1. Special Issues in the Precious Metal Industry re Guaranteeing a Refund and Return
A Refund and Return policy is a bit more tricky in the precious metals industry. First, the usual refund and return policy that we as consumers are familiar with, is not permissible, to a degree. For precious metal companies this is an unusual area of law. The law prohibits every precious metals dealer from guaranteeing that they will repurchase the metals from the consumer at a later date. This can be a good thing as it precludes companies from making promises they may not be able to keep as they might not be around later. It is also good because the prices for metals change constantly. Therefore what are they actually guaranteeing? That they will buy them back at the price you purchased? That they will buy them back at what price?
Such a guarantee is impermissible to every dealer, if they do, be weary. That said, we believe in offering what the law allows us to offer, that is reasonable and fair.
2. Refund and Return for a Change of Mind
We are sorry but gold is not like clothing, and therefore having a change of mind is not one of the acceptable reasons in our industry. Please be thoughtful of your budget and needs.
3. Refund or Return for Product not as Purchased
Exchanges
This is of course a legitimate reason to request an exchange as you did not receive what you bargained for. The nature of this industry requires a rather detailed accounting of every action that occurs. So when shipping a product, checking occurs two and even three times. To make sure that your order is what we ship to you.
Example story:
That is not to say that the process does not involve humans and thus events can occur. As an example, Safe Haven Metal has a dear client that received 5 coins that did not match her order, and our custodian caught the error. The request pertained to Panda silver coins. Part of the order contained a discrepancy as to the weight difference between 30 gram coins and 1 troy ounce coins. In the end, our client received 5 grams more silver than her contract called for. With pleasure, Safe Haven Metal was able to call an error benefiting the customer.
The result of checking over 5 times, revealing a beneficial error, also highlights how unusual such an occurrence is because of the many eyes involved. We are, after all, dealing with gold here.
Procedure summary:
But in case you find an issue with your product and that it does not meet the contract you entered into, then you are must immediately notify Safe Haven Metal within two business days of receipt. We require you to document the product with photographs and retain the original packaging so that we can investigate the matter and provide prompt assistance, more details that you must follow are in our shipping policy page. After shipping the product back to Safe Haven Metal LLC at 1000 Town Center Dr. Suite 300, Oxnard, CA 93036, then we can inspect the goods and communicate with our vendors to ensure we can fulfill the contract.
Refunds
In no event can we refund the purchase price as that would violate the first rule stated above. But in the event that a product does not meet the contract terms, e.g., damaged or different than ordered, then Safe Haven Metal will work to make it right. Of course if it is an error in your favor we would love to hear about it and add it to our collection of fun stories that benefit our clients.
4. BUY BACK POLICY (from the purchase agreements)
The law prohibits Safe Haven Metal (SHM) from guaranteeing to repurchase Precious Metals that SHM sells, and SHM does not guarantee that it will repurchase any Precious Metal item that Client may purchase; what SHM extends is the possible availability as a buyer at a later date. If and when Customer desires to liquidate, simply call SHM and let SHM know you are ready for SHM to exchange for cash the Precious Metals purchased from us subject to the following procedure that must occur:
i.) Customer ships the Precious Metals products originally purchased from SHM for inspection because the buy back offer is only for the exact items purchased from us, inclusive of exact condition; and
ii.) The cash value of buy back will be at or near Spot Price at the time when we have examined the product to ensure it passes inspection (which is at our or our designated inspector’s sole good faith discretion as to current condition compared to documented condition when originally purchased);
iii.) A new agreement is then presented by SHM to Customer reflecting Spot Price and conditions quantities much like this Invoice; the offer is valid for 24 hours after inspection approval and new agreement sent;
iv.) Once signed and returned to SHM the money is then released to you within 72 hours; if Customer rejects the offer then Customer must pay for return shipping costs and the product will be returned to Customer.
v.) There is no fee on buy back, as that fee is part of the initial purchase Agreement with us as a part of our consideration to be available for your needs at a later date, consistent with this whole paragraph.
5. Conclusion
Our customers always come first, we would not be in business without you and we show that love and respect whenever given the opportunity. The law does treat this industry differently and we aim to abide the law when we must and assist the client when the law gives us room to maneuver. Please call us asap so we can see if your concerns are within our ability to assist. And please keep the following in mind:
- We cannot accept make refunds or exchanges generally.
- Please only purchase what is within your financial means to spend.
- If a product is damaged or not what you ordered, contact us within 30 days, document with pictures, save original packaging and ship all back to us so we can investigate.
- If you would like to sell your metals back to SHM, we are committed to being available for this event subject to the rules set out above.
Please read our full site terms and conditions as well as our contract terms and conditions for home delivery or for substitute service (IRA deals) to learn more.
