Investing in precious metals is for some the best way to secure their finances for the future. As the cost of gold, silver, platinum and other metals holds steady through economic crashes and is much safer than other investments it is no wonder this is the case. One of the problems with investing in precious metals is knowing which gold IRA Company is the best, one of which is Rosland Capital.
In this Rosland Capital review we will be looking at the company, how easy it is to buy from them and much more.
Who are Rosland Capital?
Rosland Capital or Rosland Capital LLC gold dealers were first founded in 2008 in Santa Monica, California. They are a trading company that specialises in precious metals including platinum, gold, silver, palladium and others. In addition to being a trading company for these metals they also offer assistance to people looking for gold IRA investments.
Buying Precious Metals
If you are looking to buy gold coins, invest in platinum or palladium you might think that you are in luck with this company. Unfortunately on closer inspection it turns out that you will probably have difficulty in purchasing anything other than gold.
In the catalogue supplied by the company you will find a large list of metals available including those mentioned (gold, silver, palladium and platinum) and several more. When we tried to buy from them we found that there was only gold available which is not what we expected from a company with such an extensive product list.
You will also see that the catalogue features gold and silver coins, bullion, bars and numismatics. When we enquired about bars we were informed that there were only numismatic coins available at that time. So if you are looking for anything other than gold or numismatic coins you are out of luck.
Storing Precious Metals
In accordance with the law if you are buying precious metals for an IRA you are not allowed to have possession of it without paying taxes. With this in mind it is vital that any precious metals that are bought for this purpose must be stored within inventories approved by the IRS or with a third party custodian. All of this is fine so far, until you discover that Rosland tend to store metals in a non-segregated way. In other words if you buy gold or silver from Rosland Capital, they could be stored with gold belonging to someone else.
So if you are looking for segregated storage which is preferred by most people you won’t find it here.
Rosland Capital BBB
The BBB or Better Business Bureau gives Rosland Capital an A rating, while the Business Consumer Alliance gives them an AAA rating. We found that these ratings were a little strange given that the BBB has 7 complaints listed against the company and the BCA had 8 listed.
A lot of these complaints stemmed from the fact that the business address was not valid which undermined the confidence of buyers significantly.
When you are dealing with any company you want to know that the customer service is excellent, especially if you are going to be investing money. While we did find some positives such as employees helping buyers with difficulties, however we found more negatives. These included:
- Customer service reps were highlighted for talking in a rude way to customers.
- Posting information about precious metals for sale in a catalogue which were not available at any time thus misinforming people.
- Pushy advertising during phone calls.
- Problems with metals not being delivered on time or not at all.
Rosland Capital Complaints
As we were investigating the company we found that there were a few scams reported. These mainly involved metals being advertised that were not available, leading to a bait and switch feeling with clients. Other complaints include:
- 20% commission charges on gold which is a huge mark up. In fact many people thought that this rip off was one step too far and reported them for it.
- Deliveries of gold, silver or other metals not turning up on time or at all in some cases.
- Poor customer service.
- The address given by the company was not the correct one.
- They offer a “free safe” or at least they claim it is free. This is clearly just another scam that involves adding to the price first so they can offer something that the call “free” which is a slight variation of the marked up to mark down scams that are routine. (Refer: http://open.salon.com/blog/zacherydtaylor/2012/08/02/media_scams_rosland_capital_goldline_merit_financial)
Would I buy from Rosland Capital?
In short, no I would not buy from Rosland Capital, because I want to know that my money is going to be secure in the form of a precious metal. Buying from them means the choice is limited, you might not get your delivery and your metals can be stored with other different metals. I am also not impressed by the 20% mark up on metals so I will not be buying from them in future.
Who Would You Recommend?
After looking through so many different companies that sell precious metals I would recommend gold IRA from Regal Assets. They are trusted company who have a great product range to choose from and who have thousands of satisfied customers. If you want to invest in gold, silver, platinum or any other precious metals they are the people you can rely on. So what are you waiting for, get in touch with Regal Assets and start investing in your future.
You can call them for more details at 1-855-790-7611