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Northeast California

BBB Accredited Business since

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BBB Accreditation

A BBB Accredited Business since

BBB has determined that Folsom Gold Exchange meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 16 factors. Get the details about the factors considered.

Factors that lowered the rating for Folsom Gold Exchange include:

  • Length of time business has been operating

Factors that raised the rating for Folsom Gold Exchange include:

  • Complaint volume filed with BBB for business of this size.
  • Response to 1 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.
  • BBB has sufficient background information on this business.


Customer Complaints Summary Read complaint details

1 complaint closed with BBB in last 3 years | 1 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 0
Billing/Collection Issues 0
Delivery Issues 0
Guarantee/Warranty Issues 0
Problems with Product/Service 1
Total Closed Complaints 1

Customer Reviews Summary Read customer reviews

0 Customer Reviews on Folsom Gold Exchange
Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0

Additional Information

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BBB file opened: June 21, 2013 Business started: 07/09/2012 in CA Business started locally: 07/09/2012
Type of Entity

Sole Proprietorship

Business Management
Mr. Ardy Nikooe, Owner Mrs. Elie Nikooe, Owner
Contact Information
Principal: Mr. Ardy Nikooe, Owner
Business Category

Gold Buyers Silverware Diamond Buyers Coin Dealers, Supplies Gold, Silver & Platinum Dealers

Products & Services

Folsom Gold Exchange offers the following product(s): Diamonds, Gold Coins and Bullion, Silver Coin and Bullion, Special Orders and Custom Design Jewelry


Additional Locations

  • 900 E Bidwell St

    Folsom, CA 95630 (916) 817-2007

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Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

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BBB Complaint Process

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Complaint Detail(s)

10/7/2013 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: They are operating outside their license. Overcharged for loan. Kept the gold and charged for a new band. This establishment gave a pawn type loan instead of buying the gold as they are licensed. They also charged $250 interest for a period of 30 days. Then negligently melted the band of the ring, kept the gold, and charged for a replacement. They have violated their license restrictions and also violated California law in the terms of the loan. Also refused to release the ring without an apology from the customer.

Desired Settlement: The ring back as it was given. The balance will be paid for the interest charges allowed by law. We will not apologize to you nor will we pay for the ring melted negligently.

Business Response: Initial Business Response
Ms. *******, Please note Gold Exchange is not a pawnshop and does not provide loans. In this particular case, only as a nice gesture, Gold Exchange made an exception to our internal return policy and offered to provide the opportunity for the original seller to receive the items back after a 30 days period. The amount was mutually agreed to be slightly higher than the amount at the time of transaction. Rest assured not only Gold Exchange operates in full compliance with all our appropriate licenses and industry guidelines; we constantly strive to ensure full satisfaction of our customers. It has been our intention to provide the opportunity for the "original seller" to receive the items back. Should there still be an interest in receiving these items back, please contact me to discuss a mutually agreeable solution and arrangements. This matter has been greatly disheartening for us; and yet we are still hoping to obtain your satisfaction. Gold Exchange always has every intention to assist in good faith and more importantly, to act on a good deed. We strive to provide our services with highest levels of integrity offering greatest values to each and every one of our customers. Thank you, Gold Exchange **** ****** Owner

BBB's Final Determination: Business offered a resolution. Consumer did not pursue further with BBB and the matter was assumed to be resolved