This sounds like a scammer comment I know. But read on .....
I lived and worked in Zug from 2013 to October 2016.
Earned a decent salary and saved lots, so prior to return to UK I had idea of investing some money in Gold.
I purchased 3 * UBS 50g gold bars, 5 UK sovereign’s and 2 * 1 Oz Canadian Maple leaf coins.
I have now sold the 5 sovereigns and 1 Maple leaf coin for a good profit.
Why am I mentioning this?
One of the Maple leaf coins has been detected via two tests at the bullion dealer as a fake.
I have invoices for my gold purchase via UBS Zug and they sold me a fake coin back in September 2016.
I’m now stuck with this coin and nothing I can do about it.
Its my word against UBS, so not worth perusing.
How can I prove its the coin they sold me?
I can’t..
Invoice just says ‘Gold Maple Leaf 1 oz’ ...
Be warned!
Luckily I purchased the Maple Leaf on the 6th of Sept 2016 and 29th of Sept 2016 so they were from different batches and thus one was good and now sold to a bullion dealer.
Actual loss of approx £980 on this coin is made up by some of profit on other good coin aka £520 profit.
I have purchased gold since 2016 in the uk but only ever sovereigns.
Never a Maple Leaf so UBS was only source of purchase.
What a bizzarre thing to say. Obviously you should contact UBS to speak to them about it, I mean they sold you the coin sp why wouldn't you do that and explore all of your options?
I will email them and see what they say, but will not hold my breath.
Should have gone into more detail on opening post.
During my stay in Switzerland we managed to save a substantial amount of money. I was sending back to uk £5k to £6 a month.
So we are not skint ...
Thus the hit is one of those things.
I just want to warn others not to trust UBS like I did.
I’m shocked to be honest.
Also (not looking for sympathy) I have come out of remission for blood cancer and having to visit hospital four times a week.
Fatigued and have chemo brain ...I put the sugar bowl in the freezer yesterday lol
My wife is very stressed at the moment also, so I don’t want to get into a protracted dispute with UBS at the moment for both of our sakes.
My action plan will be to get coin retested - however where it was tested is a major bullion dealer.
Email UBS and ask for an opinion - however it’s my word against theirs even with my invoice that does not mention anything unique about the coin not even the year it was minted...sorry faked (2002)..wel fake date on it.
I will probably end taking the loss on the nose and move on.
However don’t trust buying Gold from UBS is my message or get it tested as soon as you leave counter.
Next week I went to Midland Bank (north London Edmonton) and I withdrew £200 to pay here back.
Cashed a cheque over counter.
I gave her money on a Thursday and she went shopping Friday and paid £200 into same Midland bank branch.
She phoned me Friday crying that she had paid in a fake £20 note and been hauled into managers office and read the riot act. This a 78 year old lady who has banked with them for 50 years. He threatened to call police but gave her back the note and told nerf to go.
I didn’t sleep a wink that weekend due to rage.
First thing Monday (took a day off work) I joined queue for bank to open.
I told everyone in queue what they had did.
At counter I told story and asked him to contact the police.
Cashier went off to see manager , came back and swapped note.
I said I will have it pound coins please.
Wrote to manager and demanded an apology that we never got.
You are asking people not to trust UBS without you having contacted them to confirm if they will resolve the situation in your favour or not. Contact them, see what they say, and if they say it's not their problem then you would be justified with the warning. There is at least a chance they will ask to test it themselves to verify and replace.
Don't just email them, call them and explain fully or even go to a branch where they deal with this stuff.
It's unlikely that one 'random fake' went via UBS in 2016. I am sure if you report it you will discover either a) will compensate you as the cost to their reputation is worse than the cost of the coin b) inform you that they are aware and if you can prove you bought on xyz date there is a procedure for this.
Let me give you a warning - making unsubstantiated allegations against a named company is dumb and can prove to be expensive!
You have no evidence that UBS sold you a fake coin and frankly I very much doubt they did. Fake coins are part and parcel of their business and they have procedures in place to ensure they don’t buy fake coins. It would not be worth their while to sell the odd fake coin.
From what you have said, the coin was not always in your possession - you send it for valuation for example. My guess is that the dealer mistakenly bought a fake coin in the passed and swapped it for your coin during the valuation. But that is just my guess.