ComplaintsforAustin Coins Inc.

• Initial Complaint

  07/11/2024

  Complaint Type:

  Product Issues

  Status:

  Unanswered

  More info

  On March 14 2024, I agreed to purchase 100 American Silver Eagles for $3270. I paid with a personal check made out to New York Federal Gold supposable their parent company. I was told the coins would ship in about 2 weeks. They did not ship as promised and for the next 3 to 4 weeks I was told they would ship in the next 2 to 3 days or at the end of the week. I then assumed they did not have the coins and ask for a refund of my payment. Again, for the4-6 weeks, I was told that the refund check would be mailed in 2-3 days over and over again. I was never allowed to speak to the person in charge and he would never call me back. After 3 months of calling and being lied to every time, it looks like they don't intend to ship me the coins or issue me a refund. I have been ripped off or scammed

• Initial Complaint

  07/01/2024

  Complaint Type:

  Product Issues

  Status:

  Unanswered

  More info

  Dear BBB,I want to file a complaint against Austin Coin in ******************** started last year when I was contacted by ***************************** from ***** Coin in ******** to cash my *** and invest in gold coins so I thought why not.Well that didn't got well. They got shut down by the *** and I got my money back.Then I got contacted by ******************* ************** in or around March of this year and he told me he had a good investment opportunity if could send him $90,000 and latter this year I could double my money, so I sent him the money and about two months latter he told me the deal on the coins had fallen through.Well I asked for my money back and was told it would be coming, so I waited two weeks and called back and ***** told me to call ************************* at ************** (****************************************)and he promised me he would return my money by Friday the 14th of June. Since then numerous calls to ******************* and ************************* leaving messages have yielded nothing but frustration even the *** has not been able to help. So can you help me with my dilemma?Thank you

  Customer response

  07/25/2024

  Better Business Bureau:
  
  At this time, I have not been contacted by Austin Coins Inc. regarding complaint ID ********.
  
  Sincerely,
  
  ***********************
  

• Initial Complaint

  05/30/2024

  Complaint Type:

  Product Issues

  Status:

  Unanswered

  More info

  I purchased 6 1991 Silver Dollars (PF 70 rated and signed by *************************). I was told that the value was $60,000. I was promised by ***************** that he would sell the coins on my behalf within 6 weeks. This was in November. I have called the fir almost daily since then, and spoken with ***************** the owner twice. I have had no response at all for the past several weeks. I am attempting to recover my money from this business. They failed to fulfill their end of the contract.

• Initial Complaint

  05/30/2024

  Complaint Type:

  Delivery Issues

  Status:

  Answered

  More info

  On May 11, 2023 I wired $200,000 to Austin coin for 90 1 ounce gold coins invoice number ****** on September 27 2023 I wired $51,000 four 2000 silver, 1 ounce buffaloes invoice number ****** on January 12, 2024. I was talked into exchanging my coins for 75 NGC 1 ounce gold buffaloes which I am having second thoughts about as of now Ive only received (9) 1 ounce gold buffaloes. I have records for all wire, transfers, invoice numbers, and documentation I can mail to BBB if it will be helpful.. please respond *********************

  Business response

  05/31/2024

  We want to assure you that we are not only aware of the issue you've encountered but are also actively working on a resolution. Our management team is dedicated to providing a solution that meets your expectations and rectifies the situation promptly.
  
  As part of our commitment to customer satisfaction, we would like to discuss a personalized arrangement that will fully address your concerns. We believe in taking every step necessary to ensure that you are satisfied with our service and response.
  
  Please let us know a convenient time for you to discuss this matter further, or feel free to contact us directly at our office. We are eager to move forward and demonstrate our dedication to your satisfaction.
  
  We appreciate your patience and understanding as we work through this, and we are confident that we will reach a positive outcome.

