• Report: #701799

Complaint Review: Phoenix Coin LLC

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  • Submitted: Wed, March 02, 2011
  • Updated: Mon, March 28, 2011

  • Reported By: Sheckey1 — Camarillo California United States of America
Phoenix Coin LLC
7558 W. Thunderbird Rd., Suite 1-617 Peoria, Arizona United States of America

Phoenix Coin LLC Ripped Me Off, Held Back Payment From Check For Gold And Silver I Had Sold Them! Scam Artists! Peoria, Arizona

*REBUTTAL Owner of company: Phoenix Coin LLC Owner

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Be warned. Phoenix Coin LLC, located in Peoria, Arizona, on 7558 W. Thunderbird Rd, Suite 1-617 will seem like a trusted company. They will smile and shake your hand like someone that you might have met a long time ago and are reuniting with as long lost friends might do after being appart for along time. Although, I know what  greedy, money stealing little rip off artists, they really are.

Here`s what happened to me very shortly after receiving a flier in the mail back in late December of 2010 that read, "HUGE Buying Event Only 5 Days!".  Modern Day Treasure Hunters In Your Hometown!. At the bottom of the front of this flier it also read, "YOUR PERSONAL INVITATION". In very trusting capitol letters. So being a somewhat trusting fool that I was, I proceeded to open it up and give it a thorough reading and mabey even decide on weather or not to stop in to sell some silver that I acquired on ebay a few years back as well as some really old silver dollars that I knew were worth quite a bit more than I realized until going on line and looking them up as to get an Idea of there worth. I had also purchased some gold on the internet not to long ago when the prices started to jump up rather quickly.  My father passed away 1 year ago in December of 2009 at 84 yrs old, as well as my mother passing away back in 2002 at age 70.   I end up getting laid off just prior to my fathers passing away, things were not exactly looking very posative for quite a long while. In fact they are still not looking good at all. 

So along with acquiring my mother and fathers old house. The same house I remember growing up in as a child, I also acquire the $60.000 dollar mortgage debt that my mother and father had taken out on the equity of the house ten or fifteen years earlier. I also find out that none of the actual debt has been paid back since they took it out. My father had only been paying the interest on the loan once a month for the last ten years or so.

Needles to say money is non existant right now. So when Phoenix Coin LLC. came to my area I thought that I could sell some or most all of the silver and gold I owned and pay most of the late bills that are way over due and get some food to live on for the time being.

After driving a short distance to the location that was provided on the flier I spoke with one of there reps and showed them what I had for sale. After examining the things that I brought I was handed a piece of paper that had $1400.00 on it. Even though I was taking a huge loss on the sale I really needed money bad. So I agreed to the amount and shook there hand and accepted there check, that I was of course reassured was lagit.  Being Sunday afternoon and no banks were open I really had no choice but to take there check and wait until Monday to deposit it in my 200+ dollar overdrawn bank account.

Everything went according to plan except when I went to the grocery store the very next evening and tried to pay for $210.00 worth of food my check debit card would not accept the amount and it kept telling me Insufficiant funds in the account!.  I thought wait a minute I just deposited $1400.00 dollars yesturday, there has to be pleanty of money in the account for the grocerys! Right? Wrong!!! I drive home and go to my account on line and I see it saying something about check funds not available. By this time I`am red, I`am ready to bite someones head off. I wait untill the next morning right when my bank opens up.

I go in and start raising my voice as to what the h*lls going on with the reason I cant use my debit card and they quickly inform me the payment on the check from Phoenix Coin LLC, was withheld by them for reasons unknown. So I `am wondering whats going on with why they are now stopping payment on the check that was issued with no reason as to why. I quickly call the company and I keep getting an answering machine saying that there not in the office right now and to leave a message so they can return my call. That was two monthes ago and 50 or 60 calls ago with nobody ever in the office and me leaving them a message to please return my call asap so I can at least find out there reason for stopping the payment on the check that was issued. I`am still waiting and still no return call no nothing?.......       

This report was posted on Ripoff Report on 03/02/2011 02:00 PM and is a permanent record located here: http://www.ripoffreport.com/r/Phoenix-Coin-LLC/Peoria-Arizona-85381/Phoenix-Coin-LLC-Ripped-Me-Off-Held-Back-Payment-From-Check-For-Gold-And-Silver-I-Had-So-701799. 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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Updates & Rebuttals

#1 REBUTTAL Owner of company

Phoenix Coin LLC Owner

AUTHOR: Phoenix Coin LLC - (United States of America)

Phoenix Coin LLC I can be reached directly at 602-301-9891. I'm sorry to hear that there was an issue that myself or my manager was unawarwe of. This blog was just brought to my attention by a close friend. My manager of two years answered all calls and if ever an issue came up where we needed to stop payment on a check I was always notified. We last did business in Camarillo CA where we hold city, county and CA Dept. of Justice Licenses as well as are Weight Masters with the CA Dept of weights and measres, this past January 4th Tuesday through the January 8th Saturday. Closed on Sunday, however, you state that you received your check on a day we were closed. Waiting till the Monday to deposit into an already overdrawn bank account. You then state that the very next evening you tried to use your debit card to access funds from an out of state check that had not cleared your bank yet. Then to go into your bank "raising your voice" when you are told by your bank that the payment on the check from Phoenix Coin LLC, was withheld by "them" for reasons unknown. Doesn't "them" mean by "your" bank.

At any rate you immediately assume within one banking day that it is something we did that will not allow you to access your funds. I assure you it was nothing we did and to the best of my reculation we did not stop payment on any checks during that time frame. Your story just doesn't add up and I challange you to present some facts. Canceled Checks, Statement from your bank or anything that proves that we somehow "withheld funds for some unknown reason". Like we have the ability to manipulate the banking system.

Fact's will show that you were overdrawn, that your relationship with your bank is stressed and they themselves put at least a (5) day hold on your funds to allow our check to clear which I'm certain it has. I don't know if you owed $200+ or $2,000+ in overdraft but I know it had nothing to do with our check. I'm sure our check has cleared my bank with out looking. We do an average of 400 shows a year and over $20M in checks. Have a "A" rating with the BBB and have an outstanding relationship with our bank.
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