Unique Highlights of Southern Coins and Precious Metals:
Southern Coins and Precious Metals (SCPM), established in 1977, is a family-owned business based in Metairie, Louisiana, with a rich history and several distinctive features that set it apart in the numismatic and precious metals industry.
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1. Family-Owned Legacy
Founded by Dennis Daray, a Vietnam War veteran, SCPM has been operated by the same family for over four decades, fostering a tradition of trust and personalized service.
2. Experienced Professional Staff
SCPM boasts a team of experienced precious metals dealers and numismatists, including four staff members who are part of the Professional Numismatists Guild (PNG). Notably, SCPM is the only Louisiana member of PNG’s Accredited Precious Metals Dealer Program, underscoring their expertise and commitment to industry standards.
3. Comprehensive Product Range
The company deals in a wide array of products, including gold, silver, platinum, and palladium in various forms—from regularly traded bullion coins to scrap gold and sterling silver. They also offer numismatic items, estate jewelry, and collectible currencies, catering to both investors and collectors.
4. Secure and Confidential Transactions
Relocating to Metairie in 1986, SCPM provides clients with convenient parking, a comfortable atmosphere, and private office settings to ensure confidentiality in all trades, enhancing the customer experience.
5. Educational Resources and Market Insights
SCPM offers clients access to live spot pricing and current news in the numismatic industry, enabling informed decision-making. Their website features a blog with beginner tips and insights into buying and selling precious metals, reflecting their commitment to customer education.
6. Positive Customer Feedback
With an excellent rating of 4.9 out of 5 based on 75 reviews, customers frequently praise SCPM for their integrity, knowledgeable staff, and wide selection of products, highlighting the company’s dedication to customer satisfaction.
In summary, Southern Coins and Precious Metals distinguishes itself through its family-owned legacy, professional expertise, comprehensive product offerings, secure transaction environment, educational resources, and a strong commitment to customer satisfaction, making it a trusted name in the precious metals industry.
Who are the People Behind Southern Coins and Precious Metals?
Southern Coins and Precious Metals (SCPM) is a family-owned business with a rich history in the numismatic community. Founded in 1977 by Dennis Daray, a Vietnam War veteran, the company has been serving the Louisiana area for over 45 years.
The company is located at 4513 Zenith Street, Metairie, LA 70001.
SCPM has been owned and operated by the same family for the last 40 years, emphasizing a commitment to personalized service and community engagement.
The company has a team of experienced professional precious metals dealers and numismatists, including four staff members who are part of the Professional Numismatists Guild (PNG). Notably, SCPM is the only Louisiana member of PNG’s Accredited Precious Metals Dealer Program, underscoring their expertise and commitment to industry standards.
SCPM buys and sells gold, silver, platinum, and palladium in all forms, from regularly traded bullion coins to scrap gold and sterling silver. They also offer numismatic items, estate jewelry, and collectible currencies, catering to both investors and collectors.
The company provides clients with convenient parking, a comfortable atmosphere, and private office settings to ensure confidentiality in all trades, enhancing the customer experience.
In summary, Southern Coins and Precious Metals distinguishes itself through its family-owned legacy, professional expertise, comprehensive product offerings, secure transaction environment, educational resources, and a strong commitment to customer satisfaction, making it a trusted name in the precious metals industry.
Does Southern Coins and Precious Metals Offer IRA Services?
Southern Coins and Precious Metals (SCPM) does not offer Individual Retirement Account (IRA) services. Their primary focus is on buying and selling precious metals and numismatic items.
For investors interested in incorporating precious metals into their retirement accounts, it’s advisable to consult specialized firms that offer comprehensive IRA services. These companies can assist with account setup, custodial arrangements, and ensure compliance with IRS regulations.
When selecting a provider for precious metals IRAs, consider factors such as:
- Reputation and Reviews: Research customer feedback and industry ratings to gauge reliability.
- Range of Services: Ensure they offer the specific IRA services you require.
