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  • Report: #385887

Complaint Review: Universal Coin & Bullion | Ripoff Report Verified™ …businesses you can trust. Universal Coin & Bullion specializes in rare United States coins, gold, silver and platinum bullion coins, & IRA diversification strategies to clients nationwide. Universal Coin & Bullion provides leading edge acquisition strategies for gold & rare coin markets, award-winning numismatic materials, comprehensive coin consultation services.

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  • Submitted: Wed, October 29, 2008
  • Updated: Thu, August 07, 2014

  • Reported By:N. Fort Myers Florida
Universal Coin And Bullion
7410 Phelan Boulevard , Texas U.S.A.

Universal Coin & Bullion REVIEW: Universal Coin & Bullion’s management & employees committed to customer satisfaction. Universal Coin & Bullion’s approach to business focused on providing highest customer satisfaction in precious metal industry.
*UPDATE: Universal Coin & Bullion pledges their commitment to always improving their operations by joining Ripoff Report’s Corporate Advocacy, Business Remediation and Customer Satisfaction Program. A program that benefits the consumer by increasing their confidence when doing business with a member business. Universal Coin & Bullion recognized by Ripoff Report Verified™ as a safe business service.

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Ripoff Report Verified™ REVIEW:

EDitor’s UPDATE: Positive rating and recognition has been given to Universal Coin & Bullion for its commitment to excellence in customer service.

Ripoff Report’s discussions with Universal Coin & Bullion have uncovered an ongoing commitment by the company to client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns. Universal Coin & Bullion listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.

Universal Coin & Bullion’s President, Mike Fuljenz, has informed us that Universal Coin & Bullion is fully committed to customers the highest quality of customer service both during the transaction and after the transaction. [continued below]....
.....

Universal Coin & Bullion is constantly seeking to improve in all facets of our business with a focus on satisfying the needs of their customers.

The information provided in this report below is based on comments made by Michael Fuljenz during an on-site inspection held by a third party verification company with no biases toward the Universal Coin and Bullion.

Universal Coin is Ripoff Report Verified
Ripoff Report Verified™ .. part of Ripoff 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..

The Universal Coin and Bullion buys and sells bullion and rare coins to collectors, investors and other businesses. It also provides leading edge acquisition strategies for gold and rare coin markets. It also provides award-winning numismatic materials, and comprehensive coin consultation services. Universal Coin and Bullion has been a national gold and silver dealer since 1994. Universal Coin and Bullion delivers the precious bullion and coins to customers via couriers such as USPS express and priority mail. Additionally, The Universal Coin and Bullion provides customers with 100% satisfaction guarantee.

According to Michael Fuljenz, the president of the company, all leads are generated through advertisements. Mr. Fuljenz stated “We advertise our business service in leading numismatic, other professional publications, and occasionally media television, blitz type of advertisement.” Universal Coin and Bullion does not participate in “cold calling” of any kind. Potential clients will indicate interest by calling the company to inquire about or products and services. After there is client interest in Universal Coin and Bullions products/services, by calling the company, Universal Coin and Bullion’s staff will explain the company’s products and services and answer any and all questions that the person may have.

Typically after a potential client calls the sales office to inquire about products and services the staff will help the customer make decisions. The goal is to help the customer decide about the products and services that might fit their individual circumstances and needs. According to Mr.Fuljenz, “Trust and being comfortable with every detail of any transaction is our ultimate goal.” Universal Coin and Bullion is focused on providing the highest quality customer service after the transaction as well. Customers can turn to their account representative or managers for continued information and guidance related to their coin purchases.



Universal Coin & Bullion Customer Care & Complaint Resolution

Occasionally, the client will not be satisfied with a particular coin that was purchased. In that case, Universal Coin and Bullion heard the complaint and was able to accommodate to the clients desire. Ultimately, obtaining another that is a more suitable item. This type of incident is actually a very rare occurrence. Universal Coin and Bullion take all concerns and complaints seriously. “As a company we want to assure the consumer that we are not only extremely willing but very capable of addressing and resolving concerns” states Mr. Fuljenz . Universal Coin and Bullion’s customer service department is well trained and can quite an individual to a resolution or go to any avenue that will strive to reach a satisfactory outcome. Furthermore, Mr. Fuljenz stated “We are a respected industry leader and obtained our great reputation by being honest, and holding customer service and satisfaction in the very highest regard.”

After an issue is resolved, the client was checked on. The client receives a follow up from the personal associate assigned to the account. Additionally, there is an account manager as well as customer service representative involved in the follow up interaction. The client was very pleased with not only the coin that was sent but the quick attention he was shown. He was provided the help to completely resolve the issues and has, since then, wen to on to do business with Universal Coin and Bullion.

