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Complaint Details
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Initial Complaint
07/12/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
The details of the problem are in the word document that is attached. The company supposedly records and keeps track of all phone calls. We feel everything we have represented in the letter is true and factual. We feel the company has been deceptive and misleading. We were given a valuation of our coins about one year ago and yet when we want to liquidate some the values are dramatically different than what we were told. We do not believe that our coins were worth so much less than a year ago when both gold and silver prices have gone up and so has inflation.
Business response
07/22/2024
Dear ************,
We are in receipt of the July 12, 2024 complaint filed by **** and *********************. Upon receipt of the complaint we researched our records pertaining to the customers account and communicated with the customer to begin addressing their issues. We have explained any possible miscommunications and apologized for the recent customer service which fell below the standard of service we expect from our representatives. The issues have been resolved amicably with the customer.
Thank you for your assistance with this matter.
Sincerely,
**** Fuljenz
President, Universal Coin & Bullion
Customer response
07/26/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
**** And *********************Initial Complaint
03/15/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
I sent 4 1 ounce gold bullion coins (2 US eaples and 2 Austrian philharmonikers) to UCB to sell to them. The coins were delivered about 10:30AM on Friday, March 8, 2024. This is from the **** tracking. On Monday a sales rep ******* ********) confirmed receipt of the coins and that I should receive a proposed price Tuesday morning. I've received no communication from them at all. When I try to call I either get a message that ***** is in the office (even at 3:00PM in the afternoon local time), or I am stuck leaving a voice mail because *********************** pretty much never answers his phone. Given that this is over eight thousand dollars of gold and that I have discovered that UCB doesn't have what you might call a sterling reputation, I don't want to wait too long to do something. I left a message in his voice mail being sure to let him know that I am angry that I've received no communication whatsoever (I believe that it was in a transcript from a class action suit against them that someone there claimed they didn't realize the customer was upset or angry). I also told him I would be starting this complaint process Thursday if I didn't hear anything. I either want the process finished and a check sent to for the coins, or I want them back. Additionally note that as the price of gold is changing it could very well be declining while I am waiting. The **** tracking code is 9506 1131 5401 4065 6210 55.Customer response
03/19/2024
Thank you for dealing with this so promptly. I received a phone call this morning (03/15/2024) from ****** ******** of Universal Coin & Bullion. He apologized and presented a price for the coins which I have accepted. He says that they will mail the check at the beginning of next week. I would like to NOT close out this complaint until I receive it (and it is deposited). I will contact you further when it is settled.
Once again, thank you.
Cordially,
***********************
Customer response
03/21/2024
Hello,
I have received a check from UCB. You can close out this complaint since I'm assuming the check will clear. Thank you for your help.
Initial Complaint
02/13/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
On August 2, 2023, Univeral Coin and Bullion, located in ******** **, withdrew $690 from my checking account with *********** located in ***************, **, without my consent. No order had been placed for any product or service from Universal Coin and Bullion. I immediately contacted them as this was an overdraft of my checking account. The representative I spoke to, *************************************, advised me that he did not know why this had happened, another representative had made the transaction and he refunded my money promptly.On February 2, ****, Universal Coin and Bullion in ********, **, withdrew $989 from my checking account with *********** located in ***************, **, without my consent. No order for any goods or services had been placed with Universal Coin and Bullion. Again, I immediately contact Universal Coin and Bullion and again I received an apology and was told my money would be refunded. Today is February 12, **** and to date the money has not been returned to my account. This is a violation of the Electronic Funds Transfer Act. I will be contacting ***********************, Criminal Attorney General of Jefferson County, **, to ask for his assistance in this matter.Moreover, I will demand that Universal Coin and Bullion cease and desist from any contact with me whatsoever and my account with them will be terminated. I want my $989 back. I never authorized that amount to be withdrawn, and it puts my checking account at risk of an overdraft. I am going to have to borrow money to cover this amount of $989!Customer response
02/14/2024
The date in question is ****Customer response
02/14/2024
The date in question is February 2, ****Business response
02/15/2024
Dear ************,
We are in receipt of the February 14, **** complaint filed by ******************************** Upon receipt we immediately reviewed the customers allegations regarding the February 2, ******************************************** the amount of $989.00. On a recorded phone call with a company representative on January 17, **** ************************** agreed to the $989.00 order, provided his debit/credit card information and requested the charge be held until February 1st (please see attached transcript of the January 17, **** phone call). We are happy to provide the audio recording of the call to the customer or your office upon request. The order was actually charged on February 2, ****. Our computer system shows the transaction was cancelled and shipping was stopped on February 5, **** with a refund processed on February 13, ****.