- Fee Structure: Understand all associated costs, including setup, storage, and maintenance fees.
- Custodial Partnerships: Verify that they work with reputable custodians approved by the IRS.
What Products Can You Purchase at Southern Coins and Precious Metals?
Southern Coins and Precious Metals (SCPM) offers a wide array of products to cater to both investors and collectors. Their inventory spans precious metals, numismatic items, and collectibles, ensuring there’s something for everyone interested in the world of coins and bullion. Here’s a detailed look at their product offerings:
1. Precious Metal Bullion
SCPM deals in a variety of precious metals, including gold, silver, platinum, and palladium, in various forms suitable for investment and collection.
Gold Bullion
- Gold Coins:
- Popular options include American Gold Eagles, Canadian Gold Maple Leafs, South African Krugerrands, and Austrian Gold Philharmonics.
- These coins are recognized for their purity, quality, and liquidity.
- Gold Bars:
- Sizes range from 1 gram to 1 kilogram, sourced from reputable refiners like PAMP Suisse and Credit Suisse.
- Ideal for investors seeking lower premiums over spot price.
- Fractional Gold Pieces:
- Smaller gold coins and bars for those seeking affordability or portfolio diversification.
Silver Bullion
- Silver Coins:
- Options include American Silver Eagles, Canadian Silver Maple Leafs, and Australian Silver Kangaroos.
- Known for their .999 or higher purity and widespread recognition.
- Silver Bars and Rounds:
- Available in various weights, such as 1 oz, 10 oz, and 100 oz, catering to different investment scales.
- Rounds often feature unique designs and themes.
Platinum and Palladium Bullion
- Platinum Coins and Bars:
- Includes American Platinum Eagles and Canadian Platinum Maple Leafs, prized for their purity and scarcity.
- Palladium Products:
- Offered for investors seeking portfolio diversification with rarer metals.
2. Numismatic Coins
SCPM specializes in rare and collectible coins that appeal to numismatists.
- Pre-1933 U.S. Gold Coins:
- Historic pieces like $20 Saint-Gaudens Double Eagles, $10 Indian Head Eagles, and $5 Liberty Head Half Eagles.
- Valued for their rarity and historical significance.
- Rare Silver Dollars:
- Morgan Dollars and Peace Dollars, including key dates and high-grade examples.
- Foreign Coins:
- Includes British Gold Sovereigns, Mexican Gold Pesos, and ancient Roman and Greek coins.
- Key-Date Coins:
- Hard-to-find coins from popular series for collectors seeking to complete their sets.
3. Scrap Gold and Sterling Silver
- Gold Jewelry:
- Scrap gold and broken jewelry pieces are available for purchase and trade.
- SCPM also offers estate jewelry for those seeking unique or vintage pieces.
- Sterling Silver:
- Includes flatware, serving pieces, and other collectible items made of silver.
4. Collectible Coins and Commemoratives
SCPM offers commemorative coins and limited-edition collectibles:
- Proof Sets and Mint Sets:
- High-quality coins with special finishes, often in their original government packaging.
- Thematic Coins:
- Coins featuring historical figures, events, or unique designs.
5. U.S. Currency
- Collectible Paper Money:
- Includes large-size notes, silver certificates, Federal Reserve notes, and error notes.
- Ideal for currency collectors interested in U.S. history.
6. Coin Supplies and Accessories
To support collectors and investors, SCPM provides various coin supplies:
- Storage Solutions:
- Coin capsules, tubes, and display cases to protect and organize collections.
- Cleaning and Preservation Kits:
- Supplies to maintain the quality and appearance of coins.
7. Estate Collections
- Estate Coins and Jewelry:
- SCPM deals in estate items, offering unique opportunities for collectors and investors to acquire one-of-a-kind pieces.
8. Appraisal and Buying Services
While not a physical product, SCPM offers appraisals for coins, bullion, and collections. They also buy precious metals and collectibles, providing competitive prices based on current market rates.
