Deceived by an Investment Company

[kpark1024]

My partner and I purchased $ 37,000 of "rare" gold coins from Goldline International Inc. in the past month. Goldline did not disclose the amount of commission they received from the transaction. They claimed the coins were extremely rare which was deceptive to my partner and I. We found out later the coins we purchased were marked up extremely higher than the market rate. They claimed it to be a "great investment" when in actuality we lost $10,000 at the point of transaction. We may break even in 3 plus years in our initial investment. Goldline International Inc. has also deceived another person we know.

 

[Michael Wechsler]

My partner and I purchased $ 37,000 of "rare" gold coins from Goldline International Inc. in the past month. Goldline did not disclose the amount of commission they received from the transaction. They claimed the coins were extremely rare which was deceptive to my partner and I. We found out later the coins we purchased were marked up extremely higher than the market rate. They claimed it to be a "great investment" when in actuality we lost $10,000 at the point of transaction. We may break even in 3 plus years in our initial investment. Goldline International Inc. has also deceived another person we know.

Unfortunately you should have done your research before you made such a large purchase. It sounds like Goldline puffed their product "well" even though it seems a little revolting on a human level. They can always say that they believe this represents a very good investment in the long term and that in 10 years these coins will net you a profit. It's a matter of opinion as to what a good investment means.

Second, why should Goldline be required to disclose their commissions received?

IMHO you have no case. When you make a deal, unless the other party guarantees a profit you aren't guaranteed that you're getting a "good deal." It's up to you to do your research. As they say, caveat emptor or "let the buyer beware" before making a purchase. Best of luck to you and hopefully you'll see a pot of gold at the end of this investment.

 

[kpark1024]

Thanks for your feedback. I hope I will break even sooner than 10 years. I feel sorry for senior citizens who invest in this company. They will probably die before breaking even.