Frederick Coin Exchange: Unique Highlights Overview
Frederick Coin Exchange is a distinguished coin dealer located in Frederick, Maryland, renowned for its comprehensive services and commitment to customer satisfaction. Here are some unique highlights that set them apart:
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1. Extensive Inventory of Rare Coins and Bullion
- Diverse Selection: Frederick Coin Exchange offers a vast array of rare coins, including U.S. and world coins, catering to both collectors and investors. Their inventory encompasses gold and silver bullion, estate jewelry, sterling silver flatware, and more.
- Authenticity Assurance: They utilize advanced testing methods, such as the ‘Fisch’ Gold Testing Spoons and Sigma Ultrasound, to verify the authenticity of precious metals, ensuring customers receive genuine products.
2. Comprehensive Appraisal Services
- Free Verbal Appraisals: Customers can benefit from complimentary in-house verbal appraisals, providing immediate insights into the value of their items.
- Written Appraisals: For detailed documentation, they offer written appraisals at a competitive rate, suitable for insurance purposes or potential sales. citeturn0search6
3. Affiliations with Major Numismatic Organizations
- Professional Memberships: As members of esteemed organizations like the American Numismatic Association (ANA), Professional Coin Grading Service (PCGS), and Numismatic Guaranty Corporation (NGC), Frederick Coin Exchange adheres to high industry standards, enhancing their credibility and trustworthiness.
4. Competitive Pricing and Transparent Transactions
- Market-Responsive Rates: They offer competitive buy and sell prices aligned with current market rates, ensuring fair transactions for both buyers and sellers.
- Bulk Pricing: For substantial transactions, such as over 20 ounces of gold or 500 ounces of silver, they provide bulk pricing options, offering cost advantages to investors.
5. Educational Resources and Customer Engagement
- Informative Content: Frederick Coin Exchange is dedicated to educating their clients, offering resources like a free Gold Information Kit and informative videos on topics such as coin grading and precious metals testing.
- Community Involvement: Their active participation in community events and commitment to customer education fosters a welcoming environment for both novice and seasoned collectors.
6. Exceptional Customer Reviews and Reputation
- High Customer Ratings: With an average rating of 4.89 stars across multiple review platforms, Frederick Coin Exchange has earned a strong reputation for customer satisfaction and service excellence.
- Trusted Dealer: Recognized as one of the area’s most trusted dealers in U.S. coins, gold, and silver bullion, their longstanding presence and positive customer feedback underscore their reliability.
In summary, Frederick Coin Exchange distinguishes itself through its extensive inventory, commitment to authenticity, comprehensive appraisal services, professional affiliations, competitive pricing, educational initiatives, and exceptional customer satisfaction. These attributes make them a preferred destination for collectors and investors seeking a reputable and knowledgeable coin dealer.
Who are the People Behind Frederick Coin Exchange?
Frederick Coin Exchange is led by Matt Lerner, a seasoned numismatist with over two decades of experience in the coin industry.
Matt Lerner’s Background:
- Early Passion for Numismatics: Matt’s interest in coin collecting began at the age of five. By 11, he was assisting at a local coin shop, and by 13, he was selling coins online, demonstrating an early entrepreneurial spirit.
- Educational Pursuits: He graduated from the University of Wisconsin-Madison with a degree in marketing, further enhancing his business acumen.
- Professional Affiliations: Matt is a member of the American Numismatic Association (ANA) and the Professional Numismatists Guild (PNG), organizations that uphold high ethical standards in the numismatic community.
- Community Engagement: Beyond his professional endeavors, Matt is actively involved in philanthropic activities, supporting local organizations such as the Salvation Army of Frederick and the Middletown Valley Food Bank.
Frederick Coin Exchange Team:
The success of Frederick Coin Exchange is also attributed to its dedicated team members, including:
- Eric: A retail associate since 2017, Eric has a keen interest in jewelry and coins, particularly Carson City Mint Morgan Silver Dollars.
- Brian: With over 13 years of experience, Brian specializes in world coins, with a focus on Australian and British issues. His favorite coin is the low mintage 1948 Canadian Dollar.
This combination of leadership and a knowledgeable team positions Frederick Coin Exchange as a reputable and customer-focused establishment in the numismatic community.
Does Frederick Coin Exchange Offer IRA Services?
