Goldline Reviews and Complaints

On this page we will give an overview of Goldline International reviews, scam complaints, BBB, trustlink.com and Business Consumer Alliance ratings.

Goldline International has been providing a variety of precious metals and services since 1960. Today Goldline offers gold, silver, platinum coins and bars, numismatics, collectible coins, rare currency as well as gold IRA products.

Goldline International Inc
1601 Cloverfield Blvd. 100 South Tower
Santa Monica, CA 90404

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Goldline Reviews and Ratings as of 09/19/2014

Better Business Bureau: The previous rating on the BBB website for Goldline was an A+. Unfortunately, as of today’s writing, BBB posts this message: BBB is currently updating its files on all businesses in the Greater Los Angeles area and pending that review, a BBB rating is unavailable.

Trustlink.com: Goldline currently has a low 2 /5 star rating on theTrustlink website. This is based on 45 mostly negative reviews.

Business Consumer Alliance: Goldline has an F Rating on the BCA websitewith no reviews and 57 consumer complaints in the last three years. The bulk of complaints were for refunds and contract performance.

Legal Trouble: In 2010 Goldline was accused of fraudulent business practices in a civil lawsuit against the company and owner Bruce Sands filed by the Los Angeles County district attorney and the Santa Monica city attorney.

From Wikipedia: The State of California, in Feb. 2012 stipulated a judgement and injunction against Goldline International.  The company agreed to an injunction that forces it to change some of its sales practices and in particular allows a third-party to check that Goldline discloses all price markups to its telephone customers and adheres to the terms of the injunction.  Goldline also agreed to offer refunds totaling up to 4.5 million dollars to 43 former customers. As a part of the settlement all criminal charges associated with the investigations were dropped, and further civil action against Goldline was foregone.

Summary:

Goldline has over fifty years experience in the gold industry and state on their website that they committed to transparent, honest and responsible pricing with responsible corporate governance. From Goldline.com “We are committed to honest and transparent disclosures. Our Account Agreement and risk disclosure booklet, Coin Facts for Investors and Collectors to Consider, provide unparalleled information regarding our pricing, company policies and risks associated with acquiring precious metals. ”

Anyone contemplating doing business with  Goldline should keep the recent legal issues in mind. But it also appears that the firm has rededicated itself to transparency and disclosure of policies and practices.