Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:07/29/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  In November on 2022 Red Rock liquidated my 401K to Gold and Silver coins and put them into a depository. I have received 2 statements, #1 gave the dollar amount that was in my 401K as being deposited. Statement #2 shows I have lost almost 60% of what my 401K was worth and what they sent to the depository. And to top it off the Depository that holds my coins DROPPED RED ROCK from their acceptable list, they will not deal with them. I was assured that the price would go up... I know not a guarantee. But Gold and silver have been doing nothing but going up since last November. And now I see that the SEC has this going: Securities and ******************* v. Red Rock Secured, LLC et **** *** 2:23-cv-03682 (C.D. Cal. filed May 15, 2023)Litigation Release *** ***** / May 15, 2023 I retire in two years and this isn't going to help. I would like a refund of the fees that were not discussed as being 60% of my 401K

  Business Response

  Date: 08/01/2023

  I recently spoke with both ****** and ***********************, following up with their BBB Complaint, looking to get some feedback and see how we could move forward. ***** let us know that they had spoken with the Senior Account Executive and are quite satisfied. There was confusion between melt value and retail value and since their conversation, they are comfortable and happy with their precious metals purchase. She let me know that they had no issues reaching out to the BBB to bring down their complaint / **** it resolved. Both parties are very happy with this outcome.

• Initial Complaint

  Date:06/26/2023

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  THIS COMPLAINT IS IN CONJUNCTION WITH BBB COMPLAINT JUST FILED BY MY BROTHER, ****************************,.WE DID A GROUP/JOINT PURCHASE BECAUSE HE HAS AN EMAIL AND I DO NOT. SEE NOTATIONS IN DOCs REFERENCE MY NAME: "*****" [DLK] and MY BROTHER'S NAME "******" [DCK],,,,,,,,,,,,,,,,,,,,Transactions 7/28/2022 and 10/26/2022 I PAID Red Rock $75,000 IRA ** to rollover into Silver Coins IRA **** converted $23,827.17 approx. of $75,000 to coins and because they marked up the coin purchase price (+130%) the rest they pocketed. Misrepresentation?/! FRAUD?!I have attempted to discuss the Difference in Money involved and they tell me the difference is Value Adjusted for "IRS TAX Reasons" !?Equity Trust/Institutional [Custodian] ************************************* Rock Sales/Purchase Invoice (7/28/22) ****.#**** [$50,000]Red Rock Sales/Purchase Invoice (8/8/22) ****. #**** [$25,000]SEE: Remarks and Attachments for Reference........

  Business Response

  Date: 07/07/2023

  Our Client Relations ******** Mr. ****************** reached out to ************************ along with his sister ********************* on the same call, upon reading this complaint regarding his account with Red Rock. They had a very open conversation about his concerns regarding the two complaints regarding Red Rock Secured, the difference in melt value versus retail value, the assets that he purchased and how he came to posting a complaint. Both parties heard the other out with a very open and candid dialogue, unfortunately, no end result was met. ************** is aware of Red Rock's position and as he can understand it, does not agree with it. He was very specific in thanking ************ for his time, but he will not be bringing down the complaint. ************ thanked him for his time and his honest feedback. ************** was told that he is more than welcome to continue the conversation if any additional questions or concerns were brought up, as we are more than happy to oblige. 

• Initial Complaint

  Date:06/23/2023

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Transactions 7/28/2022 and 8/8/2022 We PAID Red Rock $400,000 IRA ** to rollover into Silver Coins IRA **** converted $ ********** approx. of $400,000 to coins and because they marked up the coin purchase price (+130%) the rest they pocketed. Misrepresentation?/! FRAUD?!I have attempted to discuss the Difference in Money involved and they tell me the difference is Value Adjusted for "IRS TAX Reasons" !?Equity Trust Equity Trust/Institutional [Custodian] ************************************* Rock Sales/Purchase Invoice (7/28/22) ****.#**** [$250,000]Red Rock Sales/Purchase Invoice (8/8/22) ****. #**** [$150,000]SEE Remarks and Attachments for Reference.

  Business Response

  Date: 07/14/2023

  Our Client Relations ******** Mr. ****************** reached out to ************************ along with his sister ********************* on the same call, upon reading this complaint regarding his account with Red Rock. They had a very open conversation about his concerns regarding the two complaints regarding Red Rock Secured, the difference in melt value versus retail value, the assets that he purchased and how he came to posting a complaint. Both parties heard the other out with a very open and candid dialogue, unfortunately, no end result was met. ************** is aware of Red Rock's position and as he can understand it, does not agree with it. He was very specific in thanking ************ for his time, but he will not be bringing down the complaint. ************ thanked him for his time and his honest feedback. ************** was told that he is more than welcome to continue the conversation if any additional questions or concerns were brought up, as we are more than happy to oblige. 

