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Situated in the sun-drenched city of Sarasota, Florida, Modern Coin Mart (MCM) is not just any bullion and precious coins dealer; it is a respected institution that has firmly established itself at the top of the precious metals industry, specifically bullion and coins.
Guided by the well-seasoned expertise of CEO John Maben – a professional Numismatist (a person who authenticates or grades coins for commercial purposes) who has a rich career covering three decades in the trade – MCM has an impeccable, faultless track record, one that few other precious metals dealers can compete with. The Modern Coin Mart reviews, which are plentiful and glowing, are a testament to that fact.
Aside from anecdotal review-based evidence, MCM is in extremely good standing with the Better Business Bureau, with an A+ rating. Yellow Pages, Trust Pilot, and Yelp all show similarly quite shining scores also.
However, having a credible and well-known industry professional spearheading the company is not their chief reason for success. Their accomplishments are in no way solely attributed to leadership alone. As a subsidiary of the renowned John Maben Rare Coins Inc. (JMRC), MCM is backed by a crack team of 35 extremely well-vetted specialists, including nine top-tier Numismatists (at the time of writing, at least).
Incidentally, It is worth noting that it is certainly not uncommon for coin dealers to have one or two Numismatists in their ranks, but an entire team of nine is quite extraordinary and speaks to their analytical, professional approach.
Their credentials further impressed us, with the majority of the team being affiliated with admirable organizations like the American Numismatist Association, among others.
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All-inclusive Approach
But what truly characterizes MCM, in our opinion? Their comprehensive attitude towards online trade. Not only do they offer an all-encompassing and incredibly diverse range of gold, silver, platinum, and palladium coin and bullion products, but they also cater to a broad audience, and that is something we value here at Gold IRA Blueprint.
Whether you’re an investor thinking about IRA-eligible bullion for Precious Metals IRAs or simply a passionate coin collector seeking the next numismatic rare find, MCM has something tailored for you. In other words, savvy investors and passionate coin hobbyists will both feel right at home using their service.
Something else we noticed is that they have also managed to streamline the process of coin trading (a feat that has been something of a challenge for many coin and bullion traders over the years), demonstrating, in turn, a nice combination of coherence and expertise in every transaction. It is this user-friendly approach that has helped grow their well-earned status as one of the fastest-growing companies in the American precious metals and coins sector.
So far, so good, then. Overall, we can state quite comfortably that this is a company worth trading with. That said, they are not flawless (and we will cover one or two of those flaws shortly) by and large, however, MCM is definitely one of our favorites in the precious coin markets, and we say that objectively, with zero bias.
Now, with this fairly broad overview complete, we should take a look at the main products offered by MCM, along with a little more specific detail for this Modern Coin Mart review.
Wide Range of Gold Offerings at Modern Coin Mart
As the name suggests, Modern Coin Mart offers a broad range of precious coins in addition to bullion. Their inventory includes modern gold bullion coins, commemorative pieces, proofs, and other collectible coins, including some interesting rarities.
A quick look at the above shows popular choices like Gold Eagles, Gold Krugerrands, Gold Maple Leafs, Gold Buffalos, Gold Lunar Coins, and Gold Philharmonics.
These coins are available in various conditions, including uncirculated, proof, and certified graded variants. They offer different sizes and packaging options, from sealed sheets of Gold Maple Leafs to sealed tubes of Gold Eagle coins. If you have a penchant for those rare collectible coins we just mentioned, Modern Coin Mart will not disappoint.
Modern Coin Mart’s Gold Bar Collection
The various offerings at ModernCoinMart.com include an extensive selection of gold bars. Their inventory features respected brands like PAMP Suisse, Credit Suisse, Perth Mint, Sunshine Mint, Argor-Heraeus, Royal Canadian Mint, and Valcambi. Notably, they also present their exclusive line known as “MCM Star Bullion.” Produced by the Sunshine Mint, these bars are currently available in 1/10 oz weights.
Compared to other online bullion dealers, Modern Coin Mart’s inventory is huge. The various products listed under their online menu seem almost never-ending. Their offerings span from the petite 1-gram bars to 100 grams, with the popular 1 oz size always readily available.
At present, they list about 45 separate gold bar products, and most sizes come with several brand and design choices.
On the pricing front, we would describe Modern Coin Mart as extremely competitive. They also offer the advantage of free shipping for domestic orders up to $15,000, and should an order exceed this amount, a fee applies for USPS Express Mail service. At the time of writing this review, that fee was $39.
