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1 hour ago, wilky1 said:

 

Chards

"Alternatively, if you rather not wait, we can offer a few different options. As the price of the coins is based on the live gold price unfortunately we can not offer a refund. We can however purchase the coins back at the intrinsic rate, which is currently £225 per coin. Another option would be to upgrade to the newly minted sovereigns, which would be an additional £4.25 per coin. "

 

Now this comment does not make sense to me as they don't have the gold so how is my money linked to the live gold price?  my funds are just sitting in the bank awaiting the time that they CAN buy the sovereigns so to me that comment is pure rubbish.

So I will just have to keep waiting...lol

Wilky

Diasgraceful behaviour from chards. Cant afford any gold myself for the forseeable future but i certainly wont be buying from them when i do.

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4 hours ago, wilky1 said:

Hmm, I think I will keep my thoughts to my self in the future, no where did Chards say it would take months to fulfil the order but hay-ho we live and learn, the main thing that shocked me was the fact that they refused to refund and offered to buy back at a lower price which would have been a small loss of £18.55 to me.

Chards

"Alternatively, if you rather not wait, we can offer a few different options. As the price of the coins is based on the live gold price unfortunately we can not offer a refund. We can however purchase the coins back at the intrinsic rate, which is currently £225 per coin. Another option would be to upgrade to the newly minted sovereigns, which would be an additional £4.25 per coin. "

 

Now this comment does not make sense to me as they don't have the gold so how is my money linked to the live gold price?  my funds are just sitting in the bank awaiting the time that they CAN buy the sovereigns so to me that comment is pure rubbish.

So I will just have to keep waiting...lol

Wilky

How much did you pay? Their buy back price topped £228 a week or so ago. Was wondering if the two prices might have coincided at some point recently and you could have come to some arrangement.

The more I think about it, it seems to me they are happy to have some outstanding short selling committments, it will hedge their exposure to gold due the very large stock they must carry.

This is probably a very unusual situation. Not to be able to fulfil orders for bog standard sovereigns for many weeks. I have heard/seen them say on occasions that they often buy many hundreds of them a week.

Therefore I think in this situation, they should put aside their rules and refund any buyer who wishes it. It would be right and proper thing to do.

 

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They best thing to do from a customer satisfaction point of view is for them to stand the £21 difference and send you new coins.

the length of time it has taken to fulfill this order is farcical given its volume. If I owned this business I would of sent out new coins probably before 30 days was up as with most businesses repeat business is key. Given how companies operate in today's internet world this selling practice is probably 10-15 years out of date when selling to the man on the street. When your caught out with small print it never makes the buyer feel good I can see how chards feel they are doing no wrong as it is stated in the t c's . But when your heading towards the second month your hard pushed to return to that seller especially as this is not the first time that this has happened with the seller. I think if I was to buy from them it would be new coins confirmed in stock via phone call first or a different seller compleatly. I hope you get this resolved in the near future @wilky1

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Chards have been around for a long time and for a reason. Just give them time. You might order an expensive piece of custom furniture and pay upfront and are happy to wait weeks/months for it to be delivered, installed. You pay for airplane tickets similarly. If you think 2 months is a long time, I have been waiting over a year for a product from elsewhere. It is called trust. Just my musings. No reply needed :)

Edited by Oldun

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This thread is an odd one. I get the impression had it been about any other dealer not so close to the forums home base, it would not have turned weird. The central issue of the length of time to source and just when does that timescale become less than acceptable, a non-refund policy where the items are not even close to being sourced yet for the customer and the dealer has not committed themselves yet or out of pocket acquiring the items - are all valid discussion points.

Instead there are calls to end the thread, a moderator making a statement that surely there is nothing else worth adding, others stating neutrality. ? . Why have people even been made to feel this way? As for 'trial by forum' which has been said too, what does that mean? It's a regular exchange of viewpoints where other random dealers have been concerned, but suddenly it's not good form when the subject is seen as a friend of the forum.

