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Savvy investors understand the importance of diversification. Well-diversified investment portfolios hedge against risk during the market and economic turbulence. One good diversification strategy is to invest in precious metals, including gold, palladium, and silver.
As compared to stocks and bonds, precious metals hold intrinsic value and protect against inflation. Precious metals can also be held in self-directed IRAs, including self-directed traditional, Roth, and SEP IRAs.
American Rare Coin and Collectibles is an established dealer with more than two decades of experience. This company has good reviews and ratings and offers gold, platinum, silver, and palladium bullion, circulated and uncirculated U.S. coins, foreign coins, and collectibles.
Here's some information about American Rare Coin and Collectibles to help investors evaluate this potential precious metals source.
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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.
Read the list to see if American Rare Coins and Collectibles passed our strict customer service standards to become one of our top recommendations.
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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.
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.
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:
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.
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:
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:
The following products at American Rare Coin and Collectibles are approved for IRAs.
Gold qualifying products:
Silver qualifying products:
Platinum qualifying products:
Palladium qualifying products:
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:
Because of special shipping and packaging requirements, American Rare Coin charges $69 shipping and handling for American Silver Eagle monster boxes.
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.
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