Nationwide Coin & Bullion Reserve boasts that they have over 100 years of combined experience in precious metals, thus making them a national leader in their industry.
To summarize about Nationwide Coin & Bullion
Company name: Nation Wide Coin
BBB grade: no accreditation
Summary: Nationwide Coin & Bullion Reserve stands out for its abundance of industry experts, over 100 years of combined experience in the precious metals industry, and wide range of precious metals products to suit every investor, including IRA investors.
However, we cannot get past their lack of BBB accreditation and rating and numerous complaints of elderly exploitation. Therefore, we can't recommend them as one of the best precious metals companies you should work with at this time.
Our score: 2.5/5
Should you work with Nationwide Coin in 2023?
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Their Wide Range of Precious Metals Products Also Includes Foreign-Issued Coins
The company adds that its clients also have the added benefit of being able to purchase foreign-issued gold, silver, and platinum coins to further increase their ability to profit from investing in precious metals.
Their Main Goal is to Help Their Clients Diversify With Precious Metals Rather Than Simply Putting All Their Eggs in One Basket
Unlike other precious metals company customers, clients of Nationwide Coin & Bullion Reserve are advised to invest in precious metals only as a way to help diversify their portfolios rather than to fill them, which helps avoid the potential risks of putting all of your eggs in one basket.
Access to Precious Metals Conversion Charts and Other Educational Resources for Better Investing
Clients of the company also have free access to various educational resources via the Resource Center on their website.
This way, they can supplement the professional knowledge provided by their account representative with their own reading to help ensure they know all there is to know about investing in precious metals before actually purchasing them for more assured financial transactions.
They also provide free precious metals conversion charts on their site to help clients better analyze and compare gold, silver, platinum, and palladium prices in regard to their weights, which then be used to make smarter decisions concerning what to invest in for the best investments.
You can also track the different precious metals' historical prices to date to determine a good price to buy them for the highest returns.
There is also a blog section on their site to stay on top of the latest industry news, company news, and more.
Complimentary New Customer Welcome Kit and Other Perks
Nationwide Coin & Bullion Reserve also provides its new clients with a free welcome kit when they request it using the form on their website.
As an additional perk, you will also receive a free 2-year subscription to Inside the Vault and American Gold Journal with your sign-up.
New customers can also purchase their first 1-ounce gold bar free of markup costs as an exclusive introductory offer.
Pros about Nation Wide Coin:
Nationwide Precious Metals Experts Team
Nationwide Coin & Bullion Reserve promises that when you choose them as your precious metals dealer, not only will you receive professional guidance on how to diversify your portfolio with silver, gold, platinum, or palladium, but it is also provided by a variety of experts in the field for the most well-rounded knowledge to make the most effective investment choices.
Some of these industry experts include numismatic professionals, consultants, trend analysts, rarities consultants, and economists.
They can also assist you with IRA planning to help meet your retirement goals.
You can Choose From a Full Catalogue of Precious Metals Products
Nationwide Coin & Bullion Reserve boasts that their clients are also not limited in their precious metals choices when they work with them because they offer a full catalog of gold, silver, platinum, and palladium products to suit different preferences and investment goals.
Their wide range of precious metals products includes but is not limited to:
- Modern American rare coins and bullion products
- Pre-1933 American rare coin and bullion
- Foreign coin and bullion products
As if that wasn't enough, clients also have the privilege of owning signature coins produced by none other than Don Everhart, who was previously the lead sculptor for the U.S. Mint.
In fact, the company states that they are the chosen distributor of the notable sculptor's precious metals coins for added exclusivity.
Gold and Silver Packages for Retirement
As per IRS guidelines, gold, silver, platinum, and palladium coins and bars held in a precious metals IRA must meet specific standards of quality to be deemed acceptable for the retirement plan.
For instance, gold must have a purity level of at least 99.5%, while silver must contain at least 99.9% metal to qualify. They must also be produced by an IRS-approved government mint or another manufacturer.
Meanwhile, coins, specifically, must also be appropriately packaged and in excellent condition to qualify.
Nationwide Coin & Bullion Reserve states that as part of its wide range of precious metals products, they also offer gold and silver packages to help make it easy to choose IRS-approved coins and bars for your retirement.
Some IRS-approved popular precious metals products you are able to own as part of your gold IRA include Gold American Eagles, Silver American Eagles, Gold Proof American Eagle coins, and Silver Proof American coins.
However, you are also able to own platinum and palladium coins and bars as part of your gold IRA, provided they also meet the standard of purity, packaging, and condition set by the IRS.
They Include a Section Devoted to Ethics on Their Site to Help Ensure You Understand the Risks of Investing in Precious Metals Before Doing So
The first subject the company lists in its disclosure is that the precious metals market is not regulated by a securities commission. Hence, anyone can sell gold, silver, platinum, and palladium products without a license.
Therefore, it is important to do your homework when selecting a precious metals dealer to work with to ensure they are an ethical and trustworthy company.
They state that it is also important to know that coin prices are subject to change based on various factors, including demand. So keep this in mind when purchasing their coins, which may sometimes be priced above the spot price.
These are some of the risks that may affect your precious metals investments; therefore, be sure to read their ethics section to find out more.
Cons:
Their Frequently Asked Questions Link/Page Doesn't Work
A Frequently Asked Questions page on a company's site helps you learn even more important details about precious metals investing via the answers provided to some of the most common questions that many others also have.
It also helps you learn even more about the company's services, including which depositories and custodians they work with, their fees, and the minimum investment requirement.
Together, it helps you determine if adding precious metals to your portfolio is for you and if they are the company you choose to do it with before contacting them, which helps save time and awkwardness.
That said, we were excited to click on the Frequently Asked Question link on Nationwide Coin & Bullion Reserve's site to learn more about them and other important information, but when we clicked on the link, it sent us to a page that didn't work.
No Custodian, Depository, Fees, or Minimum Investment Requirement Listed on Their Site
Again, we're not sure if details on which depositories and custodians Nationwide Coin & Bullion Reserve works with and their fees were included in the company's Frequently Asked Questions page, which we were unable to see because we couldn't access it, or if this information was simply not listed.
But, in either case, the custodians and depositories they work with, their fees, and their minimum required investment are not included on their site, which you need to know when determining if a precious metals company is right for you before contacting them.
Is Nationwide Coin & Bullion Reserve a Scam?
What We Found With the Attorney General and Other Government Offices
Upon conducting an initial online search for any news related to Nationwide Coin & Bullion being a scam, the first thing we noted was there were no official lawsuits filed against the company with the Attorney General or any other government office, which is typically a good sign that, as of the moment, Nationwide Coin & Bullion Reserve appears to be legit.
What We Found With the Better Business Bureau
We did, however, come across their Better Business Bureau page and sadly learned that Nationwide Coin & Bullion Reserve is not BBB accredited or rated, which raises a red flag because it may mean that the company failed to pass the standard of ethics that the organization requires for their accreditation and rating.
What We Found on Trustpilot and Other Consumer Review Sites
Trustpilot is also a reputable site for gauging a company's legitimacy because it features nothing but reviews by verified customers that will alert you to their experience with the company and if they got scammed.
Hence, we also researched their reputation on Trustpilot and found that they have over 650 customer reviews, most of which are from satisfied customers, and a 4.5-star rating.
We also searched for their customer reviews on various other sites, including Trustlink and Yelp, and found no testimonies to go on that any past clients there felt that Nationwide Coin & Bullion Reserve is not a real company.
However, on Reddit and Google Reviews, we did find at least two customers who felt they were scammed, one stating the company falsely advertised their roll of Silver American Eagle coins.
The other customer on Google Reviews shared that they were bombarded with calls and texts after providing them with their personal information, which made them feel the company was shady.
How is Their Customer Support?
Nationwide Coin $ Bullion Reserve makes several promises when it comes to their customer support, including the promise that if they advertise a product for a certain price, then clients can expect them to deliver it to them at that price.
They also promise that if their clients do not receive the exact precious metal bars or coins they ordered, they will provide them with a full refund.
Finally, the company also promises that its clients never have to worry about purchasing rare coins from them that have been falsely advertised on their site or misrepresented via the advice given by their industry-leading experts.
