
Regan Gold Group (RGG) took the majority of our retirement. Our account aggregate return over the past 2 years should have been over 200%. How is it our accounts in total show a 11.5% return, according to in RGG's upper management? Lack of transparency!
After purchase and doing research, we realized we were charged extreme markups on the metals sold to us, including:
Silver markups as high as approx. 531%-546% above spot!
Gold markups: 100%-102% above spot!
Platinum markups: 146%-191% above spot!
These markups were not clearly delineated given the convoluted pricing scheme including esoteric proof values determined by RGG's “internal database.” We never wanted the product of “proofs”, and we specifically asked for bullion. Thus, we were under the impression we received bullion.
Since the time of our purchases, spot prices have increased materially across all our precious metals. Depending on the metal and purchase date, spot price increases range approx. as follows:
Gold: up to 121% increase!
Silver: up to 248% increase!
Platinum: up to 167% increase!
We made the following intentions explicitly clear:
We are not a coin collector
We are seeking the best possible investment value for portfolio growth
The purchases were made strictly for retirement savings
We only wanted bullion. NOT proofs
The metals were deposited directly into IRA accounts. We reasonably expected to receive products structured to maximize investment value, not proofs/premium burdened by excessive and unjustified premiums!
BEWARE of the CONTRACT of 5%-35%. Indeed, most sales were made at taking 35% of our money immediately at the time of purchase.
When asked why our account was so low, one answer was, melt/spot value is less than the actual coins, which we understood, but still this does not account for the majority of loss! We asked them for links (which we never received) to prices of the products to compare anywhere on the internet, so it appears we were overcharged on the products also which explains why the metals in our custodian account were valued at around half of the purchase.
RGG massively overcharges on selling proofs.
They overinflate the value of what you are sold.
BEWARE of positive online comments of RGG as these appear to be written by new clients who do not yet realize their account value is egregiously lower than expected. Most likely have not yet tried to liquidate. Note on RGG's website, there is not a single good review of someone's experience trying to liquidate.
"Unjust weights and measures are an abomination to the Lord"