Morgan Gold and Merit Gold & Silver Close Their Doors – Regal Assets To Blame?

Two more big precious metals dealers are feeling the pressure of competition in the hot new retirement industry. Since the IRS has now approved precious metals as a tax-free asset to be held in an Individual Retirement Account (IRA), savvy retirement investors are now making precious metals like gold and silver a large part of their long-term portfolio as prices are projected to skyrocket even in the near future.

Regal Assets, the dominant force in the industry with its spotless reputation and award-winning customer service, has been named Inc 500’s 20th faster growing financial services company. Since then, many of the major gold and silver dealers have been experience quite a strain on their bottom line as confirmed cases of fraud and exorbitantly high markups have surfaced and official news and government reports are evident all over the web.

Let’s first take a look at what’s causing such a stir in the industry:

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Morgan Gold’s Website Disappears From The Web

About 30 days ago (prior to this post) upon visiting Morgan Gold’s website, it returned nothing but a “File Not Found” error and still appears to do so today. This mysterious disappearance of such a major player in the industry was investigated by SACDC, but no known cases of fraud were detected.

However, there were several major instances of consumer complaints against the company that went unresolved. This lead to adverse ratings on major review sites like the Better Business Bureau, Business Consumer Alliance, and others.

For a detailed investigation and review of Morgan Gold, read our review here.

Merit Gold & Silver “Not Accepting Orders And … Closing Operation”

Due to the solid growth and customer approval of Regal Assets, Birch Gold, and other ethical precious metals dealers, Merit Gold has recently been forced to state on their website that they will be shutting down their operation. The homepage of their website now says:

“WE ARE NO LONGER ACCEPTING ORDERS AND ARE IN THE PROCESS OF CLOSING OUR OPERATION”

It was a well-known fact to SACDC that Merit Gold & Silver had been charged with over $10 million in precious metals fraud (read our exclusive review). Their fraudulent business practices are not unique in the industry. It is quite common for disreputable gold/silver IRA companies to promote numismatics at an extremely high markup leading to the client’s retirement assets to virtually become worthless over night. These types of companies prey on the elderly and uninformed consumer.

Consumer Advocates Aligned & Reveal A Bright Future

 

To avoid scams and fraud when rolling over into a gold/silver IRA, it is advised by the leading consumer information organizations to use a well-established, trusted, and reputable company like Regal Assets (read our exclusive review here or compare available options).

Not only does Regal Assets have a sterling reputation with the BBB (A+), TrustLink (5 stars from 542 reviews and counting), and BCA (as detailed in our full review), they have been featured in Forbes magazine, Inc 500 magazine, Bloomberg Businessweek, MarketWatch, Reuters, The Street, The Reporter, and others.

Their established and ethical business practices has drawn the attention of the media as apparently it is normally few and far between in the new and rapidly growing industry of precious metals retirement investing.

In recent news regard this stand-up company, Regal Assets now offers off-shore gold storage in Singapore to those investors who simply want options. With tax benefits and cutting-edge security measures, who can blame them?

In even more recent news, they’ve now also opened their doors to investors in the UK who seek to invest in a gold SIPP plan (which is a pension plan very similar to the US’s gold IRA). If you’re in the UK, you can visit RegalAssets.co.uk here or US investors click here.

Offshore Gold Storage: Benefits Of Storing Gold & Silver In Singapore

Singapore City Skyline 4

Storing your gold and silver in a safety vault may be handy and convenient, but as capital control is increasing every day, you may want to consider buying and storing your gold and silver abroad, for unrestricted transfer and selling in the future. Offshore gold storage prevents gold confiscation and keeps your gold’s selling price stable and as high as it can be. Storing gold in a safe, stable jurisdiction out of your home government’s reach is very advantageous, especially if you’re living in a bankrupt nation. With the right storage partner, you might have just protected your gold and silver from confiscation and devaluation. The value of your metals may even increase overtime because it is not affected by inflation.

“What Companies Allow You To Choose Precious Metals Storage In Either The US or Singapore?” – Click Here

For the past years, Singapore has rapidly become one of the world’s best place for gold and silver investors and entrepreneurs to safely invest their precious metals and build their own businesses. Why is this so? That’s because it’s just so easy. Regulation is minimal, corruption is almost non-existent in their government, and the tax structure is very friendly to foreign businesses and investors. The growth of Singapore’s precious metals industry and its reputation as one of the safest countries in the world makes it a great location to buy and store precious metals.

Why Store Your Gold Or Silver In Singapore?

Stack of golden ingots in bank vaultThis positive attributes made Singapore offshore gold storage in Singapore one of the safest and most convenient in the world. Safe because the criminal rate in Singapore is nearly zero. Convenient because you can just withdraw and deposit your gold and silver with just a short process. Transaction is easy and effortless. According to the Sovereign Man blog, airport customs doesn’t even require to know as much information about your precious metals as in other countries when they pass through the airport. Authorities in Singapore view gold and silver as commodities and not as a currency that can be reported, so there are presumably lower reporting requirements when bringing your gold with you. Also, in Singapore, gold storage is free from the government’s interference because  they understand why people do the things they do and why capital reacts the way it does.

Another advantage of storing gold in Singapore is that gold and silver are now tax-free. As of October, 2012, the seven percent national sales tax that is in the past given to sellers and buyers of gold and silvers was waivered by the Singaporean government. This means that gold taxes on investment grade bullion are now non-existent, as well as most of the silver taxes. Gold Maple Leafs, Buffalo, Philharmonics, gold bars, as well as most silver products (not all precious metals are IRS approved – check here) are now exempt from tax when buying or selling. Some companies offer the ability to store gold in Singapore to save on taxes.