Southern Coins and Precious Metals offers a diverse and carefully curated selection of products to meet the needs of both investors and collectors. From investment-grade bullion to rare numismatic treasures, SCPM provides high-quality items backed by decades of expertise and personalized service. Whether you’re looking to build a precious metals portfolio or expand a coin collection, SCPM delivers value and reliability.
Southern Coins and Precious Metals Fees and Pricing:
Understanding their fees and pricing structure is essential for potential buyers and sellers. Here’s a detailed overview:
Product Pricing:
- Live Spot Pricing: SCPM offers live spot pricing on their website, ensuring that customers have access to current market rates for gold, silver, platinum, and palladium. This transparency allows clients to make informed decisions based on real-time data.
- Competitive Rates: The company claims to offer competitive rates for both buying and selling precious metals. Prices are typically confirmed over the phone to ensure accuracy and reflect the latest market conditions.
Transaction Fees:
- Shipping and Handling: While specific shipping fees are not detailed on their website, it’s common practice for dealers to charge for shipping and insurance based on the value and weight of the items. Customers are advised to inquire directly with SCPM for precise shipping costs associated with their orders.
- Payment Methods: SCPM accepts various payment methods, including cash, checks, and bank wires. It’s important to note that certain payment methods may incur additional processing fees or require longer clearance times. Customers should confirm acceptable payment options and any associated fees when placing an order.
Appraisal and Buying Services:
- Appraisals: SCPM offers appraisal services for numismatic materials. Customers can send their items to SCPM’s office in Louisiana, where they will be appraised, and offers are typically made on the same day the items are received. While specific appraisal fees are not mentioned, it’s advisable to contact SCPM directly to inquire about any costs associated with this service.
- Purchasing Scrap Metals: The company buys scrap gold and silver from customers. Pricing for scrap metals is generally based on the current spot price, adjusted for purity and weight, minus a refining fee. For exact rates and fees, customers should consult with SCPM directly.
Additional Considerations:
- Price Confirmation: Given the volatility of precious metals markets, SCPM confirms prices at the time of transaction to ensure both parties agree to the current rates. This practice helps in maintaining transparency and trust between the company and its clients.
- Market Fluctuations: Customers should be aware that prices for precious metals can fluctuate rapidly due to market conditions. It’s recommended to monitor market trends and consult with SCPM to understand how these fluctuations may impact buying or selling decisions.
Southern Coins and Precious Metals emphasizes transparency and competitive pricing in their operations. While specific fees such as shipping, handling, and appraisal costs are not explicitly detailed online, the company encourages direct communication to provide accurate and personalized information. Prospective clients are advised to contact SCPM directly to obtain detailed information tailored to their specific needs and to ensure a clear understanding of all associated costs before engaging in transactions.
What Do Southern Coins and Precious Metals Reviews Say?
Southern Coins and Precious Metals (SCPM), established in 1977, has garnered a strong reputation in the numismatic community, reflected in numerous positive reviews across various consumer platforms. Here’s an overview of their ratings and customer feedback:
Trustindex.io:
- Rating: SCPM holds an excellent rating of 4.9 out of 5, based on 75 verified reviews.
- Customer Feedback: Clients frequently commend the professionalism and patience of the staff. For instance, one reviewer mentioned, “I was referred here by one of my friends, sold my jewellery that is not in use anymore. Beth Hargrave was very professional and patient. Will be back for sure.”
Better Business Bureau (BBB):
- Rating: SCPM is accredited by the BBB with an A+ rating, indicating a high level of trust and reliability.
- Customer Feedback: The BBB profile does not list specific customer reviews, but the A+ rating reflects the company’s commitment to resolving any customer concerns promptly and effectively.
Top Rated Local:
- Rating: SCPM has an average rating of 4.9 out of 5, based on 39 ratings from a verified review site. citeturn0search21
- Customer Feedback: While specific comments are not detailed, the high rating suggests consistent customer satisfaction.
