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January 8, 2023

Is American Mint a Scam? The Truths You Need to Know (2023)

Is American Mint a Scam? That may be the question you are asking yourself right now. Well, I am here to tell you all about the ins and outs of this company. Are they a company that you can trust with your money?

As a responsible investor, it is only right for you to have all the information that you need. First, you need to know how they operate. After that, you need to hear from the people who have dealt with them before. Hopefully, you can then make an informed decision about them.

So, is American Mint Legit? Or are they just a company trying to pose as a legit Mint of America? Well, let’s find out together in this review of American Mint.

American Mint Summary Review

  • Name: American Mint
  • Website: https://www.americanmint.com
  • Founder: Michael Goede
  • Price: Varies 
  • IRA Minimum: No IRA Services
  • Rating: 1/5
Is American Mint a Scam

What is American Mint?

Homepage

American Mint is a manufacturer and seller of collectibles and high-quality coins. They are an international mail marketer headquartered on 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 this coins meticulously with perfect detail. According to them, each coin takes six months to make from an idea into a finished product. Furthermore, they only not make coins but they are also in constant search for rare coins in museums or art auctions.

American Mint guarantees the following to their customers:

  • Commitment to quality
  • Product exclusivity
  • Product authenticity

Unfortunately, I cannot 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 disclosed the owner's identity. However, a civil action case title American Mint Llc v. Gosoftware, Inc has named Michael Goede as the owner of American Mint.  Michael Goede is a German citizen which operates American Mint under the laws of the Commonwealth of Pennsylvania. Unfortunately, there aren’t a lot of information online about Michael Goede. 

So, going back to the civil case, American Mint filed a complaint against GOSoftware for a purchase of their RiTA software and how it costed American Mint money and customers. 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 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 product 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 to 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, American Mint also sells other products like knives and accessories to store your newly purchased products. Furthermore, 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. In conclusion, they offer a wide array of products for their customers.

American Mint also offer other services to their 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 other people who are looking to invest in it. If you are one of those, then I recommend you read my review of GOLDCO.

American Mint Purchasing Process

To start buying product from American Mint, all you have to do is create an account in American Mint. After that, you can then start adding products to your cart like any other online marketplaces. After that, you can then proceed to check out. 

American Mint currently accepts the following payment options:

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

American Mint charges a flat charge of $6.95 for shipping and handling. However, if your order is above $150 then they will give you free shipping and handling fee. U.S Postal Service ships orders below $250, meanwhile FedEx will deliver orders above $250.

Ratings and Reviews (2023)

So, is American Mint a Scam? Below, you can see the customer ratings and reviews of American Mint:

  • 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
american mint rating 1
american mint rating 2
american mint rating 3

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. Plus, they have a pending lawsuit for allegedly violating the Pennsylvania Unfair Trade Practices and Consumer Protection Law.

Pending government action

This lawsuit stems 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 to their customers that they are enrolled into a continuous sales program.

So, a lot of surprised people are receiving items that they have no recollection of buying. What's worse is that they still pay for it out of their pockets.

More Red Flags...

If this is not enough of a red flag for you, then here are more red flags.

It has been found that their products is 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 which comes with the product you purchase.

Certificate of Authenticity Typo

So, do you still think you can trust this company with your hard earned money? If you think not, then I suggest you check out my top 5 best gold companies. However, if you want to cut to the chase then I suggest you skip on over to my most recommended precious metals company, GOLDCO.

What I Like About American Mint

  • Fully Functioning E-Commerce website
  • Accepts many ways of payment
  • They have a huge array of products for you to choose from
  • 90-day return policy

What I Don't Like About American Mint

  • Shady Practices
  • Owner's information cannot be found on 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 I can say 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 into a lot of complaints from people receiving products out of nowhere and being forced to pay for it.

Second, they claim to be experts in their field, but has 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 where they 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 steer away from this company and look elsewhere for your precious metals needs. 

This is why I always recommend GOLDCO. Goldco is a precious metals company that offers IRA services. Furthermore, they are highly rated by customers with thousands of reviews online.

If you want to learn more about Goldco, then click the button below!

If you have any comments regarding American Mint, then don't hesitate to leave any comments below!

Need Information? Call Here: (844) 577-0028

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