At Christopher’s Rare Coins, we frequently see coins that were purchased from companies with clever names that many people think are U.S. Government entities. They use the word “mint” in their company name. This isn’t an illegal practice, but it can be deceiving.
I did a search of companies with the word “mint” in their company name. Here are a few that I came up with.
NW Territorial Mint
For many consumers seeing the word “mint” in a company name gives them a false sense of trust and reliability, but this is a free country and there is nothing illegal about marketing in this fashion. Unfortunately, the coins they sell often have highly inflated prices. Many of the consumers we see that get hooked are the elderly. They see the name and read the very carefully written sensational ad and think they are getting a deal.
Another gimmick is some companies advertise coins at wholesale prices then tack on a substantial shipping and handling charge, or cleverly have the customer agree to future monthly shipments – at a much higher price.
The bottom line is, know who you are dealing with and educate yourself or an elderly person you know that is buying coins and paying too much.
At Christopher’s Rare Coins, we are always happy to answer any questions you might have whether you are buying from us or someone else.