• Initial Complaint

  02/21/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Austin Lloyd **** Liers and ThiefsIn around February of 2022, I was contacted by **** ***, then *****************************, and then ******* from Austin Lloyds. They told me that the Better Business Bureau gave them an A+ rating. When I looked it up, I thought that it was true, because all that I found when I looked on the BBB website was Austin Rare ******************************** which is Rated as A+. They claimed that this was their company which was a big lie. They sold me 2023 ********************* 6 Coin Set First Day of Issue NGC MS70 (American Silver Eagle, $50 Gold Eagle, $25 Gold Eagle, $10 Gold Eagle, $5 Gold Eagle) for $12,000. They told me it had a value of $24,000. So, I sent it to them. I also sent them 7 one-ounce gold coins and they told me that they would send me $2,200 per coin. I sent them five $50.00 Fine gold Eagles, from 1992, 1998, 2014, 2016, and 2018. I also sent them two 1 oz. Canadian fine gold coins dated 2014 and 2019. I have a picture of what I asked them to buy from me and send me the money. I also bought a 2022 W ********************* $25 Palladium High Relief First Day of Issue Reverse PF70 NGC coin from them. They charged me $9,500.00 for it. I still have that coin NGC website shows a Guide Value price of $13,500 and a true value of $2,587. They stole my gold coins and never sent me a ***** for them. I kept calling them many times, but they never sent me any money at all. Then one day they sent me five 2016 ******************* 30th Anniversary American Silver Eagle NGC MS70 3-coin sets.I called them up again and I told them that they said that they would be buying all the coins that I sent them and that they would send me a check. I told them that I never ordered these coins, and I did not want them, I wanted the money that they told me they would be sending me. Their answer to me was, We are even, and we are not sending you any money, and then they just hung on me. I called them back and asked to speak to the people that I dealt with they just hung up on me.

  Business response

  02/21/2024

  ******************;called ***** immediately upon receiving this complaint and came upon an agreement that will satisfied the clients request. We are working with the customer now for a speedy resolution. 

  Customer response

  04/04/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  THE DAY AFTER I PUT IN MY COMPLAINT TO THE BBB I GOT A CALL FROM MIKE TODD, FROM TAUSTIN LYOYD INC. HE TOLD ME THAT HE FIRED ALL OF HIS CHEATING WORKERS AND i SHOULD ONLY DEAL WITH HIM. HE SAID THAT HE WANTS TO SELLEL WITH ME. HE TOLD ME TO RETURN ALL OF THE COINS THAT I BOUGHT FROM THEM AND HE WILL SEND ME $53,000 WORTH OF SILVER MORGAN THTA I NEEDED. I GOT IT IN WRITTING AND I SENT ALL OF THE COINS BACK IN THE FEDEX ENVELOPE THAT THEY SEND ME. I HAVE A COPY OF THE DELIVERY TRACKING. I SENT HIM A LIST OF THE COINS I NEED. HE SAID HE WOULD GET TOGETHER $53,000 WORTH OF COINS AND WILL CALL ME BACK.  HE KEPT ALL OF THOSE COINS AND ALL OF MY GOLD COINS BUT NEVER SENT ME ANY SILVER MORGAN OR MONEY. I HAVE BEEN CALLING EVERY DAY SINCE, BUT HE NEVER ANSWERS ANY MORE. WHEN I ALL AUSTIN COINS THEY TELL ME HE IS NOT IN BUT THEY WILL GIVE HIM MY MESSAGE. IT IS OVER TWO WEEKS NOW AND THEY STOLE MY MONEY AND MY OINS. I EVEN PUT IN A CLAIM WITH THE FBI AND THE NEW YORK ATTORNY GENERAL. I HAVE NOT HEARD BACK FROM THEM YET. NOONE SHOULD EVER DEAL WITH THESE LYERS AND CROOKS.  

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ***** *******  
  
  
  
   
  

  Business response

  04/09/2024

  Firstly, We would like to express our gratitude for choosing our services. We understand that you are eager to sell your coins. However, the process of selling coins can sometimes take a bit longer than expected. It has only been two weeks since we received your coins, and while we are making every effort to facilitate the sale, these things can take some time. We want to ensure that we find the best possible buyers for your coins to maximize their value. This process requires careful consideration and patience. If you can provide us with a bit more time, we are confident that we can help you sell your coins at the price you are requesting. However, we also understand if you are not willing to wait. If this is the case, we are more than happy to send back the full box of coins you sent in. We can arrange for this to be done immediately, should you wish. Please let us know what works best for you. We value your business and are committed to providing you with the best service possible. Thank you for your understanding and patience.
  Best Regards, Management 

