Red Rock Secured Review Explained 2023
Our reasons to recommend Red Rock Secured to any interested gold investors are plenty. What we perhaps like most about this company is that it found an unmatched way to stand out. The precious metals IRA industry isn’t short on quality competition, and it can be especially hard to go up against some of the biggest names.
If you don’t have a lot of experience that will give you some clout on the stage, a neat promotion is probably your best bet. In Red Rock’s case, they have both and more. Let’s first see what the company is about and how long it’s been in business.
WARNING: New update on Red Rock and how they have received a complaint from the SEC. Check out more here and make sure to do your due diligence.
In light of these events, we suggest you check out Augusta Precious Metals, which is a top choice for the precious metals IRA industry.
Augusta Precious Metals Review 2023: Read This Now
Affiliate Disclaimer: I receive a commission if you purchase any products or services through my links on this blog post.
About Red Rock Secured
With 13 years under their belt, it’s pretty obvious that Red Rock Secured is among the more experienced players in the field. It’s actually one of the oldest companies of this kind that we’ve come across. As you can probably infer by yourself, experience is pretty important when it comes to selecting a company that will manage your retirement account over the long term.
Red Rock is helmed by Sean Kelly, a veteran in finance who went into precious metals after seeing the destructive effects that the 2008 financial crisis had on people’s wealth. Not coincidentally, gold posted one of its best runs between 2008 and 2011, ending that stretch with an almost 10x price appreciation.
The metal is above that level right now, but there was a lengthy period of retracement after 2011 where many began to doubt the investment as a whole. It’s indeed surprisingly volatile, which is where Red Rock’s unique promotion comes in.
Red Rock Secured Price Protection Plan
We all want our investments to gain. When they lose, we can get a little flustered. In the case of gold, investors can oftentimes forget that the yellow metal is an assured gainer so long as we focus on the long-term chart. They panic sell, blame whoever advised them to invest in precious metals and are dissatisfied in general.
Red Rock Secured aims to cover some of this through their price protection plan. While not really precisely outlined, it seems pretty straightforward and with less caveats than you’d expect when hearing such a thing. As the name suggests, Red Rock covers the losses you might incur from gold or silver dropping in value over the short-term.
What are the caveats? Well, the price protection “only” lasts one week. It’s not exactly a negligible window, as gold or silver can gain 10% to 20% over a week pretty easily. The Red Rock Secured team reveals that, while not everyone is eligible for this program, as many as 90% of their customers qualify. Again, an overwhelming majority, so not much of a caveat. The last one to keep in mind about this promotion is that they cover the losses in non-cusip gold as opposed to cash.
If you’re a precious metals investor, you probably don’t mind. You can find out more about what non-cusip gold is on the Red Rock Secured website. It’s gold that has been made difficult to trace one way or the other, which should make it more appealing to a broader range of investors. So if you thought that term is going to denote some kind of waste gold that nobody wants, nope.
Offering the majority of customers a one-week loss covering is something we haven’t seen from any other precious metals company regardless of how far we look. It’s a unique promotion, to be sure, and one that makes the company stand out among what looks to be a regularly increasing number of competitors.
Are There Other Red Rock Secured Promotions?
The details of their other promotions aren’t exactly clear, but we’ll list them anyways. For starters, they say that you could qualify for up to $5,000 of free silver. What this means isn’t clear, but it might be an incentive to leave a positive review in case you were satisfied with their service.
To precious metals investors who open a Red Rock account with an investment minimum of $100,000 or over, Red Rock Secured offers a “white glove service”. Not sure what this means either, especially since their regular customers are treated pretty well by all accounts. Perhaps something extra in the form of customer education and advice?
The one other thing to mention is the fee waiving, which can apply up to a lifetime. It’s pretty rare to see a company offer to waive fees for the management of their account for a lifetime: Red Rock might again be the only gold IRA company we’ve seen do this. If we had to guess, how many years you have fees waived for is probably directly related to your precious metals investment minimum. Lifetime waiving is likely part of the aforementioned white glove service.
Red Rock Secured products
In terms of product listings, Red Rock Secured again stands out from competitors, but this time not in a good way. Their product offering, while certainly impressive, is listed almost as an afterthought. All of the products in the inventory are on the same page, divided in two categories: Bullion and Premium.
