• Report: #872389
Complaint Review:

Ripoff Report | United States Gold Bureau

  • Submitted: Mon, April 23, 2012
  • Updated: Fri, August 01, 2014

  • Reported By: Crooks — Chicago Illinois United States of America
United States Gold Bureau
Internet United States of America

U.S. Gold Bureau REVIEW: U.S. Gold Bureau dedicated to total customer satisfaction. U.S. Gold Bureau is leading choice for education & investments in precious metal bullion bars, coins, Investment Grade & numismatic coins, diamonds, & other alternative assets.
*UPDATE: United States Gold Bureau pledges their commitment to Ripoff Report Corporate Advocacy, Business Remediation and Customer Satisfaction Program. A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. The U.S. Gold Bureau recognized by Ripoff Report Verified™ as a safe business service.

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REVIEW UPDATE: December 16 2015: United States Gold Bureau remains committed to increased customer satisfaction and has improved their business practices over the years to better serve their customers. United States Gold Bureau is truly dedicated to making sure their customers are satisfied and that any complaints which do arise are addressed promptly and fairly.

To date, United States Gold Bureau has made good faith efforts to resolve all complaints reported on Ripoff Report. Based on our experience, the member business has proven to be among the top members of the Ripoff Report Corporate Advocacy Business Remediation and Customer Satisfaction Program as a Verified Safe Business™.

Over time and since becoming a member, United States Gold Bureau has remained actively engaged and improving the way they address customer service complaints. As an active and current member of the Ripoff Report Corporate Advocacy Business Remediation and Customer Satisfaction Program we are happy to report that now more than ever United States Gold Bureau remains committed to improving customer satisfaction.

Remember, no company or individual can ever satisfy 100% of the people 100% of the time. There are no products or services that will always be perfect for everyone and even the best companies will receive complaints from time to time. However, by participating in the Corporate Advocacy Program, the member business has made a commitment to working with its customers to resolve complaints quickly and fairly whenever possible.

Please keep in mind that as a consumer you have some responsibilities as well. Success has many definitions that based on your past experiences, current situation and your perceived expectations. Success with any product or service is always based on the proper application and understanding. The fastest car will not run if you never turn the engine on. Look at how you used the product or service that was provided in relation with the instructions that you received. The Corporate Advocacy Business Remediation and Customer Satisfaction Program will help you get your voice heard but please be prepared with documentation and fair representation of your concern, also have an idea of how the company can fix your concern. Can they offer additional services, extend warranties, offer a fair refund or just get you talking with someone that can help. ..let them know and let us know!

*Any consumer not receiving satisfaction from a member of the Corporate Advocacy Program should email us at editor@ripoffreport.com
 United States Gold Bureau is Ripoff Report Verified. [continued below]....


Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..

Ripoff Report Verified™ REVIEW:

EDITOR’S UPDATE: Positive rating and recognition has been given to U.S. Gold Bureau for its commitment to excellence in customer service and client satisfaction.

Ripoff Report’s discussions with the U.S. Gold Bureau have uncovered an ongoing commitment by the company to total client satisfaction and always working in the client’s best interest. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns. The U.S. Gold Bureau listens carefully to client concerns and sees them as an opportunity to perpetually improve and become more effective as a company in the services offered and the support for those services.

The United States Gold Bureau’s CEO, Mr. John Hutmacher, has informed us that the entire executive team and all staff members are trained and instructed to put the needs of clients first, as they are the company’s most precious resource. As an investor and family man, Mr. Hutmacher knows that when individual investors are searching for a precious metals company, they are truly searching for a company that can assist them with protecting the assets of their family. By always putting clients first, Mr. Hutmacher hopes that more and more individuals will find financial security and peace of mind through precious metals and alternative asset ownership.

The Chairman of the company, Mr. Matt Ferris, told us that he believes in setting strict compliance standards, which helps our clients and our business. He told us, “Insisting on operating according to sound business principles ensures we will be there for investors for decades to come, but applying a human perspective to each of our clients’ individual situation is what allows us to provide excellent customer service and earn repeat business from our clients.” Based on our research, a typical client has an experience similar to the one expressed in this quote: “U.S. Gold Bureau truly works to help protect the hard earned wealth of its clients, they communicate frequently, and they have a great ecommerce website that makes it easy to find what you’re looking for. Also, I know I can call at any time during the week and speak with a real person, which makes me feel good knowing that I can always get in touch with someone. They are serious about meeting commitments to their customers, and they deliver on all of their promises.”

