Morgan Gold

**IMPORTANT UPDATE September 2014**

Morgan Gold appeared to be popular with investors once – but that seems to be in the past. While there are several websites that still discuss Morgan Gold, the actual company’s site seems to have disappeared. This is what you now see at www.morgangold.com, where the website used to be:

There is also a remark that says ‘Site is Offline‘.

A Disappearing Act?

Morgan Gold appears to have fallen off the radar. Where did they go? Why is the internet community so quiet? Are there legal issues about which no one can speak publicly? Are they still trading? Perhaps the firm is phasing out or about to change names? Or it could be that the company is experiencing a major overhaul?

There also doesn’t seem to be any recent discussions around the company, with some of the “latest reviews” dating back to 2011.

The information above supercedes our original review, which you can still read below. A quick look below at our findings at the 3 independent review sites The Better Business Bureau, the Business Consumer Alliance and Trustlink show that Morgan Gold had a below average reputation even before their recent disappearance.

The fact that the company seems to have now disappeared shows the importance of careful research before choosing a gold dealer and it also demonstrates the value of including research at the 3 consumer advocacy sites referred to above in your due diligence. Caveat Emptor!

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Here is our original review of Morgan Gold, written and posted here before the company’s complete disappearance…

Morgan Gold is a gold IRA company that enables investors to diversify their retirement funds by adding precious metals to it — an increasing investor trend amid economic uncertainty.

As a gold IRA company, Morgan Gold has helped several people with their gold IRA and 401(K) retirement accounts. The company claims to offer unique investment advice and expertise to investors who are looking to diversify and enter the gold market.

Formed in 2010, Morgan Gold has individual plans for those who want to open an account with them and provides up-to-date information on precious metals to its customers.

Based in Southern California, Morgan Gold’s IRA is an alternative investment to traditional stocks, bonds and paper assets. The company’s representatives are self-acclaimed experts in trading gold, rare coins and planning investments. With a focus on trading in precious metals, the company offers an avenue to investors who are looking to switch from traditional investments to alternative avenues.

Reputation & Ratings

“Morgan” is the name for a type of collectible coin which some investors like to own for its potential numismatic value (not as an IRA investment as it is ineligible). Morgan is also the name of a metal dealer. Morgan Gold LLC is based in Torrance, California, and receives mixed reviews from assorted sources.

The Biggest Complaint

Industry pundits have not said a whole lot about Morgan Gold, but even a bit of bad press (mixed with good) is better than no press. Online writers at reputable agencies, the ones consumers should regularly turn to in search of objective information have little to say about Morgan Gold.

One reviewer wrote that associates were impolite, inconsiderate, and that the firm took no interest in identifying where his money (which seemed to have disappeared) had gone. A certain amount of it had been invested. Some of it could not be accounted for. Morgan Gold treated this understandably worried consumer with contempt when he tried to get an answer, telling him repeatedly they would get back to him but not fulfilling that promise.

The interesting fact here is that while many disgruntled people level accusations and say slanderous things about a firm whether their claims are legitimate or not, this reviewer simply wanted answers and never stooped to name-calling. His concerns came across as genuine, especially in light of Morgan’s assigned grade at the BBB.

Yes, this is the only complaint on the BBB website, but this consumer’s issues resurface as you will notice later.

Morgan Gold BBBThe Better Business Bureau Grade

Better Business Bureau agents have chosen an “F” grade for Morgan Gold. The only thing worse would be adding an alert saying the firm is under investigation.

Morgan Gold is not accredited, but they tried to help a customer who had the problem listed above. If Morgan Gold had resolved the problem, their grade might have been a little higher, but they did not.

Moreover, associates have not provided the BBB with sufficient information. They do not respond to requests for information. Standard questions would have to be answered; nothing out of the ordinary. Morgan Gold’s silence does not bode well.

Morgan Gold BCAHow the BCA Rates Morgan Gold LLC

Morgan Gold’s grade is much higher at the Business Consumer Alliance (B) but not fantastic either. There are five higher grades they could have received. A “B” indicates that Morgan Gold is reputable, but they could do much better.

One reason for their modest grade pertains to the problem mentioned above. More than one client has noticed that Morgan Gold makes executive decisions on a client’s behalf without being given leave to do so.

Customers have reported unethical behavior, generally, and specifically holding back funds which they were directed to use for purchasing items. Several complaints have been lodged, although in a number of cases the firm managed to resolve conflicts with their customers.

Morgan Gold TrustlinkAt Trustlink the Picture is Outdated

The five stars attributed to Morgan Gold at Trustlink are out of date. There were only five reviews and none any later than 2011. By contrast, the Better Business Bureau’s file was opened in 2014. As far as consumers are concerned, Morgan Gold did well historically. Their current situation is not well defined. A situation like this should remind viewers to read dates, not just count stars.

Offerings of Morgan Gold

Morgan Gold is engaged in the business of providing investment services such as rare coin collections, precious metals bullion, and other related services to investors. The company offers customized investment plans to every investor that sets up their account with them. Morgan Gold can handle any type of IRA or 401(K) rollover to a gold IRA.

The company provides advice to customers on their gold and silver investments, managing all areas of their clients’ retirement funds and also helping in the process of rolling over existing IRAs into gold IRAs. Morgan Gold also provides advice to customers regarding gold storage options, “buy back” options for gold, and exchanging it for cash.

If a client chooses to buy rare coins and physical metals, then delivery is expected to take 7 working days. The company also stipulates a minimum purchase amount of $20,000.

Account Set-up, Administration and Precious Metal Storage Fees

Resembling most other companies that deal in gold IRA, the fee structure is based on a client’s account size — the more you invest in Morgan Gold, the higher fees you will need to pay.

To set up an account, the company charges a fee of $25 and a yearly account fee of $60. The company also charges $20 for paper statements and a late fee of $15.

For storage of precious metals, the company offers two options — commingled and segregated storage. For the commingled storage option, the company charges a fee of $100 if the gold’s value is less than $250,000, and if the gold value is above $250,000, then the company charges $1 for every $1,000 of the value of gold that is stored. If a client chooses the option of storage of segregated precious metals, then the company charges a fee of $2 for every $1,000 of the value of gold stored, with a lowest expectation of $200 for fees.

Conclusion

With the company almost disappearing, and the poor reputation it gained beforehand it would be fair to say that this is not a good investment choice for those that are looking to diversify their investments with gold IRAs. There are far more reputable players available in the market to handle your hard-earned retirement money.

Check Out Our Top Recommended Gold IRA Company Here:

Regal Assets - Give them a call: 1-855-855-6496
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