Complaints

This profile includes complaints for American Gold Reserve's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  American Gold Reserve

  Houston, TX 77036-1532

• 

  American Gold Reserve

  7100 Regency Square Blvd Ste 275 Houston, TX 77036

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

• Initial Complaint

  Date:11/20/2024

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Purchased one 1900$ gold coin from *** in August, since have been harassed by numerous staff and stated owner of *** on a emergency business line that handles Water emergency calls. We handle 24/7 calls and have to answer the phone, they will not stop calling. Will not remove the business line from their calling services, and refuse to stop calling. They have stated they have a right to continue calling an water emergency business line, and have now prevented two calls from coming through the line.

  Business Response

  Date: 12/06/2024

  Dear Mr. ********************* you for making us aware of this situation. We do make periodical calls to our clients, to keep them knowledgeable of current market movements. We will place you on our DNC list. In the future, if you have any questions or concerns, give us a call. 

   

  AGR - Compliance

• Initial Complaint

  Date:10/24/2022

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I contacted American Gold Reserve to purchase $5 **** ******** ***** coins after viewing an advertisement in a magazine showing a sales price of $229 each in December of 2021. The agent I was directed to was John, who began the conversation by asking if I had ever purchased gold before. I stated I hadn’t. He started telling me the $5 coins I wanted had no real return, but I needed to buy $10 coins, then $20, then $50. He said I could make a profit of $45K in less than one year. He said the cost of the coins was $1,995 each, but I did not have the money to make such a great purchase. Through much discussion and a lot of pressure from John, I stated I could only afford three coins at that price. Because the purchase was so large, I had to contact my bank in person to approve the purchase amount, which caused several calls back and forth to John and with each call, he continued to pressure me into buying more coins. He said if I ever found myself needing money sooner than one year, I could call them and sell back two coins for $10,000 and keep one for free, which would still be a great return. The transaction finally went through and I was invoiced and mailed three $10 coins on 12/8/2021. It was just in April this year (2022) when I faced a financial hardship that I reached back out to American Gold Reserve to cash in 2 coins as previously mentioned for $10K. John was conveniently never available when I called. Another sales person told me they couldn't honor the deal nor could I be refunded my purchase price of $5,985. I could only send back coins to sell on the current market, which was nothing close to my original purchase price. I spoke with a nearby gold coin dealer in my state who says the coins are only worth $478 each and that I was overcharged to begin with. I have since seen ads for $50 gold coins for $1795 each (cheaper than what I paid for $10 coins). This is fraud! How do I know I will get any money back if I return coins?

  Business Response

  Date: 10/25/2022

  
  We stand behind our process and we deliver exactly what is agreed upon as we have a verification process before we ship anything.

  If you're not happy please contact our office immediately at (866)852-3346.

   

  Best regards,

  American Gold Reserve

   

  
  

  Customer Answer

  Date: 01/13/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this proposed action would not resolve my complaint.  
  
  [Provide details of why you are not satisfied with this resolution.]
  
  Regards,
  
  
   I tried to submit this report with BBB back in August 2022. I contacted American Gold Reserve to purchase $5 **** ******** ***** coins after viewing an advertisement in a magazine showing a sales price of $229 each in December of 2021. The agent I was directed to was John McDaniel, who began the conversation by asking if I had ever purchased gold before. I stated I hadn’t. He started telling me the $5 coins I wanted had no real return, but I needed to buy $10 coins, then $20, then $50. He said I could make a profit of $45K in less than one year. He said the cost of the coins was $1,995 each, but I did not have the money to make such a great purchase. Through much discussion and a lot of pressure from John, I stated I could only afford three coins at that price. Because the purchase was so large, I had to contact my bank in person to approve the purchase amount, which caused several calls back and forth to John ******** and with each call, he continued to pressure me into buying more coins. He said if I ever found myself needing money sooner than one year, I could call them and sell back two coins for $10,000 and keep one for free, which would still be a great return. The transaction finally went through and I was invoiced and mailed three $10 coins on 12/8/2021. It was just in April this year (2022) when I faced a financial hardship that I reached back out to American Gold Reserve to cash in 2 coins as previously mentioned for $10K. John ******** was conveniently never available when I called. Another sales person told me they couldn't honor the deal nor could I be refunded my purchase price of $5,985. I could only send back coins to sell on the current market, which was nothing close to my original purchase price. I spoke with a nearby gold coin dealer in my state who says the coins are only worth $478 each and that I was overcharged to begin with. I have since seen ads for $50 gold coins for $1795 each (cheaper than what I paid for $10 coins). This is fraud!