Hello! Welcome to my Universal Coin & Bullion Review! Read until the end to learn all you might want to know about this company before working with them!
Precious metals have been a valuable investment for centuries. They have been used as currency, a way to store wealth, and a hedge against inflation and economic uncertainties.
Today, there are many companies that offer precious metal services, such as buying, selling, and storing precious metals. If you are considering investing in precious metals, you may have come across Universal Coin and Bullion.
Here, we always value unbiased reviews to help investors find the best companies for them. We’ve given Universal Coin & Bullion our personal rating, and after you read this review, you will understand why. Without further ado, we will discuss whether or not they are a good investment!
Universal Coin and Bullion Review Quick Summary
Name: Universal Coin & Bullion
Founder: Mike Fuljenz
Price: Depends on your investment
What is Universal Coin and Bullion?
Universal Coin & Bullion is a company that specializes in gold and silver bullion. Founded in Beaumont, Texas, The company has been in operation since 1994, making it one of the longest running businesses in the industry.
In addition to its product specializations, Universal Coin and Bullion also provides numerous services to their customers. They can even help you develop a customized investment strategy that meets your specific needs and goals.
The company is led by award-winning numismatist Mike Fuljenz, who is known as "America's Gold Expert®". Fuljenz has won over 60 national and regional awards for his consumer education and protection work in rare coins and precious metals.
Through its history of business, they have built a strong reputation, making them a trusted source for rare coins and bullion products. The company's strong commitment to customer service and education makes it a great choice for investors and collections alike.
Universal Coin and Bullion Products
Universal Coin & Bullion is a leading retailer of precious metals, offering a wide selection of gold, silver, platinum, and palladium products. From coins and bars to rounds and ingots, the company has something to meet the needs of every investor and collector.
Whether you are looking to invest in precious metals for the long term or simply appreciate their beauty and craftsmanship, or whether you are a beginner or expert, the company is the perfect place to start.
The following are the products that are currently available in their website as of this writing:
Gold: American Gold Eagle, Canadian Gold Maple Leaf, Australian Gold Kangaroo, Austrian Gold Philharmonic, Chinese Gold Panda, South African Gold Krugerrand, British Gold Sovereign, Mexican Gold Libertad, Indian Gold Sovereign, Swiss Gold Franc, Belgian Gold Franc, Dutch Gold Ducat, French Gold Napoleon, German Gold Eagle, Italian Gold Lira, and Russian Gold Chervonets.
Silver: American Silver Eagle, Canadian Silver Maple Leaf, Australian Silver Kangaroo, Austrian Silver Philharmonic, Chinese Silver Panda, Mexican Silver Libertad, British Silver Britannia, South African Silver Krugerrand, Russian Silver Round, German Silver Round, Indian Silver Round, Italian Silver Round, Swiss Silver Round, Belgian Silver Round, Dutch Silver Round, and French Silver Round.
Platinum and Palladium: Platinum and Palladium American Eagle Coins, Maple Leaf Coins, and Bars of different sizes and weights. They also offer a variety of certified platinum and palladium coins. Certified coins have been graded and authenticated by a professional grading service, such as PCGS or NGC.
Universal Coin and Bullion IRAs Offered
Universal Coin & Bullion offers IRAs, but they are not IRA custodians, meaning they do not directly manage them. Instead, they partner with different custodian companies. This means that the fees associated with Universal Coin & Bullion's IRAs may vary depending on the custodian you choose.
To get accurate information about the fees associated with the accounts, you should contact the custodian company before setting up an IRA. Universal Coin & Bullion does not provide all of the information because it is provided by the custodian companies.
Universal Coin & Bullion's most popular IRA eligible products are American Gold Eagles and American Silver Eagles. However, they also offer a variety of other precious metal products, including:
Gold: Australian Gold Kangaroos, Gold American Buffalos, South African Gold Krugerrands, Gold bars of varying weights
Silver: Canadian Silver Maple Leafs, Australian Silver Kangaroos, Austrian Silver Philharmonics, Silver bars of varying weight
How To Buy From Universal Coin and Bullion?
