Aurum Advisors/GoldCoinsGain.com reviews and complaints

It is my belief that Aurum Advisors (AA) is in breach of a contract agreement and failure to deliver precious metals within 28 days (as stated in the AA Shipping and Transaction Agreement and violates AA Ethical Guidelines 2011, Item #2) and delivered 45 business days later to my IRA account. The order (250 Silver Eagle Proofs w/ Certificate of Authenticity, Various Dates)with dates being purchased in the period of [protected] per Barry Davis and a 4% premium (because these were considered bullion coins, not semi-numismatic and later re-confirmed with Barry Davis at a later date and with Stuart and Patrick, AA managers) was placed on December 2, 2010, funds were wired from Sterling Trust on December 6, 2010 and metals were not received until February 17, 2011 (54 business days later). I have placed numerous phone calls (8 during the period December 9, 2010 to March 2, 2011 and have only had 2 return phone calls). I previously, have had difficulty in getting a callback to getting pricing and purchase execution (27 phone calls with only 8 callbacks). I repeatedly asked for written documentation on purchase confirmation (finally received something over 30 days after purchase order executed); confirmation of delivery (never received any written documentation and/or tracking); and written documentation of asset valuation (I never received). Sterling Trust is presently valuing these coins at $12, 833 ($7, 754-representing a 38% loss from my initial investment). The silver market has not shown any loss since the purchase order was placed; only appreciated in value. Therefore, it appears that there was misrepresentation of coin value, misrepresentation of premium over spot “spread” and selling at unreasonable prices. This violates AA Ethical Guidelines Items #1, 4, 9, and 11 by not providing sound advice, misrepresentation of coin value, misrepresentation of premium "spread", selling at unreasonable prices, high pressure sales techniques, misleading performance data, and AA stating that they respect their written and oral contracts.

My business relationship with Barry Davis, account rep. started out great until the order was placed and rapidly deteriorated. Afterwards, I cannot get him to call me back. I have repeatedly called AA managers (Marc, president, Stuart, and Patrick, for assistance, who have told me that they would get right on it and have Barry call me back. No callback from them or Barry (except once from Marc to answer a voicemail that I left but gave no solutions). Also, never received any written documentation of order until 30 days later after repeatedly calling them (document was printed sloppily with letterhead on top and letterhead upside down on bottom-very unprofessional and sloppy work product); no documentation of delivery tracking, no documentation of asset valuation (Patrick stated that this could be done almost immediately- no callback, email, or mailing since March 2nd). So I only have the Sterling Trust asset valuation to go by which is presently showing I have repeatedly felt that they were doing anything to get me off of the telephone. They were very superficial and "syrupy" on the phone yet very demeaning on why I would be questioning them on order execution, delivery, and asset valuation.

I recognize that an IRA account is long-term but have not been able to establish what the asset valuation is as a baseline from AA. Because AA has not provided any written documentation of asset valuation, this is based on the other option I was given at the time of purchase of (1oz. Silver Eagles Uncirculated at $26.07/coin. The present market value of this coin is $37.41 (Ref. APEX buy price Mar. 5, 2011- 43% appreciation). Therefore the asset valuation for my portfolio would be expected to have appreciated approximately 40%. However, instead, it is showing a 38% loss.

I would definitely not recommend this business for any coin and/or precious metal purchases. I see from previous comments that people have been satisfied. I can only attribute that to maybe the person only buying 1-2 coins and having them delivered to their home. All of this could have been prevented with satisfactory customer service and support. It leads me to have a perspective of this company as a "Maddoff-stlye" operation that is ponzi scheme in nature. Buyer Beware!

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.