Capital Gold Group Review: BBB, Scambook, Trustlink Ratings
Gold dealers have been popping up all over the country. Which means that investors who currently hold an IRA account can use their money as they please – and a lot of investors have turned to gold investments.
Smart investors however, are keeping control of their financial future while also having a fund available for retirement. These gold dealers (Gold IRA companies) that have sprouted up offer their own financial service, helping many investors rollover their existing 401k into a gold backed IRA account.
This is where financial institutions like Capital Gold Group come into play. They help investors choose wise investments like gold coins, bullion, silver, palladium and other tangible precious metals investments. Unfortunately, in a market where there is a lot of money to be made, companies like Capital Gold Group prey on fearful investors.
Furthermore, a lot of financial companies like Capital Gold Group, don’t have the most reputable backgrounds. With in depth research and credible sources to go off of, we’ve compiled this Capital Gold Group review to ensure you’re getting the truth behind the curtain.
Capital Gold Group BBB (Better Business Bureau Review)
0 complaints closed with BBB in last 3 years | 0 closed in last 12 months
One of the first websites we conducted our research at was the Better Business Bureau. The BBB is considered the grandfather of grading companies, while holding them to the highest standards. Financial institutions in particular is specific category in particular that the BBB keeps a watchful eye on.
To see that Capital Gold Group has an A+ rating with the Better Business Bureau, tells us that their rating is well deserved. The BBB website also allows you to check to see if the company has complaints. We however did not find any complaints on the Better Business Bureau website in regards to Capital Gold Group.
This is a good and a bad thing. Typically companies who have been in business for years as claimed have some customer reviews, we however, found none. This should make any investor pause and conduct more research.
Scambook
http://www.scambook.com/company/view/111692/Capital-Gold-Group-Inc
Scambook is another consumer review site, set up to help out consumers make better choices based on other consumers experiences. Like the Better Business Bureau, Scambook ranks each company with a rating.
One unfortunate case that we stumbled across features a client who purchased $5,000 worth of precious metals from Capital Gold Group. Upon receiving their purchase the customer wanted to make sure that the coins purchased were of the same or greater value that they paid.
When they went to go have a specialist review their coins, they found that their coins were actually worth less than half of what they paid – around $2,800 total. When the consumer complained to the company, they were told that the coins weren’t valued as much before but should be now. Talk about bad business.
The Complaints Board
http://www.complaintsboard.com/complaints/capital-gold-group-where-is-my-coin-c659162.html
Another complaint that we stumbled upon was featured on another trusted consumer review site called The Complaints Board. The case focuses on a customer who invested $1,732 in precious metals and never received their order.
Furthermore, when the customer called Capital Gold Group to inquire about their purchased goods, their phone call was never answered. What kind of Gold IRA Company would do business with someone and then not deliver on their promise?
In our eyes, if you’re going to be investing that type of money or say were rolling over your 401k into a Gold IRA, would you want that kind of service? Our guess is no. You would want a company you can trust.
The customer seems to feel the exact same way, as they’ve filed a complaint with the BBB and have even considered taking legal action if their issue is not resolved.
Business Consumer Alliance
Total Complaints: 13
The Business Consumer Alliance is another trusted review site. They offer comprehensive reviews of each company dealt with and hold companies to a high standard.
Unfortunately, the Capital Gold Group has received a total of 13 complaints and only has 1 positive review. We’re no mathematician but this isn’t a favorable odd to have, especially if you’re precious metals company.
Trustlink Review
Compared to the likes of the Better Business Bureau and Business Consumer Alliance, Trustlink is also one of the most trusted websites dedicated to protecting consumers in every industry. As with other trusted review websites, Trustlink grades companies based on consumer submitted reviews. This gives their grading scale a sense of honesty and integrity that sets them apart.
Of course with every review, you’ll have your happy and upset clients so reviews can vary from praise to unpleasant comments. In regards to the Capital Gold Group, the true nature has been shown through a series of negative reviews from unhappy clients who have done business with the IRA Company. As a fair warning, we advise that the reviews you’re about to read will make you question the integrity and overall nature of the company.
One customer says he orderd 40 Morgan Silver Dollars. When he spoke with a Capital Gold Group representative, he was told that the shipping (with insurance) would be an additional $100 on top of his order. Knowing that he could get free shipping from another company, the associate then said he would speak to his boss about striking a better deal.
When the associate returned to the phone, he told the gentlemen that he could give him $25 shipping along with a complimentary Silver Eagle coin but that he would have to wire the money overnight to ensure the payment was processed immediately. The client went ahead and spent just over $2,000 and never heard from Capital Gold Group again. No emails, phone calls or even a receipt confirming his payment.
10 days after speaking with the Capital Gold Group representative, the man became frustrated and took action. Upon calling the company and complaining, he was told that the silver coins he received were in such poor condition that the letters were barely legible.
Finally, after asking for a refund it was refused, and the representative went on to say “what did you expect with an old coin,” in regards to the condition. Not only did Capital Gold group take advantage of this clients money, they also took advantage of his lack of knowledge and will charge excessive shipping costs.
The consumer then recommends that “beware” and do your research and do business elsewhere instead.
It’s Not So Bad
While we have found some grit on the Capital Gold Group, it’s really not all that bad. There are plenty of satisfied customers who have done business with CGC. They’ve had nothing but great things to say and even offer plenty of praise. Clients have had great success rolling their 401k’s over to Gold backed IRAs and many even believe that this is a great company to secure your financial future with. Other customer reviews suggest that they company even has a welcoming staff who is understanding, reliable, and helpful.
True Nature Revealed
Whenever the amount of negative reviews out weigh positive ones, there is definitely a dark side of the company being revealed. We highly recommend reviewing more information before making a final investment decision. Speaking to highly reputable gold dealers, financial experts, or researching other companies is definitely a plus. If for whatever reason you feel that something doesn’t feel right or add up, the company should be avoided and another company considered instead.