ComplaintsforAmerican Hartford Gold

• Initial Complaint

  06/20/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Subject: Complaint Regarding Deceptive Practices and ************ from American Hartford Gold Dear Better Business Bureau,I am writing to formally file a complaint against American Hartford Gold regarding my recent experience with their gold and silver *** ********** services. I feel that my wife and I have been defrauded, misled, and inadequately informed about our substantial **********.In 2023, we converted our 401k into a gold and silver *** with American Hartford Gold, investing a total of $350,574.31. As of the last quarterly statement, our ********** value has significantly decreased to $235,742.66. This drastic reduction has raised serious concerns about the integrity and transparency of the services provided by American Hartford Gold.Key Issues: Lack of Transparency on Fees and Commissions Difficulty in Communication Unfulfilled Promises We feel that we have been misled and inadequately supported in managing our **********. We are seeking your assistance to rectify this issue. We would like clear instructions on how to sell back the coins or modify our **********. Prompt and reliable communication from their team. A detailed statement of all fees, commissions, and the specific dates of the coins purchased.We hope that your intervention will help us achieve a fair resolution to this matter and prevent other consumers from facing similar issues. Thank you for your attention to this serious matter.Sincerely,************************* / *************************

  

  Business response

  06/21/2024

  AHG takes all complaints and customer experience very seriously, and has since spoken with our customer addressing the above referenced concerns. The custodial statement mentioned only provides a valuation based on the spot price of the precious metals content of gold and silver coins, and does not represent a cash value dealer bid price. AHG has provided an accurate valuation as dealer of record, and our customer considers the matter to be resolved. AHG recommends that our customer continues to follow up with AHG for accurate valuations of products purchased from AHG.

• Initial Complaint

  06/07/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Me and my wife have moved our *** policies and converted them to precious metals through American Hartford, however we have been going back and forth with them for months trying to get confirmation our metals are being stored, we were to get credited for storage fees but that has not happened. Just getting information from them has been an issue. We really need to get our refunds, valuation reports and confirmation all metals are in the proper storage.

  

  Business response

  06/13/2024

  We have engaged with the client to address their concerns, provided complimentary metals, and credited the storage fees. Our sales representative has rectified the matter, leading to the clients satisfaction.

• Initial Complaint

  05/17/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I transfered over $40,844.00 of my *** to AHG into a Gold ***. $38,000 was used to purchase bullion gold coins and $2,844 was left in a cash reserve. At the time of contract and actual purchase, the price of spot gold was trading between $1913.00 and $1821.00 per oz. When I signed the contract in August of 2023, the spot price was $1913.00. When my funds were used to actually make the purchase of a mixture of gold coins on 10/06/2023 the the spot price was at $1821 per oz. When I received my second statement from Equity Trust from statement period 10/01/23- 12/31/13 I was shocked to see that my asset balance was $26,638.42 even though the value of gold was trading at $2062.00 per oz. I called to ask an explanation as to where over $13,000 of my retirement went? I was told the person who opened my account no longer works with **********************. I was told that a representative would call me back. No one has called me back. I called a second time and was told the same thing. This is why I am filing this complaint.

  

  Business response

  06/05/2024

  AHG takes all complaints, reviews, and customer experience very seriously. AHG has spoken with our customer and provided a thorough explanation of the custodian's spot-price valuation as well as accurate current liquidation values. 
  Additionally, AHG discussed at length with our customer the details, terms, and conditions of his 8/25/2023 purchase offering a full refund of purchase price as well as payment of any custodial termination fees. 

• Initial Complaint

  04/25/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I called on Feb 2 to transfer an IRA ******* after seeing A+ BBB ratings on AHGG. They opened my ******* on 02/15/24 for $21572.03 to secure it.. We knew the metals we wanted before opening the *******, we did research. Working with the sales person he said they had products that they buy back at higher than the metals we wanted. After working with him he did his workup, getting the list of some metals he PUSHED on us that were OBSCURE metals that I see in 3 places, there's being one. We called several times to change the metals to what we wanted, but he said we would take a real big loss even though it didn't appear the metals were in the ******* except for the original $21572.03. The full check was sent overnight on 2/27/2024 for $85562.76. On 3/8/24 when he updated the balance, I believe it was spreadsheet to $85k after the full check was received . That amount never showed in the ******* even as cash. The current ******* states UNSETTLED METALS PURCHASE in the amount of $22682.96 on 4/24/24. I believe we could have changed the remaining metals to what we wanted with the $64K balance? I have received emails delayed shipping March 16 & 29 delayed shipping April 17 & 18 (We have purchased metals and got them in 7 days maximum). There is something wrong with their system. My ******* still shows 20+k in it but the true amount is 85+k. Where is the balance of my *******? We called and got that it takes time to be received and be verified, yes it does but not this long. (My husband is with a different company, thinking of not keeping all our eggs in one basket. After opening his ******* and choosing his metals and no one trying to sell him OBSCURE metals his ******* had what he purchased in less than 2 weeks DONE.) American Hartford Gold Group where is my money? This is my only retirement and I was trying to move it to a safe **** With the current times, I could loss it. Really not happy!

