Report: #832360

Complaint Review: Midas Resources

  • Submitted: Wed, February 01, 2012
  • Updated: Wed, January 23, 2013
  • Reported By: Chance — Guernsey Wyoming United States of America
  • Midas Resources
    3105 Sibley Memorial Hwy
    Eagan, Minnesota
    United States of America

Midas Resources Infowars Midas Resources owned by Ted Anderson and Alex Jones steal money from hard working Americans by overcharging for gold and silver. Eagan, Minnesota

*Consumer Comment: Midas Resources

*General Comment: Midas Resources

*Consumer Suggestion: Alternative to Midas

*Consumer Comment: Midas had great customer service

Show customers why they should trust your business over your competitors...

I thought Midas Resources, a company who sells gold and silver, was reputable. The company is owned by Ted Anderson, owner of GCN, an internet radio network. Alex Jones with Infowars has a show on Ted's network and often features Ted's 'great deals' on the Infowars radio show.

Thinking that Ted and Alex really care about people trying to survive in this country, and this economy, I decided to purchase silver through Midas Resources. It was one of the worst decisions of my life. I highly discourage anyone from doing business with those people. At the very least you better really know your stuff if you deal with the sales people at Midas.

They ripped me off by overcharging for the purchase of junk silver, by about 1000 dollars. The order took forever to arrive and when I called to inquire about my silver they acted irritated, or should I say one of their salesmen certainly behaved in a most unprofessional manner. After six months my silver arrived in zip lock bags.

After this stressful ordeal I made a few phone calls to 'real' metals companies. I found that Midas overcharged me with premium of over $4.20 per ounce which amounted to about $1000.00. It was too late to rectify the situation, but I tried talking with their 'salesman' who ran in circles during my inquiry. On one hand he said they didn't charge premiums, in the next statement he said Ted sets the premiums because we have a huge radio show, Infowars, we have to support. He did his best to sound intelligent but to no avail.

Just don't do business with Midas, and if you hear Alex and Ted talking about how much you need to get into gold and silver because of the economy....PLEASE....don't go to Midas. It's nice to think people care about all of us slugging it out during hard times, but be forewarned.....these people are making a ton of money on our backs.
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This report was posted on Ripoff Report on 02/01/2012 12:21 PM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Midas Resources

AUTHOR: Sheldon - (USA)

I also dealt with Roger Roa. I have no complaints with Midas, other than it takes a few week to recieve the order. Premiums are on par with all the others I've dealt with. If someone found a lesser premium, the quality was probably lesser also.

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#2 General Comment

Midas Resources

AUTHOR: Vegas Phil - ()

 I've been dealing with Midas Resources for over 4 years. I've purchase both gold and silver from them. The premiums they've charged me are competitive with local precious metals dealers here in Las Vegas. The advantage to buying from Midas Resources is that I'm not charged 8.1% sales tax. The orders always arrive on schedule, usually within 4-5 weeks of ordering. I've purchased over $100,000.00 worth of gold and silver from them. My salesman is Roger Rao.

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#3 Consumer Suggestion

Alternative to Midas

AUTHOR: DipHawk - (United States of America)

I spent some time shopping the Midas site....MY LORD!  Criminal.  I can't believe these fools have customers!  Who in their right mind buys from these crooks?!!  Highest premiums on the planet, DON'T DO IT!  Do your homework people, just like you would for any other investment....I use although there are several decent dealers out there. Midas has a "special offer" at the time of this post for 1000 mercury dimes for $3265, Provident $2500.  What Midas is doing is borderline fraud in my opinion.  Unreal! 
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#4 Consumer Comment

Midas had great customer service

AUTHOR: Clermont1 - (United States of America)

I just wanted to drop a note here because I had a great experience with Midas.
Now, granted, I only ordered the book "The Creature From Jekyll Island" with a silver coin included, so it was a very small order.
But that is what impressed me so much; They called to let me know they got my order and an approximate ship date.
Then they called to let me know the day it was shipping, just a day later; and then they called to make sure I received it. No sales pitches; just short professional msgs on my work voice mail. 
I was stunned at their professionalism in this day and age of, get money, ship, disappear.
very impressed.  I hate that someone else had a bad experience with them, because now that I am going to make a larger silver and gold purchase it makes me hesitate, and I've dealt with quite a few resource dealers (Asset Strategies has always been a good one too).
thanks for posting regardless.
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