Eastern Numismatics Inc. is a family-run, full-service rare coin and collectibles company established in 1974. Headquartered in Garden City, New York, with an additional office in Sarasota, Florida, the firm specializes in buying and selling rare coins, currencies, precious metals, and other collectibles. Over its nearly five decades of operation, Eastern Numismatics has served a client base exceeding 50,000 buyers.
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Who are the People Behind Eastern Numismatics?
Eastern Numismatics Inc. is overseen by a leadership team that has deep roots in the numismatic industry, led by individuals who have been part of the coin collecting community for decades. Here’s a more detailed look at the leadership behind Eastern Numismatics:
Scott Mitchell (President and CEO)
Scott Mitchell serves as the President and CEO of Eastern Numismatics Inc. Having been with the company since its early years, Mitchell has played a pivotal role in shaping the firm’s direction and growth. His leadership has steered the company through the ever-evolving landscape of coin collecting and investing, maintaining a focus on customer service and ethical business practices.
Under his tenure, Eastern Numismatics has expanded its services and inventory to cater to a wide range of collectors and investors, from beginners to seasoned numismatists.
As a family-run business, Eastern Numismatics benefits from a leadership approach that values long-term relationships and personal attention to each client. This familial approach extends to how they manage their team and interact with the community, emphasizing trust and integrity.
The leadership team at Eastern Numismatics is supported by a group of expert numismatists, each specializing in different areas of coin collecting, from ancient coins to modern U.S. and world currencies. These experts not only assist with buying and selling but also provide valuable insights and education to clients. The support staff, many of whom have been with the company for numerous years, contribute to the firm’s reputation by ensuring smooth operations and excellent customer service.
Eastern Numismatics’ leaders are active participants in the numismatic community. They are members of major numismatic organizations such as the American Numismatic Association (ANA), the Industry Council for Tangible Assets (ICTA), and the Professional Numismatists Guild (PNG), among others. This involvement helps them stay abreast of industry standards, market trends, and regulatory issues, ensuring the company adheres to the best practices and maintains its reputation as a trusted dealer.
Services Offered by Eastern Numismatics:
– Rare Coins: The company deals in a wide range of rare coins, including those from the United States, Europe, Asia, South America, Africa, and the Middle East, as well as ancient Greek and Roman coins.
– Precious Metals: Eastern Numismatics buys and sells gold, silver, platinum, and palladium bullion products, encompassing both sovereign and private mint issues.
– Appraisal Services: They offer free appraisal and evaluation services for various collectibles, assisting clients in determining the value of their items.
– Certification and Consignment: As authorized dealers for major certification services, they facilitate coin grading and encapsulation. Additionally, they provide consignment services, securing favorable terms from top auction companies.
Contact Information:
– New York Office:
– Address: 642 Franklin Avenue, Garden City, NY 11530
– Phone: (516) 746-6460
– Toll-Free: (800) 835-0008
– Email: help@uscoins.com
– Store Hours: Monday–Friday: 9:30 AM – 4:30 PM; Saturday: By Appointment; Sunday: Closed
– Florida Office:
– Address: 5275 University Pkwy, Suite 129, University Park, FL 34201
– Phone: (941) 952-1052
– Toll-Free: (800) 835-0008
– Email: help@uscoins.com
– Store Hours: Monday–Friday: 9:30 AM – 4:30 PM; Saturday: By Appointment; Sunday: Closed
Eastern Numismatics Inc Products:
Eastern Numismatics Inc., established in 1974, is a family-run, full-service rare coin and collectibles company headquartered in Garden City, New York, with an additional office in Sarasota, Florida. The company offers a diverse range of products catering to collectors and investors alike.
1. Rare Coins
Eastern Numismatics specializes in an extensive array of rare coins, including:
– U.S. Coins: Comprehensive collections spanning various denominations and historical periods.
– World Coins: Specimens from Europe, Asia, South America, Africa, and the Middle East.
– Ancient Coins: Greek and Roman coins, valued for their historical significance and craftsmanship.
The company deals in both non-graded single coins and complete collections, as well as PCGS and NGC certified coins.
2. Precious Metals
For investors seeking tangible assets, Eastern Numismatics offers:
– Gold Bullion: American Gold Eagles, Canadian Gold Maple Leafs, Austrian Gold Philharmonics, Krugerrands, Chinese Gold Pandas, and Good Delivery gold bars and rounds.
– Silver Bullion: American Silver Eagles, pre-1964 U.S. 90% silver coinage, pre-1970 U.S. 40% silver half dollars, Canadian Silver Maple Leafs, Austrian Silver Philharmonics, and Good Delivery silver bars and rounds.
– Platinum and Palladium Bullion: American Platinum Eagles, Canadian Platinum Maple Leafs, Good Delivery platinum bars and rounds, American Palladium Eagles, Canadian Palladium Maple Leafs, and Good Delivery palladium bars and rounds.
These offerings cater to both collectors and investors aiming to diversify their portfolios with precious metals.
