• Report: #702855

Complaint Review: Gold and Silver Buyers

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  • Submitted: Fri, March 04, 2011
  • Updated: Sun, December 02, 2012

  • Reported By: Brenda — Katy Texas United States of America
Gold and Silver Buyers
15875 FM 529 Houston, Texas United States of America

Gold and Silver Buyers Graymeiren Holdings, LLC Deceptive advertising; rips off gold/silver sellers Houston, Texas

*REBUTTAL Owner of company: Typical Response

*UPDATE Employee: interesting

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I had 113.7 grams (or 3.656 Troy oz) of silver to sell.  I contacted Gold and Silver Buyers and was told that they pay 80% of the current price for silver.

At current prices of around $35/oz,  my silver was worth approximately $130.  80% of $130 is $104, yet when I took the silver pieces to the store location, I was offered less than $50 for it.

They advertise that they pay more for gold and silver than any of their competitors and their advertising says "if you sell to anyone else, you're losing money."

I would have lost money had I gone ahead and sold my silver to them.  They rip people off big time. 

This report was posted on Ripoff Report on 03/04/2011 08:05 PM and is a permanent record located here: http://www.ripoffreport.com/r/Gold-and-Silver-Buyers/Houston-Texas-/Gold-and-Silver-Buyers-Graymeiren-Holdings-LLC-Deceptive-advertising-rips-off-goldsilv-702855. 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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REBUTTALS & REPLIES:
0Author 1Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Owner of company

Typical Response

AUTHOR: Anonymous - ()

 This response is typical of our employee's.  One reason I quit working here.  The apple doesn't fall to far from the tree.  The owner thinks this way too.  It's always someone elses fault.  Customer service is low on the list and ripping people off is high on the list. They will never pay you high they always go for low price.

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#2 UPDATE Employee

interesting

AUTHOR: blivisin - (United States of America)

That is your own fault for not telling the employee you were quoted 80% on the phone. Obviously if someone calls around price shopping you would quote the highest you are willing to pay to screw the competition. It's business. Get over yourself and your 3 and a half ounces of sterling. You are lucky you were offered as much as you were. There is not a lot of money in silver and refining costs on small amounts like yours eat up the small profits there are to be made on it anyway.
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