ComplaintsforSD Bullion, Inc.

• Initial Complaint

  07/01/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I placed an order at SDB (>$25,000), which I canceled and immediately emailed the company about it. I then immediately placed a new order for a slightly smaller amount ($24,793). I received a bill from SDB requesting $2148 for the cancellation fee. I emailed them explaining that I placed the second order, but no one ever responded. The company sent me to collections for $3223.17 ("cancellation fee"). I emailed them explaining what had happened, but no one ever responded to my email. I am requesting that this balance be removed from collections.

  

  Business response

  07/05/2024

  *************************,
  
  We appreciate your communication, we've read it and we will take a look into your case. 
  
  We will get in contact with you soon. 

  Regards, 

• Initial Complaint

  06/13/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I purchased silver bars from the company and the silver bars are supposed to be .999 fine silver and they are magnetic.

  

  Business response

  06/14/2024

  Mr. ***********, 

  Our products are true to their description. Silver does have a magnetism effect- silver is 'diamagnetic' to it's most accurate term. It isn't as strong as other metals, but it does have  it. 
  
  Our recommendation for testing is the Sigma metalytics scanner - and  make sure it's well calibrated so that you receive the most accurate result possible. 
  
  Please refer to this video for more information: *******************************************

  Regards, 

   

• Initial Complaint

  06/03/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I will start by saying that my complaint is very similar if not identical to other complaints that have already been filed on this website. I am new to the silver buying process and wanted to see how the form of payment, taxes, insurance, shipping was all handled. I put something in my shopping cart and went to the checkout to see the procedure. After seeing the methods of payment and methods of shipping, I stopped at that point thinking that I had not entered into any agreement. I never received any confirmation emails or order details of any kind and I thought nothing more of it. About six weeks later, I receive a letter in the mail with a cancellation invoice. This notice had multiple errors. It had a wrong email, not a typo but a completely wrong email. It had an order date of May 2 which was not the date that I visited the website. It had a cancellation date the same day as the order date and the order date was about three weeks after I visited the website. This letter said that I must resolve by May 16, and I received the letter on June 1. They indicated a market loss, when there has been gains since that time. I received this letter on a Saturday and called them Monday morning and explained that I had unknowingly entered into a contract and was not made aware in any form of communication. They said that they called me, but there was no answer and they did not attempt to leave a voicemail. I checked my email and I never received any emails from them. The only evidence I have of this transaction is this cancellation invoice that I received weeks after it is intended to be resolved full of incorrect information. I explain all this over the phone and was basically told that they can’t help me but, “Is there anything else I can help you with?”After reading reviews on this website, I see that I am not the only one that has accidentally entered into a contract unknowingly without any contact from the company, other than a scammy cancellation notice.

  

  Business response

  06/05/2024

  Hello *****,
  
  We hope you are doing well .
  
  We reviewed your case in reference of order ******** placed on 4/11/2024 and got canceled by the system on 5/2/2024
  Submitting an order through the website or by phone requires the customer to agree to our full terms of use, including SD Bullions order cancellation policy. Cancellation fees are an industry standard. Because we operate in a live market, once an order is submitted it becomes a locked trade. The products were moved out of our inventory and held for you and we hedge our price based off the market price at the time you submit your order. Because of this, cancellation fees are calculated as 5% of the order total or $35, whichever is greater, plus any applicable market loss.
  
  When the system generates an order number means the customer after selecting the items, checking the grand total and verifying the billing and shipping address agree on the Terms of Use. *******************************
  After an order is locked in our system generates and email confirmation with the order number and breakdown of the purchase and send it to the email  the customer left registered .
  
  According our Cancellations Department they have the records of attempting to contact you by email and phone calls on 4/26/2024 and 4/30/2024 before proceeding to cancel the order .
  
