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Nationwide Coin and Bullion Reserve Review 2023: A Scam?

July 16, 2023

Nationwide coin and bullion reserve review

Hello there, welcome to my Nationwide Coin And Bullion Reserve Review!

Investing in precious metals is a great way to grow your money over time, but it is important to do your research before you put your hard-earned cash into any investment. There are many companies available, but not all lives up to their promises.

If you are looking for a great precious metals dealer that provides the best products and services, then reading reviews like this is very important. You wouldn't want to regret about your decisions, nor get scammed right?

In this review of Nationwide Coin & Bullion Reserve, you will find everything you need to know about the company, including its services, pricing, and ratings. As we address all of these questions, you'll be able to make a final judgment before investing in them.

Nationwide Coin And Bullion Reserve Review Quick Summary

Name: Nationwide Coin And Bullion Reserve

Owners: Lawrence Kuykendall

Price: Varies depending on your investment

Rating: 3/5

Is Nationwide Coin & Bullion a scam

What is Nationwide Coin And Bullion Reserve?

Is Nationwide Coin And Bullion A Scam website homepage

Nationwide Coin And Bullion Reserve is a Texas-based company that sells bullion bars, bullion coins and numismatic coins. The company was founded 1998.

The company is one of the USA's leading precious metals firms that handles various products, both U.S. and foreign government-issued coins. In addition, this company also offers IRA-eligible products.

The company deeply believes that they have what it takes to serve beginner and professional precious metal investors. In fact, one of its goals is to guarantee a high return on their clients' investments.

In fact, Nationwide Coin and Bullion Reserve was awarded with the 2019 JCK Award for Best Customer Service in the precious metal industry. Lastly, they are a member of the Professional Numismatists Guild (PNG) and the American Numismatic Association (ANA). 

Important Warning

Buying gold, silver, palladium, and platinum is not something to do casually. We are talking about investments for our futures and our legacies. It is of utmost importance that we thoroughly and carefully think about our decisions.

As such, it is strongly recommended that you do very intense research before deciding to work with any precious metals company. There are several factors that you need to consider. A company's products and services, pricing, shipping, and overall reputation are among these factors.

Buying online comes with a big-enough risk as it is. You should be extra cautious about which company you decide to entrust with your hard-earned cash. That is why I salute you for being here and doing your research.

If you would like to save time, you can check out our top-rated and best recommended precious metals firm right here.

Nationwide Coin And Bullion Reserve Products

Nationwide Coin And Bullion Reserve has three product categories as seen on their website. These are gold coins, silver coins and pre-33 American gold coins. But apart from that, they also have bullion products.

The following are some products that are currently listed as available in their website's catalog:

  • Gold: American Eagle Coins, Buffalo Coins, South African Krugerrands, Canadian Maple Leaf Coins, PAMP Suisse Gold Bars, 1 Oz Gold Bar.
  • Silver: American Eagle Coins, Silver Buffalo Coins, Silver Maple Leaf Coins, Mercury Dimes. 1963 Kennedy Silver Half Dollars.
  • Pre-1933 Gold: Indian Head Quarter Eagles, Gold Indian Head, and Saint-Gaudens Double Eagle Pre-1933.

In connection, the company also offers coins from other countries, gold/silver start up packages and IRA rollovers.

As you can see, Nationwide Coin and Bullion Reserve has few selections. If you want a precious metal company that has an extensive product list while maintaining the quality, you should take a look at Goldco, our top-recommended company.

Nationwide Coin And Bullion Reserve IRA

Nationwide Coin and Bullion Reserve does offer IRA services and has IRA-eligible precious metals. However, they are not IRA custodians. With that being said, they work and partner with IRA custodians to help customers invest open up precious metal IRA accounts.

The company offers a variety of IRA products. These include simple IRAs, self-directed IRAs, and self-directed 401(k)s. If you are interested in opening an IRA account, you simply need to contact their customer service and let them assist you onto it.

