Modern Coin Mart Reviews & Complaints: Scam or Reputable?

Modern Coin Mart
Google: N/a
BBB: 3/5 A-
Trustpilot: 3.1/5

Modern Coin Mart, a numismatic company located in Sarasota, Florida, specializes in precious metals. This company offers a variety of coins for collectors and retirement savers. While they have an extensive catalog, they have not partnered with any self-directed IRA custodian and do not offer storage options. Modern Coin Mart has an average rating of 3/5 on Focus on the User.

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Featured Reviews

Top Review

Featured
Thomas L
5 stars
USA

"This is my first purchase with MCM and everything went smoothly. I actually received my coin before I expected it. I'll definitely do business with them in the..."

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Top Complaint

Featured
Robert C
1 star
USA

""Purchased two MS 70 Silver Eagles. One was the 2014 (S) and the other coin was the 2020 (W). The 2020 (W) was fine but the 2014 (S) was caked with haze. Not sure why they would..."

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What is Modern Coin Mart?

Modern Coin Mart, established in 2004, operates as a precious metals dealer offering an extensive range of gold, silver, platinum, and palladium products. These products cater to both individuals looking to hold IRA-eligible bullion in their existing Precious Metals IRAs and numismatic collectors. The company's inventory includes a wide array of collectible and ancient coins, as well as popular choices like the Gold American Eagle, Gold American Buffalo, Silver Canadian Maple Leaf, Silver American Eagle, Platinum American Eagle, and Palladium American Eagle. Their offerings encompass a diverse range of platinum-group metal coins, various gold and silver alloys, appealing to a broad spectrum of collectors and investors.

Modern Coin Mart Ratings

Modern Coin Mart Reputation

Focus on the User Review
Focus on the User
3/5 stars
13 reviews (Aggregated)
Google Reviews
Google Reviews
N/a stars
N/a reviews
BBB Reviews
BBB
3/5 stars A-
4 reviews
Trustpilot Reviews
Trustpilot
3.1/5 stars
9 reviews

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Modern Coin Mart Reviews

Top Modern Coin Mart Reviews

5 starsFeatured

"This is my first purchase with MCM and everything went smoothly. I actually received my coin before I expected it. I'll definitely do business with them in the future."

Thomas L
USA
5 stars
5 starsFeatured

"I have been ordering from MCM for a number of years now and have never had an unpleasant experience. Shipping is free, prices are some of the most competitive around, and customer service is top notch. I will continue to place my trust in John and the rest of the MCM crew for my bullion needs now and in the future."

duriel48
USA
5 stars
5 starsFeatured

"My go to spot for all my bullion and numismatic items.Since the day I found MCM, it is always the first place I look. Here is a first class dealer with price match and always free shipping.No brainer.Service after the sale is top notch!If you have a problem, they have a problem.MCM will go to any length necessary to make the customer happy.I know this.I have experienced the great work these folks do to make a customer a return customer. I urge anyone to check out MCM and compare.It is an easy choice :)"

Warren M
USA
5 stars
Modern Coin Mart Complaints

Worst Modern Coin Mart Complaints

1 starFeatured

"Purchased two MS 70 Silver Eagles. One was the 2014 (S) and the other coin was the 2020 (W). The 2020 (W) was fine but the 2014 (S) was caked with haze. Not sure why they would send the coin out like that. I called customer service to ask for a refund. They told me they would send an envelope with an address so I could ship the coin back to them. After a week, I never received it. Called customer service again. The woman I spoke to said according to her records the return envelope was still in transit and said she would send another one. That was 3 weeks ago and I still haven't received the envelope they promised. Won't be ordering from them again."

Robert C
USA
1 star
1 starFeatured

"I placed an order on May 20th.It was June 1st and still haven't heard anything, so I called. They said it would ship that evening. It's June 3rd still no e-mail or any response from this company. So I call later in the day, they tell me the order will ship this evening.I told MCM employee that they had told me that a few days ago. Shortly after that like an hour later I received an email asking how do I like my purchase?"