Frederick Coin Exchange does not offer Individual Retirement Account (IRA) services. Their primary focus is on buying and selling coins, currency, and precious metals, such as gold, silver, platinum, palladium, and rhodium. They provide services like free in-person appraisals and written appraisals for a fee, but they are not partnered with any precious metal IRA custodians and do not provide resources for setting up a Gold IRA.
Therefore, clients interested in incorporating precious metals into their retirement accounts would need to seek a separate company to serve as an IRA custodian and to store the physical gold and silver as designated by the IRS.
What Products Can You Purchase at Frederick Coin Exchange?
Frederick Coin Exchange offers a wide range of products catering to coin collectors, precious metals investors, and those interested in historical and valuable items. Here’s a detailed breakdown of their inventory:
Rare and Collectible Coins
U.S. Coins
- Silver Dollars:
- Morgan Silver Dollars (1878–1921)
- Peace Silver Dollars (1921–1935)
- Gold Coins:
- Pre-1933 U.S. Gold Coins (e.g., $5 Liberty, $10 Indian Head, and $20 Saint-Gaudens Double Eagle)
- Commemorative Coins:
- Coins issued to celebrate significant U.S. historical events or figures.
- Modern Coins:
- American Silver Eagle
- American Gold Eagle
- American Buffalo Gold Coins
- Sets and Collections:
- Proof and uncirculated sets from the U.S. Mint.
World Coins
- Gold Sovereigns and Other International Gold Coins:
- British Sovereigns
- Canadian Gold Maple Leafs
- South African Krugerrands
- Silver World Coins:
- Canadian Silver Maple Leafs
- Mexican Libertads
- Australian Kookaburras and Koalas
Ancient Coins
- Roman and Greek Coins:
- Authentic coins from ancient civilizations, catering to history enthusiasts and collectors.
Precious Metals Bullion
Gold Bullion
- Bars:
- Available in various sizes, from small fractional bars (1 gram) to larger sizes (1 kilogram).
- Sourced from reputable refiners like PAMP Suisse and Credit Suisse.
- Coins:
- Popular gold bullion coins such as American Gold Eagles, Canadian Gold Maple Leafs, and Austrian Philharmonics.
Silver Bullion
- Bars:
- Weight options ranging from 1 oz to 100 oz.
- Trusted brands like Johnson Matthey and Engelhard.
- Rounds:
- Generic silver rounds featuring unique designs.
- Coins:
- American Silver Eagles and other globally recognized silver coins.
Platinum and Palladium Bullion
- Platinum Coins and Bars:
- Options like the American Platinum Eagle and Canadian Platinum Maple Leaf.
- Palladium Coins and Bars:
- Limited options for palladium investors.
Rhodium Bullion
- Rare rhodium bullion products for specialized investors.
Paper Currency
- U.S. Paper Money:
- Large-size notes such as Silver Certificates, Gold Certificates, and early Federal Reserve notes.
- Confederate currency from the Civil War era.
- Fractional currency notes.
- World Banknotes:
- Historical and modern banknotes from various countries.
Numismatic Supplies
- Storage Solutions:
- Coin albums, holders, and display cases for protecting and organizing collections.
- Magnification Tools:
- Loupes and magnifiers for examining the details of coins and banknotes.
Jewelry and Estate Items
- Estate Jewelry:
- High-quality vintage and estate jewelry.
- Sterling Silver Flatware:
- Antique and modern sterling silver flatware sets.
- Gold and Silver Accessories:
- Jewelry and accessories made from gold and silver, suitable for collectors or gifts.
Appraisal and Auction Services
- Appraisal Services:
- Free verbal appraisals for coins, bullion, and jewelry.
- Written appraisals available for a fee, often used for insurance or estate purposes.
- Auction Opportunities:
- Access to rare and valuable items through in-house or external auctions.
Buyback and Trade Services
- Precious Metals Buyback:
- Competitive pricing for gold, silver, platinum, and palladium bullion.
- Coin Buyback:
- Fair offers for rare and collectible coins.
Specialty and Themed Items
- Holiday-Themed Coins:
- Coins and bullion with designs tailored for special occasions like Christmas or anniversaries.
- Custom Sets:
- Unique collections tailored to customer preferences.
Why Choose Frederick Coin Exchange?
