ED Magedson – Founder
Gold and Silver Buyers, Inc530 S. Mason , Katy, Texas USA
Gold and Silver Buyers, Inc - Crooks Lying, false advertisement, greedy, and ripoff. Don't deal with them. Katy Texas
Beware of Gold and Silver Buyers, Inc.. Scammers!!
I made the wrong decision to sell some of my jewelry due to the dire need for some cash. My husband and I talked about it later that day and realized that it has so much sentimental value to both of us specially to my husband.
We contacted the business (Gold and Silver Buyers, Inc) the very next day and asked them to give us our jewelry and to take their check back. We were shocked with the attitude and the willingness to lie and come up with all kind of excuses not to give us our jewelry back. They stated that it would be against the law to give the gold back and instructed us to contact the Office of Consumer Credit Commissioner (OCCC) the state agency that regulates this kind of business.
I called the OCCC and explained to them what was happening and they were shocked as to why the business would use such excuse. They clearly stated that there would be no problem for them to return the jewelry to its original owner. They even asked me to go back to their store and to call local police to be present before they give me my gold back. They wanted to make sure they have nothing to worry about and to give them peace of mind that this gold is not stolen.
I did exactly that and an officer from the Sheriff's department showed up but stated that they don’t enforce such regulations and they were happy to witness whatever was to take place. However the store manager refused to even talk to us and told the sheriff that we needed to leave the property.
I then filed an official complaint with the OCCC.
In the process of trying to get my jewelry back and because of the amount of resistance I encountered from this place, I decided to call around to other Gold buying stores and to get a quote on what I just sold. It turns out I got ripped off big time. They paid me $30.15 per gram when the market value at that moment was $43.49 per gram. So that explained why they were fighting so hard to keep it.
We didn’t really ask for a lot. Just give us our jewelry back and take your check. No harm of any kind to anyone. But these crooks refused and gave us hell. Although their website has a clear guarantee to offer the highest value for the gold and they’re confident to say that they guarantee 100% customer satisfaction.
These people took advantage of my innocent mistake, ripped me off with the price they offered for the gold, gave me false information about the state law, and most of all broke their own promise and guarantees as advertised on their official website. I am in the process of consulting with my attorney for possible lawsuit. I would avoid dealing with these people at any cost. They are nothing but greedy b**tards.
This report was posted on Ripoff Report on 05/09/2013 10:39 AM and is a permanent record located here: http://www.ripoffreport.com/reports/r/gold-and-silver-buyers-inc/katy-texas-77450/gold-and-silver-buyers-inc-crooks-lying-false-advertis-1049591. 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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