ED Magedson – Founder
regency jewelers1540 altamont ave rotterdam , New York USA
regency jewelers Richard Poltorak ripped off son for silver he sold them rotterdam New York
My teenage son went to this jewelry store on 5 occassions and sold some 90% silver quarters that his grandmother had given to us. My son did not check with me about selling them. He is a minor and the store gave him $1300.00, The store did not call his parents or think they should. The lowest value for these quarters in the past year is $3.47 cents each he sold them 1428 of these again the lowest value for these quarters was 3.47 so $3.47 * 1428 = $4955.00 They totally ripped him off took advantage of a kid. Once I found out I went to the store and talked to coowner Richard Poltorak told him the situation ,He agreed to sell me back the quarters my son had sold in the last 10 days I paid $371.00 for 548 quarters. So that was what he paid my son. I called another jewelry store and asked them what will you give me for 548 silver quarters he did the math and said today $2020.00 a far cry from $371.00. My son also admitted selling 1 other bag to Jewels in Rotterdam mall. When I called them they couldn't have been nicer, the owner Matt offered to sell me back the coins for just what he gave my son, which was the fare market value. I went to Regency and talked to the other owner Richard Poltorak. He denied ripping my son off said he gave him a fair price .... My son before the 10 days did sell 2 more bags 880 quarters and recieved about $900.00 dollars He should have recieved. 880 x value $3.47 = $2776.00 and the value was accually much higher when he sold these 2 bags. I offered him a more than generous salution. I tod him subtract what he paid my son ($900.00). fom the fair value ($2776.00) = $1876.00 and take a profit for himself of $500.00 and pay me back $1376.00. The owner kept throwing numbers at me of what he gets for the silver and that it was only slightly higher then what he paid my son. Anyone who knows anything about silver, or math knows what the dis and you can give me numbers all day long and you can talk all you want about it but the fact that another jeweler was willing to pay $2020.00 for what he paid my son $371.00 says it all. I told him if he wasn't going to be reasonable I would call the attorney general and my lawyer. Why would any consumer trust this company with thier precious posessions.
This report was posted on Ripoff Report on 07/09/2013 12:34 PM and is a permanent record located here: http://www.ripoffreport.com/reports/regency-jewelers/rotterdam-new-york-12303/regency-jewelers-richard-poltorak-ripped-off-son-for-silver-he-sold-them-rotterdam-new-1065598. 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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