Gold AllianceReviews of goldalliance.com

I realize this company no longer exists but I would still like to voice my experience. I purchased $40k in gold and silver. It was sent to a warehouse where the initial statement showed they received only $22k. My gold was purchase at nearly 4 times that day's spot price. The contract says that some money might be withheld for "advertising, office and commission." That means that 18k or 45% of my investment was deducted and never made it to the warehouse. I have been robbed. Shortly thereafter, Gold Alliance was closed/sold. Somewhere in California Dale Westervelt, the former owner and now retired, is sipping some umbrella drink on a beach with my money! That money represents the last of my retirement money and I need it desperately. My financial advisor calculated my investment, and due to the rising price in gold and silver, said is should be worth $94k. Two different lawyers have recommended that I contact the FBI.

When I purchased some gold and silver from Gold Alliance, Fred Abadi was very helpful and professional and I enjoyed working with him. But when I needed to sell some of my gold, I was sent to Kyle who told me they had to make a 20% profit when they bought the gold back!! Fortunately, the spot price of gold had risen roughly 20% in the meantime so I was able to at least break even on my sale but I'll never use Gold Alliance again when I need to sell my gold. Buyer (actually, seller) beware!!

Original post: 2/22/21 Very difficult to get prices. Felt like straightforward questions were avoided that could have tied the agent down to lower spreads and essentially make less on retail. Felt like a few times I was steered to purchase coins/bars I was unsure about when I mentioned often I was trying to stick to items found on websites like BullionValues, etc. so I could establish a baseline on a safe, wise decision. GA's stock seemed very limited when it came down to the final hour. To sum it all up, I wouldn't suggest Gold Alliance if you're a beginner and can't hold your own while discussing big purchases. To end this review with something positive, they are very professional people and their fees are some of the lower fees out there. UPDATE 3/11/21: (after seeing CEO's response) They say conflict raises the dross from the depths of people's hearts. One, every distributor opens up an account for free. It was difficult to get prices from GA's broker until the final hour when they saw my money in the custodian's account I went with. Two, a novice wouldn't call these coins "exotic." They're mass produced, generic coins (AU kangeroo 1oz) and GA's prices were significantly higher with the only generic coin prices they shared with me, so I assumed they would have been significantly higher with the kangeroo if they would have had any in stock. I was originally told it was a five months wait for the Am Eagle and encouraged to go with an "exotic" sceptre (India) instead. My original motivation to write this review was to help beginners to take caution when pursuing a gold IRA with GA, encourage research, and advise to talk to several brokers to compare service. It was not intended to bash GA. All that said, there's something not healthy with this place. After 20 minutes of leaving my honest review (was 3 stars) of how I FELT when considering their business, I was called up and pressured to remove my post saying "the CEO was going to listen to all of our phone conversations (that I didn't even know were being recorded)," and I was called "vindictive" and "small" by the broker! I was TOTALLY shocked! Then, as you can see with the response below, I was called a liar and the CEO used leverage by stating "the BBB rejected my review." (exact same review as above btw) Come to find out, the BBB's rating system is seriously flawed! Check out how their system works by googling "is BBB legit." $$$! I dropped the rating to two stars even though it should probably be one. Trying to be honest by leaving room for misinterpretation. Last point I'd like to make is, I was never a "customer" because I never felt a peace about teaming up with this company. Now I know why! Holy cow! (eyes wide open with shock) To anyone who reads this review: Also take caution that Trustpilot only had ONE review in February of 2021 against GA! I also learned that businesses can "reset" their reviews at many review sites, including Google.