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:
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.