BBB ACCREDITED BUSINESS SINCE 01/04/1994

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

A BBB Accredited business since 01/04/1994.

BBB has determined that this business 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's products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business's 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 this business's rating include:

6 serious complaint(s) filed against businessOverall complaint history with BBB

Factors that raised this business's rating include:

Length of time business has been operatingComplaint volume filed with BBB for business of this sizeResponse to complaint(s) filed against businessResolution of complaint(s) filed against businessBBB has sufficient background information on this business

Customer Complaints Summary Read complaint details

67 complaints closed with BBB in last 3 years | 16 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising / Sales Issues 36
Billing / Collection Issues 2
Problems with Product / Service 24
Delivery Issues 4
Guarantee / Warranty Issues 1
Total Closed Complaints 67

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 February 23, 2012, without admitting any wrongdoing, the company entered into a stipulated civil judgment and injunction with the Santa Monica City Attorney's Office to settle a misdemeanor complaint filed in November, 2011. The complaint was dismissed on February 16, 2012.

    The agreement and injunction requires that the company disclose its actual price markup in each transaction. It also prohibits them from telling prospects that the government may confiscate gold bullion and requires that the company enact other measures that will lessen the likelihood of any misrepresentation in their sales.

    The judgment also requires that Goldline offer refunds up to a maximum of $4,500,000 to customers who complained to authorities prior to the action, and pay $800,000 to a future claims fund. Anyone submitting a claim must also return any coins or bullion they’ve purchased. The settlement also requires that an outside law firm monitor compliance with the terms of the settlement. The injunction will remain in effect for five years. It can be terminated after three years under certain conditions.

    Former customers who wish to file a claim must do so by May 22, 2012 at the following website: www.gold.smconsumer.org.



    Date of Action: 2/16/2012

    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.