ComplaintsforPriority Gold, LLC

• Initial Complaint

  08/23/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  My name is *************** i moved 50k over with Priority Gold. They did the whole get my money in quick teqnique on me and rolled my *** from fidelity in a few days by the time the money arrived a sales closer put my money in to high premiem assets silver charing me 56+ for ounces of silver overcharing me 30-50% when i found out days later they said it was too late i am writing this review to warn others that this over charges and my wife is very upset with be warned they do overcharge and i want my money back! I am in the start of legal process and in communications with the state attorney Gereral! Give me my money back

  

  Business response

  08/30/2024

  Dear ************, 

  We are happy to notify you that we have come to a solution with you and moving forward with a positive relationship. Thank you for bringing this to our attention. If you ever need anything moving forward. Please feel free to get in touch with us. We are grateful for you. 

  Customer response

  09/04/2024

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ***********************

• Initial Complaint

  06/05/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I am filing this complaint on behalf of myself and my Wife, ********************************.For Background, here is an excerpt from a letter provided to us by ******, our self-directed *** firm. On 04/26/2024, STRATA processed your instructions to send funds in the amount of $199,700.00 to Priority Gold, the dealer you chose to place your precious metals purchase with for your STRATA ***. It is possible that your outstanding precious metals may be due to a delay on the part of the dealer, their wholesaler, the mint, or the time it takes for the depository to book receipt of the precious metals.In any event, until the delivery is complete it will appear on your STRATA *** records, including quarterly account statements and online account access, as Pending Delivery. All precious metals should be delivered directly to the Depository account we have opened on behalf of your ***.Note: as of this morning, June 5th, 2024, the transaction has been listed as "Pending" in Strata and we have reached out again to Priority Gold by telephone to be told that ********************* is on the phone and will call us back. There has been no call back.We were promised a confirmation of the purchase of the gold and confirmation of its arrival at the gold storage facility within 30 days. We have reached out and spoke to ********************* in ************* by phone twice and have reached out via email 5 times, with no response. We are losing sleep over the fact that almost $200,000 of our money has been taken, with absolutely no acknowledgement from Priority Gold that they have received our money and the gold has been purchased Our request is simple, written statement to Strata and to us that our funds have been received, the Gold has been purchased, and that we own the gold.

  Customer response

  06/21/2024

  I filed a complaint against Priority Gold this past Sunday. The complaint has been resolved between Priority Gold and Myself, so please take that complaint down. Thanks for being a resource for the consumer.

  Sent from ***************************** (

  ********************

  )

   

• Initial Complaint

  05/02/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  In 2021, I purchased Gold American Eagle Proofs, Silver America the Beautiful Coins and Silver Bars from Priority Gold through my regular **** In 2023, I converted my regular *** to a *************** and it was at that point that I realized that I had been charged extremely high commissions, because the ****************** valued the conversion at the spot prices of gold and silver. I realized there was a huge difference between the spot prices and what I was charged. I expected to pay an amount above the spot prices to account for commissions and fees, but I was shocked to find they charged me an average of 103% over spot for the gold, and 84% over spot for the silver. So, of the $50,000 I trusted them with, I was charged $22,888. I began contacting reputable companies for perspective and realized I had been ripped off. I emailed Priority Gold numerous times starting in July 2023, but they didnt get back to me until October. They told me my original agent, *****************, was no longer with the company and that they werent getting my emails, even though I was sending the emails to a Priority Gold email address. I asked the manager, *******************************, for a breakdown of what they paid for the coins plus fees and commissions. He told me they didnt retain that information. I find this incredulous. Surely, they are required to keep permanent records. In the course of our discussions, ********************** accidentally sent me detailed correspondence and a voice recording related to another client! Im sure it wasnt intentional, but it sure was careless. Today, even with the increases in the value of gold and silver, my coins are only valued at about $30,000. I am almost 73 years old. There is no way Im ever going to recover my original value. I want my money back! For anyone reading this, do NOT deal with Priority Gold. Call around and find out ahead of time what you are going to be charged by any company you deal with.

  

  Business response

  05/24/2024

  Thank you for reaching out. This seems to be a matter of misunderstanding. The coins purchased by **************** are a premium product with limited supply. Their values are based upon more than just the spot price of Gold and Silver. We would like to clear up any confusion with the client and can even help liquidate his metals if he so wishes. Please feel free to reach out to our customer service line at ************.

  Customer response

  05/28/2024

   
  Complaint: 21651769
  
  I am rejecting this response because:

  When I first discovered that I had been greatly overcharged for these coins, I discussed the issue at length not only with Priority Gold but with a number of other respected dealers. I understand that there is a bit of a premium above the spot prices for gold and silver as well as a commission. However, Priority Gold far exceeded what is "reasonable". Their response to this complaint is ludicrous. They state that the coins are "a premium product with limited supply". That is ridiculous because:

  1) I bought coins that are widely available and not rare

  2) the coins I bought are not held as individual coins by Delaware Trust, but are held in groupings of coins of the same year. That is obviously not the case with "a premium product with limited supply" because such coins would be held separately and valued on their condition and rarity.

  3) The silver bars are obviously not limited in any way. 
  

