About Midas Gold Group:Midas Gold Group Locations, Timings, Email, Phone, Services
In 2007, Midas Gold Group began its journey, proudly affiliating with esteemed organizations. With nearly two decades of experience, MGG is a leading figure in the precious metals industry. Their commitment to preserving and growing customer wealth distinguishes them from profit-focused entities. According to Midas Gold Group BBB ratings, the company has 3.67 stars out of 5 stars.
Midas Group’s roots in precious metals date back to the 1970s, driven by a mission to offer alternative wealth preservation methods. In 2010, they specialized in gold IRAs, helping clients build diverse portfolios of precious metals, including coins and bullion.
Their website provides extensive educational resources and price charts for informed investment decisions, solidifying their reputation as a trusted IRA provider in the United States. As a multinational organization, Midas Gold Group operates in all 50 states, headquartered in Phoenix, Arizona.
Address: 625 W Deer Valley Rd. Suite 109 Phoenix, AZ 85027
Phone: (480) 360-3000
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The Better Business Bureau (BBB) is a non-profit organization focused on promoting trust and transparency between businesses and consumers. It serves as a mediator and watchdog to ensure ethical business practices.
Here are some key details about the Better Business Bureau:
The BBB’s mission is to be the leader in advancing marketplace trust. It aims to create a marketplace where both businesses and consumers can trust each other.
The BBB was founded in 1912. It has a long history of providing consumers with information about businesses, including their reliability and ethical practices.
Business Ratings: The BBB assigns ratings to businesses based on a variety of factors, including their response to customer complaints, the accuracy of their advertising, and transparency in their business practices. Ratings often range from A+ (the highest) to F (the lowest).
Customer Reviews: The BBB provides a platform for customers to leave reviews and feedback about businesses. These reviews can help others make informed decisions when choosing products or services.
Dispute Resolution: The BBB offers a dispute resolution service, helping to mediate conflicts between consumers and businesses. This can include issues related to product quality, warranties, billing disputes, and more.
Consumer Education: The BBB provides educational resources to help consumers make wise purchasing decisions. This includes tips on recognizing scams, understanding contracts, and more.
Businesses have the option to become accredited by the BBB. To achieve accreditation, a business must meet certain standards of transparency, honesty, and customer service. Accredited businesses can display the BBB logo, which can enhance their reputation.
The BBB keeps records of consumer complaints against businesses. These records are used to track patterns of complaints and can influence a business’s rating.
The BBB operates as a network of independently incorporated organizations. Each office serves a specific geographic region, and they collectively form the Council of Better Business Bureaus (CBBB), which oversees the standards and operations of the BBB network.
The BBB has a significant online presence, with a website that provides information about businesses, allows consumers to file complaints, and offers resources for both consumers and businesses.
It’s important to note that the BBB is not a government agency. It is a private organization funded primarily by fees paid by businesses for accreditation and membership.
While the BBB can help consumers resolve disputes with businesses, its power is limited compared to government regulatory agencies. It primarily relies on voluntary cooperation from businesses.
Overall, the Better Business Bureau plays a valuable role in promoting trust and accountability in the marketplace by providing information and dispute resolution services to consumers and businesses alike. However, I encourage consumers to utilize multiple sources of information when making decisions, as BBB ratings and reviews represent only one aspect of the equation.
Midas Gold Group Reviews and Complaints: What Their Clients Say? Read all the Midas Gold Group BBB reviews & complaints
Midas Gold Group BBB (Better Business Bureau):
Midas Gold Group received a 3.67 rating out of 5 on the Better Business Bureau (BBB) website based on customer reviews and complaints. Moreover, the company has 6 customer reviews and in the last 3 years, 2 customer complaint has been closed. There are both positive and negative customer reviews. The business has an A+ rating on BBB. Also, the company has been BBB accredited since 2021 and has been in the industry for 13 years.
According to Google, Midas Gold Group has an impressive rating of 4.8 out of 5 stars based on 56 customer reviews. Most of the reviews are positive, with customers appreciating the excellent customer service and reasonable product prices. A few customers have even mentioned the knowledgeable team at MGG. However, it is important to note that there are also some negative reviews.
Midas Gold Group BBB has received #2 complaints.
Midas Gold Group has received several unresolved complaints from customers. There are also several unresolved negative reviews on different platforms. Our #1 rated gold IRA company has ZERO unanswered complaints on BBB.
Apart from BBB and Google, no other rating platform provided a rating or profile for Midas Gold Group.
Midas Gold Group has not been rated on trusted platforms like Trustpilot, Yellow Pages, Trustlink, and Yelp.
#1. According to Patrick, Midas Gold Group delivers an exceptional customer experience in Ventura County. Their team is not only friendly but also well-informed. Moreover, they offer highly competitive prices. With Ken R. dedicated to ensuring a top-notch customer experience, you can have full confidence when conducting business with Midas Gold Group.
#2. Ron sold “junk silver” twice recently, worth $500 in dimes and $1,000 in quarters. He preferred local transactions and found the T.O. facility within a two-hour drive from where he had 99 pounds of coins. Ron expressed satisfaction with the experience and was willing to engage in future transactions. The prices offered were competitive, considering shipping costs and associated risks.
