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Rosland Capital LLC complaints

11766 Wilshire Blvd., Suite 1200
Los Angeles, CA 90025
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(888) 501-8947

http://www.roslandcapital.com

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Total Amount in Dispute:
$328,550.00

Total Amount Settled:
$175,000.00

Complaint Experience

100%

Complaint Resolution Index (CRI)

BCA's Summary and Analysis:

Our complaint history for this company shows the company gave proper consideration to complaints presented to them.

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Complaint Closing Statistics

10 complaints against Rosland Capital LLC closed in last 3 years.
Complaints Type of response
1 Making a full refund, as the consumer requested
0 Making a partial refund
3 Agreed to make an adjustment
1 Refusing to make an adjustment
5 Refuse to adjust, relying on terms of agreement
0 Unanswered

10 complaints against Rosland Capital LLC

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3/24/2021

RESPONSE: Refuse to adjust, relying on terms of agreement Amount in Dispute: $11,136.60 Amount Settled: $0.00

Customer Complaint

2/23/2021

Do not buy anything from this company. My experience with them is one filled with lies and deception. The coins they sell are very expensive and you will lose money. They will try to sell you their semi-numismatic coins which are way overpriced. They will not tell you that, when you sell back to them, they will pay you 28-30 less than the selling price of the coin. If you try to sell the coins to somebody else your loss will be 75 or more. They are the only place to sell back the coins you buy (that is something they don't tell you either). On March 23, 2020 I phoned them to ask the price they would charge for silver coin. I spoke to a rep named Tannis. At the time, the spot price for silver was $13.42. I knew that other coin companies charged a premium and would not sell for less than $18.51. Tannis told me Rosland would sell me silver rounds at the same as spot price so I placed a large order. When I got to the bank to do a wire transfer, I phoned her and asked for an invoice before I placed it. When I received the invoice, I noticed she had switched me to a product called the Lewis Kings Chessman 2.5-ounce coins. I was going to cancel the order, but she talked me out of doing that by repeatedly promising that the numismatic coins would increase in value more than regular 1-ounce round coins. I kept changing my mind and wanting a refund before receiving shipment and she kept talking me out of doing that by saying they would increase faster than regular silver. I received Resolution Sought Pay me back what I invested in the coin.

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Company Response

3/12/2021

Rosland rejects all of the complainant's allegations, and sees no basis for a refund for his purchase on 3/23/2020. In order for any Rosland customer to receive an invoice, it is Rosland's standard business procedure to make a recorded confirmation with the customer's consent. Rosland makes and retains recorded confirmations of every transaction in order to confirm the name and address of the account holder, and to disclose and explain, among other terms and conditions, a recommended hold period for precious metals of at least 3-5 years, fees, risk of market fluctuation, buyback policy, and detailed description and weight of product, to which the customer must clearly and audibly agree before the transaction can be finalized and an invoice can be created. Accordingly, there is a recorded confirmation covering these matters with respect to the transaction that the complainant mentions in which, the complainant clearly acknowledges: "Do you understand that coins and precious metals are a long-term purchase and should be held for at least 3 to 5 years and that Rosland is not an investment or financial advisor and has no fiduciary obligation to its Customers? (YES) Do you understand the decision to purchase or sell is subject to your own research and judgment? (YES) Do you understand that Exclusive Specialty coins [including British Museum ] are only sold by Rosland at prices set by Rosland based upon their quality, limited mintage, precious metal content and branded or unique source? (YES)Do you understand that it is Rosland's current policy to re-purchase from you any precious metals that you purchased from us, at the then current market value determined by us on the re-purchase date? Due to market conditions and other factors, you may receive less than what you originally paid. The current buyback price is below the price you are paying. Do you understand Rosland's buy-back policy? (YES) The bottom line is that it is not possible for anyone to purchase anything other than what they agree to purchase with their consent on a recorded confirmation. An invoice cannot be created or sent out without the customer's consent and acknowledgement of the agreed upon product and price. In two subsequent transactions 7/17/2020 and 7/21/2020, the complainant sold the coins purchased from Rosland on 3/23/2020 at a loss of $25 and $12 per coin respectively four months after he purchased the coins. Accordingly, there are two recorded confirmations in which the complainant acknowledges that the decision to purchase or sell is subject to his own research and judgement. It is a matter of fact that had the complainant held on to the coins for even one more month he could have sold the coins purchased from Rosland for more than he paid for them. The same coins currently have a buyback value greater than the complainant's purchase price. I should note that in a telephone call 2/8/2021, the complainant demanded $11,000.00 or he would write a bad review, then reduced his demand to $5,000.00. The complainant is now demanding a refund for his purchase made over a year ago, and 8 months after deciding to sell the coins purchased from Rosland in two separate transactions. Rosland sees no basis for any kind of refund, as the complainant's purchase and subsequent sales were done in the ordinary course of business, and Rosland has done nothing improper in connection with the complainant's purchase or subsequent sales.

