Complaint Review: United States Gold Bureau TRUSTED BUSINESS | Ripoff Report Verified™ …businesses you can trust. United States Gold Bureau philosophy has always been serving customers with emphasis on education personal attention & respect. United States Gold Bureau governed by founding principles continually offering clients a safe secure private way to take control of finances. United States Gold Bureau founded under premise of bringing trust integrity to all aspects of precious metals acquisition process

Some brainless twit wrote that he's a licensed financial advisor and recommends whole life insurance over term and gold over stocks.  He further berates followers of Suze Orman and Dave Ramsey.  Well, this person might have passed a Series 6 and Series 63 exam (enough to hang up a shingle and call yourself a "financial advisor" but hardly enough to qualify oneself as a legitimate advisor.  You really need to have the Series 7 and 66 exams, at least 2 years experience and ideally have the CFP designation.  That said, this guy is a twit.  By no means does gold "revalue" itself.   As for "value," as a general term, investors alone determine the value of any equity or commodity position.  No asset class is immune to the iron scales of supply and demand.   As for the value of gold, what do you image would happen if the governments of India or China (classic hoarders of gold) were to dump a few metric tons of gold on the open market, flooding the supply?  The price of gold would plummet and in order to bolster a flagging economy, a country might do just that.  Please remember that governments are not individual investors and they do things with a rationale that is completely nonsensical from an individual perspective.  What would be suicide to an individual makes perfect sense for a government or even a large institutional investment firm to do.

Just go to Kitco.com and look up the historical chart for the price of gold for the last 30 years - Found here:  http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx

You'll see a marked jump in the price of gold back in the late 70's when we were embroiled in the Oil Embargo and hyperinflation of the Carter administration.  Funny, isn't it, how democrats take control of the Oval Office and the economy goes to absolute pot in 2-3 years?   Imagine if you had invested in gold in 1979 when gold hit $750 (adjusted to 2012 dollars that's about $2440) when you thought the world was going to come to a fiery end with a Soviet nuclear attack and you heard all the drivel about gold at $1000 per ounce.  Now, imagine holding on to that gold after it dropped to $350 in mid-1981.  Sure, you would have seen a couple of peaks, but not until 2007 did gold touch $750 per ounce again.  You would have wasted 28 years (basically your entire career) waiting for the day.... Now, have a look at what your money would have done if you consistently invested in just indexed mutual
funds http://stockcharts.com/freecharts/historical/ .  Oh my goodness!  You mean to say if I invested $100,000 in gold in 1979 and held on to it I wouldn't even have recovered my initail investment (much less made a dime!!) until 2007?  And by contrast if I had put the same $100,000 in a series of mutual funds benchmarked to the S&P 500 Index I'd have grown my money by a factor of 10x to over $1 MILLION just letting it sit there?  The chart speaks for itself, goldi-locks!!  Now, what if I'd had a knowledgeable advisor helping me add just $300 per month and I started with only $10,000 in 1979?  He would have helped me take advantage of several downturns in the market (1981, 1987, 2002, 2009 as examples) and I could have over $2 MILLION.    In summary, gold is not going to hit $5000.  It's not going to hit $3000 for another 20 years or so.  It's going to continue its recent slide until it balances at about $1,300.  It will then fluctuate within a range of $1150 - $1,500 for the next two decades.  If you get in now, be prepared to ride the merry-go-round while your better-advised friends stay in equities for the next 20 years and build themselves a respectable retirement portfolio while you just sit there.  Maybe you'll get off in 4-5 years, take your losses, and get in equities... where you should have been all along.  You'll be a bit behind your peers, but far better off than if you stay in gold.  

USGB is so un-trustworthy that the BBB REVOKED it's accreditation in 2011 giving the company a D+ rating. No one should trust such a rip-off company. Gold will never it $5000 in our lifetime. You should write a book titled GOLD $5000. You can join Glassman in his rediculous idea and book that the DOW will hit 36000 within 5 years. This was Glassman's prediction in 1999. Of course the Dow is roughly at the same level as back in 1999. 

No address on USGB's web site is a huge red flag. They used to list the address I provided. Now the BBB lists them at another address. Anyone who makes a "rare coin" purchase from USGB will be told after the fact that their coins are non-returnable.  Of course USGB doesn't want any returns with it's fat 80% profit.

In my opinon USGB does not have a workable business model. They are in business to rip their customers off. I will state that many other companies like USGB also rip the customer off selling overpriced gold coins.

