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If you purchased coins from any of the following coin companies, you may be entitled to compensation. Please contact us for more information about your legal rights.

• Universal Coin & Bullion
• 1st Capital Reserve
• 1st American Reserve
• 1st National Reserve
• 1st Fidelity Reserve

In a lawsuit filed in Beaumont, Texas, and subsequently settled out of court, there were allegations that the coin companies improperly promoted, marketed, advertised and sold precious metal coins to customers. 

The Petition asserted several complaints and causes of action against the coin companies, including negligence, negligent misrepresentation, fraud, and violation of the Texas Deceptive Trade and Practices Act.

Some former customers of these companies allege in lawsuits that the coin companies made false representations to encourage the customers to purchase high-priced precious metal coins.  These customers claim, among other things, that the coin companies improperly assessed the value of coins and made misleading statements concerning the origin and investment value of these coins.

At a court hearing on August 31, 2006, a former top salesperson at Universal Coin & Bullion testified that he and other company salespersons were trained to “pitch heat” (i.e. fabricate stories) to current and potential customers regarding the coins.

Additionally, there has been testimony of credit card abuse and sending coins to customers that they did not purchase. 

If you have lost money in precious metal coins purchased from Universal Coin & Bullion, 1st Capital Reserve, 1st American Reserve, 1st National Reserve, or 1st Fidelity Reserve, you may be entitled to compensation.

For more information on lawsuits against these coin companies, please complete our online contact form.