Ordering in Universal Coin and Bullion is pretty straightforward. You will only need to visit their website and open an account with them to make every process easier.
Browse their product catalog by category, such as gold coins, silver coins, platinum coins, and palladium coins. Or, use the search bar at the top of the page to search for specific products. Once you have found items to purchase, just add them to your cart.
Then. if you have added all of the items you want to buy to your cart, you can now review the items and make any changes before proceeding to checkout. When you are satisfied with the items in your cart, you can proceed to checkout.
Next, click on the "Proceed to Checkout" button, where you can enter your shipping and billing information. After this, you will need to choose a shipping method.
The last step is to review your order and click on the "Submit Order" button. This will submit your order and Universal Coin & Bullion will begin processing it. Once you have submitted your order, you will receive an email confirmation shortly after. Your order will typically be shipped within 1-2 business days.
Universal Coin and Bullion IRA Fees
Universal Coin & Bullion does not disclose the fees associated with its IRAs on its website because they partner with other companies to provide custodial services.
This means that the fees may vary depending on which custodian you choose. To learn more about the fees, you need to contact the custodian directly. But, here are some of the common fees associated with IRAs:
- Account setup fee: This is a one-time fee charged when you open the account.
- Annual maintenance fee: This is a recurring fee charged each year to maintain your IRA.
- Storage fees: If you choose to store your precious metals with Universal Coin & Bullion, you will be charged storage fees.
Accepted Payment Methods
When making a purchase from Universal Coin & Bullion, customers have a variety of payment methods to choose from, including credit cards, debit cards, wire transfers, money orders, and cashier's checks.
- Credit cards: Visa, Mastercard, American Express, and Discover
- Debit cards: Visa and Mastercard
- Wire transfers
- Cashier's checks
- Personal checks (orders paid by personal check will be held for 10 business days to clear before processing)
According to Universal Coin & Bullion's Payment Methods page, they do not accept PayPal or cryptocurrencies as payment methods. If you want to invest in precious metals but only have assets in cryptocurrency, I suggest you should go to Goldco.
Goldco is a leading precious metal company, they are one of the most complete companies with excellent products and services, and they certainly accept Paypal and Cryptocurrencies as mode of payments.
Storage Facilities and Services
Unfortunately, Universal Coin & Bullion does not have their own storage facilities, thus they do not allow buyers to store their investment with them.
However, you can store your investment in an IRA with third-party partners of the company. There are fees that come when you pick that option. Furthermore, the custodian is the one who decides on it.
According to Universal Coin & Bullion's website, they currently have two partners for IRA storage:
- GoldStar Trust Company: Gold Star is a Delaware trust company that provides a variety of IRA storage services, including precious metals storage. Gold Star offers a variety of storage options, including segregated and unallocated storage. They also offer insurance on all stored assets.
- New Direction IRA: New Direction IRA is a Texas-based company that provides IRA storage services for a variety of assets, including precious metals. New Direction IRA offers a variety of storage options, including segregated and unallocated storage. They also offer insurance on all stored assets.
Note that Universal Coin & Bullion are only partners with them and does not endorse either of these companies and does not guarantee the services that they provide. Customers should do their own research and choose a custodian that meets their individual needs.
Shipping Information and Services
You might be wondering what happens after you have bought your coins or gold bars. Well, Universal Coin & Bullion offers a variety of shipping methods, including USPS, UPS, and FedEx. You can choose the shipping method that works best for you.
The company offers free shipping on online orders over $99. Orders under $99 will be charged a shipping fee of $6. Orders will typically ship within 2-3 business days of payment. However, there may be occasional delays due to high demand.
Buyers who make credit orders will get their orders within two to three business days. Those who place personal check orders can get their orders shipped within 10-15 business days. Bank wire orders will be shipped within 2-3 business days.
There is also another case where the client pays through money orders or cashier’s check. And in this instance, you will get it shipped in 5 to 10 days. Note that there might be occasional delays due to high demand.