  We sincerely appreciate your understanding
  
  Best,
  SD Bullion Customer Service

  Customer response

  06/06/2024

  
  Complaint: ********
  
  I am rejecting this response because:

  Hello fee collections team I hope you are all doing well,

  I appreciate you posting your policy, however, I don’t think restating the policy is going to solve this problem. Anyone who has browsed the complaints on the BBB probably has your policy memorized word for word by now. I understand that you have a policy. The problem is that I entered into this scheme of a contract without being aware that I did. Had I known I entered this agreement,  I would have resolved it a long time ago. To restate what I have already said, which has not been addressed, you have an incorrect email address. It is not a typo but a faulty address. Why would I give you my correct number and correct mailing address and a fake email. I tried emailing it and it came right back as undeliverable so you knew you didn’t contact me by email. You made two phone calls four days apart and didn’t leave a voicemail. The member of your team I spoke to a few days ago over the phone, even admitted that no attempt was made to leave a voicemail. How ridiculous is that? It is absurd to think that two phone calls with no voicemail and an undelivered email is a reasonable attempt to contact me. I feel like this could have been resolved a long time ago if you made an appropriate attempt to contact me . To help move forward, please send me an explanation of the loss that I caused you in this market that has been increasing ever since I supposedly entered into this agreement. Also, it would help to know what percentage of your companies profits are from fee collections. This information I think will help us move more quickly to a resolution. I hope your team is doing well and I sincerely appreciate your understanding.
  
  Best,
  
  ***** ********

  

  Business response

  06/10/2024

  Hello *****, 

  We hope you are doing well . 

  After an order is locked in our system generates an email confirmation which  is send to the customers information , in this case to the  email  customer left registered .  Right now we completely understand is not the correct email because you are telling us now , but we just followed what the system shows as information left by the customer.
  
   Cancellation fees are an industry standard. Because we operate in a live market, once an order is submitted it becomes a locked trade. Your products are moved out of our inventory and held for you, and we hedge our price based off the market price at the time you submit your order. Because of this, cancellation fees are calculated as 5% of the order total or $35, whichever is greater, plus any applicable market loss.
  
  Best, 
  SD Bullion Customer Service

  Customer response

  06/12/2024

  
  Complaint: ********
  
  I am rejecting this response because:
  
  Hello fee collections team,

  I hope you are all doing well.

  I know that there are several of you answering complaints, but I don’t feel like anyone is following the entire conversation. You are all getting paid to resolve this conflict. My time is simply being wasted with having to repeat myself. Restating your policy over and over when there is no conflict with your policy will not lead to a resolution. Let me restate again the problem that I have. I unknowingly entered into a contract online. I understand your policy and why you have it please do not repeat it again. My concern is that almost no attempt was made to contact me. I know this is hard for you to understand so I will explain it as simply as I possibly can. You say that an email was generated and sent based on the information that I provided. The email that you have is not a typo but a completely erroneuos e-Mail. Why would I give you my correct name my correct phone number and my correct home address and then make up an email? That doesn’t make sense. Furthermore, I’m not the only one to have this problem with your business  as evidence by previous complaints on this website. This sounds a little scammy to me. Possibly it was an innocent error, but it was an error on your part. Just like the other errors on the cancellation invoice. A wrong order date, misspelled words, and as far as I know a fabricated market loss fee as you won’t provide any proof.  Please do not accuse me of providing you with an incorrect email. When you sent that email, it would have bounced right back as undeliverable. When I called your team I was told that you called me two times but both both times no attempt was made to leave a voicemail.  Calling and not leaving a voicemail is pretty much the same thing as making no attempt. Sending an email that bounces right back and knowing it’s not delivered is pretty much the same thing as making no attempt. So in my mind you made almost no attempt to contact me regarding  the payment you were expecting. My problem is that I entered into a contract without knowing.  I can take some credit for that however, I’m not the only one to have done this so you can understand how it seems kind of like a trap or a scam. Almost no attempt was made to contact me until I received a phony looking letter in the mail. I requested an explanation of the fee you are trying to collect. A market loss during that time is laughable. You surely saw gains during that time. Please respond with an explanation to these things and please do not restate your policy. I have read it over and over and over and over and over again, simply stating the same thing does not lead to a resolution of this conflict. 