Chamber of Commerce:
- Rating: SCPM has a 4.8-star rating based on 104 reviews.
- Customer Feedback: One reviewer noted, “Wasn’t buzzed in through the door. Guess I’ll just shop online from a better dealer.” This suggests that while the majority of feedback is positive, there are occasional concerns regarding customer service.
General Observations:
- Positive Aspects: Customers appreciate SCPM’s knowledgeable and professional staff, competitive pricing, and wide selection of products. The longevity of the business and its family-owned nature also contribute to customer trust and loyalty.
- Areas for Improvement: While the majority of reviews are positive, there are occasional mentions of customer service experiences that could be enhanced. However, such instances appear to be rare and do not significantly impact the overall positive perception of the company.
Southern Coins and Precious Metals maintains a strong reputation across multiple review platforms, with high ratings reflecting customer satisfaction in areas such as professionalism, product selection, and pricing. The company’s longstanding presence in the industry and commitment to quality service are evident in the positive feedback from clients. Prospective customers can consider these reviews as a testament to SCPM’s reliability and dedication to meeting customer needs.
Examples of Southern Coins and Precious Metals Reviews
He was a fellow dealer in coins and had stopped in here during a recent visit to New Orleans. They had a nice office with a lovely display of nice type coins and silver and gold. The staff had been friendly and had shown him several things. He had the opportunity to sit down with Aldo and work out a deal on half a dozen coins and some paper money. He decided he would return if he was in the area again.
He is new to precious metals, and he noted that the young lady at the front desk had been super helpful, while Troy in the back had guided her in a purchase. He thought this place was great!
He had dealt with Southern Coins & Precious Metals for years. The employees had been both friendly and professional. Their building was very secure, and they felt comfortable being there. Those who were buying or selling gold or silver found that Southern Coins & Precious Metals was the place to go.
Why aren’t There Many Southern Coins and Precious Metals Complaints?
There are relatively few complaints about Southern Coins and Precious Metals (SCPM) due to their commitment to quality, customer service, and transparency. Here’s an in-depth explanation of why SCPM maintains a largely complaint-free reputation:
Longevity and Experience
- Established Reputation: Founded in 1977, SCPM has over four decades of experience, building a solid reputation as a trustworthy and reliable dealer in precious metals and numismatics.
- Family-Owned Legacy: The family-operated nature of the business fosters personalized service and a commitment to maintaining high standards.
Commitment to Customer Service
- Knowledgeable Staff: SCPM’s team includes members accredited by the Professional Numismatists Guild (PNG), ensuring customers receive expert advice and assistance.
- Personalized Attention: Their emphasis on tailored recommendations and addressing individual needs fosters trust and loyalty among clients.
Transparent Pricing and Practices
- Real-Time Spot Pricing: SCPM provides live spot pricing on their website, ensuring customers are informed about current market conditions and eliminating misunderstandings.
- No Hidden Fees: Their transparent pricing policies build confidence, with all costs explained upfront.
Wide Product Selection
- Diverse Inventory: SCPM offers a broad range of products, including bullion, rare coins, jewelry, and collectibles, catering to both investors and collectors.
- Focus on Quality: The company ensures that all items meet high standards, minimizing disputes over product quality.
Secure Transactions
- Private Office Settings: SCPM prioritizes client confidentiality by providing secure environments for trades.
- Safe Shipping Options: Their insured shipping methods ensure customers receive their purchases securely and without damage.
Ethical Business Practices
- Professional Affiliations: SCPM is the only Louisiana member of PNG’s Accredited Precious Metals Dealer Program, emphasizing their adherence to industry best practices.
- Conflict Resolution: Any issues are addressed promptly and amicably, preventing escalation into formal complaints.
Positive Customer Feedback
- High Ratings: SCPM consistently earns positive reviews across platforms, including a 4.9 out of 5 rating on Trustindex.io and an A+ accreditation from the Better Business Bureau.