What happens if you have little to no familiarity with physical precious metals? You’ll have little choice but to look elsewhere, which kind of takes away from the whole hands-off-approach flair that gold IRA companies offer. This also makes it quite unclear what is available when. As opposed to just the usual “Call for pricing”, here we also have a “Call for availability”.
On the plus side, the products are very varied and cover both marquee IRA-eligible bullion and numismatics. They also cover all four precious metals, and to some extent. Here’s what is listed as generally available on Red Rock Secured’s website:
Bullion
1-oz Silver American Eagle
1-oz Gold American Buffalo
1-oz Gold American Eagle
1-oz Gold Bar
1-oz Gold Canadian Maple Leaf
1-oz Gold South African Krugerrand
1-oz Silver Bar
10-oz Silver Bar
100-Gram Silver Valcambi Bar
1-oz Silver Round
10-Gram Gold Bar
1-oz Silver Canadian Maple Leaf
10-oz Gold Bar
Gold Bar 1-Kilo
Gold Bar 50-gram Valcambi CombiBar
Platinum Bar 1-oz
Platinum American Eagle 1-oz
Platinum Canadian Maple Leaf 1-oz
Silver Bar 100-oz
Palladium Bar 1-oz
1-oz Silver South African Krugerrand
Premium
1/2-oz Silver Canadian Red-Tailed Hawk
1/10-oz Gold Canadian Red-Tailed Hawk
1-oz Gold American Eagle Proof
1/2-oz Gold American Eagle Proof
1/4-oz Gold American Eagle Proof
1/10-oz Gold American Eagle Proof
Gold American Eagle 4-pc Set
Gold American Eagle 2-pc Set
1/4-oz Gold Rose Crown Guinea
1-oz Silver American Eagle Proof
1.5-oz Silver Canadian Arctic Fox
1.5-oz Silver Canadian Polar Bear
1.5-oz Silver Canadian Polar Bear & Cub
1.25-oz Silver Canadian Rose Crown Guinea
1.5-oz Silver Canadian Grizzly Bear
1/4-oz Gold Canadian Arctic Fox
1-oz Platinum American Eagle Proof
1/4-oz Gold Canadian Polar Bear & Cub
5-oz Silver America the Beautiful
1/4-oz Gold Canadian Gyrfalcon
1.5-oz Silver Canadian Gyrfalcon
Gold British Queens Beast 0.25-oz White Greyhound 2021
1/4-oz Gold Canadian Red-Tailed Hawk
1-oz Gold American Buffalo Proof – Current Year
Franklin Half Dollar Circulated
1964 JFK Half Dollar BU
1964 JFK Half Dollar Circulated
Silver Mercury Dime Circulated
Silver Walking Liberty Half Dollar Circulated
Silver Peace $1 – Circulated
Silver Peace $1 – BU
Silver 90% Junk by Face Value
Red Rock Secured fees
Quite a few reviewers have mentioned that they’ve had a nice time buying bullion outside of a Red Rock Secured gold or silver IRA, which makes sense. Their minimum purchase for both a gold IRA and a regular transaction is definitely among the lower you’ll find out of any company of this kind. Here’s what you can generally expect in terms of fee structure:
· $10,000 investment minimum when opening a precious metals IRA
· $2,500 minimum on purchases of physical gold and other precious metals outside of an IRA
· $200 to $250 annual fee for custody and storage: this is waived anywhere between a year and a lifetime
· No clear markup on their products, though they mention that they avoid dealing in hidden fees or markups
· Free insured shipping on any order
Red Rock Secured custody and storage
Equity Trust, Red Rock’s preferred custodian, is one of the largest names in the industry. This company manages what’s probably tens of thousands of accounts, and you’ll see it come up with quite a few other precious metals IRAs companies.
Red Rock Secured doesn’t seem particularly insistent on using Equity Trust, though, saying that they can work with you to find a custodian to your liking if that one doesn’t suit you. Another custodian that is mentioned is Kingdom Trust, which brings us to an interesting point.
