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Aurum Advisors/GoldCoinsGain.comAfter Payment, Orders not completed or incomplete Quantities shipped

W Review updated:

After my Orders were placed, prepayment was requested. One Order was finally completed after 2 1/2 month and many follow up Calls.
Another Order, after 3Month, is completely ignored. A 3rd Order was finally received, but fell short by 25%. The Packing Slip however indicated comletion of the Order. Followup Calls are ignored!!! This appears to be a fraudulent Scham Operation and if nothing else, a Warning "RED LIGHT", should go up, to prevent other Gold Buyers from getting cheated.

More Aurum Advisors/GoldCoinsGain.com Complaints & Reviews

Responses

  • Sa
    samantha canta May 18, 2009

    This clients has received all of the precious metals that were ordered from us in the above complaint. This client has also placed two aditional orders with us and sent us funds after the above complaint was made.

    Samantha Canta
    Customer Relations

    -2 Votes
  • Bo
    Bob Staten Island, NY Nov 17, 2009

    I made a big mistake placing an order with Aurum Advisors. My Original order with them was for Gold Vienna Philharmonics, the sales representative told me that would be a foolish because in the future Austria could recall all their gold coins like the United States did, he then recommended that I should purchase French Francs because they can’t be recalled. I foolishly took his advice and bought the coins, but later after reading this board and found the many complaints against Aurum I investigated his claim.

    What I found out was that the French Francs are only .9 percent gold where the Philharmonics are .9999 percent pure gold. Besides getting ten percent less in gold the cost per Franc was twenty percent higher per ounce then the Philharmonics. I immediately called Aurum requesting they cancel the order since they didn’t ship the gold to me and refund my money.

    They sent me a check within a week but it was $630 less then what I sent. When I called to complain they agree to send me an addition check plus the increase in the price of gold since my purchase.

    It is now going on two weeks and no refund. I’ll give them another week and then I file complaints with the New York and Californian Attorney General’s Office the Federal Trade Commission, but first I’m going to forward this to them with the hope that they will expedite the refund check to me overnight otherwise I have to proceed with legal action.

    2 Votes
  • Pe
    PennVict Jan 19, 2010

    I am from Pennsylvania. I also made ths same mistake. I wrote a check and was told the check has a problem. Then, I sent another check by priority mail. After calling them for many times, I am really dissapointed now. One person was keeping telling me " to ship next week". I do not think they have anything as listed on the website in hand. This time when I called, he said, "you keep pissing me". So I have to set out file a complaint soon.

    2 Votes
  • Bo
    Boba Mar 05, 2010

    I am still waiting 40 days for 10 Bufflo,
    Sure wish I had seen this complaint first.

    3 Votes
  • Bo
    Boba Mar 05, 2010

    Ordered 10 Bufflo coins, they wanted me to switch to franks, declined.
    45 days and still no coins.

    2 Votes
  • Rl
    RLT1 May 24, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Sent check 26APR10. Check cashed 03MAY"10. Now 24MAY10 - no tracking number, no coins, no reply to emails. Ripoff. Am proceeding to file complaints with FTC, FBI, and any other agency that I can to apply pressure to these a_ _ holes.

    2 Votes
  • Vi
    VictimClub Jul 31, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I am also like you guys, I had lot of interest in doing some investment in Buying Gold and some how I was convinced not to buy bullion coins because price are very volatile. Unfortunately I was brainwashed by their representative, asked to be buy private coins. I ordered for Bullion coins and they sent me private coins at the same price that I agreed to pay for Bullion Coins. When I received an order, I found I paid almost 30% more than what it cost in the market. I was helpless, I was being pissed off so badly, that I am stuck with purchase. So be careful, make sure that many comapny do have return policy of returing an item within 7 business days for any reason if you are not satified with purchase. However when you buy from Aurum Advisors, all sales are final and after that you will regret for rest of your life. So I would say their prices are amonst 40 to 50% more than actual cost of coins and it will be really hard to liquidate if you purchase at very high price. So never buy from them without confiming an order in writing.

