What is Midas Gold Group?Midas Gold Group Locations, Timings, Email, Phone, Services
Midas Gold Group is a company that allows customers to sell and purchase precious metals such as gold, silver, platinum, palladium, and rhodium. It also known as MGG, was founded in 1970, began operations in 2007, and incorporated the group in 2010 to provide services for gold IRA investments.
MGG claims to be a market leader in the precious metals industry and a proud partner of various third-party companies, headquartered in Phoenix, Arizona, and operating in all 50 states.
The company has a broad range of educational knowledge regarding precious metals and their economic implications. This enables its clients to make informed decisions in today’s marketplace.
Midas says that they exclusively hire qualified financial professionals and never incentivize anyone to market a specific product or class of products, according to Midas. The organization believes in putting its client’s unique and specific interests first.
Address: 625 W Deer Valley Rd. Suite 109 Phoenix, AZ 85027
Phone: (480) 360-3000
People Behind Midas Gold Group: CEO, Owner, Co-Founders & MoreWho owns Midas Gold Group? What is the management team behind Midas Gold Group?
The official website of Midas Gold Group provides no information about any of its employees. It does not even disclose the name of the company’s owner, CEO, or founder, which is raising doubts about the company’s credibility. MGG has only five employees, according to the ZoomInfo website. Except for Kenneth Russo, Senior Vice President of Midas Gold Group, none of them have an online presence.
Kenneth Russo: Senior Vice President
Kenneth Russo is a Senior Vice President at Midas Gold Group. He joined the firm in 2019 and before that, he was a Senior Account Executive at CGG, Inc. Which is a premier provider of physical precious metals, including gold, silver, platinum and palladium in the United States. Kenneth has been in this field for almost a decade.
Midas Gold Group Products: Gold, Silver, Platinum, & More All products offered by Midas Gold Group
Midas Gold Group offers gold, silver, platinum, palladium, and rhodium. After reviewing the inventory, it is possible to say that Midas has an array of products that will meet the needs of investors and collectors. Let’s take a look at some of what Midas has to offer in each category:
Gold is one of the most popular precious metals. Midas Gold Group claims to help you buy gold coins, gold bullion, or unique coins.
The company sells a wide range of gold products at reasonable costs. All you have to do is select one of the available options and begin the buying process. A few of them are:
Gold American Eagle
Proof Gold American Eagle
Gold American Buffalo
Proof Gold American Buffalo
Gold Canadian Maple Leaf
Silver, like gold, has traditionally been regarded as a private and tangible way of safeguarding wealth. In a world filled with economic uncertainty, there is no better way to safeguard your wealth than to invest in silver and other precious metals.
The use of silver as legal money dates back to 600 BC. Global empires such as the Romans, Chinese, and Greeks created silver coins and utilized them to exchange goods and services. Some of MGG’s silver items include:
Silver American Eagle
Proof Silver American Eagle
Silver American Buffalo
Silver Canadian Maple Leaf
Silver Vienna Philharmonic
Platinum is also known as “rich man’s gold” at times. It is a highly valuable metal when compared to gold and silver.
Throughout history, platinum has been more expensive than gold. It is a soft and heavy metal. It is well-known for its catalytic characteristics, which allow it to speed up chemical reactions without changing its shape.
Some of the MGG’s Platinum items include:
Platinum American Eagle
Platinum Vienna Philharmonic
Platinum Canadian Maple Leaf
Platinum Australian Platypus
Beware of Gold IRA scams. Recently several scams have been charged by the authorities. Companies such as Regal Assets, Safeguard Metals and Red Rock Secured defrauded hundereds of retirees like you and me. I strongly suggest you learn how to identify gold IRA scams. You can request a free guide using the button below:
Despite the fact that most investors are still unaware of palladium, its value as an investing tool has been steadily improving in recent years.
Rhodium has never been regarded as an investment precious metal in the same way that silver, gold, and palladium are. However, in comparison to gold and other precious metals, it is the rarest.
How to Invest in Midas Gold Group IRA?Step-by-step guide for investing in Midas Gold Group IRA
Time needed: 15 days
To invest in a precious metals IRA through Midas Gold Group, here are the general steps:
Open a Self-Directed IRA
Select an IRA company that handles opening precious metals IRA accounts and fill out an application. You can work with Midas Gold Group to recommend an IRA company and provide the necessary paperwork. However, I don’t recommend doing so.
Fund Your IRA
Once you have selected an IRA company, you can move your funds into your new IRA account. You can work with the IRA company representative to transfer or rollover funds into the new account.
