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Old 22.06.2022, 09:26
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Be warned !

This sounds like a scammer comment I know. But read on Ö..

I lived and worked in Zug from 2013 to October 2016.
Earned a decent salary and saved lots, so prior to return to UK I had idea of investing some money in Gold.
I purchased 3 * UBS 50g gold bars, 5 UK sovereignís and 2 * 1 Oz Canadian Maple leaf coins.
I have now sold the 5 sovereigns and 1 Maple leaf coin for a good profit.

Why am I mentioning this?
One of the Maple leaf coins has been detected via two tests at the bullion dealer as a fake.
I have invoices for my gold purchase via UBS Zug and they sold me a fake coin back in September 2016.
Iím now stuck with this coin and nothing I can do about it.
Its my word against UBS, so not worth perusing.
How can I prove its the coin they sold me?
I canít..
Invoice just says ĎGold Maple Leaf 1 ozí Ö
Be warned!

Luckily I purchased the Maple Leaf on the 6th of Sept 2016 and 29th of Sept 2016 so they were from different batches and thus one was good and now sold to a bullion dealer.

Actual loss of approx £980 on this coin is made up by some of profit on other good coin aka £520 profit.

I have purchased gold since 2016 in the uk but only ever sovereigns.
Never a Maple Leaf so UBS was only source of purchase.
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  #2  
Old 22.06.2022, 09:30
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Re: Be warned !

Did you try a different bullion dealer to be certain?
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  #3  
Old 22.06.2022, 09:30
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Re: Be warned !

You don't mention what UBS have said about the fake coin, did you discuss with them and what was their response? Also did you get a second opinion?
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Old 22.06.2022, 09:32
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Re: Be warned !

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Did you try a different bullion dealer to be certain?

I plan to have coin tested again next week.
But Bullion Dealer is a large well known one and testing coins every day.

Fingers crossed Ö.but im now 95% sure the coin is fake.
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Old 22.06.2022, 09:35
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Re: Be warned !

Surely it is worth asking UBS to test and see what their reaction is?
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Old 22.06.2022, 09:35
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Re: Be warned !

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You don't mention what UBS have said about the fake coin, did you discuss with them and what was their response? Also did you get a second opinion?
Is it even worth contacting UBS?
Itís my word against theirs.
Canít prove the actual fake coin came from them,
They could say their ones were good and I purchased this fake elsewhere.

But I guess emailing them is an option.
A Swiss friend said open a fraud case against the,.

But im in uk since 2016 and currently undergoing chemotherapy so Iím not in a fit state to put any energy into this other than have a rant in here.
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Old 22.06.2022, 09:37
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Re: Be warned !

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Surely it is worth asking UBS to test and see what their reaction is?

I think I will Ö.rather than just not bother.

Iím shocked they never tested the coin.

So buyer be aware as they say.
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Old 22.06.2022, 09:38
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Re: Be warned !

Very sorry to hear- hope the treatment will be effective and that you will be on the mend soon.
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Old 22.06.2022, 09:40
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Re: Be warned !

UBS web page Ö.

https://www.ubs.com/ch/en/private/in...fake-gold.html

They mention faked and exactly what bullion dealer said on composition of fake coin.

Grrrrr UBS tests Ö.no they donít.
However web page is dated 2017 and I purchased in 2016.
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  #10  
Old 22.06.2022, 09:49
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Re: Be warned !

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Is it even worth contacting UBS?
It’s my word against theirs.
What a bizzarre thing to say. Obviously you should contact UBS to speak to them about it, I mean they sold you the coin sp why wouldn't you do that and explore all of your options?
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Old 22.06.2022, 10:18
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Re: Be warned !

Not really bizarre.
I will email them and see what they say, but will not hold my breath.

Should have gone into more detail on opening post.

During my stay in Switzerland we managed to save a substantial amount of money. I was sending back to uk £5k to £6 a month.
So we are not skint Ö
Thus the hit is one of those things.
I just want to warn others not to trust UBS like I did.
Iím shocked to be honest.

Also (not looking for sympathy) I have come out of remission for blood cancer and having to visit hospital four times a week.
Fatigued and have chemo brain ÖI put the sugar bowl in the freezer yesterday lol
My wife is very stressed at the moment also, so I donít want to get into a protracted dispute with UBS at the moment for both of our sakes.

My action plan will be to get coin retested - however where it was tested is a major bullion dealer.
Email UBS and ask for an opinion - however itís my word against theirs even with my invoice that does not mention anything unique about the coin not even the year it was mintedÖsorry faked (2002)..wel fake date on it.

I will probably end taking the loss on the nose and move on.

However donít trust buying Gold from UBS is my message or get it tested as soon as you leave counter.
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Old 22.06.2022, 10:26
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Re: Be warned

Itís like your granny giving you a fake bank note in a birthday card.
I trusted UBS as my bank while in Zug.

My error it seems.

However I will email them and give them a right to reply to my allegation.
Even thou I know 100% they sold it to me and 90% sure it;s a fake.

A Gold Maple Leaf 1 Oz coin is not something you buy every week or year.
The only two I have/had is from them.

Yes I have purchased sovereigns since as an investment but never a Maple Lead or any other form of gold.
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Old 22.06.2022, 10:33
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Re: Be warned !

