Welcome to my "American Mint Review"!
When you set your eyes on new investments, one of the first things you need to consider is its legitimacy. You need to make sure that all of your fortune and assets are in good hands.
With that being said, it is imperative that you make your research before making any decisions. One of the best ways to do that is to check out the ratings and reviews of these investments.
In this article, we will be talking about the American Mint.
Judging by its name, it sounds legit, as if it is the official mint of the United States of America, right?
Well, strap in because you are about to find out the truth!
American Mint Review Quick Summary
Name: American Mint
Founder: Not disclosed
What is American Mint?
American Mint is a provider and seller of high-quality coins and collectibles. It is an international direct mail marketer that is based near historic Harrisburg, Pennsylvania.
It claims that it has over 30 years of experience in providing products and services to both beginner and professional collectors.
In YourGoldIRAGuide.com it is a must to always check whether an investment or a company provides any kind of information regarding its founder/s or owner/s.
This is because most of the scams that have been exposed never revealed their founders. American Mint's website does not have any information about its founder.
Other authority review websites also do not have any information regarding this.
Now, does this mean that American Mint is a scam? Well, let's not jump to conclusions first. Let us investigate more.
American Mint's Actual Owner
I did more research into the company. Although the website and other authoritative review sites such as BBB did not know who the actual owner of the company is, I found a source that revealed it and it is very shocking.
First and foremost, the source is a legal case text that was published in January 6, 2006. Apparently, as early as 2006, American Mint already received a case!
This was the American Mint Llc. v. Gosoftware, Inc. and it is stated in the text that the company is owned by GOEDE BETEILIGUNGSGESELLSCHAFT and MICHAEL GOEDE,
The case text gave a comprehensive description of what American Mint is. According to the text, Goede is in the business of manufacturing collectible coins and its principal business place is located in Germany.
American Mint is a limited liability company that falls under the laws of the Commonwealth of Pennsylvania. Moreover, it is owned by Goede and it its merchandise marketer in the United States.
The case is quite long and if you are interested in knowing more about it, click here.
American Mint Products and Services
According to the American Mint website, it has 8 product categories which are the following:
- Gold Coins
- Silver Coins
- Platinum Coins
- U.S. Currency
- Commemorative Coins
- Rare and Unique Coins
Based on the categories, American Mint offers a large variety of products to its customers. That is why it claims to be a partner with several collectors around the world.
In Your Gold IRA Guide, if a company or a business offer real products, it is a huge plus for them. There have been scams in the past where in they claim to offer products, when in fact, they don't.
Furthermore, the American Mint website does reveal the prices of each product it sells, which is another plus.
Apart from its products, there are 3 advantages that American Mint offers its customers. With over 30 years of being in the industry, American Mint has become known to various collectors, as well as trade partners.
Moreover, it offers a 90-day return policy in case the customers are not pleased with the products that they received from American Mint.
Lastly, if customers make purchases that are over $150, they can enjoy the free shipping and handling.
As of now, American Mint may sound like a good opportunity for you to build your investments. However, there are things that you still need to know. Let's continue.
How to Get Started with American Mint?
American Mint's website also serves as its e-commerce service where customers can order their products online.
They must create an account in American Mint first, to be able to add items to their cart. This is very similar to other e-commerce websites out there.
For the payment options, American Mint accepts several of them, including the following:
- American Express
- Check/Money Order
Rates and Taxes
For all of the online orders, American Mint charges a flat rate of $6.95 for the shipping and handling.
Moreover, orders that cost less than $250 will be shipped via U.S. Postal Service, while orders costing more than $250, will be shipped via Fed Ex.
Furthermore, American Mint offers a free shipping and handling for orders over $150.
Alternative? I would recommend Goldco for you!
American Mint Ratings and Reviews
This part is where everything gets juicy because American Mint did receive quite a lot of negative reviews. Let's get over each of them. Here are the ratings of American Mint from various review sites.
- Consumer Affairs - 1.4 out of 5 rating based on 130 reviews
- Trustpilot - 3.2 out of 5 rating based on 792 reviews
- Complaints Board - 1 out of 5 rating based on 45 complaints
- Scampulse - 6 reviews and ratings
- Glassdoor - 2.8 out of 5 rating based on 14 reviews
- RevDex - 1 out of 5 rating based on 364 reviews
- BBB - 1 out of 5 rating based on 12 reviews, not BBB accredited
As you can see, American Mint received an alarming number of complaints and a very low rating from these websites. Moreover, in the Better Business Bureau, which is a reputable consumer protector, American Mint has a low rating.
Most of the good investment opportunities and companies have very good ratings from BBB.
And here is the nail in the coffin.
On May 5, 2021, the Pennsylvania Attorney General’s Bureau of Consumer Protection (BCP) filed a lawsuit against American Mint due to the alleged violation of the Pennsylvania Unfair Trade Practices and Consumer Protection Law.
This lawsuit accuses American Mint in engaging unfair, fraudulent, and/or deceptive business practices because it failed to disclose the terms and conditions of its negative option features.
Moreover, it did not get its customers' informed consent in enrolling in a continuous sales program.
Basically, American Mint encourages its customers to receive a free or introductory offers and will then send items that were not ordered in the first place. That is why a lot of customers have this complaint.
Apart from this, American Mint always claim that they are selling "rare" coins and collectibles. It is somewhat their trademark.
However, customers have found that these products are apparently duplicates that are sourced from China!
Furthermore, when collectors receive these rare collectibles, a Certificate of Authenticity goes with these items. However, the certificate that is provided by American Mint contains typos.
The image above is from a user named AnorhiDemarche in Reddit who shared about this typo in the Certificate of Authenticity from American Mint!
Based on these complaints about American Mint, do you actually think that it is worth trusting your investments with them? I don't think so!
American Mint Pros and Cons
- Has an e-commerce website
- Accepts several payment methods
- Does not disclose information on the owner
- Received a lot of complaints
- Negative ratings
- Has a lawsuit due to fraudulent practices
Is American Mint a scam?
To conclude this American Mint Review, let's answer this question! The evidence we have discovered about this company is more than enough to say that it is a scam.
It even received lawsuits right? Although they do provide real items, they still practiced fraudulent methods. They do not get the consent from their clients to be enrolled in a program and sends random items to them, and charging them for it.
Moreover, they claim that their products are "rare" when they are just duplicates from China! You will be spending hundreds of dollars for these coins and collectibles that are not even the real deal.
With that, let us save time and just stay away from American Mint. Moreover, let us not confuse it with the U.S. Mint, which is the actual bureau of the Department of the Treasury that produces coins.
Moreover, it is not among the authorized U.S. Mint dealers.
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Thank you so much for reading my American Mint Review! If you have any comments or questions, feel free to leave them in the comments section.