Pricing and Fees

Nationwide Coin And Bullion Reserve always base its product pricing on the current demand and supply of each product. With that being said, still their prices are competitive and some products are even available below retail prices.

For example, as of July 16, 2023, the price of a 1-ounce American Buffalo Gold Coin at Nationwide Coin and Bullion is $2,122.25. This is slightly lower than the price at JM Bullion, which is $2,162.25, and even cheaper than Goldco's $2,174.95.

In general, lower prices can mean lesser service, so review the details carefully before buying and check out several companies. However, it is important to compare prices before you buy, as the prices of precious metals can fluctuate daily. 

To be updated with the current prices of the products, you can give the company a call, or check out its website.

What Is Their Product Purity?

The purity of Nationwide Coin and Bullion's products is certified by an independent assayer, which means that the products have been tested and verified to meet the stated purity standards.

The purity of products varies depending on the precious metal. For example, their Gold American Eagle coins are composed of .9999 pure American gold. This is the highest purity of gold available, and it is certified by the United States Mint.

The 0.01% is mostly copper and/or silver. The reason why copper and silver are added to the Gold American Eagle coins is to make them more durable. Gold is a soft metal, so adding copper and silver makes the coins stronger and less likely to be damaged. Copper also helps to give the coins a brighter luster.

Here are some additional details about the purity of Nationwide Coin and Bullion's products:

  • Gold: 99.9% or higher
  • Silver: 99.9% or higher
  • Platinum: 99.95% or higher
  • Palladium: 99.95% or higher

Not all gold coins or bullion have the same purity. There are others that are slightly less pure than others. However, Nationwide Coin and Bullion Reserve guarantees that all of their products meet the stated purity standards.

How to Buy From Nationwide Coin And Bullion Reserve?

The buying process of Nationwide Coin And Bullion Reserve is designed to be straightforward and easy for the clients.

First, you just need to create an account in its website, so that you can start adding products to your cart. You can also access the company's complete product catalog.

Once you have chosen your products, you can proceed to the payment and the company will ship them via FedEx the moment that your payment is confirmed.

Again, you will receive a tracking code so that you will be able to know the whereabouts of your packages. Moreover, the company will gift you a free two-year subscription to "American Gold Journal" and "Inside The Vault" as a welcome gift.

Storage Services

Nationwide Coin and Bullion offers different storage options for their customers. The following are their services:

  • Home Storage: The company allows you with home storage solutions for your precious metals. This option is more affordable than IRA storage, but it may not be as secure.
  • Secured Storage: Nationwide Coin and Bullion can also store your precious metals in a secured and insured off-site facility. This option is more secure than home storage, but it may be more expensive.
  • IRA Storage: The company can store your precious metals in an IRA-approved facility. This can provide security and convenience, as you will not have to worry about storing your metals at home.

If you opt for secured storage, your metals are insured and stored in a secure facility with 24/7 surveillance protection. You can also access your metals at any time.

IRA storage and Secured Storage have associated monthly fees, transaction fees, and insurance fees. Make sure to clear this all up and research on your own so it will all fit with your preferences.

Shipping Services

If you wish to know the whereabouts of your orders, the company will provide you with a tracking code. You can use this to follow up with your orders.

Nationwide Coin And Bullion Reserve Insurance

The company that will be responsible for shipping your products is FedEx, bonded by Merchants Bonding. All products shipped are fully insured. Furthermore, the company will contact clients via email or a phone call to update them that the products are being shipped already.

In addition to FedEx's insurance, Nationwide Coin and Bullion also offers their own insurance policy. This policy covers shipments for up to $1 million, and it includes coverage for theft, damage, and loss.

Payment Methods

The company accepts various payment options. The payment methods that are accepted by Nationwide Coin And Bullion Reserve are the following:

  • Credit cards: Visa, Mastercard, American Express, and Discover.
  • Debit cards: Visa, Mastercard, and Discover.
  • Wire transfer: Wire transfers are accepted for larger orders.
  • Check: Checks are accepted for orders up to $5,000.

