1. TGIF with a holiday in the US on the horizon for Mon. Gold and Silver pulling back this am with gold down 7.9 to 1239 and silver at 15.72 down .07. Oil catching a bid this am at 27.33 and +1.12, while the US Dollar is up slightly.
    Dismiss Notice
  2. Need more resources for the Industry Links. Have some guns/ammo, preps, pm dealers, and charts, but need more to make it a go to resource and replace bookmarks. Please send me a conversation with your ideas for others we should add. TIA. Together we will make it a great resource.
    Dismiss Notice
  3. Week of 2/6/16 Closing prices & Chg Over Last Wk---- Gold $1157.7 Up 41.30-- Silver $14.80 Up 56 ct-- Oil $30.89 DOWN 2.73-- USD $97.05 DOWN 2.60-- Based on near term futures contract--- At JMB Current price AGE $1232.39 (1), SAE $18.46 (20)
  4. Please use the following for log on: www.goldismoney2.com We have moved to a new server. Please reset bookmark accordingly
  5. Added Heartland Precious Metals out of OK and LA to the map, Added Texas Precious Metals, and Added Provident Metals.

The "T" Company

Discussion in 'PM Dealer Feedback' started by luckabuck, Jul 12, 2013.



Thread Status:
Not open for further replies.
  1. luckabuck

    luckabuck Gold Member Gold Chaser

    Joined:
    Jun 20, 2013
    Messages:
    1,037
    Likes Received:
    789
    Trophy Points:
    113
    Three weeks ago, I posted, asking for advice on my problem with dealing with a bullion shipment from this company. I had already waited more than a month for this bullion shipment, getting the usual stalling from Karen.

    I was called a "plant", a "shill", and a "liar" from individuals on this website until I posted, against my better judgment, the actual invoice for the order with the "paid" stamp for my wired payment. I contacted the owner of the company over two weeks ago and got this reply about my shipment.

    " Because of the short shipping this week, because of the 4th of July, shipping next week, Hannes."

    Hannes Tulving

    P. 800.995.1708
    F. 949.722.0296
    E. hannes@tulving.com

    http://tulving.com

    I have received nothing during the two weeks since his comment, and got the stall from Karen again when I talked to her yesterday, saying she was not sure when my order would be shipped. Many of you asked to let you know when I received my shipment. The answer is that I still have gotten nothing but stalling from the two main individuals with this company.
     
  2. Someone_else

    Someone_else Silver Member Silver Miner

    Joined:
    Mar 31, 2010
    Messages:
    914
    Likes Received:
    760
    Trophy Points:
    93
    Until recently, I had a very positive opinion of Tulving. But this story is starting to sound like the one huge thread about NWTM we had about eight-nine years ago...
     
    CrufflerJJ likes this.
  3. gringott

    gringott Midas Member Site Supporter Midas Member

    Joined:
    Apr 2, 2010
    Messages:
    10,305
    Likes Received:
    9,560
    Trophy Points:
    113
    Location:
    You can't get there from here.
    This forum [GIM the first] helped me very much when I started by alerting me to the huge possible delays from NWTM. I have never ordered from them. Why would I take a chance when forewarned by the experts here? Thanks to all.
     
  4. Silver

    Silver Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    2,072
    Likes Received:
    1,938
    Trophy Points:
    113
    So it has been over 2 months since you paid in full for "in stock" merchandise? This is getting serious, I wish you luck and hopefully this somehow gets resolved.

    Just thinking out loud here, but would Hannes take you more seriously if he knew that this episode is being documented on a popular public gold forum and that it is costing him serious future business? Or are you afraid he would "fire you" as a "customer" as others have said he threatened them and it would cause more problems than it would help? Like that would matter at this point.

    This is looking like a legal problem, might be time to contact the state Attorney Generals Office and begin pursuing legal action?
     
  5. luckabuck

    luckabuck Gold Member Gold Chaser

    Joined:
    Jun 20, 2013
    Messages:
    1,037
    Likes Received:
    789
    Trophy Points:
    113
    You are correct in that I do not want to be "fired", as I understand he has a strange personality. If it does turn into a legal problem I have the contact information for the Orange County Sheriff's Office, the Orange County District Attorney' Office, the State Attorney General's Office, and the National Internet Crime Complaint Center. Do not want to have to do things through them, so I will give it some more time before using them as a last resort.
     
