American Rare Coin and Collectibles Review

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Astute investors understand the importance of diversification in protecting their portfolios against market volatility and economic uncertainty. One effective strategy is to invest in precious metals like gold, palladium, and silver.

Unlike stocks and bonds, precious metals hold intrinsic value and act as a hedge against inflation. These assets can also be incorporated into self-directed IRAs, including traditional, Roth, and SEP IRAs.

American Rare Coin and Collectibles, a trusted dealer with over 20 years of experience, has earned positive reviews and high ratings.

The company offers a broad range of products, including gold, platinum, silver, and palladium bullion, as well as circulated and uncirculated U.S. coins, foreign coins, and collectibles.

To assist investors in evaluating this potential source of precious metals, we provide detailed information about American Rare Coin and Collectibles.

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That is why we have researched every company in the industry and selected the very few with the highest customer service standards.

This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.

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What Is American Rare Coin and Collectibles?

American Rare Coin and Collectibles is a precious metals and collectibles dealer located in Bloomington, Minnesota. This company buys and sells gold, silver, platinum, and palladium coins and bars as well as other collectibles, including rare sports cards and more.

American Rare Coins and Collectibles - Logo

Investors can buy precious metals and have them shipped directly to their homes or a depository. They can also open a self-directed IRA to hold their precious metals as a part of their overall portfolios.

American Rare Coins and Collectibles - Webstite

About American Rare Coin and Collectibles

American Rare Coin and Collectibles was founded in 1989 and has operated at the same location for more than 25 years. The company boasts more than 200 years of combined experience in numismatics among its professional staff. Investors can buy products from a broad selection offered by the company. American Rare Coin also actively purchases the following items:

  • Coins certified by the Professional Numismatics Guild (PNG) or the Professional Coin Grading Service (PCGS)
  • Silver dollars
  • 90% silver coins from 1964 and earlier (dimes, half-dollars, and quarters)
  • 40% silver coins
  • U.S. Mint and proof sets
  • Uncertified rare coin collections
  • Rare currency
  • Bullion (gold, silver, platinum, and palladium)
  • Sterling silver
  • Gold jewelry
  • Working/non-working watches
  • Diamonds
  • Rare/important sports cards

The company is a member of numerous major numismatic organizations and promises honest, upfront pricing and fast delivery.

American Rare Coin and Collectibles: Ratings and Complaints

American Rare Coin and Collectibles has mostly positive reviews on a variety of sites and has a Better Business Bureau (BBB) rating of A+. It has been BBB-accredited since March 2022. The company has a 4.7/5.0 rating on Angi and a 4.3/5.0 rating on Google.

The vast majority of online reviews are 5.0. The few negative ratings are primarily from sellers unhappy with the offers they received for their coins or collections or from people who felt the staff they interacted with was rude. However, most reviewers reported positive experiences.

Does American Rare Coin and Collectibles Offer IRAs?

American Rare Coin and Collectibles do offer an IRA program. Through this program, investors can open a self-directed IRA to hold the precious metals they purchase as long-term investments. Buyers can open self-directed traditional IRAs, self-directed Roth IRAs, or self-directed SEP IRAs by applying through the company's website.

The company does not hold the IRAs itself but instead partners with an IRA custodian to provide this service. To open an IRA through American Rare Coin and Collectibles, the company requires a minimum $1,000 purchase.

All IRAs (traditional, Roth, SEP, Simple, and Solo) also can be directly rolled over into a precious metals IRA opened through American Rare Coin. Similarly, investors can roll over 401(k) accounts from former employers into their self-directed precious metals IRAs.

American Rare Coin and Collectibles IRA Custodian and Storage

The company recommends investors choose Gold Star Trust as their IRA custodian but states that it will work with any self-directed IRA custodian to establish a precious metals IRA.

When investors purchase precious metals from American Rare Coin to fund their self-directed IRAs, the company states the metals will be sent to an NYMEX/COMEX depository and physically segregated for the investor's IRA account.

It does not list any specific depositories it works with or provide depository recommendations to investors on its website.

American Rare Coins and Collectibles - IRA Custodian

Precious Metals IRA Sign-Up Process at American Rare Coin and Collectibles

The sign-up process for a self-directed gold or precious metals IRA through American Rare Coin is straightforward. Investors can complete the process online or call American Rare Coin and Collectibles to get help from an IRA specialist at 952-830-1400/800-927-7273. Investors can take the following steps to open a self-directed IRA through American Rare Coin and Collectibles:

1. Contact American Rare Coin

Investors can fill out the online form or call the company's number to get started with opening a self-directed IRA. If investors fill out the form, the company's representatives will contact them to walk them through the rest of the process.

2. Choose an IRA Custodian and Open an Account

Investors will need to choose a custodian for their self-directed IRA account and follow their instructions for opening an account. American Rare Coin recommends Gold Star Trust to investors, but they can choose any custodian approved by the Internal Revenue Service (IRS).