• Initial Complaint

  11/14/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I sent my coins to Austin Coins in ******** as they told me to and they would get me the money I urgently needed. They received my coins,mixed them up, scratched a coin that was packed very carefully put coins that were uncirculated and circulated them with groups of coins so they were mixed in and did the same with my coins that had dye cracks and other mint made conditions, and it took approx 9 wks. Of me calling them before someone would actually get on the phone and call me to talk with me about my collection. By this time I just wanted to get my coins back they made arediculious offer.I declined they sent the majority of my coins back. They however did not get them back to me in the condition, order or in full . I want my coins all back,or what the value of worth to me would be and I don't even know what to say about the coins that esp my breasted lady that has been rudely damaged by them I'm sickened . I called them so many times and with no reply when they had my coins so I figured this would be the quickest way to get them to respond considering that there is now a serious problem. My next step is if they do not do their dudiligence in rectifying this issue will be criminal charges fallowed by a civil suit . I really dislike this I've never been so insulted in all my years by a so called professional company and I hope they just take care of things and we can each be over this , and move on

  Business response

  11/15/2023

  *************************,
  
  After carful review of your complaint we took more time out of the work day again and pulled up all the photographs of your forty thousand dollar coins and wanted to share some things with you. If you look carefully you sent us a rock that you implied was rhodium. Evidently it was not and was returned. Upon receiving your boxes of lose change photographed above which took two weeks to sort the gunk, dirt  and sticky coins we determined the product was only worth as much as a coin start bank would pay you. If the machine wouldnt jam while feeding it coins in those condition. We are sorry that you are under the impression we destroyed you rare coins but everything is opened under 24 hr video surveillance and photographed for this reason. Every box that was received before returning your coins was dreaded by the employees due to the filth and the time it took to inventory them. If there is anything else we can do for you please reach out to us and we would be happy to assist.
  
  Office ************

• Initial Complaint

  10/31/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  On June 20th I sent a Wire Transfer for $215,000 and an additional wire transfer a few days later for an additional $35,000. Several days prior I sent a wire for $15,000 for a total of $265,000.00 **** and ******* at Austin Coins were supposed to send me two portfolios of various gold and silver coins with an estimated value of $400,000.00. Furthermore they said they would assist me in selling these two portfolios for approximately of $950,000. They claimed that they could break up the sets and sell them individually to small investors for a substantial profit. They also said I had a 10 day return period to review the coins and make sure they were what I wanted.Approximately 2 weeks later the coins showed up and they were not at all what they told me I was getting. I received 250 Silver eagles from 2023 that are worth $125 each and one single gold coin work approximately $15,000. These were nothing at all what they promised I asked several times over several days for a refund as it was clear that I had a 10 day refund policy. I got the run around by the receptionist and the sales people as they would not return calls or emails for 2 weeks. When I could finally get them on the phone they said my 10 day return policy was over and I could not return these coins. I asked to talk with the manager or owner as I had this all documented and it took approximately 2 more weeks to get the owner on the phone. Once I was able to talk with the owner he said he would sell them for a substantial profit and wired me $60,000 over 3 different wires, but has ceased all communication and will not return any calls or emails. I have tried to get in contact with him many time asking for information and updates and they will not answer my calls or respond to emails.

  Business response

  10/31/2023

  We have just Spoke with ******************* And there has been a miscommunication. We have rectified Everything. 

  Customer response

  11/27/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  This response is just more lies from Austin coins.  They never reached out to me and there is no misunderstanding on either end.  I have tried over and over again to try to get in touch with them and get some actual information.  They have had a month Since the original complaint to answer my questions and come up with a solution or refund. Every time I call no one is available to help me they do not respond to emails or phone messages 

  I will give them two more days to provide detailed information regarding my transaction as well as a solution or a refund. If they fail to meet this deadline I will seek legal representation beginning Wednesday, November 29th and be forced to turn this over to the hands of a lawyer 

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  *******************
  
  
  
  
   
  

  Customer response

  12/09/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  While I have talked with *****************, they have not not yet resolved the issues.  *** assured me that he is working on a solution and agreed to send me weekly updates, that did not happen last week and while he said he would come up with a solution, he has not presented an option yet.  Please keep this case open until he comes through on what he promised todo. As of 12/09/2023 the issues has not been resolved and I will continue to peruse this issue until Pat follows through with an equitable solution that I find acceptable. 

