Coin Exchange NY Review

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Coin Exchange NY has been a trusted precious metals dealer for years.

They have an experienced and knowledgeable staff that helps interested buyers or investors with any coin-related queries they may have.

With a wide selection of rare coins, bullion, and collectible coins, Coin Exchange NY has something for everyone.

Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?

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 Coin Exchange NY passed our strict customer service standards to become one of our top recommendations.

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About Coin Exchange NY

The Coin Exchange (CE) is a company in Hartsdale, NY, that has gone on to lead the field in bullion, numismatics, currencies, jewelry, and watches. Since its establishment in 2011, the company has been driven by an ambition to provide customers with exceptional products and services, along with a commitment to excellence.

Coin Exchange NY - Logo

The staff at the Coin Exchange have over three decades of expertise in their respective fields and are always ready to provide professional consultation, advice, and information in a personalized manner. They understand that each customer's needs are unique and strive to give them the best experience possible while shopping for coins or precious metals.

Coin Exchange NY - website

The Products

As mentioned, CE's inventory is very diverse, and its website is well-organized to help clients easily get what they want. When clients click on any precious metals tab, they get choices such as pre-1933 coins (Indian Head, Liberty Head, St. Gaudens, etc.), products from different countries, weights, and price ranges. 

They also have jewelry from reputable designers such as David Yurman, Tiffany, Cartier, and more. Some notable pieces include Antique Chinese Silver Carved Jade Quartz Seed Pearl Choker Necklace, Vintage Lagos Caviar 18k Gold Silver Studded Omega Back Shrimp Earrings, Philippe Charriol 18k White Gold Steel Diamond Cable Bracelet, and Vintage Navajo Charlene Yazzle 925 Sterling Silver Coral Turquoise Belt Buckle.

Moreover, CE sells pre-owned watches (vintage, luxury, designer, and pocket timepieces for men and women). If you are a collector, you can find a watch made in 1900 or an Omega from the 1950s.

Lastly, Coin Exchange NY sells numismatic products from Mexico, Canada, Australia, the United States, and other countries around the world. These products include coins, paper money, medals, and more.

Services Offered

Coin Exchange NY - Services Offered

1) Buying and Selling

The Coin Exchange not only sells coins, bullion, collectibles, jewelry, and watches; they also buy these items from customers. Whether you are looking to sell a single coin or your entire collection, they can help you find the best possible price for your valuables.

2) Certified Appraisals

CE is a member of the Appraisers Association of America (AAA). They provide evaluations for coins, paper money, and medals. They also appraise real estate, insurance, donations, and anything else that must comply with USPAP standards and IRS regulations.

3) Expert Witness

If anyone needs an expert opinion in a courtroom, the Coin Exchange can be called upon to testify. They are qualified and experienced to speak on coin matters and provide legal opinions in New York.

4) Education

CE has a blog that is regularly updated with information and tips for coin collectors, investors, and anyone interested in the numismatic market. Their representatives are also available for advice or any questions that a customer may have.

5) Grading and Authentication

CE offers a third-party grading and authentication service to help clients determine the quality and value of coins. They are authorized dealers for PCGS, PCGS Currency, NGC, NCS, CAC, and PMG.

6) Numismatic Consulting

For those considering buying, selling, or consigning coins or paper money, the experts at Coin Exchange NY can help. They offer consultation services to private individuals, dealers, and governmental institutions.

How to Buy From the Coin Exchange NY

There are two ways to do business with CE: online and in-store. For online orders, customers can browse the website and select from a wide range of products. The next step is clicking "Add to Cart" and then proceeding to checkout.

Customers can pay online via PayPal, Wire Transfer, or check. The minimum order amount for wire transfer and paper check is $3,000. PayPal orders don't have a set minimum, but the maximum amount a client can purchase is $10,000.

Customers will also need to fill up a contact form before payment is processed. If everything clears up, CE will deliver the products to their doorstep.

For in-store purchases, customers can call or email the store to set up an appointment and then visit during regular business hours. They can get a firsthand look at the coins or jewelry they are interested in. Customers should remember to bring proper identification when visiting the store.

Order Cancellations

Based on the Terms and Conditions of Coin Exchange, orders paid through check or wire transfers that are not dated within five business days will be canceled. The company also has a right to wait and hold for all cashier's checks, certified checks, personal checks, and money orders to clear out about ten business days before product shipping.

