Gainesville Coins Review
… How Do Gainesville Coins Compare With Other Gold IRA Companies?
Gainesville Coins ‘At a Glance’ analysis followed by in depth report:
Gainesville Coins Analysis |  |
|---|---|
| Website | www.gainesvillecoins.com |
| Phone No. | 1-813-482-9300 |
| PERFORMANCE:* | |
| BBB (Better Business Bureau) Rating (Scale of A+ to F) | A+ |
| BBB Complaints | 8 |
| BCA (Business Consumer Alliance) Rating (Scale of AAA+ to F) | N/A |
| BCA Complaints | N/A |
| Trustlink Rating | N/A |
| RETIREMENT FUNDS: | |
| Gold IRAs Offered (US) |  |
| Crypto IRAs Offered (US) |  |
| Gold RRSPs Offered (Canada) | |
| GENERAL: | |
| Preferred Depository | Gainesville Storage |
| Preferred Custodian | New Direction IRA, The Entrust Group, Goldstar Trust Company |
| Minimum IRA Purchase Amount | Not divulged |
| Physical IRA Application | |
| Digital IRA Application | |
| FEES: | |
| Set Up | $25+ |
| Admin (annually) | $60+ |
| Storage (annually) | $100+ |
| TIMESCALES: | |
| IRA Transfer Process | Not known |
| 401k Rollover Process | Not known |
| Delivery of Metals | Not divulged |
| PEACE OF MIND | |
| US Mint Listed Dealer | |
| ICTA Member | |
| TRUSTe Verified | |
| Norton Secured | |
| Special Offers | None |
Background
Gainesville Coins has been in business since January 2000 and they are based in Lutz, Florida. The fact that three of the main contact people within the company share the same name (Yaffe) suggests that this is predominantly a family run business.
Gainesville claim that because of their large inventory they are able to offer wholesale prices which are more competitive than those of smaller dealers. They offer tiered pricing on many of their products which means that you can benefit from discounts if you purchase larger amounts. They have no minimum order requirements when you are either buying from them or selling to them.
The company are members of the Industry Council for Tangible Assets (ICTA), the American Numismatic Association (ANA), Coin Net and the Certified Coin Exchange (CCE). In addition they are authorized dealers for the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC).
Gainesville Coins is an authorized distributor for many major government mints across the world. These include the U.S Mint, Royal Mint (UK), the Perth Mint (Australia), Royal Australian Mint, New Zealand Mint and Monnaie de Paris (France).
The company prides itself on its high levels of customer service and the fact that as its representatives are not on commissions they all follow a sales policy of ‘zero pressure’.
They offer their own storage option to their customers: ‘Gainesville Coins storage’. For this they charge annual scaled fees. These can work out quite costly when compared with the flat fees which are offered by some of their competitors. Here’s why.
Gainesville Coins’ Website
You can purchase online 24/7 via Gainesville’s website, which is very much an online shop. All prices and payment methods are shown against each item. This dominates the home page. New products are added to the website on an ongoing basis and these can be viewed by clicking on the ‘New Arrivals’ link which is also on the home page.
To offer their customers maximum security when purchasing their products online their website is verified by Network Solutions and daily checks are made by McAfee Secure and Norton Secured Malware Prevention. The site uses SSL 128-bit encryption.
One very useful feature on the website is the Learning Center. This provides a wealth of information about investing in gold and other precious metals.
The Precious Metals IRA page provides information about getting started, self directed IRAs, custodians’ fees and a comprehensive Frequently Asked Questions section.
Products
The main products offered by Gainesville Coins are gold, silver, platinum, palladium and copper. The size of their inventory for all of these is impressive.
Of these products the three main types offered are bullion, numismatics and modern collectible items.
Reputation and Ratings
Gainesville Coins Better Business Bureau
Gainesville Coins have been accredited with the BBB since November 2006 and they have been awarded an A+ rating which on a scale ranging from A+ to F is the highest achievable.
At the time of our most recent check there had been 8 complaints closed with the BBB in the previous 3 years and 5 closed in the previous 12 months. BBB categorize these complaints as either Product/Service issues or Delivery issues. 11 customer reviews were showing, giving an average of 2.2 out of 5 stars. Disclaimer: We are merely reporting here our findings on the BBB website and we have no way of verifying the accuracy of this information.
The BBB mention that they are not aware of any government actions surrounding Gainesville Coins, nor do they have anything to report regarding Gainesville’s advertising practices.
The only other information of note provided by the BBB is that the company’s business started in January 2000 and it was incorporated in July 2006 in Florida.
Gainesville Coins Business Consumer Alliance
The company is not rated at the BCA
Gainesville Coins Trustlink
The company is not rated at Trustlink
Gainesville Coins Yelp
At the time of our most recent check Gainesville had a 3 out of 5 stars rating at Yelp, based on 17 reviews. These reviews were varied and customer ratings ranged from the minimum 1 out of 5 to the maximum 5 out of 5. Disclaimer: We are merely reporting our findings on the Yelp website and we have no means of checking the accuracy of the information shown there.
Gainesville Coins National Inflation Association
Gainesville Coins has a 5-star rating at the NIA, which is the highest achieved by any precious metals dealers and in 2010 the NIA gave Gainesville their Best Bullion Award.
Gainesville Coins Company Video
Summary
Gainesville Coins is a serious player in the precious metals industry and has a good reputation. They have a large inventory to choose from and a good online shop.
They are members of or connected to several precious metals related authoritative bodies and they clearly put an emphasis on offering good customer service and on maintaining their reputation and profile.
Particularly with regards to precious metals IRAs we would prefer it if they offered flat as opposed to scaled storage fees because their comparatively higher storage costs could potentially offset their competitive prices.
Reviewed by: Doug Young
