Liberty Metals Group is a precious metals dealer that sells online. They formerly had a storefront, but the location appears to be closed. Unfortunately, the company has run into multiple legal issues and problems with past customers.
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About Liberty Metals Group
Liberty Metals Group is a precious metals dealer operating out of California. In addition to selling coins and bullion, they are also willing to purchase precious metals. They will buy bullion, jewelry, and scrap metal. When their store was active, they would test the metals in-store.
The company's inventory includes coins and bars in silver, gold, palladium, and platinum. However, not all of their items seem to be available all the time. In fact, many customers say that their orders were never fulfilled, possibly because they purchased items that were out of stock.
There is no minimum amount required to invest with the company. They also say that they have a buyback program, but customers have reported having trouble getting in contact to honor it. It's very rare for company representatives to answer the phone or email, especially when the issue is related to past orders or buyback offers.
There are some IRA services available, but the store does not appear to specialize in this.
Is Liberty Metals Group a Scam?
Liberty Metals Group is not a scam, but there are some serious issues. The company has a legitimate storefront and provides the services it claims to. However, there are quite a few poor reviews and complaints on Yelp. In addition, the Better Business Bureau has not rated or accredited the business, saying that they don't have enough information to do so.
Some customers have left positive Yelp reviews. But the company has an average of 2.5 stars on the website, indicating mostly negative reviews. The biggest issues are related to legal action. Some customers say that they have needed to take legal action against the company and have been awarded a judgment in court.
But before looking at more details there, let's examine the positives.
One positive review says that the storefront is beautiful and clean. The customer said that he was given a fair price when selling. In addition, he was happy with the metal testing, as well as happy that the company accepted jewelry sales.
Another positive review came from someone who said it was their first experience ever buying precious metals. They said they were given fair pricing and an honest assessment.
One positive review from 2011 said that the customer had heard radio commercials about the company for several years. When he went into the shop with questions, he was extremely impressed by the knowledge of the staff. They answered all of his queries and helped him feel confident in his purchase. He was also happy with the final product that he received.
Unfortunately, there are a huge number of negative reviews, enough that they far outnumber the positive ones. There are also a few average reviews from people who weren't entirely unhappy with the service, but who had one or two issues.
There have never been any complaints filed with the BBB. But there are numerous complaints and poor reviews on Yelp. These negative reviews seem to span the entire life of the business, ranging in date from 2011 to 2017. Though the business still appears to be active, there are very few reviews from the past five years.
There are too many poor reviews to look at every single one. But we can take a look at a few Yelp complaints that were voted helpful by the Yelp community.
Multiple Legal Judgments
In 2014, a customer purchased $9,400 worth of silver. But the company never delivered the product. After a year of waiting and having promises repeatedly broken, the customer sued for breach of contract in civil court. The company never responded, so the customer received a default judgment.
Apparently the company wouldn't respond to communication by email, phone, or mail. The judgment was sent to collections. According to the review, there are multiple judgments that have been filed against the company. The company owners seemed to be in hiding.
The customer said that their lawyer's recommendation was to file a criminal lawsuit for fraud if the company didn't pay up. Then they emphasized that no one should do business here.
No Returned Calls
One negative review was from a customer who said that he had called the store multiple times. He wanted to know whether a certain item was available so that he could come into the store to purchase it. However, nobody ever answered the phone.
The customer left several messages with his contact details. No one ever responded. He was extremely frustrated by the inability to communicate with the shop owner.
There is a negative review that doesn't have a lot of details, but it is extremely concerning. The customer stated that he had paid $13,000 for some silver in July of 2014. Nine months later, he had not received anything. When he went back to the store to ask the owner what was going on, it was closed.
He updated two months after that, about a year since first placing the order. The store owner had made no effort to get in contact with him. He still had never received his items. He said he would be contacting a lawyer.
One review said that buyers should beware. The customer had made a purchase with the store and paid with a check. They were told that the check needed time to clear before the order could ship.
Multiple weeks later, the customer still had not heard anything about the order. They were unable to get in contact with the store owner. It had been much more than long enough for even the slowest checks to clear.
The customer said that they would be contacting the police about the experience. They have not followed up on whether they did so.
Mysteriously Missing Order
A customer wrote a negative review after they placed an order for 200 ounces of silver at a locked price. The representative told them it would be available within two days. But when those two days passed, the company said there was no order record.
The price had dropped, so the customer placed the order again at the new price. But when they came to pick it up, the company tried to charge the old price from the first order. The customer refused to make the purchase and left the store.
The customer said that in the past, they had done business with the store without a problem. But the sudden drop in service made them worried that something was wrong on a managerial level.
Pros & Cons of Liberty Metals Group
Liberty Metals Group seems to be a legitimate business. But that doesn't mean that the business is run properly. In fact, there seem to be major financial issues that can escalate to the topic of fraud.
The company has been the subject of multiple lawsuits due to refusing refunds and not filling orders. Customers also report a poor level of service. The company management has hidden away rather than address any of the problems.
We definitely don't recommend doing business here. There are many other precious metals dealers that you can turn to instead.
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