ED Magedson – Founder
Goldline International, Inc.http://www.goldline.com Internet United States of America
SPECIAL UPDATE: June 15th 2012: Goldline International remains committed to increased customer satisfaction and has improved their business practices over the years to better serve their customers. Goldline International is truly dedicated to making sure their customers are satisfied and that any complaints which do arise are addressed promptly and fairly.
To date, Goldline International has made good faith efforts to resolve all complaints reported on Rip-off Report. Based on our experience, the member business has proven to be among the top members of the Ripoff Report Corporate Advocacy Business Remediation and Customer Satisfaction Program as a Verified Safe Business.
Over time and since becoming a member, Goldline International has remained actively engaged and improving the way they address customer service complaints. As an active and current member of the Rip-off Report Corporate Advocacy Business Remediation and Customer Satisfaction Program we are happy to report that now more than ever Goldline International remains committed to improving customer satisfaction.
Remember, no company or individual can ever satisfy 100% of the people 100% of the time. There are no products or services that will always be perfect for everyone and even the best companies will receive complaints from time to time. However, by participating in the Corporate Advocacy Program, the member business has made a commitment to working with its customers to resolve complaints quickly and fairly whenever possible.
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Goldline International, Inc. Naive New Investor down $1600 New Castle, Pennsylvania
I can not believe how stupid I was. I thought "how could I be mislead by Glenn Beck, Fred Thompson and Marvin Levin?" Unfortunantly I did my homework after the test. If I had done a simple web search, I would have found the stories about this company instead of reading my own in their stories.
I contacted Goldline because of the advertisement by Glenn Beck. I found both Marvin Levin and Fred Thompson as satisfied customers. Why would I doubt the company's reputation if they recommended them? The answer to that question is, I suspect, they have a lot more to invest and probably are treated differently. (Or maybe Goldline's system of paying the selling commission up front works for them.)
Basically, I was pursuaded to buy Swiss Francs ("That had just become available and were such a good deal"). From reading the stories on-line I realize they just get a larger commission on them. I was strongly encouraged to invest between $20,000 and $40,000 by my "investment advisor." Luckily, I only had $5000 currently available. I was warned about the gold confiscation (whatever that was) and told they would be behind me from buying to selling etc. I was horrified to find from one of the other stories that their "buy back" price is low. I can wait till I sell them for that news, I have had enough bad news right now. After my purchase I was sent a thank you with a hand written note saying that my "financial advisor" was impressed with how I handled my investments. I can not believe I was stupid enough to tell them all about all of my finances. But again, how could Glenn Beck mislead me? They must be reputable.
After I made the purchase, I finally did my homework and found that the coins I had purchases for $318 each could be bought for $208 - $218 each on other sites. I spend over $5000 to get coins worth $3520 at most. As others have pointed out over a 30% mark up. I called my "advisor" and got the same story everyone else does - we are saving you money when you sell them because you have already paid the commission up front etc. I ended the conversation saying I needed to do a little homework. That is when I found this site and read my story.
I just called back to find out if I can get a refund - which I can not even though I only received the coins two days ago. Apparently, the money back guarantee is from the date of purchase, not the day of delivery. The only solice I have is that I did not make more purchases and if I wait long enough (how many years I don't know) I might make my money back. In all fairness, they said I should count on holding my coins for 5 - 6 years, so we will see.
Just be aware of the fact that I heard almost all the same lines everyone else did. I had never purchased any gold so I was a sitting duck. I blame myself for my naivity and getting caught up in the moment. Perhaps this plan works for very large investors but for people like myself, it was not a good idea. I will, as one of the others stated, continue to buy gold but I am now a more educated investor. I am not saying they did anything illegal but I would not recommend anyone else deal with them.
This report was posted on Ripoff Report on 08/19/2009 04:12 PM and is a permanent record located here: http://www.ripoffreport.com/r/Goldline-International-Inc/internet/Goldline-International-Scam-Review-Complaint-REVIEW-Goldline-Internationals-commitment-482563. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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