Hello and welcome to my 'Is Capital Gold Group A Scam?' article.
Essentially, when it comes to precious metals, a reliable dealer is important. Hence, you must find one before investing. This ‘Is Capital Gold Group A Scam?’ will help you in asserting if this company is legit
Fortunately, there are many dealers in the market nowadays. And although they assert that they have outstanding work ethics, it is still crucial to learn more about them. What’s more, scams are still abundant in this industry.
Without further ado, let us start this ‘Is Capital Gold Group A Scam?’ article.
Capital Gold Group Review Quick Summary
Name: Capital Gold Group
Founder: Jonathan Rose
Rating: 1/5 (Bankrupt)
What is Capital Gold Group?
This California-based firm is a precious metals company started by Jonathan Rose in 2000. However, it was in 2003 when they went online and started doing business.
Admirably, this whole business came from ideas while he was in his living room. Sadly, things went up and down with this company. In 2019, they announced bankruptcy.
But before that, there were already signs of the company going in circles. As an example, their website became inaccessible and ultimately downed.
After that, they made a shift to another website, www.goldira.com. Well, at least that was in their business profiles in LinkedIn.
Unfortunately, their items started garnering more and more bad reviews as time went by. Due to this, declaration of bankruptcy was inevitable.
Now, we are completely sure they made a transition and is now called Gold IRA. Well, with all this ruckus and re-branding, how did it affect their product and services?
Products and Services
Furthermore, some of this can be used in a self-directed IRA. But, during their whole tenure, they did not become an IRA custodian.
Nevertheless, they provide advices and referrals to their partner custodians. In their own way, they really tried to stay afloat and aid their clients.
How Does It Work?
Most precious metals and IRA company requires contact and normal business actions. As such, Capital Gold Group also manage requirements and procedures to facilitate transactions.
Before, they would have a section that is solely for the display of precious metals. Moreover, these coins and bullions are really enticing and of great value.
However, item description and its prices are missing. Although, one can argue if they can really be used for investing in gold IRA.
Hence, the only assumption here is that you need to visit their physical store or contact them. As a note, you can visit their new website and create an account there.
Personally, I will visit their website and will update this article if any changes are up.
Prices and Fees
Frankly speaking, Capital Gold Group did not show any essential information regarding their prices and fees. To cite, their website only has their metals offerings and you will be advised to call them.
On the other hand, their IRA services’ fees are also undisclosed. Nevertheless, this is understandable since fees will differ with every IRA custodian. Regardless, these are also but inaccessible since their closing.
Customer Ratings and Reviews
To illustrate, the ratings below shows how Capital Gold Group did poorly during their business days.
- Better Business Bureau – F rating and not accredited
- TrustPilot – 3.2 out of 5 rating based on 11 reviews
- TrustLink – 4.5 out of 5 ratings based on 206 reviews
- RipOff – 10 reports
Based on these, one can tell that they were not clicking on this industry. Additionally, to have reviews so bad that they are undisclosed by other websites speaks on how negative they were viewed.
Pros and Cons
- Precious metals offerings
- No price information on its website
- Numerous complaints and negative reviews
- Not an IRA custodian
- Website is not user-friendly
- Not accredited on some organizations
- Announced bankruptcy
For the verdict, Capital Gold Group started as a legitimate and optimistic bullion dealer. As mentioned, they devised ways on how to attract their investors and clients.
But, optimism and resiliency can only take you so far. After some time, they started to receive piles upon piles of complaints and negative reviews. Not only that, scam reports about them started to grow.
In my opinion, this started to further influence the sloppiness and indifference of the company. With these reports, I am certain that they will find a hard time dealing with clients even with their re-branding.
As such, I suggest conducting business with a reputable and top-rated gold IRA firm. Goldco, my top recommended choice, will always be there every step of the way.
With that, I extend my gratitude and appreciation to you for reading this 'Is Capital Gold Group A Scam?' article. For comments and suggestions, do leave them in the appropriate section below.