3. Currency
The company deals in various forms of currency, including:
– U.S. Bank Notes: Historical and rare paper money from different eras.
– Continental Script Notes: Currency issued during the American Revolutionary period.
– Confederate Notes: Paper money from the Confederate States of America.
– Fractional Issues: Small-denomination currency used during coin shortages.
These items are of particular interest to numismatists and history enthusiasts.
4. Diamonds and Jewelry
Eastern Numismatics also offers:
– Diamonds: GIA and EGL certified diamonds, diamond engagement rings, loose and uncertified diamonds, and exotic stones.
– Gold Jewelry: A selection of jewelry, watches, bullion, and scrap gold.
– Sterling Silver: Items such as flatware, tea sets, serving pieces, coins, jewelry, and collectibles.
These offerings appeal to both collectors and those interested in fine jewelry.
5. Fine Watches
For horology enthusiasts, the company provides:
– Luxury Watches: Brands like Rolex, Patek Philippe, Breitling, Omega, as well as pocket watches and railroad watches.
These timepieces are sought after for their craftsmanship and investment potential.
6. Collectible Cards and Comics
Eastern Numismatics caters to collectors of:
– Sports Cards: Large collections, complete and partial sets, and all certified sports cards, including PSA, BVG, and CSG graded cards.
– Comics: Marvel, DC, and CGC certified comics from the golden and silver ages.
These items are popular among enthusiasts and investors in the collectibles market.
7. Military Collectibles and Antiques
The company also deals in:
– Militaria: Awards, uniforms, equipment, weapons, firearms, and other military collectibles.
– Antiques: Glass signed lamps (e.g., Tiffany, Handel, Pairpoint), oil paintings, antique clocks, coin-operated parlor machines, vintage slot machines, and vintage wind-up toys.
These items hold historical significance and appeal to specialized collectors.
8. Toy Trains
For hobbyists, Eastern Numismatics offers:
– Model Trains: O Gauge, Standard Gauge, HO Scale, G Scale, and Z Scale trains.
These collectibles are cherished by enthusiasts of model railroading.
In summary, Eastern Numismatics Inc. provides a comprehensive range of products, from rare coins and precious metals to collectibles and antiques, catering to a diverse clientele of collectors and investors.
Does Eastern Numismatics Offer Gold IRA?
1. Understanding a Gold IRA:
A Gold IRA is a self-directed retirement account that allows investors to hold physical gold and other approved precious metals as part of their retirement portfolio. This diversification can provide a hedge against market volatility and inflation.
2. Eastern Numismatics’ Role:
While Eastern Numismatics specializes in rare coins and precious metals, they collaborate with IRS-approved custodians to facilitate the inclusion of gold in your IRA. They assist clients in selecting appropriate precious metal products that meet IRS standards for IRA inclusion.
3. Steps to Set Up a Gold IRA with Eastern Numismatics:
– Consultation: Begin by discussing your investment goals with an Eastern Numismatics representative to determine if a Gold IRA aligns with your retirement strategy.
– Select a Custodian: Eastern Numismatics works with reputable custodians, such as New Direction IRA and GoldStar Trust Company, to manage the administrative aspects of your Gold IRA. These custodians ensure compliance with IRS regulations.
– Account Setup: With the chosen custodian, you’ll establish a self-directed IRA account. Eastern Numismatics can guide you through the necessary paperwork and procedures.
– Funding the Account: You can fund your Gold IRA by transferring or rolling over assets from existing retirement accounts, such as a traditional IRA or 401(k). This process is typically tax-free if done correctly.
– Purchasing Precious Metals: Once the account is funded, Eastern Numismatics will help you select IRS-approved gold products to include in your IRA. These metals are then purchased and securely stored in an IRS-approved depository.
4. Storage and Security:
The IRS mandates that precious metals held in an IRA be stored in a qualified depository. Eastern Numismatics ensures that your gold is stored securely in compliance with these regulations.
5. Fees and Considerations:
While Eastern Numismatics provides assistance in purchasing precious metals, custodial and storage fees are typically handled by the chosen custodian. It’s important to discuss and understand all associated fees before proceeding.
6. Benefits of a Gold IRA:
– Diversification: Adding physical gold can diversify your retirement portfolio, potentially reducing risk.
– Inflation Hedge: Gold has historically maintained its value, serving as a hedge against inflation.
– Tax Advantages: Gold IRAs offer similar tax benefits to traditional IRAs, including tax-deferred growth.
7. Important Considerations:
– Eligibility: Not all gold products are eligible for inclusion in an IRA. Eastern Numismatics will guide you in selecting appropriate products.
– Market Risks: Like all investments, gold prices can fluctuate. It’s essential to assess your risk tolerance and investment horizon.
In summary, Eastern Numismatics Inc. facilitates the integration of gold into your retirement planning by collaborating with trusted custodians and providing expertise in precious metals. This service allows investors to diversify their retirement portfolios with physical gold, potentially enhancing financial security in retirement.
