(UPDATED 2026)
Investing in precious metals is one of the proven best ways to protect your assets from volatile markets and economic crises.
There are a couple of companies where you can start, but have you been eyeing Eastern Numismatics to buy precious metals from? =
Well, before doing anything else, you have to read this review to find out everything about it!
Is it legit? Or is Eastern Numismatics a scam? Here is the truth!
Eastern Numismatics Review Quick Summary
- Name: Eastern Numismatics
- President: Eugene Parrella
- Price: Varies depending on your investments
- Rating: 3/5
How I Look at Coin Dealers Like Eastern Numismatics
Before getting into the details, I want to explain how I approach reviews like this. I’ve spent years reviewing precious metals dealers, from large national firms to small, family-run coin shops. When I look at a company like Eastern Numismatics, I focus on how the business actually operates, not just what it claims on its website.
Longevity, transparency, customer feedback, and pricing structure matter far more to me than marketing language. Eastern Numismatics clearly falls into the category of a traditional numismatic firm, and that shapes how I view everything else in this review.
What is Eastern Numismatics?
Eastern Numismatics is a family-owned rare coin company. It was established in 1974 and is currently headquartered in Garden City, New York.
My Perspective on a 50-Year Coin Business
Any company that has survived for more than five decades in the coin industry has done something right. In my experience, businesses like this tend to rely heavily on repeat customers, estate collections, and long-term collector relationships rather than aggressive sales tactics.
Eastern Numismatics feels very much like that kind of operation. It does not function like a modern online metals dealer, and it does not try to. That distinction is important, especially for buyers who are comparing it to retirement-focused precious metals companies.
Furthermore, it has an office in Sarasota, Florida. The Parrella family has been in the industry for a long time, providing excellent services and products to investors and clients.
Eastern Numismatics is a member of various organizations, including the following:
- The Better Business Bureau
- The Professional Numismatists Guild
- American Numismatic Association
Eastern Numismatics was founded on the mission of providing the best coins at the lowest prices. Since then, the company has grown a client base of more than 100,000 customers.
Furthermore, it is comprised of over 50 staff who are more than capable and knowledgeable on the investments industry. Rest assured that they are qualified to help you out.
Management Team
Unfortunately, Eastern Numismatics failed to provide specific information on its management team as well as its founders.
However, they have a webpage titled “How to Add Gold to your IRA” in which they have mentioned Michael Alster and Jonathan Parrella as the company’s primary contacts.
Furthermore, in its BBB profile, Michael is listed as the company’s Office Manager and Eugene Parrella as the President.
Transparency Around Leadership
One thing that stood out to me is how little leadership information is presented in one clear place. While names like Eugene Parrella, Michael Alster, and Jonathan Parrella appear across different pages and third-party listings, the company does not clearly outline roles or responsibilities.
This approach is fairly common among older, family-run coin businesses, but it can feel limiting for newer buyers who want a clearer picture of who they are dealing with.
Eastern Numismatics Products and Services
Eastern Numismatics offers a wide selection of rare coins. Here are the product categories based on its website:
- Cents
- Half cents
- Dimes
- Quarters
- Half dollars
- Silver dollars
- Gold coins.
You can check out the website since it has a product catalog there. Unfortunately, it does not disclose the prices of the products. You must call the company to find out.
Apart from the website, Eastern Numismatics has an eBay profile where it also sells coins.
The company is also interested in buying rare coins from you. All you have to do is to contact them. You can also learn more about this in their website. Another service is appraisals.
Pricing Transparency: What Buyers Should Expect
Eastern Numismatics does not list prices directly on its website, which means buyers must call in to receive quotes. In my experience, this approach is usually tied to fluctuating coin premiums, collector value, and market demand rather than spot pricing alone.
For experienced collectors, this may not be an issue. For newer buyers or those who prefer clear, upfront pricing, this can feel like a hurdle and makes comparisons with other dealers more difficult.
Are there any IRAs?
Eastern Numismatics partnered up with various IRA custodians to take care of its clients’ IRA needs. The company recommends these two: GoldStar Trust Company and New Direction IRA.
If you are interested, you will only need to do 3 steps:
- Open an account through the Eastern Numismatics website
- Fund your IRA precious metals account.
- Your products get shipped.
You can learn more about the specific process by calling Eastern Numismatics. Its representatives will help you out.
Who Eastern Numismatics Is Best Suited For
From what I can see, Eastern Numismatics is better suited for collectors and buyers who already understand the numismatic space. The product focus, pricing structure, and communication style lean more toward rare coins than retirement planning.
