Liberty Coin Service Review – A Quick Overview
LIberty Coin Service is a coin dealer based in Lansing, Michigan.
They have been in business for over 50 years and primarily deal in rare as well as bullion coins.
Their product catalog consists of collectible currency notes too.
However, the company has received mixed reviews from customers and doesn’t offer any IRA services.
They only focus on buying and selling precious metals and collectible products.
- Good for collectors
- Experienced leadership
- No IRA services
- Mixed reviews
- No Palladium products
Table Of Content
What is Liberty Coin Service?
Liberty Coin Service is a coin dealer based in Lansing, Michigan. Their store is located at 400 Frandor Ave, Lansing, MI 48912 and their contact number is 517-351-4720.
They have been in business since 1971 and claim to be one of the largest rare coin and precious dealers of Michigan. Also, they are among the top cash buyers of dental gold, estate jewelry, diamond rings and other precious metal products in Lansing.
Their website features a Learning Center where they share the fundamentals of numismatics and precious metal collecting. You will find multiple guides and articles teaching you about precious metals there. Furthermore, the company has a free newsletter.
However, their product selection doesn’t feature many IRA-eligible products which is rather disappointing. If you’re a retirement investor, it might be better for you to look elsewhere.
Apart from offering precious metals, Liberty Coin Service has plenty of rare currency in their catalog.
People Behind Liberty Coin Service:
Patrick Heller (Owner)
Patrick A. Heller is a radio show host, columnist and speaker. He is the Executive Producer of “Alongside Night” an economic thriller and the owner of Liberty Coin Service.
His radio show, Things You ‘Know’ That Just Aren’t So, and Important News You Need To Know, has won several awards.
Furthermore, he writes the company’s monthly newsletter and weekly columns on NumismaticNews.net where he talks about the current numismatics, precious metals and economic outlook.
Patrick has appeared on various notable publications including the Wall Street Journal, Fox Business News and several Michigan newspapers and radio stations.
Thomas Coulson (CEO)
Thomas Coulson is a co-owner and the CEO of Liberty Coin Service. He has a CPA certification and like Patrick, has a ton of experience in numismatics.
Thomas is a member of multiple numismatic organizations including the Michigan State Numismatic Society, American Numismatic Association and Central States Numismatic Society.
He has published the “How to Collect” series of articles on the website of LCS. They cover the various interesting ways you can collect different coin series.
Allan Beegle (Chief Numismatist)
Allan Beegle is the Chief Numismatist at Liberty Coin Service. He became the first LCS employee in 1972 and has mostly spent the time working there since then.
Allan took a few breaks for college and worked for coin wholesalers in California for 2 years as well.
Throughout these years, he has been able to develop an extensive network of dealers . Allan Beegle has served on a committee of board members from the Industry Council for Tangible Assets to make recommendations to the US Mint Director.
Moreover, Allan is a life member of the Central Numismatic Society, American Numismatic Association and Michigan State Numismatic Society.
Can You Invest in a Gold IRA with Liberty Coin Service?
Liberty Coin Service does not offer gold IRA services to customers. They only focus on selling bullion, coins and currency.
While you might be able to find several IRA-eligible products in their catalog, they don’t specialize in gold IRAs.
Furthermore, their website doesn’t mention any custodians.
To open a gold IRA, you would need to invest with an IRA custodian. If you’re a retirement investor, it would be best for you to check out a more specialized IRA company such as Noble Gold Investments or Augusta Precious Metals.
Liberty Coin Service Products:
The product catalog of LCS is quite attractive. You will find numerous popular bullion coins along with numerous rare collectibles.
However, their product selection has many non-IRA products and they don’t specialize in IRA.
Hence, if you’re an IRA investor, you should be extremely cautious when purchasing here. Buying from a non-specialized dealer can make things rather complicated for any investor.
LCS’ large selection of non-IRA products makes it difficult for me to recommend them to IRA investors. According to the IRS rules, adding ineligible products to your gold IRA can result in severe penalties.
On the other hand, if you’re a currency collector or a numismatist, you might find plenty of options to choose from here:
Their gold bullion catalog mentions all of the popular products such as:
- Austrian Philharmonic
- Australian Gold Kangaroo
- China Gold Panda
- South Africa Krugerrand
- American Gold Eagle
- Canadian Gold Maple Leaf
- American Gold Buffalo
- Austria 100 Corona
- Switzerland 20 Francs
- Austria 1 Ducat
You might also find Valcambi 50g Combibar and 1 oz Gold Ingots here.
At Liberty Coin Service, you would find the following silver bullion products:
- US Silver Dollars
- 1 oz Silver Round
- US 90% Junk Silver Coins
- American Silver Eagle
- Canadian Silver Maple Leaf
Also, you can buy 10 oz and 100 oz silver bars here.
They offer the following platinum bullion products:
- 1 oz Platinum Ingot
- American Platinum Eagle
However, there are no palladium products available on their website, even though they claim to sell them.
