Over the years, I’ve seen more retirees rush into buying gold and silver without really knowing who they’re dealing with. New bullion dealers pop up constantly, and not all of them deserve your trust.
That’s why I put together this “Is ICCoin a scam” review. If you’re thinking about buying coins or simply want to protect your savings, this article will help you decide whether ICCoin is a smart choice or one to avoid.
How I Evaluated ICCoin for This Review
When I review a bullion dealer like ICCoin, I don’t rely on surface-level claims or marketing language. I look at how long the company has been operating, what they actually sell, how transparent they are about pricing and policies, and whether their business model makes sense for collectors versus investors.
I also compare their offerings to larger, more established dealers I’ve personally reviewed over the years. This includes looking at IRA eligibility, customer protections, shipping practices, and how accessible support really is when questions come up.
This review is written from the perspective of someone who looks at precious metals dealers through an investor’s lens first, not just a collector’s.
ICCoin Review Quick Summary
- Name: ICCoin
- CEO: Richard Thurston
- Prices: Varies per coin type
- IRA Services: Not available
- IRA-eligible Coins: Available
- Rating: 3.5/5
What is ICCoin?
To start, ICCoin is a Vermont-based precious metals dealer. Founded in 1974, it is among the world’s oldest dealers of quality metal coins. As a dealer, they mostly offer gold, silver, platinum, and palladium products.
By this point, you might wondering about the benefits of investing in precious metals. First and foremost, it is an industry that is on the rise and exercises benefits from tax deductions. On top of that, it is among the most secure business ventures around.
Normally, companies that deal with precious metals, in any form, will have a healthy stock of these items. In our case, ICCoin is among these firms. Additionally, them being in the industry for well almost five decades speaks of their resiliency and ethics.
In perspective, many bullion dealers cannot stay afloat in the industry for too long. Several reasons are behind these, ranging from incompetent service, issues about the authenticity of their products, and many more.
For their coins, they are separated into two major categories: US Coins and World Coins. Therefore, if you are looking for coins apart from US-minted, you can freely do so. In this way, this adds positive points to ICCoin.
About their customer service, there is a varied consensus about their contact support. Perhaps the different outlooks on their business ethic might just be isolated cases, but it is something to look into.
Moving on, their online platform looks neat and simple. Personally, I am a fan of simplistic layouts where it leads me directly to the product I need. Furthermore, their website is not littered with many advertisements, which tends to become messy.
By the points above, it would seem that purchasing your metals from ICCoin is an excellent move. However, a meticulous and savvy investor would dive deeper. For that reason, do read the upcoming sections on what makes ICCoin a good company or not.
But before that, if you want to skip to my preferred precious metals company, do visit Goldco. Frankly speaking, this gold IRA firm outshines many metal companies around.
ICCoin Compared to IRA-Focused Precious Metals Dealers
When I compare ICCoin to IRA-focused dealers like Goldco, the difference is clear.
ICCoin:
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Does not offer IRA setup or custodians
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Has very limited IRA-eligible products
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Focuses on collectible and world coins
IRA-focused dealers:
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Handle rollovers and transfers
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Offer compliant storage solutions
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Specialize in IRS-approved bullion
Neither model is wrong, but they serve very different buyers. Problems only arise when investors confuse one for the other.
Who ICCoin Is Actually Best For
From what I can see, ICCoin is clearly built with coin collectors in mind rather than retirement investors.
If you enjoy browsing rare U.S. or world coins, historical pieces, or adding variety to a personal collection, ICCoin makes sense. Their catalog reflects that focus.
However, if your primary goal is:
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Building a Gold IRA
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Rolling over retirement funds
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Buying IRA-eligible bullion in volume
Then ICCoin is not designed for that purpose. In those cases, a full-service dealer with IRA support is far more practical.
Understanding this distinction upfront prevents frustration later.
Products and Services Offered
As previously mentioned, ICCoin is mainly focus on precious metals offerings. That is why, they offer no IRA services. Unfortunately, in these times, many investors are looking for IRA custodians to help them with their accounts.
Nevertheless, let us focus on the inventory ICCoin offers. First off, we will be discussing the items they have under ‘US Coins’. Commendably, their inventory is wide that it can almost cater to every need possible.
However, it must be noted that I was only able to ascertain a couple of items that can be used for an IRA. For instance, they have offerings of American Silver Eagles. Sadly, this is the only IRA-eligible coin they have at their disposal.
For a comprehensive list of their US Coins, please take a look below:
- Early Coinage
- Currencies (Cents, Nickels, Dimes, Quarters, Half-Dollars, Dollars)
- American Silver Eagle
- Proof and Mint Sets
- Commemoratives.
On the other hand, these are the offerings they have for World Coins
- Ancient
- African
- Australian
- Canadian
- Chinese
- Germany
- Philippines
- Among many others
From what you can see, they have a lot to offer in terms of coins. Do note, however, that the actual stock available is not available. Therefore, these items becoming available to you may come solely as luck.
Pricing Transparency and What You’re Really Paying For
One thing I pay close attention to with any bullion dealer is how transparent they are about pricing.
ICCoin lists prices directly on their website, which I consider a positive. You’re not forced into phone calls or pressure conversations just to see numbers.
That said, many of their products fall into the collector or numismatic category, where premiums can vary widely depending on condition, rarity, and demand. This is very different from straightforward bullion pricing.
