Advantage Gold Lawsuit, Complaints and Negative Reviews 2024

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Advantage Gold Lawsuit: All You Need to Know

Advantage Gold has a low number of lawsuits filed against it. This organization is well regarded for its expertise in managing IRA investments in precious metals.

Here are the specific specifics of the only lawsuit I found, along with links to the complete case if you like to read it.

Advantage Gold lawsuit

Richard Daschbach initiated a class action lawsuit against Advantage Gold, LLC on July 28, 2022. The plaintiff alleged that Advantage Gold engaged in the practice of making unsolicited phone calls to those who had registered their numbers on the National Do Not Call Registry.

The objective of the case was to halt Advantage Gold’s ongoing practice and secure reparation for those who have been subjected to these unsolicited calls.

The complaint sought statutory damages for the class members, together with court expenses and reasonable lawyers’ fees.

The charges are grounded in Daschbach’s own experiences and expertise. Regarding the remaining issues in the complaint, the accusations are grounded in the attorneys’ research, beliefs, and inquiries.

This was the sole litigation in which Advantage Gold has been implicated that I was able to discover. In due course, there will be an increasing number of updates to my post, which I will diligently include.

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Is Advantage Gold a legitimate company? What is the reason behind the scarcity of lawsuits against this Gold IRA company?

Advantage Gold is a reputable gold IRA firm. Since its establishment in 2014, this company has attracted several American savers and investors who have chosen to invest in precious metals.

Advantage Gold’s ratings on well-known consumer watchdog websites are as follows:

BBB does not have a profile for this company. ConsumerAffairs rates it 5 out of 5. Trustpilot also rates it 5 out of 5. Trustlink also gives it a 5 out of 5 rating.

Best Gold IRA Companies I Recommend:

1) Augusta Precious Metals (Best For Investments Over $50,000):

Augusta Precious Metals is a gold IRA provider renowned for its commitment to education and first-rate customer support. Reliability and responsiveness have been hallmarks of Augusta Precious Metals, which has been awarded an A+ rating by the Better Business Bureau since 2012. Customers routinely rate Augusta with five stars on Trustpilot, complimenting their friendly advisors who walk investors through every stage of the procedure.

One of Augusta’s standout features is its competitive all-in pricing with no hidden fees. This transparency sets them apart from other gold IRA providers. They also provide a complimentary Gold IRA guide to help investors diversify their portfolios confidently.

Here’s an overview of Augusta Precious Metals’ ratings:

  • BBB: A+ rating with 109 reviews
  • TrustLink: 5/5 stars with 283 reviews
  • BCA: AAA rating with 95 reviews
  • Google Reviews: 4.9/5 stars with 294 reviews
  • Consumer Affairs: 4.9/5 stars with 129 reviews

Augusta’s unique, free one-on-one educational web conference designed by Augusta’s on-staff, Harvard-trained economist (A must-attend)

Get Augusta’s free educational Gold IRA Guide.

2) GoldenCrest Metals(Best For Beginners):

GoldenCrest, which will launch in early 2024, aspires to establish a new benchmark for integrity and trust in an industry that has recently been plagued by scandal. The company’s pricing clarity and completely non-pushy sales approach have already resulted in the acquisition of a considerable number of new clients in a very competitive field.

GoldenCrest, which specializes in gold retirement, is committed to assisting customers in developing retirement portfolios that are safeguarded against the risks of an unstable global financial system. They also provide a variety of diversification and market-hedging products.

Get their free educational Gold IRA Guide.

3) Birch Gold Group (Diverse Selection):

A comprehensive provider of precious metals, Birch Gold Group provides a large selection of products made of gold, silver, platinum, and palladium. They are also experts in assisting customers with setting up gold individual retirement accounts.

4) JM Bullion (Individual Coins & Bars):

If investors are searching for a more affordable pricing on precious metals, JM Bullion is an excellent choice. They also provide a large selection of items.

5) Lear Capital (Detailed Testimonials):

For those who are new to investing in precious metals, Lear Capital is a wonderful option. They promise that using their goods and services will not result in any risks.

Advantage Gold Complaints and Reviews: What Do Their Clients Say?

Being a highly experienced company with thousands of customers, Advantage Gold has received a handful of complaints as well.

This section will shed light on some of them.

Here’s an Advantage Gold complaint by Neil:

After making their first precious metal purchase with Advantage Gold, the user’s initial happiness faded when they consulted with other experts. The user expresses dissatisfaction with the purchase of products that they believe are overpriced and may pose challenges when attempting to sell them in the future. They vowed to never experience that again.

Here’s another complaint I found:

Advantage Gold complaints example 2

The reviewer says that Paul Fishman, the senior VP, had a reputation for being an attentive and receptive listener. First, the assistant attentively listened to their personal background, followed by an inquiry into their current income, investments, and concerns regarding the economy.

With great skill, the assistant provided a thoughtful suggestion that aligned perfectly with the user’s preferences. After a few days, he reached out to discuss every purchase of the rare metals.

The work receives a top-notch grade. Cal is a Lieutenant Colonel in the US Air Force.

He has a background in physics and holds an MBA from Cal St. Sacramento. The user has evaluated 200 senior individuals at Delta Airlines, Verizon, and the Air Force. Paul Fishman is ranked among the highest performers of all the individuals the user has had the privilege to serve.

