Goldco complaints

I rolled over a 401(k) into a precious metals IRA in May 2023. Sr. Acct. Exec. Michael G. was my rep. He was well aware that I had limited knowledge about gold and silver coins. I told Michael that I was looking at investing in gold and silver bars because I did at least know that bars had a price correlation tied directly to the spot price. M.G. advised me not to get bars, and advised me to get coins, saying they would be a better value. I asked M.G. which coins would I be getting and how much they would cost, which he replied he did not know, he would have to see what they had in stock. I thought he would be choosing me coins that would still be regular bullion coins relatively equal to bars. Michael then asked me how I wanted to split up my metals. I told him that I wanted 50 gold, 50 silver. He then used my IRA money to pay for coins he chose without ever contacting me to tell me which coins they were, and how much they cost. I've now discovered this has resulted in an immediate 50+ devaluation of my IRA initial investment. He also without my consent changed my allocation to a 25 gold, 75 silver. I never consented to exclusive coins. My custodial valuation should equal my initial investment - a small markup + capital gains, not an 86 – 192 markup. These are predatory and deceptive practices. My requests for info in writing have been ignored. Read the surge, and see the pattern in the complaints against Goldco on BBB, Consumer Affairs, Trust Pilot since 2023. Resolution Sought -An itemized statement showing the exact spot price of the metals at the time of purchase, the unit price and the markup charged for each item. -A full refund of the amount I was overcharged, to be deposited back into my IRA account to rectify the initial deception, as well as the unauthorized re-allocation of my assets, and restore my account value to the level it should have been. - Current Fair Market Valuation as defined by IRA standards and Goldco's precise bid price to re-purchase met

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Goldco defrauded the majority of our retirement comprising of silver. Our account aggregate return over the past four years should have been over 200. How is it our account total show only an 18 return?! After purchase and doing research, we realized we were charged an extreme markup on the silver sold to us, which amounted to silver markups as high as 162 above spot! Their entire business platform appears to be based on deceiving clients. At the time this transaction occurred, we relied on the representations of our sales advisor, whom we trusted. Instead, Goldco put the company's interest first gaining for itself HUGE profits while we were left with immense long term losses! Goldco's sales strategy engages in deception and price manipulation. They absolutely cannot be trusted. Efforts to obtain a buyback quote on assets have been met with one stall tactic after another. Resolution Sought I would like Goldco. to remit $750,000 payment without delay. This request remains reasonable and fair, leaving Goldco with a substantial spread.

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