Everything you Need to Know About Universal Coin and Bullion
Universal Coin and Bullion is a Minnesota-based company that specializes in gold, silver, and copper bullion. The business is owned by Dave Hendrickson of Ramsey, MN. Universal Coin and Bullion offers a wide range of precious metal products for retail customers all over the world to purchase, including bars and rounds of various sizes, American Eagle coins, and Buffalo coinage. According to its website, Universal Coin and Bullion has been in operation since 1993, making it one of the longest running businesses in the industry.
Universal Coin & Bullion’s headquarters are located at 545 Valley Creek Mall, Unit D-8 St Paul MN 55126. The facility features an indoor showroom that can seat up to 35 people at once, where guests are invited to browse the items offered by Universal Coin and Bullion. At its production facilities, the company offers various services, including custom minting of gold and silver, selling gold and silver scrap, as well as manufacturing rounds out of precious metals.
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Other Factors That Helped This Company Earn the #1 Ranking:
- 1,000’s of happy customers and BILLIONS in retirement Savings PROTECTED
- A+ BBB Rating
- 5 Time Inc 500 Winner
- 2021 company of the year
- No pressure sales team is education-oriented
- 100% IRS Compliant Process
Universal Coin & Bullion is a member of the Industry Council for Tangible Assets (ICTA), which was founded in 1969 to promote honesty within the numismatic industry through education, advocacy, and promoting ethical standards among coin dealers. Members of this association must also agree to abide by the ethics codes set forth by ICTA. Universal Coin & Bullion has received an A+ rating with the Better Business Bureau, which reports they have not had any complaints filed against them since their founding almost 20 years ago.
Today, the company boasts a team of professionals drawn from various companies who have a combined 50 years of experience in the industry. The company’s website features profiles of its president, Dave Hendrickson, sales manager, operations manager, and other key personnel.
In addition to being a precious metals dealer, Universal Coin & Bullion is an IRA Approved Provider that allows individuals to open an individual retirement account with precious metals and other approved investments offered by the company.
Universal Coin & Bullion offers gift cards for their services, which come in denominations of $25, $50, and $100. These gift cards can be used towards purchases made in the gift shop area or in the production facility where coins are minted. They can also be redeemed for cash. According to its website, Universal Coin & Bullion has provided coins and other products all over the world. The company’s primary markets are located in North America, South America, and Europe.
Universal Coin & Bullion is a full-service precious metals dealer offering its customers many services designed to accommodate their needs. This includes collecting precious metals through weekly coin auctions, which are available online at the company website. According to its ” About Us ” page, Universal Coin & Bullion has sold more than 500 million troy ounces of silver since it was first established in 1993. The company is unique among many industry players in that, Universal Coin & Bullion also offers IRA accounts that allow for investments with gold, silver, platinum, palladium bullion, and U.S. Mint collectibles.
The most common precious metals offered by Universal Coin & Bullion include gold, silver, platinum, and palladium. Bars in different weights are available; all bars come with an assay card for authenticity purposes. Coins in various denominations can also be purchased from the dealer. American Eagles, Canadian Maple Leafs, and American Buffalos are just some of the coins available through Universal Coin & Bullion.
Universal Coin & Bullion is one of many companies that offer precious metals to customers. However, the company differentiates itself by offering competitive prices on its products while also giving back to the community through its education outreach program. The company’s website features a blog where Dave Hendrickson, President of Universal Coin & Bullion, speaks about the current economic climate with frequent posts touching on what investors should do during this time of economic instability.
Universal Coin and Bullion Reviews
Universal Coin and Bullion is one of the most trusted names in the U.S. when it comes to buying gold, silver, platinum, and other types of bullion. The company has an A+ rating with the BBB due to its consistent and excellent customer service. The company is considered an industry captain and a pacesetter within the market.
They design their own coins bearing original images that are based on the concept of freedom, so every coin purchased is unique even if they happen to be part of a set. Their prices are competitive because they tend to buy directly from mints or distributors instead of wholesalers who mark up prices, making them cut out the middleman compared to other companies like APMEX (American Precious Metals Exchange).
The company has been in business for decades, something that has allowed them to master their trade and market very well. This fact is represented by the number of awards and positive feedback from stakeholders and customers that the company has garnered over the years. They have already won several awards, such as the Best Gold Dealer Award in 2012 and 2013, which Bullion Reviews awarded. They also got the Readers’ Choice Award in 2011 and 2012 from The HUB, which is a prominent San Diego business publication.
The company offers IRA (Individual Retirement Account) options because buying gold and silver can be beneficial to retirement savings since it can hedge against inflation and stock market fluctuations better than other types of investments that are available on Wall Street today. It works like any other trading vehicle but with an added layer of security due to physical ownership of metals instead of just paper certificates used to track assets like ETFs (Exchange Traded Funds), which are often highly leveraged.
