Frederick Coin Exchange Review 2023: Scam Risk?

In a world filled with choices, finding the right partner for your precious metal investments can be quite the task. There are lots of businesses buying and selling gold and silver, and it can be kind of overwhelming, right?

One name that might have popped up in your search for a wholesale precious metals dealer is Frederick Coin Exchange.

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Presenting Frederick Coin Exchange: A Certified Coin Dealer

Frederick Coin Exchange, located right in the heart of Maryland, is your certified go-to coin dealer.

If you happen to find yourself in Frederick, Maryland, their physical showroom is the place to be. You can not only buy and sell items but also get appraisals for your precious pieces. They’ve been at this for over 14 years, so you know you’re in experienced hands.

Think the American Numismatic Association, the Professional Numismatic Guild, the Certified Coin Exchange, and then some.

They’re even an authorized dealer for Professional Coin Grading Services. That’s some serious street cred in the world of rare coins and metals.

But that’s not all; they’re not limited to coins and precious metals alone. Frederick Coin Exchange doesn’t just deal in coins and precious metals.

They’re into collectibles too! That means they handle things like stamps, watches, sports cards, shiny diamonds, and fancy jewelry.

Frederick Coin Exchange: A Team of Professionals

At the helm of Frederick Coin Exchange is Matt Lerner, the brain behind the operation. Matt decided to dive headfirst into the world of coin dealing, turning his passion into a full-time gig when he opened the Frederick Coin Exchange back in 2009.

But Matt doesn’t run this ship alone. He’s got a trusty crew by his side. The team includes dedicated retail associates who are always ready to assist you. There’s also a wholesale assistant who helps keep things running smoothly behind the scenes. And let’s not forget the world coin numismatist, an expert in the world of coins from across the globe.

As a team, they’ve turned Frederick Coin Exchange into one of the top spots for coins and precious metals in Maryland. And guess what? They didn’t stop there. They’ve also made connections with coin dealers all over the country.

Unlock Bulk Pricing Deals on Gold and Silver with Frederick Coin Exchange

Frederick Coin Exchange has some sweet deals when it comes to gold and silver. If you’re looking to buy in larger quantities, they’ve got your back. For gold, if you’re thinking of getting more than 20 ounces, you can enjoy some bulk pricing goodness. And when it comes to silver, the bulk pricing kicks in when you’re looking at 500 ounces or more.

Now, here’s the thing. While you won’t find their prices splashed all over the internet, you can easily reach out to them. Plus, if you like what you hear, you can even lock in that price. So, whether you’re stacking gold or piling up silver, Frederick Coin Exchange has a deal waiting for you. Just give them a ring!

Unlocking the Value of Your Precious Items with Frederick Coin Exchange

At Frederick Coin Exchange, they offer free in-person appraisals to help you find out how much your items are worth. You can simply schedule an appointment online or drop by their showroom.

If you’re more of a digital explorer, their website features a free Gold and Silver Guide that’s packed with useful information.

Now, when it comes to buying or selling precious metals, Frederick Coin Exchange makes it easy. While they don’t spill the beans on their prices online, you can call them to get a current quote or even lock in a price for a particular purchase.

Wondering what kind of shiny treasures they have in store? Although they don’t provide a real-time inventory online, they do offer an information sheet highlighting some of their products. From 1 Oz Gold American Eagles to 1 Oz Silver Canadian Maple Leafs, they’ve got a variety of options to suit your collecting needs. And here’s the cherry on top – they’ve recently started carrying platinum, palladium, and rhodium products for those looking to diversify their precious metal investments.

Now, if you need a more official appraisal, they’ve got you covered there too. Frederick Coin Exchange offers written appraisals for a fee. If you’re looking for an in-store appraisal, it’ll cost you $75 per hour. But if you need an out-of-store one, it’s available for $150 per hour. These appraisals are typically scheduled after 2:00 pm, so be sure to book an appointment in advance.

