Premier Coin Galleries has a decent product selection. But they are not the best. I suggest interested investors check out our top recommendations to get an idea of what the industry leaders have to offer.
What are Premier Coin Galleries?Premier Coin Galleries Locations, Timings, Email, Phone, Services
Premier Coin Galleries is a coin dealer and precious metals investment firm based in East Islip, New York. They have been in business for over 30+ years and are a trusted source for rare coins, bullion, and IRAs. The company offers a wide variety of coins, including U.S. coins, foreign coins, and ancient coins. They also have a large selection of bullion, including gold, silver, platinum, and palladium.
Find the Best Rated Gold IRA Company of Your State
In addition to selling coins and bullion, Premier Coin Galleries also offers appraisal services and investment advice. They have a team of experienced numismatists who can help you assess the value of your coins and help you make informed investment decisions. The business is BBB-accredited and has an A+ rating on Better Business Bureau.
Address: 3240 Sunrise Hwy South Service Rd, East Islip, NY, United States
People Behind Premier Coin Galleries: CEO, Owner, Co-Founders & MoreWho owns Premier Coin Galleries? What is the management team behind Premier Coin Galleries?
The lack of information about its owner and management team on the company’s website poses a significant drawback in terms of transparency. When potential customers or investors visit a company’s website, they often expect to find details about the individuals leading the organization.
Without such information, customers may feel uncertain about the company’s legitimacy and reliability. Transparently providing information about the leadership team allows customers to understand the company’s values, expertise, and experience, which can influence their decision-making process.
Transparency is Important
All gold IRA companies are NOT the same. We’ve done the hardwork for you and found the most transparent gold IRA company with the highest rating by customers.
Premier Coin Galleries Products: Bullion Coins, Bars, And Rare CoinsAll products offered by Premier Coin Galleries
Premier Coin Galleries offers a diverse range of products and services tailored to meet the needs of both collectors and investors. One of their prominent services is the option to convert a traditional IRA into a Precious Metals IRA. This allows clients to fund their accounts with a variety of reputable gold, silver, and platinum mints and refineries.
Beware of Gold IRA scams. Recently several scams have been charged by the authorities. Companies such as Regal Assets, Safeguard Metals and Red Rock Secured defrauded hundreds of retirees like you and me. I strongly suggest you learn how to identify gold IRA scams. You can request a free guide using the button below:
For coin collectors, the company presents an extensive selection of rare coins from around the world, including gold and silver coins, as well as commemorative and collector coins. Their team of experienced numismatists and appraisers provides valuable insights into the history and value of these coins, assisting collectors in making informed decisions.
The company was founded with the aim of providing investors with safe and practical options to navigate uncertain economic, political, and monetary conditions. Their services are designed to facilitate investments and ensure clients make educated decisions. To achieve this, they offer expert guidance and market insights, catering to both novice investors and seasoned professionals. The team at Premier Coin Galleries collaborates closely with clients to align their investments with their budgets and goals, providing actionable steps for maximizing profits.
For added convenience, they operate a secure online store where clients can explore and purchase items. The user-friendly interface allows for easy navigation, featuring a simple scroll function. Each coin displayed in the online store is accompanied by an information sheet, providing a quick history and specifications of the coin.
How to Invest in Premier Coin Galleries IRA?Step-by-step guide for investing in Premier Coin Galleries IRA
To invest in a precious metals IRA through Premier Coin Galleries are the general steps:
Open a Self-Directed IRA
Select an IRA company that handles opening precious metals IRA accounts and fill out an application. You can work with Premier Coin Galleries to recommend an IRA company and provide the necessary paperwork. However, I don’t recommend doing so.
Fund Your IRA
Once you have selected an IRA company, you can move your funds into your new IRA account. You can work with the IRA company representative to transfer or rollover funds into the new account.
Select a Precious Metals Dealer
One of the forms you need to fill out along the way is typically called a Buy Direction Letter. This is where you list the precious metals dealer you have selected, such as Premier Coin Galleries.