With regard to the allegation pertaining to the August 2, 2023 $690.00 withdrawal from the customers checking account, our records show the coins were purchased on July 27, 2023. The debit/credit card was charged on July 31, 2023. The transaction was cancelled and a refund was issued on August 3, 2023. Due to the size of the order and the lapse of time, the recording of the transaction is no longer available.
On February 13, ****, the Director of Sales left a voice message for ************************** and called again on February 14, **** to apologize for any confusion regarding the order and to notify him that a refund had been processed on February 13, **** (please see attached refund transaction receipt). ************************** abruptly ended the call.
************************** has been placed on the company Do Not Call list. We wish him well in the future. Please let us know if you need any further information.
Sincerely,
**** Fuljenz
President, Universal Coin & Bullion
Customer response
02/15/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
The company's representative had been advised to please call me prior to taking any funds from my bank account, at any time, regardless of whether an order had been placed or not on at least two occasions. Things come up that I have no control over and as everyone can see, this is a perfect example. Had ****************** given me a call, all of this could have been avoided.
Because I was not contacted, per my request, prior to the withdrawal of funds from my bank account, I absolutely refuse to do any more business with, and do not wish to be contacted by, Universal Coin and Bullion or any of their employees for any reason whatsoever at any time in the future.
Sincerely,
*******************************Initial Complaint
07/20/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I have an account with UC. Over a week ago, I was supposed to get an email with my account information to forward to my tax advisor. Not only has that not arrived, but I cannot reach anyone at the company. I have called a dozen or more times and I get an answering machine stating no agents are available. This seems totally inappropriate. I feel I am being scammed. I want to transfer my *** to a reputable firm. I have left several messages to no avail. Please direct my next action against this totally lacking company.Business response
07/28/2023
We are in receipt of the July 20, 2023 complaint filed by ****************************** Our computer records show two phone calls with ****************** on July 11, 2023 regarding his request for information and another call from ****************** occurred on July 19, 2023, the day before the complaint was filed. The computer records do not show any more calls from ****************** prior to the complaint being filed. Upon receipt of the complaint a manager immediately contacted ****************** and emailed the customer information he requested. Our manager apologized for the representatives failing to provide the requested information in a more timely manner. ****************** was satisfied at the time of the phone call and even apologized for contacting the BBB. The manager has called ****************** on multiple occasions after emailing the information to ensure it was received and to address any additional concerns. Unfortunately, he has been unable to reach him by phone.
Sincerely,
**** Fuljenz
President, Universal Coin & Bullion
Initial Complaint
12/12/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
***** talked me into trading my Mutual fund into a UCB. UCB promised my money is well guarded and easily accessible and the value would increase expositional with the spot price of gold.I agreed and said I wanted one ounce gold eagles. UCB said I would get investment gold eagles. I did not realize that I was getting that was not regular 1oz gold eagles. My IRA was $116,035 and my wife’s was $50,500Total $166,135.That is what showed on Equity website. Then, after a few days the value of my IRA dropped down to around $33,712.10 and my wife’s dropped down to around $16,700. I called him and asked why $115,722 was missing from my account. He said they are investment eagles, “which is not what I wanted”. ***** explained that these coins are much better than bullion investment because as the spot value increases the value of these coins will increase exponentially.Also, Universal Coin and Bullion turns the bullion price into the IRS. So, Universal Coin and Bullion turns spot value into the IRS and Universal Coin and Bullion will give me the much higher value of the investment. Well, the IRA was already changed over to gold, so I decided to try it. I turned in 4 coins, on or about 3/5/2021, that I paid $11,034 when spot was $1,736.59, “an increase of $27”. On or about 7/6/2021 spot was $1,763.59 and he sent me a check for $12,199 for the four gold coins and turned in $2207 to the IRS. Spot price went up $24 and the value of my coins went up $1,165. The $12,199.00 was my income for the year so taxes didn’t concern me. **** asked me to send the coins in and he would respond.Today, Dec 5th, the spot price is $1,806 “up $69.61 from when I bought the coins”, they gave me a value of $2050.00 for each coin. I paid $2,200 for the coins, this will lose $300 from the 2 coins plus $100 for shipping from Dallas. I lose $400.I am worried that I have been SCAMMED out of my life savings of $166,122.90. I am retired and 70 years old and retired. not enough character spaceBusiness response
12/19/2022
We are in receipt of the December 12, 2022 complaint filed by ******* ********. Our office has been in communication with Mr. ******** both before and after receipt of the complaint to address his concerns and any misunderstanding regarding his purchases from Universal Coin & Bullion. It is our understanding we have resolved Mr. ********’s concerns. We are working with him to liquidate some of his current coin portfolio.
Please let is know if you need any further information.
Sincerely,
**** *******
President, Universal Coin & Bullion
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Get a QuoteCustomer Complaints Summary
5 total complaints in the last 3 years.
3 complaints closed in the last 12 months.