On or about December 23, 2012 I answered an advertisement I found in a magazine called VIA put out by California Automobile Association (AAA) The Advertisement was placed by the Nationwide Coin and Bullion Reserve 2470 S. Dairy Ashford Suite 282. Houston, TX 77077. The Advertisement was for $50.00 Golden Eagle coins that contained 1oz of gold. I thought the price was reasonable at $1695.00 per coin.
I called the Nationwide Coin and Bullion Reserve and talked to a man named Tony Dematoe.
Tony told me he was an expert in gold investing and he would be my advisor. I told Tony I was not familiar with gold coin investing. I just wanted to buy gold, I was willing to pay $1,695.00 per once. I Told Tony that I wanted to purchase about $50,000 worth of these $50.00 Golden Eagle coins it was my understanding that each coin contained 1oz of gold.
Tony said that was true but I would be much better off with some coins that he just happened to have. They were 2003-$10.00 Commemorative Gold coin- First Flight Proof 70.
I told Tony I really didn’t know much about that I just wanted the $50.00 Golden Eagles 1 oz gold coins. Tony was very persistent telling me just how rare these coins were and what a lucky break for me to have called when I did so I could take advantage of this fantastic deal. He finally convinced me when I was told there was absolutely no risk as the Nationwide Coin and Bullion Reserve would certainly buy back anything that they sell at the price paid if I was not completely satisfied. That seemed fair so I went ahead and purchased the First Flight coins at $3,995.00 each. As Tony had advised, I received 12 of these coins and was charged $47,940.00.
In this purchase I also received 12 $5.00 American Eagle-Bullion-Any Date 1/10th oz. gold at $170.00 each and was charged $2,040.00 and 10 Silver American Bullion any Date which was on Gift Card 3121203.
Total charge and amount paid was $49,980.00
A day or two later Tony called and wanted to congratulate me on my purchase and told me the coins had already gone up in value by an amazing $10,000.00. He then told me of another great deal he would be willing to share with me. I told him I would think about it.
I found it hard to believe these coins could have gone up that much that fast. I asked my son to look up the value of these rare coins and find out what the going price is. He told me the price was around $1,300.00 dollars and they were not that rare.
I called Tony almost daily asking him to please exchange the coins for the $50.00 Golden Eagle 1oz bullion coins I originally asked for. Tony came up with one excuse after another. He did act like he would actually make the exchange, however, but there was always some complication.
Finally he gave some song and dance about how the owners of the company could not make the exchange. At that point I just asked for my money back. He said he would make arrangements with the owners and call me back.
After 3 or 4 days I finally called him back and his attitude had changed dramatically bottom line there not refunding anything.
I am writing you to see if you can possibly help me. At 94 years of age I must admit I am very embarrassed to have been taken so easily. I hope I can recover my money but I would like to also warn others so the same thing won’t happen to anyone else.
I would be very interested in knowing what steps I should take to expose these people and recover my saving.
Thank You for reading of this Complaint / Review. Complaint author: Curious1972