Upon my research, there are no additional information regarding the company's payment methods.

Some companies would charge fees for certain payment methods, while others will give discounts for other types of payment methods. No such thing exists in Nationwide Coin And Bullion Reserve.

Company Affiliations

A company's affiliations can be a good sign of its legitimacy, especially if they are affiliated with various authoritative organizations in the industry. In the case of Nationwide Coin and Bullion Reserve, you can have a peace of mind.

Nationwide Coin And Bullion Reserve is affiliated with the North American Collectibles Association, Professional Coin Grading Service, Numismatic Guaranty Company, American Numismatic Association, and Merchants Bonding Company.

All of these affiliations contribute to Nationwide Coin And Bullion Reserve's reputation and image, making them a trustworthy company.

Does The Company Have Buyback?

Although Nationwide Coin and Bullion Reserve does not prominently display it on their website, their buyback policy is stated in their Terms and Conditions.

According to the policy, if you are interested in selling back products you have purchased from the company, Nationwide Coin and Bullion Reserve is willing to buy them back at their current buy/bid price. They do not charge any additional fees or commissions on these purchases.

However, it is important to note that you may receive less than what you paid for the products, as the amount you receive will depend on the market conditions and your original purchase price.

Finally, it is important to be aware that the law prohibits the guarantee of purchasing back coins. Therefore, the company's buyback policy should not be interpreted as a guarantee, as it can change without notice.

Management and Executive Team

Nationwide Coin And Bullion Reserve is composed of highly-experienced and proficient experts in the precious metals industry.

This includes numismatics experts, economists, trend analysts and precious metal rarities consultants. They are confident that they can help investors and clients achieve the best of their investment portfolios and to secure their future. 

Although there are no information on the management team of the company in its website, but based on LinkedIn, the company's current CEO is Lawrence Kuykendall. Upon checking the profile, there are no information regarding this person.

Nationwide Coin And Bullion Reserve Red Flags

This section is where things will get interesting. So buckle up and really absorb what you are about to find out!

No Information About The Owners

It’s hard to completely trust a company with no factual information about the people behind it. For Nationwide Coin And Bullion Reserve for instance, the company doesn't seem to have ANY public information on its website as to who its owner is.

This isn’t exactly a great sign. Moreover, reviews and ratings made by its clients online are also not the greatest.

Legal Suit Against The Company

While I was searching up on the management team and owner of Nationwide Coin And Bullion Reserve, I found out the name of its CEO, Lawrence Kuykendall through LinkedIn.

Another website, Justia US Law, also revealed that Mr. Lawrence is the CEO of the company. But, the thing is, the webpage contains information on the legal suit that was filed against the company in November 17, 2020.

The company, along with Mr. Lawrence and 4 other individuals associated with Nationwide Coin And Bullion, allegedly violated the DTPA (Texas Deceptive Trade Practices-Consumer Protection Act) when the Plaintiff June Thomas, purchased her coins from the company for investment purposes.

Although the case was remanded to the trial court for further proceedings, this is still alarming.

Better Alternatives to Nationwide Coin and Bullion Reserve

Before you invest in precious metals, it is important to do your research and understand the risks involved. There are many reputable precious metals companies, but there are also some scams out there.

The following below is how Nationwide Coin and Bullion fares against major competitors like Goldco, Augusta Precious Metals, and Money Metals Exchange.
Is Silver Gold Bull USA a scam

4.1/5

Products

Gold, platinum, silver, and copper

Services

Buying, selling, storage

Shipping

Free shipping on orders over $199 Shipping fee depends on orders under under $199.

Money Metals logo

4.4/5

Products

Gold, Palladium, silver, platinum, and rhodium

Services

Buying, selling, storage, loans

Shipping

Free shipping for orders over $500. $7.97 shipping for orders under $500.

