American Rarities Review 2023: Are They Legit? (Truth)

Hi there, Welcome to my American Rarities review!

It should not come as a complete surprise that the current economic conditions are causing some to rethink how they should live their lives. In other words, they are wondering about what they should keep and what they should not keep.

Precious Metals investments, a long valued form of storing wealth, involves buying and holding precious metals such as gold, silver, platinum, and others. Investors can choose to hold physical bullion such as bars and coins, or open an IRA account.

Perhaps you are one of those people, thinking about purchasing some of your coin or bars to diversify your portfolio. Now, maybe you have even heard of a company by the name of American Rarities and are wondering if they are worth investing for.

In this American Rarities review, we will dive in to know whether they are the right company for you. Are they legit? How great is their support? Can they lend you a hand? Let's start, shall we?

American Rarities Review Quick Summary

What is American Rarities?

American Rarities is a precious metal company that specializes in buying and selling rare coins, bullion, and paper currency. Apart from this, the company is well known for its excellent appraisal services.

The company has built a strong reputation in the precious metal industry. In 2013, they had a historic sale of one of the most famous and important coins in the world. American Rarities sold the 1933 Double Eagle, for $7.5 million, a record price at that time.

Some other notable coins they have sold are the 1913 Liberty Head nickel and the 1907-S V nickel. With these, they are featured in several top publications such as Forbes, The New York Times, and The Wall Street Journal.

American Rarities is a member of the American Numismatic Association (ANA) and the Professional Numismatists Guild (PNG). If you are considering selling your rare coin collections, American Rarities is a go to if you want the best value for your coins.

Where Is American Rarities Located?

American Rarities headquarter is located in Boulder, Colorado. This same office is where the management and executive team is located. This is also where the company operates their coin grading and appraisal services.

Aside from this, they have other offices in Los Angeles and New York. You can make orders, sell your coins, and make all of your queries regarding precious metals and rare coins.

American Rarities Products

Since American Rarities specializes in rare coins and paper currencies, their precious metal products isn't that wide. They are limited to gold and silver bullion, and rare products of such.

If you want a precious metal company that offers an extensive product list, you should take a look at Goldco. This company is one of the best in the industry. You can enjoy high-quality products and excellent services from them.

The following below is a summary list of the products that American Rarities offer, as displayed on their website:

• Bullion: American Rarities offers gold, silver, and platinum bars and ingots. They do also buy and sell bullion. These include Canada Gold Maple Leaf, American Eagle Gold, American Eagle Silver, American Eagle Platinum, Chinese Gold Panda and Silver Panda, and many others.
• United States Rare Gold Coins: The Gold rarities they offer include Double Eagles, 12 Caesars Gold, Greek & Roman Gold, Territorial Gold, Civil War Gold, and Pre-1933 Gold.
• United States Rare Silver Coins: They also have rare silver coins such as Morgan Silver Dollars, Carson City Morgans, Morgan Sets, SS Republic Half Dollars, and Silver Specials.
• Other Rarities: the other rarieties they offer include the Finest Known, Legacy Rarities, Patterns & Medals, U.S. Coinage, Carson City Coinage, and Ancient Coins.

Does American Rarities Offer IRA?

Unfortunately, American Rarities does not offer Individual Retirement Accounts directly. However, they do work and partner with qualified IRA custodians who can help you set up an IRA account.

The company does have IRA-eligible products to offer. Their gold, silver, and platinum coins and bullions meet the 99.5% pure requirement for precious metals.

If you want a company that has IRA-eligible products, and at the same time is also an IRA custodian, then you should take a look at our best suggested company, Goldco.

American Rarities Appraisal

The company has a unique service that most precious metal companies do not have, and that is their free appraisal services. Basically, American Rarities'  expert team of numismatists inspect your rare coins and bullions to determine its value.

The value still of course largely depends on the current market prices of precious metals, but they also factor in the rarity of the coin, condition of the coin, and demand for the coin. The appraisal will be given to you in a written detailed description of your product.

