Gainesville Coins Review – Is It A Legit Company Or A Scam?

Welcome to my Gainesville Coins review.

What is Gainesville Coins? Is this company legit? Do they offer IRAs? What kind of precious metals do they offer? These are the questions that you had in mind.

So let’s find out!

In this review, we will take an in-depth review of Gainesville Coins and see if this company worth looking at or it is just a waste of time and money.

This review will answer all your questions about the Gainesville Coins and understand more about this company and see if it is a scam or not.

Here is the structure in this review:

  • What is Gainesville Coins?
  • How Does Gainesville Coins Work?
  • Gainesville Coins Services
  • Gainesville Coins Review and Ratings
  • Is Gainesville Coins a scam?
  • Final Thoughts

What Is Gainesville Coins?

Gainesville Coins is a company owned by Michael Yaffe, and the company entered the precious metals industry in 2000.

The company authorized full-service of precious metals dealer, and they are based in Lutz, Florida. 

They also offer excellent services and products.

Not just that the company is also a member of several authoritative bodies in the industry.

Such as:

  • Industry Council for Tangible Assets
  • The American Numismatic Association 
  • Coin Net and the Certified Coin Exchange 

Gainesville Coins is also an authorized dealer for both the Numismatic Guaranty Corporation and the Professional Coin Grading Service.

They are also an authorized distributor on several central government mints in the world. 

  • Monnaie de Paris (France)
  • New Zealand Mint
  • U.S. Mint
  • Royal Mint (U.K.)
  • Royal Australian Mint
  • The Perth Mint (Australia)

Below are awards that Gainesville Coins have received over the years:

Gainesville Coins awards

How Does Gainesville Coins Work?

If you plan to buy and sell or do business with Gainesville Coins, there are two ways that you can do it.

You can either go to their website or visit their showroom in Lutz, Florida. The website is an online marketplace where you can place your orders online and have your products delivered.

You can also contact them by phone.

Gainesville Coins Products

Gainesville Coins claims to have a wide variety of products from gold, silver coins, and bars, and not just they also offer other metals such as platinum, palladium, and copper, making them a great wholesaler with competitive prices than other dealers. 

The company main types of products that they offer are numismatics, bullion, and collectible items.

They also have tiered pricing on most of their products.

This means that clients can get discounts if ever they purchase large amounts of product.

The prices of each precious metal from Gainesville Coins are greatly different.

You can check them out on their website.

They have a well-established catalog that shows all of the products available for purchase.

Gainesville Coins Services

Precious Metals IRA

Gainesville Coins steps

Having an IRA account is very helpful if you plan to protect your retirement funds. 

Gainesville Coins offers a precious metals IRA service through its partner custodians, Goldstar Sun Company and Advanta IRA.

Can You Sell Precious Metals With Gainesville Coins?

Yes, you can sell your gold, silver, platinum, or palladium to them.

Here are the details on how to do it:

Gainesville Coins how to sell

Do Gainesville Coins Offer Storage?

Yes, Gainesville Coins provide storage for you to secure and protect your precious metals.

The company offers its clients different storage options to help them keep their precious metals safe.

You can check the storage options they offer on their website.

Gainesville Coins also provided information about storage fees. 

I also found out that they have sliding scale fees. However, this is not recommended for buyers. 

As you can see, more people will purchase precious metals. 

So it would be a bit better to pick a storage provider with flat-rate fees.

Below are the scale fees of Gainesville Coins precious metals storage through its partner, Goldstar Trust Company:

 

Gainesville Coins storage rates

Payment and Shipping

There are 4 different payment methods that you can choose from cash, credit card, bank wire, or check.

If you choose cash, you can only pay if you are in their showroom and they don’t accept cash payments via mail.

If you choose a credit card, they only accept Master Card, Visa, American Express, and Discover.

For the shipping, there is a cost that you have to pay. 

You’ll find out once you place your order online.

As for the shipping time, it depends on the mode of payment. 

Gainesville Coins Review and Ratings

Here we will see the rates and reviews of this company so that we can see what other people have to say about them and what they have experienced.

The first one that we will take a look at is BBB, also known as Beter Business Bureau.

Here they received only 2.9 out of 5-star rating, and they also get an A+ from them.

Gainesville Coins bbb

They got 13 complaints on BBB in the last 3 years.

Here are the complaints;

Gainesville Coins bbb complaints

The following website that we are going to look at is Sitejabber.

Now, in Sitejabber, there are only 12 reviews, and they receive 3.75 stars.

There are complaints here, but most of the complaints were 3 or 4 years ago.

Is Gainesville Coins a scam?

No, Gainesville Coins is not a scam. The company has been around for a very long time.

Despite their low star rating they got from BBB, they still resolve the issue from their clients.

Also, it is a member of different associations and received rewards. 

I know some of those complaints were old it still quite alarming to anyone who might be thinking about working with the company.

So do I recommend this company? It is up to you to decide if you have the money to buy their precious products, but if you think this is not for you, I suggest finding a better alternative to make money.

PROS

  • Wide range of products
  • A member of several authoritative bodies
  • Received rewards
  • Offers precious metals IRA services
  • You can sell products to them

CONS

  • Sliding scale fees for the storage options
  • No direct storage facility and precious metals IRA service

Final Thoughts

Now you know about the Gainesville Coins and what this company has to offer.

The company has been around for more than 20 years now, and they receive rewards and a good rating with BBB.

I know there are only a few complaints about the company, but you still have to look up to it.

So as I said earlier, it is up to you to decide if you want to try this company.

Before you join, remember the complaints that you just read and think about it before joining the company.

If you are looking for a better alternative, click on the button below to see our #1 recommendation

Thank you for taking the time to read my Gainesville Coins review. If you have any questions or experiences with this company, please share in the comments below.