  6. goldielox1

    goldielox1 Seeker Seeker

    Joined:
    Jun 20, 2013
    Messages:
    258
    Likes Received:
    194
    Trophy Points:
    43
    I think I've expressed my opinion in another thread. He's unhedged and with the drop in gold, he's in a financial hole and unable to buy new product or sell his existing product without taking a huge hit. He's using your payment to make ends meet while desperately hoping the market skyrockets and he can start selling again without taking a huge loss on his accumulated goods. See his inventory where he's "sold out" on all product. If there were a shortage of product, the true dealers wouldn't be selling either.

    He's in a bad position though as far as your order because if gold does rebound, his existing inventory would become more valuable, but he'd take a huge loss on the sale to you ($60,000 for a 30% rise in gold price for your $200K order.)

    My suspicion is if gold does rebound, he will then try to renig on your purchase and then send the money back to you. If it doesn't soon, he files for bankruptcy for the 3rd time.
     
  7. savvydon

    savvydon Gold Member Gold Chaser

    Joined:
    Dec 14, 2010
    Messages:
    1,537
    Likes Received:
    1,127
    Trophy Points:
    113
    You sure seem to know a lot about Tulving. One has to assume that either you are him or else blowing a lot of smoke. I am sympathetic to the OP situation but remain optimistic that he will have his product shortly. I base this on my recent direct prior experience with Tulving.
     
  8. Chester-Copperpot

    Chester-Copperpot Gold Member Site Supporter Gold Chaser

    Joined:
    Aug 24, 2010
    Messages:
    3,116
    Likes Received:
    2,254
    Trophy Points:
    113
    For that kind of money I'd be talking to him face to face. I wouldn't let it go any longer, either give me my money, or my product. There's no BS'ing you on shipping times when your talking face to face.
    Send Jimmy Conway round, tell him you want your gold TODAY,TODAY,TODAY!!!

    image.jpg
     
  9. luckabuck

    luckabuck Gold Member Gold Chaser

    Joined:
    Jun 20, 2013
    Messages:
    1,037
    Likes Received:
    789
    Trophy Points:
    113
    Your post expresses my thoughts completely, and that is why I am very, very concerned about this situation.
     
  10. luckabuck

    luckabuck Gold Member Gold Chaser

    Joined:
    Jun 20, 2013
    Messages:
    1,037
    Likes Received:
    789
    Trophy Points:
    113
    I'd like to send "Whitey" Bulger to pay him a visit.
     
  11. Piggybank

    Piggybank Seeker Seeker

    Joined:
    Apr 21, 2013
    Messages:
    165
    Likes Received:
    65
    Trophy Points:
    0
    Occupation:
    Sometimes
    I'm unsure how you are willing to give more time on someone who's holding 200K of your money. As said, i would be in his face like right now. I've been burned over 3K but writing was on the wall the the guy was having issues but I ignored them and gve him additional time "to make it right" which in turn, led him to filing bankruptcy and leaving me with nothing. I'd begin lining up my ducks if I were you.....

    [​IMG]
     
    earplugs likes this.
  12. Piggybank

    Piggybank Seeker Seeker

    Joined:
    Apr 21, 2013
    Messages:
    165
    Likes Received:
    65
    Trophy Points:
    0
    Occupation:
    Sometimes
    ...and for the record, Im in no way condoning violence, just love that gif to one of my favorite movies "Stand Up Guys". :D
     
  13. andial

    andial Sir Midas Member

    Joined:
    Apr 1, 2010
    Messages:
    6,857
    Likes Received:
    4,215
    Trophy Points:
    113
    I say stay calm and don't think any sick thoughts like I would. Keep calling though. JMHO.
     
    gringott likes this.
  14. bemac

    bemac Midas Member Midas Member

    Joined:
    Nov 5, 2010
    Messages:
    4,939
    Likes Received:
    3,802
    Trophy Points:
    113
    I have a hard time believing he isn't hedged.

    luckabuck, I didn't see your other thread, so sorry to ask, but is this a gold or silver purchase? And how many dollar digits are we talking about? Thanks for the info.
     
  15. Silver

    Silver Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    2,072
    Likes Received:
    1,938
    Trophy Points:
    113
    Gold - 1/10 of an oz, $200 big ones. Time to form a posse!
     
