I called Aurum Advisors in January 2011 and talked to Barry Davis about changing the custodian on my Sterling account from other company to Aurum Advisors. He then told me to convert my gold coins into silver proofs and he gave some reasons. I agreed after I repeatedly made sure that my account value will not drop much because when I changed from traditional IRA to Sterling account I lost about $6, 000 right off the bat. Mr Davis told me that he is going to convert my gold coins into silver proofs for the same value, so that MY ACCOUNT'S VALUE WILL REMAIN THE SAME. I made sure that he wouldn't charge me 18% spread or more. He said, no. For this kind of transaction the spread will be only 4%. Luckily I only converted some of my gold. I converted about $8, 000, thinking that 4% will be affordable, $320. About 4 months later the silver proofs were deposited into my account, and lo and behold my account value dropped by more than $3, 000 all the while silver price rose from $29/ounce since I talked to them to $34 today. I just wished that Mr. Davis was more upfront and honest about the spread. In a year I lost over $10, 000 while gold and silver prices skyrocketed. Be careful before you do business with Aurum Advisors.

I am like the rest of the complaints. Overpricing. Long hassle. No answer to threats. Said they'll talk with lawyers. Lawyers promised to call back but never did. This took place from August 2010 to January 2011. I had a middle five figure order for silver coins. The person sounded great over the phone (for libel purposes will not say the name here). I believed him. he said they were $117 now, and $110 two weeks ago when i had placed the money in my Sterling Trust account. And gold coins were $xxxx now, and $xxxx two weeks ago (not as high of a gain). Great sounds good. Let me get the silver. Oh when did the big money get into silver? wow sounds good.

About two and a half weeks later, i call in asking about my order. ANOTHER PERSON represents me on my account. Oh what happened to the first person. He's not around now, i can help you. oh, where's my order? it's coming. After this call, i'm wondering. i have to call again and ask exactly what i have. He would not say exactly. i had to ask more than once. American Eagle silver proof coins. I look it up. I see they're $58, $60, $62.

Later i call again, like a week later. I ask why was i sold something for $110, when i see the same thing for $60 average? oh you're looking at the wrong thing. oh ok.

Later, i call again, another week or two weeks later. Are you sure it shouldnt be $60 vs $110? yes, it's $110. you have the wrong product. oh, show me written proof of the right product. here's where the guy got all huffy. he said to go to this dealer site and pay $3, 000 a year to get the dealer prices. oh ok, send me the fax. oh where's my invoice. I FINALLY GET MY INVOICE two months later.

I check out the dealer site. i cannot get the prices without paying. i call aurum again. boy i'm getting tired of writing. anyways, over the period of time they said talk to their attorneys, they will not answer my calls. i did talk to their attorneys who said over a period of a month they would get to me. after the month the attorneys stopped calling. so i called back aurum. i threatened FTC and State Attorney General (in separate phone calls). the main guy, Mark Lubaszka, scoffed at me when he asked "what are you suing us for?" and honestly i was not sure what i was suing them for.

Oh yeah, i figured out in my sleep. i'm not suing them. no need to sue them. Gross misrepresentation. i looked through the web for some citations, and told them i'm having FTC and Attorney General go after them.

It takes more months. I'm getting skeptical about Sterling Trust too. Anyways after a while, and during many of these calls, i faxed them immediately saying i had called them (for paper proof), i finally get my full money back. all intact, unlike the other complaints here about bounced checks from Aurum. the promised payment of IRA fees on their website was for naught, never happened. I would still pursue FTC and Attorney General whenever i get a chance.

after awhile i cleared things with sterling trust. i didnt look and didnt see any bad things about sterling trust. but for now i am continuing with sterling trust. i thought they would look out for my money after i had them wire my money. they said it's a self directed ira. if i had hired a full service broker, the full service broker would be required to look after my money after it had been wired.

DO NOT BUY ANY METALS FROM AURUM, THEY ARE LIARS AND TELL YOU ONE THING AND WHEN YOUR SHIPMENT ARRIVES, SURPRISE YOU HAVE BEEN RIPPED OFFED. I WISH I WOULD HAVE WENT WITH A MORE REPUTABLE COMPANY. MY ADVISE IS TO STEER CLEAR OF THESE JOKERS UNLESS YOU LIKE THROWING MONEY AWAY.