ComplaintsforProvident Metals Corp

• Initial Complaint

  11/17/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Ive purchased silver and gold bars from Provident Metals over the last 7 years. I guess this stream of purchases set me up for the con. I recently bought a 1 oz ************ Gold Bar (New w/ Assay) from Provident recently. The bar looks as though it was retrieved from a ship wreck. The assay card was peeled off even in the corners and the bar itself looked like it was beat up.They were willing to honor their return policy but it had so many conditions and steps I gave up. Be careful if you buy any bar from Provident especially if its over $2000- you may get ripped off.

  

  Business response

  11/22/2023

  Hi *******,

  I'm sorry to hear about this issue. I show that this was your second all time order with Provident Metals. We appreciate your return after 5 years. Looking at the history, we have provided you with a fully paid for return label and exchanging the bar free of any charge. Is there something else you had requested from us? We're trying our best to make this right. 

• Initial Complaint

  07/11/2023

  Complaint Type:

  Delivery Issues

  Status:

  Resolved

  More info

  * Purchased June 17, 2023 * Delivered June 28, 2023 * Order # ********* Provident Metals failed me. I ordered 10x 10oz bars. Processing and shipment were fine. Upon inspection, there were a variety of bars, more than half were tarnished, one was acid stained from testing. There were a variety of mints and bars. I have a Precious Metals Verifier Pro which can test inside the bars. After setting it to pure silver (**** or greater) and 10oz bar, all bars tested fine except two. Both were AMARK. One of the suspect bars was testing outside normal range. The second, acid scarred bar, was very out of range, almost to the red indicator (which is bad). Flipping the bar over, it in some cases did fail in the red zone, but repositioning would allow it to barely pass as cautionary. I requested Provident Metals to exchange it, and they told me I had to have a local bullion shop run an XRF analyzer and provide a report to show it wasn't of expected purity, which would cost me money. They further said a very well known tool used by shops (Precious Metals Verifier Pro) that costs over a grand is not a reliable tool. I gave them another chance to offer an exchange on the suspect bars, and they refused. Know if you buy these secondary market bars, you may get low purity and Provident Metals will likely refuse to exchange them if you have an issue. I provided evidence to them that they were suspect, and they refused to do anything about it. I'm no longer going to be a customer of **********************.

  

  Business response

  07/13/2023

  This issue was resolved on the 28th. Our agent was in the wrong here and we offered the customer a coupon for the mistake in addition to replacement items on the 28th of June. Sorry again for the hassle!

  Customer response

  07/14/2023

  I have reviewed the business response and accept this resolution. 

• Initial Complaint

  02/06/2023

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I would like to voice a complaint regarding Provident Metals. On September 26, 2022, I was charged $1179 market loss fee for a computer glitch not of my making, and even if there were some mistake on my part, the charge was unreasonable. I have purchased coins totally multiple hundred thousand dollars with your company since 2015, and I should have been given the benefit of the doubt. These are the details:On 9/7/2022 I placed an ACH order for ****oz. gold krugerrands for $27,600.45. I received a confirmation and was informed that I would be notified when it shipped. After a week elapsed and it hadn't shipped (which has never been my experience), I placed an identical order on 9/15/2022 totally $26,805. Soon after Provident sent a notice to pay by paper check for the first order. I did not understand this, as I have not paid by paper check since 2015. I pay by ACH transfer. This was a system glitch by your computers that has not been addressed.On 9/26/2022 Provident cancelled the first order and charged a $1179 market loss fee. That was completely unreasonable and I disputed that charge by emails to *******. On 10/27/2022 Provident offered to reinstate the original order; however, I had already expended the funds.On 1/31/2023 I placed an order for a family member for *****oz. silver coins via ACH transfer. On 2/1/2023 the funds were taken out of my account. On 2/3/2023 ***** from Provident phoned and left a voicemail advising that he would not ship the coins until I paid the market loss fee. That's extortion. On the same date, I spoke with both ****** and ******. I offered to pay the difference in price between the two gold orders in question, but they were adamant that the market loss fee must be paid before the silver order could be shipped.As a retired federal agent, I know that extorting payment in order to release an unconnected transaction can be construed as a violation of the ***** Act, 18 USC ****. I hope you will credit the market loss fee back to my credit card. This fiasco was not my fault, and I would like to continue doing business with Provident.

