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Business Profile

Precious Metal Dealers

Beverly Hills Precious Metals Exchange, Inc.

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Precious Metal Dealers.

Complaints

Customer Complaints Summary

  • 1 complaint in the last 3 years.
  • 0 complaints closed in the last 12 months.

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The complaint text that is displayed might not represent all complaints filed with BBB. 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.

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  • Initial Complaint

    Date:06/03/2024

    Type:Sales and Advertising Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I purchased gold and silver metals through this company. I was not given a fee statement, showing the breakdown of actual amount of my metals and actual amount of their fees. I have requested this three times with no answer. Their fees were not disclosed at any time, and it was after the purchase that what I received, and the current market value of that, seemed quite different from what I paid for. I don't know what their legal obligation is to disclose fees, but if I had been given those figures, I would not have purchased from them. It was not evident until my payment seemed to be misaligned with what I ended up with in terms of value. All I wanted was the fee statement. Now, I'm having to escalate. If they were reputable, why not furnish a fee statement for the charges of your services? Or the commission you make that you pass along in the form of a charge to the customer? Why the non-reply for request for information? That reduces their credibility greatly. If they have broken the law by non-disclosure of fees, then I would like that remedied.

    Business Response

    Date: 06/13/2024

    The client was given an invoice prior to making payment with exactly what was purchased and the cost per item and totals for each line item. That's all that is ever provided to clients when they purchase gold and silver from any company out there that sells precious metals. I called the client today and explained everything to her best that I could.  The client's issue here isn't really the product or the costs or the current value. There is a 3rd party that asked very specific questions about what the client purchased and premiums and commissions etc. the client was at a loss of what to tell this 3rd party. I think the client just needed to be heard and that's what I did on today's ca;;. My services are available to her anytime.

    Customer Answer

    Date: 06/14/2024

     
    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,

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

Beverly Hills Precious Metals Exchange, Inc. is NOT a BBB Accredited Business.

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