Universal Coin and Bullion has “On five occasions been recognized as the best in the industry by the Numismatic Literary Guild.” The company also holds an A+rating with the better business bureau. Universal Coin and Bullion has been voted Best Gold Buyer and Seller in a survey done by the Beaumont Enterprise, a regional daily newspaper. On five occasions the Numismatic Literary Guild has recognized Universal Coin & Bullion’s dealer publications as the best in the industry. Universal Coin has also holds memberships in PCGS, NGC, ICTA, and NRA Business Alliance. Mr. Fuljenz stated “Locally, I currently participate on the Board of Beaumont Crime Stoppers. I have about 40 years’ experience in the coin industry and I serve on multiple industry boards. I have more than 50 national awards from the Numismatic Literary Guild, American Numismatic Association and Press Club of Southeast Texas for seminars, books, columns and media appearances on rare coins, precious metals and consumer protection issues.” Mr. Fuljenz wanted to relay the information that Universal Coin and Bullion has highly trained sales and sales protocol. The company’s’ interactions are always recorded to assure and guarantee that the customer is satisfied and receives a very positive experience. Each interaction is reviewed for any signs that the customer is not completely satisfied. As a company the want to be absolutely certain that no individual feels or perceives pressure. Our extensive training for our sales staff makes this a top priority. Customers can turn to their account representative or managers for continued information and guidance related to their purchases. Universal Coin & Bullion also prominently displays and advertises a separate Customer Service Department and Customer Service Hotline (877) 899-8380 for customers that need additional questions, concerns or complaints to be addressed.

Mr. Fuljenz says that as a result of the complaints, the Universal Coin and Bullion has strived to continue to be among the leaders in customer satisfaction. “We have joined the Corporate Advocacy Business Remediation and Customer Satisfaction Program to assure consumers that we will continue to make customer confidence and satisfaction our top priority” states Mr. Fuljenz.

Mr. Fuljenz and his team recognize the value of working with Ripoff Report and the Corporate Advocacy Business Remediation and Customer Satisfaction Program, and the platform it provides for businesses and clients to interact and resolve issues. He stated that he welcomes the opportunity to address and offer feedback and real solutions to any concerns that may occur.

Universal Coin & Bullion / Statements from the owner.

"I am Mike Fuljenz, the President of Universal Coin & Bullion. We formed Universal Coin & Bullion in 1994 and we have been Better Business Bureau accredited since 1995. We have an A+ rating with the BBB. I am personally involved in all of the leading industry organizations. I am a member of the Professional Numismatic Guild (PNG) and all members of the PNG are required to adhere to a very strict Code of Ethics. I also serve on the board of the Industry Council of Tangible Assets (ICTA) and the Numismatic Literary Guild (NLG) and am the only area contributor to the leading price guides. From 1982-1998, I was chosen to teach grading and counterfeit detection seminars for the American Numismatic Association. Customers can be assured their coins are being selected by a nationally recognized expert.

I have 40 years of experience in the coin industry and have been fortunate to be honored with more than 50 national industry awards from the NLG, American Numismatic Association (ANA) and Press Club of Southeast Texas for my books, seminars, columns and media appearances on rare coins, precious metals and consumer protection issues. In 2013, the Numismatic Literary Guild presented me with their top award, “The Clemy.” For the entire 20 years Universal Coin & Bullion has been in business, we have had an unwavering commitment to customer satisfaction. The Numismatic Crime Information Center had me teach continuing education classes to law enforcement personnel at state seminars in Texas and Florida and I am on the Board of the area Crime Stoppers.”



Universal Coin & Bullion – Who They Are & What They Do For Customers

"Since 1994 our company has been a leader in the bullion and rare coin market. We buy and sell bullion and rare coins to collectors, investors and other businesses. Our President and Numismatic expert, Mike Fuljenz, has approximately 40 years’ experience in the coin industry and serves on multiple industry boards.

Respect for our business is shown by our peers and customers and is demonstrated by numerous awards we have received and the numerous boards we have been asked to serve on locally, statewide and nationally. We are also registered to lawfully do business in our city and state which is not the case for many competitors. We are also asked routinely to contribute to industry guides and prominent media reports on our industry. Please go to MikeFuljenz.com or universalcoin.com for more information regarding our expertise and commitment to our customers and industry.

An example of our commitment to consumer protection is the requests for us to serve on boards of Crime Stoppers and State Bar of Texas Advertising Review Committee."



STATED IMPROVEMENTS FROM Universal Coin & Bullion.

"Our company is fully committed to provide our customer the highest quality of service both during the transaction process and after the transaction. When we are made aware of customer issues through our representatives or Customer Service Department, we attempt to address the concerns directly with the customer. Our goal is to resolve any reasonable customer issue. However, we cannot address an issue submitted by an anonymous person. If an actual customer has an issue, concern or complaint, we ask that they call our Customer Service Hotline at (877) 899-8380. A customer service representative will listen to your concerns, and will address the issue with the appropriate department.