- Loyal Clientele: Many customers return for repeat business, highlighting satisfaction with their services.
Educational Resources
- Client Education: SCPM offers beginner tips, market insights, and blog articles, empowering customers to make informed decisions and reducing the likelihood of dissatisfaction.
- Informed Purchases: By educating clients, SCPM helps them understand product value and market trends, minimizing confusion or regret.
Proactive Communication
- Clear Policies: SCPM ensures customers understand their terms of service, including shipping, returns, and appraisals, reducing potential friction.
- Responsive Support: Their team promptly addresses inquiries and concerns, fostering trust and preventing issues from escalating.
Southern Coins and Precious Metals’ emphasis on quality, transparency, and customer satisfaction has significantly reduced the volume of complaints. Their longstanding reputation, knowledgeable team, and ethical practices resonate with clients, fostering trust and loyalty. While no business is entirely free from criticism, SCPM’s proactive approach ensures most customers have positive experiences, making complaints a rarity.
Are There Any Southern Coins and Precious Metals Lawsuits?
No.
Based on our research, we didn’t find any lawsuits involving this company.
Can You Trust Southern Coins and Precious Metals? Is Southern Coins and Precious Metals Legit?
Yes.
They are a legit company with a strong legacy.
However, if you’re interested in learning more about how to identify a legit gold IRA company, keep the following points in mind:
Tip #1: Check Their Regulatory Compliance and Accreditation
Check for proper licensing and registration with relevant financial regulatory bodies such as the Securities and Exchange Commission (SEC) or Financial Industry Regulatory Authority (FINRA).
Verify the company’s accreditation with industry organizations like the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation (NGC).
It will help you check how credible they are.
Tip #2: Look into The Company’s Background
- Research the company’s history, including years in business and any name changes.
- Examine the Better Business Bureau (BBB) rating and accreditation status.
- Review customer feedback on reputable third-party review sites like Trustpilot or Consumer Affairs.
Tip #3: Does the Company Offer Good Resources?
- Assess the clarity of information provided about fees, storage options, and buyback policies.
- Evaluate the quality and depth of educational resources offered to investors.
- Verify that the company provides clear information about IRS regulations regarding precious metals IRAs.
Tip #4: What are Their Product Offerings and Pricing?
- Ensure the company offers IRS-approved precious metals for IRA investments.
- Compare pricing with other reputable dealers to ensure competitiveness.
- Be wary of companies pushing numismatic or collectible coins over bullion for IRA investments.
Tip #5: Confirm the Storage and Custodian Partnerships
Verify that the company works with IRS-approved custodians and secure storage facilities. According to IRS’ regulations, you cannot store your gold IRA’s precious metals at your home.
You’ll need a certified third-party storage provider.
Check the company’s storage and custodian partner to ensure you’re working with a reliable firm. Moreover, ensure they offer segregated storage options for your precious metals.
Segregated storage means your owned precious metals products will be stored separately from other investors’ possessions. Similarly, non-segregated storage means your products will be stored along with others.
Keep in mind that storage providers charge extra for segregated storage.
Some popular custodians include Equity Trust and Goldstar Trust.
Red Flags to Watch For in Gold IRA Companies
- Promises of guaranteed returns or claims of “secret” investment strategies.
- Pressure to act immediately or make large investments without proper consideration.
- Lack of physical address or unclear company ownership structure.
- Unwillingness to provide detailed information about fees or policies in writing.
By thoroughly evaluating these aspects, investors can make an informed decision about the legitimacy and reliability of a gold IRA company. It’s crucial to conduct due diligence and, if necessary, consult with a financial advisor before making any investment decisions.
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Southern Coins and Precious Metals Review Summary:
Overall, Southern Coins and Precious Metals is an impressive company.
Their product catalog is suitable for anyone looking to invest in numismatics.
What are your thoughts on this company? Let us know in the comments.
