Red Rock Secured Review (2026): Inside the $61.8 Million Gold Coin Case

Red Rock Secured in One Minute

Red Rock Secured was a precious metals dealer with its principal office in El Segundo, California. On May 15, 2023, the CFTC and regulators in California and Hawaii announced a civil enforcement action alleging a $61.8 million fraudulent scheme. The SEC filed a parallel case.

According to the CFTC's complaint, Red Rock persuaded more than 950 customers, many using IRAs, 401(k)s and the federal Thrift Savings Plan, to buy silver and gold Canadian Red-Tailed Hawk coins. Customers were allegedly told markups would be about 4% to 29%, or even 1% to 5%, when the actual markups were roughly 100% to 130%.

What Regulators Alleged

• Customers were urged to move retirement savings into self-directed IRAs to buy Red-Tailed Hawk coins.
• Representatives misstated the markup on those coins, which was allegedly 100% to 130%.
• Misrepresentations were also alleged about the company's relationship with mints, coin mintage and pricing, "bonuses" and "discounts," and the coins' "retail value."
• Red Rock allegedly charged about $34.4 million in markups as part of the scheme.

Claimed (high end)29%

Alleged actual (low end)100%

Alleged actual (high end)130%

Why This Case Matters

The case shows how the coin you buy can matter more than the company's account fees. Premium or "exclusive" coins can carry markups that take years of price gains just to break even. The CFTC urges buyers to verify registration and to be wary of claims about special coins. See its advisory, 10 things to ask before buying physical gold or silver.

1. Ask for the markup percentage on each coin in writing.
2. Get the same-day buyback price.
3. Prefer widely traded bullion over "exclusive" coins.
4. Be skeptical of urgent pitches to move retirement savings.
5. Check regulator records before buying.

If You Bought From Red Rock

Gather your invoices and IRA statements, and contact the CFTC, the SEC and your state securities regulator for information about the case and any recovery process. Be cautious of private "recovery" services that charge upfront fees.

Safer Alternatives

Choose companies that discuss markups and buyback prices openly. Our top pick, Augusta Precious Metals, offers a free guide on gold IRA dealer tactics. For smaller amounts, our budget pick Noble Gold starts at $20,000.

How to Spot the Same Tactics

The pattern in this case appears in many precious metals complaints. A caller or advertisement warns that your retirement savings are at risk, suggests moving them into a self-directed IRA, and then recommends a specific coin described as rare, exclusive or limited. Markups are described as small or offset by "bonuses." If you hear that sequence, slow down: ask for the markup in writing, compare the same weight of common bullion from another dealer, and check the regulator actions we track.

Is Red Rock Secured a Scam?

Federal and state regulators alleged fraud involving undisclosed markups of roughly 100% to 130%. Avoid any dealer using the tactics described in the case.

Pros and Cons

Frequently Asked Questions

Our Verdict on Red Rock Secured

A clear example of why markups matter. Demand written pricing on every coin.

Precious metals prices can fall as well as rise, and a gold IRA carries setup, custody and storage fees. This page is general information, not financial, tax or legal advice. Consider speaking with a licensed financial professional before moving retirement savings.