Legacy Coins and Capital is a precious metals dealer which only buys and sells gold and silver products. They have a very limited online presence and have received plenty of complaints on consumer platforms.
Legacy Coins and Capital, founded in 2007, is a company based in Plainview, NY. Legacy Coins and Capital is a company that specializes in providing gold and silver coins for retirement savers and collectors. They offer a catalogue of coins that are eligible to be held in a Precious Metals IRA. This suggests that these coins can be used as part of a retirement savings strategy.
Legacy Coins and Capital has partnered with Sterling Trust Company, an IRA custodian, which indicates that they may assist customers in setting up and managing Precious Metals IRAs. Additionally, the company offers storage options through the Delaware Depository, which suggests they can facilitate secure storage for the purchased coins. Legacy Coins and Capital does not provide platinum or palladium coins in their catalogue. Their focus seems to be primarily on gold and silver coins.
People Behind Legacy Coins and Capital:
According to its website, Anthony Grillo, Bruce Gordon, and Howard Frydman are the three owners of Legacy Coins and Capital. They all bring decades of experience and expertise to their leadership role within the company.
How to Invest in Legacy Coins and Capital IRAs?
To invest in Legacy Coins and Capital IRAs, you would typically follow these general steps:
Research and Understand: Begin by familiarizing yourself with Legacy Coins and Capital’s IRA investment options, policies, and procedures. Read their reviews to start.
Establish an IRA Account: If you don’t already have an IRA account, you’ll need to open one. Legacy Coins and Capital may have a recommended custodian for their IRAs, such as Sterling Trust Company. Contact the custodian to initiate the account opening process, provide the necessary documentation, and follow their specific requirements.
Fund Your IRA: Once your IRA account is established, you’ll need to fund it. This typically involves transferring funds from an existing IRA, rolling over funds from a 401(k) or other retirement account, or making contributions directly to the IRA. Consult with your custodian to understand the funding options and any associated fees or tax implications.
Select and Purchase Coins: With your IRA account funded, work with Legacy Coins and Capital to select the specific coins you wish to purchase. Ensure that the coins you choose are eligible for inclusion in a Precious Metals IRA. Legacy Coins and Capital may provide guidance on suitable options based on your investment objectives.
Complete the Purchase: Coordinate with Legacy Coins and Capital to finalize the purchase of the selected coins. They will guide you through the process, including pricing, payment, and delivery arrangements.
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.
Legacy Coins and Capital Products:
Legacy Coins & Capital offers a diverse inventory that includes a selection of gold and silver coins eligible for IRA accounts, pre-1933 gold coins, and collectable coins. However, it’s important to note that platinum and palladium coins are currently unavailable in their offerings. When it comes to gold options, retirement savers have the choice of American Gold Buffalo and American Gold Eagle coins. For those interested in silver, Legacy Coins & Capital provides the American Silver Eagle coin as an option.
Legacy Coins and Capital Fees and Charges:
The information about its fees and charges is limited on its website. The company charges a flat fee of $65 annually for its services. However, there is no additional information available on their fees and charges.
For secure storage of precious metals, Legacy Coins & Capital has partnered with the Delaware Depository. This partnership allows customers to store their metals in a trusted storage vault, providing peace of mind regarding the safety and security of their investments.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. Learn more below:
On the Better Business Bureau website, Legacy Coins and Capital has A+ ratings based on zero customer reviews. They are since 16 years in the industry. A total of 0 complaints have been closed in the last 3 years. This business is BBB accredited on Better Business Bureau website.
On Google, Legacy Coins and Capital has 4.8 stars out of 5-star ratings based on various customer reviews. There are a total of 40 customer reviews on Google. Most of them are positive, with customers praising the company’s excellent customer service, professionalism, and expertise.
On Yellow Pages, Legacy Coins and Capital has only 1 star out of 5-star ratings based on only 1 customer review. The review presented is negative. The customer is criticizing the company’s knowledge, slow shipping time, and its false staff.
Are There Any Legacy Coins and Capital Complaints? Should You Be Concerned?
