Report: #1035652

Complaint Review: NTR Metals

  • Submitted: Mon, March 18, 2013
  • Updated: Sat, May 18, 2013
  • Reported By: NTR SCAMS —
  • NTR Metals
    10720 Composite Drive? Dallas, Texas 75220
    United States of America

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*General Comment: not defending NTR, But

*Consumer Comment: ntr ripped me off bad over 8,000.00 loss claimed melt off

*General Comment: I think they're honest

*General Comment: Unhappy with NTR metals

*UPDATE EX-employee responds: You don't even know!

Show customers why they should trust your business over your competitors...

I am sure I speak for dozens of other when I say NTR Metals is a complete scam. They extremely professional and look great on the outside, but the real issue is ntr's extremely low integrity and dishonesty. I have always mailed my gold and silver to New York in the past and those shipping cost add up, so when I discovered NTR in my area I was thrilled! same day settlements, no refinery fee's, etc.. After the frist few transactions I was very happy. I received great payouts and fast service. Once the trust was built they quality refinery I once knew was gone. The worst part is I let my self get screwed for too long! Week after week I received 14k gold assays that were consistently 51.5% for 14K ! I know 14k really isn't plum pure any more, but 51% really!? That just ludicrous. Now I really didn't think much of this, I just thought "oh, well there must have been some 10K that got in there". [continued below]....
..... Or "Thats just the business and the risk." Which is what the NTR refinery manger said to me, So I accepted this and moved on. But week after week 51%,52%,54.5%,55.5%. 55% was my highest. And not to mention the melt off! ntr metals consistently has huge melt off. My average was 10-20 dwt of melt off. Now you might be thinking I had gems and diamond melee in there but NO I am a dealer and work on 3% margins so there is nothing but gold in my lots. I personally remove everything that isn't gold from my lots period. So this is my frustration that I have with NTR Metals. NTR Metals is taking money directly out of your pocket and in this day and age us gold dealers cant afford to be throwing out money to the billion dollar ntr metals establishment. I also have a theory that the assay machines are calibrated to be consistently low, and the ntr workers have no knowledge that they are ripping off the dealers. So in conclusion I would advise any dealer to never used ntr metals because they will scam you! NTR Metals is a scam, is a scam. Please take your business elsewhere. 
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This report was posted on Ripoff Report on 03/18/2013 07:41 AM and is a permanent record located here: 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. READ: Foreign websites steal our content

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#1 General Comment

not defending NTR, But

AUTHOR: Dive4gold - (USA)

i have over the years discovery that the 14k jewelry market is not up to standards, it may be stamped 14k but that don't mean it is 14k, 14k=58.3 something pure gold 

it is the same with Placer gold found in the rivers it is not pure gold

many of times i have found jewelry stamped 14k and even with a acid test was foiled

i am not willing to pay 20k for a gold XRF analazer

but when i go to the exchange and see my purity at or above 85% with my placer gold, with almost 10 to 15 Silver i am happy with NTR

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#2 Consumer Comment

ntr ripped me off bad over 8,000.00 loss claimed melt off

AUTHOR: scammed by buffalo and dallas ntr metals - (USA)

please who ever made this report contact the police with the video proof you have on this company and mike he   claimed 24.5 ounce melt off on 7500 grams of clean 1/10 12k gold filled items the company only offered 1,187 pay out on what should have ben 10,000 plus lot as there was 8k gold and 5k gold in the lot as well they claimed the gold content to be .6 percent after i sent a registered letter they claimed they re tested and and content still .6% after talking to mike and saying see you in court he claimed they re tested the dury bar and now the content is 1.6 and pay out would be 2,400 if i wanted i told him i still feel cheated he told me he is sending the dury bar back please please all former employees if you have proof on this company please go public call the police make copies of evidance and post it on the web i am a small company this may bankrupt me. 

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#3 General Comment

I think they're honest

AUTHOR: reallygs - ()

I included some gold by accident in a melt that was mainly silver, and though their policy is not to seperate metals, they did so without my request and paid in full. 

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#4 General Comment

Unhappy with NTR metals

AUTHOR: teresa1 - ()

Hi and thank you for your report regarding NTR Metals. I to have had difficulty with the assay ressults this company gives. In fact i have had to send drillings to the assay office to get a 2nd opinion recently. The drillings came out at a higher assay when tested by the London assay office than NTR gave me.

I actually took jewellery in to NTR once as i did not have time to melt it into a bar, well i came away that day with around a £700 loss as the assay NTR Metals gave was so low! I was fuming! and the staff stated i must have had something in the metal as there were high levels of copper. I have been dealing gold years and i test all gold brought into my company in front of the customers so how this conclusion was made i do not know. I felt really bad lost all my earnings that week as i work on low margins. I called the company and threatened to write to the USA  office regarding this situation. I was reenburst £200 to help my company break even. Another occasion i sent a bar up and the assay came out low. I told NTR Metals that i would  send the drillings i had taken from the bar to the assay office. The guy at NTR metals went away and then called me back that same day with a much higher reading on the Assay stating he had re melted the gold, in fact it was around in money terms £250 more than the previous assay. I have now told NTR Metals that i will never deal with their company again. I urge any dealer to be careful who they deal with and if in doubt send samples to the assay office, it may cost you £20 to get it done but it will soon give you the asnswers you need.

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#5 UPDATE EX-employee responds

You don't even know!

AUTHOR: Ken Jackson - ()

 Your right on target if you are suspicious of NTR Metals. Although, you may get the same thing with the next refiner you use. This industry has been neglected by government agencies which allows these billion-dollar companies to run amuck. Now I have to decide if exposing this company' practices with both video and audio would correct the problems or just make way for another company to do the same. I would surely be in court knowing this company and would also hurt a lot of innocent great employees I call friends. Try this: melt a coin with a known gold composition and send it in alone. See how close your refiner is and continue doing this randomly. (This is why we need a watchdog) And that's only one issue that is greatly affecting your business. You don't even know. Maybe a you tube video is in order. Incredibly, there's way more too. To Steve and John Loftus, any retaliation WILL result in an immediate and full audio and video release of all your dirty secrets. Try me.

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