Jack Hunt Coin Broker Review – A Quick Overview

Jack Hunt Coin Broker is a precious metals dealer in New York. The company has been in the industry since 1968 and is a family-owned enterprise. However, the company doesn’t offer any gold IRA services. Another red flag is they don’t have any BBB ratings and a very limited online presence.

What is Jack Hunt Coin Broker?

Jack Hunt Coin Broker is a precious metals dealer based in Buffalo, New York. The company specializes in buying and selling gold and silver coins, as well as bullion. They also purchase scrap metals in bulk from regional pawnshops, collectors, and jewelry stores.

This company has been operating since 1968 and has a reputation for honesty, integrity, and fair pricing. The company has a team of experienced professionals who provide expert advice and customer service to collectors and investors alike.

People Behind Jack Hunt Coin Broker:

Jack Hunt Coin Broker was founded by Mr. Jack Hunt in 1968 and is a family-owned and operated business.

Mr. Hunt served as the owner and CEO of the company. Today, his son Scott Hunt serves as the company’s president. Scott holds a Bachelor of Science in Marketing from Canisius College.

Also, he worked for the company for 20 years before being promoted to his current position.

Can You Invest in Jack Hunt Coin Broker IRA?

Jack Hunt Coin Broker does not provide the facility of any Gold IRA or related services. This company focuses solely on buying and selling precious metals to customers.

If you’re an IRA investor, it would be best for you to check out the product selection of a more IRA-focused firm such as Augusta Precious Metals.

Their staff has extensive experience in helping customers open and invest in gold IRAs. Hence, they might be suitable for you too. 

Jack Hunt Coin Broker Products:

Jack Hunt Coin Broker specializes in buying and selling gold and silver coins, as well as bullion. They offer a wide range of products to meet the needs of both collectors and investors, including:

1. Gold and Silver Coins: The company offers a variety of gold and silver coins from around the world, including American Gold Eagles, Canadian Gold Maples, South African Krugerrands, and more. They also offer rare and collectible coins for the serious collector.

2. Bullion: The company offers a wide range of bullion products, including gold bars, silver bars, and platinum bars from various mints and refineries.

3. Scrap Precious Metals: The company also purchases scrap metals in bulk from regional pawnshops, collectors, and jewelry stores.

4. Coin Supplies: The company offers a variety of coin supplies, including coin holders, coin albums, and coin storage boxes, to help collectors and investors protect and display their collections.

Jack Hunt Coin Broker’s product offerings cater to both collectors and investors and offer a diverse range of options to suit different preferences and budgets.

Jack Hunt Coin Broker Fees and Charges:

As a precious metals dealer, the company charges fees and charges for its products and services.

Here are some general fees and charges that customers can expect:

1. Bid/Ask Spreads: The company typically offers bid/ask spreads on their products, which is the difference between the buying and selling price of a product. This spread covers the dealer’s costs and profits.

2. Premiums: The company may charge premiums above the spot price of gold and silver for their products. The premium is typically based on supply and demand factors and covers the dealer’s costs and profits.

3. Shipping Fees: The company may charge shipping fees for orders that are shipped to customers. The shipping fees vary depending on the weight, destination, and shipping method chosen by the customer.

4. Storage Fees: The company offers storage solutions for their customers who want to store their precious metals in a secure facility. The company charges storage fees based on the weight and type of metal stored.

It is worth noting that specific fees and charges may vary depending on the products and services purchased, market conditions, and other factors. Customers are advised to check with the company directly for the most up-to-date information on fees and charges.

Jack Hunt Coin Broker Reviews and Complaints:

Better Business Bureau (BBB) Ratings:

This Business has 0 reviews with 0 complaints registered. The business is not Better Business Bureau accredited.

Yelp:

This business has 4.5 stars out of 5 stars. It has this rating with only 3 reviews. 

Negative Review:

Mandoud Omar has been a repeat customer of this establishment. However, he alleges that they promote spot prices but end up charging 6-7% over the spot price. According to him, the additional 6% to 7% fee turns out to be unreasonable.

Positive Review:

According to Chris M., this company consistently offers excellent prices and services to his business. He also mentions that they pay fairly and promptly. Based on his positive experience, Chris highly recommends this business.

Is Jack Hunt Coin Broker Legit?

Yes, Jack Hunt Coin Broker is a legitimate and reputable precious metals dealer with over 50 years of experience in the industry. The company has a solid reputation. They are also known for providing quality products and exceptional customer service to their collectors and investors.

Jack Hunt Coin Broker is also a member of several professional organizations, including the Professional Numismatists Guild (PNG), the American Numismatic Association (ANA), and the Industry Council for Tangible Assets (ICTA). These organizations have strict membership requirements and standards that members must adhere to, which helps ensure that customers are dealing with reputable and trustworthy companies.

However, the company has a weak online presence.

Although they have been in the industry for several decades, they don’t have as many reviews as you would expect them to have. Also, the company suffers from a lack of IRA specialization.

A precious metals IRA is one of the most effective ways to invest in gold and silver. However, Jack Hunt doesn’t offer that service.

These issues can disappoint many investors.

Wrapping it up: Should You Invest with Jack Hunt Coin Broker?

Clearly, Jack Hunt Coin Broker is unsuitable for most retirement investors. That’s mainly because of their lack of specialized staff for precious metals IRA. Furthermore, they don’t have a strong online presence which makes it difficult to gauge their expertise.

There are many gold IRA companies with more specialized staff and product selections.

If you’re serious about precious metals investments, I recommend checking out our list of top gold IRA companies. There, you can find our top picks according to the state you reside in.

Have experience in dealing with this company? Let us know in the comments!

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