  Customer Answer

  Date: 08/01/2023

   
  Complaint: 20207130
  
  I am rejecting this response because:

  There was NO Resolution!! FIRST FALSE Statement -- The client relations manager did not  speak to my Sister and I !! I was the Only one on the phone with this mgr!! It was to be a conference Thre Way call !?

  We did not have an Open Converstaion and was only one sided. There was No Explanation or mention about the (100-130%) Mark-Up they hit us with based on their Original -Email Phishing Offer of 5% markup Maximum = FRAUD!! Actually in our case the Mark-Up was (177-206%) as verified by a Reputable Coin Dealer! Has ZERO to do with "Melt Value and Retail Value on their "Special" coin that ONLY they Sell at their own Self Determined Price and varies on whether We are Buying the Coin -OR- selling the same coin. when it comes to Selling - They (Red Rock Secured) -aka- American Coin (NEW Name) are the ONLY ones to offer a price over Spot. BUT at the time of Buy -Back They Determine dthe price (Lower than it should be) AND Mark Down our Final $$ amount by 29%!! So ALL IN ALL we pay 177-206% MARK-UP and then PAY Them another 29% to have them Buy Back their "Special" coins. WE NEVER STARTED OUT WANTING ANYTHING "SPECIAL" BUT WAS TALKED INTO THESE OVER PRICED Metals!! FRAUD--MISREPRESENTATIONS--FALSE STATEMENTS. WE are not the only ones complaining. The SEC (Case-Complaint#2:23-cv-03682) + CFTC (Case-Complaint# 2:23-cv-03680) have approximately 950+ Other individuals included in the ongoing Investigation/Litigation (5/15/2023).

  Red Rock Secured aka ***************** The New Name switch to avoid Bad Reviews/Complaints from previous coin sales at a minimum 100-206% MarkUps.

  I was not satisfied and in No Way happy with the end result of this call. A resolution would be reimbursement for over charging us on the Orig. purchase FEES at the Mark-Up of 5% as we should have gotten reference the advertised Original Phishing Email we received in early Spring 2022. ReImbursement of this difference would be a Satisfactory Resolution.

   

  Business Response

  Date: 08/30/2023

  It is unfortunate that these customers, *********************** and *********************, remain unsatisfied following their discussion with ***************** of Red Rock. But unfortunately, their complaint rests on an inaccurate recitation of the facts. Here are some examples of important inaccuracies underlying their complaints:

  
  First, these customers say that Red Rock made no mention of the markup. That is not correct at all. Each of these customers like all of ********* customers signed ********* Transaction Agreement, which includes a section that expressly defines and describes ********* markup on premium coins. Specifically, the Transaction Agreement that *********************** and ********************* signed before purchasing premium precious mental coins from Red Rock says:
  Mark-up is the difference between the Purchase Price Clients pay for Products and the price that Red Rock pays for such Products. The mark-up can range anywhere from 5% to 120% depending on the type of coin and the fair market value at the time.
  Importantly, Red Rock disclosed its markup even though it was not under any legal obligation to do so.
  

  Second, the markup that Red Rock charged on the premium coins that these customers purchased was not, as they say, 177% to 206%. That is not correct. The markup was approximately (within 10%) of the markup range for premium coins that was disclosed in the Transaction Agreement they each signed (which, again, was 5% to 120%).
  

  Third, these customers complain that the price Red Rock charged for their premium coins had nothing to do with melt value of the coins. But again, the fact that the price of the coins did not directly correspond to their melt value should not have come as a surprise if these customers had read the Transaction Agreement that they signed before completing the purchase. In that agreement, Red Rock specifically told them:
  ********* Premium Products are priced at a premium above the value of the precious metal they contain. This premium is based on various factors, including, but not limited to, speculative interest, collector and investor demand, available supply, industry promotions, perceived value, and economic conditions. Premium Products may increase or decrease in value regardless of, and at times in opposition to, changes in the spot price of the precious metal they contain. 
  

  Fourth, there was never a phishing email or an email offering a 5% markup on the premium products that these customers purchased from Red Rock. That is not true. If there was an email that discussed a markup of 5%, that email was discussing the markup for common bullion, which was 1% to 5%. But *********************** and ********************* elected to buy premium coins, which have a higher markup as described and fully disclosed in the Transaction Agreement they signed before buying any coins from Red Rock.
  

