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Problem - Mcm (Modern Coin Mart)

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Pillar of the Community
Debrajc's Avatar
United States
4211 Posts
 Posted 05/15/2015  2:16 pm Show Profile   Bookmark this topic Add Debrajc to your friends list Get a Link to this Message Number of Subscribers
First...I had no idea where to post this question so please feel free to move it.

OK guys and gals. On April 18th I placed a very large (well large for me anyway) order with MCM out of Lakeland FL. A little over $1,200 mostly world silver 1 oz rounds. Some were just "bullion" priced coins and some came with a premium as they were older years. I had gotten an extra check from work and went back and forth on whether to buy a nice coin or 2 for my 7070 or pick up some 1oz world rounds since silver has gone down a lot since I did any worth while purchasing. Anyway I also live in the state of FL and any bullion purchases under $500 you have to pay sales tax on I figured I would just spend it primarily with MCM and fill in a lot of gaps in my collections. I had purchased a couple of coins on ebay from them in the past and also bought the MCM exclusive Florida Panther at the FUN show this year so I knew they were a BIG company and rated A+ with the BBB.

BUT every time I would check on my order it just showed "completed" and there was no response to my inquiry about it. So this Tuesday I filled out an inquiry through PayPal figuring that would get them to respond. Now it's Friday and I just got an email from PayPal telling me they are escalating this to a dispute and are getting involved to get this resolved. Again I paid for this order on April 18th. I thought about mailing a check but figured I would just pay through PayPal and I would get it faster even if it did cost me a bit more money. I'm glad now I didn't pay by check.

On my PayPal inquiry on Tuesday I just told them to cancel it since waiting a full month on an order just wasn't good customer service and I had better expectations from their company.

Has anybody else had a problem like this? This is a really big company........
Bedrock of the Community
BadThad's Avatar
United States
19930 Posts
 Posted 05/15/2015  2:22 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
Did you try calling them? They are a reputable company.
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Valued Member
United States
368 Posts
 Posted 05/15/2015  2:58 pm  Show Profile   Bookmark this reply Add LowLife to your friends list Get a Link to this Reply
Agreed.....sounds like their ecommerce team is having a problem with Paypal payments. I wouldn't expect anything negligent is going on, but it sounds like something they need to address immediately!

I have purchased from them before via ebay....and it was a rock solid transaction. Good luck and keep us updated.
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Bizybackson's Avatar
United States
1817 Posts
 Posted 05/15/2015  3:44 pm  Show Profile   Bookmark this reply Add Bizybackson to your friends list Get a Link to this Reply
I've gotten good material from MCM via e-Bay and paid with PayPal so not sure what your problem with them is. Some information seems to be missing on your transaction with them. I've never known anything but prompt service and extraordinary responsive customer service from MCM. As for bypassing the FL state sales taxes, I'd go with Provident Metals or JM Bullion in Dallas, TX both of which take CC and have free shipping on orders over $99, that way you can constantly stack a little every month instead of blowing a wad all once in case your e-funds should somehow go awry. My bullion orders are generally $200-$300 never over $1K at one time unless it's AU or PT. Too risky with the shipping weight on silver otherwise. Good luck with the resolution, hope it turns out it was just a miscommunication.
Pillar of the Community
United States
1913 Posts
 Posted 05/15/2015  4:00 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply
Given that silver has gone up a decent amount since you placed your order, letting them off the hook is kind of doing them a favor. Call them.
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jimbucks's Avatar
United States
4691 Posts
 Posted 05/15/2015  4:15 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
I've never done business with them. Hopefully they won't go down the path of Tulving.
Keep us advised.
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BH1964's Avatar
United States
10982 Posts
 Posted 05/15/2015  4:30 pm  Show Profile   Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply
I bought/sold with MCM a few times in the past and never had a problem. Give them a call and ask what happened, they are going through an ownership change this spring.
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edweather's Avatar
United States
7375 Posts
 Posted 05/15/2015  4:50 pm  Show Profile   Bookmark this reply Add edweather to your friends list Get a Link to this Reply
Sorry to hear about your problem. I was under the impression they were a reputable company. Since it sounds like you already cancelled your order, you should get your refund soon. Calling them is a good suggestion, and yes silver has gone up a bit and it would be nice if you could complete the transaction.
Pillar of the Community
United States
937 Posts
 Posted 05/15/2015  5:03 pm  Show Profile   Bookmark this reply Add Tryna to your friends list Get a Link to this Reply
Just because I saw no one mention it, MCM was recently sold.
I have not dealt with them but reputable people have told me they are reputable. This could be the reason for the confusion with your order.

