Is Eastern Numismatics A Scam? (Is It Legit?) (Updated 2023)

July 19, 2023

Is Eastern Numismatics A Scam

Hello! Welcome to my "Is Eastern Numismatics A Scam?" review!

(UPDATED 2023)

Investing in precious metals are one of the proven best ways to protect your assets from the volatile market and economic crises.

There are couple of companies where you can start but have you been eyeing on 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

Is Eastern Numismatics A Scam logo


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.

Furthermore, it has an offices 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.

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.

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:

  1. Open an account through the Eastern Numismatics website
  2. Fund your IRA precious metals account.
  3. Your products get shipped.

You can learn more about the specific process by calling Eastern Numismatics. Its representatives will help you out.

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.

Eastern Numismatics Pros and Cons


  • Offers a wide variety of rare coins
  • Has been in business for a long time
  • Has an eBay store
  • Member of some organizations


  • Website lacks information
  • Online ratings and reviews are not impressive
  • Does not have an in-house IRA service

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.

Anis is a digital marketing expert that enjoys writing blogs and helping people avoid scams online; he is passionate about investing in real estate and gold; in his free time, Anis loves playing football, going to the gym, and hanging out with friends.

By the way, if you are tired of scams and want to invest with a legit gold company, check out my 6 top legit gold IRA companies of 2023!


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