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Complaint Details
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Initial Complaint
03/20/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
On August 25, 2023 I transferred $50,000 from my Etrade traditional *** to American Hartford Gold. This was in response to their ******* and ******** advertising that gave warning about the impact of inflation in the economy eating away at the value of retirement funds. With my $50,000 transfer, they executed a purchase of both gold and silver on my behalf in late August to mid September. The result was an *** valued at only $27,284, and the rest, $22,716 (45% of the transfer), instantly gone as part of the purchase transaction. That wasnt inflation that did that. That $22,716 apparently was what was called a spread, which, they mentioned in an email at the time of the transfer that could range from *****% to *****%. Understandably, there would be transfer costs involved, but who would have expected the cost to be 45% of the transferred amount? I certainly did not fully understand what the spread meant. If I knew that all I would be left with was only $27,284 in my fund, I, like anyone else, would have shut that down immediately and never looked back. Even if this spread thing is legit and legal, they went beyond the *****% that they said was the upper range of the spread. It was 45%. I was made aware of this $22,716 hit to my retirement funds only just this past weekend when I got my bill for the annual fees of $275. I did not access my quarterly statements until I got that bill. I certainly would have complained right away if I had setup my online access shortly after the transfer and saw the shocking reality. Anyhow, if I cant recover that $22,716 that someone else is likely enjoying at my expense, may this warn anyone considering transferring their *** funds to American Hartford Gold. Maybe this is normal for this type of industry. But if so, steer clear from all of it. And if your job prevents you from living by the golden rule, doing unto others as you would have them do unto you, get another job. Quit robbing people and promising to protect their funds.
Business response
04/10/2024
AHG takes al complaints and customer experience very seriously. Currently, AHG is attempting to contact our customer and address his valid concern and provide an accurate valuation. It appears as though our customer is referring to a custodial valuation of precious metals held in his *** based solely on the spot price of the precious metals content. The same custodial valuation discloses that a spot price valuation may not be accurate, and encourages accountholders to contact their precious metals dealer for an accurate valuation.
Initial Complaint
03/20/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
American Hartford Gold took half of my retirement. I have been helping people for over ******************************************************************************************************************* stock loss. I told American Hartford Gold my goal was to preserve my retirement. I was not trying to grow this money in any risky investment but rather to preserve it, as I had seen my Father lose half of his retirement in the crash of 08. But, instead of preserving my retirement, American Hartford Gold took half of my investment. This occurred after my March 2023 sales purchase was delivered to their depository in June 2023. AMERICAN HARTFORD GOLD DID NOT MAKE IT CLEAR THAT THEY CHARGED DOUBLE FOR CERTAIN METALS WITH ADDED HIGH FEES INCLUDED IN THE PURCHASE PRICE, OTHERWISE I WOULD NOT HAVE MADE THIS PURCHASE. I was hoping this was just a horrible mistake, but once I spoke to someone, after several attempts, they spoke in circles and did not give me clear answers. After much investigation, I realized what occurred and I was very upset at losing half of my investment. I am writing this to help prevent others from losing their life savings, and for me to receive a full refund of my original invested funds. IRA **************Business response
04/04/2024
AHG takes all complaints and customer experience very seriously, and has spoken with our customer. Contrary to the assertions in the complaint, AHG clearly discloses costs associated with purchasing precious metals and recommended hold periods along with other terms and conditions in a standard customer agreement as well as in a recorded confirmation done with the customer's consent. Accordingly, an initialed, signed transaction agreement as well as recorded confirmation are in place for this transaction. Additionally, our customer is referring to an account valuation provided by the IRA ********* which is based solely on the spot price of the precious metals content of the products purchased from AHG, and states clearly that the accountholder should contact their precious metals dealer for an accurate valuation.