If your primary goal is building a precious metals IRA or protecting retirement savings, this may not be the most straightforward option. There are companies that specialize entirely in that area and make the process much clearer.
Auction Services
If you wish to liquidate and sell your precious metals, Eastern Numismatics can help you connect with top-tier auctioneers.
Moreover, they can also auction your precious metals through their website.
If you wish to ask for their help, just give them a call. But some of the products that they do buy are the following:
- Rare Coins
- Currency
- Precious Metals
- Diamonds
- Gold Jewelry
- Sterling Silver
- Fine Watches
- Collectible Cards
- Vintage Comics
- Military Collectibles
- Antiques
- Toy Trains
Appraisal Services
Another service Eastern Numismatics offers are appraisals. This is good if you wish to know more about your items and precious metals.
They have appraisers who can report and give their opinion on your products, such as their current value.
Who knows? Maybe you have some items in your house that are actually worth a lot of bucks!
How to get started?
You can purchase products from Eastern Numismatics through its physical address, website and eBay.
Also, you need to contact them if you wish to find out the prices of the products listed in its website. Furthermore, you must create an account to be able to shop online via the website.
Eastern Numismatics Ratings and Reviews
Here are the current online ratings and reviews of Eastern Numismatics.
- BBB – A+ Rating, no reviews, BBB Accredited since 1976
- Yelp – 2.5 out of 5 based on 8 reviews
- Birdeye – 3.7 out of 5 based on 89 reviews
- Ripoff Report – 1 report
- BCA – B rating, no reviews
As you can see, the online ratings and reviews are not that impressive. This is a helpful information to really find out whether it is worth it to purchase products from this company.
How I Read the Online Reviews
The online reviews for Eastern Numismatics are mixed, and that’s something I always take seriously. A long operating history does not automatically outweigh consistent customer feedback, especially when complaints point to communication or clarity issues.
That said, smaller, older firms often have fewer reviews overall, which can make ratings look harsher than they really are. Still, I believe reviews should be part of the decision-making process, not ignored.
Eastern Numismatics Pros and Cons
Pros
- Offers a wide variety of rare coins
- Has been in business for a long time
- Has an eBay store
- Member of some organizations
Cons
- Website lacks information
- Online ratings and reviews are not impressive
- Does not have an in-house IRA service
My Honest Take
If I were buying rare coins or evaluating a collection, Eastern Numismatics would not immediately raise red flags for me. The company has history, industry memberships, and a long track record.
However, if I were advising someone who wanted a simple, transparent way to protect retirement savings with precious metals, I would likely point them elsewhere. This company feels more traditional and collector-focused than investor-friendly.
Is Eastern Numismatics a scam?
Eastern Numismatics is a not a scam. It is a legit company that has been in the industry for a very long time.
Moreover, it provides legit products. The fact that Eastern Numismatics is a member of some organization says that it is not a scam.
However, the company does not have good ratings and reviews. Personally, I really take that into consideration whenever I want to deal with precious metal companies.
If you are not satisfied with Eastern Numismatics, you can always check out my top recommendation below.
Thank you much for reading my “Is Eastern Numismatics A Scam?” review! If you have any comments or questions, feel free to leave them in the comments section.
Frequently Asked Questions About Eastern Numismatics
Is Eastern Numismatics a legitimate company?
Yes. Eastern Numismatics is a legitimate, family-owned rare coin company that has been operating since 1974. It is a member of several recognized numismatic organizations and is BBB accredited.
Is Eastern Numismatics a scam?
No. There is no evidence that Eastern Numismatics is a scam. However, like many older coin dealers, it has mixed online reviews, which buyers should review carefully before purchasing.
Does Eastern Numismatics offer Gold IRAs?
Eastern Numismatics does not act as an IRA custodian, but it works with third-party custodians such as GoldStar Trust Company and New Direction IRA to facilitate precious metals IRAs.
Does Eastern Numismatics list prices on its website?
No. Product prices are not displayed online. Buyers must contact the company directly to receive quotes, which can make comparisons more difficult for some investors.
What does Eastern Numismatics sell?
The company specializes in rare coins, including gold and silver coins, as well as select bullion products. Its focus is more on numismatics than mass-market bullion.
Who is Eastern Numismatics best for?
Eastern Numismatics is better suited for collectors or experienced buyers who understand rare coin pricing. Investors seeking simple retirement-focused precious metals solutions may prefer companies that specialize in Gold IRAs.
Where is Eastern Numismatics located?
Eastern Numismatics is headquartered in Garden City, New York, with an additional office in Sarasota, Florida.
