As gold scams pop up around the country and world we are providing you information in order to help you avoid becoming a victim of the scams. This time around it’s not the precious metal dealer that is scamming you. It’s the one rating the deceitful precious metal dealer.
Peter Schiff talked this month on his show on SchiffRadio.com about a suspicion he had about the Better Business Bureau (BBB) and their rating system. The gold scam of the year was undoubtedly the GoldLine fiasco, and with their trial taking place this month in Santa Monica, Peter decided to check and see what happened to their BBB rating. They were originally listed as an A+, now no rating existed at all. No F’s, not even a C! This wasn’t because they were disqualified all together from the site for their obvious fraudulent activity…the site’s reason for no rating was that there was “not enough information” to rate this company. HA!
Peter dug around to see what the BBB had to say about EuroPacific and was promptly met with a big F. This was due to one customer complaint, within one year, that had been filed; which was the ONLY customer complaint and/or rating that had been filed in total. So if GoldLine had a lawsuit on their hands, not to mention over 70 complaints in over 3 years on their BBB page, why wasn’t their enough information to rate their company? The obvious skepticism lead Peter to dig through numerous gold and silver companies that he knew were running scams, and wasn’t at all surprised by now to find that their ratings were not as poor as his.
His conclusion: BBB is taking payment for the rating listings, and GoldLine was keeping their rightfully smeared image under wraps.
Although we’ve listed in previous posts to double check a precious metal company’s ratings on various websites, we can now say that the Better Business Bureau lacks the integrity to provide accurate information for your buying experience. Have no fear, there are plenty of other ways to find out if the company you are working with is up to no good. Read Peter Schiff’s Gold Scam Report, and keep following our blog to stay up on the latest gold scams around the world.