Complaint Review: Rosland Capital, LLC - Los Angeles California
Rosland Capital, LLC They lie and withhold information and will bait and switch Los Angeles California
Do not buy anything from this company. My experience with them is one filled with lies and deception. The coins they sell are very expensive and you will lose money. They will try to sell you their semi-numismatic coins which are way overpriced. They will not tell you that, when you sell back to them, they will pay you 28-30% less than the selling price of the coin. If you try to sell the coins to somebody else your loss will be 75% or more. They are the only place to sell back the coins you buy (that is something they don’t tell you either).
On March 23, 2020 I phoned them to ask the price they would charge for silver coin. I spoke to a rep named Tannis. At the time, the spot price for silver was $13.42. I knew that other coin companies charged a premium and would not sell for less than $18.51. Tannis told me Rosland would sell me silver rounds at the same as spot price so I placed a large order. When I got to the bank to do a wire transfer, I phoned her and asked for an invoice before I placed it. When I received the invoice, I noticed she had switched me to a product called the Lewis Kings Chessman 2.5-ounce coins. I was going to cancel the order, but she talked me out of doing that by repeatedly promising that the numismatic coins would increase in value more than regular 1-ounce round coins.
I kept changing my mind and wanting a refund before receiving shipment and she kept talking me out of doing that by saying they would increase faster than regular silver. I received the shipment and noticed the contract gave me 7 days to return them for what I paid for them less shipping. I called Tannis and she again talked me out of backing out. Then in June 2020 I decided to try to sell some of the coin back to them. I expected to see a gain in value but was surprised to see a loss. In July I sold my whole purchase back less 9 coins which I sold back in December.
My total loss was over $11,000. During that time frame the price of silver almost doubled. If I had invested in American Eagle coins or something else, I would have almost doubled my money instead of losing. I tried calling other dealers but nobody else wanted the coins.
All they would pay was melt value. The contract Rosland gave me mentioned something called “Spread”. I thought that was their profit on the coin since I was buying it at about $98 an ounce when spot was $13.42. Actually, the difference between the selling price at the time you sell back and what they give you is about 30% less and that is what they mean by “Spread.”. One other company whose name starts with an M, told me they would buy back American Eagle coins for about $1.50 each less than the selling price. They even post the buyback amount on their website so you can see it. There are a lot of shady dealers out there so be careful who you buy from. If you want to invest in silver, I recommend that you buy American Eagle coins or raw silver and not Rosland’s semi-numismatics. I don’t believe they are real numismatics either, since the only company that will buy them back is the one selling them. When I sold back Tannis told me I would get a check in about 2 weeks. Both times it took over 7 weeks. That was another lie. I think owning real silver is a good thing but be very careful what company you buy from. In my experience, Rosland is not a good one.
This report was posted on Ripoff Report on 02/23/2021 12:23 PM and is a permanent record located here: https://www.ripoffreport.com/report/rosland-capital-llc/los-angeles-california-lie-1505422. 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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