  

  Business response

  05/06/2024

  AHG takes all complaints and customer experience very seriously. AHG's ********************* has reviewed our customer's recent *** purchase and provided a partial refund and exchange into products compatible with our customer's preference. Additionally, AHG's ********************* has provided a thorough explanation of custodial valuation and the role of a precious metals dealer in a precious metals ***. Our customer has indicated that she considers the matter to be resolved.

• Initial Complaint

  04/10/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Date of purchase 5/23/2023 Sales order: AHG00024366 Purchase of gold Offerings as part of purchase agreement: I was told that I would have 2 years of storage fees payed for with the purchase of gold and silver. This is the second year since I purchased. I had called the company regarding the offer agreement to pay the storage fees for the second year of $275. After numerous attempts and speaking to a representative, they agreed to pay the storage fees. The storage fees were due in January 2024 and it is now June 04, 2024. I ended up paying for the storage fees, because I did not want to have my silver and gold impounded for lack of payment. I am not happy with the company. They were only helpful when I was willing to purchase, but now that I have purchased the company has ignored my emails and has not resolved the issue. I would not recommend this company for any purchases. They make a good profit off of their clients and then they are not willing to back up their offers. I also requested an amount of what I payed for each coin. I did not receive that information. I have had to call the company after purchasing to see when they were going to ship my gold and silver. They never made the courtesy calls to update me on the status and shipments of the gold to the storage company. Not happy with this company and their representatives.

  

  Business response

  04/29/2024

  AHG takes all complaints and reviews very seriously, and has spoken with our customer addressing his valid concerns. AHG has requested that custodial fees paid by our customer are reversed to his credit card and paid by AHG per our original promotion. Additionally, AHG has assigned a new representative to our customer's account. Our customer has indicated that he appreciates our response and believes the matter to be resolved.

• Initial Complaint

  04/09/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  Date of Transaction: 7/27/2022 Amount invested on IRA: * ******* transferred from savings account @ ******************** American Hartford Gold: Sold metals and would have them stored @ My Equity for an annual fee of *250 Nature of the Dispute: American Hartford Gold sold coins ( Metals Gold, silver, Platinum, Invoiced attached) for an amount of ******** while the price of SPOT MARKET metals was on 7/22/2022 Gold: *1736,80, Silver: *19.10, Platinum: *905.10 As of today 4-3-2024, metal price SPOT MARKET:Gold: *2296.15, Silver: *26.91, Platinum: *947.84 Increased of:Gold: * ****** (32%), Silver *7.81(40%), Platinum: *42.74 (5%)How can my earnings now be 31% less?? With the price of metals increasing Resolution: NONE I have had email exchanges with the numbers asking American Hartford Gold for explanation of numbers and I have received documents that does not match the amounts in MyEquity positions documents, have tried MyEquity and they tell me they just store and work with the spot market and that I must ask Hartford Gold.Account Number: MyEquity ********* ********************** Gold Client ID: ******

  

  Business response

  04/29/2024

  AHG takes all complaints and customer experience very seriously. Currently, AHG is communication with our customer and reviewing our customer's purchase in an effort to address his valid concerns and provide a resolution.

• Initial Complaint

  04/09/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Previously, I had contacted American Hartford Gold because of organizations I like had touted this company. My phone call was navigated thru a call center and I had an information session with a salesman who was hard pressure sales. I have invested successfully in gold proof US coins previously, so I knew the product and the approximate cost. After the salesman disclosed the commission rate, I said that I was not interested. He tried to high pressure me even after multiple times telling him no, so I told him to mark my contact info with DO NOT CONTACT EVER AGAIN. Today, April 1, 2024, I received a call from the company saying we had spoken before and that they wanted to try to solicit my business again. I told them that I had specifically told that company DO NOT CONTACT ME EVER AGAIN. The caller said that he didn't see anything of that nature on the call. I told him, then I want him to mark my file DO NOT CONTACT ME EVER AGAIN. He would not take no for an answer just like his predecessor. I was very direct and there can be no misunderstanding about what I thought of their tactics. He asked why. I told him the former salesperson was high pressure sales, and that the commissions were way too high when I can buy directly from the US Mint. He said their prices were cheaper. I said give me an example. He proceed to tell a story. I said "Give me a price on a US American Gold Eagle Proof 1 oz." He said he didn't have prices, but it I would talk with the next guy... I retorted "You don't even know your prices and you're telling me I would save money even with 20% commission you're charging? NEVER CONTACT ME AGAIN". He kept on talking and hung up on him. People need to know this business is the same old high pressure door to door salesman, only over the phone. And in the process they violated the Do Not Call, but contacting me again after I 1) am registered with do not call and 2) I had explicitly told their sales person previously DO NOT CALL ME.

