Goldline International
Reviews and Complaints

Um I wouldn't call Glenn Beck reputable...

ANOTHER UPDATE. I posted above as "Goldline Victim". I took my concerns to Goldline and they resolved them completely to my satisfaction. I feel happy and relieved.

I had posted a couple of days earlier but it didn't go thru.
I had posted the above post.

I have taken my issues to Goldline and they have resolved the issues to my complete satisfaction. I am very happy with how Goldline resolved my issues. Thank you.

I'm with CBS2 in Los Angeles. If you'd be willing to share your experience with us, could you call me at [protected]?

Thanks,
Nicolette
[protected]

" For me, having bought private gold coins "

There is no such thing as "private gold coins". Gold coins are gold coins. Unless they are numismatic coins, they are worth what the gold in them is worth. The "private gold" label is just a sales gimmick to get you to buy obscenely overpriced coins like French Roosters, instead of buying real bullion like American Eagles or Canadian Maples (at 3% - 4% markup).

Much like buying a used car, if your only source of information is a commercial or a salesman, you are guaranteed to get hosed.

If I were you, I'd tell my story to the FTC. While there is no law against charging your customers obscene prices, if they lied to you to get you to pay those prices that's a different kettle of fish.

" (Last month) I go to sell back to them and am told I can have 7.73 per coin. "

Is that more than other dealers were offering. The way they justify their HUGE spread is by buying back with 1% spread to market - but it's HUGELY front loaded - so yes, you will miss out on much profit. I want to know what you could have bought and sold $35, 000 worth of Silver Eagles for (not to make you feel bad, but to compare apples to apples.) For me, having bought private gold coins - I will need to have gold increase 50% in price, to make up the HUGE 35% front end. Even if you pay a relatively high 20% on the backend - they charge you almost twice as much on the front end. IMHO, it's certainly a racket.

My story is on this link:
Goldline International — Terrible experience

Are you going to go to arbitration - or are you thinking about suing them?

Best to you and yours - respectfully.

We need to sue other gold dealers, along with Goldline; such as Merit Financial;
Kevin DeMerritt, Lear Financial, and Rosland Financial; Marin Alexoff; read about their deceptive and illegal practices..go to /link removed/ and look at the complaints filed against them; and the lawsuit against Kevin DeMerritt a few years ago. Now that we don't have any US Representatives investigating these people anymore. Consumer Protection is now left up to us...I am too, a victim ; read my report on the above; I can be contacted at lloislane303@aol.com.
Also; contact the LADA and the Santa Monica DA; they have all the complaints and do nothing about it. I would be ashamed to allow businesses such as these continue operating in any city I live in.

Please contact the law firm of Craft Hughes Law, P.C. about your complaint with Goldline International, Inc. We are investigating a nationwide class action and would like to speak with you. Please call [protected] or e-mail me at craft@crafthugheslaw.com. Website is http://www.crafthugheslaw.com.

Thanks,
-Craft

Please let me add - Goldline sells you on two aspects - 'private' or numismatic gold (with the 'threat' of an Obama/FDR like confiscation of gold hanging out there.) So they steer you away from registered gold coins like the Krugerrand, Gold Eagle, and Maple Leaf, and into, in my case French Angels (.1876 troy weight gold) which are pre-1933 'private', gold. I was led down a primrose path to believe that the 35% premium they charged was part of the value of these 'private' gold coins, and that when gold rose, of course the value of the French angels would rise.

I've since learned that you could purchase the same coin I bought at $409 for about $253 to $270 give or take depending on the spot price of gold.

