Midas Gold Group Review: Trustworthy Precious Metals Investment?
If you’re inquiring about Midas Gold Group’s credibility within the precious metals market, this Midas Gold Group review provides a straightforward analysis. We examine Midas Gold Group’s services, customer feedback, and pricing, casting a critical eye on the factors most vital to investors.
Key Takeaways
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Midas Gold Group is a well-respected precious metals provider since 2010, specializing in Gold IRAs and offering a range of products including gold, silver, platinum, palladium, and rhodium for investment and diversification.
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The company emphasizes personalized service under the direction of industry professionals, yet details on fees and charges are not readily disclosed, prompting potential clients to directly inquire for full transparency.
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Midas Gold Group boasts an A+ BBB rating and high customer satisfaction, providing a fair buyback policy, secure transactions, and partners with Equity Trust for custodian and storage services.
Midas Gold Group Overview
Midas Gold Group, a family legacy, was established in 2010. The company’s roots trace back to the 1970s, when the family was already deeply involved in the precious metals industry. Today, it has emerged as a respected player in the industry, with a reputation built on integrity and trust.
Primarily focused on Gold IRAs, Midas Gold Group offers nationwide secure delivery of precious metals, including precious metals IRA options. It provides a variety of investment opportunities, such as:
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Gold
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Silver
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Platinum
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Palladium
This ensures clients can build strong precious metals portfolios. Offering a wide array of services, Midas Gold Group has carved out a niche for itself as a well-rounded player in the precious metals industry.
The Team Behind Midas Gold Group
Under the leadership of Senior Vice President Kenneth Russo, the Midas Gold Group team contributes a wealth of experience. Kenneth, with over 20 years of experience in hospitality management and operations, also has expertise in selling gold and other precious metals.
Operating with a strong emphasis on client needs, Midas Gold Group relies on its skilled team of professionals. The team includes other seasoned members like Andrew Wenker, Addison Diggs, and Matthew Geiger, all of whom bring their vast knowledge from the precious metals business. They strive to provide personalized service, aligning their actions with the best interests of the client.
Precious Metals Offered by Midas Gold Group
The diverse range of physical precious metals offered by Midas Gold Group caters to a variety of investment needs. The options include:
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Gold
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Silver
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Platinum
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Palladium
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Rhodium
This ensures that investors and collectors alike have plenty of options to choose from.
Gold Investment Options
Midas Gold Group provides diverse gold investment options that span gold bullion, bars, coins, and numismatic coins. For investors looking to include precious metals in their IRAs, the company offers IRA-approved gold coins such as the American Gold Eagle, Proof American Gold Eagle, and other international coins that meet the purity standard of at least 99.5%.
For collectors and investors seeking exclusivity, Midas Gold Group offers unique pre-1933 US Gold Coins. These coins are not just pieces of history, but also carry numismatic value, making them a worthwhile addition to any collection or portfolio.
Silver Investment Options
Midas Gold Group offers a plethora of options for investors looking to diversify their portfolio with silver. The company provides a selection of silver coins and silver rounds sourced from both government and private mints.
Additionally, Midas Gold Group offers silver bullion bars of a minimum purity of 99.9%. These bars come with a distinct serial number from the mint where they were produced. Specific options like the PAMP Silver Kilo Bars are .999 fine cast bars, offering a viable investment opportunity for those interested in silver.
Platinum, Palladium, and Rhodium Investment Options
In addition to conventional gold and silver, Midas Gold Group also deals in other precious metals like platinum, palladium, and rhodium. The company offers platinum bars and coins, including the American Platinum Eagle coin, along with various coins and bars for palladium and rhodium.
These metals can potentially offer higher returns and provide diversification to an investment portfolio. However, it is important to consider that these metals also carry increased volatility and more limited investment options compared to gold and silver.
Gold IRA Services
Specializing in Gold IRAs, Midas Gold Group extends comprehensive services in this field. A Gold IRA is a self-directed individual retirement account that invests in physical gold and other precious metals. It often comes with higher fees than traditional or Roth IRAs that invest solely in stocks, bonds, and mutual funds.