Select a Precious Metals Dealer
One of the forms you need to fill out along the way is typically called a Buy Direction Letter. This is where you list the precious metals dealer you have selected, such as Midas Gold Group
Decide Which Precious Metals to Purchase
You can choose to invest in gold, silver, platinum, or palladium for your IRA. There are some restrictions regarding fineness requirements and allowable coin types, so it’s important to get guidance from Midas Gold Group in this area.
Place Your Order
Once the funds are available in your IRA account, you can call them to place your order for the desired precious metals.
However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.
Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer in your state and choose accordingly.
Also, the list will help you understand what the industry’s best has to offer and what you might miss out on.
Midas Gold Group Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
Midas Gold Group website does not disclose its fees and charges. This could be one of the company’s most serious drawbacks. Potential clients may be concerned about the lack of openness related to fees. It might be especially problematic for those who appreciate clarity and wish to make informed decisions.
Potential clients also may have difficulty comparing the cost of using its services to those of other similar suppliers if fees and charges are not clearly available.
In a business where reliability, transparency, and accountability are critical, the lack of fee information on the website may cause some investors to be concerned. Clients may wonder why pricing information is not easily accessible and whether there are any hidden costs or unexpected charges associated with using Midas Gold Group’s services.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your own gold & silver. Midas Gold Group on the other hand provides fewer options.
Midas Gold Group Reviews and Complaints: BBB & GoogleRead all the Midas Gold Group reviews & complaints
Better Business Bureau (BBB)
Midas Gold Group received a 3.86 rating out of 5 on the Better Business Bureau (BBB) website based on customer reviews and complaints. Moreover, the company has a total of 7 customer reviews and in the last 3 years, 1 customer complaint has been closed. There are both positive and negative customer reviews. Also, the business has been BBB accredited since 2021 and has been in the industry for 12 years.
Midas Gold Group has a 4.8 rating out of 5 on Google based on numerous customer reviews. There are 51 customer reviews in all. The majority of the reviews are positive, with customers appreciating the good customer service and product prizes. Few customers have even written reviews stating that MGG has a knowledgeable team. However, it is impossible to ignore the fact that there are a few negative reviews as well.
Midas Gold Group has received #3 complaints on Google
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 gave Midas Gold Group a rating or even an account profile. MGG does not even have a rating on the most trusted rating platforms, Trustpilot, Trustlink, and Yelp.
#1. A satisfied customer stated that the MGG team is good, and Ken Russo is friendly, supportive, and knowledgeable. For a beginner, the personal attention he received was great. The advisor provided him with personal assistance as well as the best gold and silver pricing. He also thanked those who work at Midas Gold Group. He highly recommends the company to anyone visiting Thousand Oaks or stopping by searching for a place to acquire bullion or coins.
#2. Another customer expressed her satisfaction with MGG, stating that she had worked with Ken and that the customer service was exceptional. He was really knowledgeable, and she enjoyed his honesty. The Midas Gold Group is a reliable company that she recommends for both selling and buying precious metals.
#3. Another customer appreciated Midas Gold Group’s customer service, adding that it is good and that they answer immediately to any queries. The customer further stated that the prizes are all great and that he will return to this company.
#4. An MGG customer stated he has been dealing with this company for a few months now, converting silver to gold coins, and he has found them honest and easy to deal with. He also stated that the prizes are better than those offered by other online dealers and that he would continue with this company.
#1. A customer expressed his dissatisfaction with MGG, stating that he didn’t know anything about gold and silver and required help. Midas just misled him into a high-priced deal that screwed him. He also stated that an employee named Matt treated him in an unprofessional manner. Lastly, he warned everyone to avoid Midas Gold Group.
#2. A customer shared an awful and surprising experience, stating that he owns a small Canadian company that has been dealing with Midas for four months. He claimed that a lot of things happened and that his company was ripped off by MGG. The customer advised anyone considering dealing with MGG to think twice. He is currently starting his legal proceedings. Lastly, he expressed regret that after treating a firm well, they turn around and burn him.
#3. Another customer shared his unpleasant experience, stating that he called Midas Gold Group to ask about the pricing of gold. The person he was talking with lectured him on lots of issues after he asked his question. When he asked again, the man at the other end of the line told him, “If you listen, you might learn something.” The customer hung up at that point. At last, he advised people to avoid MGG since they are unprofessional and rude.
#4. An individual expressed frustration by giving it one star because he couldn’t give it zero. He stated that he is not a customer but was hoping to become one. He had an appointment with James, whom he knew was a nice guy, but he never showed up.
Instead, he instructed him to leave 28 ounces of silver bullion and more than 2 pounds of platinum group metals with a receptionist. At last, the individual said that MGG is a too bad company to deal with.
Midas Gold Group Lawsuits: UniCourt & Justia Have its customers Sued Midas Gold Group?