  Again, Red Rock is sorry that these customers remain unsatisfied with their purchase. Red Rock has been in the precious metals business since 2017. Since that time, Red Rock has worked hard to constantly improve its business practices as necessary and appropriate. In fact, Red Rock has disclosed its markup to customers even without any legal obligation that it do so. How many other businesses disclose the markup on the goods or services they sell? ************** and **************, Red Rock is sorry you are unsatisfied. With respect, Red Rock recommends that you go back and re-review the Transaction Agreement that you signed before you bought any coins from Red Rock. If you do not have it, please let us know and Red Rock can provide you with a copy.
  

  Thank you.    

• Initial Complaint

  Date:03/21/2023

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I contacted Red Rock,to roll over my IRA,to silver. They did not inform me of the type of silver I would be purchasing. After making the purchase, I found out I had purchased silver coins. For the sum of *********. The silver was transfered to ******************** where it was valued at *********. When I questioned Red Rock about the difference they said ****** does not report the true value,due to tax purposes. But in fact they are giving the melt down value of the silver. So I feel Red Rock should have given me the option to purchace coins or bullion. Which is the true value of the silver.

  Business Response

  Date: 04/05/2023

  I reached out to **************** today, after reviewing his complaint and his account with Red Rock. We had a very open conversation about his concerns regarding the difference in melt value versus retail value, the assets that he purchased, the process of Buy Backs/liquidating assets and how he came to posting a complaint. I thanked him for his time and his honest feedback. I set an appointment up for him with our Client Relations Manager to speak further for clarification on all mentioned points. He is also open to my follow up that we have resolved this issue to his satisfaction. In line with their appointment, I feel confident this issue will be resolved satisfactorily on both sides. 

  Customer Answer

  Date: 04/18/2023

  After talking to Red Rock, they have assured me that my investments are secure and I am satisfied with their assessment of my account. I would like to recant my complaint with ********************* Please advice me if there is anything else I need to do.

• Initial Complaint

  Date:12/31/2022

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This business was contracted in 2020 to handle retirement finances and retirement savings. This company has consistently repeatedly habitually and chronically refuse to communicate in a timely manner being less than 10 months in the future has refused to make purchases when they are legally obligated authorized equivalent to a stockbroker refusing to make a purchase when the stock broker is told to make or sell a purchase and they don't make the purchase until weeks after it's been approved. They constantly have a rotating shift of employees that have disconnected phone numbers and they do not provide updated account representatives to maintain communication with the client on the account. I have to use a fourth and fifth level manager who is a regional director of swaths of the entire United States to get a simple question on my account taken care of. In the year 2021 they were significantly late and delaying providing required tax documents that required an extension in order to wait for them to provide their required tax documents. In addition they did not have a contact person who was responsible for accomplishing text documentation though they are in charge of the retirement. And in the year 2022 they have not provided value statements of ira as required by the IRS before January 7th 2023. This is December 31st, before the end of the year and they have not communicated and phone numbers have been disconnected. Well trying to reach out to them it is put on an endless loop of nobody answering the call while trying to reach out during normal business hours in the middle of the day nobody picks up the phone. I am seeking communication from the company as legally required that they are refusing representation as is there legal contract to provide. They are refusing repeatedly chronically habitually.

  Business Response

  Date: 01/18/2023

  Consumer Response /* (2000, 5, 2023/01/15) */ On January 9 Red Rock received the notification of complaint and reached out on the same day. ********* is a client relations specialist that Red Rock has brought on since November 2022 and recognition that Red Rock has broken trust with how they've treated clients in the past and while being on the Fortune 500 fastest growing companies in this specialty, Red Rock secured realized that they need to make sure to treat their customers with the respect that professional businesses treat customers with. I am pleased to say that ********* has established trust that Red Rock secured as an organization broke over the two years that we've done business with them. If ********* was not handling the situation the resolution to this complaint would be completely different. And I have good trust and faith that Red Rock will be on a better direction than what was happening in 2021 more closely related to what they were doing in 2019 when they were so fast growing in a good way this is a direction that **** wants to bring the company back to which is a positive. And part of the trust is **** has heard copious amounts of details about stuff that was not professional business of how to treat clients and is finding resolution so that these situations do not happen and because of the forensic research that he does of internal documents in order to put in place security markers that will prevent this kind of behavior in the future and will ensure that employees are properly trained to handle the situation the clients and properly educated on the type of transactions they are facilitating. By detail this because if my assessment deviates and that is fair and observable evidence. And if my assessment is correct and it is consistent then ********* is a major player that deserves credit for contributing to this company becoming what it is capable of doing and Aims in marketing promotion and mission statements to accomplish.

