Founded in the year 1989, Austin Rare Coins & Bullion has been doing business for more than 25 years. Based out of Austin, Texas, the company is a member of several trade organizations and boards, including the BBB Online Reliability Seal Program. The other institutions include Numismatic Guaranty Corp., Industry Council for Tangible Assets, and Professional Coin Grading Service. A majority of the company’s stockholders also have membership in several American and Canada-based numismatic associations
Better Business Bureau
Austin Rare Coins has stayed a BBB-accredited business ever since April 23, 2009. The third-party rating company ascertains Austin Rare Coins meets accreditation standards, which comprises a genuine commitment to resolve consumer grievances, if any.The final outcome, Austin Rare Coins gets an A+ rating from BBB.
The establishment has had two consumer complaints (1 related to its product and the other is delivery-related) reported against it with BBB in the past, which have been successfully resolved ever since.
Business Consumer Alliance
Austin Rare Coins has a BCA rating of AAA. This rating is based on the company’s business type, industry experience and knowledge, complaint history, licensing compliance, and the stakeholders’ overall experience with the firm. As far as complaints go, BCA hasn’t received any so far against the firm. However, it’s worth noting that BCA has not highlighted any positive aspect about Austin Rare Coins either.
The company has a fairly good reputation online. But when I tried looking up the site’s credentials on TrustLink, there’s no rating as such despite the business being listed on the site. This absence is a bit confusing, especially considering the fact that Austin Rare Coins has been around for quite long.
On Citysearch the company has no rating at all though it has a mix of positive and negative reviews . I read these reviews and found that they were five positive against five negative.
on yelp, the company has a mix of both negative and positive reviews. Some customers were very pleased to deal with the company, while others looked really angry and reported that A.R.C’s customer service was totally unprofessional.The final score on yelp is three out of five stars.
This website is like a forum where gold buyers comment about their past purchasing experience from gold dealers around the U.S. And A.R.C did not merit much appraisal from various customers there, the final score they got as of now is 2.9 out of five stars.
How the Rollover works with Austin Rare Coins ?
Austin Rare Coins is not a specialised company in IRA rollovers, if you’d like to do business with them, you will be prompted to call SDIRA Services Company, their recommended IRA custodian and inform them that you have been referred by Austin Rare Coins.
After you rollover your funds from your current IRA to SDIRA Services, you then will need to contact Austin Rare Coins and discuss the type of metals you’d like to fund your account with.
This is pretty annoying knowing that this process takes time and a lot of paperwork from your side to provide.
Austin Rare Coins under the Radar
To tell you the truth, I did not much appreciate this phone interview, and it’s my own point of view. In fact, I don’t want to say anything bad about their sales representative, but his answers to us were very limited and he lacked the friendly tone we experienced with other companies, I also didn’t like the fact that his answers were pretty unclear about the storage and administration fees. All in all, this is my personal feel and here is a quick summary of this call. process.
Here are more details from this call:
What are the tax penalties involved in rolling this over?
When dealing with SDIRA Services, you will need to ask about tax issues, and I think this company is a renowned IRA custodian which deals in this kind of operations on a daily basis, so you won’t have any troubles with tax issues, but you certainly have to do your due diligence and ask them this vital question.
What’s the setup fee?
A couple of hundred bucks, it’s not that expensive as their agent said.
Is there any other fee, I mean is that a flat fee?
Everything is included in one fee.
About the storage?
They ship your metals to the delaware depositoryIt’s a segregated account in your name.
The storage fees as their agent said shouldn’t cost anymore than a hundred bucks.
But if you go beyond a 100.000 dollars of investment, the fee will go up to two hundred.
Is there any kind of ongoing support?
You can expect customer support from their part as the agent replied.
Is there any way to track my metals online?
Yes, they will set it up for you.
My Final Thoughts on Austin Rare Coins
My final judgement is that I would not recommend Austin Coins for Gold IRA Rollovers, as this is not their prime speciality, there are various companies whose main focus is to help you put your hard earned savings in an IRA account backed with precious metals, and avoid you the hassles of dealing directly with an IRA custodian. However, if you reside in Texas and would like to purchase from a local dealer there, then Austin Coins is just a great option.
And again, I recommend you browse other top rated Gold IRA companies we feature on our website and spend sometime looking for the best fit for your retirement investment.
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