Man furious after Royal Mail lose £10k gold bar and offer him just £750 compensation

"I don't want compensation. I want my gold back."

Rob Hobson bought a 100g (0.1kg) gold Britannia bar from his dad's inheritance and had agreed a buyback offer from the Royal Mint after it was valued at £9,731.

But despite sending it special delivery and with extra insurance, the bar has never arrived at its destination.

Royal Mail has launched an investigation and Devon and Cornwall Police said it is carrying out inquiries after it was reported to them.

But Rob, 65, of Torquay, Devon, said: "Nearly 10k gone missing, which has a massive impact on my future.

"I put my trust in the Royal Mail. The terms I sent it surely says it all...SP Guaranteed next day!

"I don't want compensation. I want my gold back. Someone knows where it is."

Rob said he has since been told the 'extra insurance' he bought with the special delivery had a 'maximum compensation of £750.

He added: "I bought a gold bar using money from my dad's inheritance and with the price of gold being so high I decided to sell.

"The proceeds were being used to put towards my pension. I have 11 months to go and was looking towards that time.

"I bought the gold from the Royal Mint and contacted them for resale and they agreed a buy back estimated value of £9730

"I sent forms including postage label and buy back reference number."

Rob said he posted it on the 15th October under what was described as Royal Mail 'gold standard' Special Delivery Guaranteed next day by 1pm.

He added: "I paid for additional insurance cover, including consequential loss up to £10k and started tracking my parcel using the reference number.

"It showed arriving at Exeter from Torquay and being processed then out to Romford at 8.21. That status didn't change over the weekend."

Rob said he then contacted Royal Mint and they said not received the item and after finally reaching Royal Mail he got an "escalated incident call back" to say saying the item was lost and he would have to put a claim in.

He added: "An email arrived with link to claim form and that's it from them.

"I decided to go to the Exeter sort office and spoke to two managers who were horrified and said it can't have disappeared but had.

"They could see it being scanned through their system and then into a sealed bag along with other parcels.

"However it seems my parcel never arrived at London despite all the other parcels in that bag did.

"The only way it could have disappeared was if someone intervened.

"They promised to get back to me but didn't. I was told that an internal investigation would take place.

"Part way through filling in the form, a message came up to say maximum claim was £750 and they would take 30 days to process.

"I've heard nothing since and have also reported a crime to the police."

Rob also responded to "I've read some people say I must be stupid to send by Royal Mail. With hindsight I think I was naive to trust them. I velieved they could be trusted and Special Delivery parcels were scanned all the way with employees under CCTV."

Royal Mail said it was investigating and would be in direct contact with Mr Hobson.

It added it took the safety and security of all items in its care extremely seriously.