Gold Bullion Pricing at Modern Coin Mart
The rates offered by Modern Coin Mart for gold bullion coins and bars are again quite reasonable, and we like the range of discounts available for bulk purchasing, although a little context is needed to convey this opinion: during this review, the PAMP Fortuna 1 g Gold Bar In Assay was priced as low as $78.38 for over 25 units (via bank wire). Conversely, single orders of up to nine bars were priced at $82.26 per unit. That’s quite a healthy disparity, in our view.
While the per-unit rates might be slightly above some (but certainly not all) competitors, the inclusion of free shipping and a healthy discount on bulk purchasing brings real value here.
For anyone who has a keen eye for the market, Modern Coin Mart provides real-time gold spot prices, updating these figures along with the rates for other metals like silver, platinum, and palladium during market hours.
Overall, bulk purchases come with a noticeable advantage in terms of discounts, while their pricing over the spot rate is mostly quite competitive.
Customer Support
Modern Coin Mart has a pretty strong reputation for customer service, with an expert team that is available Monday through Friday from 7:30 AM to 5:15 PM EST. They also extend their service hours over the weekend from 11 AM to 4 PM EST.
They have an entire team of Numismatists available for a chat – each of whom has deep knowledge about the coins and bullion they offer – ready to assist through live chat or by phone at 1-800-362-9004 and 1-941-907-8050.
Payment Options at Modern Coin Mart
Customers can choose from the usual range of payment methods, including major credit cards like Visa, MasterCard, American Express, and Discover. Modern Coin Mart accepts PayPal, checks, money orders, and bank wires. Again, all of the usual, expected payment methods, basically.
MCM Shipping Details
Upon placing an order with Modern Coin Mart, you can expect it to be dispatched on the second business day. To keep you up to date with the order, MCM will send over tracking details, ensuring you can trace your package’s journey.
For customers in the United States, the SmartShip service provides complimentary shipping, while for international deliveries, MCM wheels out a variety of carriers, including USPS, FedEx, and, occasionally, UPS.
Point of note: all import-related expenses, be it duties or taxes, are the customer’s responsibility.
Reviews and Testimonials
With a BBB A+ rating and over 375,000 positive feedback on eBay, the reputation of MCM is also validated by extensive ModernCoinMart reviews across multiple platforms. As noted, they really do have a pretty strong reputation for customer service – a statement that is reflected in mostly glowing reviews.
We have found a few reviews that would be classed as ‘negative,’ all of which pertain to what seems like a brief phase of delivery hiccups some years ago. That aside, online feedback is overwhelmingly positive.
Pros and Cons
We noted earlier that MCM is not entirely flawless, but the truth is that despite our best efforts, we are finding it difficult to be too critical of their service. As a result, we are clutching at straws somewhat with the following “cons,” but this is a review, after all, and we would feel a little unbalanced by skipping over any negatives completely.
| PROS | CONS |
| No order minimum | No direct metals IRA service |
| Complimentary domestic shipping | Lacks storage solutions |
| Intuitive online interface | Purchases based on inventory only |
| Extensive coin and metal variety | |
| Diverse payment methods |
Company Details
Address: 5260 Paylor Lane, Sarasota, FL 34240-896
Phone: (800) 362-9004
Email: info@moderncoinmart.com
Website: www.moderncoinmart.com
Hit or Miss? Our Final Word
Definitely a hit. Modern Coin Mart provides a nice selection of competitively-priced coins and precious metals, and while they don’t directly partner with IRA or 401(k) custodians, they do offer the flexibility to choose your preferred custodian or depository.
However, while purchasing plain gold bullion, be aware their prices may be slightly higher over spot compared to some competitors, but if you are looking for bulk purchases, you really can’t go wrong with MCM.
One final thing worth mentioning – it is fairly common for customers in the precious coins, metals, and bullion space to also venture into the world of Gold IRAs, and so with this in mind, we encourage you to take a quick look at further reviews we have created, relating to Gold IRA products.
- Augusta Precious Metals (Recommended)
- Advantage Gold
- Regal Assets
- Noble Gold Investments
- Goldco Precious Metals
- Patriot Gold Group
Article Sources
At Gold IRA Blueprint, we dive deep into the world of gold IRAs, using trusted sources to back up our insights. Our sources range from official documents to expert interviews, ensuring our content is both accurate and reliable. We also draw on research from reputable publishers to give you the most comprehensive understanding possible. Check out our editorial policy to see how we maintain our high standards for accuracy and fairness. Also make sure to check out our Financial Review Process to have a better understanding of our process.
- https://en.wikipedia.org/wiki/List_of_most_expensive_coins
- https://www.gold.org/
- https://www.bbb.org/us/fl/lakewood-ranch/profile/coin-dealers/moderncoinmart-0653-90039110/customer-reviews