    2 Votes
  • Ar
    Art Lund Nov 27, 2010

    It is November of 2010, and they are still playing the same games.
    1. Not shipping what was ordered
    2. Not returning money for weeks
    3. Necessary to be on the phone constantly.

    1 Votes
  • Wi
    william1978 Dec 21, 2010

    Aurum are rip off's, their rating with the L.A. B.B.B. is dropping and if they keep ripping their rating will keep dropping.

    1 Votes
  • Da
    David M. Tyer Jan 08, 2011

    My experience was much the same with Aurun. Their representative (Michiel Rava) lied to me from the very beginning. I am retired and trusted them with over $20, 000 of my IRA funds. Rava told me that Sterling Trust only accepted proof coins (not true). I believed him and thought I 'bought' proofs. Three months later, Sterling sent me a quarterly statement showing that my account was valued a eight dollars and 55 cents. There were no coins! They probably never existed in this shell game. Like the rest of you, most calls to them would not be answered, messages not returned, promises made but not kept, no paper trail, more lies told and secret vo0-d0o math as their only guide. I cashed out just to end this four months of hell. I have had good results with Monex and Trent Frisina. The real U.S. Mint is pretty cool too!

    0 Votes
  • Is
    Ismil Jan 12, 2011

    Well the best part would be they will take your full advantage out of not knowing how the market works and what is the best price that you would have to pay for it. They will never give you what you are aware of because their profit will be minimum and that is what they don't want. They will always try to sell the items which has lowest market value at the highest possible price that they can get from you. Remember that selling coins is the Bread and Butter for the people who talk to you and they will say they have bought same coins for their personal investment and I would say you will believe them 100% but before buying or paying read their agreement which says they have almost more than 25% - 33% of margin over the actual value of the coins so when you will try to sell those coins in short time, you will not get even the price that you have paid and then you will have no other option but to sell those coins back to Aurm Advisors and you will have to wait for atleast 2 to 3 years to recover your base value.

    0 Votes
  • Ma
    Marc G Lubaszka Feb 01, 2011

    Over the last three years a total of ten complaints have shown up on this page against Aurum Advisors on Complaints Board. Only 4 of those complaints are true complaints which have been addressed with the client and the BBB. These complaints make up less than a small fraction of 1% of all of our satisfied clients. I wanted to take the time to address each and every complaint publically as they have recentky just been brought to my attention. The 1st conplain by Willian Schilling was happy with the price he paid, asked us to hold onto his metal because he was going on vacation, we shipped all o0f his metal out to him from his first order and he continued to buy two additional orders from us which we have delivered. Bob From Staten Is. was satisfied with the end result and ended up resolving the misunderstanding between our company and himself. Art Lund purchased gold from us, we saved him aproximately $50 per coin below the price he agreed to pay. We saved him about $400 to $500. We sent him a partial refund in a timely manner and sent the gold that he bought. David Tyre burchased gold outside of a retirement account and sold that gold back to us at a profit. He also bought gold inside of a retirement account and chose to sell that metal back to us and we agreed. Our ultimate goal is to resolve disputes in a way that satisfys the consumer. We are 100% dedicated to doing what it takes to satisfy customers. Penn Vict, Boba, RTT1, Victim Club, William1978, and Ismil are all fake names and are not in our database of customers. If these false names do infact have actual complaints we are open to getting the complaints resolved and satisfied in a timely matter. Please call us if that is the case so we can help resolve whatever it is that you are finding unsatisfactory.
    MARC LUBASZKA
    President
    Aurum Advisors
    1801 Century Park East Suite 2500
    Los Angeles CA 90067
    310.556.9667

    0 Votes
  • Ma
    Marc Lubaszka Feb 03, 2011
    This comment was posted by
    a verified customer
    Verified customer