To avail their appraisal services, you just need to take clear and good quality pictures of your coin, and then submit it to their email. 

American Rarities Prices and Fees

The company is famous and has built an excellent reputation in the precious metal industry for specializing in rare coins and bullion. Their prices are competitive with the market, and typically are in range with other companies.

However, there are reports that says the prices can be much expensive than others, especially their gold and silver bars. The following below are the prices shown in their website as of July 07 2023:

• 1oz. American Gold Eagle:  Currently priced at $1,855.60.
• 1oz. American Silver Eagle: Currently priced at $22.47.
• Morgan Silver Dollar (1878-1904): Prices range from $200 to $10,000+, depending on the condition and rarity of the coin.
• Peace Silver Dollar (1921-1935): Prices range from $500 to $5,000+, depending on the condition and rarity of the coin.
• Double Eagle (1849-1933): Prices range from $10,000 to $1,000,000+, depending on the condition and rarity of the coin.

Does American Rarities Have Buyback?

According to American Rarities' website, they do not currently offer a buyback program. However, they may be willing to buy back certain items on a case-by-case basis. To inquire about a buyback, you can contact them through their website or by phone.

However, they do offer a consignment program, which allows you to sell your coins and other collectibles through them. If you are interested in selling your coins to American Rarities, you can contact them for more information.

Shipping Services

American Rarities offer shipping services. Customers can either choose insured and uninsured shipping methods. The shipping costs for shipping depends on the weight, size, and destination of the package.

Basically, for insured shipping fee, American Rarities will use a third-party shipping company. On the other hand, for uninsured shipping, the company will be the one to ship your products in a secure package. The products are not insured, but the company will reimburse you if there are damages to it or if it is lost.

Storage Services

Unfortunately, American Rarities do not have storage services for their customers. If you decide to buy rare coins from the company, you will have to find 3rd-party storage providers. Moreover, American Rarities does guide and help you find one.

Or, you can also opt to home-storage of your precious metals. But, you have to make sure that your gold is stored in the safest and secure location that is also safe. In addition, you will need to know the rules of it.

Educational Services

American Rarities do have educational resources that are free to use. Their website contains information sections in which you can read articles, blogs, and FAQ's to help you learn more about precious metal investments.

American Rarities Loan Services

Interestingly, American Rarities has loan services to their customers. They offer collateralized loans from $5000 to $50000, depending on the value of your product. This means that you can borrow cash and use your rare coins or precious metal bullion as collateral to secure the loan.  

The loan can be paid monthly or structured in two to three month intervals. The good thing is, American Rarities allow you to not give any payments for the first 60 days since the loan. They offer great interest rates, even can be as low as 1%.

If you default on the loan, they will take your precious metals in return. Also, while the loan is in effect, they will store your items in private bank vaults and fully insure it for further protection.

American Rarities Coin Grading

Just like its appraisal services, American Rarities also offers coin grading services. Authenticating and coin grading can be difficult and it also costs additional expenses if you submit your precious metal to a grading firm.

At American Rarities, they offer it for free. There are lots of fake and counterfeit coins, especially claiming to be rare ones. The company will ensure whether your coin indeed legitimate. In addition, they will also grade your coin via its value, and even identify its variety or whether it is an error coin.

To avail their coin grading services, you just need to take clear and good quality pictures of your coin, and then submit it to their email. 

American Rarities Customer Service

The company has a variety of customer service features. Although it seems that their website is outdated and not that developed compared to other precious metal companies like Goldco.

American Rarities have a contact form in their website. You can reach out to them by supplying your information and your concern. Also, you can reach out to them via email, text, or call. All of the contact number can be seen in their website.

Since there is no live-chat feature, they really make it up with their extensive FAQ and information catalog. You can view basic and common concerns there. If you send an email, they usually respond within 24 hours. 

Does American Rarities Buy Old Coins?

Yes, American Rarities does buy old coins. Along with rare coins, the company has a long history of specializing in these type of products. If you have old coins, you can contact them to ask for an appraisal or grading so you will know what its value holds.