Your accounts in Singapore gold vaults will also be extremely private. Singapore does not tax its citizens and companies on foreign earnings on a worldwide basis; therefore it pays little attention to their companies’ bank accounts in foreign lands. The motivation for the Singaporean authorities to disclose bank accounts in their domain is, therefore, non-existent. They forbid other countries to launch ‘fishing expeditions’ into account holders’ details in Singapore because they believe that foreign authorities do have apparent links and valid reasons that will be interpreted as suspected criminal activity to want to investigate someone’s account holdings.

For those who are planning to build an individual retirement account, you might want to choose to build a gold IRA account or a silver IRA account in Singapore. Compared to having a regular retirement plan in the United States, maybe building a gold and silver individual retirement account is much safer. You may use your precious metals as a long-term hedge against inflation. Your gold and silver will surely not lose its value, unlike paper currency. Best of all, the value of your gold or silver will increase overtime.

A lot of people are already storing their gold and silver in Singapore. The tiny country contains approximately 1-2% of the world’s physical bullion. Singapore also holds the largest group of private banking assets in Asia, with US$516 billion in 2011.

Gold Storage Companies

Prices are already incredibly competitive, with ultra-low premiums and very reasonable and affordable storage fees when you use the top recommendation.

There are many gold storage companies fighting for your dollar, but there are few that offer a stellar reputation, award-wining customer service, world-class security (Brinks) and worry-free insurance, and that also offer all of this with the option of storing your gold in the US or in Singapore.

Visit Regal Assets Website

Why We Use Regal Assets For Gold Storage

  • A+ rating with the Better Business Bureau
  • 5-star TrustLink rating
  • Zero customer complaints
  • Award-winning customer service (their experts know the market and are always ready to help us without obligation)
  • Fastest growing precious metals services company (ranked Inc. 500 Magazine’s #20)
  • Buy-Back-At-Spot-Price Guarantee (we can fully liquidate all or part of our assets at anytime and get the best price available)
  • Paperless, hassle free ordering
  • Receive your shipment (at home or at your chosen gold storage facility) within 7 business day (or get a free, valuable gift, such as a Silver Eagle coin)
  • No-commitment funds transfer for gold IRAs (after a rollover, buy gold or silver when we want or transfer our money right back out without penalties/fees)
  • Lowest fees in the industry without high-pressured, deceptive sales tactics (no one was forcing overpriced numismatics on us when we simply wanted bullion)

Visit Regal Assets Website or talk to Charles at 1-866-906-3023.

If you want, you can get their free gold IRA investing kit. We got ours and it really just helped reinforce our thoughts on why to buy gold, but the kit is very helpful and of high quality. Just visit the site and fill out the form to get your kit for free or mention it when you call Charles and his team.

10 Money Saving Lessons From Senior Citizens

As the baby boomer generation approaches retirement, it’s worth it to take the time to determine how today’s senior citizens have become so financially successful. After all, according to MarketingCharts.com, boomers control some 70% of all the disposable income in the United States. What are their secrets for savings?
1. Put Money Away For The Future Seniors who live on a fixed income know the value of saving: pay yourself first and you’ll find that no paycheck is ever wasted. There’s no certain number about how much you should save each week or month, but The Nest recommends putting away ten percent.
2. Find Cheap (or Free) Alternatives Look around for ways to eliminate the dollar-heavy needs of your life. One example: if you dread the daily commute and the gasoline associated with it, ditch rush-hour traffic and ride a no-gas required bike; you’ll not only be saving money, but according to the New York Daily News, you’ll be much happier.
3. Think About Renting Rather Than Owning AARP reports that it’s often a better idea for seniors to rent rather than own in retirement. The same principles — costs of maintenance, time spent in the area — apply to those who aren’t retired.
4. Look For Hobbies That Make, Rather Than Spend, Money You may often see seniors selling custom-made goods at art and crafts fairs, because they know it’s better to find a hobby that pays rather than sink money into your free time. A hobby like breeding pets or collecting valuables can be capable of netting a big return on the investment — as opposed to, say, a motorcycle that only depreciates in value.
5. Wait To Buy What You Want Patience is learned over a lifetime, with seniors having long since realized the economic virtues of waiting to buy. Airline tickets, for instance, can be much more expensive if purchased well ahead of time, reports Quartz, and can be snagged on the cheap as the date approaches.
6. Save Early To Get Compound Interest Seniors who started investing early in their lives reap the benefits in old age. A Business Insider chart illustrates the stark difference: investing $5000 a year will be worth over one million if started at age 25, but only half a million if started at age 35.
7. Use Rewards Credit Cards Instead of Cash Seniors carry more credit card debt, reports Opposing Views, but that’s not necessarily a bad thing. Provided that you pay off your debt in full each month, there’s no advantage to cash over credit cards. Credit cards not only allow you to better track your spending, but offer rewards as well.
8. Buy In Bulk Visit a grocery store and you’ll see prices like one toothbrush available for $1, four for $2.50, and ten for $4. Buying in bulk often offers more value per unit and ensures you won’t need to run out and buy more any time soon — saving on time and gas as well as groceries.
9. Go Green If you think seniors are reluctant to embrace new things, think again. Treehugger reports that more seniors are interested in environmental changes and issues. Basic green changes to your life like carpooling and solar fixtures can save as much as thousands of dollars in energy and utility bills.
10. Never Pay For What You Can Do Yourself
Deadspin infographic about the cost of drinks at a bar captures the markup of the service industry. Whether it’s eating at a restaurant or having your oil changed at a garage, paying others to do what you can do yourself is never the way to save money.

Author Bio:
Audrey Clark, the author of this post, happens to be a talented blogger who covers a wide selection of interests ranging from jobs and finance to things like travel and leisure, as well as everything in-between. When Audrey isn’t blogging, she is always on the lookout for her next adventure. Connect with Audrey on Twitter and Google+.