ComplaintsforAmerican Coin Co.

• Initial Complaint

  03/13/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Unanswered

  More info

  Converted the govt. ************** Plan *** to a precious metals *** through **************** in May 2022. Through the account representative I was provided a document of what what was purchased. I was new at this so I completely trusted the representative. Last year Oct. 2023 I found out that my account was now being taken care of by American Coin Company. Last week 2/12/24 I sent an email to the representative stating that I wanted to liquidate my assets because when the ************** Plan was converted to a precious metal *** only half of the proper amount of silver (in ounces) was purchased. I brought this up to the representative last year Oct 2023 because I was new to this he indicated that his company (stated in email) would buy back the .5 ounce silver ******** Red Tail Hawk coin for $33.95 even though the spot price at the time was somewhere around $23. So far I have not been contacted by that representative. I've left phone messages, emails and text messages and have yet to be contacted by him. The accounting document that was sent by the american Coin Co. representative to me says that my retail value is $194K. The custodian of my *** Equity Trust says that my account has only $64K, about 1/3 of what I should have in my ***. Seems that this company does not intend to help with my request. Is there any recourse for me in this matter?

• Initial Complaint

  02/23/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Unanswered

  More info

  I was charged $20,000 for 300 1 oz silver coins that I was told were non-cusip, untraceable "high-end" silver coins. The coins I was sold hold no such increased value over their intrinsic value as 1 oz of silver. I was told these 300 coins were worth $20,000 when in fact they were worth, at the time of my purchase, approximately $24 each, not the $66.66 I was charged. I was also told I had a price protection plan which guarantees the purchase price for a certain number of days based on the amount of the purchase. I was told I had 37 days to take advantage of it. The first time I tried to call my sales **** ************************** I received no answer and no call back. The second call I talked to ************************* and he told me I had only 4 days left to take advantage of the price protection plan, but that was inaccurrate. I in fact had over 2 more weeks. When I realized that mistake I tried to call as well as email, expressing my dissatisfaction but again received no response. The 17 coins Travion said I had coming to fullfill my price protection guarantee never came, nor did I receive any validation email. This was when I seriously began to question my purchase and all I'd been told, including the company's integrity and began to look into the coins. The agreement in Docusign states that my satisfaction is guaranteed. I'd like to see them stand by that. I was well within the specified time frame , I believe with all of my attempted calls and emails. At this point I am very fearful that I have just thrown away2/3rds of my personal savings. I would prefer my money to be refunded in full.

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