Below is an updated complaint. Initially, the client was furious at the pricing of Advantage Gold. However, the customer service of the company resolved the matter.

Advantage Gold complaints example

The reviewer says that upon reaching a 3-year high, the user contacted the company to inquire about the pricing for the coins they had previously recommended for investment back in 2019, which had a 3.5-year investment period. Although the spot price of gold experienced a significant increase of 70%, the value of the “collectable” coins that were purchased only rose by a little over 30%. Indeed, a profit has been made. However, the Royal Canadian Mint coins are falling behind. Upon re-examining the purchase price, it was discovered that Advantage Gold had imposed a 69% premium above the spot price at the time of purchase. When it was initially described, the value of the coins was presented as something inherent, unique to the coins that would be produced for just one year. Due to their limited production and exclusivity, these items tend to appreciate in value over time.

When the user recently inquired about the difference in growth between these RCM coins and the price of gold, they were informed that the lack of market interest cannot be accounted for.

Upon reading an article from The Washington Post dated July 25, 2023, it becomes apparent that the coins in question are actually commemoratives rather than collectibles.

The user was jolted awake by a striking quote from the article. It pointed out that while these coins are priced as if they were collectibles, they are not usually sold in large quantities. The quote also highlighted that if customers were to spend the same amount of money on more common products like Canadian Silver Maple Leafs, they would get a greater number of ounces for their dollar.

It was emphasized that their model operated on a non-commission basis. But who needs commission when one is able to sell at a markup of over 60%?

Actual currency was mixed in, specifically gold American Eagles. The markup on those coins is 3.3%. During the same 3-1/2 years, the coins experienced a growth of 58%.

Ultimately, it is advisable to invest in actual currency such as gold/silver Eagles and Maple Leafs when dealing with Advantage Gold. This will help you avoid unnecessary mark-ups on commemorative coins and protect your investment.

The review reflects the user’s personal experience with certain coins sold by Advantage. However, the user is updating their review to express their admiration for the company’s response.

Advantage reached out to the user within three days of the review. They connected the user with one of their senior leaders over the phone. He attentively listened to the concerns and sincerely expressed regret regarding the presentation of the coin education and offerings. It seems that the user is expressing dissatisfaction with being given the wrong impression regarding the value of RCM coins and their connection to the spot price of the metal they are made of. The assistant provided the user with various solutions to address their concerns and rectify the situation.

The user is updating their review to acknowledge the exceptional customer service provided by Advantage in response to their previous review.

It’s important to note that Advantage Gold has resolved these issues in a timely manner.

They have only received 3 to 5 complaints out of the nearly 1000 reviews they have received.

Some companies are spending millions of dollars on ads, claiming to give away free silver, doesn’t that sound too good to be true? It might just be. Learn more about these free silver giveaway scams in the gold IRA industry:

Advantage Gold Reviews You Must Read:

Advantage Gold has received countless praises from its customers.

Here’s a positive review below.

Scott Whitney says that upon receiving a recommendation from a trusted source, the user conducted thorough research on Advantage Gold and carefully examined their online reputation. After reaching out, Jay Hebert contacted the user, and their perseverance is truly commendable.

Despite facing various obstacles, he persevered and finally managed to establish a connection with us. Once the process began, there were some difficulties with the fund release and rollover control. Jay decided to involve Chelsey Jenkins, the Director of Operations, to address the issue.

During the conference call, Chelsey’s direct and efficient approach helped resolve the obstacles and bureaucratic hurdles that others were creating. With a solution for every concern, she successfully resolved the log jam. Jay proceeded to offer advice on diversifying the rollover by allocating it among different sizes and denominations of gold and silver, instead of putting the entire amount into a single type of coin or bar.

Advantage Gold reviews 1

Similarly, Devin says that Andrew demonstrated excellent communication skills by thoroughly explaining each step of the process. From the very first conversation, he efficiently assisted me in getting set up.

Andrew proved to be a valuable resource when it came to addressing the user’s inquiries regarding the acquisition and storage of precious metals.

Additionally, he patiently addressed the user’s concerns regarding their access to the metals.

The user’s entire experience was described as refreshing, as they received quality support from the team at Advantage Gold, which is a rare occurrence. It was the user’s first experience purchasing precious metals, and they were impressed with the team’s trustworthiness.

They highly recommend them to anyone who is unsure about who to trust.

Advantage Gold reviews example 2

This reviewer praises the company for their high-quality educational resources.

Advantage Gold reviews example 3

Craig says that he had limited understanding of metal purchasing, still had a clear desire to acquire Gold and Silver. Andrew Jordan, a representative from Advantage Gold, provided coaching and made the transaction a painless experience. The user felt at ease with the process and had all their questions answered by him.

Advantage Gold Lawsuit, Complaints and Reviews Summary

I hope you found this guide on Advantage Gold lawsuit, complaints and reviews helpful. Please consider dropping a like if you think others would it useful as well.

By the way, if you have over $100k in your IRA, this company will give you a free gold coin of your choice.

If you have less than $50k in your IRA, I personally recommend you work with Preserve Gold, they are also offering free precious metals worth $25k with qualified purchases.

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