United States Gold is Ripoff Report Verified
Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..

The information provided in this report is based on comments made by Matt Ferris during an on-site inspection held by a third party verification company with no biases toward the United States Gold Bureau.

The United States Gold Bureau sells precious metals in the form of bars, bullions, and coins. It also provides investment options and services to clients looking to enter the precious metals trade. United States Gold Bureau operates in the U.S., including Alaska and Hawaii, as well as doing a small amount of business in Canada and the UK. The United States Gold Bureau only sells metals from government mints or certified refineries and delivers the precious metals to customers via couriers such as FedEx and USPS. Additionally, United States Gold Bureau provides customers with storage options for their precious metals through a third-party storage service.

United States Gold Bureau is registered under the Department of Public Safety and Office of Consumer Credit Commissioner as an official Precious Metals Dealer in the State of Texas. It is also an authorized dealer for the Numismatic Guaranty Corporation (NGC) and the Professional Coin Grading Service (PCGA). Additionally, United States Gold Bureau is a member of the Industry Council for Tangible Assets (ICTA) and the American Numismatic Association (ANA). United States Gold Bureau’s company name is trademarked and all content on the United States Gold Bureau website is copyrighted. Additionally, some of the fraud prevention software built into the purchase system was created by United States Gold Bureau personnel.

According to Matt Ferris, a representative of the company, all leads are generated online. United States Gold Bureau doesn’t do “cold calling” of any kind. Potential clients will indicate interest by filling out a form asking to be contacted on the United States Gold Bureau’s website, will initiate a chat session on United States Gold Bureau’s website to participate in a chat with an employee regarding United States Gold Bureau’s products and services, or will call United States Gold Bureau directly. United States Gold Bureau will only contact someone if they have expressed an interest in and a desire to be contacted. After expressing interest in United States Gold Bureau’s products/services, either by calling the company or being called, United States Gold Bureau’s staff will explain the company’s products and services and answer any and all questions that the person may have.

United States Gold Bureau’s staff then asks potential customers a series of questions to determine their investment goals. According to Mr. Ferris, this is an important part of the process because some customers are trying to build an investment portfolio while others just want to buy a few gold coins for their children or grandchildren. United States Gold Bureau’s staff will then ask potential customers what types of precious metals they’re interested in purchasing or knowing more about. The staff will provide customers with information about the current selling price of precious metals and what the purchasing process with United States Gold Bureau entails.

U.S. Gold Bureau / Customer Care & Complaint Resolution

Occasionally, a shipment may go missing or the customer may receive a package that contains the incorrect item. In one case, a customer had ordered a specific type of American Buffalo coin. The wrong coin was sent to the customer, but the error was discovered before the customer had even received the coin. United States Gold Bureau’s staff contacted the customer and advised him of the error. They then sent the customer a return address, postage-paid label so he could return the incorrect product and United States Gold Bureau immediately sent the customer a replacement shipment containing the correct coin. The customer was completely satisfied with the resolution, according to Mr. Ferris. Mr. Ferris also noted that this is extremely uncommon for United States Gold Bureau to experience these types of issues. He stated that approximately 1/10 of 1% of all shipments per year have issues or problems.

After an issue is resolved, United States Gold Bureau has a “ticketing system” in place that ensures the customer is contacted after the issue is resolved to ensure they are satisfied with the resolution. Additionally, Mr. Ferris says that United States Gold Bureau contacts all of its current clients once a quarter to follow up to determine if they have any questions and if they are still satisfied with their product. Mr. Ferris notes that the purpose of these quarterly calls is not to sell any products, but rather to touch base with clients to ensure that they’re still satisfied with their coins or bars and have no issues or questions. Mr. Ferris said that the feedback he has received from his staff is that their customers appreciate the attention and follow-up. If a customer does not wish to be contacted by United States Gold Bureau, Mr. Ferris says that the company honors this request and takes them off their call list.

Mr. Ferris wanted to relay the information that every United States Gold Bureau employee is rigorously trained to deal with customer issues as soon as they arrive. He said that the staff has been directed to either resolve a customer issue if it within their power to do so or escalate the issue immediately to someone who can resolve the issue.

