Beth F.
I rolled a traditional IRA to a Precious Metals IRA
Update: I have received a call from RRS to provide me with the information that I requested and they honored that request. I appreciate the transparency they shared with me on the fees associated with the rollover to the precious metals IRA and they appeared reasonable. It was also communicated that RRS would purchase my existing metals for an increase over my purchase that satisfied me. I had an extensive conversation with Tony and he was extremely helpful and further educated me on what future rollovers would look like for me. I will consider rolling over another $ amount to a precious metals with RRS in the future. Original Post: I rolled a traditional IRA to a precious metals IRA with Red Rock Secured. My initial experience was positive as I worked with Jeff Ward and he is a pleasant person, but he is basically a sales rep, his job is to convince you the need to invest in gold/silver. All was fine until I cashed out my coins and received them with a market value of less than my original purchase. I was considering another precious metals IRA purchase and called Jeff and asked him two things. One - what would the fee be for another precious metals IRA for a specific $ amount and how much would RRS buy my current metals back for? He told me he would call me back but never did. Come to find out through some research that most of these companies are charging high fees to covert your standard IRA to a precious metals IRA. It’s important for these types of companies to be transparent with their fee structure and how these precious metals IRAs work. Trying to sell them on the open market will only lose you money. That information was not originally communicated.