ComplaintsforDBS Coins LP
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Complaint Details
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Initial Complaint
03/20/2023
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Resolved
To resolve this complaint, DBS Coins will allow me to repurchase 10 2023 1oz Gold Maple Leaf Coins through their **** store for my original locked in price of $19,689.33. These are the exact products and price that I locked in back on Sun 3/12 before DBS Coins cancelled my order.On Sun 3/12, I logged onto the DBS Coins **** store and purchased 10 2023 1oz Gold Maple Leaf Coins for $19,689.33. When precious metals are purchased, the market exposure is transferred to the buyer. If the price of gold goes up, the buyer will have a gain. Similarly, if the price of gold goes down, the buyer will have a loss. On Mon 3/13 and Tue 3/14, the price of gold increased, which resulted in the coins that I purchased from DBS Coins increasing in value.On the afternoon of Tue 3/14, DBS Coins cancelled my order and sent an **** message to me stating they cannot ship to a post office. This is directly in contrast with wording on the *** website and terms, which state Shipping to PO Boxes? Yes through ****** By cancelling my order, DBS Coins likely pocketed several hundred dollars of market gain due to the price of gold increasing from Sun 3/12 when I placed my order to Tue 3/14 when they cancelled my order.Within an hour of DBS Coins cancelling my order on Tue 3/14, I sent them an **** message, left a voicemail message on their ************ sales phone number, and sent an email to ********************************* requesting that they reinstate my order. They did not respond to any of my inquiries.In the next several days, I tried contacting DBS Coins five additional times about reinstating my order. I sent an **** message on Wed 3/15, Thu 3/16, Fri 3/17, Sat 3/18 and Sun 3/19. They did not respond to any of these inquiries.As of today, I have tried contacting DBS Coins eight times. As mentioned above, when precious metals are purchased, the market exposure of the coins is transferred to the buyer. Due to DBS Coins cancelling my order, I have a loss of over $1K due to DBS Coins actions.Business response
03/28/2023
The Customer made a purchase through our online **** Store. The Listing stated in the Description and also shipping details (PO ***************************** or PO Box Delivery and NO forwarding addresses.) It is our **** policy that items cannot be shipped to a PO address through our *** Coverage for insurance and security. The customers address was a *********** Address.
***********************;
************************************************************************************-3016When the order was pulled and prepared for shipping the address was verified as a *********** and we cancelled the transaction because of the address issues. The transaction was fully refunded and closed out on ****. When accounts are cancelled for address issues the accounts are blocked and removed from future transactions. When the customers account is blocked on **** we cannot receive any other transactions or messages from the customer. The customer left a negative feedback on **** which was removed by **** because (The order was for *** shipping only. In the description it states we do not ship to PO boxes, also in the shipping methods it does not allow PO box addresses. The customer ordered the item and wanted it shipped to PO box. We can only ship through ***. This item was refunded for the customer. They wanted an item shipped to a PO box address.)
This customer is also works for a major competitor of ours and has been trying to damage our company reputation. The customer knows how **** policies work and how businesses cannot ship precious metals to alternate addresses for Fraud. Please let us know if you have any other questions.
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Customer Complaints Summary
1 total complaints in the last 3 years.
0 complaints closed in the last 12 months.