Saying Gold is at it's peak is like saying saying the paper dollar is worth it's face value. Do your homework! I am a licensed financial advisor! USGB is the only precious metals dealer I know that IS self regulating itself in a NON-REGULATED industry! Suze Orman?! Pahleeze!!  She knows as much about protecting your 'Money' by getting out of the 'Dollar' and putting it into 'Metals' "ie: REAL MONEY' as she knows about the power of Whole Life Insurance compared to 'Term" which she pushes on her following.... interesting for baby boomers who followed her.... they will not only not have a legacy to leave their families untaxable if they had purchased 'Whole Life" instead of term... they will have NO IRA left... the biggest population ERA of the  'Baby Boomers' will start withdrawing their funds per forced withdrawels at the same time, SOON.... causing markets to crash and more panic and more withdrawels kinda like what happened in the great depression. The Suze Orman and Dave Ramsey followers that haven't already seen their accounts drop because THEY TOLD YOU to buy TERM and INVEST the REST..... need to know this. OOPS...Too late.... at 65  try to even QUALIFY for WHOLE life Insurance but if you want to have REAL money and not pretend 'Monoply" money at the end of day it's all about proctecting what you HAVE!!!  The biggest Transfer of Wealth IS yet to come in our country!! Those who have had the foresight to invest in metals WIN!!  Gold,  has always RE-VALUED itself throughout History!!  Saying Gold is at Peak is missing the point. WE will see 5,000 Gold when our dollars crash.... The spot price is a moot point, when it will be the only thing you can use for purchasing power.....

Their website doesn't list a physical address. Red flag.

Their domain registration is private. Red flag.

They share the same address as the ABC Bank branch. Strange...........

A bank dealing in gold coins and bullion?????? Haven't heard of that one yet.

I suspect the FDIC may frown on that one.

Where did you get the street address listed in the report? This definitely deserves a more thorough look.

Best place to buy coins...... at a coin show, with many dealers to price compare against. See and touch the coins before you buy them. What a novel approach.

US Gold Bureau is just a boiler room operation employing high pressure salesmen to bait and switch you from gold and silver bullion to overpriced pre-1933 gold coins or 70 graded modern coins (the latter being a total waste of money). If US Gold Bureau salesmen are so knowledgeable when was the last time you heard a CPA or CFP like Suze Orman recommend owning gold in your portfolio? They never do. Also why would someone want to buy gold at today's high prices? You've already missed the opportunity because gold has little upside potential and an even bigger downside risk. This is a good time to be selling gold not buying it. US Gold Bureau's idea that you should put gold in an IRA is as stupid a suggestion as I've ever heard. Gold pays no dividends and is far too risky to be part of anyone's investment portfolio. However, if you wish to collect gold coins you should do so with money you will never need in the future.

A word of CAUTION! Do not buy rare coins on ebay as this person who is non informed is telling you to! The United States Gold Bureau is a reputable dealer in rare coins and precious metals. It is a consumers responsibility to get their information and do their research before purchasing Anything! Talk to your financial advisor and talk to your CPA. DO not purchase precious metals on ebay! There have been numerous reports of counterfit 'Slab' coins sold on ebay with no recourse. Do your  research and purchase buillion and rare coins from a reputable dealer like the Untied States Gold Bureau.

Investment brokers that sell coins to you are a rip off. They usually have salesman pitching overpriced coins like PF70 $50 Buffalo gold coins for $2300 that actually sell for $1500 on ebay. The salesman actually know almost nothing about coins. They're salesman not collectors. If you buy $12000 in gold coins from them you've already lost $4500 to your so called "investment". US Gold Bureau is a prime example of this. On their web site is a 9 pc gold type set for $12000. What you'll get is gold coins worth $7000 to $7500. To make you think the gold coins are rising in value they'll increase the price on their web site every few weeks. Most real collectors don't buy coins as an investment  They buy it as a hobby. With gold and silver reaching new highs (not counting inflation) gold brokers try to sell "investors" precious metals IRA's and coins as investments.  In reality it could be 25 years before their coins make a profit. When gold reaches new highs it's usually the worst time to buy it. This fact has been proven time and time again with stocks and real estate.

   Don't by "rare" gold goins if you are not a coin collector.   Investing in something you know nothing about is a suckers game.   If your knowledge about rare coin investment came primarily from a salesman, you've been hosed.  

   Most of the people who buy these supposedly rare coins as investments are the butt of real coin collectors' jokes.  If you think there is something magical about pre-'33 coins, think again.    The confiscation myth is the salesman's best friend.