  Best,
  
  ***** ********

• Initial Complaint

  05/21/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Went to SB Bullion to check out the prices and filled out some information to see what they charge for their fees (shipping, over spot, ect. ) I didnt finalized any payment and simply left. They called me 3 days later and want to extort over $3800 apparently for cancellation fee. I told them there must be a mistake and asked to speak to management. They havent called me back. I spent 15 minute on BBB going though complaints and noticed there are similar complaints to mine. Might me a good class action lawsuit. This is unacceptable stay away from SB Bullion

  

  Business response

  05/22/2024

  Mr. *******
  
  We did have on file an order to your name (find attached), and this order has been canceled as you confirmed you did not want it, not provide payment for it. We see that this complaint was posted before the last conversation you had with our **************** team. 
  
  An order that is placed with SD Bullion is a locked-in trade, and whether you had the intention or not, the order was placed when you clicked 'Place Order'. Please be advised, per our Terms of Use, cancellation fees are due at the time of cancellation of an order. These are calculated as 5% of the order total or $35, whichever is greater, plus any applicable market loss. 
  
  Let us know if you have additional questions. 
  
  Regards, 

  
  
  

• Initial Complaint

  05/17/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  The dealer is offering "deals" of over 9.00/troy ounce over spot -- not a deal at all. Deceptive marketing practices. Pure exploitation. No other dealer is demanding half of these premiums. Misleading deals and practices.

  

  Business response

  05/21/2024

  Hello ****, 
  
  We hope you are doing well .
  
  We work to provide the lowest pricing for our customers but pricing in this industry is often not an apples-to-apples exercise as there are a variety of factors such as payment methods, transaction fees, shipping fees, spot price deltas and many others  that ultimately impact the price that the end user pays to receive delivered metal.
  
  We're always open to price matching if you happen to find better pricing elsewhere .Give us a call at 1-************ and our team can look into price matching.
  
  The past 3+ years have resulted in widely differing pricing strategies and product availability across the entire industry. There are countless price discrepancies if looked at on a case-by-case basis when comparing various sellers. Ultimately, our prices reflect our long term strategy which is to promote, sell, and safely and securely distribute bullion for best in class value to the end user.
  The success of the company is solely due to customers agreeing in that we're accomplishing that on a consistent basis and we sincerely appreciate your continued support.
  
  Best,
  SD Bullion Customer Service

  Customer response

  05/22/2024

  
  Complaint: ********
  
  I am rejecting this response because:
  

  The company frequently engages in rip-off prices and price gouging.

  Visiting their website at: *********************/ , their moto is "The Lowest Price. Period." While only occasionally that is true, Hero Bullion frequently beats them and after viewing some of their products they are charging many times over spot for some of their bullion. It's quite disgusting. It's false advertising when it comes to common products that are sold across all dealers, much less some of their "specialty" items.

  The reply is patently false when it comes to apples for apples across dealers.

  Maybe the CEO, ***** **** should be responding so it can be properly addressed and so that an real integrity check can be done.

  
  Sincerely,
  
  **** *****

  

  Business response

  05/27/2024

  Hello ****, 
  
  We strive to provide the lowest prices and the best service possible.
  
  We're always open to price matching if you happen to find better pricing elsewhere.
  
  Give us a call at 1-************ and our team can look into price matching.
  
  Best,
  SD Bullion Customer Service
  

  Customer response

  05/28/2024

  
  Complaint: ********
  
  I am rejecting this response because:
  

  Complaint stands. Their motto is "The lowest price. Period."

  The company only offers price matching, despite its other practices complained prior.

  Sincerely,
  
  **** *****

• Initial Complaint

  05/15/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  This was the third order I placed with them via check. No problems on the first two orders. I ordered about 4/19/24 and sent a check 4/22/24. Today I received a bill for $50+ dollars for a "cancelled order." I did not cancel and I phoned the company who said they did not receive my payment. They said they sent follow up emails and left voicemails. Not true. None of my logs show emails either in inbox or junk. No voicemails were received, also on a log. They said the burden is on me to track my order. I am now being penalized for being patient. They would not restore the order or waive the fee. No chance they will get a payment from me. I will find a more customer friendly business. I have made ****** in past purchases. Be wary with SD Bullion.