Goldco Logo

4.5/5

Products

Gold, platinum, silver, rare coins, and palladium

Services

Buying, selling, storage

Shipping

Free shipping for orders over $25k. Shipping fee depends on orders under $25k.

Augusta

4.3/5

Products

Gold, platinum, silver, rare coins, and palladium

Services

Buying, selling, storage

Shipping

Free shipping for orders over $2500. $45 shipping for orders under $2500.

If you want a company that has a wider selection of products, a better buyback program, and more positive customer reviews than Nationwide Coin and Bullion, you should take a look at Goldco. This company offers a wider range of services, including IRAs, storage, and education.

Nationwide Coin and Bullion Reserve 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.

We are going to see how Nationwide Coin and Bullion is rated and reviewed from other reputable websites. (UPDATED JULY 2023).

Nationwide Coin and Bullion BBB Rating

Nationwide Coin and Bullion Reserve Review

In their BBB profile, they are not graded and they have a 3.7/5 star rating out of 27 customer reviews. However, they are not accredited even after multiple years of operation.

Moreover, it has a history of "Current Alerts" in BBB. On this part, Nationwide Coin And Bullion Reserve is at a disadvantage compared to its competitors who have excellent ratings and reviews in BBB.

Nationwide Coin and Bullion Trustpilot Rating

Nationwide Coin and Bullion Reserve Review

Interestingly, Nationwide Coin and Bullion has a very good Trustpilot rating. They have an excellent grading, and an outstanding 4.5/5 star rating out of a handful 729 reviews. This really made up for the BBB shortcomings.

This is a huge green flag for the company. When a business has a lot of positive star ratings, they are more likely to have legit and trustworthy products and services.

Nationwide Coin and Bullion BCA Rating

Nationwide Coin and Bullion Reserve Review

In Nationwide Coin and Bullion's BCA profile, they are graded AA and a 4/5 star rating. However, this is for 14 reviews only. We cannot really conclude anything out of this rating due to its few number. But, the AA grade sounds promising.

Nationwide Coin and Bullion Reserve Complaints History

Here you will see the complaints that the customers have on Nationwide Coin And Bullion Reserve. Although most of them are resolved already, it is still important to share to you these bizarre situations between the customers and the company.

Impolite Employees

Complaint 1

There have been a couple of complaints regarding the rudeness of Nationwide Coin And Bullion Reserve's representatives. This is a negative thing because in this industry, customer service is one of the most important priorities.

In Sep 2022, a complaint was filed against the company by a customer who claimed that he received a very bad service from a representative of the company.

It all began when the customer noticed that there was a price discrepancy with his purchase. He confirmed it verbally with a representative, and he was informed a different price than the one that was indicated in the invoice.

When he called the company to clarify this situation, the representative accused him of lying about it and even added that the customer just could not afford the product. The offensive comments continued.

The customer also stated that the original order was recorded verbally over the phone. He requested to have the representative listen to the said call. However, the representative declined, saying that he already wasted enough time on the business.

Unsatisfied with this, the customer called the manager, who said that he can just keep the silver coin for free. If he paid for the ounce of gold only, the manager can return the rest of the orders for a full refund.

This pleases the customer. However, after sending a couple of emails to the company, he never received any further information on the processing of his refund!

Upon writing the complaint, the customer shared that it has been 2 weeks already since Nationwide Coin And Bullion Reserve received the products, when the refund should only be processed for 5 business days.

Fortunately, the customer did state that the company already resolved the issue.

Complaint Patterns

In BBB's top page, there was an alert saying that there are complaint patterns in Nationwide Coin And Bullion Reserve. Although currently, the alert is replaced, this is still an alarming topic that we should talk about.

Nationwide-Coin-Bullion-Reserve-Inc-Complaints-Summer-Update-June-21

The pattern of the complaints started in June, 2017. BBB usually does not really step in one-off incidents, however they made this alert to highlight an ongoing mismanagement of the company.

