Eastern Numismatics Review

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Across the world, more and more people are turning to invest in precious metals since they offer a stable investment option compared to options that are backed by paper currency.

As it is, many people feel that paper currency investments are not worth it especially given the dire forecasts that have been given by financial experts across the globe on the fate of fiat currencies.

When choosing an investment vehicle for your hard-earned assets and savings, it is important to find a reputable and trustworthy company.

Are you wondering whether you should invest in precious metals through Eastern Numismatics? Read the review below to find out what this precious metals investing company is all about.

Before we get started with this review:

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Background of Eastern Numismatics

eastern numismatics homepage

Eastern Numismatics is a family-run company that was established in 1974. Its headquarters are in Garden City – NY but it also has offices in Sarasota, FL.

As one of the premier gold bullion and rare coin dealers in the nation, the company has a huge client base with well over 50,000 customers.

The company has over 50 staff who are highly knowledgeable on different types of coins, from bullion, and modern commemorative coins to ancient coins.

Whether you are a newbie investor or an experienced investor in the precious metal coins market, the company can provide coins of exceptional quality and outstanding customer service while at it.

The efforts by Eastern Numismatics to enhance the quality of products and services they offer have led them to create an extensive and impressive inventory that is designed to meet the unique needs of their clients.

The company has been trading since 1974, and over the years, they have gained membership in all major consumer and professional bodies such as the Better Business Bureau (BBB), the American Numismatic Association, and the Professional Numismatists Guild.

Investing in Precious Metals IRAs Through Eastern Numismatics

The Tax Payer Relief Act of 1997 allowed investors to add precious metals such as gold into their retirement saving portfolio.

If you are interested in investing your IRA savings into precious metals, Eastern Numismatics may be able to help.

To learn more about the process of converting your conventional IRA into a precious metals IRA or if you have any queries on gold IRAs, call Eastern Numismatics to speak to a highly trained and experienced sales representative.

What Exactly is a Precious Metals IRA?

A precious metals IRA such as a gold individual retirement account is a type of self-directed retirement account that allows you to invest your savings in precious metals such as gold.

This IRA is akin to a conventional IRA, 401(k), or any other retirement account that has tax advantages in most aspects with the main difference being that a precious metals IRA allow you to invest in gold, silver, and other precious metals. 

cartoon of woman looking at taxes and a calculator

A gold IRA allows you to own physical precious metals bullion as part of your retirement savings portfolio. 

These IRA accounts are usually opened with the assistance of an IRS-approved gold custodian who is willing to offer storage for the investor’s precious metals. In these IRAs, you can own precious metals in the form of rounds, bullion, and/or coins.

With a gold IRA, you can diversify your investment portfolio while also hedging your savings from market instability and inflation.

A gold IRA custodian will help you in opening an account, managing it, and, storing your precious metals reserves in an insured and secure vault.

Simply put, a precious metals or gold IRA usually allows an investor to own physical gold or other types of precious metals as part of their retirement savings account portfolio.

What is a Precious Metals IRA Rollover?

four gold coins

A gold IRA rollover refers to the process of transferring funds from a 401(k) account or conventional IRA account into a self-directed IRA managed by a new provider.

The goal of the rollover process is usually to open up a new IRA account with an approved custodian who offers better investment options and lower fees than your current IRA account custodian.

When rolling over your IRA account, you can either transfer part or all of your entire old IRA portfolio.

Simply put, a gold IRA rollover is an investment option that allows you to transfer your existing 401(k) or traditional IRA into a self-directed IRA account.

This means that you can invest your money in physical gold, silver, or other precious metals without going into the stock market.

The reason why many investors consider rolling over their existing IRAs into gold IRAs is that precious metals offer more reliability and flexibility compared to other forms of investment that are backed by paper currency.

What is a Precious Metals IRA Custodian?

A gold IRA custodian is a company that offers self-direct IRAs that permit a person to invest in alternative assets including physical precious metals reserves which are then stored by a non-bank trustee that must be approved by the IRS.

Gold IRA custodians permit investors to invest in precious metals such as gold, silver, palladium, and platinum – as long as the precious metals meet the minimum approved purity standards.

Eastern Numismatics usually work with most authorized and approved custodians who offer safe and secure storage vaults but they only strongly that investors deal with the custodians at New Direction IRA and Gold Star Trust Company.

New Direction IRA is a reliable and trustworthy IRA custodian that offers record keeping services for different IRA accounts as well as investor education.

Over the years, the custodian has helped numerous investors take better control over their retirement savings by offering alternate investment options that are tailored to suit the individual investment goals and investment style of each investor.

The Gold Star Trust Company is one of the premier custodians of Gold IRAs in the nation. The company prides itself on its easy process of opening a new IRA account and exceptional customer service.

The custodian offers IRA accounts that can hold palladium, platinum, silver, and/or gold – as long as these metals meet the required purity standards.

