JJ Teaparty Review: What to know about

By Altay Gursel | August 8, 2020

JJ Teaparty: A company that finds all coins

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JJ Teaparty

Company Background

JJ Teaparty is a retail coin shop was founded by Ed Leventhal in 1957 in Massachusetts. The company is truly record-breaking since it is the longest continuously operating rare coin company in its state. 

It offers a large selection of rare coins as well as silver and gold bullion. According to the company website. However, I couldn’t see any bullion products listed on their website.

The business has widely regarded numismatists with more than 200 years of combined experience, two of whom are frequent pricing contributors to the “A Guide Book of United States Coins.”

JJ Teaparty is regularly requested by the trust departments of several Boston banks, financial institutions, and law firms to performing estate assessments, as well as purchases of coins, and bullion.

In addition, JJ  has also been invited to provide their professional opinion on the favor of different government departments, museums, and individuals.

Representatives from JJ Teaparty are traveling around the United States purchasing and selling individual coins as well as collections and attending conferences and auctions as well as purchasing from dealers to find just the right coins for our clients.

JJ Teaparty is a Nationwide known trusted brand among collectors and dealers alike being an honest company in the industry.

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You can find their upcoming convention schedule on their website. They really want to join as many conventions as possible not depending on it is a small local coin club show or a major convention. 

I have looked at the company’s “Terms of sales” page everything is lined up properly.

There are only 9 lines of reading any potential client could read up in a minute. I find this attitude of the company very valuable because most companies nowadays fail to be transparent. They clarified everything clients should know in an essence.

Team Members

  • Scott D. Sparks – (Owner, President)
  • Dr. Gene Gress – (Chief of Operations Officer)
  • Lance E. Hipps – (Senior Numismatist)
  • Melissa L. Sparks – (Controller)
  • Mike Berton (Senior Advisor)
  • Edwin Leventhal  (The founder, and entrepreneur of JJ. Teaparty, Inc., who established the company in 1957.)

The team may be changed by the time you read this post. You can find the most recent information about the team right here.

Contact Details

Address: P. O. Box 168 – Butler, MD 21023
Phone:1-800-343-6412  /  1-800-758-1510
Fax: 1-410-374-4059
Email:  gene@jjteaparty.com
Business Hours: 
Monday-Friday 8:30 am to 5:00 PM EST
Saturday and Sunday Closed

If you want to sell your coins you are advised to call Dr. Gene.

Want List Program

If you need a particular coin for your collection but you cannot find it, you are not alone. JJ Teaparty has been visiting coin conventions since the 1960s. The company feels pretty sure to find the coins you have been looking for.

They have specifically created the want list program for this goal.

Furthermore, because of their large collector network, JJ is continuously buying coins from their past clients. Because they’ve put so many precious coins in the collections of their customers, they feel to buy them back. 

Whatever the coin you need to find you can confidently contact JJ Teaparty to find the coins you need for a competitive price.

Offered Products 

All offered products are listed on the company homepage. I love the fact that the company is transparently displaying the item prices for the clients. Unfortunately, there are still companies requiring contact with the company in order to get a pricing quote.

By looking at their website I can tell everything seems very sincere and genuine. However, they could design a more professional site since their design and how they provide information seems dated.

Coin sales

The only thing the company does is coin sales. Coins can be either in their inventory or the ones they need to make research to find.

No bullion sales

I couldn’t find any information on their website about bullion sales. It looks JJ stick to numismatic coins and that is it.

No Metal IRA offered

The company doesn’t seem to offer precious metal IRAs. It is not mentioned anywhere on their site they could help people to roll over their assets to gold or silver-backed IRAs. Obviously this is a marketing choice. But most precious metal dealers don’t want to miss that opportunity since it is likely to be lucrative for them. 

No IRS qualified coins list

I would love to see on their website which of these coins are qualified to be included in a precious metal IRA. Even JJ Teaparty doesn’t create precious metal IRAs for their clients, it would still be good to know which of these coins are eligible for IRAs.   

No depository help

I also couldn’t find any information if they work for a depository to help investors storing their coins. Storing precious metals at home is not a good idea. I have earlier mentioned why you should store precious metals in a depository.

If the assets are bought with the money in 401k or IRA, but not with cash, in that case, you would need an IRS approved depository.

Ratings

  • BCA Rating: Not Listed
  • BCA Complaints: Not Listed
  • Google+: Not Listed
  • RipOff Report: Not Listed
  • CitySearch: Not Rated (Details)
  • SiteJabber: Not Rated (Details)
  • Trustlink: Not Listed
  • Yellow Pages: Not Rated (Details)
  • Yelp: (4/5) based on 4 reviews (Details)

The company guarantees all coins to be genuine. This is a very good to know.

Accepted Payment Methods

  • PayPal
  • Visa
  • MasterCard
  • Discover

Alternatively, they can hold an order for a check. It is also mentioned on their site that MD residents will pay 6% sales tax(for purchases less than $1,000.)

Postage

  • $6.00 (For orders $500 or less)
  • $10.00 (For orders between $500 and $2500)
  • $16.00 (For orders over $2500)

Return Policy

Certified coin purchases are protected with a three-day return policy. For the in-person sales if of certified coins return policy is not applicable. There is a 10-day return privilege for non-certified coins.

It is also important to note that product prices may change without any notice. However, this shouldn’t surprise you since most companies in the same industry work similarly. This is because the precious metal prices change really fast. The phone confirmations held for a week.

For the terms of services, you are recommended to visit the company webpage. Since the information you read here may not applicable by the time you read this post.

Conclusion

JJ Teaparty is a small size company considering the long time existence in the market. There is neither a particularly negative review nor something really positive to find about the company. I would say they don’t have much online existence. 

However, that can be counted as a “success” since even much newer companies have too many complaints filed against them that JJ Teaparty is not subject to them.

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