Educational Resources and Services
Universal Coin & Bullion values customer knowledge and education, that is why they offer free resources and services to anyone. You can easily access these materials in their website. These resources include:
- Blog: They feature articles on a wide range of topics related to precious metals investing, including market news, investment strategies, product reviews, and insights from industry experts.
- Videos: Universal Coin & Bullion's YouTube channel features videos on a variety of topics related to precious metals investing, including product overviews, educational tutorials, and interviews with industry experts.
- Webinars: The company offers regular webinars on a variety of topics related to precious metals investing. Webinars are a great way to learn more about precious metals investing from experts in the field, and to ask questions in real time.
- Investment guides: Universal Coin & Bullion offers guides that cover a wide range of topics, including how to get started investing in precious metals, how to choose the right precious metals products for your needs, and how to store and protect your precious metals investments.
Universal Coin and Bullion Customer Service
Universal Coin & Bullion offers customer service through a variety of convenient channels, including phone and email. Customer service representatives are available during regular business hours, Monday through Friday.
The company's customer service representatives are said for being friendly, knowledgeable, and helpful. They are always willing to answer questions and help customers make informed decisions about their purchases.
Overall, their customer service isn't that excellent compared to its leading competitors. The company has fairly average ratings from different websites, and it has received negative reviews from customers on other review sites. In addition, there are some complaints about high shipping costs and delays in order processing.
If you want a company that provides the best customer services and support, you should take your interests to Goldco. This company is our top-recommended company as they really take good care of their customers.
Does Universal Coin and Bullion Have Buyback?
Universal Coin & Bullion buys back any precious metal product they sell, including coins, bars, and rounds made of gold, silver, platinum, and palladium.
You can sell your precious metals to Universal Coin & Bullion by mailing them to their store in Beaumont, Texas, or by bringing them in person. If you're mailing them, be sure to package them securely and insure them for their full value.
Once Universal Coin & Bullion receives your precious metals, they'll inspect them and make you an offer. If you accept the offer, they'll pay you right away.
Return and Cancellation Policy
Universal Coin & Bullion allows returns and cancellations of orders, but you need to follow their policies. Basically, you can ask for a full refund if you return an item within 30-days from purchasing. In the other hand, Universal Coin & Bullion does not accept cancellations on orders that have already been shipped.
To return an item, you must reach their customer service to obtain a return authorization number (RA). Once you have an RA number, you can ship the item back to Universal Coin & Bullion.
The item must be in its original packaging and must be in the same condition as when you received it. They will not accept any items that already has damages. Lastly, take note that shipping costs will be on your responsibility, and all refunds will be issued to your original form of payment.
Frequently Asked Questions
#1 Can Anyone Buy from Universal Coin & Bullion?
Universal Coin & Bullion only serves clients who are in the United States. If you are a customer that is outside the United States, you might need to find other companies. I suggest you take a look at Goldco.
#2 Can You Sell Back to Universal Coin & Bullion?
Yes, you can sell your gold or silver to Universal Coin & Bullion. However, they did not disclose information about it on their website. You should contact the firm with regards to this.
#3 Can Universal Coin & Bullion Deliver Products to your Home?
Yes, they can deliver your products or orders straight to your home. This is called home-storage. With this, you bear the responsibility of keeping them safe and secure. You just have to give them the information and the instructions for them to deliver the items to you.
#4 Are your Orders Insured?
Yes, Universal Coin & Bullion claims that all of your orders are fully insured in case of loss or damage during the shipping.
#5 Does Universal Coin & Bullion Have an Investment Storage?
Unfortunately, Universal Coin & Bullion does not offer any investment storage services. Like in the case of IRAs, Universal Coin & Bullion will offer you storage options from its partners.
Universal Coin and Bullion Ratings
Frankly speaking, Universal Coin and Bullion does not have that solid of a reputation in online review websites. Listed below are their ratings and reviews which can be found online:
Universal Coin and Bullion BBB Rating
The company has an A+ grading in their BBB profile, but they have a fairly average 3.4 out of 5 star rating. Considering that this is an average out of only 10 reviews, it really is an displeasing sight to see.