  16. goldielox1

    goldielox1 Seeker Seeker

    Joined:
    Jun 20, 2013
    Messages:
    258
    Likes Received:
    194
    Trophy Points:
    43
    Considering the amount of money, I think if I were in your position, I would tell him you are going to fly out there in person if he hasn't shipped in the next few business days. Even if you had to spend $1000 to fly out there and get a hotel for a few nights, that's nothing compared to what you stand to lose. If you can't get product you can at least get your money back, immediately buy from a reputable dealer and then sue Tulvang for the loss of value from market movement (i.e. a pair off fee) as well as costs of collection. If he refuses in person to give you product or a refund, you can file suit in his locale while on your trip. Waiting indefinitely is the wrong thing to do IMO.

    btw...I thought it was funny some doofus said I was Tulvang because I used the facts of his prior two bankruptcies and inability to deliver or sell product after a market drop, to discern he was not hedged? Yes I am secretly Tulvang and am ragging on Tulvang.
     
    earplugs likes this.
  17. goldielox1

    goldielox1 Seeker Seeker

    Joined:
    Jun 20, 2013
    Messages:
    258
    Likes Received:
    194
    Trophy Points:
    43
    You may want to read his previous bankruptcy filings. I saw one of them which I believe was something like 6 million in debts and a few thousand in assets. Ask yourself how else this happens without huge market losses. If you're just dealing (buying and selling with spread) there's no way losses would get past a few months of whatever your monthly expenses are (<$10,000). Also, if you were hedged and you weren't making money on the spread, you wouldn't continue your business.

    I looked into this when I was looking for a dealer. As soon as I saw that I looked elsewhere.

    Reminds me of sub-prime lending 5-10 years ago. As long as the markets were slowly moving up, everything was dandy. As soon as the market moved down significantly, it was all over.
     
    earplugs, bemac and Piggybank like this.
  18. luckabuck

    luckabuck Gold Member Gold Chaser

    Joined:
    Jun 20, 2013
    Messages:
    1,037
    Likes Received:
    789
    Trophy Points:
    113
    I'm going to call this week, and if I do not get a confirmed shipping date, will be making plans to fly out there. If he thinks his personality is gruff, just wait until he meets mine with the amount of money that he is holding that belongs to me. I will probably be knocking on his door accompanied with a sheriff's deputy serving a warrant. I'm really a nice guy, but do not enjoy being taken advantage of.
     
  19. ttazzman

    ttazzman Gold Member Gold Chaser

    Joined:
    Apr 2, 2010
    Messages:
    3,876
    Likes Received:
    2,374
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    #1 i sympathize with your situation.......it sux big time to be in limbo and waiting

    #2......your going to show up on his door with a warrent?.....for what?.....poor business practices?

    #3......i just looked his site over.....i see no published shipping policy.....(either poor business policy or covering his arse)......without a shipping policy it seems difficult at best to persue a suit on him...and filing suit or persuing charges would certainly tie up your order indefinitely (if i were him and you filed suit on me i would use your money to fight the suit)(and i really dont see a prosecutor pressing criminal charges under the current circumstances)

    i have bought considerable sums from tulving in the past without issue ......but i did find his lack of policys...paperwork.....documentation.......made me a bit nervous in the past

    i was thinking of putting together a large gold for silver trade with him i will be putting on hold for a while due to your issues

    if i were you i would consult a lawyer and use wisdom and caution before proceeding because the BEST you can hope for is a fullfilled order

    you might try rather than beating him into compliance(doesnt seem to be working) ...maybe some bleeding heart sob story might get movement from him.....

    I once had a issue with a person (sent his wife and kids a basket of white carnations with a note telling them now beautiful they were at home) .....i got compliance from the guy the next day...(his wife asked him why someone else was sending them flowers)

    just my 2c worth
     
    Last edited: Jul 12, 2013
    earplugs and savvydon like this.
  20. savvydon

    savvydon Gold Member Gold Chaser

    Joined:
    Dec 14, 2010
    Messages:
    1,537
    Likes Received:
    1,127
    Trophy Points:
    113
    Ok, in the interest of of not appearing like a doofus (btw... a wonderfully descriptive word) to you, I'll remove any sarcasm and break it down as cleanly as possibly. I'm pretty sure that you are not, in fact, Tulving. The logical conclusion that follows is that you don't know what Tulving is experiencing or thinking. Making inflammatory predictions for the OP as to what Tulving is or isn't going to do with his money/purchase is not helpful for the OP, as they are not based on fact or experience. Again, I am sympathetic to the OP and have been and am currently in the midst of a similarly frustrating financial transaction that is temporarily stuck in a holding pattern. It is unfortunate that the OP has to expend considerable energy and effort trying to discern how to best protect his interests. I agree with other posts made that suggest frequent communication and attempts to hold Tulving to a clear timeline would be prudent and well advised. I have tried to share my perspective, which is that Tulving is a large dealer who does plenty of business, and has always come through for me, even as recently as this spring. I am not counseling complacency to the OP, but neither do I see any value for him to to be taking actions based on theories about Tulving that you have manufactured and pulled out your arse.
     
