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First Fidelity ReserveCoin Rippoff

1 Review updated:

This coin company, First Fidelity Reserve, is ran by a crook named Mike Fuljenz who has ripped me off before at another Texas coin company. He apparently "works" for several of his own companies and is continuing to rip collectors off. By mistake i responded to an ad in the Robb report, and was hammered by a pushy sales guy who was rude and tried to sell me everything, but what i wanted to buy. They would not stop calling me and were rude to my wife.See the Top 10 Worst Complaints in Beaumont, TX When i talked to the manager Matt Wiley I discovered he was the same guy who ripped me off a couple years ago. I tried to get a refund from him on some coins and never got my money back. I paid about 5 times what i should have. I guess he is out of prison. The last i heard he was being sued for millions and so i gave up trying to get my refund. Avoid this rip off company completely unless you just like being insulted and ripped off. This speaks loudly about the Robb report. I guess they do not check out the criminal background of those they deal with.

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Comments

  • Ga
      Jan 17, 2012

    This October 30, 2011 posting by "Ripped Off CoinBuyer" is virtually identical to postings by the same person regarding two other Texas based retail coin companies made on the same day. Additionally, these postings are virtually identical to a previous posting regarding another Texas based retail coin company. It is obvious these postings are copied and pasted with a few minor changes. Certainly, this is the work of an unscrupulous competitor attempting to utilize this site to publish defamatory statements. These are the types of anonymous postings that should be removed by moderators.

    +3 Votes
  • FYI for the readership: Gary Linthicum who wrote the 17th of Jan, 2012 response to "Ripped Off CoinBuyer" is the attorney for First Fidelity Reserve and for other companies owned by the person identified in the 2010-10-30 post by Ripped Off CoinBuyer. This is his business contact information:
    Gary J. Linthicum
    Attorney at Law
    6840 Phelan Boulevard
    Beaumont, Texas 77706

    My suggestion to anyone who has an experience like that of Ripped Off CoinBuyer is to e-mail the Better Business Bureau of Beaumont, Texas, and/or the Office of the Texas Attorney General. The contact information is:

    Better Business Bureau

    Texas Attorney General's Office: Public Information

    0 Votes
  • 11
      Oct 21, 2017

    @Info 4 Coin Investors Everywhere 1st fid.res.offered a IRA rollover fund in goldstar, 80t now worth 30t in6mos, who do i contact to sue for IRA fraud, IRS, LAWYER, ATTORNEY GENERAL?[protected]@gmail.com

    0 Votes
  • Sp
      Feb 08, 2017

    I was curious, regarding First Fidelity Reserve's advert in the AMAC magazine. It seems that they are selling 2017 $5 Gold American Eagle coins for $126.56. Now I don't wish to come across as a bit of a thicky, but it seems that in buying a $5 coin for $126.56, that I would be out $121.56 on the deal. Was going to contact company, and ask for clarification. Alas, McAfee Web Gateway views them as a forbidden domain. Had to laugh when I read the fine print in their ad that "Coin images...are not to scale". Pictures blown up about 500 - 2000%, I should think, with gold being a heavy metal, and the coins only being 1/10 of an ounce.

    0 Votes
  • Gr
      Oct 01, 2019

    @Spike3 Hopefully by now you know that the face value of a coin is not the full value. Example, a $50 American Eagle coin is 1 troy ounce of Gold -- the face value is $50 but the actual value changes with the price of Gold.

    0 Votes
  • Ju
      Oct 27, 2017

    Hey, Nationwide has offered $5.00 Gold Coins the size of a Dime for $105. to $110.00 & still doing so [27 Oct 017] with a flat $38. SH which actually cost them less than $10. all another $18. to be added to one Coin or the Total of 5 Coins. $550.00 + $38.=$588. -$10.=$578. divided by 5 U just paid $115.60 for a Coin Advertised at $110. These high-cost SH Costs are a real racket and should be stopped. Honesty in the Coin & Bullion Business is like a Jewelry Store-How many fake Diamonds or other precious stones do U sell B4 they are found out as a DISHONEST OPERATION. If you can't make an honest buck in the Gold & Silver Business then maybe U should change Careers.

    0 Votes
  • Ja
      Feb 25, 2018

    It's obvious the people making these complaints know nothing about coins. My suggestion would be for these people to search around and see what other coin sellers are advertising and selling. Coins have a specific value depending on the type, age, rarity and whatever the market will bear. I hope they can avail themselves of better information than they have now.

    0 Votes
  • Ro
      Oct 01, 2018

    How ignorant can YOU possibly be.

    +1 Votes
  • Gl
      Dec 11, 2018

    A one dollar american silver eagle uncirculated coin is $46.95 from the US Mint. So VERY skeptical First Fidelity Reserve can sell them for $17.21. Sounds like a scam to me.

    +1 Votes
  • Gs
      Jan 07, 2019

    @Glenhilda The US Mint sells several different varieties of the $1 American Eagle. The $17 version sold here is the uncirculated coin. The US Mint offers a volume discount to dealers such as this. The $47 version you reference here is for the PROOF coin, which always commands a much higher premium.

    And as for the gold coins referenced above, the $5 value attached to the coin is required by law. Yes, you can go spend your $125 1/10th ounce gold coin for the FACE VALUE of five dollars, but you'd be ignorant of coin and bullion collecting and investing. Just sayin'...

    +2 Votes

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