ED Magedson – Founder
Royal Silver Company Royal Silver Silver Club Membership scam Internet
I bought a silver club membership from the Royal Silver company in Bolvia in Aug of 2010. Under the agreement you are supposed to send them $5,000 and they are supposed to send you 1 oz of silver every month for 2 years as "interest" on your $5,000 investment and at the end of the term you are refunded your $5,000. Under the terms of the agreement you are allowed to cancel your membership at any time and have your $5,000 refunded to you.
After wiring my $5,000 to Royal Silver in Bolvia I received a paper certificate bond that stated my name and the terms of the agreement along with 3 oz's of silver (first 3 months of "interest"). The second 3 months again I received my interest coins. After that it they fell behind and behind again to where I was owed 10 months of interest at once. Meanwhile they provided no customer service or support. I decided to cancel my membership 4 months ago and I'm currently waiting for a 5,000 refund and 6 oz's of silver to be delivered to me. I have sent many many emails with little to no response only claiming that my refund is "being programmed".
So far I am out $5,000 and 6 oz's of silver. Do not do business with this company. They have no customer service and I am thinking I will not get anything that is owed to me.
This report was posted on Ripoff Report on 06/12/2013 12:43 PM and is a permanent record located here: http://www.ripoffreport.com/reports/royal-silver-company/internet/royal-silver-company-royal-silver-silver-club-membership-scam-internet-1058618. 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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