Wholesale Direct Metals

Deceptive and "High Pressure" business practices."Churning" of my account. Looking out for their own interests, not the clients.
In Feb.and March 2014 and Jan. 2015, I purchased a substantial amount of Numismatic Coins for a Precious Metal IRA from Marc *** of *** The coins were stored at an out-of-state facility. I was unsolicited contacted by a salesman named John from Wholesale Direct Metals in Feb. 2017. He told me that he had a better investment option than the coins that I had originally purchased. I told him 3 times that I was completely satisfied with what I had. He continued to "pressure me". To get him "off my back", I told him to send me more info. about his proposal. He told me that he needed to record my permission to do so. He then asked me questions that I wasn't expecting him to ask. (I told him so after the recording was over) He said not to worry about it, it was just "company policy" to do so. Approx. 2-3 weeks later, I called him back because I had not heard from him about his proposal. That's when I found out that he no longer worked there. I asked to speak to someone else, and they connected me to the Sales Manager *** I asked him to send me a copy of my account holdings. When he did, that's when I discovered that John had changed my account holdings. I contacted *** and told him that I DID NOT want or authorized this change. I told him that I wanted my account restored to what it was originally. He said that he would send this matter to upper management and he was confident that they would do the "right thing". Since then, I have talked to various UPPER MANAGEMENT reps, (*** and ***) about this matter. To resolve this issue, they have offered me a "REBATE" on my original purchase. They said I was "Overcharged Outside the Approved Spread Range' of the coins. This is NOT going to resolve this issue to my satisfaction. I have lost not only value, but I have lost a large quantity of gold in the process. You would think that after I purchased an IRA through them, that our business was completed. I hope that this is not their Standard Operating Procedure to their clients. In my case, they sure have failed to look out for anyone other than themselves. I WILL NOT recommend this company to anyone looking to invest money in an IRA or anything else financial.