Lee R
USA
1 star
1 starFeatured

"Terrible service, can only buy online. Can not buy from store itself, have to buy online and have it shipped to you. And even if you buy online, hopefully no one takes your package when delivered otherwise your S.O.L. they do not insure items that were delivered and signed for, even though it was not you that signed for it. Can not look and hold before you buy. Yiu can only buy it first then you can hold it. Good luck returning anything, I will never buy precious metals before I can hold it and see it first. I see why they do it that way, It's A Scam!! How can you get your money back if you never got the item and it was signed by someone else?!? You luck proving any of that. Never Again!! Let people come in and see exactly what they are buying. If not, that just proves you are Scammers!!"

Douglas S
USA
1 star

Is Modern Coin Mart a Scam?

Modern Coin Mart is not a scam. It is a legitimate precious metals dealer with a history dating back to 2004. The company's average rating of 3/5 on Focus on the User further supports its legitimacy as a business entity in the numismatic industry.

Modern Coin Mart Pros and Cons

Pros

  • Diverse Inventory: Offers a wide range of collectible and IRA-eligible coins.
  • Established History: Founded in 2004, demonstrating longevity in the industry.

Cons

  • No IRA Custodian Partnerships: Lacks partnerships with self-directed IRA custodians.
  • Limited Services: Does not offer storage options for the precious metals.

Modern Coin Mart Services and Products

Modern Coin Mart provides an array of services and products focusing on precious metals and numismatics. Their catalog includes:

  • Gold, silver, platinum, and palladium products.
  • Collectible and ancient coins.
  • IRA-eligible products for retirement savers.
  • A buyback program with conditions based on market demands and inventory needs.

Each of these products is carefully sourced and made available to both the public and dealers, emphasizing quality and variety.

Modern Coin Mart FAQ

Is Modern Coin Mart a reputable company?

Yes, it is a reputable company with a significant presence in the precious metals market since 2004.

How long has Modern Coin Mart been in business?

Modern Coin Mart was founded in 2004.

Before Investing With Modern Coin Mart

Consider obtaining for informed decision-making in precious metal investments. This guide can provide valuable insights and help potential investors navigate the complexities of investing in precious metals.

Modern Coin Mart Homepage

Contact Modern Coin Mart

  • Address: 5260 Paylor Ln, Lakewood Ranch, FL 34240-2204
  • Phone: 1 941-907-8050
  • Founded: 2004
  • Alternative Name: MCM
  • Business Contacts:
    • Kurt R. Rasmussen, Manager
    • Charles B. Lannin, Manager
    • William J. Gale, President/CEO
  • Category: Numismatic Company
Social MediaBusiness Hours
  • Saturday - Closed
  • Sunday - Closed
  • Monday - 8a.m.–5p.m.
  • Tuesday - 8a.m.–5p.m.
  • Wednesday - 8a.m.–5p.m.
  • Thursday - 8a.m.–5p.m.
  • Friday - 8a.m.–5p.m.
Modern Coin Mart Address

Modern Coin Mart Alternatives

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American Rarities Review

American Rarities | 3/5 Rating

American Rarities is known for its expertise in rare coins and bullion, providing free evaluations and personalized service for collectors looking to buy, sell, or appraise their collections.
Bunker Hill Rare Coin Review

Bunker Hill Rare Coin | 3/5 Rating

Bunker Hill Rare Coin focuses on high-quality rare coins and offers personalized services, including appraisals, acquisitions, and sales to serious collectors and investors.
Liberty Coin Review

Liberty Coin | 3/5 Rating

Liberty Coin offers a wide selection of coins, precious metals, and collectibles, catering to both novice and experienced collectors with a focus on customer education and satisfaction.
Govmint.com Review

Govmint.com | 3/5 Rating

Govmint.com is a prominent online retailer of coins and collectibles, specializing in government-issued coins from around the world, including modern and historical pieces.
NGC Review

Numismatic Guaranty Corporation (NGC) | 1.9/5 Rating

Numismatic Guaranty Corporation (NGC) is a leading third-party grading service for coins, tokens, and medals, offering grading, conservation, and encapsulation services to enhance and certify their value and authenticity.
PCGS Review

Professional Coin Grading Service (PCGS) | 1.2/5 Rating

Professional Coin Grading Service (PCGS) is a highly respected coin grading company, known for its standard-setting grading services and encapsulation techniques that help preserve and authenticate coins.
ANACS Review

ANACS (American Numismatic Association Certification Service) | 1/5 Rating

ANACS (American Numismatic Association Certification Service), as the oldest coin authentication and grading service in the U.S., offers expert grading and authentication services to collectors and dealers.


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