Complaint Review: Pinnacle Gold Group LLC - Sherman Oaks California
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- Author Not Confirmed
- Pinnacle Gold Group LLC 15303 Ventura Blvd. Suite 1050 Sherman Oaks, California United States of America
- Phone:
- Web: www.pinnaclegold.com
- Category: Investment Brokers
Pinnacle Gold Group LLC Scam, investment, gold, silver, advice, coins, proof, bullion, IRA Sherman Oaks, California
*REBUTTAL Owner of company: False Complaint
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This company used clever tactics to take advantage of my fear of the economy and I ended up with 33% less in my retirement account pretty much over night. If you want to buy gold or silver learn from my mistakes and beware of the following:-
Pinnacle gold want you to buy proof gold/silver or pre 1933 "investment grade" coins and not bullion. - they make their money on this type of gold//silver. If you want to buy these coins price shop first on apmex.com and dont listen to any "investment advice" from account executives at gold dealers. These guys are no experts and do not have your best interests at heart. Their goal is to make money and charge you 30% or more over what the the coins are worth (their profit is your loss!)
Be warned. Buy bullion and/or price shop before letting any dealer move your IRA funds or lock in your cash sale pricing over the phone. They will apply clever tactics to lock you into a deal but take your time and price shop first. Don't be persuaded to buy any "special" gold. Buy bullion and dont pay over say 5% more than spot price. Ask what their spread is. They want it to be 33%. It should be 5%!
If you have already bought and have payed a spread which is unnaceptable, complain to Better Business Bureau and Ripp Off report. Also go to the dealer trust link page. To find out the value of your account call them and ask for a buy back or liquidation quote (not "retail value"). Ask them "what will you buy my gold/silver back for today?"
This unscrupulous scam needs to be stopped before more investors lose their hard earned money! Please learn from my mistake.
This report was posted on Ripoff Report on 05/14/2012 09:16 AM and is a permanent record located here: https://www.ripoffreport.com/reports/pinnacle-gold-group-llc/sherman-oaks-california-91403/pinnacle-gold-group-llc-scam-investment-gold-silver-advice-coins-proof-bullion-ir-882429. 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 REBUTTAL Owner of company
False Complaint
AUTHOR: Pinnacle Compliance - (United States of America)
SUBMITTED: Friday, May 25, 2012
I am from the compliance department at Pinnacle Gold Group and the above complaint is absolutely false. Which is it 30% or 33%? Neither are true. Our spreads are much lower than that, especially on IRA's. In fact, our average spread is far less than the industry average, We have been in biz since 07 and have the least amount of complaints out of any company. Bottom line is this is a disgruntled ex employee who was terminated for lack of performance. He wrote the exact same thing on other areas of the internet. If it really is a client and they were charged that much then I will rectify the transaction Immediately. There are no "clever tactics" here. We record every transaction, say holding periods, and say spreads as well as disclose all pertinent info to pricing and retail pricing in our transaction agreement which a consumer must sign before we ship metals. In fact, if you go to Trustlink you will see the rave reviews about us. Bottom line, this complaint is unwarranted and not legitimate. If it is then please call us immediately and refer to this. The client said lost money overnight but we have a 30 day exchange policy so why did he not call us the very next day to take advantage of the policy?
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