Midas Gold Group Review: New Complaints Lawsuit?

Midas Gold Group is a company specializing in precious metals. Trust and reputation are crucial in this industry. Investors and collectors often turn to firms like Midas Gold Group to purchase gold, silver, and other precious metals.

These companies’ legitimacy and reliability are paramount to those seeking to secure their wealth or diversify their investment portfolios.

Given the significant financial implications of trading precious metals, potential clients frequently seek reviews and client feedback to gauge a company’s credibility before engaging in transactions.

In the case of Midas Gold Group, customer reviews and testimonials that shed light on the experiences of past clients are available. These can be particularly illuminating for those considering a relationship with the company.

Heightening due diligence, consumers may also look into any reported complaints or lawsuits associated with the firm. Whether Midas Gold Group has faced such legal challenges and the nature of complaints against them can influence the perception of their standing within the precious metals market.

Midas Gold Group Review

Gold Broker
Midas Gold

Midas Gold Group operates within the precious metals industry. It positions itself as a veteran-owned business with a robust presence in Phoenix, Arizona. The company’s historical footprint traces years, signifying a significant service and industry engagement period.

The core services offered by Midas Gold Group entail the buying and selling of various precious metals. These include gold, silver, platinum, and palladium. The company caters to a diverse clientele by offering products ranging from coins to bars.

Furthermore, Midas Gold Group’s website emphasizes a commitment to educating its customers and aiding them in informed decision-making about precious metals investments.

Their educational efforts are reflected in their provision of resources that help clients understand market aspects and investment benefits. The organization’s mission revolves around ensuring transparency and trust in client transactions, and it has established specific measures that speak to its focus on customer service.

Operating from 625 W Deer Valley Rd Ste 109 Phoenix, AZ 85027-2140, Midas Gold Group has acquired positive feedback and faced complaints and is familiar with many businesses, which are available for review on customer-focused platforms. The company has been accredited by certain industry watchdogs, contributing to its present-day reputation.

Midas Gold Group Products and Services

Midas Gold Group provides a range of products and services tailored for investors interested in gold and silver assets. Their offerings cater to personal collectors and those looking to add precious metals to retirement accounts.

Gold and Silver Offerings

Midas Gold Group specializes in precious metals, focusing on gold and silver products. Interested individuals can find various options for different investment strategies and preferences, from bullion to exclusive collector’s pieces.

Midas Gold Bullion and Coins

They offer a selection of bullion products, including bars and rounds, highly valued for their gold and silver content.

Moreover, the selection of coins includes government-minted items with a guarantee of weight and purity. Collectors and investors alike can choose from the following:

  • Gold coins: Known for their enduring value.
  • Silver coins: Sought after for both collectibility and investment.

Midas Gold Group Precious Metals IRA

An important service provided by Midas Gold Group is their Precious Metals IRA options. They support clients in diversifying retirement portfolios by including gold and silver, which offer a different kind of security than traditional stocks and bonds.

Investors interested in including physical gold or silver in their retirement savings can find assistance in setting up a new IRA or rolling over an existing one.

Midas Gold Investment Benefits

Investing through companies like Midas Gold Group offers notable benefits such as enhancement of investment portfolio resilience and providing a buffer against economic downturns. These investment strategies consider the intrinsic value and long-term value preservation associated with precious metals.

Portfolio Diversification

A diversified portfolio is crucial for mitigating risk, as it protects investors from the volatility of individual asset classes.

Incorporating precious metals into one’s investment portfolio can reduce the overall risk because the value of metals like gold often moves independently of stocks and bonds.

Doing so provides stability and a store of value that can hold up even when other parts of the portfolio might be underperforming.

Hedge Against Inflation

Precious metals have historically been a proven hedge against inflation. Over time, as the cost of goods and services increases, the value of gold and similar metals typically rises, too.

Therefore, they preserve purchasing power in a way that cash or other assets might not. Investors often turn to companies like Midas Gold Group to maintain the long-term value of their investments in the face of rising inflation.

Precious Metals Market Insights

A stack of legal documents and customer complaints piled on a desk, overshadowing a golden statue of Midas

In the precious metals market, entities such as gold, silver, platinum, palladium, and rhodium often exhibit trends affected by global economic indicators, supply and demand, and investor behavior. They each have their unique market value that fluctuates over time.

  • Gold: Traditionally seen as a safe-haven asset, gold often retains value and can even be appreciated during economic downturns.
  • Silver: With industrial and investment demand, silver’s price is more volatile but offers growth potential.
  • Platinum and Palladium: These metals are primarily driven by industrial demand, particularly in the automotive industry, for use in catalytic converters.
  • Rhodium: As a rare metal, rhodium experiences substantial price movements and has seen significant increases due to scarcity and high demand in automotive applications.