Mr. Ferris says that as a result of the complaints, the United States Gold Bureau has implemented several changes to help increase the quality of its customers’ experience. The Terms and Conditions have been updated to be more favorable to customers. The inspection period was increased to five days upon the customer’s receipt of the item. This increase enables the customer to have more time to inspect or have the product inspected to ensure they are satisfied with their purchase. United States Gold Bureau has also increased their clarification and communication practices and all staff are trained to inform customers about the items they sell as well as the purchase process. Additionally, United States Gold Bureau has created a recorded disclaimer that communicates that the coin market is subject to substantial fluctuations, including significant and rapid increases and decreases in value from time to time. Investors must be able to assume the risk of such price fluctuations. This audio disclaimer is attached to all pieces of electronic communication (including emails) that the United States Gold Bureau disseminates. Furthermore, a written disclaimer that lists all risk factors and investment considerations involved in the purchasing and selling of precious metals is available on their website. All incoming and outgoing phone conversations to and from the United States Gold Bureau are recorded in the event that a dispute may occur, accurate information about the situation can be relayed to all parties.

Mr. Ferris and his team recognize the value of working with Ripoff Report and the Corporate Advocacy Business Remediation and Customer Satisfaction Program, and the platform it provides for businesses and clients to interact and resolve issues. He stated that it means a great deal to him and his company to be a part of this program because it provides an advocate for their customers, which increases their comfort level. He says that being a part of this program can provide United States Gold Bureau’s customers with confidence that there is a third party who can step in if the need arises to help resolve issues.

The US Gold Bureau was first established in 2003 as a privately-owned company by Ray Busby. In 2008, it became a business corporation after the company underwent a change in ownership when it was acquired by its current owners.

U.S. Gold Bureau / Why Invest in Precious Metals?

Maximize Your Return

Financial advisors recommend that investors allocate 5% to 20% of their portfolio into precious metals to secure their assets and protect their money from rising inflation and a difficult world economy. Your exact percentage will vary, depending on your individual situation and investment goals.

Asset Class Diversification

Stocks and Precious Metals are two different asset classes. Each class has its own advantages and disadvantages, but a diversified portfolio makes you less dependent on a single asset class for overall performance. When stocks and precious metals are combined into a single portfolio, a "non-correlated" asset is created. The "non-correlated" relationships of these two classes are ideal partners! When gold is rising stocks are generally falling in value, and vice versa.

U.S. Gold Bureau / Testimonials

"My advisor has been way more helpful and informative than anyone else in this industry I've talked to.” ~ Kenneth G., Oklahoma City, OK

“Always a pleasure to make my investment with your company. Very friendly agents." ~ Shawna R., Miami, FL

“I really appreciate the cost aspect. You're cheaper than my local guy.” ~ Luis R., San Diego, CA

“I plan to continue buying from the U.S. Gold Bureau. Thanks mostly to the person I bought from.” ~ James B., Austin, TX

U.S. Gold Bureau / Retirement Services

"Planning for a secure retirement is one of the most important decisions investors will ever make, right up there with buying a home and saving for your children's education.

Do it right and you can rest easy, knowing that your nest egg will be waiting for you when you decide to hang up the boots and enjoy an exciting new phase of your life. Do it wrong and you may be disappointed to discover that your Golden Years aren't what you always hoped they would be.

Our Retirement Services Division helps investors understand the big picture for retirement planning and learn how precious metals can play a key role. Our Retirement Specialists will guide you through the entire process of incorporating precious metals into your portfolio, recommending options that are best suited for your individual goals, and helping to avoid unnecessary fees and penalties along the way."

U.S. Gold Bureau / Statement from the Customer Service Manager.

"I feel very confident leading my team and doing my job. I love working here because the owners really and truly do care about the clients that come to the firm seeking assistance with investing in alternative assets. As the Customer Service Manager, I am personally responsible for making sure every client has a fantastic experience with our company. Even when we make a mistake, which happens once in a while when you’re processing thousands and thousands of transactions per month, we always take the time to correct our error and make sure the client is satisfied.” ~ Amber Glenn, Customer Service Manager

The U.S. Gold Bureau takes employee satisfaction seriously as well. Employee feedback and surveys reveal comments such as this: "The United States Gold Bureau provides a very positive environment to work. Opportunities for suggestions and improvements are encouraged. Management is truly concerned about our contribution to the company and providing future opportunities for us. Plus, the owners actually lead weekly and monthly meetings on wealth building techniques with the employees. They take the time to listen and communicate with employees and clients." Rip-off Report was pleased to learn that the U.S. Gold Bureau’s past and current approach to business is focused on its commitment to client and employee satisfaction.