Discovering Precious Insights at Frederick Coin Exchange

Frederick Coin Exchange has you covered with a treasure chest of resources and a knowledgeable staff to guide you.

YouTube Channel Gems

Frederick Coin Exchange has its very own YouTube Channel, and it’s a treasure trove of learning goodies. You can jump into videos that break down how coins get their grades, take a peek at famous gold and silver coins, get the lowdown on testing precious metals, and a whole bunch more. It’s like a goldmine of knowledge waiting for you!

Friendly, Knowledgeable Staff

Have questions or need guidance on precious metal products? Frederick Coin Exchange’s staff is here to help. They’re available for a chat during the week from 10 am to 5 pm. These experts really know their stuff when it comes to various precious metals. They can give you the inside scoop on popular products, coins, and collectibles. And guess what? They’ve got a team member who’s a real whiz when it comes to world coins. So, you can dive into treasures from all around the world. Cool, right?

Selling Your Precious Metals to Frederick Coin Exchange: A Step-by-Step Guide

If you’re looking to cash in on your precious metals, Frederick Coin Exchange has made the process simple and straightforward. Here’s a step-by-step guide on how to sell your gold and silver to them:

In-Person Sales Only

Frederick Coin Exchange prefers in-person transactions when it comes to buying gold and silver. Unfortunately, they don’t purchase precious metals from customers under 25 years old. So, if you’re eligible and have some precious metals to sell, read on!

Visit During Open Hours

To get started, bring your precious metals to their physical location during their open hours. If you prefer, you can make an appointment beforehand to ensure you get dedicated attention.

Evaluation Process

Once you’re at Frederick Coin Exchange, they’ll start by sorting your precious metals based on their gold content. The prices they offer are directly tied to the New York precious metals prices. They’ll also factor in the weight of your items when calculating the price.

Transparent Pricing

Here’s the good news: Frederick Coin Exchange typically pays at least 75% of the melt value for your items. They believe in transparency, so you can expect a clear and honest offer for each of the items you bring in.

Documentation Requirements

When you’re ready to sell an item, Frederick Coin Exchange will need to see a valid ID from you.

The best part? You can walk away with cash in hand on the same day. So, if you’re thinking of parting ways with your precious metals, Frederick Coin Exchange is your trusted partner in making it happen.

Navigating Precious Metal IRAs with Frederick Coin Exchange

When it comes to investing in precious metals like gold and silver through an Individual Retirement Account (IRA), having all the necessary information is crucial. Frederick Coin Exchange, while a trusted source for buying and selling precious metals, currently doesn’t have partnerships with precious metal IRA custodians. Here’s what you need to know:

No Gold IRA Services

If you’re interested in setting up a Gold IRA, you’ll need to look elsewhere for an IRA custodian. This is because Frederick Coin Exchanges focuses only on selling and buying precious metals, such as gold and silver.

Separate Custodian Required

To establish a Gold IRA, you’ll need to partner with an IRA custodian who specializes in precious metals. This custodian will handle the administrative and storage aspects of your IRA. They make sure your investments align with the IRS rules for IRAs that involve physical gold and silver.

Storage Solutions

One of the critical roles of an IRA custodian is to arrange secure storage for your precious metals. The IRS has strict rules about where and how these metals should be kept, and a reputable custodian will make sure everything is done correctly to follow these guidelines.

So, while Frederick Coin Exchange may not directly provide Gold IRA services or custodian partnerships, they remain your trusted source for acquiring and selling precious metals. If you’re considering adding gold and silver to your retirement portfolio, remember that you’ll need a separate custodian to help you navigate the world of precious metal IRAs effectively.

Is Frederick Coin Exchange Legit? Unveiling Customer Reviews

Frederick Coin Exchange is a well-known name in the industry, but is it legit? Let’s delve into customer reviews and feedback to uncover the truth.