Market trends have shown that diversification into these metals can hedge against inflation and currency devaluation. However, prices are subject to rapid changes due to geopolitical uncertainties or shifts in industrial needs.

Investors often consider holding a mix of these metals to balance their risk and potential for returns.

Prices for precious metals are readily available through various financial news outlets and platforms, offering continuously updated data crucial for informed decision-making.

Midas Gold Group Reviews and Ratings

Midas Gold Group has garnered attention through various customer reviews and ratings, reflecting a mix of experiences. These inputs contribute significantly to the company’s reputation and client trust.

Positive Feedback

Midas Gold Group reviews often highlight satisfactory customer service, reflecting positive experiences.

TrustLink and the Better Business Bureau (BBB) profiles for the company show an accreditation and an average of 8 customer reviews, with some customers expressing contentment with the service received.

These platforms have become notable for users to share their favorable outcomes with Midas Gold Group’s assistance.

  • Customer Satisfaction: Multiple reviews praise the expertise and professionalism of the staff.
  • Product Selection: Clients appreciate the wide selection of coins and bars.

Critical Perspectives

However, not all feedback is positive.

Critical perspectives on various review sites have highlighted areas where Midas Gold Group could improve.

Some negative customer reviews appear on sites like Yelp and other review platforms, influencing the company’s overall ratings.

  • Customer Complaints: A minority of reviews include grievances, with some mentioning up to 2 complaints closed in the last three years.
  • Rating Variance: While some sites may show favorable ratings, others reflect more mixed or lower scores, demonstrating the divergence in customer experience.

Credibility and Trustworthiness

A scale with a stack of legal documents on one side and a shining gold bar on the other, symbolizing the balance between complaints and legitimacy in Midas Gold Group's review

In evaluating the trustworthiness and credibility of Midas Gold Group, two crucial aspects to consider are its accreditation with the Better Business Bureau (BBB) and its standing among industry peers.

Midas Gold Group BBB Accreditation

Midas Gold Group has been accredited by the BBB, reflecting a commitment to ethical business practices and customer service.

Accreditation is a significant step businesses take to demonstrate accountability and build consumer trust. Midas Gold Group currently holds a BBB rating, which provides a snapshot of consumer experiences and the company’s responsiveness to customer concerns.

Industry Recognition

Recognition by prestigious organizations is instrumental in establishing a company’s reputation. Midas Gold Group has operated in the precious metals industry, and its longevity suggests a level of integrity and recognition.

However, the specifics of awards or acknowledgments by industry organizations were not found in the provided information, which may impact the assessment of its recognition by peers within the industry.

Midas Gold IRA Services and Management

Midas Gold Group is a leading gold IRA company that offers services for individuals who want to include precious metals in their retirement planning. The company manages these IRAs with approved IRA custodians to ensure clients’ investments are well-cared for.

Self-Directed IRAs:

  • Midas Gold Group helps set up self-directed IRAs. This empowers clients to diversify their retirement portfolios beyond traditional stocks and bonds.
  • Specialists guide retirees through the process, detailing their IRA options.

Gold IRA Rollover:

  • The company also assists with rollovers from existing retirement accounts into gold IRAs. They offer support at each step.
  • This process is critical for those seeking to stabilize their retirement investments with precious metals.

IRA Provider Collaboration:

  • Midas Gold Group works closely with IRA providers to ensure compliance and smooth management of the IRA.

Customer Service:

  • A team of professionals is available to answer queries and provide insight into IRA management practices.
Midas Gold Group IRA Service Offerings
* Gold IRA Creation
* Gold IRA Rollover Assistance
* Account Management with IRA Custodian
* Comprehensive Retirement Planning
Midas Gold

Midas Gold Group Complaints

Midas Gold Group has a presence in the gold-buying industry, and potential customers need to be aware of the company’s standing in customer complaints and how these are resolved. The Better Business Bureau (BBB) profile for Midas Gold Group provides insight into customer feedback.

Customer Complaints:

The BBB has recorded customer complaints, focusing on issues such as discrepancies in order fulfillment and pricing concerns.

Company Responses:

In response to customer complaints, Midas Gold Group has a record of addressing customer issues. For each complaint made public on the BBB, there has been a clear record of the firm’s attempt to resolve the matter, often including explanations or remedial actions.

  • Procedures for Complaints:
    • Receipt of Complaint: Customers file complaints through the BBB or directly with the company.
    • Company Assessment: Midas Gold Group reviews the complaint details.
    • Resolution Offer: The company offers solutions such as refunds, exchanges, or other remedial steps.
    • Closure: Complaints are closed once the customer accepts a resolution or if the BBB deems the business’s response sufficient.

