The Pure Gold Company

Sneaky, dishonest company with hidden fees. Please do not invest here. I invested in some coins and storage with them. They gave me a poor rate to begin with with, but only notified me afterwards that apparently, I pay the rate at the moment of order, not the moment of purchase.

I thought I was paying 19GBP/oz, but by the time the purchase came round and only after they "received" the money, it was at 22GBP/oz due to their own delay and lack of clarity. It was also too late to cancel the order without paying a hefty penalty - a trick to get you to buy and stick with them.

About a year later, I asked what would happen if I sold back? The BUY BACK FEE they offered was 18.12GBP/oz; the spot price was $19.70 and at the rate of the day, it was basically SPOT PRICE. They explained that this was why:

"Our buy back price is based on a variety of factors such as demand, supply, and inventory requirements. We are seeing a lot of sellers at the moment (more than we have buyers) and this affects the buy back price we can offer."

Basically cheating you out of your investment. There was no "numismatic premium" as was marketed to me upon purchase. It was worrying.

So then I asked what would happen if I requested my coins to be delivered, again, they charged me BELOW SPOT and added an additional "tax," even though coins are regarded as legal tender and are not suppose to be taxed. They call this the "release fee." Coins had to be released into circulation first. The amount was outrageous, potentially erasing profit - almost 15% of my initial investment in total with fees. They don't tell you about any of this when you buy, but make it extremely unfavourable to sell back to them. Here is what they wrote to me:

"Thank you for your email. We can certainly release the silver to you. There will be a once off delivery cost (£20.00 per parcel) payable as well as the VAT applicable upon release. The current indicative VAT price is circa £215.00 and is based on today’s spot price, however the final amount will be calculated and provided upon receipt of the client sale instruction. "

The customer service is highly incompetent. However, after writing this review, I did receive a call from one of their seniors to let me know that the first employee that I dealt with is no longer with the company. They asked me to please modify this review and offered me some compensation in kind. I have elected to provide a more honest account, but I feel it is important for every investor and customer to be aware of that which I was not.

I hope anyone approaching them has a better experience, but in my personal opinion, it's not worth it for any serious, knowledgeable investor. Since my poor experience I've turned to Gold Avenue, they are so much better.

Very transparent service. As a first time buyer they openly and honestly walked me through all of the options available to me allowing me to make an informed choice on my long term investment goals. Will be speaking to them when I have more money to invest.

Nick gave exemplary service spending over and above the service I would hope to receive. He was knowledgeable and patient. I appreciated this as it helped me decide what I needed and to understand how the purchasing and selling works

Simple process and it was great to have a little direction as to how best to invest my money. James was a pleasure to interact with throughout. Will definitely be using again.

I would fully recommend this bullion dealer as it gives clear sensible advice and a company you can trust. Will definitely use again.

Avoid, avoid, avoid!
There are much better precious metal merchants around. Don't be persuaded with the review score or their consultative sales techniques.

They purposefully don't provide pricing on their website or anywhere else for that matter so they can push you to buying items that they have in stock, which may not necessarily be in line with your request.

Regarding their sales team, I wouldn't a word that comes out of their mouth regarding their current stock. Precious metals will mysteriously become available or unavailable depending on what they want to push to customers that week/month or depending on their sales target.

They will call you out of the blue with their go to line of "we have customer that is looking to liquidate a large volume of Silver and we can give you an incredible price you won't find anywhere else". A quick search on any of their competitors websites and you will find that they are actually more expensive by at least 5% or more, even with their "incredible discount". Be wary of their quote "we've secured you in at a great price". They most likely don't even have that stock at hand and will make you wait for weeks to secure the items at a price that suits them.

I've seen street vendors that value their customers more than these guys with their shady sales tactics.

Save yourself the headache and go to a reputable precious metal merchant. These guys are an absolute joke.

This was my first real big investment into ever climbing gold market, and i'm so satisfyed that I used The Pure Gold Company.

They held my hand throughout the investment process and confidenlty answered all my questions, nothing was problem.

I Came away feeling very well informed and comfortable in the experience.

Highly recommended!

First time using this company, very speedy and easy process! Highly recommend!