You’re digging through a dusty shoebox in the attic and find a stack of silver quarters. Or maybe you’ve got a handful of gold rings that haven't seen the light of day since the nineties. If you live anywhere near the South Side of St. Louis, someone has probably told you to take them to Midwest Money Co Inc.
But here is the thing: if you just Google the name, you’re going to get confused. Fast.
There are banks, loan servicers, and wealth management firms all tripping over each other with "Midwest Money" in their titles. Honestly, it’s a mess. But the actual Midwest Money Co Inc—the one located at 5900 Hampton Ave—isn't a bank. It’s a legendary coin shop and precious metals dealer that has been a fixture of the St. Louis landscape since 1976.
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The Reality of Midwest Money Co Inc
Walking into a place that’s been around for fifty years feels different. It’s not a sterile corporate office with glass partitions and "innovative" branding. It’s a shop run by people who know the difference between a common 1964 Roosevelt dime and a rare variety that’s worth a mortgage payment.
The company is officially registered as Midwest Money Co., often doing business as Midwest Collectibles. It's a sole proprietorship, which basically means it's the vision of one person—Barry Faintich. He’s the president and the guy who has steered this ship through the gold booms of the 80s, the crashes of the 2000s, and the wild market we’re seeing right now in 2026.
People go there for three main reasons:
- They want to sell scrap gold (broken jewelry, dental gold, old chains).
- They are "stacking" silver or gold bullion to hedge against inflation.
- They are serious numismatists looking for graded coins from the PCGS or NGC.
Why the Name Causes So Much Confusion
If you search for "Midwest Money Co Inc" and start reading horror stories about mortgage escrow accounts or missing wire transfers, stop. You are looking at the wrong company.
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There is a massive entity called Midwest Loan Services (a division of University Bank) that handles thousands of mortgages. People get frustrated with them all the time. Then there's MidWestOne Financial Group, a big-time regional bank holding company.
The Hampton Avenue shop has nothing to do with your mortgage. They aren't going to help you with a car loan. They buy and sell physical, tangible assets. If you can’t drop it on a table and hear it clink, they probably don't deal with it.
What Actually Happens Inside the Shop
Most folks walk in with a sandwich bag full of "junk silver." That's the industry term for pre-1965 U.S. coins that are 90% silver. At Midwest Money Co Inc, they don’t just give you a "best guess" price. They trade based on the "spot" price—the current market value of raw silver or gold.
It's a fast-paced environment. You might see a collector haggling over a Morgan Silver Dollar in one corner and a guy unloading a bucket of sterling silver flatware in another.
The shop deals in:
- Scrap Gold: Anything from 10K to 24K.
- Silver Bullion: American Eagles, Canadian Maples, and 100-ounce bars.
- Paper Currency: Large-size "horse blanket" notes and rare confederate bills.
- Military Collectibles: They actually have a niche in military medals and memorabilia, which most standard coin shops won't touch.
The "Old School" Vibe and What to Expect
Let’s be real: the service isn't always "Disney-style" bubbly. If you check out local forums or subreddits like r/StLouis, you’ll see the same sentiment repeated. Some customers find the staff incredibly knowledgeable and fair, while others feel the "old school" attitude can be a bit blunt if you walk in unprepared.
It’s a high-stakes business. They are dealing with thousands of dollars in cash and metal every hour. If you want a warm hug, go to a bakery. If you want a fair price for a Krugerrand, you go here.
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One thing they do better than almost anyone else in Missouri is free appraisals. Most places want to charge you a percentage just to tell you what your stuff is worth. Midwest Money Co Inc generally does assessments for free if you're looking to sell, which is why they’ve stayed in business since '76.
Is It Legit?
In the world of "We Buy Gold" shops that pop up in strip malls and disappear six months later, Midwest Money Co Inc is an outlier. They are BBB accredited and have been for over twenty years. That matters.
The precious metals market is currently hovering at historic levels. In January 2026, we’re seeing gold and silver prices that make those old jewelry boxes look like literal treasure chests. Because of this, shops like this are busier than ever.
Actionable Steps for Your First Visit
If you’re planning to head down to Hampton Ave, don’t just show up with a pile of tangled necklaces and expect a check in two minutes. Do these things first:
- Check the Spot Price: Before you leave the house, look up the current price of gold. It changes by the minute. You should have a ballpark idea of the value.
- Don't Clean Your Coins: This is the biggest mistake rookies make. If you have an old coin, do not scrub it. You will strip the "mint luster" and kill the collector value. A dirty rare coin is worth way more than a shiny, scratched-up one.
- Sort Your Metals: If you have time, separate your 10K, 14K, and 18K jewelry. It helps the process move faster and shows the dealer you know your stuff.
- Bring an ID: Because they buy precious metals, state law requires them to record your identification. It's a standard anti-money laundering and theft prevention measure.
- Call Ahead for Large Volumes: If you’re trying to move a massive estate collection or fifty pounds of silver plate, give them a ring at 314-481-0770. They might want you to come in at a specific time when the senior appraiser is available.
The business isn't fancy, and it isn't trying to be. It’s a local pillar for people who understand that sometimes, the most reliable "money" is the stuff you can hold in your hand. Whether you’re an investor or just someone who found a weird coin in the CVS parking lot, knowing the difference between this local staple and the big banks will save you a lot of headache.