The second thing they sell you on, is their buy back promise, which is within 1% of the market price for the coins at the time they buy back from you. And they will buy them back. That's fine and dandy, but 35% front end loaded cost will minimize your gold holdings and set you in a hole to begin with - so the buyback is only after you've tossed 35% out the door. I'm still stunned. I've since called around and determined that you can pretty easily sell your French angels or what have you, and while there may be some discount for doing so, imho, that approach far outweighs the 35% front end load that Goldline charges, imho. Goldline also tries to scare you into thinking that when Gold goes way up ('like it did in the 1980s') that unscrupulous gold dealers will charge 10 to 20% back end premiums, or even up to 50%. I've determined that I'd have to suffer a 23% back end discount to make my 'investment' as horrid, as what Goldline just did to me.

Please do your homework, as I only did mine too late. I feel dumb, dumb, dumb, having relearned that lesson.

Wow. Do I feel like a sucker. I bought 25 French angels about 14 days ago. I bought because everyone has been advising to buy gold. I now see that bought at a stiff premium at Goldline - and feel so suckered that I didn't check that price before giving the approval. I too thought that those endorsers must have meant that this was a reputable, market driven firm, when really it appears they are solely a MARKETING/SCAM driven firm.

the same thing happened to me. I bought coins a year ago for 316 apiece. Even with gold going up 200 bucks since then my coins are STILL cheaper on other sites. I disappointed in Beck, Levin, and all of those guys for endorsing a place that rips people off.

This company is just a real scam. Lisa, you got my money and good for you. No use crying over spilled milk. Get a real job where you have to work like the rest of us you scammed. SHAME on you for being a part of a company that was investtgated for fraud. Yes, investigated for fraud. Punch in Goldline complaints and see the video ABC news posted on November 1, 2011. Goldline execs being investigated for FRAUD. You have to be as ashamed of yourself for getting involved with a company involved in criminal activity as I am.
I invested over $18, 000 into a gold IRA that was valued at a little over $8, 000 by Gold Star. Gold wanted to buy it back for $7, 500.00. Like they didn't swipe enough out of me. Lisa Weedman, Director of Client Relations, said I never called her concerning the devaluation of the account. I really did (always trying to cover her but) and she told me to leqve it in for at least 5-7 years, which I did. It is worth less than 1/2 of what I invested. Contacted the DA of California and she sent him a bunch of figures on meltdown values, basically saying what she sold me is a pile of junk. Please review that tape put out by ABC on November 1, 2011. It can't be scrubbed off the internet as bad comments can.. No one will help you if you get involved in a racket like this, so please do your homework before you buy gold. I do my buying from American Eagle Coins. No deceit involved with this company, they are straight forward.
When I reviewed all the complaints about Goldline I felt grateful I only invested what I did and not anymore of my investments. Some people lost a lot of money investing with this company.
Lisa seemed to know all about my transactions, but she never handled my purchases. Jim Gibbons, who flew the coop when the coop when things got hot lwas the agent in charge.. Goldline had to pay $4.5 million to customers who got scammed to avoid criminal charges. By the was, Lisa, the $800, 000 was agreed to be set aside for future claims, not unhappy customers. Get off my back and I will get off yours, Goldline. I am not in the habit of getting involved with a company that involves itself in criminal fraud.
There a lot of good gold companies out there, but this company is not one of them. Please review that tape from ABC News. They can't take it off th4e internet and really think about you are doing before you invest.
I don't want Goldline to EVER contact me again in anyway. If you read this, please know that I am informing people of your business practices so they don't get scammed. I am still reading reports coming in about you. GOLDLINE, YOUY STINK!