I have no doubt at all that they are an excellent dealer. But their reply wouldn't satisfy me either. They have said the cause of the delay is due to having to fulfill a very large order first, an additional backlog of other customer orders, and a slowdown in the sourcing market. A very unfortunate trifecta. This has to therefore mean that they themselves see this situation as unusual, and not normal for meeting customer expectations. So i don't agree with the 'it can take as long as it takes' view. The point is, they know all this and are still allowing the backlog of customers to grow. This is not conveyed to a customer when he hands over 100% funds. Chards obviously need, in exceptional circumstances, to suspend that service for a short period until they get back on track.

As it is an unusual very much ongoing backlog situation, where they knew this and now admit it, but the buyer wasn't made aware of an exceptionally difficult time to source - give the guy a full refund instead of the "buy back" price.

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11 minutes ago, wilky1 said:

Its all been resolved and they are being sent.     

I will say that previous buys for sovereigns have been acted on very quickly by Chards it was just the attitude that I found hard to accept.

 

Wilky

Great you got sorted! Sounds like you got put to the top of the queue.

New topic! "outrageous favouritism shown by dealer" :D

 

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20 minutes ago, wilky1 said:

Its all been resolved and they are being sent.     

I will say that previous buys for sovereigns have been acted on very quickly by Chards it was just the attitude that I found hard to accept.

 

Wilky

About time! Glad it is all sorted.:)

Though I can't help but wonder had this thread not been started you would still be waiting...

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3 hours ago, Oldun said:

https://www.chards.co.uk/info/terms

Neutral in this. Just trying to help :)

 

2 hours ago, Oldun said:

Chards have been around for a long time and for a reason. Just give them time. You might order an expensive piece of custom furniture and pay upfront and are happy to wait weeks/months for it to be delivered, installed. You pay for airplane tickets similarly. If you think 2 months is a long time, I have been waiting over a year for a product from elsewhere. It is called trust. Just my musings. No reply needed :)

 You prove @WealdenWoodsman 's point. No reply needed :)

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This thread has been an education for me, I never realised that Chards sourced to order despite having browsed their website numerous times and it will influence my future buying.

On the flip side, I ordered 3 sovereigns from Hatton Garden Metals on Sunday night, got an email Monday to say they had been dispatched and the postman handed them over Tuesday morning........

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19 minutes ago, 60015 said:

This thread has been an education for me, I never realised that Chards sourced to order despite having browsed their website numerous times

The only product sourced to order is the secondary market sovereign. Everything else is either in stock or not.

The whole point is that you can - as you did with another dealer - buy low premium sovereigns at a convenient gold price. HGM only sells what they currently hold but if you wanted to buy more, with Chard you could. Someone did this and that's why the big queue formed by which the thread operator unfortunately got affected. 

 

A while ago people were upset with HGH because they increased their premium - presumably because they had to use allocated sovereigns for their "low" premium product.

Every few weeks people get upset with gs.be because of their gentle art to abuse. 

 

Chards offers a low premium product and a good service including communication on this forum; in an isolated case a forum member had to endure an extraordinary long waiting time. I don't think this justifies a post this long or an outrage this big. 

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Well I can say i am impressed with Chards. Ordered my first proof sovereign and being in Luxembourg that isn't exactly necessarily the easyest to do. The customer service, communication and assistance was impressive for me.I had it at first sent to my place but was then told by a friend i should grade it. So even though i had to change the shipping address after paying there was no problem at all. They helped immediately and without any problems or any additional shipping charges. For me the best experience so far.

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I think with all purchases, sometimes things get delayed or go wrong. I'm currently having an ongoing issue with the delivery of my new laptop due to incompetence of their part. It comes down to communication and customer service. I won't go into the boring details of my issue but customer service should be paramount and keeping the customer informed of progress lessens the angst.

Glad it's all sorted.

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10 hours ago, caloundracats said:

I think with all purchases, sometimes things get delayed or go wrong. I'm currently having an ongoing issue with the delivery of my new laptop due to incompetence of their part.

Chard do laptops now? No wonder their customer service has gone down hill. Clearly spreading themselves to thin. 😀

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