The complaints were observed to be very similar, leading to suspect that the company might have used the same strategies and tactics to the customers.

These clients stated that they were tricked by the same bait and switch attacks, which led them to overpay for their coins. The pattern goes like this:

  • The customer would call the company to buy a 1-ounce coin.
  • A reasonable price would be locked in, confirming the transaction.
  • The customer would then receive a call, notifying that the said 1-ounce coin is out of stock. However, there are new coins that are being offered.
  • If the customer is interested, the new coin would be sold instead, however, at a slightly higher price.
  • But the representative will not inform the customer that the new coin is 1/4 ounce, not 1 ounce.

Because of this, the customers are paying too much for a 1/4 ounce coin! The company responded to this in 2018, saying that they never used such tactic to trick customers.

Instead, the company informed and explained the process of how these authorized purchases are made, as well as their shipping.

Because of BBB's findings on this matter, Nationwide Coin And Bullion Reserve created the Compliance Department, which will cater to all of the customers' complaints, issues and concerns.

Moreover, this company trains the employees about its policies, appropriate sale tactics and salesmanship.

Dementia Purchase

Another complaint was filed on behalf of the complainant's husband in July, 2022. According to her, the husband spent $25,000 worth of gold coins in Nationwide Coin And Bullion Reserve in May, 2022.

She shared that her husband was diagnosed with dementia. But it was still unusual for her husband to make such a huge purchase.

Furthermore, she stated that she specifically blocked some calls to avoid having her husband being manipulated into purchasing stuff. But there was a call in June that promised great deals. The complainant asked the representative to stop the calls already, yet he still continued.

The woman called the number again to explain the situation, asking the representative to stop calling. However, after 2 weeks, the representative left a message, demanding to talk with the husband.

This did not happen since the husband was moved to a care home already. The representative did not take this lightly and became extremely upset.

This made the woman fear for her safety and finances. Moreover, the coins worth $25,000 were delivered on their house's porch without anything to be signed for. This is bad because the package was supposed to be insured and will require to be signed.

Fortunately, the company shared that the Compliance Department reached out to the woman and apologized to her. Both parties negotiated and arrived to a resolution including the following:

  • Both the husband and the wife are included in the company's "Do Not Call" list. Since then, they never received calls from the company again.
  • It turns out that the husband called Nationwide Coin And Bullion Reserve on his own will.
  • The wife was a bit upset about the fact that the husband made a decision to purchase coins without consulting her first. However, they both discussed this and resolved the matter.
  • The husband wanted to keep the coins. But the company stated that they were willing to buy back the coins with the full price.
  • Lastly, the sales representative was trained and informed about the company's policies and the appropriate customer service.

Reviews and Complaints Customers

In terms of complaints and reviews from customers, well, Nationwide Coin and Bullions has a handful. You can all see them following below:

Complaint 1
Complaint 2
Complaint 3

All in all, the comments about Nationwide Coin And Bullion Reserve are a bit of a mixture of great and not-so-great.

Trustpilot reviews seem okay. Hopefully they come from genuine customers, since there have been cases wherein companies hire people to leave positive reviews about them in these websites.

The BBB complaints, on the other hand, are quite serious. A 3.7 star rating, no grading, and not being accredited? Yikes, this is something to be concerned with.

Some of the complaints filed against Nationwide Coin And Bullion Reserve talk about the company taking advantage of the elderly. There are also accusations of them playing the old bait-and-switch shady tactic.

Some of their customers also went through advertising and sales issues. Most of these complainants also experienced very poor customer service.

Moreover, there is also a Reddit thread about Nationwide Coin And Bullion Reserve. In general, people there are saying that the company is mostly okay but some people are having problems with the long shipping.

It’s up to you to check out the company you work with and feel comfortable with your chances for a smooth process and integrity in the work you do with them.

There have been a couple of users in YouTube who shared their experience with Nationwide Coin And Bullion Reserve. Most of their concerns was that the prices of the products are too good to be true. That is why they uploaded these videos to share what they think about the company and their products.