By reading some of the comments here, I am not sure that these upset investors of gold from Goldline International (or similar companies such as Merit) understand the nature of precious metal purchases as investments. When I read the complaints about Goldline and similar companies, the complaints are all very similar, and all seem to be from investors that just don't understand precious metal investments in general. Most of the complaints are about high "buyback" costs associated with recent purchases, and therefore they deem companies such as Goldline a "scam". However, if investors would read the disclosures, the buyback costs are high and are fully disclosed. Goldline is one of the companies that do offer to buy back the gold it sells, but they buy it back at their current cost on that given day. If you don't like the associated costs, sell your gold where you will get as close to a retail return as possible. Ebay is a great place to sell gold, and there are hundreds of other places that buy gold...sell it where you will get the best price. The people on this complaint board have not done their homework prior to investing, and do not understand that one should not buy gold, or any metal, if they will need to sell it again within a year or two...They do not understand that gold is a great "long term" investment, not short term. If you are buying gold, and you will need to redeem your money within the next few years, stay away...you will lose money. But if you are looking to hang on to your gold for the long haul, create a hedge against a volatile economy, diversify your investment portfolio with something tangible (gold and silver and other metals have continuously outperformed most other investments, including real estate), then the metals offered by Goldline are a great investment. The account executives at Goldline are well trained professionals who are knowledgeable about the products they sell. They deliver what they promise, and I will continue to do business with this company which is an industry leader. They didn't become one of the best in the industry by ripping people off. Do your homework, and if gold is the right investment for you, then Goldline is one of the best and most reputable companies to deal with.

There are good and bad companies out there. I don't know much about Goldline but I will keep your warning in mind when talking with friends. It seams when ever there is money involved there are always dirt bags out there that are willing to take advantage of people. Like I said I don't know anything about Goldline so I will not place judgement on them. Instead I will heed your warning and use caution if dealing with them.

I agree with Donald in regards to Regal Assets. I learned about Regal Assets after visiting a dot com site called irasgold that happens to be owned and operated by a married couple (or so they say) I don't have any reason not to believe them. I left a feedback on one of the articles on their site in an attempt to contact the couple. I am lucky I did because they are totally cool. They offered me a much better deal then if I had just called the 1-800 number or gone straight to the Regal Assets company.

I don't know of anyone or any other site that offers money back on your gold and silver purchase. The prices Regal Assets offers on precious metals is extremely competitive so I was shocked when they offered me an even better deal. Keep in mind they do not advertise this special deal it is shared only with those that contact them directly. You will not find anything on their site that talks about the discount. Leave a comment on their site and tell them Jackie sent you. Not sure it will help but its worth a try. Of course I had to wait a while for a check to show up in my mailbox but it was kinda cool to get paid money back for investing in precious metals.

Either way I feel Regal Assets is among one of few respectable companies you can work with and if you are not interested in the discount you could just go straight to the Regal Assets site. That is if Goldline hasn't scared you away from investing altogether. Just remember once you make direct contact with Regal Assets you can no longer qualify for the discount offered by irasgold (my buddy learned this the hard way) apparently the contact must start from the irasgold website. There might be others that offer this discount so take a look around if you want. I wasn't able to find one but it does not mean you won't have better luck then me . You could also try out Leer. I don't know anything about them but since Donald mentioned Leer and Regal Assets in the same breath, I would guess he must have put some time into researching the two companies. Good luck, be smart and invest wisely.

I bought gold from Goldline. My first two purchases, I made a profit on paper. I thought to buy gold because of the consistency of gold rise in prices over the years. Although, it was based on demand and supply, I decided to put some money into gold as a part of a try. I didn't completely understand it. I knew that gold was used in computers. Computers were being smashed for their gold. It's a precious metal. Limited amount. Growing need with population. My third purchase, I had a terrible experience. Perhaps, my profit on paper on the first two purchases caused that. I thought to put in $4, 000 this time into gold. Then, I found out about Goldline's price raise to make profit on the purchase which was a large percentage amount. When I saw that, I felt conflicted. I wanted to buy before I heard the price. it was probably 12%. That was greater than my expected rate of return from gold. My agent said "buy". "Hold it for two years". I felt pressured. I saved this money for this purchase. Now, it wasn't looking like a good purchase. Gold market price hasn't covered the difference yet. I made that purchase while feeling pressured. I look at that as a possible mistake. sometimes as a mistake perhaps. I hated being pressured and feeling pressured at that moment. I hate the idea that a person feels pressure to buy at a mistake to buy the product.