Their products include gold, silver, and platinum coins as well as bars that show the production year and the purity of the metal, which is measured in parts per thousand. The company also offers useful items such as jewelry, scrap gold and silver, and other precious metals like palladium and rhodium. Customers can choose from a number of payment options, including checks, credit or debit cards, and bank wire transfers, to make it convenient for people who would want to buy bullion online quickly because transactions usually take two days to process unless you opt for overnight remittance using Overnight Bank Wire option.
Customers who are active members of APS (American Precious Stones) get 10% discounts on their purchases which consist primarily of loose diamonds, gemstones, and jewelry. The company offers free shipping on all purchases that are made through their website, which is available 24 hours a day, seven days a week. It’s also safe to shop online here because they offer one of the most secure payment gateways in the industry today.
With that said, here are some reviews of their services from customers who have used them before:
“I recently had my home broken into and they stole several pieces of jewelry I’ve inherited over the years, including a coin collection I was hoping to give to my kids one day. The insurance company only offered me less than half for all of it so I called Universal Coin and Bullion to see what they would offer me for them since my insurance coverage doesn’t cover coins and gold.” “They gave me an excellent price and made it very easy for me because they came out to my house, did the appraisal and we walked through each item together while they wrote up the paperwork. Everything was very transparent and hassle-free. I’m glad to have found a bullion dealer that’s close by.”
“I’ve had nothing but positive experiences with Universal Coin and Bullion, they’re one of the best bullion dealers in town! They respond to requests fast and their prices are always competitive.”
With positive reviews like these, it’s not hard to see why the company is currently ranked as one of the best gold dealers in North America.
Universal Coin and Bullion Complaint
Universal Coin and Bullion is dedicated to providing clients with an abundance of options when it comes to purchasing their products. Due to the nature of the business, there are bound to be complaints about their services on occasion.
What follows is a brief look at the most common complaints customers have about Universal Coin and Bullion.
1.) Poor Customer Service – The biggest complaint with Universal Coin and Bullion is apparently their customer service department. Clients who do not receive a return phone call in a timely manner or who feel that they are being treated unfairly by one of the company representatives will take to the internet to make their voices heard on online forums such as Yelp.com & RipOffReport.com.
There seem to be two major reasons for these customer service related problems. First, many clients report having initially been pleased with all aspects of working with Universal Coin and Bullion until something went wrong. At that point, they say that it’s as if the company’s management has no regard for their customers and will attempt to avoid direct contact.
The second issue is that Universal Coin and Bullion seems to be plagued by an extremely high turnover rate among their customer service staff. As such, many customers who do manage to speak with a representative find themselves speaking with someone new every time they place a call or send an email in relation to their account or purchase.
2.) Poor Communication – A common complaint concerning Universal Coin and Bullion is that they use inferior communication techniques when it comes to both communicating updates about your order and providing refunds. Many clients claim that they have either had orders delayed without receiving an update or had received no update at all but still found their original payment returned to them. This is often done without any sort of communication and feels like an attempt on the part of Universal Coin and Bullion to keep customers in the dark about their purchases.
Refunds also seem to be a common source of complaint, with many customers reporting that they have been given vague reasons for why their refunds were not issued. Worse still, customers have been told that they would receive their refund only to discover weeks later, after sending multiple follow up emails, that it had never actually been sent out.
3.) Unprofessional Behavior – A final area worth mentioning is unprofessional behavior on behalf of Universal Coin and Bullion staff members, which borders on harassment according to some clients who have received phone calls from either unhappy representatives or collectors pitching investments. It is worth noting that Universal Coin and Bullion has a policy of making phone calls to overdue clients on their payments. Still, many feel that the collectors do not abide by this rule. Instead, they choose to make calls when they know it is most disruptive and inconvenient so that clients miss these communications.
While these complaints should be taken with a grain of salt, there are enough similar reports online to warrant taking them into consideration when deciding whether or not you want to work with Universal Coin and Bullion. If you are looking for an alternative coin dealer, you should first take a look at the free gold investor kit.
Universal Coin and Bullion Lawsuit
UCB is currently being pursued in several lawsuits and litigations by companies and individuals it has engaged with in the past. Some of the more notable ones are as below:
- Universal Coin and Bullion is under investigation by the U.S. Commodity Futures Trading Commission (CFTC) for defrauding customers out of $6 million. After receiving customer funds for the purchases, customers have filed lawsuits claiming that Universal Coin and Bullion failed to deliver the silver coins they ordered.
- The company has not registered with the CFTC as a commission merchant or futures commission merchant, which is required by the Commodity Exchange Act to provide proof of delivery on commodity orders over 1,000 ounces. The CFTC also claims Universal Coin and Bullion took money from customers’ bank accounts through credit cards without authorization.
