Public Mediation

My Claim vs. U.S. Money Reserve

M. H. vs. U.S. Money Reserve
PO Box 170339, Austin, Texas, 78717-0021, United States
    • Status: In Negotiation
      This claim has posted for public comment and negotiation. It will remain posted until resolved to the claimant's satisfaction. Suggest a resolution to help these parties reach a settlement.
      (seeking public comment)
    • Claimant Seeks: View.
    • Claim #: 2116776
    • Amount Involved: 7,738.00
    • Filed On: Sep 23, 2016
    • Posted On: Oct 04, 2016
    • Complaint(s):
      • Bad business practices
      • Problem with a product
      • Overcharge or billing error
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Statement of Claim
Claimant says:
"On January 22, 2015 I contacted U.S. Money Reserve in Austin, Tx regarding the purchase of some special coins at cost from a newspapper article. Upon contacting the company I said that I was also interested in gold bullion. The sales representative started talking to me about Gold American Eagle coins, including a set of 2012 1/10 oz, 1/4 oz.,1/2 oz. and 1oz Proof 69 Phillip Diehl gold coins for $6290.
In additionn he sold me 10 ea. 1/4 oz $5Gold America Eagle Bullion coins for $1340. When the above were shipped to me and I looked at the bill, I was astounded at the $7,738 dollar cost. I called the company and talked to the salesperson. I told him I wanted Bullion, not certified numismatic coins.He said you have bullion.
I have been seething every time I look at my bill for these coins. I happened to look up some gold sites and their cost for similar sets are $3,075 from the U.S. Mint (for a 2016 Gold Proof Set)
Incidentally, in January 12, 2012 this company was cited for scam of the week by the BBB for scam of the week in which they agreed to an Assurance of Voluntary Compliance with the Texas Attorney General in which consumers who purchased coins similar to mine were eligible for refunds."
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  • 09-23-2016 — Complaint
What Claimant Wants Hide
1. Refund: Refund of Purchase Dec 01, 2016 $7,738.00
2. Other – Pay for claim posting cost Dec 01, 2016 $7.99
Cash total : $7,745.99
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Respondent's Counteroffer

There has been no response to this claim from U.S. Money Reserve. This claim will remain posted until resolved
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  • Contributed Solution: by Steven Albright On 10-06-2016
    A return with a re-stocking fee might be appropriate More...
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