Are you thinking about investing in Capital Gold Group? You might be wondering if it's a reliable investment partner or not. The company is a familiar name in the precious metals industry, but there are conflicting opinions, so it is critical that we first examine its strengths and weaknesses.
As a professional in the industry for over two decades, I thoroughly evaluate the pros and cons of Capital Gold Group (CGG) in this detailed review. Keep reading to explore whether CGG is a reliable investment partner.
What is Capital Gold Group?
Capital Gold Group is a company that buys and sells gold. Found by Jonathan Rose in 2000, the company went online in 2003 and scored endless positive reviews from its clients.
Yet, it's concerning that even with a huge list of positive reviews online, the company was reported to file for bankruptcy in 2019. As I further researched its bankruptcy, I found negative reviews about the company’s inability to ensure its existing customer’s investment security.
Moreover, their website is no longer operational. Some reviews say the company moved its website from www.capitalgoldgroup.com to www.goldira.com. However, when reading the latter website, I couldn't find any mention of Capital Gold Group, making it difficult to confirm whether CGG has rebranded as Gold IRA.
Despite its inaccessibility online, I found the company’s contact information and address on its Facebook page.
- Address: 21700 Oxnard St, Ste 600, Woodland Hills, CA, United States, California
- Email: Info@StartWithGold.com
- Contact No: +1 800-510-9594
What Does Capital Gold Group Offer?
With decades of experience in the precious metals industry, I believe the best way to learn about a company is by examining its client reviews. When I looked at customer comments and online reviews for Gold group, I found the following about CGG's products and services:
Capital Gold Group assists investors in adding gold, silver, platinum, and palladium bars and coins to their investment portfolio. To access this service, investors can connect with their specialists to learn more about their products and open investment accounts with the company. According to my research, the company offers the following precious metals investment options:
- Bullion Bars
- Bullion Coins
- Numismatic Coins
- Investment/Retirement Vehicles
Investors can also open gold IRA accounts with Capital Gold Group. The accounts are managed by an outside custodian on behalf of the company. Considering my own experience, employing an external custodian for IRA accounts may have advantages, but it also increases investors' costs due to additional administration fees.
Nonetheless, because Capital Gold Group does not have a website, some evaluations imply that Gold IRA, a division of Midas Gold Group, handles IRA transactions for its clients. Hence, if you plan to open an IRA account, you can opt for Gold IRA. It is also worth mentioning here that transferring your IRA account from another financial institution to Capital Gold Group takes around 21 days.
Below is a list of charges that you may have to bear when opening an IRA account with the company:
- Fees for Initial Setup
- Annual Administrative Fees
- Storage Fees on an Annual Basis
- Purchase Requirement
- Preferential Depository
Here again, it's unclear whether the company has just changed its name to Gold IRA because the other website details are confusing. Moreover, certain internet assessments indicate the company may be defunct. That is why I recommend staying away from Capital Gold Group and look for more reliable alternatives within the precious metal industry.
Although Capital Gold Group is said to have rebranded as Gold IRA, the latter website does not publish prices or fees for the products and services it offers. The only way to find out is to get in touch with their team.
Furthermore, IRA fees vary based on the custodian you will be dealing with.
Ratings on Consumer Review Sites
Capital Gold Group is no longer listed on Better Business Bureau, one of the most trusted consumer review sites. However, I did find reviews about the company on TrustPilot, and they are rated 3.2 out of 5 stars.
Considering the company’s bankruptcy in 2019, the website had nine 1-star reviews, with only one review visible that was posted in the same year. This review mentioned how a customer got scammed by the company when he wanted to liquidate his assets. It further stated that the company took back the assets and failed to pay back its value to the customer by declaring that it had filed for bankruptcy. Prior to 2019, the reviews about CGG were highly positive.
These mixed reviews keep the company’s position and reliability uncertain at present. I would suggest you check out one my article on the best precious metals companies instead of using Capital Gold Group.
Pros & Cons
Undeniably, Capital Gold Group is a well-known name in the precious metals industry. It boasted a solid reputation and numerous positive customer reviews prior to its bankruptcy in 2019. However, despite its great history, the company’s bankruptcy leaves room for doubts about whether it is still reliable, or even operational.
After conducting thorough research on this company, and with my extensive experience investing in this industry, I suggest you look for better alternatives such as Goldco or Augusta Precious Metals. You can also have a read of my article where I discuss the best precious metals companies in the US.
Frequently Asked Questions
According to online reviews, BBB used to rate Capital Gold Group with an F grade. However, the company’s page is no longer active on the review site. Moreover, its positive reviews on sites like Trustpilot were posted around 2016-2018. This makes CGG’s positive reviews outdated and unreliable if you want to make an investment decision at the present time.
As per my research and relevant experience, Capital Gold Group has a track record of providing quality investment services and products. This limits the possibilities of fraud risks within the company. However, there are too many complaints and a lack of clarity surrounding the company's brand and website, making it an unreliable investment partner at present.