What is Westminster Mint?Westminster Mint Locations, Timings, Email, Phone, Services
Westminster Mint was founded in 2001 and is a coin dealer in the United States. The company claims to offer trusted service to customers who want low prices and fast physical delivery of gold, silver, and platinum bullion bars, coins, and rounds.
The company is proud to employ a team of highly qualified, devoted specialists who have extensive knowledge of and a passion for the numismatic sector. Their team members offer personalised one-on-one service and can assist you in acquiring nearly any coin for your collection.
The Westminster Mint also offers the first group of high-quality Morgan Silver Dollars with NGC-certified labels that have been hand-signed by Kenneth Bressett, one of the hobby’s most prominent people. These genuine signature labels provide a personal touch, resulting in a one-of-a-kind collectable with historical value.
The Westminster Mint’s President, Ian Clay, is a Lifetime Member of the American Numismatic Association. Westminster Mint is an Accredited Member of the Better Business Bureau (BBB) and a Bullion Coin Dealer licenced by the State of Minnesota Commerce Department.
However, in this article, we will find out whether or not what this company claims is true by examining a few customer reviews and other sources.
- Address: 3300 Fernbrook Ln N # 160, Minneapolis, MN 55447, United States
- Phone: +1 952-544-4111
- Timings: Mon-Fri, 9 AM to 5 PM
- Website: https://www.westminstermint.com/
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People Behind Westminster Mint: CEO, Owner, Co-Founders & MoreWho owns Westminster Mint? What is the management team behind Westminster Mint?
The company’s website does not provide much information on its team members, however, it addresses its president, Ian Clay, briefly.
Ian Clay: President
Ian Clay is the president of Westminster Mint and the author of the book “Modern Coin Rarities – 1986-2016. The book identifies forty-six of the most important and collectable gold, silver, and platinum coins issued spanning three decades.
Aside from information regarding his book, there is no further information about him on the website. After digging deeper, I discovered his LinkedIn profile, but nothing else is available there either.
I found something noteworthy as well:
Thomas J. Styczinki, a resident of Hennepin County, Minnesota brought a class action on behalf of purchasers of two or more “imitation numismatic items” manufactured, distributed, and/or sold by Defendants, Westminster Mint and his president Ian Clay.
For more details: Styczinski v. Westminster Mint
Westminster Mint Products: Bullion Coins, Bars, And Rare CoinsAll products offered by Westminster Mint
The company offers a vast range of products for investors to add to their collections. On the website, you will find silver and gold coins as well as collectable items.
Gold
Investors will find several types of gold coins. Some gold products you can purchase include:
- American gold coins
- Bullion gold coins
- Gold bars
- Pre-1933 gold coins
Silver
The company also provides silver products for investors looking for silver to add to their portfolio. But, it appears that they have limited items. Some silver products you’ll find on their website include:
- Silver Bullion Coins
- Silver Bars
- Silver Ingots
- Silver Rounds
Silver coins from the Westminster Mint include significant dates, MS 70 coins, Morgan dollars, and Peace dollars.
Collectables
The company also showcases several collectable items for investors interested in expanding their collection.
Some collectable coins investors can find on their website include:
- Signature Series Coins
- Advance Release Coins
- Canadian Silver Coins
- Ancient Coins
Can You Invest in Westminster Mint IRA?Do They Offer A Precious Metals IRA?
No, Westminster Mint primarily serves investors by offering precious metals for purchase, but it does not provide IRA services. This may disappoint investors looking for an all-in-one for precious metals investments within an Individual Retirement Account (IRA).
This company fails to meet the requirements of customers who want to open a gold IRA account. Instead, investors looking for gold IRA choices can look into options and work with companies that specialise in facilitating gold IRAs.
It’s important to understand that the process of setting up a gold IRA includes choosing a reputable IRA custodian or trustee.
However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.
Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer in your state and choose accordingly.
Also, the list will help you understand what the industry’s best has to offer and what you might miss out on.
Westminster Mint Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
The company does not disclose much information about fees and charges. Some of the information available on its website is as follows:
Shipping
According to the company, they understand the importance of providing low prices and quick shipping, and they have products on hand as well as processes in place to ship customers’ orders as quickly as possible.
They also say that the majority of their orders ship within 2-3 days, but clients should allow up to 15 business days for delivery.
Westminster Mint also does not disclose details related to shipping charges.
Payment
Orders can be paid for with a credit card, a cheque, a money order or a bank wire transfer. If a customer wishes to pay with a credit or debit card, the maximum amount is $25,000.
There is no other important data on the company’s website, which could be a red flag for potential investors because there could be a chance for hidden charges.
Westminster Mint Reviews and Complaints: BBB, Yelp, GoogleRead all the Westminster Mint reviews & complaints on Westminster Mint
Better Business Bureau (BBB)
On Better Business Bureau (BBB) Westminster Mint has received an A+, and a 3.37/5 star rating based on 30 customer reviews and 9 complaints. The company has been in business for over 22 years and since 2008 they are BBB accredited business.
Customers have given the company both positive and negative reviews. Some customers praised Westminster’s customer service.
Sitejabber
On Sitejabber, Westminster Mint has a rating of 2.5 stars from 4 reviews. Surely, they have received a mixed response from their customers here.
Yelp
Westminster Mint has a very poor rating of 1.4 out of 5 on Yelp, which is recognized as one of the most trustworthy rating platforms, based on a total of 7 customer reviews and complaints.
Trustpilot
On Trustpilot, as on other platforms, the company has received a low rating, with 3.7 stars based on only 1 customer review.
Is Westminster Mint Legit? Should You Invest With Them?Is Westminster Mint a scam or legit? Are they worth it?
No, I don’t recommend investing with them.
Pros:
- A+ rating on BBB
- Over 20 years of industry experience
Cons:
- Lack of transparency
- Limited online presence
- Do not provide IRA Services
I believe you have many better options available to you.
Westminster Mint is a legitimate precious metals dealer that has been in business for more than 22 years. However, there are some concerns with this company. Such as, they do not provide information about their team members, fees, and charges, and they do not have a good online presence.
Also, they do not offer IRA services.
Before you make any final decision, I recommend checking out our top gold IRA providers.
There, you will find out what the industry’s best has to offer. Also, it will ensure you make an informed decision.
Or, you can check out the best gold dealer in your state below:
Each state has its regulations and rules, so we’ve sorted and found the best Gold IRA company for each state.
Find the best Gold IRA company in your state