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Rust Rare Coin Inc

  545 inquiries |
Coin Dealers and Supplies |   Business Alert

252 East 300th S
Salt Lake City, UT 84111-2419
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(801) 363-4014

http://www.rustcoin.com

Company Rating

B

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Customer Reviews

based on 1 review.

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Complaint Experience

N/A

Complaint Resolution Index (CRI)

Membership Information

This business is not a member of Business Consumer Alliance. This fact does not disparage the company in any way.

Recent Review

Posted on 9/29/2019

This is not a company you can trust.

November5,2018, I was handed a check for my deceased uncle's coin collection from Rust Rare Coin in SLC. Weeks prior to that date, another beneficiary and I had sat down with Josh Rust for six hours as he appraised our uncle's large coin collection. As the executor of my uncle's trust, I asked Josh if I could pay to have the coins locked up in padlocked metal boxes, which I provided, and remain in the Rust Rare Coin vault until family members could have a chance to purchase any of the coins at the Rust Coin appraised value. Josh said he would be happy to meet with us on November 5, 2018. He also told me Rust Rare Coin would purchase the remainder of the coin collection not purchased by beneficiaries on that date. As the executor of my uncle's trust, knowing RRC would purchase any coins family did not buy on November 5, was a true blessing. Eight beneficiaries came and purchased some of our uncle's coins and Josh indicated he would give me a print out of the remaining coins Rust Rare Coin would buy. We sat down together,and went over the Rust Rare Coin purchase order and the total amount Rust Rare Coin owed my uncle's trust. I had carefully documented all beneficiary coin purchases. I asked if he could give me a cashier's check in the name of my uncle's trust. He said they could give me a check from Zion's Bank only. When Josh Rust handed me the check, he asked if I could wait until the following Monday to deposit it into my uncle's trust account. He indicated Rust Rare Coin was having their books audited, which he said was routine and the audit would be complete Monday. I took the check and on the following Monday took it took Zion's Bank. The teller asked if I would go into the Branch Managers office where he showed me on the computer screen that Rust Rare Coin had been part of a Ponzi Scam and all of their assets had been frozen. I was in shock! There was no question Josh had betrayed my trust!! Since that day, I hired an attorney and have also been working with the state appointed receivership. I would never recommend Rust Rare Coin. They are crooks!!

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Complaints and Resolutions

Complaint Experience

N/A

Complaint Resolution Index (CRI)

BCA's Summary and Analysis:

We have received no complaints against this company.

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Complaint Closing Statistics

0 complaints against Rust Rare Coin Inc closed in last 3 years.
Complaints Type of response
0 Making a full refund, as the consumer requested
0 Making a partial refund
0 Agreed to make an adjustment
0 Refusing to make an adjustment
0 Refuse to adjust, relying on terms of agreement
0 Unanswered

Other Information

Company Info

This company's business is a coin dealer.

Primary Contact: Alvin Rust (Owner)
Business Started: N/A
Social:

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Licensing

We know of no licensing or registration requirement for companies engaged in this company's stated type of business.

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Government Actions

BCA has no information regarding government actions at this time.

Comments and Analysis

We have no further comment about this company's business practices or analysis of its offer that may assist you in your consideration of this company.

Other Considerations

Our files show disconnected phone numbers, returned mail or both. The company appears to be out of business. We cannot trace addresses of companies or principals. General information is available upon request which may assist you.

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Industry Resources
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Additional Info

DBAs:

Rust Rare Coin

Websites:
There are no additional web sites.

Contacts:

Gaylen Rust (President)

Addresses: