Modern Coin Mart has been a longstanding figure in the sales of precious metals and graded coins online. They use their website; ModernCoinMart.com to sell a wide selection of gold, silver and platinum bullion as well as graded coins from both the US and foreign countries. Additionally, the company has a large presence on eBay. In fact, if you have ever searched for a coin or bullion product on eBay you have most likely seen their infamous logo many times while browsing.
From the research we’ve done and comparing their prices to that of their competitors, MCM seems to have slightly higher prices on bullion bars and coins whereas their graded and rare coins seem to be priced very competitively. At the time of this review, their lowest price on a BU Silver Eagle bullion coin was $3.47 over spot and the highest, 1-4 quantity credit card price was $6.91 over spot. We also took a look at their larger sized bullion bars (i.e 10 and 100 oz) and their prices seem to be fair.
Modern Coin Mart Certified Coin Pricing
When glancing over their website, you will notice they carry a very large selection of NGC and PCGS certified coins. This mostly consists of modern era bullion coins such as the American Silver Eagle, Chinese Pandas and Canadian Silver Coins as well as commemorative coins. On these types of coins their pricing is very much in line with others in the industry.
MCM’s website; ModernCoinMart.com is very straightforward featuring sections for bullion, US Coins and World Coins. Their bullion categories are then broken down further by metal composition (i.e. gold, silver, platinum). From there you can select categories based on the type of bullion you are looking for; rounds, bars or coins. At this stage they also offer filters where you can search for items based on price range, mint, weight and purity.
Modern Coin Mart’s selection of both bullion and coins are vast. They offer precious metal products manufactured by most of the major mints and refineries. In terms of bullion, their selection is kept somewhat limited with major brands like Johnson Matthey, Sunshine Mint, Highland Mint, NTR Metals, Geiger Edelmetalle and they even produce their own brand of bars.
In terms of NGC & PCGS certified gold and silver coins their selection is very large. They offer mainly modern issue coins generally containing Mint State and Proof grades. They list popular graded coins like Silver American Eagles and also more rare commemorative pieces like the 2001 Buffalo Silver Dollar PR69 DCAM.
Payment Methods and Shipping Policies
This dealer offers free shipping on most orders (with the exception of USPS Express Mail) which includes any order going to the United States. They accept payments via PayPal, credit/debit cards, wire transfers, checks and money orders. Below are the requirements and min/max order sizes for each option.
- PayPal – No listed stipulations or Min/max
- Credit Card – This includes debit cards. American Express is not accepted. No min/max order size listed.
- Wire Transfer – When paying by bank wire transfer, there is a $1,000 minimum. You must also pay for 10% of the order upfront with a card to lock your price in which is not refundable. They have to receive payment within 2 business days of the original order. They don’t list a maximum order size on their website.
- Checks and Money Orders – If you choose to pay with a check or money order, their minimum is $300. You must also pay for 10% of the order upfront to lock in the price. This is non-refundable. Something to note is that when using this method, orders are held for up to two weeks before being shipped.
Listed below are their shipping rates:
|Order Total||Shipping Method||Cost|
|Less than $250||USPS First Class Mail||FREE!|
|$250-$1,499.99||USPS Priority Mail||FREE!|
|$1,500 or more||USPS Registered Mail||FREE!|
|Any value up to $15,000||* USPS Express Mail||$39|
MCM Customer Service
One thing that stood out in our minds was the fact that compared to other online PM dealers, who are often available Mon-Fri, Modern Coin Mart’s staff is available every day of the week. They can be reached Mon-Fri 7:30AM-5:15PM as well as Saturday and Sunday 11AM-4PM.
Modern Coin Mart BBB Reviews and Complaints Overview
Modern Coin Mart has been accredited with the Better Business Bureau since October of 2007; three years after the business was started. Over the past three years they haven’t had any complaints filed against them which is rather impressive. They have an A+ rating and also there are no known government actions filed against them. To us this is usually a good indicator of their legitimacy, reputation and how their customer service operates. They also lack any major complaints elsewhere online and have had many positive customer reviews.
Modern Coin Mart eBay Store Feedback Review
Modern Coin Mart has a fairly widespread presence in the sale of coins and bullion on eBay. Over the past 12 months they have completed approximately 163,000 listings on the popular auction site. Out of these orders they have received a total of 119 neutral ratings which is the equivalent to about .07% of eBay customers. This means they have over a 99.9% customer satisfaction rate on eBay which is very good.