Is Red Rock Secured A Reputable Gold And Silver Dealer?

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Author	Replies: 7 / Views: 1,555
ShieldWolf New Member United States 1 Posts	Posted 07/10/2023 2:44 pm Has anyone heard of Red Rock Secured? Are they reputable? Was looking at buying some non-cusip silver but the premium seems very high. Report this Post to the Staff

John1 Moderator United States 56855 Posts	Posted 07/10/2023 3:37 pm Report this Post to the Staff
jbuck Moderator United States 196278 Posts	Posted 07/10/2023 3:43 pm to the Community! Coin Collector Since 1978 Avatar Old Avatar 7070 Eisenhower Australia Canada World CCF Members on eBay CCF eBay Search Engine Report this Post to the Staff
westernsky Pillar of the Community United States 7732 Posts	Posted 07/10/2023 4:02 pm I don't know anything about that company, but if you let ANYBODY store metal that is "yours", but not in your physical possession, you are exposing yourself to being ripped off. Stories of metal fraud can be easily found on the internet. Matter-of-fact there was one noted here last week on this forum. Something about a silver dealer ordered to pay back $146m for 500,000 missing coins. When they went to the "storage vault" all they found were empty boxes with customers names and IOU's in them. Another one was Rust Rare Coin in Utah a few years back. Gaylen Rust, his now ex-wife Denise and their son Josh all served, or are still serving, hard time for their part in a huge metal fraud ponzi scheme. Just be careful, do your homework, hope for the best but prepare for the worst. Report this Post to the Staff
nfine Pillar of the Community United States 3510 Posts	Posted 07/10/2023 5:55 pm Type the company name into your browser and read what they're up to. The SEC charged the company and it's owner with fraud May 23 of this year. Report this Post to the Staff
Ty2020b Pillar of the Community United States 4680 Posts	Posted 07/10/2023 8:58 pm As soon as I googled "red rock secured" into google, "lawsuit" was the first auto fill word that popped up for me. Enough said. Report this Post to the Staff
CoinHunter53562 Pillar of the Community United States 2049 Posts	Posted 07/13/2023 5:34 pm Quote: I don't know anything about that company, but if you let ANYBODY store metal that is "yours", but not in your physical possession, you are exposing yourself to being ripped off. Seems like this has happened more than a couple of times. Tulving comes to mind as does Bullion Direct. Why anyone would want to have their PMs stored by any kind of 3rd party is something I can't wrap my head around. Report this Post to the Staff
westernsky Pillar of the Community United States 7732 Posts	Posted 07/16/2023 12:07 am Quote: Are they reputable? So, Shieldwolf, the short answer to your question is probably not. These firms are started with good intentions but things easily get out of hand and the owners/managers get over-whelmed and all-heck breaks loose. The road to hades is paved with good intentions! A lot of people travel down that road! Report this Post to the Staff
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