- Authenticity Guarantee:
- All products are rigorously tested to ensure authenticity and quality.
- Wide Inventory:
- Diverse offerings for both beginner and seasoned investors/collectors.
- Transparent Pricing:
- Fair market-based prices for buying and selling.
- Expert Guidance:
- A knowledgeable team to assist with selecting and valuing products.
Frederick Coin Exchange provides an extensive selection of coins, bullion, and collectible items, appealing to both investors and collectors. Their commitment to quality, authenticity, and customer satisfaction ensures a valuable experience for all clients. For specific inventory and pricing, visiting their showroom or contacting them directly is recommended.
Frederick Coin Exchange Fees and Pricing:
Frederick Coin Exchange is renowned for its transparent and competitive pricing structure, ensuring clients receive fair market value for their transactions. Here’s an overview of their fees and pricing:
Competitive Market-Based Pricing
- Alignment with Market Rates: Frederick Coin Exchange closely monitors current market prices for precious metals, adjusting their buy and sell rates accordingly to reflect real-time market conditions.
- Bulk Pricing Discounts: They offer bulk pricing for substantial transactions, providing cost advantages for larger purchases or sales.
Appraisal Services
- Free Verbal Appraisals: Clients can receive complimentary in-person verbal appraisals for their items, offering immediate insights into value without any cost.
- Written Appraisals: For detailed documentation, written appraisals are available at a rate of $75 per hour for in-store evaluations and $150 per hour for out-of-store services.
Sales Tax Considerations
- Maryland Sales Tax: In Maryland, purchases over $1,000 are exempt from sales tax, providing a tax advantage for larger transactions.
Payment and Transaction Policies
- Accepted Payment Methods: They accept checks and wires for transactions. All checks must clear before shipping, with specific clearance times depending on the type of check.
- Order Cancellation Policy: A credit card is required to hold orders. If payment is not mailed or wired within 24 hours, the credit card may be charged the market difference plus additional fees per ounce of silver or gold ordered.
Shipping and Insurance
- Shipping Fees: Orders under $1,000 incur a $5 shipping and full insurance fee. Orders over $1,000 qualify for free shipping and full insurance, enhancing value for larger purchases.
Transaction Age Requirement
- Age Policy: Frederick Coin Exchange does not purchase items from individuals under 25 years of age, ensuring compliance with their business policies. citeturn0search6
What Do Frederick Coin Exchange Reviews Say?
Frederick Coin Exchange has garnered positive feedback across various review platforms, reflecting its reputation and customer satisfaction. Here’s an overview of their ratings:
- Google Reviews: The business holds a 4.6 out of 5-star rating, based on 257 customer reviews. Customers frequently commend their excellent customer service, professionalism, and expertise.
- Top Rated Local: On this platform, Frederick Coin Exchange boasts an average rating of 4.89 stars out of 5, aggregated from 206 ratings across three verified review sites. This impressive score contributes to a Rating Score™ of 94.86. citeturn0search6
- Chamber of Commerce: The business has a 4.7-star rating, derived from 253 reviews. Reviewers highlight the knowledgeable staff and fair pricing.
- Cloutly: Frederick Coin Exchange is rated 4.2 out of 5 stars, based on 5 reviews. While the sample size is smaller, the feedback remains predominantly positive.
These ratings underscore Frederick Coin Exchange’s commitment to providing quality service and maintaining customer satisfaction across multiple platforms.
Examples of Frederick Coin Exchange Reviews:
They were moving and needed to get an old coin collection evaluated and sold. Making an appointment had been very easy. The location had been incredibly convenient, and the interior had been quite interesting, featuring brick walls and piping that gave it an industrial feel.
They felt fortunate to have Robbie as their appraiser. He had been very knowledgeable and had taken plenty of time to explain all the coins to them and their value. He learned a great deal that day and had fun. They offered competitive prices, and the individual was able to get the money right away for the collection. They had been able to pay in cash. They also assessed jewelry.
They had coins or jewelry that they wanted to have valued or sold, and they highly recommended using them. They could walk in, but if they did not want to wait, it was suggested that they make an appointment ahead of time.