I would keep after them about it but also understand the situation.
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jimbucks's Avatar
United States
4691 Posts
 Posted 05/15/2015  8:01 pm  Show Profile   Bookmark this reply Add jimbucks to your friends list Get a Link to this Reply
If under new ownership, the past reputation is no longer valid, for better or for worse.

I would not let them get off the hook.
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welder's Avatar
United States
1037 Posts
 Posted 05/15/2015  8:12 pm  Show Profile   Bookmark this reply Add welder to your friends list Get a Link to this Reply
Interesting... I never heard that MCM was under new ownership. I've only done business with them only on ebay and have had positive experiences.

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Debrajc's Avatar
United States
4211 Posts
 Posted 05/15/2015  9:35 pm  Show Profile   Bookmark this reply Add Debrajc to your friends list Get a Link to this Reply
Thanks for all the replies and advise. Yes, I have dealt with them before and always been pleased and had my order show up in just a few days when I bought the couple of things on ebay from them, even tho I did have to pay sales tax. No big deal. But my previous dealings with them have been through ebay, not directly from their website. I didn't know they were changing owners so maybe my order fell through the crack. I haven't called them as it is hard for me to make actual phone calls from work as my hours are longer than theirs, but I did send a message a couple of weeks ago through the "contact us" via at the bottom of their web page. I hardly ever use the "phone" anymore...text me or email me. My PayPal account is linked to my checking account and the funds were drafted right away so there wasn't any hold up on my end. When I log into my account it shows the order as "completed" and has ever since I first checked on it a few days after placing it. I will keep you posted and thank you for the replies~!!
Pillar of the Community
Debrajc's Avatar
United States
4211 Posts
 Posted 05/15/2015  9:42 pm  Show Profile   Bookmark this reply Add Debrajc to your friends list Get a Link to this Reply
And yes Bizy...I have bought a couple of times from Provident...recently I bought 3 of the Privateer 2oz silver rounds. One for me and one for my son...and another just cause I really liked it~!! And I remember placing a small order with JM Bullion before...maybe just over $100 and was please with them as well. So far I have been pleased with all my purchases till this one. I just figured since I was going to spend over $500 and not going to have to pay the 7% sales tax I would order in state...so I would have it quicker. That logic didn't work out for me so well....
Pillar of the Community
CopperCastle's Avatar
United States
1132 Posts
 Posted 05/15/2015  9:53 pm  Show Profile   Bookmark this reply Add CopperCastle to your friends list Get a Link to this Reply
I've completed ebay transactions w/ MCM (proof orders, nothing huge) and all was smooth, that being said I had a similar incident with SilverTowne (based out of my home state). I ordered some 1oz bars off of their website & was almost 3 weeks before I received the product. I corresponded with them & they told me they were short on silver & would ship as soon as they were able....now the fun part. I had a pal that purchased a 10oz bar off of them through ebay (2 days after I placed my order on their site)... he received his bar in 3 DAYS!

I went out on a limb & wanted to do business with a local company thinking I would receive the product faster since the refinery was literally 80 miles away & didn't mind paying sales tax as I was helping the local economy...bit me in the rear. I think my friend received his order quicker because on ebay they have a reputation to uphold.

Edited by CopperCastle
05/15/2015 9:54 pm
Modern Coin Mart Representative
MCMKelsey's Avatar
United States
3 Posts
 Posted 05/22/2015  11:23 am  Show Profile   Bookmark this reply Add MCMKelsey to your friends list Get a Link to this Reply
Debrajc,

I am the Social Media Coordinator for MCM. I apologize for not seeing this thread earlier and would like to offer you some assistance. If you can please send me the first and last name on the order or the order number I would be happy to look into it for you. My email is kelsey@moderncoinmart.com. I know your hours are longer than ours so a phone call may be inconvenient, but I can assist you through email if that works better.

Thank you and I look forward to hearing from you.

Kelsey Howard
Bedrock of the Community
United States
20753 Posts
 Posted 05/22/2015  9:48 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Never heard about this company before but a personal reply right here shows some good intentions.
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