR Coin has an A rating with no customer ratings or reviews. They are since 2 years in the industry. This business has 0 complaints. They are not BBB accredited on Better Business Bureau website.
An A rating is the highest rating given by the BBB. It signifies that the business has a good track record of addressing customer concerns, providing satisfactory customer service, and demonstrating ethical business practices. A rating reflects a high level of trustworthiness and reliability.
Non-accreditation means that the business has not sought accreditation from the BBB or has not met the criteria for accreditation. Accreditation is an optional program offered by the BBB, where businesses can voluntarily undergo a review process and adhere to specific standards of ethical business behavior. Non-accreditation does not necessarily indicate poor business practices or a negative reputation. It simply means that the business has chosen not to participate in the BBB’s accreditation program or has not met the necessary requirements for accreditation.
An A rating signifies a positive reputation based on the BBB’s evaluation of the business’s customer interactions, while non-accreditation indicates that the business has not sought or achieved accreditation from the BBB.
On Shopper Approved, the company has 4.9 stars out of 5-star ratings based on 3,884 customer reviews. Mostly all the reviews presented are positive. The customers are praising the company’s knowledge, rapid shipping time, and its true staff.
On the Trustpilot website, the LCR Coin has 4.6 stars out of 5-star ratings based on customer reviews. There are 107 customer reviews on the website, and most of them are positive, with customers highly appreciating the company’s exceptional customer service, professionalism, and expertise. Here, the company is at an excellent stage.
Excellent ratings on Trustpilot indicate a high level of customer satisfaction and positive experiences with a particular business or service. Trustpilot is an online review platform where customers can share their feedback and rate their experiences with various companies.
An excellent rating on Trustpilot typically signifies that a significant number of customers have had positive interactions with the business, resulting in favorable reviews and high ratings. It reflects a strong reputation for delivering quality products or services, exceptional customer service, and meeting or exceeding customer expectations.
Trustpilot ratings are based on the collective opinions and experiences of customers who voluntarily share their feedback. An excellent rating indicates that the majority of customers who have reviewed the business on Trustpilot have had highly satisfactory experiences and would recommend the business to others.
On SiteJabber, the LCR Coin has 5 stars out of 5-star ratings based on only 2 customer reviews. The reviews given are favorable, with customers commending the company’s customer service, knowledge, and prompt delivery.
On Google, the company has 4.8 stars out of 5-star ratings based on customer reviews. There are a total of 158 customer reviews on Google, and most of them are positive, with customers praising the company’s excellent customer service, professionalism, and expertise.
Some Negative Customer Reviews:
#1. Peter Bierwirth highlights problems with the LCR Coin website: tracking feature not working, complicated ordering process, preference for invoice-based purchases, and absence of a “four-plan” payment option.
#2. George W. expresses his inability to rate LCR Coin due to not receiving the product yet. He also voices uncertainty about the electronic check payment process, as he did not provide banking details. He encountered difficulties when entering his password, receiving repetitive error messages. George finds the status of his purchase completion to be confusing and lacking clarity.
Some Positive Customer Reviews:
#1. John B. highlights the exceptional communication standards observed in his transactions with LCR Coin. He commends the company for consistently offering products that are fairly priced and delivered in excellent condition. Doing business with LCR Coin has been a pleasurable experience for John, emphasizing the positive rapport established through their communication and the overall satisfaction derived from their transactions.
#2. Larry Tjomsland acknowledges that there was a lack of communication on their part regarding the confirmation of order #17757. They express gratitude for the delivery and apologize for not informing LCR Coin earlier about its arrival.
#3. Bobby Houseknecht commends LCR Coins for their excellent pricing and superb quality. They express satisfaction with the faster-than-estimated delivery. Bobby highly recommends LCR Coins based on their positive experience.
#4. Ken B. expresses his positive experience with LCR Coin, stating that the service was great. He describes the products as awesome and highlights the shorter-than-expected wait time for receiving the product. Ken highly recommends LCR Coin for their outstanding personal service, fantastic products, and the value they offer for gold and silver purchases. He believes that LCR Coin, Inc. is the best choice for making such investments.
#5. Grant C. enthusiastically shares his positive experience after being referred to LCR Coin by a family friend. He considers it the best referral he has received thus far. Grant C commends LCR Coin for its impressive selection of products and its commitment to customer satisfaction. He encourages others to stop wasting time and conduct their business with LCR Coin, indicating high levels of satisfaction and a recommendation to engage with the company.
Is LCR Coin Legit? Should You Invest With Them?Is LCR Coin a scam or legit? Are they worth it?
No, I don’t think you should invest with them.
Decent product selection
Affiliated with notable industry organizations
Lack of transparency
Not a BBB accredited business
However, that’s mainly because I believe there are plenty of better options available for you.
LCR Coin is a legitimate bullion dealer. But, the company has too many red flags.
Before you make any decision, I suggest you check out our best gold IRA companies of 2023. There, you can find what the industry leaders have to offer.
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