Nevertheless, in the spirit of good customer relations and under no obligation to do so, AHG will offer a full refund for our customer's 4/6/2023 order.Initial Complaint
02/16/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
On or about August 13, 2020, I purchased approximately $42,000 worth of collectable gold coins from salesmen at AHGG. They take their commission of the top of the transaction, both to buy and to resell the coins. At least that was my understanding. I cant confirm that because now I need desperately to sell them but have been ignored by them now for three weeks. The receptionist will answer the phone but nobody has ever called me back. I suspect they dont want to speak to me because they know from experience that I will be unhappy with the value of the investment after all the fees and commissions . Wishing I had left it in the stock market. Dont fall for the high pressure, fear mongering tactics.Business response
03/04/2024
AHG takes all complaints and customer experience very seriously. Currently, AHG is assisting our customer with a liquidation. As a courtesy, AHG will pay any storage, maintenance, and custodial fees associated with closing an **** AHG does not charge any fees to buy-back products purchased from AHG, and our customer has indicated that he understands and appreciates our policy. *** apologizes for any inconvenience and inadvertent delays in reaching a representative.Initial Complaint
01/25/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
In September 2023 I spoke with ***************************** about rolling over *** funds. My husband had passed away and I explained to him I didn't know anything about precious metals but wanted to secure my retirement. He assured me this would be a secure direction to go given the current state of the economy. I signed a contract on 9/6/2023 to purchase $10,000.00 worth of gold and silver. I let him know I did not have a reliable computer or printer to make copies. I received numerous papers via DocuSign that I signed on my cell phone. Since I was not able to clearly read the documents on the small screen I listened to his quick explanations of what they said. I requested a hard copy of all papers that day and numerous times after and each time he assured me I would receive them. I have not. Recently I heard a man speaking about gold investments and what typical spread rates should be. He said certain companies over inflate the spread by huge amounts. I had not heard the term spread before. I texted ******************** and asked what the spread was for my account and was alarmed when he stated ****%. I then got a printer and printed the paperwork since I still had not gotten a hard copy from them. I was appalled at what I read. In our conversations he never mentioned spread nor did he mention any fees except the yearly depository charge of $100. HAD I KNOWN I WAS LOSING MONEY FROM DAY ONE I WOULD HAVE NEVER DONE BUSINESS WITH HARTFORD GOLD. I feel like they took advantage of me and my situation by not being transparent about the charges associated. I am 70 years old, living on a fixed income and this money is the bulk of my retirement. To resolve this issue I want my money returned to me and all contracts with American Hartford Gold to be terminated. Account number: ********* Client ID: ******* If I had received a hard copy as promised initially, I would have seen the percentages and requested to cancel my contract immediately.Business response
02/12/2024
AHG takes all complaints and customer experience very seriously. After reviewing the above referenced complaint and speaking with our customer, a decision was made to provide a full refund. Although costs are associated with any precious metals purchase and this among other terms and conditions must be disclosed, initialed and clearly and audibly acknowledged in order to proceed with every purchase at AHG, we feel customer service in this transaction left much to be desired. As a courtesy, AHG will pay any custodial termination fees. Our customer has indicated that she appreciates the consideration and considers the matter to be resolved.Customer response
02/14/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***********************Initial Complaint
12/21/2023
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
Back in 2018 I purchased 1/4 ounce ******** Gold Buffalo coins. I am now finding out that nobody else will buy them back as they are not available except with Hartford Gold unless I sell back at a considerably discounted price. I already had to pay commission fees in purchasing the coins. So I've been attempting to contact Hartford Gold but nobody will return my calls.Business response
12/22/2023
AHG has contacted our customer, provided accurate buyback pricing on our inventory and assigned a new representative. Our customer appreciated the follow up and considers the matter resolved.Initial Complaint
11/14/2023
- Complaint Type:
- Product Issues
- Status:
- Answered
Company will not reimburse my unused funds. Now, after making some purchases, I'm told that the amount I originally deposited was the minimum amount to invest. There were LOTS of documents that I read and signed before buying gold, but nowhere did I see anything about a minimum investment. I've spoken to the sales rep, with no resolution made. I've told them that I don't want to speak with five other people (again) to get my money back, and tell each one of them that I'm not interested in buying silver (multiple people repeatedly tried to get me to buy silver initially). I just want my residual deposit refunded to me. I spent $2,050/oz of gold, for two ounces, totaling $4,100. (I was initially quoted over $2,200/oz but when I balked about the markup on the purchase, I was told they would match the price of other firms.) My initial deposit was for $5,000, so I'm still owed $900.Business response
12/01/2023
Thank you for bringing your concerns to our attention. We apologize for any miscommunication and inconveniences caused, American Hartford Gold is pleased to know this has been resolved with your representatives. We greatly appreciates your business and hope to service you again in the future.Initial Complaint
10/31/2023
- Complaint Type:
- Customer Service Issues
- Status:
- Resolved
On 4/27/2023 I entrusted American Hartford with approximately $80,000 which went into 2 sperate accounts. I did make a previous complaint as the timeframe was about 7 months waiting for the funds to get to my account. Last week I received an email stating that the funds have been put into my account. Upon review, I see that my accounts are $12,661 short of funds. I emailed an inquiry but have not received a response. I received a v-mail yesterday asking that I remove my negative review, which was for the 7-month delay but no information regarding the $12,661 shortage in my accounts.My Jun and Sep statements show the value of both accounts to be $80,134.Today, (9/25/23) my combined accounts are $67.266.19, which is a delta of $12,867. (16%)During my March purchase, silver Spot price was $21.69; today it is $26.23. IN my contract AHG does state that there are fees, which add up to $400. That is not an issue. This still leaves $12,467 unaccounted for.Other reviews have indicated the same, (what appears to be) deceit, or serious negligence. A court would have to decide that. I have yet to receive a response.This is why I do not recommend doing business with American Hartford.Business response
11/08/2023
American Hartford Gold thanks our client for his feedback and interest. After discussing his concerns and reviewing a detailed explanation, it has been mutually agreed that our services were not a suitable match for the client at this time, and it was decided to provide a refund. Additionally, the client expressed their gratitude for the dedicated efforts of our sales manager, in resolving his concerns. We remain open to assisting them in the future should the opportunity arise.Customer response
11/10/2023
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and we are currently working to resolve this issue. We are not at a point where it has been completely resolved. Next week should show better results.
