Friday, August 12, 2011

Is Universal Coin & Bullion a reputable company?

I recently bought some gold in the form of Napoleon III 10 franc coins from Goldline and now realize that I paid way too much in commissions (the "spread"). It is my fault for not doing enough research, and thankfully I didn't invest too much, but I'm now weary of buying more gold/precious metals after getting burned. Does anybody have any experience with Universal Coin of Beaumont, TX? They advertise every month in American Rifleman and are endorsed by the NRA, but I'm not sure that means much. I definitely learned my lesson and will be sticking to bullion and bullion coins which track the price of their respective metal, and remove the guesswork of the numismatic premium that a novice buyer like myself knows little about. (Actually I had called Goldline with the intent of buying Krugerrands but stupidly allowed myself to get talked into the higher commission European coins on the basis of the "government can take your bullion" hard sell). Anyways, if any of you have used Universal and have had good (or bad) experiences with them please let me know if you would recommend using them. Are their prices reasonable? If there is a better, cheaper way to buy physical metals please let me know that as well. Thanks in advance for your help.

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