• Report: #1001842

Complaint Review: Swiss America

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  • Submitted: Wed, January 23, 2013
  • Posted: Wed, January 23, 2013

  • Reported By: XRealtor — Augusta Georgia United States of America
Swiss America
15018 N Tatum Blvd Phoenix, AZ 85032 Phoenix, Arizona United States of America

Swiss America "Investment Grade Coins" down 50% Trusted the "Professional" BIG MISTAKE Lost $22,000 Phoenix, Arizona

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Contacted Swiss America to purchase gold at end of 2009. Found a sales associate and explained my desire for asset protection. Company advertises on Rush Limbaugh. Was advised to purchase "Investment Grade" coins which were much pricier than bullion. The professional explained that graded coins with "numismatic" value far above their gold value would best hold their value over time. We debated that assumption over several phone conversations. I thought bullion coins were better for my needs, but he insisted history proved his theory correct. I spent $43,000 on coins now worth $21,500. If I'd purchased bullion, I would have made money. I was given the wrong info, either intentionally or unintentionally. Since another victim reported an identical percentage loss on his investment, I thought it a good idea to also report my experience. I recently contacted Swiss America about selling some of my coins to raise funds for property taxes and they were less than generous with their buy back offer. I'm very disappointed. I thought I could not go wrong with gold, but beware of overpaying, get educated first and then go with your gut, no matter what the salesperson says.

This report was posted on Ripoff Report on 01/23/2013 09:59 AM and is a permanent record located here: http://www.ripoffreport.com/r/Swiss-America/Phoenix-Arizona-85032/Swiss-America-Investment-Grade-Coins-down-50-Trusted-the-Professional-BIG-MISTAKE-Lo-1001842. 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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