The U.S. Gold Bureau recognizes that complaints posted on Rip-off Report (whether true or not) are always issues that need to be addressed, not ignored. If handled correctly, complaints can become valuable learning opportunities. With the feedback generated by Rip-off Report’s Investigation, the U.S. Gold Bureau has taken specific steps to improve customer service and client satisfaction. One of these changes is to make every employee, no matter what their position, empowered to assist clients with customer service issues. Additionally, the executive team at the U.S. Gold Bureau has made it easier for staff members to escalate customer service issues to upper management, ensuring that resolutions are reached as rapidly as possible.

In summary, after our investigation, which included discussions with company executives, Rip-off Report is convinced that the U.S. Gold Bureau is committed to total client satisfaction and focused on providing an exceptional experience for its clients.

Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program, a program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. this program works.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Programthey agree to allow Ripoff Report to contact every client who filed a complaint so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses so we can ensure that the member business did right by their customer.


United States Gold Bureau Sells high and buys back below what they sell it to you for even if it has increased in it's value, SCAM, Internet

At the end of 2010 I purchased a 1989 set of gold coins from United States Gold Bureau for $6,900.  I received many call from them trying to sell me more sets.  1 week ago I received one of these calls and asked what my set was worth.  I was told it is worth $9,300 and it was a good investment. 

I called them on April 23 regarding selling my set and they informed me that their "buyback" price was $6,600.  When I told them what I had been told by one of their salemen about the value of my set in todays market being $9,300 he told me that this was correct and that I needed to hold on to the set for at least 3 years to get maximum return.  I then confronted him on why they pay $6,600 when it is worth $9,300 and he did not have any answer other thatn this is their buyback policy and they are "for-profit".

THESE ARE SCAMMERS.  They are reprehensible and should be taken to court on their business practices and lies.

This report was posted on Ripoff Report on 04/23/2012 08:45 AM and is a permanent record located here: http://www.ripoffreport.com/reports/united-states-gold-bureau/internet/united-states-gold-bureau-sells-high-and-buys-back-below-what-they-sell-it-to-you-for-eve-872389. 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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Updates & Rebuttals

#1 UPDATE Employee

Settling confusion regarding this customer's purchase

AUTHOR: Golden Service - (United States of America)

We personally spoke with the individual that filed this complaint in an attempt to better understand why he felt that he had been misled. I have worked for this company for years, and they are not in the business of trying to mislead anybody. And, after speaking with this consumer, we believe that he better understands the relationship between the buy-sell spread on the product that he owns.

First of all, it may not be clear that the product the customer is referring to is a very rare specimen of a 1989 four coin set. In fact, at the time that this is being written, there are only 262 of them known to exist of that exact same type from the exact same grading agency. As such, this demands a much higher spread than if the customer had purchased, for example, a raw 1989 gold bullion coin - of which there were more than 807,000 produced that year.

Second, the consumer has only owned this particular product for about 1.5 years; when it was purchased it was clearly explained that in normal market conditions, you must plan to retain the product for three to five years in order to allow for average appreciation to cover the spread difference. The product is difficult to acquire, costly to carry, and in high demand with low supply - all of these characteristics add up to a wider spread than products that are in significant abundance, such as bullion coins.

Fortunately for this customer, our knowledgeable staff sold him one of the most rare four coin sets in that series. The customer may not have made the decision to purchase that particular coin set had he not received the recommendation from our firm.

Finally, the consumer in this situation is already "in the money" depending upon the method he chooses to liquidate his investment. Based on the conversation we had with the client today, we learned that we did not have the opportunity to explain to him all of the various options for liquidating his investment at the time of the first call.  Unfortunately, this caused some confusion and frustration, which lead to the filing of his complaint on this site.

Obviously, we would not have been in the business that we are in for as long as we have if we were attempting to mislead our valued customers.  Were sorry that a misunderstanding led to this customers position regarding the matter, and we believe that he now better understands the relationship between the spreads on the product that he owns.  

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#2 Consumer Comment

I don't get it.

AUTHOR: Flynrider - (USA)

  Your complaint seems to be that they will not buy your coins back for $9,300.   Are they obligated to buy your coins back?  Does that obligation stipulate at what price?   What's stopping you from selling them to some other buyer?  

Since you apparently have Internet access, it should be easy to find out what your coins are worth on the open market.    You seem to be relying on the seller to advise you on pricing (for buying and selling).   That's not a wise investment strategy. 
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