ComplaintsforGoldline, Inc.

• Initial Complaint

  09/14/2021

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  in 2010 I called Goldline to purchase gold boullion. I was new to this investment & trusted that Goldmine would advise me honestly. The employee, ***** ******* convinced me to not purchase the bullion but rather various gold coins. Ultimately, I purchased almost ******* in gold coins from XXXX-XXXX upon his insistence. He stated that the coins were a better purchase, that I was getting an amazing deal & they were a much more reliable investment than the bullion I wanted. Yesterday, I went to sell the coins due to financial need & was told by the dealer how they were worth much less than what Goldmine told me. Ultimately, I lost(what is for me) a large sum of money. Golmine charged me on average $600 a coin when they were worth so much less than that at that time. I lost money on the purchase & made no profit at all. I've attached my purchase receipts & his business card. I cannot believe I fell for this scheme or that they cheat people who trust their expertise. any help is apprec

  Business response

  11/09/2021

  Business Response /* (1000, 5, 2021/09/30) */ Letter of response attached. Consumer Response /* (3000, 7, 2021/10/08) */ (The consumer indicated he/she DID NOT accept the response from the business.) This reply is a "canned" response sent by the company to any possible complaints received. It does not address the specific issue here, which is the fact that their employee took outright advantage of customers and sold overpriced coins which had no greater value than their weight in gold. They pushed these coins on me, and others, by claiming their rarity and value above and beyond the gold content itself which simply was false. They have none of the additional value ********** claimed and to be blunt he and other employees of Goldline took advantage of myself and surely thousands of others with these same claims. I found a lawsuit from approximately 2012 which further upholds my claim. Unfortunately, I was not privy to the lawsuit until now, but it is obvious that I was also a victim of the predatory nature of their sales team at that time. When I went to buy bullion I was convinced on three occasions that these overpriced gold coins were the much better purchase. ********** called me multiple times and aggressively pushed me to purchase more coins. Had I heard of the 2012 lawsuit years ago, I certainly would have realized the scam much sooner rather than this year. I should have known by the pushiness of the salesman, and his insistence that I not buy bullion (but rather these coins) that something was amiss. However, I believed Goldline was a reputable company that could be trusted....when obviously it is not. Business Response /* (4000, 9, 2021/10/22) */ We appreciate the opportunity to respond to*************'s rebuttal. The Company's response is not a "canned" response but serves as a reminder to************* of the extensive disclosures provided to him both verbally and in writing to make sure that he understood all of the terms and conditions of his purchases, which************* acknowledged understanding when he executed Goldline's Account Agreement on November 12, 2010. At the time of his purchases (over 9 years ago) the coins he chose to purchase did have a higher premium due to the supply and demand. The spread on the coins was also provided in writing and verbally before his purchase. The ultimate decision of which product to purchase was*************'s. He had 7 calendar days after his purchase in which he could cancel and receive a full refund (again, over 9 years ago). According to our records************* never requested that he be placed on Goldline's internal Do Not Call list. If he had he would not have received any further calls from any Account Executive. Finally, there was an action by the Santa Monica City Attorney's office that the Company resolved without any admission or finding of liability over 9 years ago. Consumer Response /* (4200, 11, 2021/11/03) */ (The consumer indicated he/she DID NOT accept the response from the business.) The terms and conditions you mention above were flat out false. Goldline charged me, and many others, double the value of the gold coins. The latter is supported by the lawsuit you admit to resolving without "any admission of guilt". Therefore, I would like my issue to be resolved as well; in a manner similar to that of the parties in that lawsuit. Business Response /* (4000, 13, 2021/11/05) */ We appreciate the opportunity to respond to*************'s rebuttal. As we stated in our earlier response Goldline fully disclosed its terms and conditions, which************* acknowledged understanding when he executed Goldline's Account Agreement on November 10, 2010. As stated in the initial response, with regard to the action by the Santa Monica City Attorney's office, the Company resolved this matter without any admission of quilt or finding of liability over nine years ago. Any qualifying claims related to that settlement had to be submitted to Santa Monica by May 22, 2012.

• Initial Complaint

  09/01/2021

  Complaint Type:

  Delivery Issues

  Status:

  Resolved

  More info

  I signed up for the Goldline accumulation program advertised on the **** **** show. I have spent over a **************** charged to my credit card and have yet to receive any of my gold coins which have reportedly been sent to me. When I call the service number **************** they say no one is available to take the call and to email them. Once I email them they called me eventually and stated they closed my account and my 2 gold coins would be mailed to me at additional shipping charge. They stated the statement would be mailed to me and that I could not receive it or the shipping or tracking number by email(?!?) I have yet to receive a confirmation letter or tracking number or any verification. They state their coins are out of stock on their website but other gold bullion websites have them readily available. They are also way more expensive then other businesses selling the exact same coins but yet they have no coins in ****** please ************

  Business response

  04/18/2022

  Business Response /* (1000, 5, 2021/09/10) */ We appreciate the opportunity to respond to Mr. *****'s concerns about his accumulation purchases. According to Goldline's records, Mr. ***** enrolled in the program on April 5, 2021. With the accumulation program the client agrees to spend a certain dollar amount each month that is then used towards purchasing the coin of choice. ******** did not receive any communication from Mr. ***** that he wanted delivery of his holdings until his August 19, 2021 email in which he wanted to cancel his purchases since April 2021 and receive a refund because he ********* the coins at other companies and received delivery. If Mr. ***** wanted immediate ********* he could have purchased the coin in one transaction and received it instead of enrolling in a smaller dollar amount and purchasing a portion of the coin each month. Upon his request Goldline cancelled the accumulation program, contacted Mr. ***** so he could buy up to another full coin and arranged for delivery of the 2 coins. He was mailed the trade confirmation (receipt) for the portion needed to buy up to a whole coin on August 25, 2021 and his coins were shipped on September 2, 2021. The tracking number was emailed to him on September 2nd and the package was delivered by UPS on September 7, 2021. For good client relations Goldline has credited the credit card used for the $25.00 shipping fee. If we can provide you with additional information to the BBB, please do not hesitate to contact us. Consumer Response /* (2000, 8, 2021/09/10) */ (The consumer indicated he/she ACCEPTED the response from the business.) Goldline has resolved the issue by delivering the coins as they stated. To avoid future misunderstanding they should provide prompt receipt confirmations electronically. I did not receive receipt, confirmation or timeline for delivery until after the date I filed the complaint.

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