   

  *******************
  
  
  
  
   
  

  Business response

  12/19/2023

  We have spoken to **** again, and resolved his issues. He told us he would remove these Complaints. Thank you 

• Initial Complaint

  09/01/2023

  Complaint Type:

  Delivery Issues

  Status:

  Answered

  More info

  On August 2 2023 I purchased $14,000 worth of coins from Austin Coins Inc. It is currently August 31 2023 and I have not received the coins as of yet. Any time I try to contact the individual that sold the coins to me I am met with excuses as to why I have not received the coins yet. The personnel at the help line tell me that they will look into shipping information and get back to me but fail to do so.

  Business response

  10/27/2023

  ********************, we received your complaint.  Looking at our records, it is indicated that your coins have since been delivered on Oct 13th via ***** **** **** ****.  If you have any further questions, please feel free to call our main office line at ************.

• Initial Complaint

  07/11/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Being 77 years old and retired, I decided to sell my extensive coin collection and chose a company I had already purchased over $70, 000 in the past, They requested I send them my . coins and they would appraise, then sell or trade my coins. Coins were sent 16 February. All this is documented by recorded conversation. The agreement they had me signed stated they would not sell or trade without a second agreement with myself. I waited for over two weeks after they received my coins tor a response and nothing was said or sent to me. After several request, I was connected with the supervisor, *****************. He asked me why I was so upset because they were about to sell my complete portfolio be included of coins for $276,000. They had a buyer but he requested some gold, platinum and palladium. That would require an additional $20,000 from me. This was on Friday, March 23rd and they needed it by Tuesday. He said once received I would receive my entire payment minus commission the following Thursday. I sent the wire transfer on Monday. Was told I would receive some coins that had to be returned to complete the deal with their customer. I never receive that box to return after I sent the money by wire. I again waited and after two more weeks. Nothing and complained again and the next day a box was received and a bill for $21,000 included. Repeated calls were met with excuse after excuse and finally I threatened with a law suit I was told by ***************** all my coins had been sold by mistake and it was Austin Lloyd's problem to make it right. **** told me he would be researching to find out what happened, and it would be corrected in some manner. They now have the $276,000(retail) first shipment, plus the $21,00 wire transfer and I have nothing and all this was completed without my consent on a secondary agreement. My spouse is very upset and now under a doctor's ********* for anxiety. I have contacted a lawyer. I will proceed without immediate resolution.

  Business response

  10/27/2023

  We have received your complaint and we apologize for your experience with ******************************  He is no longer a representative at this company.  He has been terminated for going against company guidelines.  We are pulling all documentation on your file and will be reaching out to rectify this situation.  Please feel free to contact management with any questions or concerns.  We apologize again and hope to resolve this matter as soon as possible. 

• Initial Complaint

  05/16/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Company is fraudulently preying on senior citizens. They stole over $25,000 in silver eagles from ** saying they would pay ** $25,000 for one monster box(500 1 oz Silver Eagles). We sent them the monster box expecting payment. What they sent us was 8 coins they said were valued at $35,000 which when we received appraised for only $3,200. Need to let buyers beware of the scam this company is perpetrating.

  Business response

  10/27/2023

  *** and *******************, we apologize for your inconvenience.  After reviewing your complaint, the 8 coins you received were all Reverse Proof ********************* authentically hand signed American Silver Eagles with a total NGC price guide value of $25,000.  Upon appraisal, the coins you sent to us were only worth $15,000.  If you have any further questions, please contact management at ************.
  

  Customer response

  11/13/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  Your response was entirely untrue  I had the coins you sent me appraised and the total was just over $5,200.  The monster box of 2013 Silver Eagles I sent you was quoted a price of $27,000 for the purchase.  You did not send the $27,000 but sent us 8 coins worth $5,200.  
  

  We will be filing a lawsuit against you for fraud and Senior abuse of law .  See you in court.  

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  *****************************
  
  
  
  
   
  

  Business response

  11/14/2023

  Dear *******************,
  
                  We understand your frustration in not being able to get an accurate price on the coins you received from us as not everyone has seen or even heard of such rare pieces. If you would like we can have someone walk you through NGCs Price guide available online to the public. They dont make it so easy to locate. I would also like to add, $57 dollars per silver eagle is very high. I sell them for $30.00 each in the same green box you provide. Again we understand and wouldnt not mind sending you the paper work on the pieces you have received.
  
  Thank you,
  Austin coins

*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. ↩