  

  Business response

  02/13/2023

  ******, I'm sorry for the hassle you've experienced with this. Could you elaborate on how the order that was placed was actually a "computer glitch not of your making"? It appears you placed this order so I'm not understanding the argument here.
  
  The fee is based purely on the market movements. It is not punitive. It's simply the difference in price from when you placed the order to when you cancelled. This is necessary because we un-hedge the metal once you order. So if you do not pay for the order we are truly out that money since the value of the metals has changed.
  
  We explain this in the terms here: *********************************************
  
  12. Provident Metals Market Loss Policy
  Upon issuance of an order number following a purchase from Provident Metals, the price is guaranteed, and you *** not cancel the transaction. The transaction *** only be offset at Provident Metals' current asking price. If your item is cancelled, you are responsible for any deficit between the price at which Provident Metals sold the item to you and the offsetting purchase price. As set forth above, all cancellations are subject to our Market Loss Policy. Market gains on cancellations or returns shall remain the property of Provident Metals. Furthermore and to the extent Provident Metals does not have any of your funds in its possession, Provident Metals reserves the right, in its sole and absolute discretion, to charge market loss fees to any credit card you have on file with Provident Metals.
  
  Without limiting any other legal or equitable rights and remedies that *** be available to Provident Metals, Provident Metals *** elect to apply any and all of your funds in its possession to satisfy your monetary obligations and/or *** offset any obligations that Provident Metals *** have to you. Provident Metals also reserves the right, in its sole and absolute discretion, to apply any/all funds in its possession toward the satisfaction of your obligations to Provident Metals.
  
  

  Customer response

  02/18/2023

  (The consumer indicated he/she DID NOT accept the response from the business.)
  Thank you for replying.
  Here is why I state the order that was cancelled was a computer glitch:
  In 2015 I made six purchases at Provident, two by bank wire and four by paper check, totaling $27,155.95.
  In 2020 I made two purchases at Provident, both by ACH transfer, totaling $39,366.50.
  In 2021 I made ten purchases at Provident, all by ACH transfer, totaling $141,324.90.
  In 2022 I made eight purchases at Provident, all by ACH transfer, totaling $105,623.45.
  This can be verified on the Provident website under my orders.
  
  Up until the computer glitch, I made nineteen purchases by ACH transfer. The last paper check I used was in 2015. This is why I state it was a computer glitch that submitted the transaction as a paper check, and I don't believe I should be responsible for Provident's mistake.
  
  Additionally, I did not cancel the order. Provident did.
  
  I did not have any credit cards on file. Provident refused to ship an order which had been paid by ACH transfer until I paid a market loss fee of $1179 by credit card.
  
  And so I am requesting a refund of the market loss fee of $1179.00.
  
  
  

  

  Business response

  02/20/2023

  ******,
  
  Based on your order history, we are going to make a one time exception are refund this market loss fee. You should see the refund process this week. Thank you for being a good customer.

  Customer response

  02/21/2023

  (The consumer indicated he/she ACCEPTED the response from the business.)
  I am pleased that Provident Metals has agreed to refund the market loss fee to my credit card.
  The order that resulted in a market loss fee was a computer glitch that entered the transaction incorrectly. Based on my order history, Provident made the exception to their policy. Thank you.

• Initial Complaint

  06/23/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I attempted to buy about $1.5K worth of silver from provident metals via their online ecommerce platform. Every time it defaulted to wire transfer, even though all 3x I selected credit card. On the 4th try, the credit card field become available, and I entered my credit card. When I went back to see the order status, it was defaulted to wire transfer. However, my credit card was on file and would not allow me to switch payment methods. I got an email requesting payment and I said cancel my order. They then cancelled my order and billed my credit card $32 without my consent. I have filled a dispute with my credit card company on this.

  

  Business response

  08/15/2022

  Business Response /* (1000, 5, 2022/07/07) */ Dear Sir: Thank you for your inquiry. Our Sr. Operations Manager (Sib) reached out to you via email and voice mail on 7/7/22 to discuss further and see how we can assist with this issue. Please respond back to him.