Decide Which Precious Metals to Purchase
You can choose to invest in gold, silver, platinum, or palladium for your IRA. There are some restrictions regarding fineness requirements and allowable coin types, so it’s important to get guidance from Premier Coin Galleries in this area.
Place Your Order
Once the funds are available in your IRA account, you can call them to place your order for the desired precious metals.
However, I don’t recommend opening an IRA with them.
Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. You can find the best precious metals dealer in your state and choose accordingly.
Also, the list will help you understand what the industry best has to offer and what you might miss out on. On the other hand, you can get a free guide on gold IRAs below. It will help you understand the process.
Premier Coin Galleries Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
Premier Coin Galleries has specific pricing and fees associated with their services. As a dealer, they are not a custodian, so customers will need to pay their custodians separately to maintain their accounts.
If you choose to open a precious metals IRA, these fees will come into play. However, if you make a personal investment using savings rather than retirement funds, you won’t have to worry about these specialized fees for storage or maintenance.
They allow you to create a self-directed precious metals IRA using Goldstar Trust IRA, a reputable company with substantial assets and numerous clients. Storage fees vary based on your metal holdings and account size, and in some cases, free storage might be available.
They offer depositories on the East and West coasts, as well as in the Central portion of the United States. While specific depository information is not widely available online, it’s advisable to seek depositories with flat fees rather than fees based on a percentage of your account value to potentially reduce costs.
For those who want to segregate their items, an additional fee ranging from $100 to $200 annually might apply. Custodian fees typically range from $100 to $250, depending on the custodian and their fee structure.
When opening an account, there may be a one-time fee of $50 to $150 to cover administrative expenses and paperwork processing.
To get a precise cost range for these fees, it’s best to contact your representative at Premier Coin Galleries and discuss your individual situation.
Companies like Augusta charge ZERO fees for up to 10 years, allowing you to choose your gold & silver. Premier Coin Galleries on the other hand provide fewer options.
Social Media Presence of Premier Coin Galleries:Twitter, Facebook, & Instagram
Premier Coin Galleries Twitter Page:
The company has an account on Twitter. They have 21 followers. Premier Coin Galleries joined Twitter in February 2012.
Premier Coin Galleries Facebook Page:
The company has a Facebook account with 323 followers and 289 likes, indicating a relatively better online presence on that platform.
Premier Coin Galleries Youtube Page:
Premier Coin Galleries has a YouTube channel with a limited presence, having posted only 2 videos to date. They joined the platform on June 14, 2022. Despite the small number of videos, they have received a total of 67,798 views, which suggests some engagement with their content on YouTube.
LinkedIn Page of Premier Coin Galleries:
The business has a limited presence on LinkedIn, with only 2 followers. Only one of its employees has a profile on LinkedIn. Despite this, their company size is listed as 50-200 employees, which suggests that they might have a significant workforce.
However, their overall presence on this platform is not considered strong compared to other social media platforms like Facebook.
Premier Coin Galleries Reviews and Complaints: BBB, Trustpilot, SitejabberRead all the Premier Coin Galleries reviews & complaints
Better Business Bureau (BBB):
On the Better Business Bureau website, the business has 2.67 stars out of 5-star ratings. The business has only 3 customer reviews. They are since 33 years in the industry. A total of 3 complaints have been filed and closed against the company. The business is accredited by BBB and is rewarded with an A+ rating.
Premier Coin Galleries 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.
Premier Coin Galleries on Yelp has a low rating of 1.8 stars out of 5 based on only 10 customer reviews. Most of these reviews are negative, with customers criticizing their services and products. However, there are some positive reviews regarding their shipping.
On Google, the company has 4.3 stars out of 5-star ratings based on various customer reviews. There are 82 customer reviews on Google, and most of them are positive. Customers praise the company’s excellent customer service, professionalism, and expertise.
Business Consumer Alliance (BCA):
On Business Consumer Alliance, the company has a CC rating. Premier Coin Galleries has only one star and 2 reviews. This business is not a member of BCA.
Some Positive Reviews:
#1. Megan Mackenzie highly recommends this company, expressing that they offer excellent service. She praises Sal Scarnati’s expertise and helpfulness, stating that he goes the extra mile to ensure customers are taken care of and satisfied.
