Gaithersburg Coin Exchange -- Terrible Service

My advice to anyone buying or selling in hard assets or certified coins is check around. Apmex has built an excellent reputation, has tight spreads on most coins, has probably grown by leaps and bounds for good reason. But if they don't maintain vigilant watch over their ethics, customer service, and competitiveness, others could out-compete them. The coin business is very competitive and sometimes cruel, it goes back thousands of years to when the laws were a lot looser than they are today.

Some customers are dealing only in cash because they are concerned about reporting requirements--I have communicated with revenue agents who could not be less concerned about taxing the bullion and coin dealers, this will undoubtably change as public sentiment wakes up to the huge profits being made in this industry and demands that government even the playing field.

It would take Gaithersburg less than a month to get their act together--all it takes folks is the will to hire professionals who will bring them up to speed on customer service-oriented improvements. They do large volume, I do not envy them in the least. It may be hard for a business to trust a new CFO, compliance officer, or other expert in areas that they need. IMO they need to identify exactly who or what is the obstacle to their making quality improvements and replace that manager with a better one.

 

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I would , as previously suggested , contact the MD Attorney General's office. File your dispute ! Whether or not Bob is a good guy or not , the way this situation is being handled is at best totally un-professional . I would also notify the ANA if he is a member , and contact the local chapter ANA rep. Hope you get this resolved to your satisfaction.

 

I think that they the same folks, that the US Mint had to make them stop using US Mint copyrighted info in the Coin ads.

 

It would seem that your experience(s) would HAVE to be the Norm, otherwise they certainly would be out of business by now. I empathize with vwrap, what a horrible experience for Both vwrap AND GCE. vrwp for his time and trouble (hope these were NOT Christmas Gifts) and GCE, how many customers did they lose? Wow!
Steve

 

Dishonest Company

I purchased from GCE one 1 oz Platinum Eagle per year over about a five-year period. Each time I paid by check and had to wait over a month for delivery. Their representative was unfriendly on the phone each time I ordered. When the price of Pt rose significently, I decided to sell them. Their representative told me that they would not buy the coins back. When I protested that I had purchased the coins from them and they advertise that they buy as well as sell, I was told to call back later to talk to someone whose name I do not remember, but I think it was the owner. When I called back and and talked to the designated person, he told me that he had looked in my file and I was dishonest and had given them bad checks in the past. I began to protest that his statement was totally untrue, and he hung up on me. I sold the coins to a California dealer for a good price in a smooth transaction. I received immediate payment when they received the coins.

The other negative posts on this dealer are in line with what I have experienced. I would recommend that buyers of precious metals avoid GCE and take their business elsewhere. There are a lot of professional and ethical dealers out there who treat their customers fairly and and with respect.

 

Gce

I'm sorry to hear that you were treated so badly. APMEX posts their prices online, both buying and selling, though their "buys" are based on minimum quantities. Their spreads are much bigger on non-numismatic coins. I don't know what the problem is, I try to make allowances for everyone, especially coin businesses that may not be making a lot at a given time, or had a tax or government enforcement problem where they had to hire lawyers or personal or medical problems. Eventually, the facts will come out. If you are an unhappy customer, move on to a recommended business. You can always leave negative feedback online, there are plenty of place to do that.

 

....................one word......................" crooks"

 

Suggestion to the moderators -

Check the IPs of the new posters complaining about GCE. I wouldn't be surprised if they all come from the same source - someone with a vendetta against the dealer busting their gut to make trouble.

 

... not to mention that one post would have been enough. They don't have to spam every single topic that ever mentioned the company...

 

Yeah, I think you are. You've posted the same exact text in multiple topics on the board when one would have been enough. Cross-posting is counter productive and irritating. Not to mention against the forum rules: