Morgan Gold Overview

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Company Name: Morgan Gold

Website: http://www.morgangold.com/

Founded: 2010

Owners: Rodrigo Iglesias (CEO), Alex Collins (VP)

BBB: http://www.bbb.org/sanjose/business-reviews/gold-silver-and-platinum-dealers/morgan-gold-in-torrance-ca-263175 – Not BBB Accredited

BBB Rating: F

BCA: http://www.businessconsumeralliance.org/report/morgan-gold-llc-100095801

BCA Rating: B

Trustlink: http://www.trustlink.org/Reviews/Morgan-Gold-LLC-206388364

Trustlink Star Rating: 5/5

History:

  • 1 complaint with BBB in last 3 years

  • 6 complaints on BCA

  • 4/22/2014 complaint on BCA, “I sent Morgan Gold a retirement rollover check for 39,083.95 to purchase gold. Fees and charges listed were 280.00 dollars. This left 38,803.52 for gold purchase. Received invoice dated 8/10/2011 that 14.4 oz of gold was purchased. However when I received my first statement from the trust company the value list as of 9/30/11 was $23,449.01. The market value of gold then was around $1626 /oz. and hadn’t dropped. When I called to inquire why the value was only 23,449.01. Was told by Alex it was listed that way for IRS reasons. I thought that this was strange explanation. On March 21st 2014 I decided to cash out investment. Upon looking very closely at my investment 14.4oz of gold times around 1626/oz equals $23,414 . This value closely agrees with first statements value. They had $38,803.52 of my money. Where did the other $15,333 of my money go? Something stinks at Morgan Gold. I don’t buy the explanation that it was a IRS thing. There are definitely shady dealings going on behind the scenes there. I am filing a complaint with the State Attorney General’s office.”

  • 11/26/2012 complaint on BCA, “Misleading representation of the true and actual charge for investment coins during phone discussions or in written correspondence.”