In a local newspaper this week, an advertisement ran promoting the opportunity to claim a vault bag full of rare coins for only $99. The ad claims consumers responding to the ad need only confirm residence in selected area counties by calling a toll free number, (866) 340-4756. Within three days, the ad reports, the caller will receive a vault bag. Better Business Bureau warns that past experience with the company has shown that response likely does not guarantee what was promised.
The company making the offer is World Reserve Monetary Exchange, Inc. (WRME), aka Universal Syndications, Inc., located in Canton, Ohio. The address used by WRME is also the address used by a different company (Senior Mobile) reported on by BBB in February after running an ad offering free phones that were anything but. Senior Mobile and Universal Syndications, Inc. both have an F rating with BBB. The factors that have lowered the company’s rating to Better Business Bureau's lowest rating are:
- 12 serious complaints filed against business
- Advertising issue(s) found by BBB
- Business has failed to resolve underlying cause(s) of a pattern of complaints
In total, the company has had 249 complaints closed with BBB in the last three years, 69 of which were closed in the last 12 months. Exactly 140 closed complaints regarded advertising or sales issues and 59 closed complaints were filed under "Problems with Product/Service," making up the two highest complaint areas for unhappy consumers.
On Nov. 2, 2012, BBB sent correspondence to Universal Syndications concerning the advertising of “scarce coins.” The company responded 12 days later, and showed it had made a couple different changes to its advertisements. However, BBB files indicate this business still has a pattern of complaints concerning the number of rare/scarce coins contained in the bag since changes have been made. Consumers indicate the majority of coins contained in the bag are newer coins and pennies. As of May 2013, BBB continued to see a pattern of complaints of misrepresentation concerning the number of rare/scarce coins received by consumers and has not resolved the underlying reason(s) for the complaints.
Your BBB advises reading every advertisement in its entirety in order to get a full and complete understanding of what’s being offered. In addition, avoid feeling rushed to purchase due to company deadlines; any deal worth its salt will still be available once you've given it enough thought. Finally, your BBB recommends you request detailed information prior to making a purchase to help you make the most educated buying decision possible.
If you or someone you know has had problems with this or a similar company, email us at email@example.com or call 509-455-4200.
ABOUT BBB: For more than 100 years, Better Business Bureau has been helping people find businesses, brands and charities they can trust. In 2013, people turned to BBB more than 132 million times for BBB Business Reviews on more than 4.5 million businesses and Charity Reports on 11,000 charities, all available for free at bbb.org. BBB Serving E. Washington, N. Idaho & Montana, founded in 1912, is one of 112 local, independent BBBs across North America.