Missouri Coin Company Review – A Quick Overview
Missouri Coin Company is a precious metals dealer based in Des Peres, Missouri.
It has been in the industry since 1979 and offers gold and silver bullion coins and bars.
The company has partnered with Midland IRA and the Entrust Group to offer IRA services to clients.
However, it hasn’t received many reviews online and their product selection is rather limited.
Pros:
- Over 40 years of experience
- Reputed custody partners
Cons:
- Limited product selection
- Low number of client reviews
- No platinum and palladium offerings
Table Of Content
What is Missouri Coin Company?
Missouri Coin Company is a coin dealer based in Des Peres, Missouri. They are located at Manchester Rd, Des Peres, MO 63131 and their contact number is 314-965-9797.
Their office opens from Tuesday to Friday from 9:00 am to 5:00 pm. On Saturdays, they are open from 9:00 am to 2:00 pm.
The company entered the industry in 1979 and has been operating since.
Missouri Coin Company provides customers with gold and silver bullion. You can find a lot of popular bullion coins and bars in their selection.
The company has partnerships with two reputed IRA custodians – Midland IRA and the Entrust Group.
People Behind Missouri Coin Company:
Surprisingly, Missouri Coin Company doesn’t share any information about its management on its website. Considering how almost all of the reputed gold IRA companies share their management info with full transparency, it was a little disappointing.
A 2016 study showed that 94% of customers prefer transparent companies over those that aren’t. Furthermore, there are plenty of precious metal dealers which openly share their leadership details such as Miles Franklin Precious Metals and Colorado Gold.
The Missouri Coin BBB page shows that the company’s President is Dennis McCormick while the Vice President is Matt McCormick.
In its ‘About Us’ page, the company says that its staff has a combined experience of over 100 years in numismatics.
However, there is no information available on the staff’s actual experience or qualifications.
Can You Invest in a Gold IRA with Missouri Coin Company?
Yes, Missouri Coin Company has partnered with two IRA custodians to offer gold IRA services. These are:
- The Entrust Group
- Midland IRA
The signup process is quite simple. You would first need to choose your desired custodian and open an account with them. Then you would have to mark Missouri Coin as your precious metals dealer.
Once that’s done you would need to add funds to your IRA.
You can do so by rolling over funds from an existing IRA or deposit the current year’s new contribution. Afterwards, you can begin adding precious metals to your IRA from Missouri Coin’s inventory.
Missouri Coin Company Products:
Missouri Coin Company specializes in gold and silver bullion products. Sadly, they don’t offer any platinum and palladium product.s
Their gold catalog includes the following products:
- American Gold Eagle ( 1 oz and ½ oz)
- Canadian Gold Maple Leaf
- American Gold Buffalo
- South African Krugerrand
- 1 Kg Gold Bar
Similarly, their silver catalog includes:
- American Silver Eagle
- Canadian Silver Maple Leaf
- 1 oz Silver Rounds
- Silver Bars (10 oz, 50 oz, ½ kg)
While it’s a decent selection, it is quite limited. Plenty of precious metals dealers have much larger and more specialized product selections. If you’re an IRA investor you might want to check out the product catalogs of Birch Gold Group or Augusta Precious Metals.
Missouri Coin Company Fees and Pricing:
Missouri Coin Company doesn’t specify any fees for its IRA services. Your charges would depend on the custodian you choose.
For starters, Midland IRA charges an annual fee $325 per asset, a $50 transaction fee and an account termination fee of $150 if the account is older than 2 years or $250 if it’s not.
You can check out their fee structure here:
On the other hand, Entrust Group charges a one-time fee of $50 for opening an account, an annual fee of $199 or $299 if your total asset value is less than $50,000. If your asset value is more than $50,000, you would need to pay an additional charge of 0.15% of your total asset value.
There are various transaction fees depending on your chosen payment method and an account termination fee of $250.
You can view the Entrust Group fee schedule here.
Missouri Coin Company Reviews and Complaints:
There is a decent quantity of Missouri Coin reviews available online.
Their BBB page has an A+ rating but it doesn’t have any customer reviews or complaints.
On Google, Missouri Coin Company has received 28 reviews and the average rating of the company is 4.4 out of 5 stars.
Most of the positive reviews are about the company’s promptness and professionalism.
For example, the above reviewer highlights that he was able to sell some of their old jewelry within 10 minutes of entering the store. Also, he says that Missouri Coin offered him more than the other places.
The reviewer points out that the transaction was easy and recommends the place.
Similarly, their Yelp page has received 4 customer reviews and has the total rating of 3.5 out of 5 stars.
Is Missouri Coin Company Legit?
Yes, Missouri Coin Company is legit.
They have been in the industry for over 40 years and provide customers with a specialized selection of gold and silver bullion.
Furthermore, the company has partnered with two reputed custodians, Entrust Group and Midland IRA, to help them invest in precious metals through their IRA funds. However, that’s about it in terms of the company’s pros.
Their product selection is quite limited and they don’t offer any platinum or palladium products. Despite being in the industry for over 4 decades, the company hasn’t received many reviews online.
Due to these reasons, it’s quite difficult for me to recommend them.
Summary: Should You Invest with Missouri Coin Company?
Missouri Coin seems like a promising firm but it lacks many qualities present in the top gold IRA companies.
Before you make any decision, it would be best to check out more gold IRA firms and evaluate their features. This way you would know what the industry has to offer and wouldn’t miss out on good deals.
You can start your search with our list of the best gold IRA companies 2023.
Have you dealt with Missouri Coin before? How was your experience? Let us know!