    Response to letter sent by David Tyre to my Legal Team which was dated Feb 29th 2011 (today is Feb 3rd 2011)
    In another attempt for a desperate consumer who has run across a set of unfortunate personal circumstances to attempt to legally assort money from a company that appears to be growing financially, we respond to David Tyre. The customer who is painting himself and his family out to be a victim of certain improprieties and who is now irresponsibly making allegations that cannot be supported by any type of evidence what so ever. David contacted our company after he had the opportunity to do his research. We did not contact him initially. The initial purchase of precious metals he made from our company is reflected in invoice dated 8/16/2010 for a total of $11, 970. He took possession of the metal without complaint of receivable or inspection of the metal. He then decided to sell the metal back to us as reflected in purchase order dated 12/22/10 for $12, 572. Now, at the same time, he acquired a precious metals position independent of this occasion. He purchased another position on 9/1/10 for $20, 749.24 and chose to sell that metal back to us on 12/21/10 for $19, 024.86 – We accidentally sent David a check for his first liquidation twice. Each check was made out for the same amount $12, 572 so there could be no mistake on David’s behalf that an accounting error occurred and rather than notifying us he simply deposited both checks into his account. By the time we discovered the mistake internally, we had already sent out a check for $19, 024.24 to complete the second liquidation. We immediately spoke with David who assured us he would return the funds that were accidentally sent to him. He assured us he would return the $12, 572 but never did. It was after he did not return the funds that we stopped payment on the check that was issued for $20, 749.24 - A follow up call was made by our firm to David asking why he failed to return the money that was not rightfully his and we explained at that time that we wanted him to return the funds that did not right fully belong to him from the first transaction and we would be happy to send the $19, 024.24 as promised for the second transaction. We have not in any way acted to “defraud” Mr. Tyre but we do empathize with his situation. Seeing an opportunity to wrongfully accuse a company that has done everything that the customer has asked, made a mistake by sending the customer too much money, and not wanting to see the money returned would not be a good business practice for anyone. Attempting to keep money that is not rightfully yours is not only unethical but has never been the policy of our company. Unfortunately, in this economy, under stressful situations we are seeing attempts to harm good companies by consumers who are desperate. It seems anyone can say whatever they want to say or do online in order to attempt to take advantage of companies. Unfortunately, for Mr. Tyre, we see this behavior as unacceptable and it was our experience with Mr. Tyre that forced us to put even greater internal restrictions on how transactions are conducted to better protect ourselves and our current/future customers. We would be more than happy to correct the situation at hand and will be waiting for an acceptable resolution from Mr. Tyre. Our prayers are with his wife.
    Your Truly,
    Marc Lubaszka
    President
    Aurum Advisors
    1801 Century Park East Suite 2500
    Los Angeles CA 91607
    310.556.9667

    0 Votes
  • Ma
    Marc Lubaszka Feb 03, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I just wanted to make a slight correction to the comment I posted on Feb. 3rd 2011 above about David Tyre.
    "We immediately spoke with David who assured us he would return the funds that were accidentally sent to him. He assured us he would return the $12, 572 but never did. It was after he did not return the funds that we stopped payment on the check that was issued for $20, 749.24" - the correction is we syopped payment on a check that was for $19, 024.86.
    Marc Lubaszka
    President
    Aurum Advisors

    0 Votes
  • Mi
    Michael Rava Feb 07, 2011

    Mr Tyer:

    Understand that my delay in responding to this libelous allegation is a consequence of the fact that it was only just brought to my attention. How dare you allow your faulty retention to impugn my integrity. I do not under any circumstances lie to my clients. You will recall that after outlining the distinction between modern bullion and semi-numismatic pre-1933 gold, you expressed a preference for the pre-33. In keeping with your preference I did in fact sell you pre-33 semi-numismatic gold coins which you subsequently liquidated for a profit. I suspect that herein lays the source of your faulty recall, as in the midst of this transaction you expressed your interest in populating your IRA with pre-33 semi-numismatics wherein I immediately advised you that pursuant to IRS guidelines semi-numismatic pre-1933 gold is not permissible in an Individual Retirement Account and that your options were limited to modern bullion. Furthermore, and most importantly as far as the metals selection for your IRA, you know that the discussion / negotiation did not involve me but in fact transpired between you and the head of the IRA department. Moreover, I can only conclude that your faulty memory is selective. As in the wake of your selection of proof for your IRA, at no time when you were contacting me to unwind that which I was not involved in, did you even suggest, much less assert that I or anyone else had lied to or misled you. Candidly sir, yours is a gross fabrication. You have recklessly libeled me and owe me a public apology and retraction.

