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I think coconut oil does everything cold cream does; makeup remover and moisturizer. Plus it doesn't contain petroleum products, parabens, or pthalates.
Noxzema contains essential oils which make it a beauty product subject to FDA regulations as far as manufacturing goes. I used to work for Cover Girl, which also manufactured Noxzema skin cream, and knew the formula for the cream (which was a tightly held company secret.) Noxzema has to be refrigerated after the cream is manufactured to create the crystalline structure that produces the characteristic "crunch" when you first put your fingers in the jar. Cold cream is a very different product.