![]() ![]() While Red Rock sales representatives described the company’s markups to customers as being 1 per cent to 5 per cent, or in some cases 4 per cent to 29 per cent, the actual markups were between 100 per cent and 130 per cent, the regulators allege. The CFTC says that despite this, Red Rock “misleadingly classified and promoted the silver and gold RTH coins as ‘monetized bullion (limited quantity).’” The CFTC says the wholesaler advised Red Rock that there was no mintage limit on the red-tailed hawk coins, which meant the Royal Canadian Mint would produce as many of the coins as Red Rock could sell. We cannot comment further on an active legal proceeding.” The Mint does not control the resale prices of its coins. We have never had any interaction with Red Rock Secured LLC. “We denounce any misuse of our name or products for illicit purposes. ![]() “The Royal Canadian Mint has fully cooperated with US regulatory authorities,” Mint spokesperson Alex Reeves said in e-mailed comments. That wholesaler then sold them exclusively to Red Rock. That distributor, in turn, sold the coins exclusively to a wholesaler. The CFTC says the Royal Canadian Mint, a Crown corporation, produced the red-tailed hawk coins and sold them to one of its U.S. It looks forward to the opportunity to defend itself against the government’s allegations in court.” “Red Rock has demonstrated that it is focused on compliance and providing clients with information necessary to make reasoned and informed decisions about purchasing precious metals. “The Company has nothing to hide,” he wrote. ![]()
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