⚠ The Growing Epidemic of Precious Metal Scams

Gold may glitter, but in the wrong hands, it can cost you everything.

Across the U.S., senior investors are being deceived by “precious metals” companies that promise safety, stability, and profits. Across the country, seniors looking for safe investments are being lured into “precious metals” schemes that promise stability and growth — but often end in heartbreak and financial ruin.

These victims’ stories echo a troubling trend: salespeople targeting retirees through emotional manipulation — playing on fear, patriotism, and trust. The elderly are told that inflation and political instability make traditional investments unsafe, and that precious metals are the only protection for their savings. Some are guided step-by-step through online “self-directed IRA” setups, unknowingly signing away legal rights through electronic contracts that hide arbitration clauses, liability waivers, and refund limitations.

Recently our firm has received complaints from customers of Colonial Metals Group and Metals Edge, both companies in Florida, about possible deceptive sales tactics and how companies hide behind legal fine print to avoid accountability to strip elderly investors of their life savings.

🧓 The Victims’ Stories: Trust Betrayed

Our elderly clients find themselves persuaded to liquidate retirement accounts and invest in “secure” gold and silver purchases. These scams often prey on emotional triggers — fear, patriotism, and trust — warning seniors that inflation or government instability threatens their savings. Victims are rushed through electronic contracts or “self-directed IRA” setups without understanding the legal traps they’re signing.

🧾 The Hidden Legal Traps

An internal review of CMG’s Shipping and Transaction Agreement reveals a contract built to shift all risk onto the consumer:

Mandatory arbitration & no jury trials
Class-action waivers
“All sales final” after five days
“As is” disclaimers and no refunds
Damage limits capped at amount paid

Under Florida law, many of these clauses are unenforceable, particularly against elderly investors. Courts view them as procedurally and substantively unconscionable — designed to confuse and silence victims.

⚖ Fighting Back: Legal Remedies for Victims

Many seniors believe nothing can be done — but that’s not true. Victims can pursue claims under Florida’s Deceptive and Unfair Trade Practices Act (FDUTPA), Federal commodity laws (CFTC), and Florida’s elder-protection statute (§501.2077) which help elderly consumers against such exploitation with potential fines and enhanced recoveries.
When companies operate from states like Florida, they can still be held accountable through strategic filings and consumer-protection actions.

A Call for Accountability

These scams thrive in the shadows of unregulated markets and vague online contracts. Victims are often too embarrassed or exhausted to pursue recovery. But with legal advocates like R. Lyn Stevens, who represents elderly clients nationwide on a contingency basis, there is hope. Stevens urges victims to file complaints with state attorney general offices, the CFTC, and consumer-protection agencies — and to seek legal help before signing any investment agreement.

At Stevens Law Firm, we work on a contingency basis — meaning clients pay nothing unless we recover funds. We also coordinate with local counsel in affected states to pursue restitution and regulatory complaints.

🛑 Before You Invest: Protect Yourself

If you or a loved one are approached about a “precious metals IRA” or “self-directed retirement account,” take these steps first:

✅ Pause before sending money — hang up or step back from high-pressure sales.
🔍 Verify company registration with your state attorney general or the CFTC.
💳 Check all fees and markups in writing.
💬 Talk with family or a trusted advisor before signing.
📞 Report suspected fraud to the FTC, CFTC, or your state attorney general.

💬 Final Word

Retirement funds are meant for peace of mind — not for predatory salesmen to exploit.
If you’ve been misled by a coin or metals dealer, know that legal options exist and recovery is possible.

Bottom line: if you or a loved one are approached about “self-directed IRAs” or “precious metal investments,” pause before you pay. The promise of gold may glitter — but too often, it’s just fool’s gold for the vulnerable.

For help or consultation, contact:

R. Lyn Stevens, Esq.

📍 Stevens Law Firm, Friendswood, TX

📧 lyn@stevens.law | 📞 (409) 880-9714

Representing victims of precious-metal and coin investment fraud nationwide.

Note: The presence of a company name does not imply a final legal determination of liability. All investigations remain ongoing and are based on consumer complaints, arbitration filings, and discovery evidence obtained by the firm.

When Retirement Dreams Turn to Dust: How Precious Metal Scams Target Seniors