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The Tulving Company, Inc.

  1,367 inquiries |
Coin Dealers and Supplies |   Business Alert

P.O. Box 6200
Newport Beach, CA 92658
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(800) 995-1708

Hours of operation 24 hours 7 days a week.

Company Rating

D

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Customer Reviews

based on 6 reviews.

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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 3/10/2014

Suspect wire fraud after placing order with Tulving

I have done business with this Company before, without incident. Placed and paid for my order on January 28, 2014. After several weeks, contacted Company for status of order, with response always check back next week. Starting last week, voicemails and emails have gone unanswered. Tried to recall my wire yesterday. Bank informed me account the funds were wired to has been froze.

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Complaints and Resolutions

Complaint Experience

N/A

Complaint Resolution Index (CRI)

BCA's Summary and Analysis:

Most complainants allege coins ordered in stock do not arrive as promised or advertised by the company and their website. Some complainants allege that when they contact the company regarding the delay they are told to expect further delays although payment has already been wired to the company. In other cases the company fails to honor their advertising of orders are shipped UPS Next Day Air for FREE.

The company responds to some complaints by sending out the coin order immediately with explanation of the delays due to holidays.

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Complaint Closing Statistics

0 complaints against The Tulving Company, 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

The Tulving Company sells and buys coins.

Primary Contact: Hannes Tulving Jr. (President/ Owner)
Business Started: 10/25/1990
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

Agency: Commodity Futures Trading Commission/CFT
Description:


On February 21, 2019 the Commodity Futures Trading Commission (CFTC) announced that Judge Robert J. Conrad Jr. of the U.S. District Court for the Western District of North Carolina entered a Supplemental Consent Order (Supplemental Order) against Hannes Tulving, Jr. and his company The Tulving Company, Inc., finding that they fraudulently solicited customers in connection with precious metals transactions, misappropriated customer funds, and concealed their fraud with false statements that the customer accounts were profitable.



The Supplemental Order, issued November 29, 2018, requires the Defendants to pay, jointly and severally, a civil monetary penalty of $15,761,432.  The Supplemental Order follows the Court’s January 5, 2016 Consent Order of Permanent Injunction (Consent Order), which imposed permanent trading and registration bans against the Defendants, and prohibited them from committing further violations of the Commodity Exchange Act and CFTC Regulations, as charged.



Details regarding the investigation and orders can be found on the US CFTC website here.



Date of Action: 2/21/2019

Comments and Analysis

Buying rare coins or bullion coins can be risky because of limited consumer protection standards. Before making a buying decision be cautious of unsolicited phone calls using high pressure tactics or offers made over the Internet through pop-up ads in newspaper advertisements and on radio and television ads.  Coin investments carry no guarantee of a profit do not pay interest or dividends generally must be held onto for several years and do not appreciate rapidly.

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~ Research the business by obtaining a reliability report on the company and also conducting an online search for reviews or complaints about the business. Also check with your state’s Attorney General or the Federal Trade Commission (“FTC”) for any enforcement actions or information they may have on the business.  Investigate how long they have been in business and ask for references that have made a purchase. Review the purchase agreement or contract prior to making deposits or paying any monies. Check the agreement for refund exchange and cancellation policies and that they offer buy-back provisions in the event you need to liquidate. Review the shipping terms to make sure they are compliant with FTC and Commodity Futures Trading Commission (“CFTC”) regulations.

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~ The FTC's Mail or Telephone Order Rule protects consumers who shop by mail telephone computer or fax. According to this regulation companies must ship your order when promised or within the time stated in its ads. If the company doesn't specify a shipping time it must send the merchandise within 30 days. The time begins as soon as the company receives your completed order whether they charge your account at that time or not.

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~ If there will be a delay the company must contact you immediately and give you the option to either agree to a new shipment date or cancel the order for a full refund. If the merchant cannot meet the revised shipment date they must again contact you to notify you of the delay and give the option of waiting or cancelling or cancel the order themselves and provide a prompt refund.

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~ If you decide to cancel your order and you paid by credit card the seller must credit the account within one billing cycle. If you paid by cash check or money order the merchant must mail your refund within seven business days.

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~ The CFTC’s Commodity Exchange Act requires actual delivery of commodities occur within 28 days.  The seller must physically deliver the entire quantity of the commodity purchased to the buyer or the possession of a depository that is not the seller’s parent company partners agents or other affiliates.

Other Considerations

This company has filed Chapter 11 bankruptcy. Under federal bakruptcy laws, Chapter 11 allows for reorganization. Generally, the company continues to operate normally while reorganizing. For information about filing a claim as a creditor, contact the clerk of the bankruptcy court.

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Additional Info

DBAs:

Tulving Company

Websites:
There are no additional web sites.

Contacts:

Karen
Dave
Braden Stiller

Addresses: