Gaithersburg Coin Exchange Reviews 2022

Gaithersburg Coin Exchange is one of the oldest and most popular precious metals companies in the US. The company offers a diverse selection of products that we are going to reveal in this short review. Read on to find out whether Gaithersburg Coin Exchange is the right choice for you.

What is Gaithersburg Coin Exchange?

Gaithersburg Coin Exchange Reviews

As its name implies, Gaithersburg Coin Exchange is a precious metals dealer specializing in gold and silver coins. The company was founded in 1972 and is based in Gaithersburg, Maryland. They have a wide selection of both bullion and rare coins. Products are primarily sold through their brick and mortar store, but they’ve also set up an online page on Ebay to facilitate online sales.

Gaithersburg Coin Exchange Products

Gaithersburg Coin Exchange mainly deals with coins, but they also sell a small amount of gold and silver bars. Their coinage comprise both IRA eligible bullion coins and collectible coins sourced from around the world. Available gold coins include the United States Gold Eagle, Royal Canadian Mint Maple Leaf, South African Krugerrand and much more. Silver coins include the United States Silver Eagle and Canadian Mint Maple Leaf. What surprised us most is the fact that unlike most other precious metals dealers, Gaithersburg Coin Exchange does not offer platinum or palladium products.

Does Gaithersburg Coin Exchange Offer Precious Metals IRA?

Despite offering IRA eligible gold and silver coins, Gaithersburg Coin Exchange does not offer custodial services nor does it partner with any custodian to offer precious metals IRA services. If you wish to open a gold or silver IRA, our #1 recommended Gold and Silver IRA Company has got your back.

Company Info

Location:

Gaithersburg, Maryland

Address:

16 E Diamond Ave, Gaithersburg, MD 20877, United States

Year Founded:

1972

Managers:

Mark Watson (CEO)

Website:

www.gaithersburgcoin.com

Rating:

3 out of 5 stars (3 / 5)

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How It Works

How Gaithersburg Coin Exchange Works

Unfortunately, you may not be able to place an order on Gaithersburg Coin Exchange’s official website as they do not have systems in place to automatically process orders and payments. Thus, you will have to call the company or physically visit their online store to place an order. Alternatively, you can order online through their Ebay page, which can attract additional charges.

Pros of Choosing Gaithersburg Coin Exchange                                             

  • They Have Been Around for Decades

The firm has been operating for over 45 years, meaning they are reputable and can be relied on. They have gained immense trust and popularity over the years which has given them a competitive edge over other coin dealers.

  • Offers a Wide Variety of Rare Coins

Gaithersburg Coin Exchange offers a wide variety of rare coins and collectibles sourced from around the clock. Therefore, it offers a great trading platform for coin collectors.

Cons of Choosing Gaithersburg Coin Exchange

  • Outdated Website

Their website is old school and does not offer much educational resources. Placing of orders has to happen physically or through the phone as they don’t provide an online checkout. There’s also no information regarding product prices and you are required to call their staff to inquire about prices.

  • Limited Selection of Bullion Products

Gaithersburg Coin Exchange has countable IRA eligible gold and silver coins. They do have a large selection of rare coins, but their limited selection of IRA eligible bullion puts those seeking to set up a precious metals IRA in jeopardy.

  • Lack of BBB Accreditation

The Better Business Bureau is a well-known and trusted third party consumer protection website. Unfortunately, Gaithersburg Coin Exchange is not accredited with the BBB. It also lacks customer reviews and ratings on the platform, which raises a lot of questions.

  • Does Not Offer Precious Metals IRAs

As we’ve stated, this company is neither a custodian nor does it partner with other companies to offer custodial services. Thus, you cannot open a precious metals IRA with them.

  • Poor Customer Support

They do have a phone number and an email address, but they can do better by installing a live chat feature on their website. We also found reviews on Yelp accusing the company’s support staff of rudeness and arrogance while answering customer calls.

Accreditation, Customer Reviews and Ratings

Gaithersburg Coin Exchange Customer Reviews and Ratings

Gaithersburg Coin Exchange is not accredited with the BBB and has no reviews on the platform. They also lack reviews on the Business Consumer Alliance, Trustlink and Trust Pilot. However, the firm boasts an overall rating of 3 out of 5 stars rating on Yelp from 8 customer reviews.

Should You Consider Gaithersburg Coin Exchange for Your Gold IRA Rollover?

As we’ve noted, Gaithersburg Coin Exchange does not offer Gold or Silver IRAs, hence they can’t be a good option if you are looking to open a precious metals IRA. You can opt for our Top-rated precious metals IRA provider instead.Click Here to Learn About Our Top-rated Precious Metals IRA Provider

Is Gaithersburg Coin Exchange Legit or Another Scam?

Gaithersburg Coin Exchange is a legit coin dealer that has been in business for almost 5 decades. If they were a scam, they wouldn’t have survived for this long.

Does Gaithersburg Coin Exchange Offer Storage?

No, Gaithersburg Coin Exchange does not offer storage. You should have arrangements to store you metals elsewhere.

Does Gaithersburg Coin Exchange Have a Buyback Policy?

Yes, Gaithersburg Coin Exchange has a buyback policy in place and you can sell your coins and old jewelry back to them.

Conclusion

Gaithersburg Coin Exchange is a precious metals dealer mainly involved in selling gold, silver, as well as rare coins and collectibles. The company has recently stocked a few bullion bars as well. With more than 45 years in business, Gaithersburg Coin Exchange has gained trust and popularity among Americans.

Regrettably, Gaithersburg Coin Exchange is not accredited with the BBB and lacks a modern website. Moreover, they do not offer precious metals IRAs or storage facilities, and have also been accused of poor customer service.

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