Is Nationwide Coin and Bullion a Scam? You might be asking yourself this question, and rightfully so! As a responsible investor, one of the most important thing to do is to DYOR or Do Your Own Research.
Investing in precious metals is one of the most effective means in securing your future. However, poor decisions can lead to bad investments. That is why I am here to help you choose the perfect company for you. Furthermore, I am gonna discuss here whether Nationwide Coin and Bullion can be trusted or not.
So, come and join me as we go through what Nationwide Coin and Bullion is all about.
Is Nationwide Coin and Bullion a Scam? A Quick Summary
Name: Nationwide Coin & Bullion Reserve
Website: nationwidecoins.com
CEO: Lawrence Kuykendall
Price: Depends on your budget
Recommended?: No!
What is Nationwide Coin & Bullion Reserve?
Nationwide Coin and Bullion is a precious metals company that was founded in Houston, Texas in 2009. Their precious metals offerings include gold, silver, palladium, and platinum. Furthermore, they also offer bullion coins.
They have a wide range of bullion coins offering; however, they specialize on U.S government coins and foreign coins as well.
They boast to have over 100 years cumulative experience among their experts. Furthermore, they claim that they are the most suited precious metals company for clients. They claim that they can make a customer's portfolio have a high return on investment with their experts.
Nationwide Coin and Bullion Reserve promises to be always honest with their customers and give them "Industry-leading" advice.
Nationwide Coin and Bullion Reserve Website Check
When I went to their website, I found it easy to navigate and very user-friendly. Furthermore, their homepage is clean and has a spot price banner that updates you with the current price of precious metals.
However, as of the time of writing their Frequently Asked Question page seems to be broken. Furthermore, a broken FAQ page seems weird for a company that prides itself on being transparent with customers.
What Does Nationwide Coin and Bullion Reserve Offer?
Listed below are the forms of precious metals you can buy from Nationwide Coin and Bullion.
For gold you can buy:
- Gold Eagles
- Anniversary Coins
- Gold Buffalos
- Indian Head Quarter Eagles
- Liberty Gold
- Pre-1933 Gold Coins
For silver they offer
- Silver Eagle
- Mercury Dimes
- Kennedy Silver Half Dollars
- Silver bars
Palladium and Platinum
- American Eagles
Does Nationwide Coin and Bullion Offer IRA Services?
Yes, Nationwide Coin and Bullion offers IRA services. In addition, you can hold precious metals assets with their IRA like Gold American Eagles and Gold proof American Eagles. Furthermore, you can store other precious metals as long as they are IRS-approved.
You can start with their IRA services by talking to one of their Senior Gold Specialist, which will help you in setting up your IRA account.
However, they do not state where your precious metals will be stored for safekeeping. Furthermore, they only stated that it will be stored in a designated specialized precious metals depository.
Nationwide Coin and Bullion Reserve Shipping Policy
Nationwide Coin and Bullion Reserve offers free shipping on every verified purchase. Furthermore, they do not require a minimum order amount for you to avail of the free shipping policy.
In addition, they claim that shipment to your home will usually take 7-10 days after it is verified. Furthermore, your location relative to their operating center, which is Texas, determines how long you have to wait to receive your order.
Nationwide Coin and Bullion Reserve Claims that they provide their customers tracking numbers with their order. They claim that customer will be able to trace their orders when it gets processed up to delivery.
Is Nationwide Coin and Bullion A Scam? Issues and Concerns
Nationwide Coin and Bullion Reserve sounds like it is a triple-A company. However, it seems that there are many complaints filed against Nationwide Coin and Bullion Reserve in their BBB profile.
Some claimed that they never got their orders and that their customer support was not being helpful at all! In addition, there are also reports that they are allegedly using bait and switch tactics.
They even got sued in Texas for violating the Deceptive Trade Practices-Consumer Protection Act! The guy who sued them claimed that they did not disclose information with him that would make him not deal with their company. You can read more about the lawsuit here.
Furthermore, there seems to be no information about their owner or CEO. In fact, their CEO Lawrence Kuykendall has an assumed name of "Larry Andrews".
For me, a complete lack of information about who runs the company behind the curtains is a huge red flag. Furthermore, it is a very important part of research to know who you are dealing with so you can easily come after them.
After reviewing hundreds of companies, Augusta Precious Metals seems to be the company with the highest positive reviews and happiest customers.
Is Nationwide Coin and Bullion A Scam? The Customer Reviews
Listed below are the customer reviews that I found in the internet.
- BBB - 3.31 out of 5 based on 26 customer reviews, No Rating by the BBB and not accredited.
- BCA - 4 out of 5 based on 14 reviews, AAA company rating
- Trustpilot - 4.5 out of 669 reviews
So, we have two opposing websites here. One where there are many complaints and one where there are many positive reviews. However, their negative complaints in BBB got so far as the BBB sending a formal notification to the company.
Nationwide Coin and Bullion Customer Service
You can contact Nationwide Coin and Bullion's customer service team in different ways that includes:
- Contacting them by calling their phone number
- Use their live chat feature on their website
- Or simply email them
If you live in Arizona, they have a physical location where you can visit and ask them in person.
While some people complain about Nationwide Coin and Bullion using bait and switch techniques and afterwards admitting that by doing follow up calls, it also seems like a lot of people are pretty happy with their customer support.
The Pros and Cons
Pros
- Offers a wide selection of precious metals; furthermore, they deal with US and foreign coins.
- They provide free shipping.
- Easy to navigate website.
Cons
- Received numerous complains on BBB; furthermore they are not accredited and they have their rating removed.
- Accused of using bait and switch tactics
- No information about the CEO or founder
- Poor customer service
Nationwide Bullion and Coin Alternatives
Here are some alternatives you should check out.
However, my most recommended precious metals company is Augusta Precious Metals. They have superb ratings and tons of positive reviews. Furthermore, they have excellent customer service. So, check them out!
Is Nationwide Coin and Bullion A Scam?
No, Nationwide Coin and Bullion Reserve is not a scam. They are still operating and they won't be if they were a scam. However, the complains filed upon them can make you question the quality of their service.
As an investor, no one wants to jump through a lot of hoops and problems. Furthermore, the complete lack of information about their CEO or founder is alarming for me. If you can't trust the owner, then can you even trust the company at all?
They even got involved in a lawsuit, which in itself is a massive red flag.
These are the reasons why I cannot recommend this company as there are a lot of other companies out there that you can trust. Augusta Precious Metals is one of those companies and I highly recommend you check them out.
Do you have your own experience with this company? Feel free to share it with us below in the comments!