ComplaintsforUnited States Precious Metals LLC

• Initial Complaint

  08/01/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I was *************** about how the prices were fair and I later found that I was overcharged. This I checked with two other dealers. For all of the coins I purchased in the last batch I was over charged by about 8 to 10 thousand dollars.

  Business response

  08/23/2023

  Dear ***,

  Our sales manager, ******, spoke with **************** on August 1^st at 3:41 pm regarding the complaint to offer clarification and come to a resolution. After a brief discussion, it became clear that there was a misunderstanding. The coins **************** was quoted from other dealers are not the same grade or pedigree as the ones purchased from United States Precious Metals; therefore, do not hold the same value. **************** did not have any additional dispute or request for return/refund at the time of the conversation. He mentioned he would reach out to the BBB and retract his complaint, leading us to believe there wasnt a need for a response to the complaint.
  

  Best Regards,
  

   

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

  Director of Administration

  Direct: ************

• Initial Complaint

  03/30/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  We recently had to move my ******************************************************************* his house, I found four coins from U.S. Precious Metals along with an invoice for $4,960. These coins are two $25 1/2 ounce Gold American Eagles, and two $1, 1 ounce Silver American Eagles.I researched their value, that research revealed that these coins MIGHT be worth as much as $900 - $1,300 each for the Gold Eagles, and approximately $65 each for the Silver Eagles, IF one could find a willing buyer. These prices being based on the ASKING, not sold price by various dealers online. (The price of gold at the time he purchased them was ~$900/ounce.) The coins USPM offers are real and have intrinsic value, and perhaps collectable value, however they are priced at least double what theyre worth, even to collectors. I believe USPM is taking advantage of people such as my father, who have no idea what they're buying. I contacted ****************** at USPM, and spoke with him about why these coins are priced so high. He has many reasons which I'm sure he would be happy to explain if contacted, but the bottom line in my opinion, is that even with all the expenses he will outline, there is absolutely no reason these coins should be priced more than double what they're worth, even including marketing costs incurred by USPM. Mr. ***** offered to purchase the coins back at the price my father purchased them for, minus a 10 percent restocking fee, I told him I would consider that and any other options, and call him if I were interested in returning them. I have called him at least three times now, and he has yet to return my calls, so I can only conclude he is avoiding me, and never intended to make good on his offer. At this point, I believe my only recourse is to try to warn other consumers to beware of this company.If contacted, I would be happy to provide much more detail that what I can in this limited space.

  Business response

  04/03/2023

  We have spoken to the complainant and have come to a resolution, as previously agreed. The complainant plans to return the merchandise and will receive a refund upon receipt of inventory. It appears there was some miscommunication in reference to the contact number that should be used to reach ****** or a member of staff who can help process the return.

  Customer response

  04/12/2023

   
  Complaint: 19876183
  
  

  BBB,
  

   

  You sent me this email about a recent message, and when I look at it you indicate that the complaint was closed because I did not respond.

   

  I was not aware you were awaiting a response from me.

   

  I was contacted by the merchant, and I returned the coins to them for a refund minus 10% restocking fee. I have yet to receive the check for my father, so I consider this complaint unresolved until I get that check.

   

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

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

  
  

  Business response

  04/21/2023

  ************** received the refund check, April 14, 2023. I have included a snip of the email he sent confirming receipt.
  
  

   

   

*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. ↩