• Initial Complaint

  Date:10/20/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I contacted Red Rock to move my existing gold, silver' platinum coins to their vaults; they did not follow thru in a timely manner and it told them to return my metals to Gold Star. They sold my metals valued at roughly 100K and returned all neW metals valued at 40 K. I gave them no permission to sell my metals and I consider this breach of contract and fraudulent actions. If I have to take them to court I want all my attorney expenses paid by Red Rock. And if possible, pain and suffering monetary rewards. Also if this is punishable by jail time, I will support that as well.You do not jeopardize a IRA ******* in the manner they did. you must review their standing with BBB

  Business Response

  Date: 12/20/2022

  *** see attachment ***
  
  I have attached our response to *********************************** complaint. Please let me know if you have any questions or concerns.
  
  Sincerely,
  *************************, Esq.
  Legal Counsel
  See Attachment/File: Business Response.pdf

  Customer Answer

  Date: 12/20/2022

  (The consumer indicated he/she DID NOT accept the response from the business.)
  They said nothing about what they would, only that they converted my coins to "premium"
  I turned in a response of what I need and want thru the OK State Attorney General yesterday. I give them 30 days to reply.
  
  I want a complete list of what they received from minute one they had them and value of those bullion coins,etc. Total received value.
  I want a graph of prices of gold, silver and platinum while Red Rock sat on the coins and did nothing.
  I want a complete list of what was sent back (they called the new coins they returned Premium) and a list of all they returned (over the course of many days) and the value of those coins.
  If the value of what Gold Star sent them does not match (and possibly increase in some value) I want the value of coins, etc the first moment they were administrators to be returned to back to me.

  Business Response

  Date: 03/21/2023

  My apologies for the delay. Red Rock Secured has been working with ********************** on reaching an agreement from the time of the initial complaint. It is my understanding that ********************** had bought into premium assets, when in actuality she preferred common bullion. Through many correspondence with explanations from both sides regarding the two types of assets, Red Rock bought back her premium assets and gave her the bullion she favored. The process was finalized this past month and all sides have settled.  

• Initial Complaint

  Date:09/30/2022

  Type:Customer Service Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Hello, I am submitting a complaint against Red Rock Secured. I have attached my statement below as well as the DFPI Form. If needed I have 7 weeks' worth of email in which Red Rock denied my liquidation request on 08/09/2022. Prior to that day Red Rock Secured sent my quarterly account statement on 08/08/2022. Red Rock Secured's fraudulent business practice, in denying my liquidation request, is in violation of federal law. I am a 70 year old senior citizen and a retired US Navy Veteran, trying to put my son through college. Please Help. subject; today is September 20, 2022, Here's what, l, can see and understand,îï��ï�� 1) myîï��ï�� 8/9/22 liquidation request has not been completed, 2) none of my kindly requests, have been acknowledged , nor completed; 3) l requested a signed copy with my signature, showing l gave REDROCK GOLD SECURED COMPANY, (RRGSC), APPROVAL,îï��ï�� for a 3 year hold on my Cokley accounts. l did not. 4) This is another unansweredîï��ï��GOOD FAITH request. 5) l requested , my last email to REDROCK GOLD, what's actions/ requirements needed for liquidation of all ********ccounts, with no response yet.-. Now, l understand THIS,- A)after 6 weeks delay of my 8/9/2022îï��ï�� liquidation request, not done;- B) REDROCK GOLD SECURED respondedby turning my account over to legal counsel;- C) COUNSEL,îï��ï�� THEN, going on vacation leave in the middle of my transaction liquidation request that's, IS NOW 6 weeks delayed by REDROCK GOLD SECURED;- D) NO replies to any of my request, ABOVE, so for, fromîï��ï�� REDROCK GOLD SECURED. I pointed out earlier patience has a limit too. NOW please understand and remember, it was not my actions/position, which opens these Floodgates. l am just a senior and veteran tryingîï��ï�� to provide for my family and pay my sons way through collegel have asked for only what's mine, by LAW. (CEA, Commodities Exchange Act), under the authority of CFTC commission, ************** DIRECTION. Allîï��ï�� the above has been RedRock Gold Securedîï��ï�� actions/response to me

  Business Response

  Date: 11/08/2022

  Business Response /* (1000, 8, 2022/11/04) */ To Whom it May Concern: There was a little confusion from this Red Rock customer as to how the Red Rock buy-back program works. Red Rock has always been willing to provide this customer with a return of his monies, however has needed to dialogue with the client to effectuate this. I have now spoken with the client at length and we have fully addressed all of his requests. To this end, he has informed me of his intent to pull the negative review immediately, but may not know exactly how best to do this. If you have any questions, then please call. Consumer Response /* (2000, 10, 2022/11/07) */ (The consumer indicated he/she ACCEPTED the response from the business.)