ComplaintsforVancouver Gold

• Initial Complaint

  05/01/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Resolved

  More info

  I follow the price of gold and silver very closely. On May 4th I intended to purchase 2 - 1 ounce gold coins AND 5 - 1 ounce silver non-DNA coins. I called ****** **** ****** at 2 PM to ensure they had the desired coins in stock and received the current costs. I withdrew enough cash and went to *** within 20 minutes. When I went there the clerk ****** immediately took my cash, ran it thru a bill counter and advised me that I had just enough for the 2 gold coins $5783 - no silver coins. I questioned this and reminded her that I'd just called in, got their price, but she said the price changes all the time from head office. I bought the 2 gold coins and left. Looking up the online price about an hour later I found the gold coin price was indeed much lower than her quoted "purchase price", around $2807 (or $5614) for 2 coins. I called back in and she said again the price changes, its out of her hands. I emailed ******************************** ***** suggesting she may simply have transposed numbers but received no email reply from ****** ****.The spread sheet shows the weekly cost of 1 oz DNA gold Maple coins from this seller for weeks surrounding the transaction. As you can see their price NEVER approached the $2891 per coin that I was overcharged. I seek a refund of $169 from the seller.Alternately they can send me 5 silver DNA Maple coins, address to be provided.

  

  Business response

  01/02/2024

  Hello, on May 4th due to banking concerns, the price of gold had hit almost all-time highs on the day you had purchased the gold coins. (there's an article about it at: **************************************************************************************************) 

  Gold price had settled at $2,014 USD per oz spot price at closing on May 3rd, and went all the way up to $2,072 USD on May 4th (the day you had purchased the coins). This is why you would have seen a higher price once you came in, as we always base our prices on the live price of gold. The spot price of gold changed by up to $80 CAD throughout that day. We unfortunately are not able to provide a refund for you, as the price was correct when you had purchased the 2 x gold coins. 

  Please let us know if you have any other questions at all.

  Thanks,

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

  CEO

  ****** ****

  Customer response

  06/02/2024

  
  Complaint: ********
  
  I am rejecting this response because:

  The link provided by ****** **** returned the following:

  We can't find that page
  The page may have moved, or the address may have been entered incorrectly.
  Try using the navigation to find stories of interest, or browse our latest stories.
  

  It would be helpful if ****** **** provided their hourly sales price breakdown of 1 oz gold DNA ****** for the date of purchase. It's challenging to believe the price ramped up $90 Can in the purchase window. As mentioned I checked the price and availability with ****** **** by phone and within less than an hour was in the store. After checking into my hotel an hour later the price had dropped again - seems dubious...

  
  Sincerely,
  
  *************************

  

  Business response

  06/02/2024

  Hello ****,

  Our apologies, the link wasn't working because of an extra parenthesis at the end of the link.

  The link is: **************************************************************************************************

  We do not keep record of hourly gold prices, since the price of gold changes so often. Your visit had been 9 months ago, so there's no way we would be able to confirm what the hourly price of gold was, nor would keep record of price changes from this period of time ago. Rest assured, our prices are based on the live price of gold, and the prices you had paid would have been based on the price of gold at the time (which changed drastically on the day of your visit). 

  Thanks,

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

  Customer response

  15/02/2024

  
  Complaint: ********
  
  I am rejecting this response:
  

  Its very convenient to state something then not provide verification. As mentioned:

  -the call to ****** **** was placed very shortly before arriving at the shop, a price was quoted and funds were taken from the bank for gold and silver

  -at the shop my money was COUNTED FIRST by the seller, then the seller told me the price

  -within 1 hour or so the price was verified on the companies own web site as substantially below the purchase price

  -it is unlikely that the price surged for the specific hour or so. I previously provided a chart of gold pricing showing relatively stable gold prices, certainly no big swing

  Per the new attachment from Vancouver Gold this is a pretty consistent purchase by a knowledgeable buyer. If the seller can produce ******** pricing for the date of purchase, thru an independent and verifiable source like *****, verifying the unusually high fluctuation the seller "claims" on day of purchase, then we may accept the sellers claim. Otherwise it is obvious that, with the cash counting occurring FIRST, the seller *********** the price to suit the cash on hand - I therefore seek the silver coins, per my original correspondence, as compensation from the seller and the issue may be closed. 

  Sincerely,
  
  *************************

  

  Business response

  15/02/2024

  Hi ****,
  

  Our prices always reflect the live price of gold, so while we maintain you had been charged the correct amount in the interest of closing this matter we will mail out a cheque for $169.

  Can you please provide the address to send this cheque to?

  Thanks,

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

  Customer response

  18/02/2024

  
  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, thank you. 
  

  Address is ************************************************************

  
  Sincerely,
  
  *************************

*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. ↩