    Respectfully,
    Michael Rava

    0 Votes
  • Id
    idiotsrule Mar 02, 2011

    I just want to make an observation. These idiots from Aurum Advisory cannot seem to even manage to spell Mr. Tyer's name correctly. The lack of attention to detail does not really spur on my confidence in their ability to properly manage an investment. Putting that aside for a moment, I am also shocked and amazed at the firms willingness to post this level of detailed transactional information about a client online. I would guess it is at best legally protected personal information and at least an extraordinary lack of tact on the firms behalf, regardless of their relationship with the client. That alone would stop me from ever doing business with this company. It speaks volumes about the level of professionalism of Mr. Rava as well as Mr. Lubaszka. Leadership begins at the top and if the president shows a lack of integrity, as seen above in this thread, I can only imagine how ethically challenged middle management and lower level "talent" may be.

    Regards

    2 Votes
  • Da
    David Tyer Mar 06, 2011

    Hi Folks, I am back for the first time this year. It is not my favorite site-like going back to the scene of a mugging. If I was vague before, I'll clarify Michael Raza is a bald faced liar and Aurum is a Ponzi based fraud operation. They charge double or even more than the fair market value for whatever goods they sell with an unwritten and therefore worthless promise to buy it back someday at some pie in the sky amount of their own choosing. This is assuming that they are not out of business or in jail. On 401k's they say they charge a 4% commission but when you factor in the 100% to 200% mark up on the merchandise, it goes to a ridiculous number. In addition in my case, there never was any merchandise. I bought silver at triple the going price on September 1, 2010 and they were so snide, they bothered to buy any silver with my 401k money. Aurum meets the true test of a Ponzi scheme; When they go out of business just like with Madoff's customers, their customers will lose most of their money. I reported these lazy bums to the FBI using the Internet Crime Complaint Center @ http://www.ic3.gov/complaint/default.aspx. The more people that report their fraud for what it is, the more likely they will be prosecuted so please, fill out the forms despite your embarrassment. Also, you can contact the attorney general of California @ http://ag.ca.gov/consumers/general.php and the BBB @ http://www.la.bbb.org/ComplaintDetail.aspx?CompanyID=100000799 and report these crooks.

    2 Votes
  • Is
    Ismil Apr 21, 2011

    I think you are right. Normally they would not give you a complete picture when you buy coins. Once you buy then forget about it. They will never come back to you because you have already paid such a high price and they know that you will not be able to sell them to any other company, you will go back to them. Most customers they have are like one time customer, they will realize after they buy first time and they will not go back to the same company and I don't think they would also call their old customer because they know that at some point of time buyer will come to know that he/she has already paid such a high price and so they will not come bak to them. I would suggest to go some other company APMEX, BLANCHARDONLINE or MONEX these companies are much better and they will at least pick up a phone and will talk to you.

    0 Votes
  • Lo
    loyallion Apr 26, 2011
    This comment was posted by
    a verified customer
    Verified customer

    done DavidTyer, ic3.gov done.

    0 Votes
  • Fo
    Former gold employee Jun 21, 2011

    Marc Lubaszka is a Criminal. He will go to Jail for Tax Evasion very soon. I've heard he has millions of dollars of gold buried in his parents back yard. It's literally just a matter of time before this crazy ### gets caught. He has NO friends, and keeps people around him by paying them $$$. This is fact! I used to work for the guy. He has a horrible temper and blows up at the people around him daily. ### You Mark.