Effectiveness of Resolutions:

Customers have left reviews indicating mixed satisfaction with the resolutions offered. The BBB profile shows an average customer review rating, which reflects the balance of positive and negative experiences.


Midas Gold Group’s willingness to engage with customer issues and the availability of this information through BBB profiles indicate transparency in the company’s operations.

Midas Gold Group Security and Storage

The scene is a dimly lit office with filing cabinets and a secure safe. A magnifying glass hovers over a stack of documents labeled "Midas Gold Group Review: Complaints, Lawsuits, Legit?" The atmosphere is tense and secretive

Secure storage solutions are paramount when considering the storage of tangible assets such as precious metals. Midas Gold Group provides options to ensure the safety and security of their clients’ investments. The company is committed to providing storage solutions safeguarding assets against potential threats.

  • Vault Storage: Assets are typically stored in high-security vaults, which offer advanced protection features. These facilities often have state-of-the-art surveillance and alarm systems, ensuring high security for stored valuables.
  • Segregation: It’s common for such services to provide the option of segregated storage, meaning a client’s assets are stored separately from others. This helps in maintaining the individuality of one’s investment.
  • Insurance: Secure storage providers usually partner with insurance companies to offer asset coverage in the unlikely event of loss or theft. Clients should verify the details of such insurance policies to understand the extent of coverage.
  • Accessibility: Clients generally have appointed times to access their assets, and visits might be subject to advanced scheduling and verification processes.
  • Audit and Inventory: Regular audits and inventory checks are conducted to ensure the stored items are accounted for and in their expected condition.

Investors should conduct their due diligence to ascertain the credibility and reliability of the storage solutions offered by companies like Midas Gold Group. Checking for independent reviews, such as those on the Better Business Bureau® Profile, can provide additional peace of mind regarding the stewardship of their assets.

Midas Gold Group Fees

Investors must thoroughly know any associated fees when evaluating Midas Gold Group’s services. Transparency is critical in assessing the value and legitimacy of their offerings.

Initial Fees:

Investors may encounter initial setup fees when opening an account. These fees cover the administrative costs involved in establishing new accounts.

Storage Fees:

For those opting for physical gold storage, annual storage fees apply. These are for securing the precious metals in vaults or other secure storage facilities.

Management Fees:

One might encounter annual management fees if participating in a precious metals IRA. These are for the ongoing servicing of the investor’s account.

  • Transaction Fees:
    Transaction fees may be incurred each time an investor buys or sells precious metals.

Table of fees:

Type of FeeDescriptionFrequency
Initial Setup FeeAdministrative account setup onsitee-storage
Storage FeeSecure physical metal storageAnnually
Management FeeIRA account servicingAnnually
Transaction FeesBuying or selling metals per transaction per orderOrder based

Investors should directly consult with Midas Gold Group for an accurate and complete list of current fees and any potential changes. They should also review customer experiences and complaints that may shed light on the practical application of these fees. It is always best for individuals to perform due diligence to ensure all costs are understood before making any commitments.

Midas Gold Group Frequently Asked Questions

In this section, you will find detailed answers addressing common questions about Midas Gold Group’s reputation, legal history, customer feedback, comparison to the industry, considerations for potential customers, and their complaint resolution process.

What is the current Better Business Bureau rating for Midas Gold Group?

Midas Gold Group is rated by the Better Business Bureau (BBB), a benchmark indicating trust and customer service quality. Interested individuals should verify the most recent rating directly through the BBB’s profile for the company.

Have there been any notable Midas Gold Group Lawsuits?

Legal actions, if any, against a company like Midas Gold Group can often be found in public records or news reports. Prospective clients should conduct thorough research or consult legal databases for the latest lawsuit information.

Can the testimonies and customer feedback about Midas Gold Group be trusted?

Evaluations and comments about Midas Gold Group can usually be found on reputable review platforms or financial forums. Considering various customer reviews critically, knowing that experiences can vary widely is essential.

How does Midas Gold Group compare to other gold investment companies?

Like all investment firms, Midas Gold Group should be assessed based on product offerings, fees, customer service, and buyback policies. This comparison can be enriched by examining industry standards and reviews of multiple companies.

What should potential customers consider before doing business with Midas Gold Group?

Before engaging with Midas Gold Group, potential customers should consider the company’s market reputation, transparency, investment options, and associated costs. They should also weigh their own investment goals and risk tolerance.

What processes does Midas Gold Group have in place to handle customer complaints?

Midas Gold Group likely has formal procedures for addressing customer grievances. They aim to resolve issues effectively. I think interested parties should ask directly with the company or refer to customer feedback to understand the effectiveness of these processes.

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