  21. goldielox1

    goldielox1 Seeker Seeker

    Joined:
    Jun 20, 2013
    Messages:
    258
    Likes Received:
    194
    Trophy Points:
    43
    They were deduced not manufactured. If you think my theory is hogwash, kindly explain your theory as to how he was $6 million in the hole in one of his bankruptcies (I don't know how much it was in the other, could have been more?)

    I'm not telling the OP what to do. Just saying if it were my money that's what I'd do. If something is "in stock" and hasn't been shipped in a month, I think any prudent party/judge would consider that a breach of contract. AND I don't think time is your friend IF Tulving is down big money on the PM market crash (which granted is my interpretation of him being unhedged in his past bankruptcies). If there's another good theory as to how he was $6 million negative in the past, I'd be interested in hearing and modifying my opinion.
     
  22. msolorio3

    msolorio3 Seeker Seeker

    Joined:
    Feb 15, 2013
    Messages:
    196
    Likes Received:
    132
    Trophy Points:
    43
    Occupation:
    Speech Pathologist
    Location:
    Riverside, CA
    Luckabuck, I live in Irvine, Ca. You can stay with my family if you need to come out.
     
    TheMadHatter likes this.
  23. Fatboy

    Fatboy Silver Member Site Supporter Silver Miner

    Joined:
    Mar 31, 2010
    Messages:
    924
    Likes Received:
    537
    Trophy Points:
    93
    Occupation:
    Used Up and Retired Out
    Location:
    Centrally Isolated
    Go back and reread his "issues" and the resultant bankruptcies, then come back to us and describe just what you found as you will see how he got put in the position he was put into. The .gov put the squeeze on him. His site now clearly states, he is not responsible for the rise or fall in the price of products he may sell to you and does not offer any advise on purchasing product from him. You also have to look at the dates of said bankruptcies, they were before Al Gore even invented the internet", ancient history.
     
  24. savvydon

    savvydon Gold Member Gold Chaser

    Joined:
    Dec 14, 2010
    Messages:
    1,537
    Likes Received:
    1,127
    Trophy Points:
    113
    This is not deduction, it is pure speculation.

    I don't spend my time forming theories about things I don't have a clue about. However, at this point I feel I can properly deduce that you have no problem using misinformation and speculating about that which you know not on a public forum which only serves to inflame one party and impugn the other.
     
  25. savvydon

    savvydon Gold Member Gold Chaser

    Joined:
    Dec 14, 2010
    Messages:
    1,537
    Likes Received:
    1,127
    Trophy Points:
    113
    This is untrue. When was the last time you visited his website? He is selling plenty of product right now.
     
  26. gringott

    gringott Midas Member Site Supporter Midas Member

    Joined:
    Apr 2, 2010
    Messages:
    10,305
    Likes Received:
    9,560
    Trophy Points:
    113
    Location:
    You can't get there from here.
    Glad I'm not one of the people he is "selling" to. Don't think I could stand the stress.
     
  27. Montecristo

    Montecristo Silver Member Silver Miner

    Joined:
    Mar 31, 2010
    Messages:
    656
    Likes Received:
    519
    Trophy Points:
    93
    Location:
    SE Michigan
    This is definitely beyond getting serious. I would reconsider your idea of a face to face visit at this time. When face to face, tempers and egos often get in the way of productive discussions and could possibly make things worse.

    I would start with composing a few letters to the BBB, to the AG's office and the other agency's you mentioned.
    Then before sending those letters off I would send a polite email along with a registered letter to Hannes outlining what you plan to do with those letters if the situation isn't resolved within two weeks. If after two weeks you still have nothing, then send off your letters. At that point you would have built an extremely strong case and would have conducted yourself professionally.

    Although I would still like to hear the other side of this story from Hannes's perspective, I think it's time for you to take a little more action beyond phone calls to Karen.

    I wish you the best of luck in a quick resolution to your situation.
     
    luckabuck likes this.
  28. ttazzman

    ttazzman Gold Member Gold Chaser

    Joined:
    Apr 2, 2010
    Messages:
    3,876
    Likes Received:
    2,374
    Trophy Points:
    113
    Occupation:
    commercial/ industrial-construction/engineering/ma
    Location:
    mid-usa
    I agree with Montecristo's plan with a few additions.....

