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 Replies: 11 / Views: 2,934 |
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Valued Member
United States
58 Posts |
Hi, I haven't been on the forum for awhile. I got out of collecting for sometime.
My question is whether anyone knows if Penn Metals is in financial trouble or something of that nature? I have a presale order with them, its only $40. I went to their site and noticed that nothing was listed today. I haven't contacted them yet, as the item was supposed to ship around this time anyways, but seeing that nothing else was listed and there are some negative reviews stating problems with their orders. If anyone has heard anything or has an order with them it maybe worth looking into and seeing if there is any issue with them.
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Pillar of the Community
United States
4211 Posts |
It's not looking good torpedo. Many others are in your same situation and one customer has paid for $6,600 in a preorders for 2017 ASE's. There last FB and Twitter posts were on November 28th and no one is answering any calls or emails. |
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Rest in Peace
United States
17900 Posts |
If you paid with Paypal there is a window for filing a not-received claim. Paypal doesn't care if it was a pre-order.
So if you did pay with PayPal, if it were me, I'd be filing a claim with them.
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Valued Member
 United States
58 Posts |
I paid with visa so I'll have to contact my bank. Any idea if I would actually win a dispute in such a case?
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Bedrock of the Community
United States
17884 Posts |
You paid with Visa so a chargeback will get you your money back. The credit card company will make you whole again.
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Pillar of the Community
 United States
2843 Posts |
here is what it says on their site. Quote:
Dear Clients of Penn Metals,
Due to an unforeseen and unpredictable personal health crisis of the owner of the business, Penn Metals will cease to operate and accept new orders effective Friday December 9th, 2016.
During the first 10 months of 2016, Penn Metals processed over 26,000 orders for over 8,500 clients. We really appreciate your support and business.
Although the vast majority of clients have already had their orders shipped in full, there are a number of orders from the past month that are still open (most were due to ship in the past 10 days or next 5 days, or they were presales of 2017 issues).
As of today, an interim management team has taken over to assist with the fulfillment of all outstanding orders.
The plan:
Our plan is simple and straight forward. Any checks received in the last few days, as well as any received going forward, will be returned to the purchaser and the order cancelled with our sincere apologies.
For clients that paid by credit card, eCheck or another payment method, we will be processing either a full refund or shipping either your full order or partial order (with any unavailable items as a refund).
All clients with open orders will be contacted regarding the refund method and progress on their order shipping method within the next seven days (by December 16, 2016) and all will be shipped, refunded (or a combination of shipped/refunded) within the next 14 days (by December 23, 2016). To repeat, all orders will either be refunded or shipped (or a combination of both) by December 23, 2016).
We apologize in advance for the uncertainty and inconvenience that this action will cause and ask that you remain patient while we work through the backlog of orders that we have on hand.
As you can imagine, we are expecting a number of phone calls on this matter in the days ahead. Please feel free to leave a message and we will endeavor to return your call and give you an update. You can also contact us by e-mail at info@pennmetals.com.
Again, please accept our apologies for the inconvenience of this closing and know that we are working diligently to wind up each and every last open order.
Thank You.
Penn Metals Group |
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Valued Member
United States
58 Posts |
Good to see that they seem to be on top of this situation. Hopefully everyone is taken care and gets either their order or refund as stated.
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Pillar of the Community
United States
4211 Posts |
Interim management team....
does not sound good at all.
Typically that happens when bankruptcy is near.
Hopefully this works out for everybody.
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Pillar of the Community
United States
7616 Posts |
At least they appear to be trying to address the situation.
Most PM companies that shut down just take the money and run.
Anybody remember the Hannes Tulving fiasco(s)?
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Valued Member
United States
58 Posts |
I just received a confirmation that they processed a refund on my order.
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Bedrock of the Community
United States
12816 Posts |
Sounds good, torpedo.
I guess it's hard to tell a mom and pop looking at the virtual storefront.
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Pillar of the Community
United States
3843 Posts |
On other forums/sites there appears to be a lot of stackers short their metal. Hopefully this doesn't add to the long list of companies (Tulving, Bullion Direct, NWT Mint) that have shut down and left their customers holding the bag through questionable bankruptcy proceedings.
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Replies: 11 / Views: 2,934 |
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Posted 12/08/2016 10:28 pm