There have been some complaints mentioned about the company. One customer expressed dissatisfaction regarding the handling of their coin and the lack of transparency during the assessment process. However, it’s important to note that these are isolated incidents and may not reflect the overall experience of all customers.
Still, it can be a major red flag for most investors.
LCC has received several complaints on Google
LCC 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.
To make an informed decision, potential investors should weigh the available information, including any complaints or concerns, along with other factors such as the company’s reputation, range of services, and customer feedback. I believe it’s better to conduct thorough research and consider alternative options that have a more established and positive presence in the industry.
Some Negative Customer Reviews From Various Online Business Rating Websites:
#1. Sue had a regrettable experience with this company, leading her to express her dissatisfaction and reluctance to recommend the company. When she visited them with a gold coin inherited from her grandmother, she had no prior knowledge about its authenticity.
However, after handing her coin to Murray, he swiftly walked away with it, leaving Sue unable to see the evaluation or the tests being conducted. Despite hearing comments about her coin’s authenticity, she was not allowed to witness the process or know what happened to her coin.
Sue, who typically prefers services where work is done in front of the customer, was deeply upset by Murray’s actions and cannot recommend this company based on her distressing experience.
#2. Christopher Curry shares his dissatisfaction with Legacy Coins & Capital LLC, specifically regarding the late delivery of the items he ordered. The company acknowledged the delay and claimed to include a free gift as an apology.
However, upon receiving the package, Christopher discovered that there was no free gift included, or it had gone missing during shipping. This experience left him far from thrilled. Prompting him to advise others to think twice before engaging with Legacy Coins & Capital LLC.
Some Positive Customer Reviews From Various Online Business Rating Websites:
#1. Marc L. expresses his satisfaction with the services provided by Bruce and Anthony. Marc tells the transaction was smooth and seamless. He commends Bruce and Anthony for their high level of professionalism and expertise. Marc even states that he plans to return to them for future transactions, indicating his trust and confidence in their services.
#2. William Skarren had a remarkable experience with LCC. After contacting them and speaking with Anthony, he found him to be a great guy who was highly professional. During his visit, Anthony even assisted William in carrying his coins. They spent over three hours together, meticulously reviewing and pricing each coin.
#3. Josephine Estrada had a meeting with Bruce in September to discuss her husband’s coin collection. Bruce meticulously examined the coins and provided knowledgeable assessments. Although Josephine had anticipated a higher return on her coins, she valued Bruce’s attentive approach in addressing her regrets about selling specific coins.
#4. Patti had an outstanding experience with LCC while searching for a last-minute coin gift for a military person. When Patti spoke with Bruce, he promptly assessed his inventory while they were on the phone. Fortunately, Bruce had exactly what Patti was looking for. Within minutes, Patti drove to the location, picked up the desired coin, and completed the transaction. It was a seamless and fabulous experience for Patti, thanks to the efficient assistance provided by Bruce and the team.
Legacy Coins and Capital Lawsuits: UniCourt & Justia
On 6 December 2010 Irving H Picard, Trustee for the Liquidation of B filed a Bankruptcy – Chapter 11 Adversary Proceeding lawsuit against Legacy Capital.
Is Legacy Coins and Capital Legit? Should You Invest With Them?
No. I don’t think you should invest with them.
Over 15 years of industry experience
A+ rating on BBB
Limited product selection
Poor online presence
Suspiciously few reviews are available online
While it’s true that they are a legitimate company, there are too many red flags.
Firstly, the fact that they do not offer palladium or platinum coins in their catalogues may indicate a limitation in their product range or a potential red flag for those specifically interested in these types of investments.
Furthermore, the company’s lack of ratings and reviews on trusted websites is another cause for scepticism. The scarcity of feedback from previous customers makes it difficult to gauge the company’s reputation and the quality of its services.
Trusted websites like Trustpilot, BCA, Yelp, ShopperApproved, SiteJabber, and Trustlink are commonly relied upon for customer feedback and ratings. But their absence on these platforms raises questions about their visibility and engagement with customers.
So, while I would say Legacy Coins and Capital is a legit gold dealer, they are certainly not the best.