Is this company legit?

2

Comments

  • mark_cycling00
    mark_cycling00 Posts: 535 Forumite
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    There are many ways that you can pay to be "featured" in newspapers or on TV so that doesn't add much legitimacy. 

    The company has lots of glowing reviews from users who have only ever reviewed that company which is suspicious but there are also reviews from genuine Google users. Some are negative and complain about high pressure sales techniques being used 

    I never experienced that at billion by post but I wouldn't choose to do that again, it's just so much easier to buy and sell a gold fund. 

    Also, typically when inexperienced investors post on here that they're going to put all their savings into something, it marks the peak of the price and it downhill quickly from there. So hope you have a well balanced investment portfolio already 

  • nisob
    nisob Posts: 15 Forumite
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    foofi22 said:
    I can't comment on their legitimacy, however if you are this concerned now maybe alarm bells should start ringing - particularly considering your recent experience.

    Even if they are a legit organisation, can you be sure you can access your invest whenever you want, or according to whatever terms they set out?  I'm sure they will happily take your money - can you get it back as easily?

    Why do you want to invest in gold, and also why do it with a friend? Do you trust your friend!
    Hi foofi22, thank you for your response. In terms of accessing the investment they either post you physical gold or save it in a vault (fee chargeable).
    Tbh, it is not 10s of thousands. I am putting a few thousand and i am planning to leave it to my friend if i am no longer existing. I understand your concern but this friend supported me through the times when everyone gave up on me.
  • nisob
    nisob Posts: 15 Forumite
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    Also. note that this outfit's purported London office address, which looks like a prestigious location, is in fact nothing of the sort. It's serviced offices, rented flexibly short term, and a 'virtual office' is also available. So it's basically a mail box that might get discontinued at any moment. Another red flag to add to the many already pointed out. 
    Thank you for your valuable response!!!
  • nisob
    nisob Posts: 15 Forumite
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    ColdIron said:
    Why would you even consider them? It's not like they are going to sell you cheap gold or better gold than anyone else
    Use a reputable vendor
    Why do you think a buy back guarantee is has any value at all?
    Thank you ColdIron. So thankful to you for sending me the list of reputable vendors.
  • ColdIron
    ColdIron Posts: 9,011 Forumite
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    You're welcome. Any of those sites will show you a selection of coins and their price without a 'consultation'
  • mikb
    mikb Posts: 553 Forumite
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    edited 25 January at 8:16PM
    There are many ways that you can pay to be "featured" in newspapers or on TV so that doesn't add much legitimacy.

    And context is everything. 

    Example: "Featured on the BBC and Martin Lewis Money Saving Expert!" 

    Looks good, right? Zoom out. 

    "Featured on BBC Watchdog, and described as a shameful scam on Martin Lewis ..." 

    Always find the source of any "featured by" claims. They may not exist at all, or may not be a glowing reference after all ...
  • brucefan_2
    brucefan_2 Posts: 167 Forumite
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    @nisob

    Please read the many sensible comments already posted on this thread and then think very carefully about what your plans for your savings are.

    Why gold?
    What do you expect this to do for your future financial well-being?

    Do you already have other savings?
    Do you have an Emergency Fund?
    Do you have a pension?
    What are your short/mid/long-term needs and goals?


    Why are you wishing to combine your savings with a friend's savings?

    Keeping track of which person is entitled to what could prove to be a bit difficult in the future.

    If you are determined to invest in gold, then look at the comments about gold ETFs

    If you are still determined for whatever reason to invest in 'physical gold', please research and use a reputable company


    £6000 in 2023
  • LHW99
    LHW99 Posts: 4,198 Forumite
    First Anniversary Name Dropper First Post
    The Pure Gold Company Ltd (registered as The Pure Gold Group Ltd on companies house)


    Going a little deeper into the information held on the Companies House website:

    The Pure Gold Group Ltd (No:07953325) was incorporated in 2012, as Josh Saul Ltd, and assumed its current name in 2015, and appears to have 1 Director, Joshua Saul.

    Mr Saul appears to have been "a person with significant control" (along with Lauren Saul) until 2022, when both were replaced by The Pure Holding Group Ltd. (No:13870068), which was incorporated in January 2022, one month before assuming significant control of The Pure Gold Group Ltd. Mr Saul is the only director of this company.

    Mr. Saul is also a Director of Wealth Concierge Ltd (09660789), which company also has The Pure Holding Group Ltd. as a person with significant control.

    He is also the sole director of ThePureStorageCompany Ltd (10147040), and is the "person with significant control".

    I find these types of company structures confusing, so tend to avoid. You may find it interesting to download the latest accounts filed at Companies House while you are researching.

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