Missouri Coin Company: Unique Highlights Overview
Missouri Coin Company sells precious metals in Des Peres. Since 1979, it has sold gold and silver bullion coins and bars. The organization provides IRA services with Midland IRA and the Entrust Group.
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What is the Missouri Coin Company?
Missouri Coin Company, established in 1979, operates as a reputable coin dealer located in Des Peres, Missouri. You can find their office on Manchester Rd, with the specific address being Des Peres, MO 63131. For inquiries, they can be reached at 314-965-9797.
The business welcomes clients from Tuesday through Friday, between 9:00 am and 5:00 pm, and on Saturdays from 9:00 am to 2:00 pm, providing ample opportunity for visits during the week.
Over the years, Missouri Coin Company has built strong partnerships with two esteemed IRA custodians, Midland IRA, and the Entrust Group, enhancing their service offerings and providing tailored retirement solutions through precious metals IRAs. These partnerships enable Missouri Coin Company to offer expanded services that meet the diverse investment needs of their clients, emphasizing their commitment to customer service and investment security.
Who are the People Behind Missouri Coin Company?
Additionally, the website of the organization does not disclose any specific information regarding its management team.
A survey conducted in 2016 revealed that customers had a preference for organizations that are open over those that are not.
On the other hand, you can also go to their store and talk to them in person.
It is important to note that a significant number of bullion dealers keep their leadership information confidential. Quite a few factors can be responsible for this.
It is stated on the Missouri Coin BBB page that Dennis McCormick serves as the President of the company, while Matt McCormick serves as the Vice President of the company.
In the “About Us” section of its website, the company indicates that its employees have a combined experience in numismatics that exceeds one hundred years.
Does Missouri Coin Company offer IRA Services?
Yes, Missouri Coin has established partnerships with two IRA custodians to facilitate gold IRA services: The Entrust Group and Midland IRA. The process for signing up is straightforward and aimed at making the transition into investing in precious metals as easy as possible for clients.
To begin, you would select your preferred custodian either The Entrust Group or Midland IRA, and open an account with them. During this process, you’ll specify Missouri Coin as your chosen precious metals dealer. Once your account is set up, the next step involves funding your IRA. This can be accomplished by either rolling over funds from an existing IRA or by contributing new funds for the current year.
After your IRA is funded, you’re ready to start purchasing precious metals. Missouri Coin offers a selection of metals that are eligible for IRA investments, and you can choose from their inventory to diversify and secure your retirement portfolio. This method not only streamlines the investment process but also ensures that your retirement planning is backed by tangible assets, providing a stable foundation for your financial future.
What Products Can You Purchase at Missouri Coin Company?
There is a specialized variety of gold and silver bullion available from Missouri Coin Company; however, there are no options available in platinum or palladium. Investors who are looking for a wider selection of precious metals may take this into consideration.
The following items are included in their gold catalog by the company:
- American Gold Eagle ( 1 oz and ½ oz)
- Canadian Gold Maple Leaf
- American Gold Buffalo
- South African Krugerrand
- 1 Kg Gold Bar
Similarly, their silver catalog includes:
- American Silver Eagle
- Canadian Silver Maple Leaf
- 1 oz Silver Rounds
- Silver Bars (10 oz, 50 oz, ½ kg)
Although there is a good selection, there are not many options available. Other precious metals vendors offer product selections that are significantly more extensive and specialized.
Missouri Coin Company Fees and Pricing:
Missouri Coin does not disclose any costs associated with the IRA services it provides. The fees that you pay will be determined by the custodian that you select.
A Midland Individual Retirement Account (IRA) costs an annual fee of $325 per asset, a transaction fee of $50, and an account termination fee of $150 if the account is older than two years or $250 if it is not older than two years respectively.
With Entrust Group, on the other hand, you will be required to pay a one-time fee of $50 to open an account, as well as an annual fee of $199 or $299 if the entire worth of your assets is less than $50,000. Your entire asset value would be subject to an extra fee equal to 0.15% of the total value of your assets if the value of your assets is greater than $50,000.
Additionally, there is a $250 account termination fee in addition to the numerous transaction costs that vary based on the mode of payment that you select.
What Do Missouri Coin Company Reviews Say?
#1. When there was a previous owner, some of the reviews that are currently circulating were likely written. Throughout the past few years, I have made multiple visits to this shop, and each time I have been there, the pricing for buy and sell has been quite reasonable (even better than some of the other shops in town), and the proprietor has always been very accommodating and nice. My go-to store is located here.
#2. The following is an updated version of my initial review. I am not sure if MO Coin has changed their staffing if they are reading these evaluations, or what else, but I have observed a significant improvement in the quality of their service. There are the same product selections as before, and the prices are still reasonable. Today, it is a very pleasant place to visit. Hold on to the excellent work!
#3. I was also a customer of Crestwood Jewelry for over twenty years. While I was selling gold and silver, I am aware that Tom has, over the years, engaged in several instances of sleight of hand. Without ever weighing anything in front of his clients, he has never done so. Missouri Coin was brought to my attention by my daughter, who stated that the company was very trustworthy. You will always be paid in cash, and they will weigh everything in front of you. Whenever I have made a transaction with them, they have always provided me with a fair offer and top dollar. In every situation, they are polite. Five stars without a doubt.
Why aren’t There Many Missouri Coin Company Complaints?
