Westminister Mint Review
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Are you looking for a reliable way to increase your wealth and protect yourself from the unpredictable stock market? If so, you might have come across the recommendation of financial experts to invest a portion of your funds in precious metals such as gold, silver, and others. In your search, you may have come across the Westminster Mint.
So, who is the Westminster Mint and what is their reputation? Can they provide you with high-quality products and services to help you achieve your financial goals? Read on to discover important information about this company that will help you make an informed decision before making a purchase.
– Products: Westminster Mint specializes in precious metals.
– Owner: The company is owned by Ian Clay.
– Rating: Westminster Mint has received a rating of 3.0 out of 5.
Please note that these are essential facts about the Westminster Mint that you should consider before deciding whether to engage with them.
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- They have received over 1,000 5-star ratings online
- They safeguard over $1 billion in retirement savings
- They have earned an AAA customer rating
- They have an A+ rating with BBB
- They have won Inc 500 award 5 times
- They were named the 2021 company of the year.
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About Westminister
Introduction:
The Westminster Mint is an online platform dedicated to helping clients find a wide range of bullion commodities, including coins, bars, and rounds, at competitive prices and with fast shipping. They also specialize in collector coins, which are valued based on factors such as rarity, condition, era, mint mark, and origin, rather than just the metal content. The company is renowned for its patented silver bars, a popular product among customers. Let’s delve into more details about the Westminster Mint, including its background, pricing, and return policy.
Background:
Established in 2001, the Westminster Mint holds an A+ rating since joining the Better Business Bureau in 2008. The company boasts a dedicated team with extensive knowledge and experience in dealing with precious metals. All staff members are qualified and well-versed in the field of numismatics. Moreover, the Westminster Mint is a licensed dealer of certified coins by esteemed organizations such as the Numismatic Guaranty Corporation (NGC), the American Numismatic Association Certification Service (ANACS), and the Professional Coin Grading Service (PCGS). To enhance customer convenience, the company offers a free mobile app that allows users to track precious metals, buy or sell bullion, and monitor market trends.
Pricing:
Given their extensive product range, customers interested in specific pricing details should visit the Westminster Mint’s website and search for the desired item. It’s important to note that the prices of precious metals can fluctuate daily due to market changes. Therefore, it’s normal to come across varying prices for the same item on different days.
Return Policy:
While the Westminster Mint is confident that customers will be satisfied with their purchases, they provide a 30-day return policy for items in resalable condition if the customer is unsatisfied. The return will include the full purchase amount and applicable taxes, but it does not cover shipping and handling expenses, including the cost of insured return shipping. It’s worth mentioning that gold and silver bullion bars, coins, ingots, rounds, and wafers are not eligible for return. Instead, the Westminster Mint may repurchase them at the prevailing market rate, which could be higher or lower than the initial purchase price. However, certified coins, numismatic coins, and collectible coins are not eligible for buyback after the 30-day inspection period. To initiate the return process, customers are advised to contact the Westminster Mint via email at Returns@Coin-Rare.com to obtain a return authorization number, which should be clearly indicated on the return package.
Gold
Investors may choose from a variety of gold coins and bars, including:
Coins
Bars
Silver
Some of the Silver coins, bars, and rounds provided by Westminster include:
Coins
Bars
Rounds
Furthermore, at the Westminster Mint, customers have the opportunity to purchase a wide range of collectible, rare, and antique coins. Whether you are a history enthusiast or simply interested in owning something unique, you’ll find an array of options that might pique your interest. Some of the possibilities include:
Ancient Coins
Shipwreck Coins
Gold Hoard Coins
Payment
The Westminster Mint provides clear information about its payment and delivery procedures on its website. When placing an order, customers have several payment options available, although there are some restrictions to keep in mind.
For orders paid with a debit or credit card, there is a maximum limit of $25,000. New customers may be required to provide additional identification to validate their card.
If you prefer to pay with a personal check, you can do so for orders up to a maximum amount of $50,000. This option can be beneficial for those who wish to place larger orders without using a wire transfer. It’s important to note that the check payment must be received within 10 days of placing the order.
