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D
8:39 am EDT
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

goldline - Lying & ?theft by deception

Succoured in by the prospect that The Federal Government has, in the past, and may again confiscate privately-owned gold except for antique coins, I contacted Goldline. After several discussions with account executive Geno Stephie, and receiving their printed material, I decided to make a purchase with a little more than $15, 000. I was told by Geno Stephie that the value of the coins was determined by weight & the 'buyers' premium' would be between 1% & 2%, most likely 1.5%-1.75%. Hourly fluctuations were cited as the reason a exact amount could not be quoted. I purchased the coins & goldline kept 30% of my money as the buyers premium.Several contacts resulted in the same result - "you agreed to the 30% in writing... it is against company to send you a copy but we will send you a copy of the contract like the one Glen Beck signed".

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The complaint has been investigated and resolved to the customer’s satisfaction.

2 comments
D
Dec 20, 2011 7:03 pm EST

I purchased gold from goldline, talked into buying gold swiss franc's and also purchased $20 gold pieces and so when the economy started to take a turn down I found out that there was a 30% commission costs to sell / or under price the gold below the market. I was so angry I confronted them on this and they confirmed it, only after I asked about it. what a total rip off, 60% cost to buy and sell through there company...

L
May 27, 2008 2:46 pm EDT

I put in for a loan and i did not recieve it and give my information.To goldline for banking and give them my social number. I would like to know what happen with my Infomation. do i have to contact my lawyer to find out what happen with this important information that i give you.

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P
8:39 pm EST
Verified customer This complaint was posted by a verified customer. Learn more

goldline - Deception & OverCharged

A few months ago I purchased some gold from Goldline, I wanted to try and find a safe storage for my families savings. The account executive worked hard to convince me to go with numismatic coins. He used fear tactics regarding confiscation in the 30's/40's in the U.S. During the entire transaction he kept bringing up the "spot" price of gold. He never indicated any other price other than the spot price of gold. The coins are not exact so I figured I was paying the correct price. I purchased the gold and thought great I purchased a good spot price and felt good as the price soared.

However, recently I sat down because we were thinking about making another purchase and what I found when I was going over the records is that I paid almost DOUBLE SPOT PRICE. The account executive not only made an effort to bring up the spot price during the transaction but he also failed to bring up what they call the "spread". I only learned about the "spread" after I called to complain. A supervisor spent 30 minutes on the phone with me explaining the exact process. Obviously that is to little to late, the sales person apparently is supposed to go over that with the consumer. Unfortunately for me it appears that Goldline could not care less, the supervisor apologized but said there was nothing he could do. I come to find out that on my purchase they even charged more than their stated "spread" which the max apparently is 35% and they charged 59%!

I'm going to seek legal counsel and see if there is any action I can take. But it's just sad because we put our savings in to that purchase and we definitely got taken advantage of by the sales person.

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Update by pbjbmiami
Apr 03, 2011 9:06 pm EDT

Since posting this complaint, Goldline has been working with me to resolve my matter. At this point they have done everything I asked them to do and we are in the process of final resolution. The Business Affairs department of G.L is excellent and really did a great job.

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K
1:40 pm EDT
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This review was chosen algorithmically as the most valued customer feedback.

I like so many others were taken in by their sales pitch.They also took the money out of my account and the result was an overdrawn account, which cost me a lot of money in overdrafts.I cannot even get on line with them, because they haven't given me the codes on line to get in.So as far as a company goes I think this one sucks.They lie to your voice and to...

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