Lincoln Coin & Bullion Review – A Quick Overview
Lincoln Coin & Bullion is a precious metal dealer based in Lincoln, Nebraska.
They have been in the industry since 2006 and offer customers gold, silver, platinum and palladium products.
The company has affiliations with the American Numismatic Association and ICTA.
While their product selection has plenty of IRA-eligible products, they don’t offer any IRA services.
- More than a decade of experience
- No IRA services
- Limited product selection
- No custody partner
What is Lincoln Coin & Bullion?
Lincoln Coin & Bullion is a coin dealer based in Lincoln, Nebraska. Their address is 3534 S 48th St #4, Lincoln, NE 68506 and their contact number is 402-327-2853.
They specialize in buying and selling gold, silver and platinum products as well as collectibles.
The company was founded in 2006 and went through an ownership change in 2019.
They are affiliated with the Industry Council for Tangible Assets and the American Numismatic Association. For first-time buyers, the company offers discussion calls to help them decide on which products would match their requirements.
Also, the company mentions on its website that it has a lot of IRA-eligible bullion on its product selection. Although they don’t mention any custody partners, they mention Jones Bank in Seward, NE as being a popular service provider among their clients.
The company offers appraisal services for large collections as well. Depending on the location and availability, the staff of Lincoln Coin and Bullion might travel off-site as well.
Also, the company has invested heavily in testing technology to ensure its customers get genuine articles. They have a Thermo Scientific XRF Analyzer which can determine the elemental composition of a substance within seconds.
Moreover, they have a Sigma tester along with two ultrasonic thickness gauges.
Lincoln Coin & Bullion relies on this equipment to detect and prevent counterfeit goods from entering their collection.
People Behind Lincoln Coin & Bullion:
Scott and Deb Olson had founded Lincoln Coin & Bullion in 2006. Later, in 2019, Pat and Jennifer Moran purchased the business in 2019.
Since the acquisition, Pat has been leading the company while Scott and Deb offer their assistance occasionally to help the LCB team in getting answers to some questions.
The company highlights that their experience of running LCB for 14 years helps them grow steadily.
According to his LinkedIn profile, Scott Olson is a graduate of Minnesota State University Moorhead and has a degree in Accounting.
Can You Invest in Gold IRA with Lincoln Coin & Bullion?
While Lincoln Coin and Bullion doesn’t claim to offer any IRA services to clients, their product selection has plenty of IRA-eligible products available.
However, they don’t have partnerships with any IRA custodian which suggests you cannot open a gold IRA with them.
Furthermore, their product selection has plenty of non-IRA products which you cannot add to your gold IRA portfolio. If you’re interested in opening a gold IRA or investing in one, it would be better to go with a more specialized firm such as Augusta Precious Metals or Noble Gold Investments.
Lincoln Coin & Bullion Products:
Lincoln Coin & Bullion has a decent product selection. You will find nearly all of the popular bullion products here of gold, silver and platinum.
The company lists the Spot Price and the premium of every product on its website. This is a welcome highlight because plenty of precious metals dealers don’t share such information. Companies like Advantage Gold and American Bullion are some examples.
Some of the notable gold products present in their catalog include:
- South African Krugerrand
- American Gold Eagle
- Canadian Gold Maple Leaf
- British Gold Britannia
- American Gold Buffalo
Also, they offer various gold bars such as 1 oz Royal Canadian Mint bars and 10 oz Gold Valcambi Suisse bars.
Their silver collection includes:
- American SIlver Eagle
- Australian SIlver Kangaroo
- Canadian Silver Maple Leaf
- Austrian Silver Philharmonic
- British Silver Britannia
They offer silver bars of various weights running from 1 kg to 1 oz. You would also find face bags of 90% Silver Dimes, Silver Quarters, and Silver Half Dollars of various values.
Their platinum selection features the following:
- Austrian Platinum Philharmonic
- Canadian Platinum Maple Leaf
- Australian Platinum Kangaroo
- American Platinum Eagle
Also, you would find American Palladium Eagle and Palladium Assorted Bars along with the platinum products I mentioned above.
Apart from bullion products, Lincoln Coin and Bullion offers an impressive selection of collectibles. Some prominent products available in that selection are:
- Morgan Dollars
- Peace Dollars
- Steel Cents
- Buffalo Nickels
- Silver Certificates
- US War Nickels
You can find Pre-1921 Morgan Dollars as well as 1921 Morgan Dollars here.
Lincoln Coin & Bullion Fees and Payment Methods:
Lincoln Coin and Bullion doesn’t offer any IRA services so there are no related fees. The company primarily focuses on buying and selling precious metals and collectibles.
You can avail appraisal services here for large collections for a certain fee. With no intent to sell, you would need to pay $115 per hour (first half-hour is free) while those who want to sell would get line-itemed quotes.
If you mainly have bullion, they can give you a quote over the phone as well.
Their minimum purchase requirement is $1,000. However, the company doesn’t charge any shipping fees.
New customers can reserve items and/or lock spot prices on orders with a 30% down payment while repeat customers have the option to do so over the phone.
The company accepts cash and checks for payments. However, those paying with debit and credit cards would need to pay an additional fee of 1.5% and 3% respectively for the payment method. Another payment method they accept is Paypal which features crypto.
Lincoln Coin & Bullion Reviews and Complaints:
Lincoln Coin & Bullion has received a decent number of reviews online. However, they are distributed very unevenly.
The Google listing of Lincoln Coin & Bullion has 88 reviews and an average rating of 4.7 out of 5 stars.
Most of the reviewers praise the company for its helpful staff. For example, Kevin shares that LCB is the best coin and bullion store in the state. Their staff helped him purchase several old coins and learn more about coin grading. He was very pleased with the experience.
Similarly, Easton highlights that Lincoln Coin & Bullion has a great team. They walked him through the process of buying/selling bullion for his first time and he has been a returning customer since.
Their BBB page has an A+ rating while their customer rating is 5 out of 5 stars based on 2 customer reviews.
On Yelp, Lincoln Coin & Bullion has received 3 reviews and an average rating of 3.5 out of 5 stars.
Is Lincoln Coin & Bullion Legit?
Yes, Lincoln Coin & Bullion is a legitimate precious metal dealer. They have been in business since 2006 and offer a variety of products to customers.
Their store has multiple testing equipment in place to ensure their customers only get access to authentic products. Furthermore, they have a good mix of bullion and collectible products present in their catalog.
The company has received a generous amount of positive reviews from its customers as well.
However, they don’t offer any IRA services and have no partnered custodians. This can deter some retirement investors from choosing Lincoln Coin and Bullion over other, more specialized firms.
The minimum purchase requirement of $1,000 might be another hindrance for interested investors.
Summary: Should You Invest with Lincoln Coin & Bullion?
Lincoln Coin and Bullion is an experienced firm. However, they have plenty of flaws which make it difficult for me to recommend them. There are plenty of service providers with more expertise and specialization.
Finding the right gold IRA company might seem challenging. It’s best to review multiple options before making any decision.
That way, you would know what the industry has to offer and what you can expect. You can start by visiting my list of the best gold IRA companies 2023.