- Individuals and companies who believe they have lost money from Universal Coin and Bullion’s credit card practices are encouraged to file a complaint with the CFTC.
- The Federal Trade Commission (FTC) has received over 1,000 complaints against Universal coins and Bullion since 2008. Many of these complaints claim that consumers did not receive coins that had been ordered through the company. Company CEO Douglas Gravitt failed to respond to requests for comments regarding the complaints.
The FTC encourages individuals who have experienced issues with Universal Coin and Bullion to contact their regional office or file a complaint on its website.
Universal Coin and Bullion Lawsuit Example (real names and amounts withheld).
“I just received 6 bars of silver that I paid for in February. I have been trying to contact Universal Coin and Bullion since my last order in January. They gave me the runaround about a refund check coming in a few weeks,” said Robert Russell, who ordered silver coins from Universal Coin and Bullion. “They owe my company over $100,000. We can’t pay our suppliers or employees when someone [doesn’t] honor their commitments.”
Universal Coin and Bullion NRA
I am happy to announce that Universal Coin and Bullion is now a National Rifles Association (NRA) partner. This partnership allows members of our e-store access to some fantastic deals provided by the NRA. For those who do not know, the NRA is an American association formed for “the protection of the Second Amendment rights of all law-abiding individuals.” The membership cost of a single individual with one year’s worth of membership benefits comes out to about $35 a year. With this partnership, anyone can have access to some great prices on precious metals without having to sign up for an expensive plan through the official website.
This relationship with the NRA also gives you access to free shipping on any order. For those interested in buying gold or silver, you now have the option of getting free shipping through the company’s website and still pay less than the market price at other retailers.
On top of this, NRA members will also be given 10% off all custom product orders placed through Universal Coin and Bullion, including non-bullion products such as custom coinage and currency certificates. Customers who enjoy designing their own precious metal products can now pay a discounted price to make their vision a reality with us!
Universal Coin and Bullion believe that people should have the option to customize their products. By partnering with the NRA, the company believes that its customers now have access to even more diverse product designs, including a one-of-a-kind 1911 gun replica coin!
The NRA is not the only group that the company supports by offering discounts and free shipping. Its most recent partnership with the United States Army has caused an even more fantastic deal to be present for members of all branches. The United States Army, Navy, Air Force, and Marines – any military service member can become a partner through Universal Coin and Bullion no matter which branch they are in.
Universal Coin and Bullion offers discounted prices on its products for all branches of the United States Military.
The NRA believes that Universal Coin and Bullion is one of the best service providers in the business to offer American-made items at low prices to its widening customer base. UCB’s relationship with the NRA gives it an even greater reason to be excited about its future success in the industry.
In 2008, the NRA Board of Directors Meeting in ST. Louis, Missouri, acknowledged Universal Coin & Bullion leadership for the exemplary generosity the company had shown with the Voice of Freedom Project. This was a project to commemorate the opening of the NRA’s new “National Firearms Museum” at its National Headquarters in Fairfax, Virginia.
The NRA also acknowledged Universal Coin & Bullion for donating $10,000 plus treasured items from their personal collections to those underprivileged children working with Voices Of Freedom Foundation, Inc. This Project is to memorialize those who gave so much during the 9/11 terror attacks on Washington and New York, as well as soldiers serving overseas.
In addition, Universal Coin & Bullion was commended by the NRA Board of Directors meeting for being a major financial supporter of George C. Rockwell Museum. This museum serves as a historical reminder that there were people who fought back against Nazi tyranny and defeated them, which led to the eventual fall of Nazism in Europe.
Why Universal Coin and Bullion is the Preferred Choice
Universal Coin and Bullion has been serving thousands of clients across North America, Europe, and South America since its founding in 1994. The company has faithfully helped all these customers to achieve their coin collection goals and invest in gold. Because of its established presence across regional auctions and conferences, the company is an individual’s ideal choice for anyone with a vested interest in the numismatic market.
Universal Coins and Bullion has been an industry leader in providing the best services to the numismatic market. From rare coins, precious metals like gold and silver, to exclusive jewelry and giftware – Universal Coin and Bullion has it all! The company’s exceptional product line features a wide selection of high-quality items valued by collectors worldwide.
The fantastic relationship the company has with the NRA and other organizations offers you even greater discounts when buying such valuable items. Despite the fact that the company is not lacking in a number of negative reviews online, the overall experience of its thousands of customers has been overwhelmingly positive. Moreover, the company has made tremendous efforts in resolving open lawsuits and complaints about its services in an amicable manner.
Today, the company is dedicated to staying ahead in this industry by offering exemplary customer service that is intuitive and personable. The company boasts a dedicated staff of friendly representatives who are eager to help you in every way they can. So if you’re looking to find precious metals, rare coins, exclusive memorabilia, or simply want high quality jewelry, then look no further than Universal Coin and Bullion!
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