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3/9/2021

RESPONSE: Refuse to adjust, relying on terms of agreement Amount in Dispute: $9,500.00 Amount Settled: $0.00

Customer Complaint

2/19/2021

I purchased one gold and other silver coins (silver Morgan and Peace dollars) from Rosland Capital nearly 10 years ago. They indicated it would take 3-5 years to even out their commission, which I agreed to. Years later I'm still ~$4,500 in the hole. Even with the price of gold and silver approaching what it was in 2011. In June I asked for a trade in of my coins they sold me, but and they won't even give me the NGC list price for them. Regarding the silver dollars, most are only worth $45 today, I had purchased them at $96 (Morgan) and $88 (Peace) (200 mark up) from RC. They convinced me with high pressure sales and untruths to make the purchase when silver and gold prices were up. I argued with them about it not being a good time to purchase precious metals, but they convinced me it was an excellent time to invest in coins. If I had kept the ~$10,000 in the bank at 4 interest, I'd have been $3,200 ahead; however, I'm in the hole at $5,200 (not counting the interest I could have made, had I left it in my retirement account). Back in June they said with the price of silver and gold low was the reason I took a loss, thus not their fault. It isn't so now (Ag & Au), but they refused to pay me what I should get-NGC price, which they indicated they'd pay (what the coins were worth on the market), i.e., what RC thinks I should be paid for them. A main reason I made the purchase (coins increase in price and I sell them back to RC at the current coin price). I had contacted Resolution Sought I want a refund. I'll mail the coins back at my expense and they are to give me back my ~$9940, and I will be okay.

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Company Response

3/8/2021

Rosland rejects all of the complainant's allegations, and sees no basis for any kind of refund relating to his purchase 10 years ago. As the complainant indicates, the spot price of silver and gold are approaching the spot prices seen in 2011. Anyone purchasing silver or gold coins from any company would need for the spot prices of the respective precious metals to increase significantly beyond the spot prices at the time of purchase in order to break even or profit. The complainant's allegations are simply not true, and in some cases, based on conjecture: "I argued with them about it not being a good time to purchase precious metals…" Rosland cannot and does not contact anyone that does not first contact Rosland and request information on purchasing gold and silver, nor can Rosland force anyone to purchase anything against their will. "If I had kept the $10,000 in the bank…" People contact Rosland to purchase gold and silver based on their own research and judgement. With the consent of the customer, Rosland makes and retains recorded confirmations of every transaction in order to confirm the name and address of the account holder, and to disclose and explain, among other terms and conditions, a recommended hold period for precious metals of at least 3-5 years, fees, risk of market fluctuation, buyback policy, and description of product, to which the customer must agree to and acknowledge before the transaction can be finalized. Accordingly, there is a recorded confirmation covering these matters with respect to the transaction that the complainant mentions. Rosland also asks that the customer read, sign and return Rosland's Customer Agreement, which provides comparable disclosures and explanations regarding fees, the risk of market fluctuation, and Rosland's buy-back and refund/return policies. In addition, Rosland sends to every customer an invoice of products purchased, also explaining fees, a recommended hold period of at least 3-5 years, and a risk of market fluctuation. With respect to his 3/9/2011 transaction, the complainant signed and returned the customer agreement and was sent the applicable invoice. The complainant refers to NGC prices as what he should be paid for his coins. NGC is an industry standard coin grading service that posts a guide as to what coins should be sold for. NGC does not buy back coins. There is always a "bid" price, that is what a dealer will pay for a coin, and an "ask" price, what a dealer will sell a coin for. NGC posts a guide for "ask" prices – that is, a guide for what dealers could sell coins for. Certain coins carry additional value or premiums over their value in precious metal content. These values or premiums can vary over time just as the values of the spot prices of the respective precious metals. 2011 was a very different market overall for coins and premiums with the prices of gold silver increasing for 11 years in a row. Since 2011, gold and silver have gradually declined along with premiums. Only recently, with global and current events such as the pandemic and US election, have the spot prices of gold, silver, and relating premiums on certain coins begun to increase, though nowhere near the levels of premiums seen in 2011. Rosland recommends that the complainant continue to follow up with Rosland in the future for accurate buyback values on the products purchased from Rosland, as Rosland has done nothing wrong, and the complainant's purchase was done in the ordinary course of business 10 years ago.

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Customer Rebuttal

3/9/2021

Fine.

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