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Report: #1468088

Complaint Review: Metals.com - Beverly Hills California

  • Submitted:
  • Updated:
  • Reported By: BJGHoney — Trinidad Texas United States
  • Metals.com
    433 N. Camden Dr., Suite 970
    Beverly Hills, California
    United States

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

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 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.    

This report was posted on Ripoff Report on 11/25/2018 01:42 PM and is a permanent record located here: https://www.ripoffreport.com/reports/metalscom/beverly-hills-california-90210/metalscom-chase-metals-convinced-me-to-move-my-entire-life-savings-from-fidelity-ira-int-1468088. 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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