We appreciate the opportunity to respond the claims brought up by Ms. Conley and to be able to disclose some facts about her purchase.
We do not do cold calls in our company. We run adds on radio, tv and other digital platforms, just like everyone else. Ms. Conley contacted our company in July 2016 to receive information about purchasing precious metals, after either seeing one of our online ads or running a search about gold investments on Google. Per her request, we sent her the information. After doing her due diligence, she decided to add metals in her retirement account. According to her agent's notes, she was explained, in detail, the process of setting up a precious metals IRA and purchasing proof gold American Eagle coins with it. Our Shipping and Transaction Agreement also spells out the details of purchases, as well as added costs and their spreads in writing, which she had read and signed. Ms. Conley then verbally authorized the purchase of the specific coins, at specific prices, on a recorded line on 7/27/2016 and then we emailed her the order confirmation right after. We never heard any questions, or concerns about her purchase until recently, 3 years after.
All our IRA clients have a 24/7 access to their accounts. They also receive quarterly statements. Ms. Conley's 9/30/2016 statement showed the price that her proof gold coins based on the spot price of gold at that time. That’s how all custodians in the country value all precious metals on their statements, according to their current spot values. Because, there are many IRA permissible gold and other precious metals, that can be included in IRAs, each carrying different premiums. Therefore, her statement didn’t show the premium of these coins.
Ms. Conley knew, and agreed exactly what she was buying, how much she was paying beforehand, and had the opportunity to bring up any concerns since the very first day. Unfortunately gold, and especially its physical products' premiums lost value up until recently so then Ms. Conley wants us to re-do her purchase with different products 3 years after. Unfortunately, this cannot be accommodated in any kind of sales business. We certainly would love to see the premiums of physical gold and silver products to increase along with the continuation of the recent market increase, so that Ms. Conley can start realizing some gains.