For a company that has been in 32 years in business, it is unusual and confusing why they have such little reputation in the internet. Although this is a very small sample to judge whether or not Universal Coin and Bullion really has good services, this is still worth taking note.
Universal Coin and Bullion Yelp Rating
Again, Universal Coin and Bullion gets a poor grade in their Yelp profile. They have garnered a 2.7 out of 5 star rating based on a very few 3 customer reviews. If this says something, I really tell you to do your own research before going into business with them.
It seems that that is the only review I can find of them online. For me, this is a red flag! Unlike our most recommended precious metals company which has received tons of positive reviews and ratings!
Universal Coin and Bullion Complaints
For a company that has very few ratings from popular websites, they do have relatively lots of customer complaints. What does this tell you? A huge red flag. The following below are some alarming comments that customers have left after transacting with Universal Coin and Bullion:
If you carefully read the complaints, you can catch that Universal Coin and Bullion's customer service are not well responsive, and they seem to leave you hanging when you have complaints. These may be isolated cases, but it still is worth taking note of to avoid getting scammed.
If you still want to invest with this company after reading the complaints, it is really up to you. My only advice is to talk personally with representatives and take a feel for yourself whether they are worth it.
Universal Coin and Bullion Lawsuit
Frankly, the company has been the subject of a number of individual complaints filed with the Better Business Bureau and other reviewing websites. The complaints typically allege problems with the products and services.
However, Universal Coin and Bullion was actually involved in a lawsuit in a class action lawsuit in 2015. The lawsuit was settled in 2017, with Universal Coin & Bullion agreeing to pay $3 million to the class members.
The lawsuit alleged that the company had engaged in deceptive and unfair trade practices, including misleading customers about the value of its products and services, and charging excessive fees.
The settlement also required Universal Coin & Bullion to make changes to its business practices, including providing more accurate information to customers about the value of its products and services, and reducing its fees.
Better Alternatives To Universal Coin and Bullion
Precious metals can be a good investment, but you should do your research and understand the risks. There are many reputable precious metals companies, but there are also scams.
Here is a comparison of Universal Coin and Bullion and three of its main competitors: Goldco, Augusta Precious Metals, and Money Metals Exchange:
Gold, silver, platinum, and palladium
Buying, selling, storage
Free shipping on orders over $99. Shipping fee depends on orders under under $99.
Gold, platinum, silver, and copper
Buying, selling, storage
But if you would like to go with the top-rated alternative to Universal Coin & Bullion, Goldco is a sure bet. Their customer service is second to none. Not only that, their product catalog as well as their customer service is comparable to non-other.
Universal Coin and Bullion Pros and Cons
- They offer a wide range of gold and silver products.
- Has been in the industry since 1994
- Has buyback program
- Competitive prices
- There is no live chat feature in its website
- Has a couple of complaints
- Not much reviews online
- No direct IRA and storage services
- There are complaints about delayed shipping
Is Universal Coin and Bullion a Scam?
Before you order any coins, you might want to know how legit their platform is. right? One thing that they had demonstrated in the years of being operational is that the company has striven to maintain high levels of trust.
They appear to be a legit company with a real physical address and owners, so there's probably nothing to worry about.
The fact that they do not have many reviews online is quite likely a red flag. So, if you don't want to take any chances, check out the #1 recommended precious metals dealer down below.
The Top Recommended Precious Metals Firm!
If you wish to make your gold and silver purchases with a trusted and renowned firm, there is no other answer to that besides Goldco! They have a proven track record of providing excellent customer service and protecting their customers' assets.
Goldco offers competitive Gold and Silver IRAs. They have one of the most complete precious metal products in the whole industry. This ranges from gold, silver, platinum, palladium, collectibles, rare coins, and even jewelry!
Investing in Goldco assures that you and your precious metal investments are well taken care of. Furthermore, Goldco is also highly recommended by its customers. They have near pefect ratings in different reviewing websites including BBB and Trustpilot.
To You can check them out by clicking on the orange button below! Thank you so much for reading my Universal Coin & Bullion review! If you have any questions or comments about it, feel free to share them below in the comment section!