Long Island Rare Coins and Currency Review

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Finding a coin dealer you can actually trust in the New York metro area is harder than it sounds. The market is crowded, counterfeits are a real problem, and most buyers walk in without knowing what their collection is worth.

Long Island Rare Coins and Currency, based out of Massapequa on Broadway, has been operating in this space for over 50 years.

Owner Buddy Alleva started in wholesale numismatics decades before opening up his services to individual collectors and investors, which means the inventory and pricing reflect genuine wholesale knowledge rather than retail markup dressed up as expertise.

Key Takeaways

• Buddy Alleva has over 50 years of numismatic experience and has been a Professional Numismatic Guild member since 1989.
• The shop is an authorized submission center for both PCGS and NGC, the two most trusted third-party coin grading services in the country.
• Services go beyond buying and selling: appraisals, precious metals IRAs, auction representation, and authenticated bullion are all available under one roof in Massapequa.

Who Is Buddy Alleva?

Alleva is not a hobbyist who turned his passion into a business. He has been active in the numismatic industry as a major wholesaler for decades, and his credentials are unusually deep for a regional dealer.

He holds membership in the Professional Numismatic Guild (PNG), the American Numismatic Association (ANA), Florida United Numismatists (FUN), and the Central States Numismatic Society.

His PNG membership goes back to 1989, and his relationship with PCGS and NGC as an authorized submission center spans more than 30 years.

He also received the Sol Kaplan Award from the PNG's Anti-Counterfeiting Task Force. The award recognized his volunteer work helping federal law enforcement agencies identify counterfeit coins that had arrived through the Port of Long Island, mostly from China.

That is not a resume line most dealers can claim, and it explains why authenticating the coins you buy or sell through Long Island Rare Coins is a genuine priority rather than a policy footnote.

The Local Market Context

Nassau County and the broader Long Island region have a dense concentration of collectors and investors who are actively buying and selling numismatic items.

Pre-1933 U.S. gold coins, Morgan silver dollars, and certified key-date pieces move regularly in this market, and prices track national auction data fairly closely.

The proximity to New York City also means competition is real: dealers in Syosset, Patchogue, Rocky Point, and Bellmore all serve overlapping audiences.

What separates Massapequa as a market hub is that Long Island Rare Coins brings wholesale-level inventory to a retail-facing storefront. Most smaller Nassau County dealers are primarily buyers or focus on bullion.

Alleva's shop stocks a wider spectrum, from Colonial-era pieces and early American nickels to modern commemoratives and IRA-eligible bullion bars.

Here is a snapshot of how the local market currently stacks up:

What the Shop Actually Sells

The inventory spans a broader range than most single-location dealers carry. Categories on the website include:

Specific bullion examples listed include the 1/4 oz Gold American Eagle, the 1 oz Gold Philharmonic, and 10 oz gold bars.

On the numismatic side, pieces like the 1773 Virginia 1/2 Penny (PCGS certified) and the 1804 Half Cent NGC-graded have appeared in inventory.

Prices are posted directly on the site, which removes the friction of asking for a quote before knowing if an item fits your budget.

Services Breakdown

Buying and selling coins is the core business, but it is not the whole picture. Here is what Long Island Rare Coins offers beyond standard transactions:

The IRA toll-free line is 1-866-355-2646. Appointments are available outside of standard hours, though the regular schedule runs Monday through Friday, 10:00 AM to 4:30 PM. The shop is closed on weekends.

Pricing and Transparency

One of the more practical differentiators here is that prices appear directly on the website. That matters in a market where many dealers list inventory without prices, forcing buyers into a call or email just to determine if a coin is in their range.

 Transparent pricing also tends to filter out time-wasting negotiations, which benefits both sides of a transaction.

The unconditional money-back return policy on normal transactions adds a layer of confidence for buyers who are newer to the market.

Collecting rare coins carries real risk if you are not certain about a piece's grade or provenance, and the ability to return a purchase is not a given at every dealer.

What Customers Say

Yelp listings and collector directories reflect a consistent pattern in the feedback. Customers who came in to sell inherited or estate collections describe the process as transparent and fair.

One Yelp reviewer described taking a significant coin collection through the shop and walking away satisfied with both the assessment and the outcome.

The recurring themes across platforms are pricing fairness, professional knowledge, and honest dealing.

The eBay storefront, which has logged over 2,800 sales and carries a 100% positive feedback rating, reinforces the in-store reputation.

For buyers who cannot visit Massapequa in person, the online channel provides access to the same inventory with a documented track record of clean transactions.

Counterfeiting in the Local Market

This is worth addressing directly because it affects any collector buying in the New York region. A significant volume of counterfeit coins has entered the U.S. through the Port of Long Island in recent years, primarily from China.

Alleva's involvement with the PNG Anti-Counterfeiting Task Force, and specifically his volunteer work with federal law enforcement to identify those fakes, is not just a credential.

It reflects a dealer who understands the mechanics of how counterfeits enter the market and what to look for when evaluating a coin.

For collectors buying certified coins, the PCGS and NGC slabs provide a layer of protection. But for raw coins or inherited pieces of uncertain origin, working with a dealer who has hands-on anti-counterfeiting experience is genuinely valuable. That kind of expertise is rare at the regional level.

Accessibility and Location

The shop sits at 577A Broadway in Massapequa, NY 11758. It is accessible via the Long Island Rail Road, with the Massapequa station within walking distance.

For collectors coming from Suffolk County or closer in toward Queens and Brooklyn, the location is convenient without requiring a trip into Manhattan.

Who This Shop Is Best Suited For

Long Island Rare Coins works well for several distinct buyer and seller profiles:

Newcomers to coin collecting may find the inventory breadth a little overwhelming at first.

The shop leans toward serving people who already know roughly what they are looking for, or who are willing to ask detailed questions. 

The learning curve is real, but the knowledge available at the counter is also real.