Company Pros and Cons

Pros

  • High quality and purity products
  • Free shipping
  • Sells government-issued products
  • Has a newsletter that provides information to invetors

Cons

  • No BBB accreditation
  • Many BBB complaints
  • BBB Alert!
  • Poor customer support

Is Nationwide Coin And Bullion Reserve a Scam?

While this company is clearly legitimate, they do not have a squeaky-clean reputation. The complaints are not easy to ignore. The accusation of elderly abuse is also quite serious.

The comments about their poor customer service are just as bad. No business is perfect, but it is understandable if they at least provide great and professional customer service. Nationwide Coin and Bullion Reserve has failed to do that for their customers.

Customers say that they are being disregarded if they call to complain. This is a very bad thing. It is not uncommon for companies to make mistakes with orders. After all, order shipment is a long process, so there are many opportunities for mistakes to be made.

However, if the representatives are helpful and professional, any mistakes can be easily resolved. This is not the case with Nationwide Coin and Bullion Reserve. Complainants state that they receive no help when they call for assistance.

Conclusion: Is This Company Worth It?

If after all these information you still want to give Nationwide Coin And Bullion Reserve a try, you may do so, but be wary of their alleged tactics.

Make sure that you are not risking an enormous amount of money and make sure that you have gone through thorough research before you finally make that order.

If you want a company that is more reputable and offers great services, Goldco is worth a try. They have received thousands of top ratings and hundreds of first-rate reviews on consumer watchdog websites. Check out their website through the link below.

Thank you so much for reading my Nationwide Coin And Bullion Reserve Review! If you have any questions, please feel free to leave them below 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 2024!

Anis

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  1. Please allow me a moment to comment on this company. The timing of all of this is quite remarkable. I was interested in buying a 1oz. gold coin as a graduation gift for my niece ( I have no kids..lol)…Knowing the market as a former trader I didn't want to overpay to a dealer, I knew if I researched and shopped around, I could find one within reason to spot price which was trading in a range of $1,775-1,790. Most gold coins were priced over 1900, which I thought was ridiculous. I even saw some on Ebay, I"m bidding, get outbid, I drop out, as I said, I'm in no hurry to overpay. That very afternoon my weekly circulars arrive with the mail and the back page ad catches my eye, an advertisement for Gold American Eagles at spot price $1725. They also offered a free 1 MS70 1oz. Silver Eagles as a gift. I was really really skeptical but I said I'd go along to see what happened. I called and spoke to the agent Matthew, a super nice guy and after giving him the ad's key code, processed my order. I knew what the spot price was and he gave me a quote which was even better, I was only allowed one, and he tried to up-sell me on other products, which was fair, and graciously accepted my decline. I was still nervous which led me to this site but I have to say the coins arrived a few days ago and I received a beautiful 2021- 1oz gold coin. It's realllly nice. The coins were very well packaged and in plastic display boxes.. I had tracking numbers for when it was shipped. The silver American Eagle is indeed MS70 and signed by designer Dale Everhart. I could not be more satisfied !! They are the real deal & I did get a great, fair deal. Please not not hesitate to do business with this company. I was only allowed to buy the one coin at spot, but that's all I wanted to really buy. The timing was crazy, as they say it was meant to be and I thank Nationwide coins. From start to finish, they were all awesome to deal with.

  2. I got scammed for $1107.00 i was convinced by Jeffery Harrison to buy a 1/2 ounce 2020 $10 Dollar coin. Don Everhart MS70 with a Authentic Hand Signed. He said that it was a low mintage of 500 and should go up in value in a short time? I made this purchase on 8/24/2020 I saw the same coin for sale on E-Bay for $888.00, on 5/07/2021. DO NOT TRUST THIS COMPANY

    1. What a shame, Dennis. Sorry for your loss. Hopefully your feedback helps others avoid the same situation. Really appreciate you sharing your experience. Buyer beware.

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