In what’s turning out to be quite a few traits unique to the company, Red Rock is offering to facilitate a home storage gold IRA to those who are eligible. Let’s get the obvious out of the way: you probably aren’t eligible. The requirements are stringent and the option is generally only there for those who have some kind of custodial firm running already.
While you will see most reputable companies steer clear from home storage gold IRAs and advise against them, Red Rock Secured offers them to eligible parties. And to prove they’re serious, they’re doing it through Kingdom Trust, which isn’t a small custodial company or one with a dubious track record. So in a sense, it comes off as yet another promotion that Red Rock is willing to tackle the subject of home storage gold IRAs while others won’t.
However, nearly all retirement investors will prefer the usual option of working with a third-party depository. Red Rock Secured mentions the Delaware Depository and Brink’s, with more options available to those who’d like to keep their precious metals in a specific state.
Buybacks
While most top companies tangentially mention buybacks on a conditional basis, Red Rock Secured goes the extra step and says they offer it to customers without too many clauses. Having your precious metals IRA company be willing to purchase precious metals from you is a major plus and makes any IRA liquidations you might have initiated much easier.
Red Rock Secured reviews
13 years in the business of volatile precious metals. They must have irked more than a few people, right? Actually, Red Rock’s review profile is not only among the better you’ll find, but also plentiful. On practically every relevant review site you’ll come across, you’ll find not only a great rating but an abundance of positive reviews.
On the Better Business Bureau page (BBB), they have a 4.78/5 star rating based on 90 reviews. They’re also accredited with an A+, the highest grade. Similar good feedback can be found on the Business Consumer Alliance (BCA) website, where they have a 5 out of 5 star rating based on 143 reviews. They’re again accredited with the highest rating, that being AAA.
Things are no different on ConsumerAffairs, which gives them a 4.9 out of 5 star rating based on 136 reviews. And, more of the same on Trustpilot, where they boast a 4.8 out of 5 star rating based on 161 reviews.
As already mentioned, virtually all of the feedback is good, and the satisfied customers have plenty of good things to say about the company. Attentive staff that doesn’t lack in financial expertise, quick and easy IRA setting up process, good pricing, good selection of bullion and so forth. Even in the few bits of negative feedback that the company has gotten, we can see that they indeed look like someone committed to customer care and satisfaction.
Red Rock Secured complaints
There’s not a whole lot in the way of either complaints or negative reviews. Generally, reviews don’t go under 3 stars, and there are very few with that rating to begin with. The BBB site shows 7 complaints in the last 3 years, all resolved to the customers’ satisfaction.
We can get a pretty good idea of what you can expect when working with the company from how they replied to the complaints. Far be it from us to judge, but those who have filed a complaint seem to have been a little hasty, usually a result of delays one way or another. And every time, Red Rock handled the case in a manner that shows plenty of diligence. The same presumably went on on the BCA website, where they have 1 complaint with a 100% satisfaction rating.
Red Rock Secured Pros and Cons
Pros
· Unique price protection plan that covers your short-term losses
· Great selection of products
· Great reviews
Cons
· No product pages
· In turn, little clarity on what’s currently available in the inventory
· No celebrity endorsements – who doesn’t like a familiar face?
Red Rock Secured Review – Verdict
Our verdict of Red Rock Secured can be summed up pretty easily: if you like it, go for it. The company’s negative sides are few and far between, and certainly don’t come across as something that would be a deal breaker. That goes both for those wanting to convert 401(k) retirement funds into physical gold, and those wanting to buy quality bullion.
Prospective customers in either category will undoubtedly find themselves taken care of well. All those satisfied customers must be onto something, and indeed, the more we look into the company, the more we like what we see. Regardless of the nature of your precious metals investing, we’d recommend Red Rock as either a one-time seller or someone to form a long term business partnership with.
Note: Please note that the content shared in this post is not intended to be taken as financial advice. As the author, I am not a certified financial advisor, so I cannot give financial advice. It is strongly advised to consult with a licensed financial expert before making any financial investments.
Ammar has started several online businesses and is a blogger who loves providing quality content to help others. He is involved with affiliate marketing, domain names, NFTs, and cryptocurrencies. Check out my blog if you want to learn more about these areas and business in general.
