Silver Scam - Gaithersburg Coin Exchange

You would still owe Indiana 7% use tax for items brought in from another state.

http://www.in.gov/dor/3827.htm

 

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I ordered coins from Gaithersburg coins after wiring the money I received junk coins not the ones I ordered. Lost most of my investment.!!!

 

Welcome to the forum Ron.

I have never dealt with the company, but what coins did you order?

And just so you know, coins aren't the greatest thing to invest in. Most collect them for the fun of it

 

That's the point for some by investing in silver or gold bullion, it's not the coins they're after but the silver content in hopes that it only goes up in price from the price you paid for it. If you want pretty bullion coins, buy from the Mint or specifically find the coins you want and drop the money for them.

 

Was this recently? Either way, did you contact them to have the correct coins sent or return what you received for a refund? If you received other than what you ordered, legally, you were entitled to have it corrected or cancel the transaction.

 

When buying silver, I strongly encourage people to make the purchase in person & bring your own scale (along with reference books if the purity of the silver is uncertain). Buying from a bulk dealer seems like a great way to lose money & get back junk.

 

I have dealt with Gaithersburg Coin Exchange for years and have found them to be honest and fair. All of my transactions, and there have been many, have been dealt with in the proper manner.
I will say they do a lot of business and are very busy. Some of the sales require them to acquire the coins or whatever, which can take some time, but they have always done what I consider the right thing.
I will be dealing with them again very soon, as their prices are very competitive.
CSM

 

This thread has been going on for quite a while. I had generally good experiences with them a while back. But when you are buying and selling precious metals, sometimes it is better to deal in person with the company; sometimes it works to do mail order.

Apmex in my experience are top notch people. They were finally at a coin show I went to, the ANA in Philly and they did a deal with me with top dollar paid to me. I have also been impressed with how Provident offers top dollar. Gaithersburg is one of the old time operations and I doubt that they are going to be able to match the customer service, etc., of the new wave of top notch companies.

 

It took you guys at Gaithersburg Coin Exchange 4 years to find this thread and create a bogus user on CoinTalk just to try and make it sound like your company is worth doing business with....

 

There are many options in reporting suspected fraud. Contact the media source where you heard about the business. Bring proof to your state AG or consumers affairs dept.; bring the issue to the ANA mediation department, I have done this with modest success; if all else fails, hire a lawyer; I did this with a Coin World advertiser from PA named Trichon, he only ran two ads in the back, bilked me out of $3500, but at least we got a judgment against him that he cannot run away from unless he pays, interest still acrues...

 

Until he files for bankruptcy.

 

Careful with those accusations. This thread has had more than its share of one-post ponies, and only one has been defending GCE.

 

APMEX overcharges.

 

He lives on some kind of disability so judgments are hard to enforce. Even the courts reject bankruptcy in cases of tax evasion or school loans except for very dire circumstances. Knowing how the law works and using it is something I have come to an understanding of the hard way. Know your rights and employ them!

 

Well sir, if your buying THAT phony pony, than I got a beautiful bridge right over in Brooklyn NYC that you should buy as well to ride your new pony across

 

Its now Aug 2016, I am curious of the status of this issue USMCDAD. I am considering purchasing a similar amout of god or silver from my local dealer in Gaithersberg MD. I thought physically picking it up is wiser than trusting US mail etc.. Did you get resolution? Is Gaithersberg Coin Exchange unreliable? Thanks

 

As I am from Maryland and know the business in question I personally wouldn't do business with that company. Over the years have not heard anything positive about this company .

 

I'd only want to do business with them face to face from what I have read here but have had good results from Mark many years ago.

 

If YOU know what YOU'RE doing, and this would be an in-person deal, it shouldn't really matter what others have "heard" or even experienced in times past. Not all reviews are reliable, and far from all online stories/complaint are true, but they are one sided (hint, hint). Know what you're doing, give it a chance, and if you don't like how things are going or how you're treated, simply walk away.