Read Birch Gold Group Complaints Before Investing
Reid Sletten- Birch Gold Group, Inc. is a precious metals dealer with headquarters in the United States.
- The company trades in gold coins and bars, silver coins and bars, platinum coins and bars, and bullion.
- Birch Gold Group's products and services include precious metals IRAs, precious metals storage, precious metals trading, and precious metals investment.
Birch Gold Group, Inc. (BGD) is a precious metals dealer with headquarters in the United States. The company trades in gold coins and bars, silver coins and bars, platinum coins and bars, and bullion.
Birch Gold Group's products and services include precious metals IRAs, precious metals storage, precious metals trading, and precious metals investment.
The company's website says it is "the largest precious metals dealer in the United States."
Birch Gold Group: An Overview
The investment company's name is Birch Gold Group. It is based out of San Jose, California, and it was founded by Eric Peritz, a self-proclaimed precious metals expert. Peritz began his career as a stockbroker in 1990 at Waddell & Reed. In 2002, Peritz started his own commodity brokerage firm, and a year later he founded Birch Gold Group.
Peritz claims that the Birch Gold Group offers investors access to "hard assets" including gold, silver, platinum, and palladium. Peritz claims that the company's "smart money" strategy is designed to produce higher returns compared to traditional investments.
Birch Gold Group is a precious metals mining company and an investment company. Its website indicates that the company's gold mining operation has "a low cost, environmentally friendly and socially conscious" mine in the historic Yukon Territory in Canada.
According to Birch Gold Group's website, the company has an "asset-backed" warehouse facility located in Toronto, Canada. The warehouse facility can hold up to 500 metric tons of gold.
Peritz claims that investors' portfolios will be less volatile and more profitable by investing in precious metals.
In January 2012, Birch Gold Group began offering its shares through a private placement.
In January 2012, Birch Gold Group began offering its shares through a private placement.
Recent Birch Gold Group Complaints
The Better Business Bureau (BBB) currently has 45 complaints filed against Birch Gold Group. The BBB gives the company an "F" rating, which is the lowest rating. The latest complaint was filed in December 2016 and states that the company is fraudulently soliciting customers.
2017 & 2018 Birch Gold Group Complaints
In 2017, the Better Business Bureau (BBB) received 21 complaints against Birch Gold Group. The BBB rating for Birch Gold Group is a C+, which essentially means that the company's products or services are satisfactory, but there are concerns about the company's business practices. The BBB receives thousands of complaints annually, and complaints are generally resolved when businesses respond to customer complaints.
2007 Birch Gold Group Complaint
In 2007, the Securities and Exchange Commission (SEC) charged Birch Gold Group with securities fraud. According to the SEC, the company used testimonials from former clients in its promotional materials, even though those clients had not actually invested in the funds. The company agreed to a $1.1 million penalty and to refund investors $3.6 million.
2008 Birch Gold Group Complaint
In 2008, the SEC charged the company with fraud. The SEC alleged that the company overstated the performance of its funds. The company agreed to a $2.5 million penalty.
Other Birch Gold Group Complaints
Birch Gold Group, like other similar funds, are not regulated by the Securities and Exchange Commission (SEC). This means that their funds do not have to follow the strict rules that the SEC requires. Also, their funds do not have to disclose their holdings to their investors. This can prevent investors from knowing what they are investing in or who is running the fund.
Gold IRA: Should You Open One To Save For Retirement?
The Bottom Line
Birch Gold Group, despite some drawbacks, is a precious metal company worth taking a look at. Now, for investors who want more information before making an investment in Birch Gold Group, they can do so by reading the company's SEC filings.