More About Their Custodian and Storage Partners:
Eastern Numismatics Inc. collaborates with reputable custodians and storage facilities to facilitate the inclusion of precious metals, such as gold, into Individual Retirement Accounts (IRAs). Here’s an in-depth look at their partners:
1. Custodian Partners:
To comply with IRS regulations, precious metals held within an IRA must be managed by an approved custodian. Eastern Numismatics works with several authorized custodians specializing in precious metal storage. While specific names are not detailed in the available sources, the company mentions that it collaborates with most authorized custodians who specialize in precious metal storage.
2. Storage Partners:
The IRS mandates that precious metals in an IRA be stored in a qualified depository. Eastern Numismatics ensures that your gold is stored securely in compliance with these regulations. However, specific storage partners are not detailed in the available sources.
Key Considerations:
– Security: Both custodians and storage facilities are selected based on their stringent security measures, including 24/7 monitoring, advanced security systems, and comprehensive insurance coverage.
– Compliance: All partners adhere to IRS guidelines for the storage and management of precious metals within IRAs, ensuring legal compliance and the tax-advantaged status of your investments.
– Transparency: Eastern Numismatics emphasizes clear communication regarding fees, storage locations, and account management, providing clients with detailed information to make informed decisions.
By partnering with these custodians and storage facilities, Eastern Numismatics offers a seamless process for clients to incorporate precious metals into their retirement portfolios, ensuring security, compliance, and peace of mind.
Eastern Numismatics Reviews and Ratings:
Eastern Numismatics Inc., established in 1974, is a family-run firm specializing in rare coins and collectibles. Over the years, the company has garnered various reviews across multiple platforms, reflecting diverse customer and employee experiences. Here’s an overview of their ratings on prominent review sites:
1. Better Business Bureau (BBB):
– Rating: A+
– Overview: Eastern Numismatics has been accredited by the BBB since October 1, 1976, maintaining an A+ rating. This rating signifies a high level of trustworthiness and a commitment to resolving customer complaints. The BBB profile indicates that the company has received one complaint in the past three years, which has been resolved.
2. Birdeye:
– Rating: 4.0 out of 5 stars (based on 96 reviews)
– Overview: On Birdeye, Eastern Numismatics holds a 4.0-star rating from 96 customer reviews. Customers have praised the company’s professionalism, extensive inventory, and knowledgeable staff. However, some reviews mention concerns about pricing and customer service experiences.
3. Indeed (Employee Perspective):
– Rating: 4.1 out of 5 stars (based on 7 reviews)
– Overview: From an employee perspective, Eastern Numismatics has received a 4.1-star rating on Indeed. Employees appreciate the flexible work environment and potential for high earnings, while some have expressed concerns about management practices and job security.
4. Glassdoor (Employee Perspective):
– Rating: 2.9 out of 5 stars (based on 3 reviews)
– Overview: Similarly, on Glassdoor, the company has a 2.9-star rating based on three reviews. Employees have highlighted the company’s extensive inventory and the opportunity to learn about rare coins. However, some reviews point to challenges with management and workplace culture.
5. ProvenExpert:
– Rating: 2.24 out of 5 stars (based on 9 reviews)
– Overview: On ProvenExpert, Eastern Numismatics Inc. has a 2.24-star rating based on nine reviews. Customers commend the company’s professionalism, expertise, and the quality of products offered.
Eastern Numismatics Inc. maintains a strong reputation in the numismatic community, as evidenced by its long-standing BBB accreditation and A+ rating.
Customer reviews across various platforms are generally positive, highlighting the company’s extensive inventory and knowledgeable staff.
As with any business, it’s advisable for potential customers and employees to conduct thorough research and consider multiple sources of information before making decisions.
They have also received ratings on Yelp:
Are There Any Lawsuits Against Eastern Numismatics?
Eastern Numismatics Inc. has been involved in legal proceedings in the past. Notably:
1. Eastern Numismatics Inc. v. Binnick (2002): This case involved allegations of misappropriation of trade secrets and a request for an accounting. The plaintiff, Eastern Numismatics, appealed a judgment that dismissed certain causes of action. The appeal was dismissed due to the failure to submit a complete record, specifically missing trial transcripts.
2. Eastern Numismatics Inc. v. JLT Specialty Limited (2022): This case involved a party statement filed by Eastern Numismatics against JLT Specialty Limited and other defendants. The specific details of the case are not provided in the available information.
These cases highlight Eastern Numismatics’ involvement in legal disputes related to trade secrets and other matters.
Eastern Numismatics Review: Conclusion
Overall, Eastern Numismatics seems like a great option for collectors. Whether you’re looking for rare coins or something along the lines of toy trains, you’ll find it here.
However, if you’re looking into opening a gold IRA, I suggest you browse the market further.
There are plenty of options available.
What are your thoughts on Eastern Numismatics Inc? Let me know in the comments.