• Initial Complaint

  06/03/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  There is one order on X-XX-XX for 3 Mexican 50 pesos gold coins amount of $7,522.05 and another order on 5-3-22 for 3 Mexican 50 pesos gold coins amount of $7,403.64. I paid for both orders ACH around the same days. 1ZA4YXXXXXXXXXXXXX is the UPS tracking for the first order, and 1ZA4YXXXXXXXXXXXXX is the tracking for the second order. I never chose UPS 3 days as my delivery choices in the first place, I only choose **** regular because it's free. Their *** 3 days costs extra. I have bought several coins from this company and when I place an order I get an email showing all the details so I have a proof of this. They changed it to *** 3 days without my consent, however they did not charge extra for both. They requires signature from the receiver and I was not home when *** attempted 3 times so they only left me 3 info notice notes on my doors and returned it to the shipper. So it was never in my possession. The second package, Provident Metals requested UPS to return the package to them and I had no idea about this so I never got this package either. So I have been calling and sending emails regards to these matters and they are keep telling me to file two police reports for the cases. I have spoken with 3 officers about it, and they all said they cannot make police reports when things were not delivered nor in my possession, which makes sense. They must give my full refund because none of items were delivered and they got them back. They have no rights or policy to keep my money for returned items when they were never delivered to customers, it's stealing. I have been to their address on their website and it was a *** store. So I googled Provident Metals on google map which was Dillon **** when I got there. Provident Metals and Dillon **** are affiliated, and Dillon **** did not want to help me as well.

  

  Business response

  08/10/2022

  Business Response /* (1000, 5, 2022/06/17) */ Dear Sir: Thank you for your inquiry. Our records indicate that our Sr. Operations Manager (Sib) contacted you via phone 6/17/22 at 1:40 PM CST. He discussed with you the process and the requirement of providing a police report in in an effort to move forward. He also discussed with you our Terms & Conditions guidelines that clearly states our process in an event of a claims investigation. Consumer Response /* (3000, 7, 2022/06/26) */ (The consumer indicated he/she DID NOT accept the response from the business.) A manager reached out to me for the first time since they found out I have filed a report to BBB. It was never possible to talk to the management until this guy called me. I have been pushing harder with the local PD to help my situation easier but they still cannot generate a police report for this. Their terms and condition does not apply to my situation since nothing was either delivered or dropped off. As I mentioned in the first place, they want me to get the police report when nothing was delivered but returned. They just want to use their insurance to get my reimbursement and they are going to keep my money and also gold coins. I even told the manager to give my refund and you deal with *** and the insurance but he kept telling me they require the police report to give my money back. By law, when there is no packages delivered to the receiver, the sender is solely responsible for any loss. Additionally, they received both packages back from **** Business Response /* (4000, 9, 2022/07/06) */ Dear Sir: Now that we have received all the required paperwork back from you, we can proceed with processing the claim. Consumer Response /* (4200, 11, 2022/07/07) */ (The consumer indicated he/she DID NOT accept the response from the business.) I have received emails from their claim department saying the claim got approved. I wanted the full refund but they said I can either get them reshipped or partial refund. I am sure they got the same amount I paid them from their insurance company. They are trying to keep money from both parties and give gold coins while the market is lower now. And I do not want *** deliveries again which what they will choose to do again. If they really want me to take the 6 22kt 50 pesos then I prefer local pick up from their Dallas office and the partial refund for the differences of the price now and the prices I paid then. I have been trying to get in touch with the claim supervisor Erin but she's not returning calls nor emails. And I cannot even get in touch with the manager guy who once called me because I filed a report to BBB.

• Initial Complaint

  02/03/2022

  Complaint Type:

  Delivery Issues

  Status:

  Answered

  More info

  "****** ****** purchased a package from provident metals and never received the item purchased. This incident started with a shipping update sent from provident metals via email to an outdated email which leads to theft.

  

  Business response

  03/17/2022

  Business Response /* (1000, 5, 2022/02/08) */ Thank you for your inquiry. Please provide a Provident Metals Order # which applies to this case. There were not any order numbers under the email address or name provided on this complaint. More information needed. Provident Metals Consumer Response /* (3000, 7, 2022/02/10) */ (The consumer indicated he/she DID NOT accept the response from the business.) The document attached was mailed certified mail to the following parties. Address and Order number are clearly provided on the notice document. Provident Metals Corp Attn: Legal Department 6125 Luther Lane, #465 Dallas, Texas XXXXX XXX-XXX-XXXX ****@providentmetals.com (XXX) XXX-XXXX To: Office of the Attorney General Consumer Protection Division PO Box XXXXX Austin, TX XXXXX-XXXX To: BBB Serving North Central Texas 1601 Elm Street, Suite 1600 Dallas, TX XXXXX-XXXX (XXX) XXX-XXXX Business Response /* (4000, 9, 2022/02/18) */ Dear Sir: Thank you for your inquiry and the order information. We apologize, however, our insurance doesn't cover theft once delivered. Provident Metals Consumer Response /* (4200, 11, 2022/02/22) */ (The consumer indicated he/she DID NOT accept the response from the business.) seller policy of not insuring theft is unacceptable. Provident metals has received my certified mail with no response yet. Provident metals is obligated legally to assign an investigator to mail theft and to cordinate with local usps postal inspection services. contacts are as follows. Speacial agent Leo ******** XXX XXX XXXX Detective Duffy cape coral police 239.574.0619 provident metals has yet to contact these leeds. provident metals needs to provide the serial number that was stamped unto the kilo silver bar that coincides with order number pmXXXXXXXXX in the case the bar is found and ends up confiscated in a police evidence room and/or a local jewlery dealer. ****** needs the serial number to match his order number.