  

  Business response

  05/21/2024

  Hello *****,
  

  We understand your frustration and want to assure you that we take your concerns seriously.  We carefully reviewed your order ********  placed back in 4/19/2024 . 
  
  Unfortunately we never received your payment.  And as our website shows there is a timeframe to send the payment based on your payment method. 
  
  Personal check payments need to be postmarked within 72 business hours and received within 7 business days after your order is placed. 
  
  We have cancellation fees because this is a live market business. Cancellation fees are calculated as 5% of the order total or $35, whichever is greater, plus any applicable market loss. Every customer must agree to these terms prior to submitting their order, whether they place the order online or over the phone with an agent.
  
  Best,
  SD Bullion Customer Service

• Initial Complaint

  04/29/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I ordered 2 gold coins from SDbullion and elected wire transfer. They sent me instructions that I followed to the letter. I have wire transfers set up for my rent payments monthly and have no issues. SD bullion does not accept the bill pay service from my bank so my bank sent a check with instructions for how they can accept money from my bank. Turns out the address SD bullion uses isnt accurate so my check and the instructions are sitting God knows where.SD bullion threatens me with non payment though I did my due diligence. I called them to get it sorted but they refuse to cancel the order and stop the check payment without charging ME A FEE! Ha ha I was planning to order a coin per month from this point from them but will never do business with these guys again.

  

  Business response

  05/06/2024

  Hello ****,
  
  We understand your frustration and want to assure you that we take your concerns seriously.  We carefully reviewed your case and determined that we must honor our Cancelations Policy which states any locked in trade that is canceled on the customer's end will be subject to market loss, 5% cancellation fee, and any collection expenses incurred by SD Bullion.
  
  In your case we understand that the bank wire didn't go through, and so your bank sent a check, but unfortunately your bank sent it to a wrong address. The address we provided was for Bank Wire payments and in no way was it stated that it worked for Checks as well - we want to be clear that we didn't provide a wrong address. We did offer giving you the correct address to send your check, or even helping you set up the echeck  payment, but your decision was  to cancel the order.  
  
  From our end the order has been canceled and all fees cleared. If you ever want to do another transaction, please give us a call so we make sure all the details are addressed. If you want  to reach us you can do so at **************. We are available from 8 a.m.-8 p.m. EST Monday through Thursday and from 8 a.m.-6 p.m. EST on Friday.
  
  Kind regards,
  
  SD Bullion ****************

  Customer response

  05/07/2024

   
  Complaint: 21639692
  
  I am rejecting this response because:  The wire transfer sent was declined because SD Bullion's end.  This was not my fault and I was bullied into paying a cancellation fee through NO fault of my own.
  
  SD Bullion will never earn my business again and all of the gold bugs I know will be getting an earful.  I will work with honest gold and silver companies that I am pleased to spend my hard earned dollars with.
  
  Your pathetic actions and lack of integrity will be shown.
  
  Sincerely,
  
  ***********************

• Initial Complaint

  04/29/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  Placed and paid for an order 3 weeks ago ( 10 oz royal Mint UNA silver bars x2 ) never got any response beyond payment received - called to check on the items - was told that they do not have it in stock ( it was in stock when I paced the Order ) and it will be another 3 weeks ! When I was offered to switch to another 10 oz silver bars they placed me on hold several times to check if it can be switched I asked for another type of limited edition bar ( it actually retails for less then my original order on many websites and they refused and only allowed a Lowered price at to be ordered although I was told several times that I can pick what I wanted expect for certain ones and even after that the list kept growing every time I picked another type ! Rude unethical business !!! Never buying again and will file legal case if no bars are delivered by next week

  

  Business response

  05/07/2024

  Hello *******,
  

  We understand your frustration and want to assure you that we take your concerns seriously.
  
  We want apologize for any inconvenience this caused you . Unfortunately there is an unexpected delay from the Royal Mint and we keep working on this .
  
  After checking your order ******** it shows you received the (2) 10 oz Pamp Suisse Silver Bars .
  
  Once again , we appreciate your patience and trust .

