Serious accusations being thrown at Tulving. Are they in trouble?

vibr0nic

I am sharing this simply as a PSA and for any discussion. I cannot attest to the merit of the content of this site, but it certainly appears to have some substance to it. Perhaps some users here can share any personal experience to support or contradict the apparent state of ordering from Tulving.

Tulving problems.

derryb

Long time buyer from tulving with no complaints during the time i did business with them. Looks like my switch to dbscoins for cheaper quantity mid-last year saved me a lot of heartache.

Finally got my timing right in PMs.

morbidsteve

I'd say they're in deep poo-poo, seeing how there have been two complaints filed in court. Not sure myself as I've never dealt with them, but I know I sure won't deal with them ever now.

Thanks for the heads up.

Steve

DrBuster

Way too many reports of issues to be comfortable.

secondrepublic

There was a thread on this earlier, in which I posted a link to something similar happening to Tulving 23 years ago -- and it led to bankruptcy and lots of tears. Link to 1991 article. This just illustrates the need to know who you're doing business with. It also is another reason to either deal with a good local B&M where you can cash & carry, or with a solid established company like APMEX, even if it's a little more expensive. I guarantee whatever couple of bucks these people saved buying from Tulving will be wiped out thousands of times over if, indeed, he goes belly up.

roadrunner

Yup, Tulving took a lot of people for big money back in the day. I remember seeing his raw coin "investment portfolio" ads in Coin World every week and just shaking my head. This was before slabbed coins became the norm. You just knew that it wasn't going to end well. Obviously, the Federal Trade Commission thought the same thing when they went after him.

derryb

probably just another case of selling what you don't have. We've seen it many times in many places. It never turns out well for the seller, especially when prices are down from your buy price.

92vette

Well a longstanding member of another popular gold forum I visit still has not received his whole order after waiting nine months. Yeah, I'd say there's trouble.

OPA

<< <i>Yup, Tulving took a lot of people for big money back in the day. I remember seeing his raw coin "investment portfolio" ads in Coin World every week and just shaking my head. This was before slabbed coins became the norm. You just knew that it wasn't going to end well. Obviously, the Federal Trade Commission thought the same thing when they went after him. >>



That was for only a few measly millions. This time around, it could reach a few hundred million. As the song goes: "when will we ever learn."

fishcooker

Who needs to fraud a $100 million???? I could have a great fishing trip on just $100k.

streeter

The AG probably can't go after him right now with the intent to shut him down.

The old saying, "owe the bank $100,000-the bank owns YOU. Owe the bank $100mil?- you OWN the bank.

His problems could be managed if he had assets he could pledge.

metalmeister

You mean one of these?

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Check the price on the slab!


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TwoSides2aCoin

Less is more

Wingsrule

Link in the OP was updated Friday. Interesting.

OnlyGoldIsMoney

IMO this is not going to end well for those waiting for payment or product.

jmski52

At last, some people with first-hand experience from "the first time around". Very interesting.

I came across Tulving around 1999, and I was ordering bullion from him - I think that my first order was a roll of 1/4 oz 2000 Unc Plats. I was puzzled because I received a roll of 38 Plats from year 2000 and 2 Plats from year 1999. He told me that the Mint supplied them that way, but subsequently I began to think that the roll was cherrypicked. Hannes Tulving was the person who first referred me to Wondercoin for high grade Moderns.

I ordered from him several times, various types of bullion and as he got bigger he stopped soliciting medium-sized business, which really did tick me off since I'd established a customer relationship with him over several years. One of the last orders that I placed with him was for a half bag of 90% dimes, which he was supplying at the time in 2 bags of $250 face. Someone in his shipping dept. made a mistake and shipped me 2 bags of dimes, consisting of 8 $250 face bags. The paperwork said something confusing, like "2 bags". Naturally, I notified them and they arranged for the return shipment of 6 $250 face bags. And nary a "thank-you". Same old abrasive crap. Last time I ordered from him.

92vette

The about.ag website just reported an update. The end has ---perhaps--- finally come.

OPA

<< <i>The about.ag website just reported an update. The end has ---perhaps--- finally come. >>



May he rest in peace....forever

roadrunner

From about.ag website mentioned above:

The Tulving Company is Out of Business
March 3, 2014 3:45PM
As we predicted/requested on Friday, The Tulving Company has gone out of business, as of Monday morning. They are no longer answering their phones, and we have reliable information confirming that they are ceasing operations.

This page will be updated as more information comes in.

There is a lot of information on our old page about The Tulving Company.

We hope to update this page with information about what will happen next. At this point, our best guess is that The Tulving Company will file for bankruptcy. Unfortunately, we believe that there will be little in the way of available assets with which to compensate those whose orders were not fulfilled.
If You Have Unfulfilled Orders
If you have unfulfilled orders, I would recommend checking this page frequently for updates.

If You Had an Order Fulfilled Recently
You may want to check this page occasionally to see if The Tulving Company files for bankruptcy, and if so, to verify that doing so would not affect you.

OnlyGoldIsMoney

A tip of the hat to About.Ag.

That site has been spot on about Tulving since their non-performance issues emerged.

derryb

Secret Service launches probe of O.C. coin dealer Tulving Co.

meluaufeet

Update

derryb

<< <i>Update >>



$15 million in fraud and released with no bond. Must have ties to the big banks.

piecesofme

$15 million in fraud and released with no bond. Must have ties to the big banks.

I wonder if he's hired a bodyguard as I'm sure there's some certain people that would like to have a face to face with him.

ebaytrader

The second conviction of a "major-big-time" bullion / coin dealer this year.

National Gold's Mark Yaffe pleads guilty.

roadrunner

Don't know why anyone in coins who knew about the early 1990's conviction would have done business with him (by mail) on his next go around as a "bullion" dealer. He scammed coin collectors and numismatists long before he did it with bullion.

derryb

<< <i>Don't know why anyone in coins who knew about the early 1990's conviction would have done business with him (by mail) on his next go around as a "bullion" dealer. He scammed coin collectors and numismatists long before he did it with bullion. >>


Me either.