Friendly and Knowledgeable Staff

One common thread in customer reviews is the praise for Frederick Coin Exchange’s staff. Customers value the friendly and knowledgeable team members who assist them with their gold and silver transactions.

Positive Pricing Feedback

Another highlight in reviews is the positive feedback about pricing. Customers find Frederick Coin Exchange’s product prices competitive, and they are satisfied with the prices they receive when selling their precious metals.

Limited Online Resources

One aspect where Frederick Coin Exchange falls short is its online presence. Customers note that the company lacks an online inventory and real-time pricing. To get the latest prices, you’ll need to contact them directly or schedule an in-person visit.

Pricing Discrepancies

Some customers have reported pricing discrepancies between over-the-phone quotes and in-person transactions. But it’s crucial to understand that Frederick Coin Exchange takes these issues seriously and works hard to solve them to make customers happy.

Not a Scam, but Independent Research is Key

In summary, based on Frederick Coin Exchange reviews, the company is not a scam. Many customers rely on the positive experiences shared by others. However, as with any investment, it’s wise to conduct your own research, read reviews, and consider feedback before making your decision to buy or sell with Frederick Coin Exchange.

Your precious metal journey should be based on your own due diligence, and Frederick Coin Exchange remains a legitimate option for those looking to enter the world of gold and silver investments.

Frederick Coin Exchange: Pros and Cons for Gold and Silver Enthusiasts

If you’re a gold and silver enthusiast residing near Frederick, Maryland, Frederick Coin Exchange might be on your radar.


Friendly and Professional Staff

Frederick Coin Exchange’s friendly staff is a big plus. Since they’re a smaller business, they give you a personal touch. You can even book appointments, so they focus solely on you.

Competitive Pricing, Especially for Bulk Orders

When it comes to pricing, Frederick Coin Exchange holds its own. If you’re a serious investor, Frederick Coin Exchange has a very fair price for buying in bulk, which is a good thing.

Strong Reputation and Dealer Network

With over fourteen years in the business, Frederick Coin Exchange has earned a solid reputation among its customers. They’re also connected to a network of competitive coin dealers through the Certified Coin Exchange. Because they have a big network, they can give better prices to customers.


Limited Online Information

One notable drawback is the limited online information. Finding up-to-date product listings and prices can be challenging.

Limited Business Hours

Another potential inconvenience is their limited business hours. Frederick Coin Exchange is open from 10 AM to 5 PM, Tuesday through Friday, and from 10 AM to 3 PM on Saturdays (Eastern Standard Time). If you need to conduct transactions on a Monday or outside of their regular hours, it can be a drawback.

Appointment-Only Visits

Currently, they require all visits to be scheduled by appointment, although this policy may change in the future. While this ensures personalized service, it may not suit those who prefer a more spontaneous approach to buying and selling coins.

Frederick Coin Exchange is a friendly place with pro service. They’ve got good prices, especially if you buy a lot at once. However, their limited online presence and business hours, along with the appointment-based visits, might not align with every investor’s preferences. Consider these pros and cons when deciding if Frederick Coin Exchange is the right choice for your gold and silver needs.

Frederick Coin Exchange Review: Final Thoughts

So, here’s the deal with Frederick Coin Exchange. They position themselves as a decent option if you’re in the market for a national wholesaler of precious metals and wholesale rare coins, and they’ve got a physical spot you can visit.

Now, here’s the catch: they don’t offer some services like gold storage or detailed info about gold IRAs and retirement options. So, if those are on your checklist, you might want to explore other precious metals organizations that specialize in these areas.

Sure, the company has some pretty good reviews for their service, but you might find other companies that cover a broader range of services tailored to your unique investment needs. In the end, it’s all about what suits your preferences and goals for a successful investment journey.

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Tim Schmidt


Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He started IRA Investing to share his expertise in using his Self-Directed IRA for alternative investments. His views on retirement investing have been highlighted in USA Today, Business Insider, Tech Times, and more. He invested with Goldco.