Policies

Legal Disputes:

Although rare, sometimes disagreements or disputes arise in the normal course of any business. It is our strong preference to try and address any such issues personally and directly to find an amicable resolution. But if all else fails, we reserve the right to pursue matters legally if necessary to protect our rights. Any legal disputes with Abacus Coins & Bullion will be adjudicated in Manatee County, Florida.

Purchasers Claiming Tax Exempt Status:

Purchasers claiming exemption from any taxes due on the purchase of goods must submit resale or other exemption certificates to Abacus Coins & Bullion.

Tax:

FLORIDA RESIDENTS ONLY: Per Florida Law we are required to collect Florida Sales Tax on Foreign Coins / NON US Legal Tender and Bullion sales of $500.00 or less, all Legal Tender US Coins and Currency are Tax Exempt, and any US Bullion or Foreign Coins over $500.00 in a Single Transaction is Tax Exempt also. Contact us if you have any questions. Thank you.

Filing IRS Requirements for Cash Transactions:

Note that IRS regulations state that IRS form 8300 must be filed for cash transactions exceeding $10,000 within one calendar year.

Terms & Conditions of Sale Placing an Order:

We accept orders by email Info@AbacusCoins.com M-F 10:00 AM to 5:00 PM EST, Saturdays 11:00 AM to 4:00 PM EST, (unless we are at a show) closed on Sundays, unless by prior appointment or by phone during business hours. We fill orders in the sequence in which they are received. We ask our customers to please note, that some of our items on our site are one of a kind in our inventory, and once they are ordered by one customer they cannot be ordered by another. As such, and in fairness to all, we kindly request that you order an item only if you are serious about it, understand and accept our price, and have sufficient funds to pay for it.

Pricing:

Our retail prices are based on what we believe are appropriate levels given the rarity, quality, supply and demand of the items offered and our cost to replace them. We do reserve the right, to change our posted price(s) at any time due to market fluctuations or simply to correct typographical errors and misstatements.

Trades:

We will consider any serious proposal you wish to make to trade your numismatic coin or bullion item(s) for coins in our inventory, provided that you inform us of your desire to trade before placing an order and we see the coin(s) in hand first.

Methods of Payment:

Personal/Business Check, USPS Money Order, Certified Bank Check, Wire Transfers and Paypal are also accepted. We do not accept Credit Cards, so please let us know by email how you would like to pay.

Items Paid by Bank wire transfer will ship within 24 hours. USPS Money Order, Certified Bank Check or PayPal will be shipped within 3-5 business days of cleared payment. Items paid by Personal/Business Check will be shipped within 4-9 business days of cleared payment, unless we have a history of successful transactions with you, or you can provide sufficient references.

Prompt Payment:

When you make a purchase from Abacus Coins & Bullion, you are personally guaranteeing that you will make prompt payment in full (including applicable taxes, if any) within 3 full days per agreed terms, if you are purchasing any bullion item(s) we require immediate payment due to market volatility / market fluctuation. If you make a purchase acting as an agent on behalf of another individual or corporation (in any capacity), the person signing for receipt of the goods personally guarantees prompt payment and agrees to be held personally liable for the consequences of the purchase.

Penalties for Late Payment:

Although we sincerely do not wish to do so, Abacus Coins & Bullion reserves the right to impose a late fee, or periodic charge, if a purchaser fails to remit full and immediate payment per agreed terms. The rate shall be calculated as 1.5% per month (18% per annum) of the unpaid balance due to Abacus Coins & Bullion. Additionally, purchasers agree to pay Abacus Coins & Bullion reasonable attorneys' fees, court costs and costs required to collect on past due accounts. Note that we will refuse orders from any customers with a shaky payment history with us.

Returns:

We want our customers to be happy with their purchases from us. Our 5-day return policy gives you plenty of time to see if you like the coin(s) and they will aesthetically fit in your collection. If you are not happy with your purchase for any reason, feel free to return it for a full refund of your purchase price, minus return shipping. Please note: there is a 3% restocking fee for all returned bullion due to market fluctuations, these items include all precious metals to include gold, platinum, silver, sterling silver, 90% silver, 80% silver, 40% silver, 35% silver and copper in all forms including coins, bars, rounds, rings or nuggets unless it is our mistake in describing the item(s).

When returning any item(s), it must still be sealed in the holder it was shipped to you in. Opened items, opened sealed bags, opened rolls or holders are not returnable. All shipping charges are non-refundable, and must be returned the same way it was shipped to you i.e. USPS Priority, Fed Ex, UPS, insured or signature confirmation.

