6/7/2010 2:28 PM (PST)
Hi Richard,
This company has received 30 complaints at the BBB. Complainants allege that gold coins or precious metals purchased from the company are not delivered as agreed. Some complainants report waiting many months, but receive only statements indicating that purchase is pending. Other complainants report they are unable to obtain refunds of their invested funds without substantial penalty fees. In some cases fees associated with refund requests are 25% of the amount invested. Some investors report that investment funds paid in 2008 to purchase gold to fund gold backed IRA accounts, still has not been delivered, The company responds to some complaints by stating that the metals in question are already delivered, by providing future expected delivery dates, or by offering to liquidate the account per terms of the investment contract at a 25% loss to the investor. Some complainants dispute the responses, and report the company failed to follow through on projected delivery dates for the metals contracts.
I would suggest filing a complaint by clicking on "View BBB Report" above and then "File a Complaint" on the left hand side of that report. It looks like they've responded to 20 of the 30 complaints filed, so it's worth a try.
Good luck!
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6/7/2010 2:37 PM (PST)
Richard,
Gold investments are a risky venture. The BBB recommends caution when considering any precious metal investment. Such investments are considered high risks based on the facts that relative commodity markets fluctuate rapidly and ultimate value may depend solely on the price a collector is willing to pay. Precious metals investments are suitable only for those who can bear the risk of substantial loss.
This company has an F rating with the BBB in lieu of the nature of the complaints and the lack of response from the company.
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