Review: First Fidelity Reserve

Website: https://www.firstfidelityreserve.com/

Location: Beaumont, TX

Shipping: $9 orders less than $200, free shipping orders more than $200. All orders insured.

Payment Options: credit card/wire/check/money order

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I made my first actual PM buy from these folks on a special sponsored by AMAC. This purchase went well and I thought I received a fair price. But since then they have increased their per coin premium.

Has anyone else dealt with them and have any recommendations?

Thanks.

 

[pmbug]

Did you get physical delivery, or are they another outfit that wants to hold your metal in an account with them?

 

[FPrice]

Physical Delivery. I am new to the PM business but I've lived a long life and seen many attempted scams. I would NEVER trust some unknown entity to hold items such as this with the promise of future delivery.

 

[pmbug]

I have not done any business with them, but when I searched their business name, I found this:

http://www.complaintsboard.com/complaints/first-fidelity-reserve-beaumont-texas-c506379.html

I wonder if this is the guy/group that is always advertising in the NRA magazines with a different company name every so often. I think they were also based out of the Beaumont area, but my memory isn't 100% on that.

 

[FPrice]

I saw that a few weeks ago also. Absent any other complaints it may (or may not) be the work of one dissatisfied customer or someone with an axe to grind.

That's one of the reasons I joined this forum - to get information and opinions from others with more experience than me in this field.

 

[Nick&Sue]

Physical coins sent to us

We have purchased several coins, lots actually, from FFR. They are pushy, calling all the time, my husband is a push over, but we are worried about what lies ahead on a fixed income......

Better to have coins than cash it seems.

 

[FPrice]

Sue,

I hear ya about the future. But you need to teach your husband a simple lesson best explained by Robert De Niro in the movie "Ronin".

Sam: Lady, I never walk into a place I don't know how to walk out of.

Never talk to a salesman without being able to say "No thank you."

 

[singleshot]

I just made my first order with FFR, needless to say, before I saw this post. I will let you know what transpires.
I do know that it takes 10 to 15 business days for a check to clear, which I think is a bit too much. But when I get my purchase, I'll tell you.

 

[singleshot]

I got my order. It is a PAMP 5g gold bar. The laminate on the back of the card is not sealed and can be pulled back just far enough for the bar to fall out... I don't like that.
Along with the hard pitch for numismatic coins and the disrespect voiced about competitors, I think I will stay with my tried and true suppliers.

 

[joeb]

I too made an order through a special in the AMAC magazine. I paid by bank transfer. The transfer went to First Fidelity, but the silver coin rounds did not come to me. I waited two months and called them. They at first denied that the bank transfer occurred, but when I told them the name of the bank they admitted it had arrived, but my name was not associated with the transfer.

Finally we got everything straightened out, but still the rounds didn't arrive. I called again. They said someone would contact me. Within a day I got a call from "JJ" who said they'd had a glitch in their mailing, but would ensure the rounds were sent immediately. The rounds arrived promptly, and all was well in my bullion world, but.....

"JJ" started calling me daily with deals that were said to be fantastic. I broke down and bought some. Only THEN did I start doing due diligence - exactly backwards from what I should have done. Most recently "JJ" offered (as a "You-have-to-act-fast") a slabbed coin that turns out, as traded most recently by auction, to go for about half of "JJ's" quoted "great price."

Now I'm trying to send the coin back for a refund. The operator at First Fidelity Reserve asked me to please wait, and then transferred me to...guess who... the salesperson "JJ". "JJ" was incredulous and argued with me over the next thirty minutes. saying once that: "Nobody uses the Grey Sheet." Once I convinced "JJ" that I really didn't want the coin"JJ" said they'd have to get back to me.

First Fidelity Reserve has a thirty day return policy, but apparently not without a lot of painful back and forth with pushy salespersons. Stay tuned. It's not over.

 

[rblong2us]

Thank you for sharing your experience joeb
It could be a huge help for others wondering where to buy

 

[pmbug]

Based upon old feedback posted in this thread