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California Numismatic Investments Review

 
CNI-Logo-21-300x60
Official Websitewww.GoldDealer.com
Phone Support800-225-7531
BCA Accredited RatingN/A
BCA ComplaintsN/A
BBB Accredited RatingA+ (On a scale of A+ to F)
BBB Complaints0
TrustLink Reviewstl_2stars_lg(Based on 4 Reviews)
IRA Transfer Process14 Days
401(K) Rollover Process4 weeks
Metals Delivery7-10 days
Setup Fees$150+
Annual Admin Fees$75-$295 (Scaled)
Annual Storage Fees$225 minimum (Scaled)
Preferred CustodianNew Direction IRA
Preferred DepositoryCNT Depository, Inc.
Min Purchase AmountNot Disclosed
Physical IRA Application
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Digital IRA Application
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U.S. Mint Listed Dealer
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ICTA Membership
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TRUSTe Verified
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Norton Secured
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PromotionsFree first 6 month storage fee.

CNI CompanyCalifornia 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.

Customer Satisfaction

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.

Coin specialists

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.

IRA services

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.

Conclusion

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.

What the Others Say about California Numismatic Investments…

Latest Trustlink Reviews on CNI

  • Loki J. posted a review on September 1, 2016: Easy to work with, accurate and competitive pricing and trustworthy Read More »
  • Rolfe O. R. posted a review on August 5, 2014: I was saddened to read the 3 negative reviews regarding this business, since I have been dealing with a certain fabulous salesman there for the last 16 years. I prefer not to give his name, but he is a fine Christian gentleman who has always treated me honestly, and in a truly professional manner. Their prices are very fair, in my opinion. To avoid the kinds of problems mentioned in the reviews, I would recommend that you make an appointment with the company for a specific time on a specifi… Read More »
  • rebecca g. posted a review on April 21, 2011: I have bought thousands of dollars of silver from CNI and the transaction was expedited quickly and successfully arriving at my out of state post officein three days. Today i called CNI for a quote on what they would buy a bag of silver for. The woman put me on hold for a long time, until a man came on the line and asked if I had been helped. I asked for a real time quote for buy back given their closing earlier in the day for silver was sixty cents less. He rudely refused to give me an updat… Read More »
  • Ben R. posted a review on April 13, 2011: I placed an order at California Numismatic Investments, inc for 100 ounces of generic silver coins. I was told that the order would be shipped out the same day if I wired the funds. I checked the next day for delivery and was told that all first time deliveries are delayed 10 business days to check for fraud. I was not given written confirmation of the order. I am a CPA and understand that if you send funds to a merchant and especially if there is a delay, you are at the mercy of the business… Read More »
  • n d. posted a review on January 19, 2011: Bought junk silver 5000 dimes from CNI. When I sold locally and WATCHED the coins being counted, count was 4990, representing face value of $20.00. The coindealer who bought from me told me same machine was used to buy and sell and therefore could not afford any losses by a mis-count. When I simpled asked CNI about the shortage and method of monitoring their handlers I was rudely, very rudely talked to and told "best I choose another coin dealer and not to do business with them anymore." All… Read More »


 

CNI Commercial Video

CNI Contacts

Phone Support: 800-225-7531
Address: 525 West Manchester Blvd, Inglewood, CA 90301