Our company is constantly seeking to improve in all facets of our business with a focus on satisfying the needs of our customers. We have now posted our Customer Service Hotline in another prominent location on the homepage of our website and made more customer education videos accessible through the homepage of the website.

Our company is a consumer oriented business. Consequently, we occasionally have customer complaints regarding various issues such as delivery time, product returns, pricing and other issues. We always strive to address all customer issues expeditiously to the satisfaction of the customer. We have a customer service department whose toll free number is prominently displayed on invoices, brochures and the homepage of our website (recently added second bold and conspicuous reference on the homepage in the right hand margin). If a customer calls the customer service department, their issues will be addressed to the best of our ability. Additionally, all transactions are verified through a lengthy recorded verification script. The recordings are independently reviewed by a separate department to ensure the customer acknowledges they are suitable for the transaction, comfortable with the entire transaction process, and are agreeable to being called in the future.

We believe our customer service department and verification process provide a structure that addresses customer issues in a manner far superior to our industry competitors.

We are constantly working to improve customer satisfaction by verification of transactions by separate representatives; mandatory verification scripts to ensure customer satisfaction, review of verifications by a separate department and a proactive customer service department.

We take customer service very seriously and have many safeguards in place to ensure a pleasant transaction process. Your Corporate Advocacy Program will provide a vehicle to make the public aware of our commitment to customer service."

In summary, after our review, which included discussions with Mike Fuljenz, Ripoff Report is convinced that Universal Coin & Bullion is committed to quality delivery of services resulting in total client satisfaction.

Read more about why consumers should feel confident when doing business with a member of Rip-off Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Ripoff 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.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can insure that the member business did right by their customer.

NOW TO THE ORIGINAL REPORT THAT WAS FILED

--------------------------------

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

SPECIAL NOTE ABOUT THE ONE REPORT THAT WAS FILED ABOUT Universal Coin and Bullion – the author of the Report RETRACTED  their comments..

After this report was filed, Universal Coin & Bullion reached out to the customer, addressed all of his issues and resolved the complaint.  In fact, the customer sent the following email to Universal Coin & Bullion: 

               FROM:   William

               SENT:    Wednesday, December 28, 2008 7:05 AM

               TO:         Forest

               Subject: Retraction of Rip-Off Report 

Dear Forest; You have been very helpful since you contacted me after my filing of the Ripoff 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.  Please feel free to have any customers contact me for verification.  Sincerely, Bill           

 ALSO - -

Contrary to the later consumer comment posted by “Apple Pie”, the original author was not “compensated” by Universal Coin & Bullion to attempt a retraction.  The original author acknowledged he was not over-charged by Universal Coin & Bullion.  In fact, Mike Fuljenz, the President of Universal Coin & Bullion, has reported on this topic and received regional and national awards from the Numismatic Literary Guild and the Press Club of Southeast Texas for the reports.

NOW TO THE ORIGIONAL REPORT THAT WAS POSTED

________________________________________

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 07:05 AM and is a permanent record located here: http://www.ripoffreport.com/r/Universal-Coin-And-Bullion/Texas-77705/Universal-Coin-And-Bullion-Gold-and-Platinum-coin-sales-at-far-more-than-market-value-Univ-385887. 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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REBUTTALS & REPLIES:
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Updates & Rebuttals

#1 Consumer Comment

Rescind

AUTHOR: Apple Pie - ()

I rescind the claims made in Apple Pie's original comment on this page. 

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#2 Consumer Comment

Retractions Already Made on June 21

AUTHOR: Apple Pie - ()

*****[Note to Ripoff Report: PLEASE HELP ME! It is EXTREMELY important that you publish this post. All of its contentions are completely truthful, a fact which you can easily verify. Please immediately contact me at my email address if you have any concerns. I did NOT defame anyone, but I do not want to be the victim of a frivolous but financially catastrophic lawsuit. Thank you.]*****

On June 21, 2014, Apple Pie retracted all of his claims about Michael Fuljenz and Universal Coin and Bullion - via followup comments from the original author on his other reports about them. For proof, just search this website for those reports posted about Michael Fuljenz and Universal Coin and Bullion. The June 11, 2014 consumer comment posted by Apple Pie on this page was made before the June 21 retractions. 

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#3 Consumer Comment

Retract

AUTHOR: Apple Pie - ()

Apple Pie has already retracted all reports made by him on this website. 

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#4 UPDATE Employee

Apple Pie is Inaccurate Again

AUTHOR: Mike - ()

I am the President of Universal Coin & Bullion, Ltd. and am responding to the misleading, inaccurate and libelous comments posted by “Apple Pie” who has not identified himself as ever being our customer.

