1 reviews | Active since Jul 2017
No investment returns and now I have to pay to store the "asset" in their safe.
<p>After purchasing a medallion set at the Scoin Shop Rustenburg 5 years ago here is a quick summary of my experience:</p> <p> </p> <p>1. The coin was purchased and the shop had no problems taking my money, the medallion was then transferred to their secure facility for safe keeping. The assistants mentioned that this is an investment with a minimum term of about 5 years, which was fair, and that the shop buys back the medallions at a later stage, </p> <p> </p> <p>So far so good. </p> <p> </p> <p>2. A couple of years down the line, and the coin is still in their safe, but I am only receiving sales calls to expand my collection. When I enquired as t the value of the coins I seldom or never get an answer, with sales people dodging the question and referring me to H.O. </p> <p> </p> <p>3. Now I am in a position where I am stuck with an "asset" that the company does not want t buy back as was promised that I have no idea what the value is. To add injury to insult I must now pay to have my medallion kept in their safe. </p> <p> </p> <p>4. I have over the past two months tried to make contact with regards to a valuation of the coin and to collect my "asset" from their safe. The only response I received was to rather pay the storage fee as the medallion is of a high value. </p> <p> </p> <p>Sorry Scoin shop this is the final nail in your coffin for me, Please respond to my emails and provide me with a value of the coin as well as a date to collect the item. Upon collection please also have a buy back offer drafted for me. </p> <p> </p> <p>It amazes me that in this industry where FSB's are so closely monitored the FSB is not taking action against the Scoin shop. Working in alternative investments space is all fine and dandy, but when you are making false promises and not answering simple questions I am really getting worried. </p> <p> </p> <p>At least I am not alone in my struggles (Mandela medallion pun intended). </p> <p> </p> <p>http://carbonite.co.za/showthread.php?t=164901</p> <p> </p> <p>These are the email addresses that are non-responsive:</p> <p> </p> ********** **********