• Initial Complaint

  09/21/2021

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Why did they never shipped my package?! This claim has been denied after exhaustive and repeated review of all available evidence. The results have been discussed with you. No further information is available, and no further communication from JM Bullion will be issued regarding this claim. No refund or reshipment may be issued for a denied claim. Claims Department Last week I reached out to Provident Metals Customer Service regarding a purchase order I made in May of this year. It was a pre-sale order and a shipping label was finally created on July 7th, but it was never shipped. I asked for the status of this order. I wanted to know why it was never shipped. Instead, I was told that I was ineligible to file a claim. From USPS: According to our system, the package was never received from the sender...I suggest you reach out to the sender again and let them know that the Item was never in transit through the USPS because as I said it was never sent...

  

  Business response

  12/03/2021

  Business Response /* (1000, 5, 2021/09/22) */ Dear Sir: Thank you for your inquiry. Unfortunately, this order is ineligible for a claim. Please refer to section 13 of the Terms & Conditions to which was agreed to at checkout: Any issues or problems with a shipment must be reported within 2 business days, else Provident Metals may have to refute any claims. Please be aware that our ability to investigate precious metals deliveries is time-sensitive. Provident Metals Consumer Response /* (3000, 7, 2021/09/28) */ (The consumer indicated he/she DID NOT accept the response from the business.) The USPS confirmed that Provident Metals NEVER sent the shipment to the Post Office. They only created an electronic shipping label which any one can do. The fact that the USPS never received the item means that they still have possession of both my money and merchandise. As a result of the USPS never receiving the item its nulls Provident Metal's Section 13 of their Agreement; A SHIPMENT WAS NEVER EXECUTED! Business Response /* (4000, 9, 2021/10/06) */ Dear sir, thank you again for your inquiry. The label was created on 7/7/2021 at 12:51 pm USPS received the parcel on 7/7/2021 at 4:46 pm. The evidence shows the order was shipped and the order is not eligible for a claim because the reported shipping issue was reported too late as per our responses back. Provident Metals

• Initial Complaint

  08/23/2021

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  My order, placed on 6/3/21 in the amount of $608.48, was shipped by Provident on 6/10/21 via United States Postal Service Priority Mail, USPS Tracking. It was never delivered. The tracking number is XXXXXXXXXXXXXXXXXXXXXX. The last scan was on 6/14/21, 5:43 AM, "Departed USPS Regional Facility SCRANTON PA DISTRIBUTION CENTER." When I reported the missing delivery, Alicia from Provident claims responded: "Your claim is not accepted for the following reasons: late reporting, order shipped and delivered to a UPS store." The order was never delivered, and I did not report within 2 business days due to well publicized delivery issues with the USPS-I was being patient. I have made many purchases since 2013, and subsequently requested a courtesy exception and refund. After many emails and calls, Alicia's final response was: "No further communication from Provident Metals will be issued regarding these claims. No refund or reshipment may be issued for a denied claim."

