- Report: #1468088
Complaint Review: Metals.com - Beverly Hills California
Reported By:
BJGHoney -
Trinidad, Texas, United States
Submitted:
Updated:
-
Author Confirmed
Why?
Metals.com
433 N. Camden Dr., Suite 970 Beverly Hills, 90210 California, United States
Phone:
213-545-0721
Web:
metals.com
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Metals.com Chase Metals Convinced me to move my entire life savings from Fidelity IRA into silver coins in a New Direction IRA Beverly Hills California
I am 82 year's old with my life savings in my IRA. Chase Metals/Metals.com targeted me by saying they were huge supporters of Sean Hannity and Fox and thanked me for being a supporter. They scared me with claims that the government was going to freeze IRA accounts; that the stock market and mutual funds were the worst place to be and my IRA was in "so much, such a disastrous situation" and "if you did five minutes of research, you'd know that." They convinced me to move my ENTIRE life savings from a Fidelity IRA to a New Direction IRA containing only silver coins, which they sold me for $24 each. The "melt value" which they explained is what the IRA is required to show the IRS, shows my IRA is valued at a loss of 71%. When I phoned they explained that the "melt value" isn't the "actual value" of the coins. I explained to the V.P. that I could not find the coins listed anywhere on the internet and asked how I could determine the "actual value" of these coins. He said "Well, you call us." He also said the last coins they sold were for $26 per coin (these are 1/2 oz. 2018 Silver Canadian Polar Bear Coins of which there is nothing listed on the Royal Canadian Mint's website about these coins). When I asked them to sell my coins they said they couldn't as the coins were in an IRA and that I would have to sell them myself. I know nothing about how to sell coins and Chase Metals/Metals.com has refused to even tell me how I can do it, even after asking them no less than four times. So, you be the judge of this company, but please read this and beware of their tactics.