Lack of palladium products can be a bit disappointing for many investors considering how popular that precious metal has become. There are plenty of precious metals dealers that offer customers palladium products along with gold, silver and platinum such as APMEX and Modern Coin Mart.
If you like collecting rare currency notes, LCS has a decent selection to offer. Some of their popular products are:
- 1859 $5 Bank of De Soto, Nebraska, April 15 Issue, AU
- 1929 $5 First Wayne National Bank of Detroit, Michigan, Type 1, #10527, VF+
- Costa Rica, 1901-14, 20 Colones Note, Series D, CU
- 1899 $2 Silver Certificate, FR#256, CH. VH35, PMG
Whether you like US currency or international currency, they have got you covered.
Liberty Coin Service specializes in offering collectible coins of various rarity. This means you can find a 1792 Kentucky Token in their selection as well as a 1810 Capped Bust Half Dollar.
Apart from purchasing specific rare coins, you can buy mixed foreign coins weighing 1 lb, 5 lb or 10 lb.
Keep in mind that rare coins are not eligible for your gold IRA. So, this selection is only suitable for collectors.
Liberty Coin Service Fees and Pricing:
This precious metals dealer doesn’t offer any IRA services. Hence, there are no Liberty Coin Service fees.
The company focuses solely on buying and selling precious metals and rare products.
To learn about their prices, you can visit their Daily Quote page where they publish the latest rates of their products. Also, the company is rather transparent regarding its pricing and shares most of it alongside their product listings.
Liberty Coin Service Reviews and Complaints:
The BBB page of Liberty Coin Service has an A+ rating. However, the company doesn’t have any customer reviews or complaints.
Their profile is not accredited as well.
On the other hand, their Google listing has 191 reviews at the time of writing this Liberty Coin Service review and their rating is 4.2 out of 5 stars.
Most of the reviews praise the company for its pricing and services. For example, the reviewer below highlights that he has been here several times and the company gave him at least 85 to 90% for collectible coins.
Also, LCS offered him a few dollars over market price for stock silver.
He appreciates their staff’s polite and professional behavior.
On Yelp, they have a 3.5 out of 5 stars rating based on 7 customer reviews.
However, their Trustpilot page has an aggregate rating of 3.3 out of 5 stars based on 17 reviews.
Around 41% of the Liberty Coin Service reviews on Trustpilot give the company 1 out of 5 stars.
The negative reviews are mostly about buying from them. For example, Sam highlights that LCS is a bad and unethical seller. After he made the payment, the company didn’t send him any picture of the product.
When he asked for a tracking number, the company kept making excuses.
He doesn’t recommend buying from them, particularly through eBay.
Additional Highlights of Liberty Coin Service:
Apart from being a highly experienced coin dealer, there are plenty of qualities that make Liberty Coin Service stand out in the market. The following points will help you understand their unique highlights:
Free Resources for Customers:
The coin dealer has put in a lot of effort in client education. They have a large selection of free resources available on their website under the ‘Learning Center’ section.
Patrick, the owner of LCS, has published the ‘How to Collect’ series on multiple rare coins including United States Type Coins, Large Cents, Two Cents and others. If you’re new to numismatics, they can be an amazing resource.
On top of that, the company has live charges of gold and silver prices present on their website.
Liberty Coin Service has a free newsletter for which you can sign up with just your email and name.
To help their customers stay up-to-date with the latest industry insights, the company has a dedicated News & Articles page.
Liberty Coin Service Checklist
Their website has a ton of free resources but the most notable one is the “Liberty Coin Service Checklist”.
Their collectors’ checklists are for various coin series and themes mentioned in their “How to Collect” articles. You can download them from their website and begin investing right away.
These checklists can be very handy for numismatists and give you information on the available varieties present in the market. They have a checklist for nearly every rare coin in the market including Half Cents, Quarters, Dimes, Half Dollars and bullion.
Liberty Coin Service Daily Quote:
A unique highlight of this precious metals dealer is they publish their daily quotes on their websites every day.
This keeps their pricing transparent and makes it easier for consumers to get an idea of how much it would cost to buy here.
The company has a dedicated page for their “Liberty Coin Service Daily Quote” on their website.
Is Liberty Coin Service Legit?
Yes, Liberty Coin Service is a legitimate company. They have been in the industry for more than 50 years and have a highly skilled team of numismatists.
The company offers customers a large selection of rare coins and currency to invest in. Furthermore, they have published a ton of guides and articles to help new collectors get started.
LCS has a decent selection of bullion products as well.
However, the company doesn’t specialize in IRA services and their product selection is only suitable for rare coin collectors. Also, the company has received mixed reviews across different consumer platforms.
Summary: Should You Invest with Liberty Coin Service?
LCS can be a good choice for ancient and rare coin collectors. However, their mixed reviews suggest the buying experience might not be as smooth for you as they claim it to be.
Finding a reliable gold IRA company might seem overwhelming. However, I have made sure that the process remains as simple as possible. I have reviewed hundreds of companies and determined the best ones; you can learn about them in my list of the best gold IRA companies.
Have you dealt with Liberty Coin Service? Share your experience in the comments!