True storyÖ.
1984 and I borrowed £200 from my grandmother.
Next week I went to Midland Bank (north London Edmonton) and I withdrew £200 to pay here back.
Cashed a cheque over counter.
I gave her money on a Thursday and she went shopping Friday and paid £200 into same Midland bank branch.
She phoned me Friday crying that she had paid in a fake £20 note and been hauled into managers office and read the riot act. This a 78 year old lady who has banked with them for 50 years. He threatened to call police but gave her back the note and told nerf to go.
I didnít sleep a wink that weekend due to rage.
First thing Monday (took a day off work) I joined queue for bank to open.
I told everyone in queue what they had did.
At counter I told story and asked him to contact the police.
Cashier went off to see manager , came back and swapped note.
I said I will have it pound coins please.
Wrote to manager and demanded an apology that we never got.
Moved accounts as soon as we could also.
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Old 22.06.2022, 10:35
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Re: Be warned !

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Not really bizarre.
I will email them and see what they say, but will not hold my breath.

Should have gone into more detail on opening post.

During my stay in Switzerland we managed to save a substantial amount of money. I was sending back to uk £5k to £6 a month.
So we are not skint …
Thus the hit is one of those things.
I just want to warn others not to trust UBS like I did.
I’m shocked to be honest.

Also (not looking for sympathy) I have come out of remission for blood cancer and having to visit hospital four times a week.
Fatigued and have chemo brain …I put the sugar bowl in the freezer yesterday lol
My wife is very stressed at the moment also, so I don’t want to get into a protracted dispute with UBS at the moment for both of our sakes.

My action plan will be to get coin retested - however where it was tested is a major bullion dealer.
Email UBS and ask for an opinion - however it’s my word against theirs even with my invoice that does not mention anything unique about the coin not even the year it was minted…sorry faked (2002)..wel fake date on it.

I will probably end taking the loss on the nose and move on.

However don’t trust buying Gold from UBS is my message or get it tested as soon as you leave counter.
You are asking people not to trust UBS without you having contacted them to confirm if they will resolve the situation in your favour or not. Contact them, see what they say, and if they say it's not their problem then you would be justified with the warning. There is at least a chance they will ask to test it themselves to verify and replace.

Don't just email them, call them and explain fully or even go to a branch where they deal with this stuff.
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Old 22.06.2022, 10:43
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Re: Be warned !

It is always possible they had a bad batch so know of the problem.
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Old 22.06.2022, 10:43
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Re: Be warned !

It's unlikely that one 'random fake' went via UBS in 2016. I am sure if you report it you will discover either a) will compensate you as the cost to their reputation is worse than the cost of the coin b) inform you that they are aware and if you can prove you bought on xyz date there is a procedure for this.
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Old 22.06.2022, 12:00
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Re: Be warned !

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Is it even worth contacting UBS?
Itís my word against theirs.
Canít prove the actual fake coin came from them,
They could say their ones were good and I purchased this fake elsewhere.

But I guess emailing them is an option.
A Swiss friend said open a fraud case against the,.

But im in uk since 2016 and currently undergoing chemotherapy so Iím not in a fit state to put any energy into this other than have a rant in here.
Let me give you a warning - making unsubstantiated allegations against a named company is dumb and can prove to be expensive!

You have no evidence that UBS sold you a fake coin and frankly I very much doubt they did. Fake coins are part and parcel of their business and they have procedures in place to ensure they donít buy fake coins. It would not be worth their while to sell the odd fake coin.

From what you have said, the coin was not always in your possession - you send it for valuation for example. My guess is that the dealer mistakenly bought a fake coin in the passed and swapped it for your coin during the valuation. But that is just my guess.
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Old 22.06.2022, 12:42
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Re: Be warned !

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Let me give you a warning - making unsubstantiated allegations against a named company is dumb and can prove to be expensive!

You have no evidence that UBS sold you a fake coin and frankly I very much doubt they did. Fake coins are part and parcel of their business and they have procedures in place to ensure they donít buy fake coins. It would not be worth their while to sell the odd fake coin.

From what you have said, the coin was not always in your possession - you send it for valuation for example. My guess is that the dealer mistakenly bought a fake coin in the passed and swapped it for your coin during the valuation. But that is just my guess.
So you are calling me a liar?
I knew one person would, you always get the trolls.

Why would I a retired person living in uk since 2016 want to make random allegations against a bank I have not used since closing account Easter 2017?

As I have said imhzve written off rhe cost if coin.
I will contact them but donít expect any refund.
I have made profits recently on equities and other investments and have been selling 30% of my gold holding (90% in uk sovereigns).

The other Maple Leaf is ok and sold as well as some of the sovereigns they sold me.

The only place I purchased Maple Leaf coins was UBS.
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Old 22.06.2022, 12:45
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Re:

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Let me give you a warning - making unsubstantiated allegations against a named company is dumb and can prove to be expensive!

You have no evidence that UBS sold you a fake coin and frankly I very much doubt they did. Fake coins are part and parcel of their business and they have procedures in place to ensure they donít buy fake coins. It would not be worth their while to sell the odd fake coin.

From what you have said, the coin was not always in your possession - you send it for valuation for example. My guess is that the dealer mistakenly bought a fake coin in the passed and swapped it for your coin during the valuation. But that is just my guess.


I have nothing to hide.
They sold me the fake Maple Leaf in 2016.

They are welcome to contact me.

I will email them.
Not going to add to lose with overseas phone call costs.
Even returning it (unless for a refund) will cost probably £30 in postage Ömore cost Grrrrrr
And something where Iím the victim.
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Old 22.06.2022, 12:47
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Re:

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I have nothing to hide.
They sold me the fake Maple Leaf in 2016.

They are welcome to contact me.

I will email them.
Not going to add to lose with overseas phone call costs.
Even returning it (unless for a refund) will cost probably £30 in postage Ömore cost Grrrrrr
And something where Iím the victim.
Rubbish Ö
The coin was not swapped.
This a huge company who tested the coin.
Also the coi I sent has a mark and return coin is a 100% match.
I take photos of coins prior to posting.


But feel free to defend UBS and victim blame if you want.
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