Is American Mint a Scam? Red Flags Exposed! [2023]

Investing in gold can be a wise decision for anyone looking to diversify their portfolio or safeguard their investments against market volatility. However, choosing the right gold company to invest with is important to ensure that your investment is safe and secure.

Is American Mint a scam that is trying to pose as a legit Mint of America? In this review, we'll take a closer look at what American Mint is to answer all the questions you may have about this company!

What is American Mint?

American Mint is a manufacturer and seller of collectibles and high-quality coins. They are an international mail marketer headquartered in Harrisburg, Pennsylvania. They claim to serve over a million serious collectors worldwide. Plus, they also boast about their 30 years of experience in the collector’s market.

According to them, their team consists of a committee of historians and experts that decides which events or persons should be honored with a commemorative coin. After that, master craftsmen make these coins meticulously with perfect detail. According to them, each coin takes six months to make from an idea into a finished product.

American Mint guarantees the following to its customers:

• Commitment to quality
• Product exclusivity
• Product authenticity

Unfortunately, I didn't find any information about the owner of the company on their website. However, upon deeper research on the internet, I have found something more intriguing. Continue reading to learn more.

Who is the owner?

The American Mint website does not disclose the owner's identity. However, I found a civil action case, where is mentioned that the owner of American Mint is Michael Goede.

The only thing we know about Micheal Goede is that he is a German citizen, besides this, there is no information about him or his background.

So, going back to the civil case, American Mint filed a complaint against GOSoftware for a purchase of their RiTA software. However, GOSoftware got the case dismissed due to a technicality. If you want to read more about this case, then you can do so here.

This civil case looks related to another issue in which American Mint issued refunds and was forced to pay over $25,000 in fines. The issue seems to be that American Mint has sent customers products that they didn’t order or billed customers for products that they didn’t purchase.

Furthermore, American Mint also keeps on trying to collect payment from customers even though they already returned the wrongly shipped items. American Mint blames the overbilling fault on the RiTA software which they purchased from GOSoftware.

Products and Services

Below, you can find the following products you can buy from American Mint:

• Solid Gold Coins
• Gold-Layered Coins
• Solid Silver Coins
• Silver-Plated Coins
• Platinum
• U.S. Currency
• Commemorative Coins

Aside from coins, they also sell other products like knives and accessories to store your newly purchased products. On their website indicates the prices of the products which is a huge plus. If you would like to buy rare coins, then you would need to contact someone from their team to help you do this.

American Mint also offers other services to its customers to better satisfy them. One of these is a 90-day return policy if a customer is not happy with the product that they purchased. Furthermore, they also offer free shipping and handling for orders over $150.

However, they do not offer I.R.A services which can be a huge thing for people who are looking to invest in it. If you are one of those, then I recommend you check out GOLDCO.

American Mint Purchasing Process

To start buying products from American Mint, the first thing you'll need to do is create an account. After that, you can then start adding products to your cart like any other online marketplace. After that, you can then proceed to check out.

Below are the payment options they accept:

• Visa
• Mastercard
• PayPal
• Discover
• American Express
• Check/Money Order

The company charges $6.95 for shipping and handling and offers free shipping for orders above $150.

U.S. Postal Service ships orders below $250, while FedEx delivers orders above $250.

American Mint Ratings and Reviews (2023)

I did some digging to see what people are saying about American Mint and I found a lot of complaints and negative reviews as you can see below:

• Trustpilot – 3.2 out of 5 based on 792 reviews
• ConsumerAffairs – 1.4 out of 5 based on 130 reviews
• BBB – 1 out of 5 based on 12 reviews, Not Accredited
• ComplaintsBoard – 1 out of 5 based on 45 complaints
• RevDex – 1 out of 5 based on 33 reviews

According to these customers, it seems like American Mint doesn't have that great of a reputation after all. Furthermore, they aren't accredited by the BBB even though they have been operating for a long time.

They also have a pending lawsuit for allegedly violating the Pennsylvania Unfair Trade Practices and Consumer Protection Law.

This lawsuit came from a series of complaints against American Mint for not being totally transparent to their customers about their services. For example, they did not entirely disclose that they are enrolled in a continuous sales program.

More American Mint Red Flags...

If this is not enough, then here are more red flags.

It has been found that their products are not entirely made by a group of "expert craftsmen" but are duplicates acquired from China. Furthermore, a Reddit post exposed them for having typos in their certificates of authenticity that come with the product you purchase.

So, do you still think you can trust this company with your hard-earned money? If you think not, then I suggest you skip on over to my most recommended precious metals company, GOLDCO.

What I Like About American Mint

Honestly, the only thing I liked about American mint is that they have a 90-day return policy

What I Don't Like About American Mint

• Shady Practices
• There's no information about the owner on their website
• Very low customer ratings
• A lot of negative reviews from customers that felt they were scammed
• Already been in a lot of controversies
• Has a pending lawsuit from the state of Pennsylvania.

Is American Mint a Scam? - Final Verdict

So, is American Mint a scam? Looking upon all the information above, I think that American Mint has the hints of a scam company. First, they aren't entirely transparent to their customers on what they are signing up for. Which resulted in a lot of complaints from people receiving products out of nowhere and being forced to pay for them.

also, they claim to be experts in their field but have been caught having simple typos on their certificate of authenticity. Furthermore, their products have also been found to be from China and not crafted by them. 

Lastly, they have been in a lot of controversies as early as 2005 and as recently as 2021 when the state of Pennsylvania charged them for violating Customer Protection Laws. Plus, they are also not an authorized mint dealer in the U.S. even though they carry the "American" name.

So, I advise you to stay away from this company and look for a more trustworthy company. 

The company that I recommend is GOLDCO,  a reputable gold firm that has thousands of positive reviews everywhere online!

Investing in precious metals with Goldco offers many benefits, including expert guidance, a variety of investment options, protection against market volatility, tax advantages, and excellent customer service.

>>Learn more about Goldco Here.

Thanks for reading! and If you have any thoughts regarding American Mint, then don't hesitate to leave a comment below!