My wife and I wanted to move our IRA accounts from stock to gold, we cashed in our stock and sent Superior Gold money to buy gold in December of '08 and January of '09.
We then waited for over a year for the gold to be transferred to our holding accounts at Sterling Trust Company, which was recommended to us by Superior Gold and should be considered a co-conspiritor.
When the precious metals were finally delivered to Sterling Trust, the value of my wife's account was 15% less than the original amount of cash, and my account was short by a similar amount.
Superior Gold informed us then that there was a 30% fee charged to our accounts for purchasing the precious metals; and that if they bought the metals back from our accounts there would be another 30% fee.
We could have left our cash in a saving account at a local bank drawing 1/2% interest and been better off.
All the while we were waiting for the precious metals to be transferred to our accounts, Carl Lacy, our Superior Gold representative kept telling us how great our investments were doing, that gold had gone up so much that our accounts had doubled and more in the year we were waiting.
I would advise anyone and everyone to stay away from Superior Gold Group and Sterling Trust Company.
Dave, St Albans, West Virginia
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