  

  Business response

  12/08/2021

  Business Response /* (1000, 5, 2021/09/03) */ Dear sir: Thank you for your inquiry. Unfortunately, the claim has been denied due to late reporting as has been reported to you by our claims department. Per our terms and conditions, non receipt of products must be reported within 2 days for claim and insurance filing purposes. Please be aware our ability to investigate deliveries is time-sensitive. Provident Metals Consumer Response /* (3000, 7, 2021/09/10) */ (The consumer indicated he/she DID NOT accept the response from the business.) The claim was denied AFTER it was already accepted and processed. In addition, a different customer who also reported late WAS refunded. Please see the following timeline and attached file. Timeline: 7/26/21: I emailed Provident that I did not receive my order (Attachment A). 7/27/21: Provident replied that my order is fully insured while in transit and they would ask their claims department to start an investigation (also Attachment A). 8/11/21: They emailed me that my claim was still under investigation and I would receive a sworn declaration as soon as they received an update (Attachment B). 8/11/21: Claim order #737 declaration was sent to me via email (Attachment C). 8/12/21, 9:57 AM: I returned the signed declaration via email (Attachment D). 8/12/21, 11:07 AM: Provident replied via email thanking me for returning my documents and that they had been submitted to the insurance company for processing. They stated that the process may take up to 45 days to complete... however in most cases the review period is 7-10 business days (Attachment D). 8/12/21, 11:48 AM (41 MINUTES LATER): Provident emailed me, stating "Your claims are not accepted for the following reasons: Late reporting and Order shipped and delivered to a UPS store" (Attachment E). The email from Provident stated that my documents had been submitted to the insurance company for processing. How can my claim be denied after it was already accepted and processed? As far as the claim being denied because the order was shipped and delivered to a UPS store: The order was shipped, but it was never delivered, so the claim cannot be denied for the reason of being delivered to a UPS store. Additionally, the language in section 13 of their Terms and Conditions reads: "Any issues or problems with a shipment MUST be reported within 2 business days, else Provident Metals may have to refute any claims." The wording "else Provident Metals may have to refute any claims" suggests that Provident Metals picks and chooses which claims it will accept and process and which claims it will refute and deny. A 3/23/21 Better Business Bureau complaint substantiates this suggestion: in that complaint (Attachment F), Provident refunded a customer who contacted them "a few weeks" after they did not receive their order. If they refund one customer who reports a lost shipment late, they should treat all customers alike and refund every late reporting customer for every lost shipment. When packages are lost, Provident receives the money for the orders and the customers are out the money and the product through no fault of their own. I have two orders which were paid for in full for that were never delivered. The second order was in the amount of $2,024.40. Provident grouped both claims together in one denial (Attachment E). I suspect that they retracted their acceptance of the first claim and denied claims for both orders when they discovered that the second larger order was also never delivered. Please see Better Business Bureau complaint #XXXXXXXX regarding the $2,025.40 order. In light of all of the personnel issues, service disruptions, and hardships caused by Covid 19, I was being patient with the delivery and did not contact Provident Metals immediately. I have purchased from Provident Metals since 2013. As an 8 year customer, I was hoping that a fellow human at Provident Metals would consider the current circumstances and, as a result, be understanding, compassionate, and fair and issue a refund. Although it is disturbing that the shipment has been lost or stolen, the unsympathetic responses that I have thus far received from Provident Metals upsets me just as much. Business Response /* (4000, 9, 2021/09/22) */ Dear Sir: Thank you again for your inquiry. Our response has not changed: Unfortunately, the claim has been denied due to late reporting as has been reported to you by our claims department. Per our terms and conditions, non receipt of products must be reported within 2 days for claim and insurance filing purposes. Please be aware our ability to investigate deliveries is time-sensitive. Also please be aware our policy is not to discuss any other customer's case to uphold their privacy. Provident Metals Consumer Response /* (4200, 11, 2021/09/29) */ (The consumer indicated he/she DID NOT accept the response from the business.) I am very disappointed with your response. It baffles me that I paid for an order that I never received. It's upsetting that you are willing to apathetically terminate an eight year relationship with a good customer. I hope that you will kindly reconsider and refund my money as a goodwill gesture.

• Initial Complaint

  07/24/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  On June 23, 2021 I ordered 7 silver coins from Provident metals. I checked for the status of the orders on July 9, 2021. It said to please allow more time and that the order was on its way (see attached). On June 14, 2021 I contacted Provident metals and asked for a refund because it was apparent that the package would not be delivered. They responded to me saying that they could not issue a refund. On their company website (see attached), they clearly state that a refund would be issued for packages not delivered. I would like a refund for this failed delivery.

  

  Business response

  10/07/2021

  Business Response /* (1000, 5, 2021/08/04) */ Dear Sir: Thank you for your inquiry, we really appreciate it. We have reshipped out the 7 bars that were not delivered to you, they show delivered to you on 7/31/21. Per our terms and conditions, we will choose whether to refund or reship. Regards Provident Metals

*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. ↩