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Gainesville Coins Review

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Gainesville Coins, LLC is an authorized distributor of precious metals for major mints. As an industry leading dealer, this company sells several types of precious metals, including gold, silver, platinum, palladium, and copper. They're a member of a number of prominent organizations, including the Industry Council for Tangible Assets (ICTA), Certified Coin Exchange, American Numismatic Association, and Coin Net.

Gainesville Coins (GC) was established in 2006 with the goal of giving consumers the opportunity to purchase U.S. Gold and Silver coins at highly competitive prices. In addition to the ratings shown below, they've been given a 5-star rating by the National Inflation Association (NIA), which also gave them the “2010 Best Bullion Award.”

About the Management

Gainesville Coins is managed by Owner and President Michael Yaffe, with the Secretary being Joseph Yaffe. Brett Frierson is listed as the customer contact in the company's BBB profile. The Yaffe family has extensive experience in the precious metals industry and has been involved in the management and ownership of several precious metal companies, including National Gold.

Gainesville Coins Ratings and Complaints

We've centralized all of the consumer reviews, complaints, and comments about this company from most of the major review sites online:

  • BBB Rating: A+ (Details)
  • BBB Complaints: 13 in the past 3 years (Details)
  • BCA: Not Rated
  • BCA Complaints: Not Rated
  • CitySearch: 60% based on 5 reviews (Details)
  • Google+: 3.8 Stars (3.8 / 5) based on 15 reviews (Details)
  • RipOff Report: No Reports
  • SiteJabber: 2.4 Stars (2.4 / 5) based on 8 reviews (Details)
  • Trustlink: Not Rated (Details)
  • Yellow Pages: 3.5 Stars (3.5 / 5) based on 8 reviews (Details)
  • Yelp: 3 Stars (3 / 5) based on 13 reviews (Details)

The majority of the complaints filed have been in relation to delivery issues and problems with their products or services. However, the company has a good track record of resolving complaints, including resolving 17 complaints with the assistance of the BBB during the past 3 years. Still, there are some instances of unresolved complaints in regard to the quality of the product delivered, but these issues were usually related to numismatic coins. With that said, buyers should be aware that GC also sells a large selection of numismatic and collector's coins – these cannot be used in an IRA. Thus, when purchasing precious metals for your IRA through this company it is important to only buy metals that are allowed in an IRA.

Gainesville Coins Prices and Products

Gainesville Coins offers secure storage of precious metals through GoldStar Trust Company, which charges a sliding scale fee. Because investors tend to purchase more precious metals as time passes, we typically do not recommend companies that use siding scale pricing structures. Instead, it is preferable to choose a storage provider that charges a flat rate fee. In addition to secure storage, the company offers a full range of competitively priced U.S. Gold and Silver coins, many of which are allowed in an IRA.

  • The cost of utilizing their secure storage service is set at a minimum of $180 per year when storing assets under $27,700 in value.
  • For storage of assets worth over $27,700 the cost ranges from 0.42% to 0.65% of the total amount stored per year, based on a sliding fee scale.
  • According to the example provided on their website, it costs $412.32 per year to store $60,000 worth of assets.

 Sliding fee scale for precious metals storage with GC-affiliated IRA firm, GoldStar Trust Company:

Market Value of AssetsGold Storage FeeSilver Storage FeeExample Scenario
$0 to $99,9990.65%0.65%$325 annual fee to store $50,000 in gold or silver
$100,000 to $499,9990.58%0.60%$600 annual fee to store $100k in silver, $580 annual fee to store $100k in gold
$500,000 to $999,999
0.50%0.52%$2,500 annual fee to store $500k in gold, $2,600 to store $500k in silver
$1,000,000 to $2,999,999
0.48%0.50%$4,800 annual fee to store $1 million in gold, $5,000 to store $1 million in silver
$3,000,000 to $4,999,999
0.45%0.45%$13,500 annual fee to store $3 million in gold or silver
$5,000,000 and over0.42%0.42%$21,000 annual fee to store $5 million in gold or silver

Gainesville Coins Contact Details

Key Pages from Gainesville Coins Website

Here are some of the key pages on Gainesville Coins' official website. These pages should inform you about the company's background and operations:

  • About UsThis page provides an overview of the accreditations, inventory types, pricing structure, customer service policies, and other important details about the company's products, services, and practices.
  • Learning CenterTheir learning center provides a wealth of information related to investing in precious metals, including a beginner's guide, FAQ section, infographics library, product guide, and collecting tips.
  • Precious Metals IRAThis page shows you how to get started with a precious metals IRA, explaining the steps involved in choosing and funding your IRA, as well as discussing the cost differences among IRA custodians.

Review All Gold IRA Companies Before You Buy

Before choosing Gainesville Coins or any other company it would be prudent to conduct a thorough comparison of all the major Gold IRA companies. Each firm has their own set of unique policies, fee structures, products, and services. The price of bullion and coins fluctuates frequently, so the most important aspect to consider when it comes to pricing is the commission or fee charged in addition to the base price of the metals you're buying. Finally, scrutinize each provider and examine their online reputation. If a business has a lot of negative reviews online, especially unresolved complaints, it might be best to opt for a more reputable firm instead.

Contact Us if You Own or Represent Gainesville Coins

If you're an owner or representative of Gainesville Coins LLC and you'd like us to amend or update some of the information on this page, feel free to contact us with your concerns. We strive to give our readers the most accurate and current information in all of our company reviews.

Gainesville Coins
  • Editor Rating

  • Rated 3 stars
  • Good
  • 0/5 Avg. User Rating

  • Rated 0 stars
  • 0 No reviews yet!

  • Gainesville Coins
  • Reviewed by:
  • Published on:
  • Last modified: October 31, 2016
  • Quality
    Editor: 75%
  • Customer Support
    Editor: 80%
  • Pricing & Fees
    Editor: 80%

Review Summary:

Gainesville Coins, LLC is an authorized distributor of precious metals for major mints. As an industry leading dealer, this company sells several types of precious metals, including gold, silver, platinum, palladium, and copper. They're a member of a number of prominent organizations, including the Industry Council for Tangible Assets (ICTA), Certified Coin Exchange, American Numismatic Association, and Coin Net.

Gainesville Coins, LLC is an authorized distributor of precious metals for major mints. As an industry leading dealer, this company sells several types of precious metals, including gold, silver, platinum, palladium, and copper. They're a member of a number of prominent organizations, including the Industry Council for Tangible Assets (ICTA), Certified Coin Exchange, American Numismatic Association, and Coin Net.

Editor rating
Rated 3 stars
User rating
Rated 0 stars
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