If you’re used to buying metals purely based on spot price plus a small premium, ICCoin may feel less predictable. For collectors, that’s expected. For investors, it can be a downside.
How Does ICCOIN Work?
For new buyers, purchasing from ICCoin is as easy as counting from one to three. Similar to other companies, ICCoin asks you to create an account in their online platform.
After which, you can then scroll and check out items you want from their offerings. Normally, you will be given some major details about the product and, most importantly, its price.
In the checkout counter, you will need to check whether or not you have the right item in your cart as well as its quantity. And, after this, you can start purchasing them.
Payment Methods
For their payment methods, ICCoin supports a lot of platform. To name a few, you can make your payments thru AmazonPay, ApplePay, PayPal, and credit cards (VISA, MasterCard, Discover and American Express)
Shipping
Fortunately, they allow purchases from around the globe. As such, if you are a buyer outside of U.S.A., then you need to contact them about the specifics of your package. Let us say, the additional shipment fees and the expected time of shipment.
On top of that, buyers who purchase $499 or more will have no shipping fee. Sadly, there is no information available about this promotion being open to non-American buyers.
Below are the shipping fees in ICCoin.
U.S. Orders
- Orders over $499 have FREE shipping
- Standard shipping fee is $6.95 with an estimated delivery of 10 to 14 business days
Canada Orders
- Shipping fee of $16.95 with an estimated delivery of 3 to 4 weeks
International Orders
- Shipping fee of $30 with an estimated delivery of 3 to 4 weeks
- If you pay via credit card, expect that the delivery time will take around 4 to 6 weeks. If you wish to have your order processed immediately, ICCoin recommends paying via PayPal.
Return Policy
Next, one can return their items within 30 days of receiving. Meanwhile, special products can only be returned within 10 days. So, it is worthwhile to check your items for their quality and quantity.
Customer Ratings and Reviews
- Better Business Bureau – A rating, accredited since 1987, with no reviews, and has 2 complaints closed in the last 3 years
Sadly, this is the only available review for ICCoin. For a company that’s already been around for too long, this seems to put ICCoin at a disadvantage compared to its competitors. For example, they have no listings on Business Consumer Alliance or TrustLink!
With this, ICCoin might be better off as your alternative choice for a metal dealer. Of course, this does not speak entirely on their business ethics, but it certainly gives off a warning.
What ICCoin’s Online Presence Tells Me
For a company that’s been around since the 1970s, ICCoin has a surprisingly small digital footprint.
While their Better Business Bureau record is clean, the lack of reviews across other consumer platforms stands out. In today’s market, even small dealers usually leave a trail of customer feedback, good or bad.
This doesn’t automatically mean something is wrong, but it does mean there’s less third-party validation to rely on. As a buyer, that’s something worth factoring into your decision.
Pros and Cons
Pros
- Good inventory of products
- Competitive pricing
- Privacy is important with them
- Return policies and free shipment
- Online platform is neat and simple
Cons
- No IRA offerings
- Few ratings and reviews albeit being an old name in the industry
- Report about incompetent contact support
Potential Risks to Keep in Mind
Based on my review, the main risks with ICCoin aren’t about legitimacy, but about fit.
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Limited IRA usefulness
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Sparse customer feedback online
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Mixed reports on responsiveness
If you go in expecting a full-service investment partner, you may be disappointed. If you go in as a collector who knows exactly what they want, the experience is likely smoother.
My Long-Term Take on ICCoin
From a long-term perspective, ICCoin feels like a stable, niche dealer rather than a growth-oriented investment platform.
They’ve survived decades in the business, which says something about their resilience. At the same time, they haven’t evolved into a modern, IRA-centric metals firm, which limits their appeal for today’s retirement investors.
That doesn’t make them bad. It just defines their lane.
The Verdict!
As a conclusion, this ‘Is ICCoin A Scam?’ article managed to arrive at an answer. Fortunately, this company is not a scam! Moreover, their products are legitimate and alluring.
First off, their website is great and intuitive. It is easy to navigate and pleasing to the eyes. As for their products, they are very diverse, and it is a welcoming sight to see other national coins being offered.
Although there are still some areas that they need to improve. For instance, they have no IRA offerings. On top of that, only one of their products is eligible for IRA-usage!
Next, they seem to have little to no online presence. For a company that’s been around for too long, this seems a little fishy. Not to mention, they have reports of uncooperative representatives.
Generally, coin dealers are supposed to be amicable and diverse. Amicable in a way that they are willing to put their customers’ needs first. Furthermore, additional IRA-eligible items must be at the priority.
Regardless, if you are an avid coin collector, this is a place for you. They have tons of beautiful items on display. However, I would not recommend this firm if you are an investor or IRA holder.
If you are looking for a better option, consider doing business with Goldco. Among the bullion dealers out there, this company alone holds the top spot!
ICCoin FAQs
Is ICCoin a scam?
No. ICCoin appears to be a legitimate precious metals dealer.
Does ICCoin offer Gold IRA services?
No. They do not set up or manage IRAs.
Are ICCoin products IRA-eligible?
Only a very limited selection qualifies.
Is ICCoin better for collectors or investors?
Collectors.
Who regulates bullion dealers in the U.S.?
Oversight ultimately falls under the Internal Revenue Service when metals are used in retirement accounts.
As usual, I extend my gratitude towards you for reading this ‘Is ICCoin A Scam?‘ article of mine. For comments and suggestions, do leave them in the appropriate section below.