  

  Business response

  04/25/2024

  The above referenced complainant is not a customer. There is no record of a request to be placed on the Do Not Call list other than 04/01/2024. The complainant was placed on the Do Not Call list 04/01/2024 at her request, and has not, will not be contacted by AHG.

• Initial Complaint

  04/09/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  In the middle of March 2023, I agreed to move $85,715.63 from my 401K plan into a gold fund managed by American Hartford Gold My Equity. I thought that my money would grow faster in gold. When they bought the gold - I received my statement at the end of March 2023 statement, which showed that my account was valued at $53,000. What happened to my $32000?I have my statements for all 4 quarters with a big surprise at how money can disappear on the Real website. I spoke to a representative. His explanation was a lot of double talk. Since then, I have had repeated conversations and emails with him.I spoke with another representative lately and she said that my gold is now worth $65,000. I know that gold prices were up a lot from March 2023 to now and after the sale, I should have much more money. When I transferred my 401K savings to my Equity in March 2023 the price of gold was $2087 per oz. it has recently soared to $2254. The American Hartford Gold staff says I will get $65,000. This is absurd and unacceptable. I would like to receive at least my entire original investment of $85,715.63 so I can return it to the financial institution 401K plan Voya which I have at my work.

  

  Business response

  04/29/2024

  AHG takes all complaints and customer experience very seriously. In the spirit of good customer relations, AHG will issue a full refund of purchase price. Our customer has indicated that she considers the matter to be resolved. 

  Customer response

  06/14/2024

  Hello Sir/Madam.
  
  This is ***************************.
  My Complaint ID: ********
  Please note that I have received all my money back from 
  American Hartford Gold and for all transactions ********************* helped me.
  
  Also, thank you so much to the Better Business Bureau for starting this case and resolving the problem.
  
  Sincerely,
  ***************************.
  

  
  

• Initial Complaint

  03/20/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  My mother had contacted American Hartford Gold in March 24th and April 24, 2023 and purchased 500,00 dollars of gold and silver. She passed away on June 22, 2023 and there was gold and silver still being delivered to her house from those purchases 2 weeks after she passed. I contacted American Hartford Gold at that time to get the deliveries stopped and refunded. I spoke with Hartford Director of Compliance and explained what had happened to my mother and wanted a refund and send the gold and silver back and I also provided a death certificate. Hartford Gold would not do a full refund even though shipments was just made after my mother's death. However, they would buy it back. I talked to her account rep. and they would buy it back at ******* plus loss even though gold was still around the same price according to the invoices from Hartford Gold which should have been a full refund. The Hartford Gold account rep said gold was down and if I didn't need the money should hold on to it because gold is projected to go even higher and to call back when gold went back up even though it was around the same price she purchased. I called another time gold went higher and still over ******* loss out of ******* and listened to the same note cards they read off of to try get you to keep it even though it should of been refunded the purchase hadn't even been completed before my mother past. On March 8, 2024 I called again since gold had went to ***** dollars (all time high in history of gold price) and my mother price when she bought it we as ********. I thought sure I would be able to sell it back and get closer to back what my had paid. The answer was no. The buy back price this time was even worst even though gold was at a historic all time high. This time was a ******* dollars loss and now I was told I need to wait for a crisis to happen to maybe get close to what my mother spent which should have been refunded. This is why I'm contacting the BBB for assistance and warn other

  

  Business response

  04/10/2024

  AHG takes all complaints and customer experience very seriously. As indicated in the above referenced complaint, ***'s Compliance Director spoke with our late client's son in July of 2023, and stopped any undelivered products from being shipped. AHG has spoken with the son of our late customer and is currently issuing a full refund on all unshipped products. Additionally, AHG has begun the process to re-purchase the gold and silver products shipped, waiving any shipping charges normally deducted from the proceeds of the sale. The complainant, also an AHG customer, considers this matter to be resolved.

• Initial Complaint

  03/20/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  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.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