Returns Policy

Coin Exchange NY orders are final. The company does not accept returns, refunds, or exchanges due to the unique nature of its merchandise. However, clients can call the store and discuss with their representatives if they have any issues with what they received.

Shipping

CE normally ships via the U.S. Postal System. Their orders are fully insured against loss or damage. The shipping rates vary based on the weight of the order, destination, and delivery method. They also offer international shipping for certain countries.

Why Do People Buy Precious Metals and Rare Coins?

Gold, silver, platinum, and palladium have become popular investments; in fact, they are now tradable on some of the world's largest exchanges. Investors often buy precious metals because:

1) They Hedge Against Inflation

Precious metals maintain their purchasing power better and can even increase in value over time, as evidenced by history. Even central banks and governments all over the world have increased their holdings of gold and other precious metals to curb the devaluation of their currencies.

2) They Offer Diversification

People often buy precious metals as a way to diversify their portfolios which protects against losses should any particular asset class experience a downturn. This hedging strategy has been proven successful over many decades of market cycles, with gold outperforming other asset classes when market conditions are unfavorable.

3) They Are Universal

Gold and silver are accepted worldwide, so you can buy or sell them in any market. This eliminates the need to convert currencies when making a transaction.

4) They Will Always Be Valuable

Precious metals are rare, yet their demand, particularly in the industrial sector, will always be there. For example, gold is used in medical and electronic industries, while silver is used for its conductive properties. And with the rise in the green movement, palladium, and platinum are becoming more valuable since they are used to make electric cars.

Rare coins, on the other hand, are highly sought after due to their historical and collectible value. Coins from certain eras can be worth far more than their face value due to scarcity or rarity. They also make great gifts to commemorate special events, such as anniversaries or graduations.

Investing in Jewelry and Watches

Just like painting, fine watches and jewelry are also considered art. They hold their value because of the precious materials used to make them, their unique designs, and the stories they tell. The best part is that these are investments that you wear and use daily and will still sell for the same price or higher when you decide to part with them.

Considerations When Investing in Precious Metals, Rare Coins, Jewelry and Watches

1) Taxes

When purchasing an expensive piece like an 18k gold necklace, the IRS might consider it an investment and, therefore, subject to capital gains taxes when you eventually sell it at a higher price. This can range from zero to 28% of the profits made. It's also important to note that you may not be able to claim a capital loss if you used the item for more than one year.

2) Storage

Whether you're investing in gold, silver coins, jewelry, or watches, secure storage is very important. Not only do these items need to be safeguarded against theft, but they can also lose their value if damaged or exposed to harsh elements like humidity and temperature changes.

3) Authenticity and Grading

Before buying any numismatic item, make sure you get the proper appraisal and certification from a trusted source like Coin Exchange NY. This guarantees that you're getting the real deal, not counterfeit or altered coins.

Gold IRAs

 The IRS allows investors to back up their retirement accounts using pure precious metals while still maintaining the tax benefits and advantages that come with traditional IRAs. Most dealers help their clients set up these types of accounts and even manage them on their behalf. Unfortunately, Coin Exchange NY doesn't offer this service. If their clients want a gold IRA, they must look out to other providers like Goldco, Augusta Precious Metals, Birch Gold Group, etc.

Our Rating

Pros & Cons

  • Pros

Coin Exchange NY is a certified member of the Precious Metals Associations, meaning that their products are of the highest quality, and they abide by all rules set forth by these organizations. Their reputation even allows them to offer expert witness services in a court of law.

They have a wide selection of products and services. Whatever a client needs, they can find it at CE. They have coins from all eras, gold and silver bars, jewelry pieces, watches, supplies, etc.

  • Cons

The Better Business Bureau hasn't accredited them. This means that they are not subject to the BBB's standards for customer service and dispute resolution.

They have minimum required order amounts. This might be a problem for those with a limited budget.

Their Terms and Policies are strict and inflexible. They have no returns, refunds, or exchanges, so clients need to be sure of what they're getting before placing an order.

Conclusion

Overall, Coin Exchange NY is an excellent option for anyone looking to diversify their portfolios or find unique gifts. They offer competitive prices on their merchandise backed by excellent customer service. Unfortunately, the company doesn't provide gold IRAs, but customers can look outside for this service.

Remember to read out list of the Top Gold Companies to see if Coin Exchange NY made the cut.

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

Or, if you like what you read about Coin Exchange NY, you can visit their website below.

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