Gold IRA Scams to Avoid: Protect Your Retirement
⚠️ The Gold IRA Industry Has Bad Actors
While many companies are legitimate, scams cost investors millions annually. Learn the warning signs before you invest a single dollar.
Top 6 Gold IRA Scams
1. "Home Storage" IRA Scheme
Companies claim you can store IRA gold at home in your own safe. This is illegal.
Reality: The IRS requires storage in approved depositories. "Home storage" triggers immediate taxes and 10% penalties on your entire IRA balance.
2. Numismatic Coin Trap
Salespeople push "rare" or "collectible" coins with 50-100% markups, claiming they're better investments.
Reality: Most "numismatic" coins have no collector premium—just inflated dealer profits. Stick to bullion coins and bars.
3. High-Pressure "Limited Time" Tactics
"Gold prices are about to skyrocket!" "This offer expires today!" "You'll miss out if you don't act now!"
Reality: Legitimate companies don't pressure you. Take your time—if they won't let you, walk away.
4. "Exclusive" or "Rare" Coins
Salespeople claim certain coins are "IRS-approved exclusives" unavailable elsewhere.
Reality: IRS rules are public. There's no secret list. Standard bullion (Eagles, Maple Leafs) is all you need.
5. Hidden Fee Structures
Companies advertise "no fees" but bury costs in metal premiums, spreads, or obscure charges.
Reality: Always request a complete fee schedule in writing. If they won't provide one, move on.
6. Fake or Unregistered Companies
Scammers set up professional-looking websites, take your money, and disappear.
Reality: Verify BBB rating, check for complaints, confirm physical address, and search for lawsuits before investing.
Red Flags Checklist
- 🚩 Promises of guaranteed returns
- 🚩 Pressure to decide immediately
- 🚩 Won't provide written fee schedule
- 🚩 Pushes "rare" or "collector" coins
- 🚩 Claims home storage is legal
- 🚩 No BBB listing or poor rating
- 🚩 Uses fear tactics about economy
- 🚩 Vague about custodian/depository
- 🚩 No physical address/phone
- 🚩 Recent/multiple lawsuits
Real Companies That Failed
Even "established" companies can collapse:
- • Regal Assets (2024): Confirmed fraud, owner arrested, investor funds missing
- • Gold Alliance (2025): Collapsed Q4 2025, customer complaints
- • Lear Capital: $6M FTC settlement for deceptive practices
How to Protect Yourself
- ✓ Check BBB rating: Look for A+ with accreditation
- ✓ Read reviews: Trustpilot, Google, Consumer Affairs
- ✓ Verify track record: 10+ years in business preferred
- ✓ Get everything in writing: Fees, products, guarantees
- ✓ Take your time: Never rush a retirement decision
- ✓ Ask about custodian: Should be a recognized name
Stick With Reputable Companies
The best protection is working with established, well-reviewed companies. Our rankings only include A+ BBB-rated firms with clean track records.
See our trusted Gold IRA company rankings →