 The original author of the report “Apple Pie” refers to acknowledged he was “low balled” by area buyers, and was not over-charged by UCB.  Furthermore, the original author was not “compensated” by UCB to attempt a retraction of his posting on this site.  This is a topic I have reported on regionally and nationally that resulted in me receiving awards from the Numismatic Literary Guild and the Press Club of Southeast Texas.  Statements by “Apple Pie” contrary to that are erroneous, defamatory and libelous.

 We have a lengthy recorded transaction verification script.  The recordings are independently reviewed.  Statements that we make unauthorized credit card charges are libelous and not substantiated by recordings.  The verification asks the customer if he is suitable for the transaction, comfortable with the entire transaction process, and if they are agreeable to being called in the future.  It is defamatory to assert we target those who are not suitable mentally or comfortable with our entire transaction process.

 Our products are sold at competitive prices.  Check our website and online store at universalcoin.com.  Our mark-ups for various product categories are also disclosed on our website videos.  A coin’s value, like fine art, stamps or baseball cards, often has little to do with its’ “melt value.”  I am one of a relatively small number of experts who has been asked to contribute pricing to the leading price guides, including the Redbook and Insider’s Guide.  I have the expertise to know that our pricing is competitive, and certainly not at multiples of our cost.  It is defamatory to assert we overprice our products and that there is no true wholesale market for older or newer products.  In fact, major guide sheets and guidebooks show many coins described by “Apple Pie” at multiples of melt value, not melt value.

 Ed Reiter, Executive Director, Numismatic Literary Guild, said in 2014, “The fact that since 1986 Mike Fuljenz has won so many major awards in so many diverse categories, including the top NLG award ‘The Clemy,’ underscores how important his peers in the rare coins and precious metals markets view Mike’s excellent analysis and reporting.”  Any claims that Mike Fuljenz does not have peer respect, a good public reputation, and lies about sources of coins are defamatory and libelous. 

The lawsuits referred to in your June 2014 postings occurred (7) years ago, were dismissed, and nothing like that has happened in the past seven 7 years.  After the cases were dismissed, the opposing counsel even wrote letters to numerous media sources asking them to remove articles about the cases due to “many significant and important statements and allegations contained in the articles that were unfounded, inaccurate or erroneously made on behalf of their clients.”  We were the ones who got numerous judgments against our adversaries in these matters, not them.  The statements posted by “Apple Pie” in June 2014, including old lawsuit issues, were acknowledged by our opposition in writing years ago as incorrect.  We demand “Apple Pie” retract and remove his defamatory and libelous statements.

 I would gladly assist “Apple Pie” too, if he would contact me and identify himself so I could better research and understand his issues.

If the defamatory statements about UCB and Mike Fuljenz on this website and elsewhere by “Apple Pie” and any other names associated with “Apple Pie” are not retracted and removed by “Apple Pie”, et al, UCB will avail itself of all legal remedies permitted under Texas law.

  Mike Fuljenz

President, Universal Coin & Bullion, Ltd.

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#5 Consumer Comment

Retraction

AUTHOR: Apple Pie - ()

I retract my original consumer comment in its entirety. 

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#6 Consumer Comment

Michael Fuljenz's Rebuttal is Highly Debatable!

AUTHOR: Apple Pie - ()

Universal Coin and Bullion, its owner Michael Fuljenz, and their affiliated companies swindle customers via schemes involving the fraudulent representation of their overpriced bullion coins, according to several lawsuits filed. The plaintiffs state that Fuljenz and his firms high pressure elderly dementia and Alzheimer's patients into buying their vastly overvalued coins, use religion as a befriending tactic, lie about the sources of the coins and their true wholesale values, make unauthorized charges to customers' credit cards, and commit other abuses. Proprietor Michael Fuljenz hides behind his industry credentials to justify his corporations' questionable activities. I personally know several people who responded to Universal Coin and Bullion's "bargan" ads, only to be persistently called by their salesmen with offers of common bullion coins at double to triple or more their melt value, merely because they were certified by grading services. I am likewise acquanted with myriad industry heavy hitters who believe that there is no true wholesale market for almost all of the high-grade bullion coins peddled by Michael Fuljenz and his companies, which have done billions of dollars in business. Merely because the original author of this report was adequately compensated by Fuljenz and his company (only because he filed a report on this website) does NOT vindicate Michael Fuljenz and his companies of the charges made against him in court. For additional details, google the Houston Press article, "Texas Coin Companies Target Elderly Investors" - or search the plethora of other media coverage about the dozens of customers of Fuljenz who believe that they were defrauded by his firms.

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#7 UPDATE Employee

Resolution of Claim by Mr. Willions

AUTHOR: Mfuljenz - (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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