Modern Coin Mart Reviews- Is It Legit?

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Is Modern Coin Mart legit or scam? Before purchasing anything from this precious metals company, we recommend you read this comprehensive review to get all the facts you need to know about them.

If you’d like to skip straight to our top-rated Gold & Silver IRA Company, check out this page.

What Is Modern Coin Mart?

Modern Coin Mart Reviews

Modern Coin Mart, commonly referred to as MCM, is a precious metals dealer located in Lakewood Ranch, Florida. The company was founded in 2004 and stocks gold, silver, platinum and palladium coins and bars within their extensive catalog. Though MCM has stocked IRA-eligible bullion, they do not appear to offer precious metals IRAs as there’s no mention of them on their website. Below is a quick review summary of Modern Coin Mart.

Modern Coin Mart Review Summary

Location:

Lakewood Ranch, Florida

Address:

5260 Paylor Ln

Lakewood Ranch, FL 34240-2204

Year Founded:

2004

Management:

William J. Gale (President/CEO)

Website:

www.moderncoinmart.com/

Rating:

3 out of 5 stars (3 / 5)

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Modern Coin Mart Products

Modern Coin Mart Products

Modern Coin Mart stocks a wide range of both bullion products and collectibles. Their catalog mainly comprise silver, gold, platinum and palladium products. You will find that they sell both collectibles and IRA-approved coins such as American Eagles. Listed below are some of the available products on Modern Coin Mart’s catalog.

Gold

  • Gold American Eagle
  • Gold American Buffalo
  • Gold Canadian Maple Leaf
  • ¼ o-z Gold Queen’s Beasts
  • PAMP Fortuna Gold Bar

Silver

  • Silver American Eagle
  • Silver Canadian Maple Leaf
  • Silver Krugerrand
  • Silver Kangaroo
  • Silver Morgan Dollar

Platinum

  • Platinum American Eagle
  • Platinum Canadian Maple Leaf
  • Platinum Panda
  • Platinum Kangaroo
  • Great Britain Platinum Britannia

Palladium

  • Palladium American Eagle
  • Palladium Canadian Maple Leaf

How to Get Started

Products are availed on their website. They have a simple ordering system that allows you to quickly select products and move them to the cart. Upon selecting all your desired products, you can then proceed to checkout to complete payment. Accepted Payment Method include e-check, PayPal, Check and Bank Wire.

Modern Coin Mart Pricing

The cost of each product on Modern Coin Mart’s store varies depending on the type of product and the payment method you choose. Also worth noting is the fact that product pricing is largely determined by prevailing market conditions. Detailed pricing information is provided for each product on MCM’s catalog.

Modern Coin Mart IRA Fees

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Modern Coin Mart IRA Custodian & Storage

Currently, Modern Coin Mart is not offering custodial services as they are not a gold IRA company. Besides, MCM is not in partnership with any IRA custodian.

As for storage services, the company doesn’t seem to offer any as there’s no mention of such services on their website. They are also not in partnership with any IRS-approved depository. Thus, it’s up to you to find your own vault to store your assets.

Pros of Modern Coin Mart

  • They have a simple online ordering platform
  • Free shipping on all domestic orders
  • Informative blog
  • Great selection of products
  • Buyback program is offered

Cons of Modern Coin Mart

  • Not that many reviews or ratings are available online despite having been in business since 2004
  • No live chat support
  • Precious metals IRAs are not offered

Modern Coin Mart Ratings & Reviews

Modern Coin Mart is accredited with the Better Business Bureau (BBB) since 2007. Their current BBB customer rating is 3/5 stars based on 8 customer reviews and 7 complaints filed in the last 3 years. On Trustpilot, they boast 2.6/5 stars rating based on 6 reviews. Additionally, Modern Coin Mart Yelp customers have given the company a 2.5/5 rating based on 4 reviews.

MCM has no reviews, complaints or ratings on the Business Consumer Alliance (BCA) and Trustlink.

Is Modern Coin Mart Legit?

And so, is Modern Coin Mart legit or scam? Well, Modern Coin Mart is not a scam but a legit precious metals dealer since 2004. The company offers great products and services and is managed by respected professionals.

Modern Coin Mart Alternatives

Modern Coin Mart Reviews- Summary

Modern Coin Mart is a precious metals company operating from Lakewood Ranch, California. Since 2004, the company has been offering top-quality gold, silver, platinum and palladium products. The cons of Modern Coin Mart include lack of customer reviews and ratings, lack of a liver chat support and failure to offer precious metals IRAs.

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