Midas Gold Group Review

Midas Gold Group Review

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If you are looking for a place to buy precious metal IRAs, bullion bars, and coins, it is smart to do your research on the Midas Gold Group.

They offer the competitive prices and quality in the industry, with a variety of products to fit your needs.

Whether you're looking for precious metal IRAs to invest in, bullion bars to store on your safe, or coins to add to your collection, Midas Gold Group has something for you.

Before we get started with this review:

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And now, back to the review.  

Midas Gold Group is a global precious metals company with its headquarters in Phoenix, Arizona. The company was started to help investors protect and create wealth. 

Founders of Midas Gold Group held the view that assets like gold and silver are important for diversification.  

They believed that such assets are not vulnerable to financial instabilities compared to other investments like real estate and the stock market.

Midas Gold Group Company Info


midas gold group homepage

Midas Group began its operations in 2007. The company is a proud member of several prestigious organizations. Having been in business for close to two decades, MGG has established itself as a leader in the precious metals industry.    

The values of the company are driven by the desire to help customers properly preserve and create more wealth. This is unlike other companies that prioritize profits over the interest of their clients. 

The history of Midas Group in precious metals dates back to the 1970s. The founding members of the company desired to offer the public alternative ways to store their wealth.

That’s what drove them to incorporate the group in 2010 with specialization in gold IRAs. The company helps customers build strong precious metals portfolios in coins and bullions.

The website has a lot of educational material including price charts for different precious metals. This makes it easy for investors to make informed decisions. 

This has earned them the reputation as a trusted IRA company in the United States.  Being a multinational organization, Midas Gold Group operates in all 50 states with its physical headquarters located in Phoenix, Arizona.

If you are looking for a way to diversify your investment, the Midas Gold group is the best company to partner with. You will get proper advice from highly experienced professionals on how to invest in Gold IRAs.

Products and Services


  • Gold

Gold is one of the most preferred precious metals. It doesn’t matter whether you want to buy gold coins, gold bullion, or rare coins, Midas Gold Group has you covered.

The company provides a wide variety of gold products at affordable prices. All you have to do is choose among the various options available and start the purchase process.

  • Silver

Similar to gold, silver has for a long time been considered a private and tangible way of storing wealth.

In a world constantly faced with economic uncertainty, there’s no better way of protecting your wealth than investing in silver and other precious metals.

The history of using silver as a legal tender dates to 600 BC. Global empires such as Romans, Chinese, and Greeks minted silver coins and used them to trade with other goods and services.

  • Platinum

Platinum is sometimes referred to as “rich man’s gold”. It is a rare precious metal compared to gold and silver.

Platinum has throughout history been more expensive than gold. It is a soft and heavy metal. It is popular for its catalytic properties of speeding up chemical reactions without changing its form.

  • Palladium

Although most investors are still unaware of palladium, its performance as an investment tool has been on a steady rise in recent years.

  • Rhodium

Rhodium has never been viewed as an investment precious metal the way silver, gold, and palladium are viewed. But is the rarest precious metal compared to gold and others.

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How to Buy from Midas Gold Group?


The process of buying different products from Midas Gold Group is simple:

  • Draft Your Portfolio

There are dedicated account representatives who can take you through this process. The company has a team of professionals who have vast experience in trading precious metals and financial assets.

  • Fund Your Account

You can fund your account through a check, IRA transfer, or bank transfer. Midas Group accepts different modes of payments.

  • Verify Your Order

After making your payment, you should confirm with the company’s trading and compliance desk. They will review the order and communicate any relevant information to the customer.

  • Receive Your Order

The final step is to receive your order securely and confidentially. It will take a few days for your order to be delivered. Midas Gold Group insures all their shipments against any damage or loss.

Midas Gold Group Reviews & Complaints


Midas Gold Group has been in business for many years. The company describes itself as one of the most trusted precious metals dealers. Midas Group deals will a variety of precious metals including gold silver and palladium. 

Although the company heaps itself with a lot of praises, there have been complaints from a section of clients who claim they were duped into deals that they didn’t like.

It may not be easy to verify their claims but it raises questions about how the company handles certain issues.

Here are reviews from real customers:

"I sold "junk silver" on 2 occasions in the last months.First sale was $500 of dimes and second was $1,000 of quarters. I wanted to sell locally and the T.0. location was with 2 hours drive of the location of the 99 pounds of coins. Very satisfied.

