• Report: #385887

Complaint Review: Universal Coin And Bullion

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  • Submitted: Wednesday, October 29, 2008
  • Last Posting: Wednesday, December 31, 2008
  • Reported By:N. Fort Myers Florida
Universal Coin And Bullion
7410 Phelan Boulevard Texas 77705 U.S.A.

Universal Coin And Bullion Gold and Platinum coin sales at far more than market value Universal Coin And Bullion Texas


1Author 0Consumer 1Employee/Owner

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In 2007 I purchased thousands of dollars of gold and platimun coins from this company, with the assurance that they were collectable coins. I know find out they are only worth their melt value as I have contacted many dealers, locally and on the internet and have only been offered a couple of percent under melt value and told by all of them that their is no collector value whatsoever. I would be willing to enter into a class action lawsuit against this company as they use very deceptive marketing methods to sell their products to ordinary people like me. If anyone else would like to start a lawsuit against them, I would be more than happy to join in. Please contact William H. (((ROR REDACTED))) Companies such as this must be stopped, if I wanted bullion, I would have just bought bars of Gold and Platinum, not supposidly collectable coins.

William
N. Fort Myers, Florida
U.S.A.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

This report was posted on Ripoff Report on 10/29/2008 7:05:09 AM and is a permanent record located here: http://www.ripoffreport.com/brokerage-companies/universal-coin-and-b/universal-coin-and-bullion-gol-e5547.htm.

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REBUTTALS & REPLIES:
1Author 0Consumer 1Employee/Owner
Updates & Rebuttals

#1 Employee

Resolution of Claim by Mr. Willions

AUTHOR: Mfuljenz - Beaumont (U.S.A.)

William from N. Fort Myers, Florida is a customer of my company, Universal Coin & Bullion Ltd. (“UCB”). On October 29, 2008, William posted a report regarding my company after receiving false information from third parties. After posting the erroneous report, William communicated with my company and concluded his issues with UCB were based upon misinformation received from other coin dealers. On December 10, 2008, William sent the email below to our office:

From: William
Sent: Wednesday, December 10, 2008 7:05 AM
To: Forest
Subject: Retraction of Rip-Offf Report

Dear Forest; You have been very helpful since you contacted me after my filing of the Rip-Off Report. The other dealers I was talking to were just trying to rip me off by giving me the melt value of the coins I bought from you, You offered me much more than the bullion value of the coins, and I appreciate that. I tried to retract my rip-off report but the site does not allow that, so I hope this email will suffice to state that I was mistaken in filing the original report, I should have contacted you first. Sincerely, William. Please feel free to have any customers contact me for verification. Sincerely, Bill

Obviously, it is the desire of William to retract the October 29, 2008 report. However, the policies of this website preclude such action by William. Like thousands of others, William is a satisfied customer of UCB. Our commitment to the highest level of ethical service to our customers such as William is evidenced by the following:

UCB is an A+ rated member and has been in good standing of the Better Business Bureau of Southeast Texas since 1995. In 2008, our newsletter won a 10th Numismatic Literary Guild Award, and I was also awarded a 2008 Best Dealer Publication Award. This month, The Money Show of the Southwest honored me for 20-plus years of service to the coin collecting community.

I am presently a Board member for the Industry Council for Tangible Assets. I have contributed to most leading price guides available for over 20 years, including The Redbook and The Insider's Guide to U. S. Coin Values. During this time, I have taught more than 20 seminars for the American Numismatic Association on grading, pricing, and counterfeit detection. In 1996, I received the Presidential Service Award from the American Numismatic Association.

I am a member of the Professional Numismatic's Guild (“PNG”) and pledge to arbitrate customer disputes with the PNG as well as the Better Business Bureau. I have never had to arbitrate a dispute with either organization.

All customer transactions with UCB are double verified and recorded to ensure the highest level of customer service. Our verification script has been reviewed favorably by the former head of the Federal Trade Commission's Consumer Protection Division. Finally, our buy and sell prices are competitive with other retail coin dealers.

Finally, this posting has done damage to our business, was inaccurate and we are formally requesting that it be removed in its entirety.

Thank you for your assistance,

Mike Fuljenz

President, Universal Coin & Bullion, Ltd.

mike@universalcoin.com
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