American Gold Reserve Complaints

american gold reserve complaints

Despite the occasional complaint, american gold reserve is a legitimate company that offers a wide range of precious metal products. Its A+ rating with the Better Business Bureau indicates its commitment to customer satisfaction.

Some dealers engage in a bait-and-switch by selling coins with historical, or numismatic, value. These coins usually have no more than their “melt” value, the amount of gold that would be produced if they were melted down.

US Money Reserve

US Money Reserve is a precious metals company that offers its customers a variety of ways to invest in physical gold and silver coins. Their team of highly trained coin research and numismatic professionals use their expert market knowledge to help customers find products that offer the highest profit potential. US Money Reserve also provides customers with valuable educational resources, which can help them make wise decisions regarding their investments.

The Texas Attorney General sanctioned this company and forced it to pay $5 million to its customers in 2011. In addition, the Better Business Bureau receives many complaints about the company’s misleading sales tactics.

In one instance, a national class-action lawyer filed a lawsuit against USMR for preying on elderly people. The lawsuit alleged that the company repeatedly called an elderly woman’s home, asking her to buy commemorative coins. She bought 59 of them over an 8-month period, paying more than they were worth. The woman died at the age of 94.

Better Business Bureau

Founded in 1912, the Better Business Bureau is a nonprofit membership organization with chapters throughout North America that are focused on “advancing marketplace trust,” rating businesses on their reliability and performance and acting as an intermediary when consumers have complaints. Its reputation for weeding out fraudulent companies has made it a staple in the modern consumer’s arsenal.

In a recent article in Smart Money magazine, however, the organization came under fire for what critics called its “too cozy” relationships with some of the businesses it monitors. In 2007, for example, the 112 U.S. BBBs collected more than $131 million in dues from businesses—a sum that accounted for 90 percent of the organizations’ total revenue.

The BBB does not disclose the names of complainants who are not happy with their responses from a business, but they do publicize whether the complaint has been resolved to the customer’s satisfaction. The fact that a company is not a member of the BBB should not be cause for alarm, but it should be taken into consideration when shopping for precious metals online.

Legal Issues

Gold Reserve is a reputable company that sells rare and valuable precious metals. The company is licensed to conduct business in the state of Texas and offers a wide selection of government issued gold coins. It also provides a comprehensive education on the benefits of investing in precious metals. However, it has experienced some legal issues in the past.

In 2010, the company was sued by the state attorney general for deceptive marketing practices and agreed to pay $5 million. The settlement also required the company to change its marketing practices and provide clearer disclosures to investors.

Despite these issues, US Money Reserve is still a good choice for buying and selling precious metals. The company has an A+ rating from the Better Business Bureau and a vast selection of rare coins and bars. In addition, it offers IRA-approved bullion products and a buyback guarantee. The company also provides insured shipping and a free informational kit for potential buyers.

Customer Service

When it comes to buying gold, silver and other precious metals, you want a company that has excellent customer service. Augusta Precious Metals is one such company, which has a great reputation for their products and has lots of positive client reviews. They also have an A+ rating with the BBB, which is a good sign.

Moreover, US Money Reserve offers a variety of resources for its clients, including videos, special reports, price charts and a free information kit. The company also offers a buyback guarantee, insured shipping and a guaranteed delivery date for its coins.

However, customers have complained about US Money Reserve’s high prices and sales tactics. These complaints have resulted in some legal issues for the company. Therefore, it is important to compare the prices of various sellers of precious metals before making a purchase. It is also advisable to seek advice from a professional to ensure that you get the best value for your investment.