Wholesale Coins Direct Review

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Wholesale Coins Direct belongs to the US Gold Bureau company family. Their primary mission is to provide bullion and numismatic coins to the broad public.

The original company behind the name was founded in 2003. Ownership changed hands in 2008, and they have stayed with the company since then. As a result of their experience, the owners have extensive industry connections.

If you want to purchase precious metals, there are many options out there, but which one is the best?

Let's take a closer look at what this company offers and whether they are trustworthy.

Before we get started with this review:

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What is Wholesale Coins Direct?

wholesale coins direct homepage

Wholesale Coins Direct's history started in 2003, and it gained new owners in 2008. Lone Star Tangible Assets, their parent company, was selected by the state of Texas. Texas wanted them to build, operate, and maintain the Texas Bullion Depository.

Consequently, Wholesale Coins can offer great rates at a secure storage facility. In 2021, US Gold Bureau merged with Wholesale Coins Direct. This company is officially registered as a precious metals dealer in Texas.

Educational Materials

Wholesale Coins Direct wants to make sure that its customer base is fully informed. If you do not know anything about precious metals investing, they provide education. You can read through their free guide to investing in this market.

On the other hand, they also wrote several guides that go over the history of various coins.  Investors can also keep up with the latest news on their webpage, and they can research storage.

If you want to perform some research on your portfolio allocation, they offer tools to help. Readers can figure out how much of their net worth to put into precious metals here.

Selling to Wholesale Coins Direct

Sellers can offload their coins to this company as long as they follow its guidelines. You must have a bank account and routing number, and you need a government-issued ID.

They require a photo of your shipment for verification purposes, and you must pack it as you want.  You can browse their listings of coins and find the one you have online. If you cannot find the item you want to sell on their site, you can give them a call.

However, they do not purchase scrap metal or jewelry. To qualify, sellers must give them at least $1,000 worth of metal. The upper limit that you can move at once is $75,000. Once you figure out what you want to sell, they create a shipping label for you.

This action locks in the price they will buy your stuff at, eliminating variations. If you are near their headquarters in Leander, TX, you can drop off the coins in person. It should only take two or three days to receive the funds in your account.

After they receive the coins you shipped, they will remit payment immediately.

What Products Does Wholesale Coins Direct Sell?

four gold coins
  • 2022 Gold Kangaroo  

This coin was made in 2022 using 31.1 grams of 0.9999 fine gold. Initially, this coin entered public circulation in 1990, and its image changed yearly. 

Each time they update the picture, they add a new kangaroo to the front of it. The Perth Mint guarantees the purity of these coins, and they have a $100 face value.

  • 2023 Gold American Eagle Coin

The Gold American Eagle Coin was authorized by the Gold Bullion Coin Act of 1985. Since the legislation's passage, the government has guaranteed its weight and purity. The gold used to create these coins must be sourced from the United States.

Furthermore, the mint has to alloy it with silver and copper to create a more durable coin. The Lady Liberty design on the coin's obverse is based on the work by Saint-Gauden.

  • 2023 Gold Rabbit Coin - Perth Lunar Series

At the Perth Mint, they developed this coin to celebrate the Chinese year of the Rabbit. Since this is the fourth of twelve animals in the Chinese Year, it is a big deal. The rabbit's mercy, beauty, and elegance make it the luckiest.

If you are born during a rabbit year, it is said that you will be intelligent and creative. On the obverse, there is a picture of the likeness of Queen Elizabeth II.

  • 2023 Gold Tudor Beasts Yale of Beaufort Coin

The British Royal Mint concocted this idea in 2016, and they minted it until 2021. Each iteration featured different beasts from the Royal Arms. The newest version of this coin focuses on the Tudor Dynasty from the late 15th century.

It carries a face value of 100 pounds sterling and contains 0.9999 purity gold. If you run your thumb along the coin's rim, you will also notice a serrated edge.

Is Wholesale Coins Direct a Scam?

No, Wholesale Coins Direct is not a scam, they are a legit company.  Looking at the Better Business Bureau, you will see a B- rating. The BBB does not accredit wholesale Coins, and they have a 5-star customer rating on their site.

According to the BBB, the company has been doing business for over a decade online and in person. The company has received nine complaints in the previous three years.

One customer complained they never received their products in March of 2022. They claim that they gave the company their credit card info to make a purchase. Then, Wholesale Coins supposedly did not ship out their items for several days.

When the customer called back, the cost of the items they bought had increased by almost double. The company had not responded to this customer's complaint at the time of this review. 

Another customer complained about the sales process when trying to offload some coins. They sent the coins to Wholesale Coins and did not receive payment for days.

The customer claims a specialist told them the coins were sold 12 days ago without payment. Each time the customer calls, they speak with different people, and nobody helps. They were not happy with the 18% fee for selling to the company, either.

The company responded to this customer and said the payment was completed. According to their statement, it was finalized within a normal timeframe. The customer's payment was sent to the account they had on file within seven to 10 business days.

A third complaint was registered by a customer who spent over $45,000 on products and did not receive them. The customer got a tracking email on the fifth of May in 2021.

When they checked the shipping label's info, FedEx stated they only had a label and no items. The customer spoke to Wholesale Coins Direct and was given a promise that it was overnighted.

However, they spoke to FedEx again, and they had not received anything. After three days, they had still not received a package, and they requested a full refund.

Fortunately, there was a response to this complaint by the company. Wholesale Coins Direct apologized to the customer for wasting their time. Then, they issued a full refund for the initial purchase amount of $45,445.36.

Wholesale Coins Direct Blog

Reading the blog hosted by Wholesale Coins Direct can give you some insight into gold and silver. They discuss various topics, including why you should invest in a precious metals IRA.

If you want to learn about palladium, they recently released an article about it. Investors can read about the CPI numbers and what they mean. Plus, you can check out some of their coin reviews to see collectors' items.

Wholesale Coins Direct Buy-Back Guarantee

Wholesale Coins has committed to its customers. They want to provide access to the best precious metals products available. Once an investor is ready to cash out of their product, they are ready to help too.

For this reason, they offer a buy-back guarantee to their customers.  If you purchased metals from them, you are promised three ways to sell. You can list your coins on the open market.

Sellers can list them via consignment, or they can take an immediate liquidation.

  • Open Market Sale

To achieve the highest price, you can sell the metals yourself. Since you control the listing price, you can decide what is feasible. Even though this option gives you the highest price, it does require more effort.

No minimum hold is required, but you should account for the fees.

  • Consignment Sale

Choosing the consignment route often gives you a higher payout. If you add your coins to their program, the company will see them on the market through their trading floor. You will be paid according to the current market price minus an 18% fee.

  • Immediate Liquidation Sale

If you own bullion metals, this is the best option for them. Wholesale Direct Coins will re-purchase your bullion metal at the current bid price.

Plus, they do not charge any fees for this service, but you pay for shipping. Insurance fees on the shipment are also your responsibility.

The Bottom Line

Wholesale Coins Direct has over a decade of experience in the industry, and they are still strong. Customers can educate themselves with the free resources on their website.

Plus, you can place an order using cash and take physical possession of the coins. The company has a buy-back program if you want to cash out your investment.

You can send your coins to them, and they will wire a payment back to you. The company has a good track record, quality service, and a wide product selection.

You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:

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