Missouri Coin Company has a structured approach to resolving customer complaints, which underscores its commitment to maintaining high customer satisfaction and trust. When a complaint is received, the first step involves promptly acknowledging it, which reassures the customer that their concern is being taken seriously and will be addressed swiftly.
Following the acknowledgment, Missouri Coin Company conducts a thorough investigation into the complaint. This process is crucial as it involves reviewing the transaction details, communication exchanges, and any other relevant information to understand the specifics of the complaint fully. This thorough investigation helps ensure that the resolution offered is fair and satisfies all parties involved.
Once the investigation is complete, Missouri Coin Company proposes a resolution to the customer. This resolution could take various forms, such as refunds, exchanges, or other compensatory measures, depending on the nature of the complaint. They ensure that the solution not only aligns with the company’s policies but also addresses the customer’s concerns effectively.
Communication is key throughout the complaint resolution process. Missouri Coin Company makes it a priority to keep the communication clear and continuous, updating the customer about the status of their complaint and explaining the steps being taken to resolve it. This transparency is vital in maintaining trust and demonstrates the company’s dedication to customer service.
Finally, after implementing the resolution, Missouri Coin Company follows up with the customer to ensure that the issue has been resolved to their satisfaction. This follow-up is a crucial part of their process, as it helps confirm that the customer is happy with the outcome and that the solution has effectively addressed their concerns.
Through this methodical approach, Missouri Coin Company aims to turn potentially negative experiences into positive ones, reinforcing their commitment to excellent customer service and ensuring that all clients feel valued and respected. This resolution process not only helps maintain their reputation but also encourages customer loyalty and trust in their business practices.
Are There Any Missouri Coin Company Lawsuits?
Missouri Coin Company, based in Des Peres, Missouri, appears to operate without significant legal turmoil, as there are no widely reported lawsuits involving the company. This absence of legal disputes is noteworthy considering the company’s long-standing presence in the precious metals market since 1979. Such a clean legal track could suggest robust business practices and effective customer relations management.
The lack of public legal challenges might be attributed to several factors. First, Missouri Coin Company’s commitment to customer satisfaction could preempt many potential disputes. The company’s process for resolving customer complaints is designed to address and resolve issues before they escalate to legal action. This proactive approach in customer service likely plays a crucial role in maintaining their reputation and avoiding litigation.
Additionally, Missouri Coin Company’s transparent business operations and adherence to industry standards may further reduce the likelihood of legal issues. By ensuring that all transactions are clear and fair, and by providing thorough documentation and support throughout the buying, selling, and IRA setup processes, they minimize misunderstandings that could lead to disputes.
It’s also possible that their partnerships with established IRA custodians like Midland IRA and the Entrust Group provide an additional layer of security and professionalism to their operations, reinforcing their compliance with regulatory requirements and industry best practices.
In the absence of major legal confrontations, customers and potential investors might view Missouri Coin Company as a reliable and trustworthy option for purchasing precious metals and setting up gold IRA accounts.
However, as with any investment, customers should conduct their due diligence and consult with financial advisors to ensure that their investment choices align with their financial goals and risk tolerance.
Can You Trust Missouri Coin Company? Is Missouri Coin Company Legit?
Yes,
They are reputable gold dealers with vast experience.
Before working with a precious metals company, do your research.
Here are some tips to ensure a gold IRA company’s legality:
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.
Missouri Coin Company Review Summary:
Missouri Coin Company, nestled in Des Peres, Missouri, has been a prominent figure in the precious metals market since its establishment in 1979. Renowned for its extensive selection of gold and silver bullion, the company also offers IRA services through partnerships with Midland IRA and the Entrust Group, catering to diverse investment needs. Their commitment to providing a secure and knowledgeable trading environment has solidified their reputation in the industry.
Operating out of a conveniently located office on Manchester Rd, Missouri Coin Company is accessible Tuesday through Saturday, offering flexibility for personal visits. Their deep-rooted experience is reflected in the longstanding relationships with IRA custodians, ensuring that clients looking for retirement solutions find reliable support.
The company is steered by Dennis McCormick as President and Matt McCormick as Vice President, under whose leadership Missouri Coin Company emphasizes transparency and client education a commitment evident in their offering of extensive numismatic expertise that spans over a century collectively among their staff.
For those interested in IRA services, the company simplifies the process. Clients start by choosing a custodian Midland IRA or the Entrust Group and then fund their accounts either by rolling over existing IRAs or through direct contributions. Once set up, clients can explore Missouri Coin Company’s array of IRA-eligible precious metals, making it a seamless journey toward securing precious metal investments for retirement.
Furthermore, Missouri Coin Company stands out with its no-fee policy on initial IRA setups and appealing features like locked-in spot pricing and comprehensive appraisal services for large collections. Their approach to pricing is straightforward and competitive, reflecting market values without hidden charges, and fostering a trustworthy relationship with clients.
The staff’s readiness to provide evaluations and personalized service, whether in-store or remotely, underscores their dedication to customer satisfaction. This customer-centric approach is likely why there are minimal complaints and no significant legal disputes reported, suggesting a commitment to resolving issues promptly and effectively.
In essence, Missouri Coin Company not only offers a robust selection of precious metals and IRA services but also delivers a customer experience grounded in expertise and integrity, making it a reliable partner for both seasoned investors and those new to precious metals.
