THIS BUSINESS IS NOT BBB ACCREDITED

Goldline International, Inc.

(800) 827-4653 1601 Cloverfield Blvd. 100 South Tower, Santa Monica, CA 90404

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Description

This company's business is offering investments in precious metals and coins and assisting metal and rare coin investors to acquire and preserve assets.

BBB Accreditation

This business is not BBB Accredited.

Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.

Why Accreditation Revoked
In November, 2011, this company's accreditation with the BBB was revoked by the BBB's Board of Directors due to recent regulatory proceedings filed by the Santa Monica City Attorney’s Office in connection withtheir sales and marketing practices. The company has appealed the revocation which will be considered by the Board on February 23, 2012.

Reason for Rating

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

BBB does not have sufficient information to issue a rating for this business.

Customer Complaints Summary

70 complaints closed with BBB in last 3 years | 31 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising / Sales Issues 37
Billing / Collection Issues 2
Problems with Product / Service 24
Delivery Issues 6
Guarantee / Warranty Issues 1
Total Closed Complaints 70

Additional Complaint Information

Our complaint history for this company shows the company gave proper consideration to complaints presented by the Bureau.

Complaint Details | Definitions | BBB Complaint Process | File a Complaint

  • Government Actions

    Agency: City Attorney Santa Monica
    Description: On November 1, 2011, the Santa Monica City Attorney filed a complaint against Goldline International and various officers and employees alleging that the company conspired to obtain money by false pretenses and false or misleading statements to customers. Among the allegations, the complaint alleges that the company sought to divert customers from bullion purchases to the purchases of higher markup coins. Among other allegations, the complaint also alleges that the company represented that the coins were safe from government confiscation, that the government could confiscate bullion but not coins; that the coins could be liquidated privately; that European coins are rare when they’re not, and that they offered bullion for sale on their website with no intention of selling it.

    The matter is pending and has not yet been litigated.

    Date of Action: 11/1/2011

    What government actions does BBB report on?

  • Advertising Review

    BBB has no information regarding advertising review at this time.

    What is BBB Advertising Review?

Additional Information

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35002328
BBB file opened: 8/1/1978 Business started: 1/1/1960
Contact Information
Brian Crumbaker - Executive Vice President
    Joe Ozaki (CFO/COO)Scott Carter (CEO)Lisa Weedman (Director of Business Affairs)
Number of Employees

453

Business Category

Gold, Silver, and Platinum Dealers

Alternate Business Names
Goldline International, Inc.The American AdvisorGoldLineDeak & Co.Deak International GoldlineGold Line International, Inc.
Alternate Web Sites
Industry Tips
Buying rare coins can be risky because of the absence of consumer protection standards. Coin investments carry no guarantee of a profit, do not pay interest or dividends, generally must be held onto for several years, and do not appreciate rapidly. You may need several years to recover from the 10%-20 % retail price markup that you paid when you purchased your investment coins.

Liquidity may also be an issue to consider. If necessary to liquidate your investment, how easy would it be to find a buyer? Before making a buying decision, have an independent source verify grading and pricing. Remember, grading is the opinion of the appraiser and involves some degree of subjectivity. Age and rarity may be decisive factors in determining values, but the ultimate value is determined by the price a collector is willing to pay. Do comparative shopping and research. If purchasing from a dealer or broker, find out if your contract has buy-back provisions in the event you need to liquidate. Ask about refund and exchange policies. Verify the authenticity of your delivered coins and get any representations or promises concerning projected resale values in writing.