Class Action against NTR Metals?

VTCoins

Has anyone heard anything about a lawsuit against the refinery NTR Metals out of Dallas?

At the ANA show, someone mentioned that there is some sort of class action lawsuit against them regarding correct assay percentages on the gold they refine.

OPA

Putative nationwide class action filed against NTR Metals, LLC in the U.S. District Court for the
Northern District of Illinois, alleging violations of 50 states' and the District of Columbia's
consumer protection statutes . Plaintiffs allege that they purchased precious metals from the
defendant for refinement and sale, but received less than fair market value due to the defendant's
unreliable testing methods , which were misrepresented to the plaintiffs. (Ashland Jewelers, Inc., et
al. v. NTR Metals, LLC, No. 1:1 Ocv4690 (N.D. Ill. complaint filed July 27, 2010).



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VTCoins

Yoiks!

greatnortherncoin

anyone ever deal with them ?

AboutAg

<< <i>anyone ever deal with them ? >>



They have been flooding the market with silver bars for perhaps a year or so now. Even Tulving sells them.

Unfortunately, I cannot find any details of the lawsuit, so it's not clear whether someone assayed some of the bars and one turned out to be .994 fine silver rather than .999, or whether one was say .500 silver, or they were all very low, etc.

PerryHall

I have one of their 1 oz silver bars. Do I reason to be concerned? Not that a 1 oz bar is anything to lose sleep over. According to their web site, they are heavily into PM recycling.

VTCoins

<< <i>anyone ever deal with them ? >>



NTR has been doing my gold refining for the last year or so, and overall we have been pleased.

At the ANA, one of NTR's competitors approached me about refining with them. They mentioned NTR's lawsuit to me.

BlindedByEgo

I have used the Downtown L.A. office to refine gold scrap. Never any issues.

MrOrganic

any news on this?

Junior22

Junior22

bodyworkz

I have had good deals with NTR.

Suits against big companies are not that uncommon.
They have many locations so I am sure there are going to be some places that might not be real accurate, it depends on the operator of that location.

For me, I go to their office in Roseville Michigan and they XRF the metals while I wait.
The wait time is normally 30 minutes to 1 hour.

XRF in general;
XRF testing is done with a set of standard software from the mfg of the machine.
The user has control over minor calibrations only, the mfg does any major adjustments.

If you ever have questions about an assay you should have a fire assay performed, it might take them another 30 minutes.
The fire assay is more accurate than the XFR if you want to know the exact gold percentage.
Minor differences in a XRF to a fire assay are normally because of platinum metals, the fire assay will leave the PT in the gold.

If at all possible you should be present when selling gold to a refiner. Otherwise just find a local buyer.

John.