Precious Metal Refinery Co. Located in Newport Beach is crooked as heck in my opinion!
On Sunday 7th of August I called and set up an appointment to sell silver hollowware,
Spoke to Richard twice making sure that he understood I had 12 ounces of .925 Sterling silver to sell. I set up the appointment and headed to Newport Beach with the hope that I had found a reputable business to establish a relationship with as opposed to shipping the silver to a Texas refiner. I was quoted $29.79 per Troy ounce which is the standard weight for traders.
I arrived and was nicely greeted by an old man wearing an oversized black cap which hid his face (Richard); he led me to a small office where he seated me away from the scale even though I wanted to sit next to the scale. He opened our bag and stated that ?nobody uses these anymore? and proceeded to weigh the silver. Good thing I had weight it ahead of time as he said it was almost 1 oz less than actual weight accounting for the difference in Troy oz vs. Regular ounces. When the error was pointed out he switched to grams and offered $22.00 per ounce as opposed to $29.79 he quoted on the phone, claiming he thought it was PURE SILVER (.999) which is extremely rare for hollowware and is for bullion for the most part.
I pointed out the fact that he had switched his offer and was low balling while high balling to get me in. I walked out and no deal was made.
I wonder how many people he confuses and takes advantage of!
DO NOT DO BUSINESS WITH THIS COMPANY!
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