Frequently asked questions.
What is Aurum Trading?
Aurum Trading LLC is a part of TAWANI Enterprises, Inc., which was founded by COL (IL) Jennifer N. Pritzker, IL ARNG (Retired) in 1994. An avid coin collector herself, Col. Pritzker used her love of coins to create a numismatic firm that accomplishes her goals as well as contributes significantly to the numismatic industry. Aurum Trading makes a market in Pre-1933 U.S. gold coins. Occasionally, we also work with nonprofit organizations to create unique medallions.
Our Numismatic advisors David Greenstein and John Ringer bring significant experience and industry knowledge to the team. Learn more about our team here.
How do I store the coins I buy?
Storing coins properly is extremely important to reduce damage, extend its life, and keep it safe. Depending on the number of coins you own, storage options include safe deposit boxes at a bank or a home safe. Insurance is also crucial in protecting your assets. We can work with you to weigh the best options for your collection.
I want to buy gold but I don’t want to store it, what do I do?
Speak to your investment advisor but your best option might be to buy an Exchange-Traded Fund (ETF). We are advocates of holding physical metals, but this may not be the best option for everyone as storage requirements and fees can add up quickly. Ask your investment advisor about ETF, which do not have storage fees and can be traded like a stock.
What types of appraisals do you provide and what is the cost?
The most common type of appraisal we offer is insurance or replacement cost appraisal. This assigns a retail value to your holdings.
Purchase appraisals assign a price at which we would purchase your holdings. This is a current snapshot of the market which gives you the option of liquidating your holdings so it is a true market price.
Other appraisals can be for estate purposes. These either assign a wholesale or retail value to the coins as of the date of death or date of inheritance.
An initial consultation is free. Afterwards, our appraisals have a general fee of $150 per hour.
I want to put rare coins in my IRA. can you help?
We cannot put rare coins into an IRA and we advise against it. There are specific bullion coins that can be put into an IRA if held by a depository as custodian. Older coins do not fall into this category. You may have heard some companies providing this service; however, we caution against it as the IRS has issued guidance specifically prohibiting this.
I am concerned with the sales tax implications of the Wayfair decision. what can I do?
If you have concerns about the Wayfair decision, please visit the Industry Council for Tangible Assets (ICTA) website at ICTAonline.org. They are the coin and precious metals industries’ trade association with up-to-date information.