#2. Alex shares his experience of being a coin hobbyist for over 20 years, during which he often received significantly lower offers for his coins compared to what he originally paid for them. However, his perspective changed when he discovered Premier Coin Galleries. He highlights that they pay better prices for coins because of their team of employees who handle retailing collections.
Alex emphasizes that he has never received higher offers for his coins anywhere else. Based on his positive experience, he wholeheartedly recommends this business to others.
#3. According to Amya Garmon, the customer service at Premier Coin Galleries is exceptional, receiving a perfect 10/10 rating. He was pleased with the competitive pricing he obtained on all his coins. Amya highly recommends this business to anyone seeking affordable precious metals.
#4. Papabear shares his delightful experience, mentioning that his 8-year-old grandson began collecting state park quarters. When he visited the Premier Coin Galleries, the staff assisted them without any issues. He was pleased to find that the store had all the park coins available. Papabear expresses his gratitude for the store’s help, as it made his grandson incredibly happy. The young collector is now eager to return for more park coins in the future.
#5. According to Anthony Jordan, the experience at this company was excellent. He found the staff to be highly professional, knowledgeable, and fair. When he went in to sell some old silver coins, he received a very good price for them. Based on his positive encounter, Anthony highly recommends their services.
Some Negative Reviews:
#1. Gopalakrishnan expresses that the company has a good reputation and positive reviews, but he believes that they have cheated him out of his money. He states that despite raising a complaint, there has been no response from the company. He claims that they have cheated him out of 6.5 lakhs in Indian currency and requests a full refund of his money.
#2. Corrine Bell shares a surprising experience with them, mentioning that they did not initially test his jewelry for gold content. He had to point out the 14k mark on the bracelet himself after they mistakenly categorized it as costume jewelry.
#3. Robert strongly warns against this company, labeling them as a dangerous business that uses cold-calling, aggressive marketing, and high-pressure sales tactics. He believes they exploit people’s lack of knowledge and overhype their products, leading to potential financial losses. Robert advises others to steer clear of this company to protect themselves from harm and avoid doing any business with them.
Our top companies have a lean background and aren’t involved in any kind of major legal dispute. You can check out the list here.
Premier Coin Galleries Lawsuits: UniCourt, Justia, CasetextHave its customers sued Premier Coin Galleries?
Premier Coin Galleries v. Grinage:
The case of Premier Coin Galleries, Inc. v. J.D. Grinage was a restricted appeal from a no-answer default judgment rendered in favor of appellee, J.D. Grinage.
The Court of Appeals of Texas, Fourth District, San Antonio reversed a no-answer default judgment against Premier Coin Galleries, Inc. because the service of process was defective. The Court found that the return receipt was not signed by the addressee and that the record did not affirmatively show that J. Monte was Premier Coin’s agent.
Additionally, the date and time of service were inconsistent in the citation. As a result, the Court concluded that the face of the record indicated service of process was defective and that the default judgment was improper. The Court reversed the trial court’s judgment and remanded the case for further proceedings.
PREMIER COIN GALLERIES INC. – v. – JAMES GUSTAM et al:
The case was filed by Premier Coin Galleries Inc. against James Gustam. The case is currently pending, and the status is “Pending – Other Pending.” This means that the case is still in the early stages, and no rulings have been made yet.
The case was filed in the Suffolk County Courts, which is located in Washington, New York. The case type is “Other,” which means that it is not a specific type of case, such as a breach of contract or a personal injury case.
Is Premier Coin Galleries Legit? Should You Invest With Them?Is Premier Coin Galleries a scam or legit? Are they worth it?
No, I don’t think you should invest with them.
A+ rating on BBB
Decent product selection
Lack of transparency
Received mixed reviews online
I believe there are plenty of better options available for you.
Premier Coin Galleries is a precious metals dealer in business for 33 years. They have an A+ rating with 2.67 stars on the Better Business Bureau. They are also accredited by BBB. The company 4.3-star rating on Google Reviews.
Whether or not this company is legitimate is a matter of opinion there was no publicly available information about its founder and owner.