Area Company Sues Lubbock Coin Dealer Ed Chauncey

Lubbock coin dealer Ed Chauncey is being sued by a Post company who claims to be owed over 86 thousand dollars for gold and silver he failed to deliver. GLMG Limited alleges in a lawsuit filed October 5^th that it bought 100,000 dollars worth of gold and silver in January 2006 and an additional 75,000 worth in 2007, but only part of the purchase was delivered.

The company says it reached an agreement with Chauncey in October 2009 that allowed him to pay the remaining debt in a combination of cash, gold and silver in a series of payments. According to the lawsuit, those payments were never made. The suit is addition to complaints from other Chauncey customers about unfulfilled orders totaling several hundred thousand dollars.