California Numismatic Investments
1. How do I set the price of the gold I buy and how do you send confirmation?
• Buyers ask for a computer confirmation number over the phone to lock in the price. The company requires a minimum $2000 investment on phone orders.
2. What are the payment methods? Do you charge sales tax?
• Bank wire, cashier’s checks, money orders. Bank wire is required on orders greater than $15,000. No sales tax is charged unless the buyer lives in California and the purchase is less than $1500.
3. What does shipping cost?
• Shipping is free on orders over $2000.
4. Do you offer shipping insurance and how much does it cost?
• Yes, all orders are shipped via USPS Registered and Insured mail. Each package is labeled discreetly. Insurance is also free.
5. What is your typical delivery time and what are the options?
• Bank wire is 5-7 days, and the order should be in the customer’s hand within two weeks. Checks are held for 2 or 3 weeks and can take up to 4 weeks to get to the customer.
6. What if my coins are lost during shipping?
• The company will replace the customer’s order at no charge.
7. What is your current dealer’s premium on a 1oz gold eagle? Are there any bulk discounts available?
• The premium is 5.1%. There are no volume discounts available currently.
8. Are my purchases reported to any government agency?
• Customers must fill out an IRS form if they purchase more than $10,000 worth of gold and pay with cash or money order. However, gold eagles are not subject to government required reporting.
9. Will you store my purchase? If so, what are the fees?
• No, but they recommend Delaware Depository Storage Company.
10. What are the hours for your telephone support?
• M-F 9am-5pm. The company also offers a 24 hour recording service quoting real-time prices.
11. If I have questions, is it best for me to call or email?
12. Do you buy gold coins and what is your current premium and/or discount to sell to you?
• Yes, the premium is 1.8%.
13. How do I ensure delivery when shipping coins I sell back to you?
• The company recommends using USPS registered and insured mail. It also requires customers to use the confirmation code given at the start of the transaction.
14. Who is the owner of your company? How long have they been with the company?
• Richard J. Schwary and Ken Edwards, who have been in business for 30 years.
Review: California Numismatic Investments is a great option for those who want to save on shipping and can overlook the company’s scattered website. The website contains some great information, but it’s buried in low-grade HTML that makes it appear as though it was designed in the early ‘90s. The website is very wordy. One nice feature, however, is that it provides profiles and pictures of all the staff, putting faces behind the service. The Better Business Bureau gives the company an “A” rating, despite having 4 complaints. A multitude of positive reviews and references can be seen on the website. One disadvantage of this company is that it requires a minimum investment of $2000, so this business would be unsuitable for small-time investors. However, with regards to customer service, the company is great. The representative I spoke with was very informative and only referred me to the website on some basic questions. For larger investors, California Numismatic seems like a good option.