#3. John Rivera shares that, in his extensive 24-year history of buying silver, he has discovered that this place surpasses all others. The sales personnel here are exceptionally friendly and highly knowledgeable. He confidently declares that he has found his new go-to source for silver.
#4. Chuck has been with Midas for months, converting silver to gold coins. In his experience, Midas has proven to be both honest and straightforward to work with. Additionally, he appreciates that their prices outshine those offered by online dealers. As a result, he intends to continue his dealings with them.
#5. Jennifer Boyle shares her positive experience, highlighting her interaction with Ken in person as truly remarkable. She commends his extensive knowledge and how he has been instrumental in guiding both her and her mom toward making informed decisions. Jennifer also notes the excellent support provided by Andrew from Nevada, who promptly called and immediately reassured her. Working with this group has been a great and reassuring experience for her.
#1. Peter Larabie, who runs a small Canadian company, expresses his dissatisfaction with MIDAS GOLD GROUP, which he has been dealing with for four months, primarily out of their California and Phoenix offices. He indicates that there have been numerous issues, resulting in significant losses for his company. Peter strongly advises anyone considering doing business with this company to exercise caution and think twice.
He mentions that he is initiating legal proceedings in the coming week, emphasizing his disappointment that, despite treating the company well, they have ultimately caused harm. Peter particularly warns against engaging with the California Phoenix office.
#2. Bruce recounts his experience when he called The Midas Gold Group with a straightforward inquiry about the price of gold. Instead of receiving a concise response, he was subjected to an unsolicited lecture on various topics. When he politely reiterated his question, the individual on the other end of the line responded with a curt remark, saying, “If you listen, you might learn something.” Frustrated by the interaction, Bruce decided to terminate the call. He strongly advises others to avoid this business due to their perceived rudeness.
#3. Thomas Phillips questions if the individuals in question have more meaningful activities to engage in.
#4. Fred describes his experience with poor customer service, noting unprofessionalism and occasional immaturity in their interactions. He expresses frustration over their inability or unwillingness to provide a satisfactory experience, ultimately deeming it as bad business.
#5. Dan Given sought assistance with gold and silver despite not being knowledgeable but feels that Midas took advantage of him and pushed him into a high-premium deal that caused financial distress. He expressed disappointment with the unprofessional attitude of Matt and urged others to avoid this association.
Midas Gold Group BBB: Complaints
#1. A customer transferred $386,200 of American Eagles Gold, Platinum, and Silver metals from their Fidelity IRA account to Midas Gold Group. Midas sold them Perth Gold and Silver at prices above market value. The transaction lacked transparency, and the purchased metals were deemed less valuable. Despite requesting an invoice on the day of the transaction, it was not provided until the following day.
As a result of this transaction, the customer suffered a loss of over $60,000.00 in their IRA retirement account. Although they retained the same quantity of gold and silver, platinum was not included. Midas Gold Group had added the platinum’s price to the overall cost of the total metal purchase.
On May 1, the customer attempted to cancel the order due to a lack of transparency and the delay in funding their IRA account. However, on May 2, they received an email from an agent stating that cancellation was not possible. Despite continued efforts, including phone calls and emails, as of Friday, May 19, 2023, the customer’s account remained unfunded and displayed “Unsettled Metals Purchase.” They were unaware of the timeline for funding, the value of their IRA retirement account, or the fair market value of their holdings.
The customer felt that Midas Gold Group may have taken advantage of them as retired older people and questioned the legality of these actions. They desired to cancel their IRA metal account with Midas Gold Group and receive a refund, as they believed the company had not acted in good faith, provided transparency, or acted in their best interest.
The customer hoped that sharing their experience would encourage future customers to ask more questions and exercise caution when dealing with Midas Gold Group.
One More Customer Complaint:
#2. A customer of Midas Gold Group has filed a complaint with the BBB, outlining a transaction that took place on 2/22/21. In this transaction, $200,000 was transferred from their Fidelity account into a precious metal-backed account managed by Midas Gold Group. Midas Gold Group was responsible for managing the documentation and the actual metals transaction.
As of 6/3/21, the customer’s Equity account does not reflect the purchase of gold, platinum, and silver metals equivalent to the aforementioned $200,000. Moreover, there is a lack of any documentation from Midas Gold Group regarding this transaction. Brinks, which serves as the metals depository for Midas Gold Group, has not provided confirmation of the receipt of the metals as specified in an invoice dated 2/22/21.
Further complicating matters, the specific metals, that are indicated as eligible on Midas Gold Group’s website, are not documented on the invoice. Additionally, the purchase price was 30% above the spot value of these precious metals at the time of the transaction.
The company’s significant markup in metals pricing has understandably raised concerns for the customer, who fears the possibility of losing a substantial amount of money, either $200,000 or at least $30,000.
Midas Gold Group BBB: Conclusion
Midas Gold Group is a prominent player in the precious metals industry, specializing in gold IRAs and offering a diverse portfolio. They provide educational resources on their website and operate nationwide from Phoenix, Arizona. The BBB gives them a 3.67-star rating. Customer reviews vary, so thorough research is advised before engaging with them.
Customer reviews and complaints provide insight into the experiences of individuals who have interacted with Midas Gold Group. While the majority of reviews are positive, there are some negative experiences shared by customers. It is important to consider multiple sources of information when making decisions and to critically evaluate ratings and reviews.