• Report: #482563

Complaint Review: Goldline International, Inc.

  • Submitted: Wed, August 19, 2009
  • Updated: Fri, June 15, 2012

  • Reported By: Mary — New Castle Pennsylvania USA
Goldline International, Inc.
http://www.goldline.com Internet United States of America

Goldline International Scam Review | Complaint REVIEW: Goldline Internationals commitment to total customer satisfaction. Goldlines past & current approach to business is focused on providing the highest quality customer service to their clients along with important information on acquiring precious metals, including gold & silver
*UPDATE: Goldline International pledges their commitment to Ripoff Report Corporate Advocacy, Business Remediation and Customer Satisfaction Program. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. Goldline recognized by Ripoff Report as a Verified Safe business.

*Consumer Comment: How To Buy Gold, If You Must

*General Comment: I can believe

* : Better ways.

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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.

Please keep in mind that as a consumer you have some responsibilities as well. Success has many definitions that based on your past experiences, current situation and your perceived expectations. Success with any product or service is always based on the proper application and understanding. The fastest car will not run if you never turn the engine on. Look at how you used the product or service that was provided in relation with the instructions that you received. The Corporate Advocacy Business Remediation and Customer Satisfaction Program will help you get your voice heard but please be prepared with documentation and fair representation of your concern, also have an idea of how the company can fix your concern. Can they offer additional services, extend warranties, offer a fair refund or just get you talking with someone that can help. ..let them know and let us know!

*Any consumer not receiving satisfaction from a member of the Corporate Advocacy Program should email us at editor@ripoffreport.com
 Goldline International is Rip-off Report Verified

Ripoff Report Review:

Editors UPDATE: Positive Rating and Recognition has been given to Goldline International for its Commitment to Excellence in customer service.

Ripoff Reports investigation of Goldline International uncovers an ongoing commitment to client satisfaction. This means clients can expect that Goldline will always work towards finding a mutually satisfactory resolution to complaints or concerns. Goldline listens carefully to client concerns and sees them as an opportunity to learn and become more efficient as a company in the products it offers.

One top Goldline executive stated to Ripoff Report that Goldlines clients are a precious resource and it is committed to responding to any client concerns. Another company executive confirmed to Rip-off Report that Goldline strives to provide exemplary customer service to its clients.

Some of the other things Rip Off Report learned in the course of its review: Goldlines business began in 1960 when it offered precious metals and storage services to clients seeking to acquire gold and silver as part of a diversified portfolio. The company has grown to more than 250 employees and handles over 50,000 individual client transactions each year. Goldline believes it exemplifies best practices for the industry.

Ripoff Report has confirmed that Goldline takes client concerns very seriously. Goldline has a dedicated team of customer service professionals to assist with any issues that may develop. Ri-off Report was pleased to learn that Goldlines approach to business is focused on its pledge to client satisfaction.

Goldline International recognizes that complaints posted on Ripoff Report (true or not) are issues that need to be addressed and if handled correctly can be valuable learning opportunities. With the feedback generated by Rip-off Reports Investigation Goldline continues its commitment to positive client experience.

In summary, after our review, which included discussions with Goldlines executives, Ripoff Report is convinced that Goldline International has been and is committed to providing precious metals and rare coins to satisfied clients.

Read more about Goldline Internationals Commitment to Excellence and Total Consumer Satisfaction and why consumers should feel safe, confident and secure when doing business with a member of Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. ..yes, a long name for a program that does a lot for both consumers and businesses alike.

Read about Rip-off Report Corporate Advocacy Business Remediation & Customer Satisfaction Program,..A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.



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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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#1 Consumer Comment

How To Buy Gold, If You Must

AUTHOR: Will Sterling - (United States of America)

I find the statement "How could Glenn Beck mislead me?" somewhat amusing. Hopefully her bad experience might encourage her to ponder that question a bit longer and come up with some answers.

The first rule in buying and selling gold should be to avoid any company that is spending money on advertising. If their margins are high enough to pay for a national ad campaign, then you are probably getting ripped off.

Next, realize that buying and selling gold is a bit of a losers' game. For reference, my local bullion dealer's daily price chart can be found here: http://www.golddealer.com/bullionpage.html

For example: As of Friday, the markert price of gold was $1,119.40 per Troy ounce. Yet a 1 Troy ounce US gold coin sells on the same day for $1,209. Therefore, you take a 7.4% loss on your "investment" the moment you make it. Gold Bullion such as 1oz PAMP Suisse bars sells for $1,154, so the loss at purchase is a little less.

To minimize this loss, if you plan on holding gold for a short timeframe, you may want to consider buying Gold ETFs, IAU or GLD. Both have an expense ratio of 0.4% per year, so your hit on purchase is less than buying physical gold, though over time that advantage will go away.

Think about the downside as well as the upside when you invest in Gold. More than 80% of gold gets used for jewelry, and the markets in India and China are the biggest source of demand. This demand has proven to be quite price sensitive. One might expect demand to increase as these two countries get richer, but one might also find that as they become richer and infrastructure more developed, other items begin to replace gold as outlets for conspcious consumption, such as cars, electronics, and housing. Gold as jewelry is very much a "fashion" and it is subject to losing favor as new generations discard the styles and traditions of the past.

If you think this is unlikely, just look to the United States where currently the only people who seem to have an affinity for gold jewelry are rap stars and aging "ladies who lunch".

Good luck to you all.

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#2 General Comment

I can believe

AUTHOR: getjdb - (USA)

Why in the world would someone spend money because a celebrity recommends something?
Do you really think you can mindlessly spend your money that carelessly?
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Better ways.

AUTHOR: Flynrider - (U.S.A.)

   For gold investments, your best bet is to find a reputable local or Internet dealer and buy common bullion coins such as American Eagles or Canadian Maple Leafs.  They are commonly bought and sold at the spot price, plus overhead.   These days a typical 1 oz. Eagle might cost spot plus $45 - $50, and sell for spot plus $7 -$9.  Meaning the total overhead to buy and sell one ounce would be $38 - $41 (roughly 3 1/2% to 4%).   That's a lot less than those crazy commissions you were charged.  I don't think that anyone who is serious about investing in gold would pay the kinds of commissions you paid.  There is no need to.  I suspect that companies like this exist only because people do not do their homework.   If I met a dealer who tried to call himself a "financial advisor", I'd immediately run in the opposite direction.   By the way, the SEC would be very interested to know about gold brokers who call themselves "financial advisors".

   In the future, keep it simple.   There are hundreds of sources where you can buy and sell bullion with very little overhead.   If someone tries to use the "gold confiscation" scheme to steer you to a higher overhead product, you know you're being had.   It's the equivalent of the car salesman that claims the car was only driven by a little old lady to church on Sundays.


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