    0 Votes
  • Jo
    Joe Pir Aug 02, 2011

    I have been trying for a 1.5 yrs to get a return call from this company. Either everyone I asked for is on the phone or they don't work there anymore. Purchased 50K of gold coins for my ira and no one can tell you what's going on. If your thinking of Gold go somewhere that will call you back.

    0 Votes
  • Jo
    Joe Pir Aug 02, 2011

    Been trying for 1.5 years to speak with someone at Aurum, everyone is always on the phone or doesn't work there . I have been waiting for a return call for months. They take your money and that's it. Purchased 50K in gold proof coins that Sterling Trust valued at 26K. Also salesman Tom Cassidy who no longer works there sent me a letter stating that Aurum fee was 5% built into the price. I think its about time to contact Attorney General, FBI. BBB, and so on.

    0 Votes
  • Jo
    jose55 Dec 01, 2011
    This comment was posted by
    a verified customer
    Verified customer

    I made 2 orders, respectively on 26 sep and 6 oct 2011. I have been calling at least 2 times every week after not receiving anything. Then when I finally get Marc on the phone he tells me that he cannot ship the coins any longer because it would be illegal to ship past 30 days of placing the order. A lot of phone calls and promises later, I got 1 check back with the incorrect spot price difference, but the order made on 26 sep 2011 has never been filled; my check was cashed but still do not have my monies. I contatced my attorney and try to settle the "quiet" way first before we go to court. I am now waiting more than 2 months to just my own monies back.

    0 Votes
  • Pa
    Paul69 Dec 20, 2011

    I have placed an order and funds were disbursed from my bank on October 24, 2011. It is December, 20 and no delivery has been made. I have already called and left many messages and finally spoke with someone there that told me my purchase is late and I will have to wait some more. This is just not right and not acceptable for a company that promisses to deliver in 4 weeks.

    0 Votes
  • Gu
    guta24 Jun 08, 2012

    Hi All

    i have a similar story with aurum advisors. They en-cashed my cheque 3 months back and it was big amount about 10k+. no body picks up the call ever and they never return calls. the were telling me stories since last month and now they never pick up the call or return voice mails. How did u guys go about chasing them. did u eventually get your refunds back? i have already complained to BBB, FTC and California attorney general.
    what should i be doing to catch them. I'm in NYC and they are in LA. thanks for helping,
    I will offer 500$ as gift for anyone helping me recover my money from them.
    thanks for the help in advance,

    0 Votes
  • Hg
    H G in Clovis Jun 18, 2012
    This comment was posted by
    a verified customer
    Verified customer

    Look here, and try to call the number. http://www.complaintsboard.com/complaints/aurum-advisors-fraud-c611685.html
    All of their victims need to get together and do something. They had the same MO: take your money, and never return calls. I've been calling them a few times daily, for the last month but they never returned my calls. All of them are ###: Marc Lubaszka, Barry Davis, Stuart, and the now gone Robert Drake.

    0 Votes
  • Do
    doc432 Apr 10, 2014
    This comment was posted by
    a verified customer
    Verified customer

    I have been a victim of Aurum Advisors/GoldCoinsGain.com
    stole my $1700.00 sometime in 2012, after ordering one ounce of gold coin, and never received, try to call and e-mail but no result. File a complaint with California Board, and there was nothing they could do. Robert Drake and the whole staff have been gone somewhere after stealing a lot of money from all of over those who are interested in investing in gold. Feel bad doing business online like this. Never again.

    0 Votes
  • St
    Steve Gern Aug 26, 2020
    This comment was posted by
    a verified customer
    Verified customer

    None of these folks will ever see a dime of their stolen gold.
    I know I lost 50K and pursued Labaszka for years.
    He fled to South America, buy is back in the USA and still swindling folks.
    A very intelligent and evil weasel.
    I am still looking.

    0 Votes

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