|BCA Accredited Rating||N/A|
|BBB Accredited Rating||A+ (On a scale of A+ to F)|
|TrustLink Reviews||(Based on 4 Reviews)|
|IRA Transfer Process||14 Days|
|401(K) Rollover Process||4 weeks|
|Metals Delivery||7-10 days|
|Annual Admin Fees||$75-$295 (Scaled)|
|Annual Storage Fees||$225 minimum (Scaled)|
|Preferred Custodian||New Direction IRA|
|Preferred Depository||CNT Depository, Inc.|
|Min Purchase Amount||Not Disclosed|
|Physical IRA Application|
|Digital IRA Application|
|U.S. Mint Listed Dealer|
|Promotions||Free first 6 month storage fee.|
California Numismatic Investments (CNI), with headquarters in Inglewood, CA, is one of the many companies that offer services for people who want to buy precious metals as part or all of their IRA investments. The company buys and sells gold coins and gold bullion and also deals in other precious metals.
It should be noted that the company does not directly manage IRA accounts. It recommends that its customers create an IRA account with New Direction. Once the account has been set up, CNI can provide the metals that will be used to finance the account. It can also arrange independent storage.
The company is accredited with the Better Business Bureau (BBB) since CNI’s inception in 1981, and gets the BBB’s highest rating of A+. This rating is based on customer satisfaction levels as recorded by the BBB. There are no outstanding complaints about CNI on file with the BBB.
The company includes hundreds of customer reviews on its website. Most customers are very positive about their dealings with the company.
There are four reviews of the company on Trustlink; of which three are negative and just one is positive. The complaints expressed concern about the company’s poor customer service, and about delays in delivery of products. One of the complainants stated that he or she received a lower quantity of coins than ordered.
The positive reviewer sold a coin to the company, and was happy with the price and the fact that the company did not need to get an external appraisal. It should be noted that this positive review dates from 2009, and the negative ones date from 2011.
As the name implies, the company specializes in dealing with coins. It offers valuation services, as well as buying and selling coins. If you are planning on buying coins to fund or part-fund your IRA, you may find their expertise useful. However, you should be aware that coins are a higher risk investment than bullion, something that is particularly important when investing for a retirement fund.
Many potential clients may be put off by the fact that they cannot set up everything online, something that most other companies permit. This makes the process of setting up an IRA slower, as forms have to be sent via snail mail.
Gold and other metals purchased for IRA purposes have to be stored in a depository. Under IRS rules, the IRA owner cannot physically take possession of the purchased metals. There are always fees attached to storage, but since CNI does not handle storage, and it does not directly open an IRA account, it does not have any fees.
Instead the fees must be paid to the storage company and the IRA administrator. This makes it difficult for potential customers to work out how much it will cost in total to set up an IRA through CNI.
This company has been in business for 33 years, and is probably a good choice for people buying or selling gold coins. For those people looking to start an IRA or add metals to their IRA, the inability to do so online is a bit strange in the modern era. On top of that, the risk of keeping coins rather than bullion in your IRA is not recommended. CNI does not make it on to our list of recommended gold IRA companies.
CNI Commercial Video
|Address:||525 West Manchester Blvd, Inglewood, CA 90301|