Please all, contact the Santa Monica DA's office. They would love to talk to you all.

I had a very similar experience with an "advisor" from Goldline International. Fortunately I did not purchase anything from them.

I filled out the on-line form requesting an investor kit. Soon after receiving the kit in the mail I got a phone call while at work. The woman from Goldline was using a scripted sales pitch which I recognized right away. I informed her that I would not be purchasing anything that day, but instead was gathering information in anticipation of making an informed decision in the near future. Her response caught me off guard... “What are you waiting for? The price of gold to go up?”

I asked her what products she had to offer. She said that the hottest gold product was the gold Panda coins which weighed “nearly 1/10th of an ounce” and were 99.99% pure gold bullion. The word “nearly” was clearly a red flag!

Keep in mind that the spot price for gold was around $970 at the time this conversation took place.

I asked what the price for these coins was and she told me they were $190 each. I informed her that would come out to $1900 for “nearly” 1 ounce of gold. Her response “Oh no, it isn’t!” She then told me that 10 coins would make an ounce. I corrected her by including the word “nearly” again. She told me that most customers purchase a roll of these gold Pandas. She said that there were 100 coins in a roll and the cost was $19, 000!

She continued with her sales pitch and basically ignored all of my concerns. I asked about storage fees and she could not answer because she “did not have her sheet in front of her.” Same story when I asked about shipping costs.

I told her that I felt Goldline was a scam and I was not going to do business with them for any reason. At this point she hung up on me without saying another word.

She called me about a week later obviously not remembering how the conversation had ended. When I reminded her she hung up on me again.

This organization is CRIMINAL! Honestly, I don’t understand why they are still in business.

I just found out I got ripped off by gold line, I setup account intended to purchase 1 oz maple leafs but the sales went his way to take me into the rare coins I did not fall for, but then he pushed me into the 1/10th oz to 1/2 oz coins where they have 35% markups, after research I found that I can easily purchase exact coins from other companies near the spot price! Gold line simply lie to it's customers for profit! Why are they still in business after reading all these complains?. Is there no justice in USA anymore?

I also had a horrible, nightmare experience with Goldline. I feel for everyone who has been treated poorly by this company. I invested in gold to gain more financial security and peace of mind. The truth is, what I got was financial LOSS, stress, confusion, anxiety, hype and in my opinion, a lot of BS.
The worst experience in my life.
I created a blog to tell my story and to help empower others to make better investment decisions. I hope it will add to a more honest investing world. Please visit. Let's all work together to out less than honest companies. www.mygoldlinedisaster.com

In 2007, I purchased from Goldline, two $20 gold pieces from the SS Republic Shipwreck. I was assured that these coins were rare and would go up in value at a rapid rate. My Goldline rep advised that I buy two for $35, 000 each (35 % was commission) and sell one when the price increased to a value to give me one of the coins at no cost. Boy, was I a sucker; I bit hook, line and sinker. In 2010, five years later, I found that Goldline was making a market in the SS Republic coins and that they were still selling the $20 gold pieces for $35, 000. I decided to take my beating. Goldline paid me the bid price, $22, 750 for each coin (the ask price less 35%) less one percent liquidation charge. I had to pay plus $80 postage and insurance to return the coins. Goldline didn't do anything illegal but they did represent that the coins were more valuable than the actual value and they represented that the market would bid the prices up because the coins were so rare. The only thing that was rare in this situation was a healthy quantity of common sense on my part. Chuck

Tulving, APMEX, and Gainesville have the lowest commission, and, although Tulving is gruff as hell and has a unique definition of "spot" (kitco offer price), the spread between buyback and sell price is minimal.

GoldLine is (up til now) legalized theivery on a monstrous scale. Blanchard's shills keep posting here, but they have a 16% premium on their product, unlike the 2% to 4% typical of the three aforementioned firms.