Swiss America Reviews: Complaints, Better Business Bureau, Trustlink
With the current economy in a state of uncertainty, smart investors are seeking alternative investments in non-paper based investments such as gold and other precious metals to ensure a secure retirement. Gold bars, coins, and other forms of precious metals are on the top of their investment lists as well and for good reason. Precious metals, more specifically gold, has been historically proven to retain it’s value during the ups and downs of rough times.
Swiss America is currently one of the leading companies in regards to selling and acquiring gold. They were started by one Craig R. Smith back in 1982 and is the epitome of American Capitalism – starting as a small business and eventually growing their customer base to over 45,000.
But don’t let the name fool you, Swiss America is located in Phoenix, Arizona and are well regarded for their experienced staff and for their high reputation. Is this the right precious metals company for all of your gold buying needs? Let’s further investigate through various Swiss America Reviews…
Swiss America Complaints Better Business Bureau
13 complaints closed with BBB in last 3 years | 1 closed in last 12 months
The Swiss America Trading Corp is currently accredited by the Better Business Bureau. Considered to be the premier and oldest consumer advocacy groups, the BBB is known for filtering the good and bad of various companies. As it stands, the BBB has rewarded Swiss America with an A+ rating – the highest of all grades with F being the lowest. This shows that they are held in high regards according to the BBB in congruence to the gold buying services industry.
Unfortunately, 13 complaints have been filed with the BBB against Swiss America in the past 3 years. Most of these complaints seem to stem around deceptive sales tactics and miscommunication. It must be noted however that the company has reached out to resolve all of the issues. They company has been accredited since May 28th, 2009.
Trustlink
Swiss America is currently not listed or registered with Trustlink.
Business Consumer Alliance
They are also not listed or ranked within the Business Consumer Alliance. This is odd since there have been several other gold IRA companies we’ve reviewed who although weren’t in good standings, were at least registered and listed with the BCA.
Scambook
Here’s a Swiss America Complaint from a senior citizen woman who ordered numismatic gold and silver coins at an approximate value of $12,000. Upon sending the initial wire of $11,913.00, she received her shipment and didn’t agree with the supposed value of the coins she received. After returning the purchase and asking for a full refund, she was only refunded $8,670 – a difference of $3,243. The company refused to issue a full refund.
** We also found a few mixed reviews on the yellow pages. One customer seemed to be highly satisfied while another client said that Swiss America sells gold at 6x’s the price of their competitors, and even took a hefty $30,000 commission.
Gold IRA Rollover
One of the primary services offered by Swiss America is what’s called a Gold IRA Rollover. This is where they roll over an existing 401k into a gold backed IRA (Individual Retirement Account).
Conclusion
Swiss America is a reputable company but not all of their reviews are positive. They have an excellent staff who prides themselves on quality customer service, however there is just not enough valuable information online that says this is the leading company in the industry. As mentioned earlier, there are even bad companies who are at least registered with some of the top consumer advocacy groups – Swiss America is not registered nor listed and the reviews are far and few in-between. The lack of information should make investors wary if nothing else.