Bank wire transfer is also accepted as a payment method, and there is no specific restriction mentioned on the website regarding wire transactions. However, it is advised to initiate the transfer within 48 hours of receiving the purchase confirmation.
In cases where payment is not completed within the specified timeframe, the transaction will be canceled, and the customer will be responsible for any market loss recovery. This means that if the value of precious metals has decreased since the time of purchase, the Westminster Mint will retain the difference. This policy is a common practice among merchants dealing with precious metals and helps safeguard against potential future losses.
Shipping
The Westminster Mint prioritizes efficient order processing and delivery. While the website indicates an estimated delivery time of approximately 15 days, most orders are typically dispatched within three days. All packages are shipped using the United States Postal Service’s Priority Mail, and purchases totaling over $100 require a signature upon delivery.
To provide comprehensive protection for your valuable assets and ensure peace of mind, every shipment includes transit insurance.
Unlike many other retailers who offer free delivery upon reaching a predetermined spending threshold, Westminster Mint determines shipping fees based on the size of your purchase. For instance, purchases up to $300 incur a shipping cost of $11.40.
Customers Reviews
If you’re interested in Westminster Mint and considering doing business with them, it’s important to be aware of any potential warning signs. Evaluating customer feedback and experiences can provide valuable insights beyond what is presented on the company’s website.
Based on reviews from various platforms such as the Better Business Bureau, Yelp, and Trustpilot, Westminster Mint’s ratings appear to be satisfactory but not exceptional. Their ratings fall somewhere in the middle range compared to other businesses.
The Better Business Bureau has awarded Westminster Mint an A+ rating. However, on Yelp, the company received a lower rating of 1.5 out of 5 stars. Trustpilot shows a higher rating of 4.1 out of 5 stars. The Business Consumer Alliance gave Westminster Mint a B rating, which is lower than the highest rating of AAA. It’s worth noting that customer reviews on the Better Business Bureau were not particularly positive, with an average rating of only 2.88 out of 5, suggesting that there may be room for improvement.
Furthermore, it’s important to highlight that Westminster Mint’s website does not mention IRA services. Many individuals who purchase precious metals choose to include them in an IRA to take advantage of the tax benefits available to IRA owners. The absence of IRA services from Westminster Mint may discourage potential investors seeking these advantages.
Considering these factors, it’s essential to thoroughly research and evaluate Westminster Mint and its offerings before making a decision.
In Summary
Westminster Mint is an established company that has been operating for over two decades. They provide assistance to customers in making transactions and staying informed about the latest market prices through their free mobile app. They offer a diverse selection of gold and silver coins and bars. Additionally, Westminster Mint provides the opportunity to acquire unique and rare coins. Orders are processed efficiently and shipped promptly. Every shipment includes complimentary transportation insurance for added security.
PROS
- Complimentary shipping insurance provided with all purchases, ensuring the security of your shipment.
- Westminster Mint offers a diverse selection of coins and bars, providing a wide variety of options for customers.
- The availability of a free smartphone app allows for convenient purchasing and monitoring of market prices.
- The company frequently conducts promotional activities, offering the opportunity to purchase coins at discounted prices.
- Westminster Mint is BBB certified and holds an A+ rating, indicating a level of credibility and customer satisfaction.
CONS:
- Limited customer feedback is available, making it difficult to assess the overall customer experience.
- Existing reviews of the company are average, suggesting that there may be room for improvement.
- IRA services are not mentioned on their website, potentially discouraging individuals seeking to include precious metals in their retirement accounts.
- Shipping is not free regardless of the purchase amount, which may be a drawback for some customers.
Conclusion
If you are contemplating investing with Westminster Mint, it is important to consider the company’s legitimacy and overall reputation. As mentioned, they have been in operation for over two decades and have an average rating across various platforms.
While this indicates that the company is legitimate, it does not necessarily make it the ideal choice for everyone. The pros and cons outlined in the article provide a comprehensive overview to help you make an informed decision based on your specific needs and preferences.
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