Sincerely,
***********************Initial Complaint
10/05/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
In late March of this year (2023) my wife (*****) and I worked with ************************* of American Hartford Gold to purchase precious metals using rollover funds from two individual retirement accounts. It is now almost exactly 6 months later and we are still getting "Delayed Shipping" notifications.Business response
10/11/2023
Hello ******************,
Thank you for your feedback and for giving us the opportunity to address your concerns. We are pleased to inform you that your order has shipped in full and you should no longer receive delayed shipment notifications. ******* Harford Gold sincerely appreciates your patience and continued business. Our representatives are dedicated to service you for the lifetime of your account and if you ever need anything else, please feel free to reach out to us directly.
Customer response
10/11/2023
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
*************************Initial Complaint
09/20/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I rolled over my entire *** that was going to be used for healthcare purposes. At no time was price per coins discussed. All discussions were based on spot price of Gold and Silver per ounce at time of transaction. After Transaction Gold was up close to $200.00 an ounce and Silver was up over 25%. Yet somehow I lost $105,000.00? I still do not understand how/what happened. They also said I qualified for $1,500.00 in free silver for the transaction which I never of course never received. They sent me a statement after purchase, but never sent one after devaluing what I had further exposing how nefarious this whole transaction is/was. This should be a criminal offense but I'm know that will never happen. I'm sure they will say that this is like a car deal and my own fault as I should have known. But if this were a car deal, it would be like buying a new Corvette with low miles with a free tank of gas to go with it, then having a ********************* with ******* miles on it shipped to me. This kind of thing HAS to stop! I have a chronic illness that is treatable with VERY EXPENSIVE Medication. I will no longer be able to pay and this will result in a very painful life for me moving forward. I would also like to know of similar cases with lawsuits pending and join a class action lawsuit if one exists and no action is taken to rectify my situation. Also, the stress has been unreal for me, my Blood Pressure was extremely high last doctor visit, as in life threatening high. This needs to be resolved quickly!Business response
10/05/2023
AHG takes all complaints, reviews, and customer experience very seriously. *** has spoken with our customer at length and he has indicated that his valid concerns and questions were adequately addressed and answered, and that he considers the matter to be resolved. Our customer will continue to follow up with AHG in the future for accurate account values.Initial Complaint
08/25/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
In Feb of 2022, I contacted Hartford Gold about turning over my *************** from being an Ironworker for 30 yrs and buying silver or gold with it and I and my wife talked to *********************, of Hartford Gold, about this. I had $81,433.86 in my retirement account. He suggested I roll it over into buying silver, it wasnt until over a year later that my wife and I discovered that on the day I signed and rolled my retirement fund over Hartford Gold took approximately $25K right off the top of my retirement funds. I found this out from the first paper Quarterly Statement. I called ********************* of Hartford Gold and ask him about it and he said he told us about the 20% spread, my wife and I neither one remembered him saying that and even if we did we would not know what he meant by 20% spread. Had he told me that Hartford Gold would be taking $25K the day I rolled over my funds, I WOULD NOT HAVE DONE THAT!!! My wife even ask him on the phone what does Hartford Gold get out of this deal and he said, "absolutely nothing" I want my $81,433.86 minus fees for their trouble, paperwork or whatever else they did. And minus paying the taxes on the full amount, which can be deducted.And they can of course keep the silver. If they cannot do that I want to recover my 25K they took from my ***************s. And I will close my account and pay the full amount of taxes on the $81,433.86 Thank you, ********************Business response
08/28/2023
At American Hartford Gold we take customer satisfaction seriously and are glad to have addressed your concerns promptly. Thank you for bringing this to our attention, and for allowing our team to carefully explain and address your questions. Our representatives will be here for the lifetime of your account and are more than happy to assist every step of the way. We look forward to continuing to provide exceptional service in the future. If you have any further questions or feedback, please don't hesitate to reach out to us directly.
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Customer Complaints Summary
48 total complaints in the last 3 years.
31 complaints closed in the last 12 months.