American old coins that the company buys include Morgan silver dollars, Peace silver dollars, and Lincoln cents. Aside from this, they also buy old coins from other continents such as Asia and Europe.

American Rarities Scams History

The company has not been charged with any lawsuits, nor have they been involved in major fraudulent activities. Since being founded in 1991, they have maintained a clean record and a strong reputation within the precious metals industry.

American Rarities Ratings and Reviews

If you are a constant reader of our website, you will know that we really are keen on showing how these precious metals companies are rated by trusted experts in the industry.

One thing that proves American Rarities' legitimacy is their BBB accreditation. With that being said, we are going to see how this company is rated and reviewed from other reputable websites. (UPDATED JULY 2023).

American Rarities BBB Rating

According to their BBB page, they have an A+ grading and have been in business for 25 years. They have 8 reviews on BBB and an average rating of 4 out of 5 stars.

In addition, there are multiple complaints filed against them from dissatisfied customers. This is quite a red flag especially when they have been in operation for multiple decades.

Nevertheless, they do have some pleasing comments made from happy customers. The reviews are the following below:

American Rarities Yelp Rating

They only have a 1 out of 5 star rating in their Yelp profile. That said, they also only have three review on there, so perhaps it should be taken with a tiny grain of salt. However, this should also be seen as a red flag. 

This rating is very underwhelming for a company that has been in the industry for quite some time. Nevertheless, as their website is outdated and underdeveloped, maybe the company isn't focusing on their online presence.

American Rarities Complaints

In the same case as having very few ratings and reviews, American Rarities also has few complaints that can be seen in either Yelp and BBB. In the spirit of full disclosure, here are the only three complaints from Yelp:

As you can see, the complaints were about the appraisal services and one about customer services. The customers were dissatisfied about the grading and appraisal value offers that American Rarities has given to their coins.

Company Pros and Cons

Is American Rarities a Scam?

It does not seem like American Rarities is a scam. They might not give you the price you are looking for, but with that said, it is totally up to you to do your own research before deciding on who you should work with and what price offer you would be comfortable with accepting.

You probably care more about "you" than anyone else does, so proceed with caution. I can affirm that American Rarities is a legit company, but as always, you need to do your own due diligence. This is the internet, after all.

Better Alternatives To American Rarities

Before you jump in to American Rarities, it needs to be said that you must do your own research and due diligence, especially when it comes to liquidating your precious metals coins and/or bullion. You are responsible for your own actions. Be careful.

If you are looking to diversify or just re-up your precious metals stack, Goldco might be a great fit. Their “bread and butter” is gold and silver. They know how to “walk the talk and talk the talk” when it comes to precious metals and are no nonsense people. Who doesn't like that, right?

The following below is how American Rarities fares against major competitors like Goldco, Silver Gold Bull, and Money Metals Exchange.

Final Verdict - Is American Rarities Worth It?

No precious metals company is ever going to be perfect. Each one can offer a different approach to things. One might be a better fit for you than another. They might do the same thing, just a little differently.

It might just be a matter of which one fits you better. Everyone is different. There is no "one size fits all" answer for everyone. Each situation is different and should be treated as such.

As for American Rarities, I would say that if you are into rare coins, then the company would be right for you. However, if you want to really be fully immersed in precious metal investing, there are tons of other companies that are just better. 

That said, Goldco seems to be an excellent choice if you are looking to get more precious metals. You can check out a detailed review of them by hopping over our Goldco review.

Hopefully you found this article helpful. Please, if you decide to go with American Rarities, please do other readers a favor and make sure to share your experience in the comment section below, as it could be of great help to others who are researching them.

Also, if you have any questions, feel free to toss them into the comment section below. Other readers might have the answer you are looking for- they can reply to your question!

If you think this article could be helpful to someone you know, please feel free to email them a link to it. You never know how much it might help them. This is a growing topic with more and more people interested in it every single day.