Coin and Bullion / Precious Metals Market Risk Factors:

  • The coin market is subject to substantial volatility and market fluctuations including significant and rapid increases and decreases in value from time to time, most especially in the bullion market.
  • The coin market is largely unregulated, so do your research, look on the PNG online site, third party grading services, NGC and PCGS for reputable coin dealers and know most coin dealers do not have brick and mortar stores due to high expenses but like myself will come to you as long as it’s in a safe place, which can be safer in many ways as you don’t have to drive with your coins or collections and if meeting at your bank it is safest for both party’s, glance at feed back on eBay only, don’t use them as a standard for anything coin related.

  • The other large under-regulated coin market risk is eBay, eBay has singlehandedly damaged the hobby of coin collecting and coin investing more than any single entity in history. They allowed the selling of counterfeit coins and bullion from China for over ten years, eBay has financially devastated millions of buyers and caused hundreds of small business eBay coin dealers to go bankrupt. Sadly many of those buyers that lost money, instead of suing eBay, they turned around and resold the counterfeits they bought on eBay, back to other eBay unsuspecting buyers, keeping the circle of crime going. eBay lets anyone sell a coin, they don’t need to know about the coin, they can sell a $500.00 dollar coin for $10.00 dollars, that is not market value, that is devaluating an entire market, just like when big banks manipulate the precious metals market, there is no difference. There is a huge difference though between a person who sells a coin and a coin dealer, who’s real title is Numismatist, a person having knowledge of coins, a person who studies and researches coins, who sells coins and writes coin books. The hypocrisy of eBay, during a PNG (Professional Numismatists Guild) luncheon I attended they said to us they expect Numismatists / coin dealers here from PNG to give our very best to each buyer, as we should, but the irony is they fail to reciprocate and never reward the reputable coin dealers unless you sell a million dollars monthly, then they reward those dealers with lower monthly selling fees and through their algorithm software they drive more traffic to those monthly million dollar coin dealers accounts and stores. So even if you are a reputable coin dealer with eBay but don’t do those kind of monthly sales, they still drive traffic to the bigger dealers and gladly take your monthly eBay store fees. They no longer let buyers search for the coins they are looking for, instead eBay drives buyers via their algorithm software to coin dealers they want them to go to, it’s corrupt, it’s a scam and it is illegal. I used to have several hundred people look at and save my coins daily, now I’m lucky if I get 15 people a day to look at my inventory and if I’m having a really great day, 1 person will save 1 coin a week, I basically pay my store fees to eBay so they can destroy my business, make a profit for themselves and enrich their favorite sellers. When I recently asked eBay why they did this, they flat out denied it happens of course because it is illegal. If you’ve never sold on eBay my advice is never start, I have been a seller on eBay since 1999 and this is what hard work and loyalty gets you. I remember when Americans used to have a Government that would stand up for the little guy, making sure big corporations weren’t deliberately ruining small businesses or monopolizing a system, but what we have now are self-serving, lazy federal agency’s that Congress has no control over because they too are identical to these agency’s and no one is held accountable.
  • Counterfeiting is a huge market risk factor that is not regulated, as I stated above, the Chinese are allowed to counterfeit our rare coins, regular pocket change coins and all bullion and they do this legally and daily in China and they are complete masters at counterfeiting coins, this is due to them having some of our Master Dies from the US Mint, machines that stamp planchets made of an off metal and the complete failure of Congress through poor Government trade policies with China. The USA is not the only country that China counterfeits coins and bullion, they counterfeit their own bullion they counterfeit Canada’s bullion, Australia’s bullion, UK’s bullion, Austria’s bullion then ship them here to sell on eBay, Amazon and the list goes on and on, and as long as country’s do not put sanctions on China to stop this multi-billion dollar raping people of the world they will never stop, so in the meantime millions of more people will keep losing their retirement, the elderly will die with nothing and billions of dollars will keep being extorted.
  • Lastly, we don’t have enough Custom Border Agents or Secret Service Agents who know enough about coins and bullion to know how to recognize real from exceptionally perfect counterfeits. One very important fact to pass on, if you have valuable rare coins, gold, silver, platinum coins, bars, rounds etc that were stolen from your person or your house, do NOT call the police first, call the Secret Service first, if you call the police first, the Secret Service can only help you “if” the law enforcement agency you called first will ask/invite the Secret Service to help them, law enforcement will rarely do this and chances are you will never get your coins recovered.
  • Certification by a major third party grading service such as NGC or PCGS does not guarantee against the normal risks associated with the coin and bullion price market, but they guarantee the authenticity of the coin(s) they graded and this helps a lot to know the rare or collector coin, gold or silver is authentic. There are also several different types of home gold, silver, platinum test kits that can test your gold and silver coins for authenticity, they range from $50.00 to $1500.00.
  • The degree of liquidity of a particular item will vary according to general market conditions, and there may be no active market at all for some coins at certain points in time.

Please note: We do not quote prices over the phone or email for coins we have not seen. The value of coins fluctuates depending on the supply and demand in the current market. Dealer's do not and can not make your coin(s) worth more or less than the actual coin market. Thank you.