  As I stated, I was charged and average of 103% over the spot price of gold for the gold coins, 15% over spot for the silver coins and 35% over spot for the silver bars. This came to a total of $22,887.55, which  is 45.8% of the $50,000 I invested. ************************************ Account Executive at **********************, previously offered to sell my metals, but would not tell me what I could expect to receive, but I'm pretty sure it wouldn't make much of a dent in the $22,887.55. I am to Priority Gold selling the coins or issuing a refund, but it must be substantial.

  Sincerely,
  
  ***************************

  

  Business response

  08/22/2024

  Dear ****************,
  We hope this message finds you well. We have been informed that you have reached a resolution with ********************** regarding the concerns you previously raised. We are committed to ensuring your satisfaction and would like to formally confirm that the resolutions provided have met your expectations.
  If there are any additional concerns or if further assistance is required, please do not hesitate to contact us. We value your feedback and are dedicated to providing the highest level of service.
  Thank you for your patience and cooperation in this matter.
  Sincerely,
  *********************
  Client Relations

  Customer response

  08/23/2024

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. The team at Priority Gold properly rectified my
  concerns. They communicated with me in good faith and I have gotten clarity on the true value of different Gold and Silver products. Mistakes happen and I appreciate them for working towards a solution with me.
  
  Sincerely,
  
  ***************************

• Initial Complaint

  03/15/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I transferred my traditional *** over to Priority Gold LLC to invest in precious metals in January 2022. After doing some research, it has come to my attention, that I was tremendously overcharged for the metals in my *** and I would like 100% refund of it. I invested $16,479.44. Two years later, precious metals have gone up in value and my account is only worth $8,791.00. So that alone, tells me that I was grossly overcharged for the metals that I purchased. I would highly discourage ANYONE from doing business with this company. If an agreement is not reached for 100% transfer to another company of the funds that I invested, I will be contacting the Florida Attorney General/SEC and the **** I have all my documentation if needed.

  

  Business response

  04/14/2024

  When we have received the compliant regarding **************** concerns. We contacted her immediately understanding her concerns.
  ************ and our management has come to agreement.
  
  As *** custodians report metal values on spot price of precious metals. Which unfortunately does not reflect a true market value.
  
  As we don't want upset clients, its also important to us to try to explain and educate how *** custodians report values vs how a true market value based on
  the metals ************ had purchased, We thank ************ allowing us to try to resolved her concerns of her purchase.
  
  We look forward to hear from ************ to finalized a resolution with her directly. 

• Initial Complaint

  11/13/2023

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I transferred my traditional *** over to Priority Gold, LLC to invest in precious metals in Dec 2021. I have been saving this *** for about 20 years now. After doing some research it has come to my attention that I was grossly overcharged for my metals in the *** and I would like a 100% refund of it. In my calculations upon reviewing and talking to other precious metals dealers, I have learned that this company charged me a 200% markup on the metals I purchased. I called the company to see if I could just liquidate my metals and transfer to another company. I invested $46,042.68 and they are now telling me it is only worth $30,000 so that tells me alone that I was grossly overcharged for the metals I purchased. I was also told I would get $2000 in silver just for transferring my *** which I never received. I would not recommend this company to anyone and I deeply regret choosing this company for my *** and my future. If an agreement is not reached on a 100% refund or a 100% transfer to another company of the funds I invested, I will be contacting the ********** Attorney General. Thank you.Date of transfer: 12/23/21 Account # ********* Invoice # ****** I have my receipt I can email to you, it would not let me upload it on here.

  

  Business response

  11/29/2023

  We appreciate you bringing your concerns to our attention, and we are sorry for any frustration, confusion or inconvenience you may have experienced. We are pleased to inform you that your issues have been addressed and resolved following your discussion with management.

  Customer response

  11/29/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *******************

• Initial Complaint

  07/28/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  We purchased from Priority Gold in 2019. They claimed we could the gold and silver back to them in the future for a small fee. We have called multiple times over the course of many days. They will not answer the phone at all. We do not believe anyone works at the company or that it exists anymore.

  

  Business response

  08/25/2023

  We are sorry to hear that Mr. ***** ******************* concerns. 
  Back in 2019 ****************** purchased metals from Priority Gold. ******************* is not a current client of ours, we dont have an account with her. 
  
  ****************** contacted our company in June of 2023 to sell his inventory to Priority Gold.
  The contact information we had for ****************** were old or not current when we try to reach out to ****************** back in June of 2023. ******************* called in July of 2023 we finally spoke with both Mr. ***** *******************, we promised that we would send prepaid labels and schedule a pickup for the inventory so we can start the process of ****************** can sell his metals which we sent via email directly to ******************. We try multiple times to contact Mr. ***** ******************* regarding the labels, we eventually got in with contact ****************** he did notify us that ******************* is in procession of the metals, he stated that we would need to contact ******************* organized the pickup with her directly due to ******************* will not speak with ****************** regarding this matter. 
  
  We have attempted to resolve the complaint with Mr. ***** *******************, We offer a resolution to send prepaid labels and pick up the inventory. We tried multiple times to work with Mr. ***** ******************* to resolve the complaint, unfortunately we have not been successful in getting in contact with Mr. ***** ******************* to discuss their complaint. 
  
  We always want all of our customers satisfied with their purchase, We hope that ****************** can contact us to further provide a resolution. 
  
  

  Customer response

  08/25/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ********* And ***********************

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