So do their customers agree?
Well, we first sought out Nationwide Coin & Bullion Reserve customer testimonials on the Better Business Bureau site and found that at least half of the reviewers out of 23 stated their experience with the company was friendly, helpful, and smooth.
Many customers also stated that the coins they ordered were exactly as they expected or better and that they also arrived fairly quickly, which further increased their customer experience with the company.
What Trustpilot Reviewers Had to Say About Working With Nationwide Coin & Bullion Reserve
We next turned to Trustpilot, where we observed that Nationwide Coin & Bullion Reserve has 683 customer reviews.
Of these many reviews, we found one that stated how great of a deal they felt they received on their precious metals, and they also raved about their customer service.
Meanwhile, another reviewer shared that, though they were a bit skeptical at first, they found themselves impressed with how excellent their representative's communication was and how promptly they received their order. They added that they were also satisfied with the company's prices.
Then, we found another review that shared how honest and professional they felt the company was, which made them trust them. And one customer even stated that their interaction with the company alone was enough to merit a 5-star review, though they had yet to receive their gold.
We also looked for verified client testimonies regarding the company's customer support on other reputable consumer review sites, including Trustlink and Business Consumer Alliance, and really didn't find anything to negate Nationwide Coin & Bullion Reserve's claims of providing trustworthy support to their customers.
Has There Been any Complaints About Nationwide Coin & Bullion Reserve?
Unfortunately, Nationwide Coin & Bullion Reserve has several customer complaints across various sites, mainly regarding their prices.
In fact, they have over 10 customer complaints on the BBB site alone, which occurred within the last 3 years, with at least 4 to 5 of them involving customers stating they were charged a higher price than what the company promised or than what they felt the coins were worth, and at least another 3 to 4, involving concerns of the company inflating their prices to take advantage of the elderly.
There was also at least one complaint of possible elderly exploitation by the company on Google Reviews, and another 2 customers on the review site also felt they were overcharged for their precious metals.
The company also has its share of customer complaints on other consumer review sites, including Business Consumer Alliance and Reddit, where two customers also complained of being charged inflated prices for their precious metals coins.
Conclusion
Clients Have Access to Both Foreign and U.S. Issued Bullion and Coins, Modern American Rare Coins and Bullion, Pre-1933 Rare Coins and Bullion, and IRA Silver and Gold Packages
We love the unlimited range of precious metals bullions and coins that Nationwide Coin & Bullion Reserve enables its clients to choose from, which helps make investing with them more exciting.
They also offer silver and gold packages for IRA savers, which helps take the guesswork out of determining the best and IRS-approved precious metals for your plan on your own for less stress.
Hence, in essence, it makes them a one-stop for all your precious metals needs.
Exclusive Access to the Former Mint Sculptor/Engraver's Signature Coins
According to Nationwide Coin & Bullion, its clients also have the exclusive benefit of owning signature coins sculpted by none other than the U.S. Mint's own former designer, Don Everhart.
This way, they have yet another way to purchase one-of-a-kind coins that also have a strong potential to increase in value over time for another possible chance at a lucrative precious metals investment.
Kudos for a Dedicated Ethics Section
We also like that Nationwide Coin & Bullion Reserve includes a section devoted to ethics in their field on its website, which helps you learn even more about the risks of investing in precious metals and makes you feel like they are a trusted company you can work with.
No BBB Accreditation or Rating
We do not, however, like that the company has no BBB accreditation or rating because we can't help but wonder if it is because they were unable to pass the strict standards set by the organization to help ensure ethical business practices for consumers.
Too Many Complaints of the Same Nature
Nationwide Coin & Bullion also has too many complaints concerning high prices. However, to the company's credit, they do state in their ethics section that their precious metals are priced based on what they think collectors will pay for them, so it may cause their prices to be higher than spot prices.
Though we cannot ignore the number of complaints involving the company and customers feeling they were taking advantage of the elderly.
All things taken into consideration, we find it hard to recommend Nationwide Coin & Bullion as a trustworthy precious metals company you should consider working with for your IRA needs.
2.5/5