American Rare Coin states it has partnered with Gold Star Trust for years and recommends the company based on its customer service and low fee structure. However, it's a good idea for investors to compare the fees of several custodians before making a decision.

3. Fund the Account

Once an investor has opened a custodial account, they will need to fund it. To open an account through American Rare Coin and Collectibles, investors will need to make a minimum purchase of $1,000. They can also choose to roll over the account balances of other IRAs or 401(k)s they currently hold if desired.

To roll over an account balance, an investor will need to initiate the process by contacting the administrator of their current account to start the rollover process. Rolling an IRA or 401(k) over can be done without taxation or early withdrawal penalties as long as it is completed correctly.

Products purchased from American Rare Coin and Collectibles must meet IRS standards to qualify for an IRA. Fortunately, American Rare Coin offers a variety of qualifying products as detailed below. Investors can't hold collectible coins with numismatic value in self-directed precious metals IRAs.

4. Delivery and Storage

Once the IRA account is set up, the investor's precious metals will be shipped and safely stored at the approved depository. The precious metals will be segregated into a separate account and fully insured.

Products Offered by American Rare Coin and Collectibles

American Rare Coin and Collectibles offer a broad selection of rare coins and collectibles that investors can buy. However, not all products are IRA-qualified. Investors should check to ensure any products they want to include in a self-directed IRA meet the IRS fineness standards as detailed below.

The company offers the following products:

  • Bullion (gold, silver, platinum, and palladium)
  • Circulated and uncirculated U.S. gold coins (uncirculated gold coins are PCGS or NGC certified)
  • Foreign gold coins
  • U.S. silver dollars
American Rare Coin and Collectibles - Products Offered

The company also offers in-stock specials that investors can review on its website. While American Rare Coin and Collectibles sometimes offer featured specials, none are currently listed. Pricing information for individual products is directly listed on the company's website.

Precious Metals IRA-Approved Products at American Rare Coin and Collectibles

The IRS sets purity standards for precious metals to be included in self-directed precious metals IRAs. To qualify, precious metals must meet the following purity standards:

  • Gold - Fineness of 0.995
  • Silver - Fineness of 0.999
  • Platinum - Fineness of 0.9995
  • Palladium - Fineness of 0.9995

The following products at American Rare Coin and Collectibles are approved for IRAs.

Gold qualifying products:

  • U.S. Gold Eagle
  • U.S. Gold Eagle proof
  • U.S. Gold Buffalo
  • Canadian Gold Maple Leaf
  • Austrian Gold Philharmonic
  • Multiple gold bars and rounds

Silver qualifying products:

  • U.S. Silver Eagle
  • U.S. Silver Eagle proof
  • Canadian Silver Maple Leaf
  • Austrian Silver Philharmonic
  • Multiple silver bars and rounds

Platinum qualifying products:

  • U.S. Platinum Eagle
  • U.S. Platinum Eagle proof
  • Canadian Platinum Maple Leaf
  • Multiple platinum bars and rounds

Palladium qualifying products:

  • Canadian Palladium Maple Leaf
  • Canadian Palladium Maple Leaf

Payment Methods and Shipping Information

American Rare Coin accepts payment by wire transfer, certified cashier's checks, money orders, personal checks, cashier's checks, and credit cards. Cash transactions can be made for in-person purchases. However, for those with delayed shipments, a 25% downpayment will be required.

Investors who purchase products to fund their IRAs will have their products shipped directly to a depository. Those that want to purchase and store precious metals themselves can have them shipped through the U.S. Postal Service with insured shipping.

Products are shipped in discrete packaging and can take from one to 10 business days to arrive. The following shipping methods are available at different product values:

  • $0 to $500 - First class mail with no signature required and full value insurance - $10 shipping cost
  • $501 to $1,000 - Priority mail with no signature required and full value insurance - $15 shipping cost
  • $1,001 to $25,000 - Priority mail with signature required and full value insurance - $25 shipping cost
  • $25,001 + - Priority registered mail with restricted signature required and full value insurance - free shipping

Because of special shipping and packaging requirements, American Rare Coin charges $69 shipping and handling for American Silver Eagle monster boxes.

Final Thoughts

American Rare Coin and Collectibles is an established precious metals dealer with a solid reputation and extensive experience. Its transparent pricing information is positive, but its lack of information about depositories might be a drawback for some investors.

In general, American Rare Coin and Collectibles might be a good option for investors wanting to buy gold, silver, platinum, or palladium products. However, it is a good idea for investors to compare this company with others before making a decision.

Remember to read out list of the Top Gold Companies to see if American Rare Coins and Collectibles made the cut.

>> Click HERE to read our Best Precious Metals Investment Companies list <<

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