  
  Kind regards,
  SD Bullion Customer Service

• Initial Complaint

  03/18/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  i went to sdbullion website to order silver. I was quoted a price of $27.42 per 1oz bar of silver and I placed my credit card number in and clicked submit before the 5min they give you was up. it gave me an error and said to submit again. i did and only AFTER placing the order a screen pops up showing me a new higher price and on top of that the order arrived one bar short! the manager calls and doesnt even ask what i need but assumes i want a 4 percent discount. (she left this on voicemail on my iphone) i dont want no 4 percent I want what I was quoted for! and my missing 1oz bar please! box was packed with a fedex bubbly envelope around it and really tapped up.

  Customer response

  03/25/2024

  I found the extra bar but I want the difference in pricing. 

  

  Business response

  03/25/2024

  Hello ******,

  We are happy to hear you found the missing bar.

  As previously mentioned, we have reviewed your order, and the price changed because you chose to pay with a payment method that does not qualify for the 4% cash discount. The price updates from the cash discount price when a credit card is selected as the payment method.

  This payment structure is identical to all bullion dealers in the precious metals industry and is not specific to our company. We offer a cash discount price because the cost to process a credit transaction is often as much as the profit would be.

  The credit, debit and PayPal pricing is advertised on every product page in the pricing grid while browsing. This is also visible when selecting the payment method on the order review page before placing the order.

  Kind regards,

  SD Bullion Customer Service

• Initial Complaint

  03/07/2024

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I placed an order for 100 1oz silver bars. I received the package and counted the bars. 1 bar was missing. I took a photo and submitted a complaint. They said the video shows it being packaged. I recieved no video showing uninterupted valut to postal servixe. Based on numerous complaints it appears this is a common business practice. I am in communication with thw DA and ebcourage others to file conplaints for a class action case. This is illegal business practices and its clesr there is a pattern. I have total qccountability of the oackaging and contents. The packaging they use is cheap plastic that breaks easy. Either it dropped pre packaging or the conpany is stealing but they are 100% no reliavle for delivery of oaid items. This is a crime.

  

  Business response

  03/08/2024

  Hello ****,

  I want to extend my sincerest apologies for any frustration you recently experienced. I want to clarify that your satisfaction is of utmost importance to us, and we are committed to resolving this matter promptly.

  As previously mentioned, we have reviewed the footage of the order being packaged and can assure you that all 100 silver 1 oz bars were accounted for. With this, it is very common for items to get lost among the packaging materials when being opened. We have had instances in the past where we have been contacted by customers claiming to have not received their product, just for them to find it soon thereafter discarded with the packaging material.

  I want to emphasize that by asking you if you had checked the packaging material, or if the package had arrived opened, we were not trying to offend you in any way. We have no intention of misleading you or taking advantage of you. We were just trying to get a full understanding of the situation before proceeding with a resolution.

  Overall I completely understand your frustration and I want to assure you that we take your concerns seriously. Furthermore, we would be happy to ship you a replacement 1 oz silver bar to resolve the matter.

  If you have any additional concerns, please do not hesitate to reach out.

  Kind regards

  Customer response

  03/11/2024

  
  Complaint: ********
  
  I am rejecting this response because: I have askwd for the order to be fullfilled anf to fate I have not recvd the 1 oz bar.   I infiormed the conoaby already that it was not in the packaging as I still have it.   I also never recvd the video unibterupted from oaxkaging to third party shipper.   The package needs to be uninterupted in orde to maintain integrity.  There is clesrly a history of this malicious behavior.

  Im arill wsiting for my order to ve fullfillwd.

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

  

  Business response

  03/13/2024

  Hello ****,
   
  Your replacement bar is shipping soon. I have listed the tracking information below for the package. 
   
  Order#********
  Tracking Number: ************
  Carrier: FedEx
  Info: ****************************************************************************************

  
  If you have any additional questions or anything else we can assist you with, please do not hesitate to call our team at 1-************. We are available from 8 a.m.-8 p.m. EST Monday through Thursday and from 8 a.m.-6 p.m. EST on Friday.
  
  Kind regards,

*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. ↩