    #1 get your lawyer to send the letter (shows seriousness and financial commitment on your part)

    #2 send it registered mail (proof that you contacted him)
     
  29. earplugs

    earplugs Gold Member Gold Chaser

    Joined:
    Apr 2, 2010
    Messages:
    3,454
    Likes Received:
    1,493
    Trophy Points:
    113
    damn, too bad you didn't come on here before you bought from tulving. I'd have told you to buy from the mint. you could get some nice 5 oz atb's or some pr buffalos at no risk from the treasury.
     
  30. savvydon

    savvydon Gold Member Gold Chaser

    Joined:
    Dec 14, 2010
    Messages:
    1,537
    Likes Received:
    1,127
    Trophy Points:
    113
    There is quite a difference in premium above spot when you buy from the mint. You are paying a numismatic premium with them.
     
  31. Thecrensh

    Thecrensh Gold Member Gold Chaser

    Joined:
    Jun 26, 2013
    Messages:
    1,998
    Likes Received:
    1,680
    Trophy Points:
    113
    Sorry to hear about your story...I wish you the best (for whatever that's worth).
     
  32. stonedywankanobe

    stonedywankanobe Banned

    Joined:
    Dec 6, 2012
    Messages:
    1,060
    Likes Received:
    1,063
    Trophy Points:
    0
    Occupation:
    carpenter
    Location:
    Arkansas
    I condones the violence... Id fly out and sock his ass up sompin awful over dem kinda moneys.
     
  33. Hystckndle

    Hystckndle Daguerreotype Fanatic Site Mgr Site Supporter

    Joined:
    Mar 28, 2010
    Messages:
    4,370
    Likes Received:
    2,780
    Trophy Points:
    113
    Occupation:
    Engineer
    Location:
    Central Florida
    Luck,
    Lookit, geez, I am sorry about your dilema,
    But this is an internet forum.
    Nuttin here can appease your plight.
    Heck, we might , all of us even, be a 4 chinned hairy older lady in Belarus....lol...
    I.e. this is not getting ya anywheres cept an outlet for some grief.
    Not a bad thing mind ya friend....but
    A personal visit and a " show me the money " seems to be the only
    Option on the critical path to resolution.
    You even have accomodations volunteered above.
    You can drop 200 on the product , you can surely afford the visit.
    JMHO , friend and best wishes.
    Haystack
     
    luckabuck likes this.
  34. Chester-Copperpot

    Chester-Copperpot Gold Member Site Supporter Gold Chaser

    Joined:
    Aug 24, 2010
    Messages:
    3,116
    Likes Received:
    2,254
    Trophy Points:
    113
    After reading this forum it's seems your in the same boat as many others. The good news is, some have waited 4-6 weeks, and while they are pissed about it, they did get there order.

    http://golddealerreviews.com/reviews/gold-dealers/3-tulving

    After reading through a few, it seems wait times are very long. Most are customers that have bought before, but will no longer buy after this mess.
     
  35. goldielox1

    goldielox1 Seeker Seeker

    Joined:
    Jun 20, 2013
    Messages:
    258
    Likes Received:
    194
    Trophy Points:
    43
    You are speculating that it's speculation and in fact your speculation is wrong. It's deduction. And no one has offered a better explanation including yourself so until you come up with another plausible alternative, close it.

    You do spend your time shooting your mouth off when you freely admit you have done no research. I challenged you to look at the basic publicly available documents such as the bk filings and you're too lazy to do it. Unlike you, I have actually looked into the matter.

    To the person that said that 2 bks is ancient history, remember history doesn't always repeat but it often rhymes. From reading the reviews on http://golddealerreviews.com/reviews/gold-dealers/3-tulving , Tolving isn't sending product to many that have paid for. Many are 2 months and counting. In fact I only read one person in the last two months that had received his order. So go right ahead and place your order if you're so confident in this business.
     
