Phillip W.
Predatory Practices
I was felt I was misled of the cost to buy gold through them from my IRA to put into a Gold IRA. The cost was significantly higher than what I understood it to be. I also told them I wanted gold bullion but instead they purchased me gold coins. It is my understanding there is a higher cost for coins verses Gold Bullion. After about a month I was finally able to see what they had purchased and deposited for me. Therefore I was very upset about the cost I paid for the coins. When I inquired with Merchant Gold I was told the amount the depository told me I had was not correct. I researched the value of the coins they purchased for me (which I did not ask for,I wanted Bullion instead). The value was as the depository reflected. I reached out to other highly rated Gold companies and was told the value the IRA depository showed was the actual value. That there are some companies that have in their lengthy contracts that they can charge a spread amounted up to 50%. I was surprised by the cost and that I was not told of the be cost of the purchase prior to them finally completing the purchase. I had difficulty in getting responses form them. I thought I had done my due diligence but apparently not well enough. If you are considering moving funds from your IRA to a Gold IRA I recommend you proceed with extreme caution.