That had been their first experience at Frederick Coin Exchange, and it had been great. They were lucky enough to have the amazing Nao help them. She was very enjoyable and possessed an incredible knowledge of coins, metals, and more. He brought a wide variety of items in to sell, and she had knowledge of almost everything. It felt as though one received a brief lesson in history or science with each piece. Honestly, Nao needed her own TV show. She was fantastic! She was very pleased with the amount that was offered for what she brought in. Without question, he had decided to return to Frederick Coin Exchange and had already recommended it to friends and family.
Why aren’t There Many Frederick Coin Exchange Complaints?
The scarcity of complaints about Frederick Coin Exchange can be attributed to several factors that demonstrate the company’s dedication to quality service, transparency, and customer satisfaction. Here’s a detailed analysis:
Commitment to Customer-Centric Service
- Personalized Attention:
- The team at Frederick Coin Exchange provides tailored assistance to each client, ensuring their needs and concerns are addressed.
- Knowledgeable Staff:
- Their experienced staff offers expert guidance on numismatics and precious metals, reducing confusion and fostering trust.
Transparent Pricing
- Market-Based Rates:
- Frederick Coin Exchange aligns its pricing with current market conditions, ensuring fair and competitive rates for both buying and selling.
- Clear Communication:
- Customers are well-informed about pricing structures and transaction terms, minimizing misunderstandings.
High-Quality Products and Services
- Authenticity Guarantee:
- The business employs rigorous testing methods to ensure the authenticity of their coins and bullion, giving customers confidence in their purchases.
- Comprehensive Offerings:
- From rare coins to bullion and estate jewelry, their diverse inventory meets the needs of collectors and investors alike.
Positive Online Reputation
- High Ratings Across Platforms:
- Frederick Coin Exchange consistently receives high ratings on platforms like Google (4.6/5) and Top Rated Local (4.89/5), indicating strong customer satisfaction.
- Loyal Clientele:
- Repeat customers and word-of-mouth referrals reflect their dedication to maintaining a positive reputation.
Proactive Issue Resolution
- Responsive Support:
- The company addresses customer inquiries and concerns promptly, resolving issues before they escalate.
- In-House Appraisals:
- Their free verbal appraisals and professional written appraisals offer transparency and accuracy, reducing disputes.
Specialized Niche
- Targeted Audience:
- By focusing on numismatics and precious metals, Frederick Coin Exchange attracts clients with realistic expectations and specific interests.
- Educated Buyers:
- Their clientele often includes seasoned collectors and investors who are familiar with the industry and appreciate the company’s expertise.
Secure and Convenient Transactions
- In-Store Transactions:
- The majority of transactions are conducted in their secure showroom, allowing customers to inspect items personally and ensure satisfaction.
- Shipping Policies:
- Orders over $1,000 include free insured shipping, reducing concerns about delivery-related issues.
Professional Affiliations
- Accreditation and Memberships:
- As members of the American Numismatic Association (ANA) and Professional Numismatists Guild (PNG), Frederick Coin Exchange adheres to high ethical standards, reinforcing trust among customers.
Limited Complaints Reflect High Satisfaction
- Few Reported Issues:
- Platforms like the Better Business Bureau (BBB) and Google reviews indicate minimal complaints, highlighting the company’s consistent service quality.
- Swift Resolution:
- When issues do arise, they are addressed quickly, reflecting the company’s commitment to customer satisfaction.
Longstanding Reputation
- Established Business:
- With years of experience in the industry, Frederick Coin Exchange has built a solid reputation for integrity and reliability.
- Community Engagement:
- Their involvement in local events and support for the community further strengthens their relationship with clients.
The lack of complaints about Frederick Coin Exchange stems from their emphasis on transparency, authenticity, and exceptional customer service. Their proactive approach to resolving concerns, coupled with a knowledgeable and professional team, has earned them the trust and loyalty of their customers.
Are There Any Frederick Coin Exchange Lawsuits?
No.
We didn’t find any lawsuits involving this coin dealer.
Can You Trust Frederick Coin Exchange? Is Frederick Coin Exchange Legit?
Yes.
They are a legit company with a long legacy.
Whenever you’re skeptical of any company, keep the following tips 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.
Frederick Coin Exchange Review Summary:
Overall, Frederick Coin Exchange stands out as a reliable coin dealer.
They have received hundreds of reviews across different platforms.
What are your thoughts on this company?
Let us know in the comments.