  36. Ensoniq

    Ensoniq Gold Member Site Supporter Gold Chaser

    Joined:
    Apr 9, 2013
    Messages:
    3,378
    Likes Received:
    3,668
    Trophy Points:
    113
    Occupation:
    Free Marketeer
    Location:
    North Carolina
    You're in the wrong thread, the Trayvon complaints are in another sub-forum :cool:
     
    stonedywankanobe and gringott like this.
  37. savvydon

    savvydon Gold Member Gold Chaser

    Joined:
    Dec 14, 2010
    Messages:
    1,537
    Likes Received:
    1,127
    Trophy Points:
    113
    I can fairly deduce at this point that you are a blow hard. I don't see any value in speculating about things that are unknowable to me, such why you see fit to declare yourself some sort of authority on Tulving's circumstances and business decisions. Why don't you spread your fairly tells somewhere else where they will be more palatable. :bear_angry:
     
    Zed likes this.
  38. Zed

    Zed Kangarude! Midas Member

    Joined:
    Mar 30, 2010
    Messages:
    9,118
    Likes Received:
    6,371
    Trophy Points:
    0
    Occupation:
    Watching screens.. :-)
    Location:
    127.0.0.1
    You are the doofus, you still have your 'facts' wrong and you are making claims that you simply cannot make on such scant information.

    Ultracrepidarianism is the appropriate word.
     
  39. Zed

    Zed Kangarude! Midas Member

    Joined:
    Mar 30, 2010
    Messages:
    9,118
    Likes Received:
    6,371
    Trophy Points:
    0
    Occupation:
    Watching screens.. :-)
    Location:
    127.0.0.1
    It is implausible that you could run his business without hedging, for instance if your 'idea' is correct try explaining how he survived 2008?

    Deduction my ass, you can't deduce anything from what you think you know, the 'facts' simply don't support your inane conclusion!

    Your barrel is the hottest pal.

    It doesn't sound like it!
     
    Last edited: Jul 14, 2013
  40. Zed

    Zed Kangarude! Midas Member

    Joined:
    Mar 30, 2010
    Messages:
    9,118
    Likes Received:
    6,371
    Trophy Points:
    0
    Occupation:
    Watching screens.. :-)
    Location:
    127.0.0.1
    OK... lets do it!

    This is the LA Times press coverage of the 1990 incident... dates and links.

    [TABLE="width: 1200"]
    [TR]
    [TD] 2/08/1990[/TD]
    [TD] Newport Beach Coin Dealer Under Investigation [/TD]
    [/TR]
    [TR]
    [TD] 3/08/1990[/TD]
    [TD] Tulving Coin Sells Assets to Stay Afloat [/TD]
    [/TR]
    [TR]
    [TD] 16/08/1990[/TD]
    [TD] Newport Coin Dealer Placed in Receivership : Investment: The government is also investigating practices of an Irvine rare coin appraiser, the industry's largest. [/TD]
    [/TR]
    [TR]
    [TD] 17/08/1990[/TD]
    [TD] O.C. Coin Firms Are Accused in FTC Complaints [/TD]
    [/TR]
    [TR]
    [TD] 17/08/1990[/TD]
    [TD] FTC Accuses Big Coin Dealer, Appraiser : Investment: In two separate Orange County cases, the agency says the dealer ran a Ponzi scheme and the appraiser favored good customers. [/TD]
    [/TR]
    [TR]
    [TD] 26/11/1990[/TD]
    [TD] A summary of Southern California-related business litigation developments during the past week. [/TD]
    [/TR]
    [TR]
    [TD] 16/01/1991[/TD]
    [TD] Tulving Coin Investments Files Chapter 7 : Liquidation: The dealership faces millions of dollars in claims from disgruntled customers and a lawsuit by the FTC. [/TD]
    [/TR]
    [TR]
    [TD] 19/06/1992[/TD]
    [TD] Orange County [/TD]
    [/TR]
    [/TABLE]

    Basically the 1990 incident revolved around the rare coin side of the business and was settled out of court which means the truth will never really be known simply because...

    1. As soon as they started the investigation the business was dead, making an investigation public is a certain way to kill any dealer regardless of the veracity of the charges.

    2. As a small business you cannot spend enough to defend yourself against the US government, a settlement is the only way out while there is still something left to salvage.

    One thing we do know is that this bankruptcy was not due to Tulving mismanaging his bullion and bullion coin sales business.

    As for the charge of fraud, I really don't know the full detail of that case, rare coins are an illiquid and really iffy market period IMO. Settling a coins worth is much like settling a paintings worth, if you paid it then that is what it is worth to you... no guarantee that the next guy will see the value.

    So Mr. Goldielox, to keep this balanced, what about you furnish details of this other bankruptcy story you claim?
     
    Last edited: Jul 14, 2013
    smooth likes this.
Thread Status:
Not open for further replies.

Share This Page