Midas Gold Group offers the following services:
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Assisting clients with new IRA setups or retirement plans
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Facilitating tax-free transfers or rollovers from existing custodians
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Guiding in the selection of insured depositories for the safekeeping of gold
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Collaboration with Equity Trust Company as their recommended IRA custodian
These services strengthen their Gold IRA offerings in collaboration with business bureaus.
Customer Reviews and Ratings
Boasting an A+ rating with the BBB and impressive star ratings on Google for its Phoenix and California locations, Midas Gold Group takes pride in its reputation. Customers have consistently praised the knowledge and expertise of the Midas Gold Group team, describing them as:
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knowledgeable
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kind
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patient
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trustworthy
Despite its many achievements, Midas Gold Group, like any company, has received some customer complaints, particularly about customer service. Yet, the positive feedback far outweighs the negative, painting a generally favorable picture of the company. To get a better understanding, it’s worth checking out midas gold group reviews online.
Fees and Charges
When selecting a precious metals dealer, it’s critical to consider fees and charges. However, Midas Gold Group does not openly disclose these details on their website. Customers are required to contact the company directly for detailed information on fees and charges.
However, it is worth noting that Midas Gold Group does charge midas gold group fees for accounts exceeding $100,000 and for the storage of gold. Potential investors are advised to gain a comprehensive understanding of all costs involved before making a commitment.
Buyback Policy and Selling Process
Midas Gold Group has designed its buyback policy with transparency and fairness in mind. The company allows clients to sell their precious metals back at the prevailing market rate, which is determined based on live 24-hour spot prices for:
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gold
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silver
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platinum
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palladium
The company facilitates a straightforward selling process by offering payment via federally insured wire transfers or checks, ensuring timely and secure transactions. Additionally, Midas Gold Group employs fully-insured global delivery services for the repurchase of precious metals, ensuring the security and reliability of the transactions.
Security and Storage Options
Equity Trust Company is the recommended choice of Midas Gold Group for custodian and storage services. Equity Trust Company offers specialized services such as:
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Facilitating Gold IRA
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Investing in precious metals within an IRA
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Providing secure storage for IRA-held gold, silver, platinum, and palladium coins and bars.
Equity Trust Company ensures the security of precious metals by collaborating with reputable depositories and upholding comprehensive insurance coverage to safeguard investors’ assets from potential theft, loss, or damage. The fees for such services are calculated based on the account value and type, with specific service fees for transactions and monthly fees for digital currency storage.
Comparing Midas Gold Group to Competitors
Midas Gold Group holds its own compared to primary competitors such as:
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Bullion Exchange LLC
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Fisher Precious Metals
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National Gold Group
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Treasure Coast Bullion Group
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Gold and Silver Traders
The company provides competitive prices for gold and silver and has generally positive customer reviews, as well as a good standing with better business bureaus.
However, there are some differences in the buyback policies between Midas Gold Group and other gold IRA companies. For instance, Augusta Precious Metals, a competitor, has historically bought back customers’ gold and silver but is unable to guarantee repurchase due to legal restrictions.
Summary
In conclusion, Midas Gold Group emerges as a reliable veteran-owned precious metals dealer, specializing in Gold IRAs. With a knowledgeable team, diverse precious metal offerings, a transparent buyback policy, and a strong focus on security and storage, the company holds its own amidst its competitors. However, potential investors are advised to do their due diligence, especially regarding the company’s undisclosed fees and charges and mixed customer reviews.
Frequently Asked Questions
What is Midas gold?
Midas Gold Group is a veteran-owned and operated business specializing in Precious Metals and Gold IRA with significant industry experience and expertise.
What is BBB rating?
The BBB rating is based on the information the organization obtains about a business, including complaints received from the public, and assigns a rating from A+ to F. This rating is earned based on the reputation and trust built up by the business (American Windows).
What services does Midas Gold Group provide?
Midas Gold Group specializes in providing services as a gold and precious metals dealer, with a focus on Gold IRAs and physical precious metals. They offer a range of related services for investors.
What is the buyback policy at Midas Gold Group?
Midas Gold Group’s buyback policy allows you to sell back gold, silver, or coins at the current market rate, determined by live 24-hour spot prices for precious metals.
What are the fees and charges at Midas Gold Group?
The fees and charges at Midas Gold Group are not openly disclosed on their website, so it’s best to contact the company directly for detailed information.