Eastern Numismatics Offers Precious Metals Appraisal Services

An appraiser is a trained expert who develops and reports an opinion on the value of a specific type of item.

While some appraisers focus on the valuation of a specific type of item, it is important to note that there are some with more than the area of practice who can value items such as rare coins, currency, fine art, antiques, and vintage collectibles.

For example, there are personal property appraisers who can determine the value of any type of property.

Eastern Numismatics offers appraisal services for different types of precious metals in various forms.

Eastern Numismatics Offers Auction Services

If you are looking to sell your precious metal reserves, Eastern Numismatics is well poised to help you secure favorable terms from top-tier auctioneers.

Alternatively, the company can also auction your coins through their website where over 2,000 items are put up for sale each day.

To learn more about auctioning your precious metals, call Eastern Numismatics today to speak to one of their sales representatives.

Guide on How to Open a Precious Metals IRA Account

  • Open Your Self-Directed IRA Account

The first step toward investing in a precious metals IRA is to open a self-directed account where you will allocate money to fund your investment.

The precious metals dealers at Eastern Numismatics will help you understand how self-directed IRAs work. Further, they will also provide many options of IRA-approved precious metals that you can invest in to diversify your portfolio.

  • Fund Your Account

To protect your retirement savings through a precious metals IRA, you first have to fund the self-directed IRA account held by a custodian in your name with money from qualified sources such as your 401(k) account, annuities, and 457(k).

Note that you will have complete autonomy over the control of your precious metals IRA account.

  • Buy Approved Gold, Silver, or Other Precious Metals

Once you are done with the two steps above, all you need to do is to buy precious metals for your new IRA account.

By talking to knowledgeable and dedicated account representatives at Eastern Numismatics, you will get to learn which precious metals coins or bars are performing best in the market.

Further, you will also be advised on other lesser-known precious metals that you can invest in such as palladium and platinum.

What is the Difference Between 401k Rollovers and IRA Transfers?

A 401(k) rollover refers to the process of funding an IRA account from an employer-sponsored retirement account. For example, an employer-sponsored 401(k) account can be rolled over into any type of IRA. Note that all rollovers are exempt from taxation.

An IRA transfer is the process of funding a new IRA account with the assets in an existing IRA account. Note that all transfers are exempt from taxation.

Key Things to Know About IRA Account Withdrawals

Any withdrawal from an IRA account that happens before the account holder reaches the age of 59.5 years is considered an early withdrawal. Early withdrawals are subject to a 10% penalty fee, custodian fees, and the applicable taxes.

Any withdrawals that are made after the account holder reaches 59.5 years are considered normal withdrawals.

Every year after an IRA account holder reaches 70 years of age, they must withdraw a minimum amount from their IRA account. This applies to every other year after that.

Withdrawals from a Precious Metals IRA Account

When you reach the minimum withdrawal age of 70, you can either withdraw physical precious metals reserves or liquidate them into cash. This is a personal decision that will depend on your financial needs.

If you are in financial constraints, it may be a good idea to liquidate your precious metal reserves into cash. Alternatively, you can choose to get your reserves shipped directly to your address.

Advantages of Investing in Gold

  • It is a Reliable and Solid Investment Option

Time has proven that gold is a solid and safe investment option. Unlike other investment options, gold is usually able to weather through market instabilities and inflation.

  • You Can Use Gold as a Medium of Exchange

For millenniums, gold has been used as a medium of exchange. Though most of the world currently relies on paper-based currencies for transactions, there are many Governments, institutions, and individuals who still make transactions through gold.

Gold has proven that it can hold its own compared to paper-based currencies which are regulated by governments. Further, it has also proved to be the most exchangeable precious metal compared to other valuable metals and cryptocurrencies.

  • Gold is Durable

Gold has proven that is the most ideal way to secure your savings and assets since it represents a value that is known and trusted by all people across the world.

Gold is tangible, recognizable, durable, and highly tradable across the globe. From the times of the Roman Empire, the frontiers, and the markets in the Middle East, to date, gold has proven that it is the most honored and consistent medium of value exchange.

  • Investing in Gold Offers You Financial Freedom and Security

With gold, you can conduct financial transactions outside banking institutions anywhere in the world.

Since it is not regulated by any one Government, the value of gold tends to rise when governments or paper-based currencies falter.

Is Eastern Numismatics a Scam?

No, Eastern Numismatics is not a scam, they are a legitimate and reputable precious metals trading company that has been in operation for many years.

Further, the products offered by the company are also legit. The company’s membership in different professional organizations and bodies just goes to show that they run a legitimate operation.


Eastern Numismatics Inc. is a company that deals in rare coins and different precious metals such as gold, silver, palladium, and gold.

They offer precious metals in the form of coins and bars. Founded in 1974, the company offers great deals to customers which is perhaps one of the reasons its customer base has expanded to over 50,000 clients.


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