Would do business again if had additional "bags" to sell. Price was competitive with posted prices elsewhere taking shipping costs into consideration. Also shipping risk."

- Ron H. on BBB

"We have had a great experience at Midas Gold Group this past year! We worked with Ken in Thousand Oaks and Addison in Phoenix. They were both excellent to work with. They were very knowledgeable, kind and patient with all our questions."

- Cindy N. on Google

Midas Gold IRA


gold price chart

The word IRA is popularly used to describe a retirement plan of owning physical gold or any other precious metal. Midas Gold Group however helps customers who hold several retirement plans that can be used to own gold directly. 

Some of the common IRA plans include the following:

  • ROTH IRA
  • Traditional IRA
  • Simple IRA
  • SEP IRA
  • 401(k)
  • Rollover IRA
  • Thrift Savings Account (TSP)
  • 403(b)
  • Health Savings Account (HAS)

There’s no major difference between a gold IRA and any other IRA. You can still contribute annually and use the funds to buy physical gold. On the other hand, you can sell gold and move your money to a different custodian.

You are allowed to take distributions similarly. Distributions can be issued in-kind or you can decide to sell your gold and move funds.

Why Gold in Your IRA?


There are many reasons why you should have gold in your IRA including the following:

  • Diversification

Opening a gold IRA gives you a unique opportunity to diversify your investment portfolio. This means being protected from external factors such as political instability, credit contraction, geopolitical tensions among others.

  • Gold is stable

Gold is a stable asset compared to other investments like the stock market and real estate. It is not easy for the price of gold to be affected by economic crises.

  • Gold is more profitable

The price of gold rarely declines because of external factors like inflation. You are sure to make profits when things get tough economically.

Gold IRA Rollover with Midas Gold


A gold IRA rollover is the process of moving a retirement account to a self-directed IRA with physical precious metals. Here’s is how Midas Gold Group can help you:

  • Select the right IRA custodian
  • They will issue you with a pre-filled form to facilitate the opening of your new IRA account
  • Help you choose an insured depository company for your gold
  • Help you with the entire process of purchasing and delivering physical gold to your preferred custodian

Below are some questions you should ask when dealing with an IRA rollover:

  • Who will be your IRA custodian?
  • How much fee will the custodian charge you?
  • Where is your gold most safe?
  • Who will insure the gold in your precious metals depository?
  • What type of precious metals should can you hold in an IRA?

IRA Custodians


Other than having a trusted and reputable precious metals dealer, it is also important to have an IRA custodian. This is a licensed and insured trust company charged with the responsibility of reporting the assets in your retirement account.

The custodians usually hold IRA investments in form of paper like bonds, stocks, annuities, and mutual funds. Most conventional custodians don’t provide investments in tangible assets like gold. The following are the roles of an IRA custodian:

  • Offer secured and insured storage
  • Send quarterly IRA statements and evaluations to respective clients
  • Ensure your IRA meets all legal requirements
  • Handle distribution requests
  • Be licensed with the US government as a custodian

Midas Gold Group has IRA experts who have a fair amount of experience working with renowned gold IRA custodians. They will be instrumental in helping you open an IRA account and ensure nothing goes wrong.

The company will also assist you with future transactions including rollovers, the sale of assets, and distributions.

Pros and Cons


Pros

  • They offer precious metals IRA: the company provides IRA in collaboration with custodians like Equity Trust Company, New Direction Trust Company, and Kingdom Trust.
  • The company has a buyback program: This allows investors to sell back their precious metals to the company
  • They have a wide range of coins and bars including rhodium.

Cons

  • Poor customer ratings and reviews
  • The company is not a gold IRA custodian

Is Midas Gold Group a Scam?


Midas Gold Group entered into the precious metals business in 2007. The company has grown over the years to become a somewhat trusted precious metals dealer.. 

Although there are a few things that the company is not doing right, it would be unfair to call it a scam.

Conclusion

In general, Midas Gold Group is not a scam. While there are certain areas where the company needs to improve, the truth is that many people have benefited from the services offered by Midas Gold Group from the time it was launched.

Midas Gold Group has a modest track record in the precious metals industry, but we do not recommend them.  

They are not a scam, but they are not the best choice for gold investments and certainly not IRA's, like other companies we have written about on this website.

You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:

>> CLICK HERE to read our list of the Top 5 Gold IRA Companies <<